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Full Show 10-12-18

Oct 12, 2018|

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This is the financial exchange with the very Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. So we've made to Friday here and after a couple of days with the the markets largely. Falling apart usually is too strong a word but in this case fall apart probably the right word. After a couple days of the market's fall apart we do have a bounce back this is going on right now. But obviously we've got a lot of time left in the day before we see whether or not this one has staying power checked out here we've got Mike Armstrong Tucker Silva. And Mike I know why you know you you've been busy this week kind of looking at a whole lot that's been going on what's your take just I don't I've talked the about it this week yet. What's what's your take on what we've seen the last couple days here. My take on it is that it seems. Shockingly similar to what we saw back in far worse. To a lesser extent that we saw back in February but a lot of similarities and so let's start off from what we saw back in February of this year which was. The week of February 5 was the real rough rough week used to market decline days of more than a thousand points on your doubt. And it followed. As very strong jobs report. It is the week before we had a really strong jobs report investors started getting jittery this said we've Geithner tax bill passed. The markets are run up 10%. And people took gains. I see a lot of similarities here we came off very strong job report last week. I was Thursday or Friday of last week we have very strong jobs report with you know good wage growth. And you saw interest rates near really spiking they've been spiking for awhile. But it seems like investors really just took this moment to say we're gonna we're gonna exercise some of their some of our fears here. And take gains especially on there hi running tech stocks which have a lot of gains to be taken. And and we were talking about this a little bit earlier this week but. You know fears that investors have those are things that can be overcome investors can get past years with they can't get past is real joy and so. In this case when you look at what is gone on the last couple days. It it's not like the global economy is 7% worse than it was the beginning of this week no. It's not like inflation is 7% higher than it was the beginning this week. Interest rates didn't go up 7% in the spit. Actually wait hold on. Interest rates did go up if you look at the the ten year treasury. Being about two point 8% before the last couple weeks and going up to three and a quarter percent. He's been missing hand nominal basis that's rising about 1213%. There's something that's actually going on there that's so real facts when when we talk about it. That's something where we say hey that's that's something that this market is pricing in accurately. For whatever reason. You know beat you didn't prices in the last week just I think it was waiting on that jobs report and we had. The chairman of the Federal Reserve Jay Powell coming out and in speaking and I think you know people were wondering hey what's he gonna say. Came up pretty hawkish sleek and markets have effectively punished stocks as a result in the short term. The counterpoint to that is. If Jay Powell comes out. Any time in the next week or two when says. You know what I said this a couple of weeks ago but in hindsight I might not have given you the right inside and how long thinking. All of a sudden this whole thing goes away at least in the short term. Could affect she's done it fed chairs. Often don't usually speak they do you know. Bernanke and yellen both when Bernanke and yelled we're both starting out they both had instances where they kind of over spoke a couple times account and of Janet Yellen had one I think was back here remember the exact year but I remember we are talking that she came out two weeks later and said. Hey here's I said a couple weeks ago but cures actually amendment in effectively that messaging got markets back to where they needed to be. So I think in the short term a lot of this can be resolved if Jay Powell or someone else who. You know is plugged in with the Federal Reserve comes out and says. Hey here's what we've been talking about and I know that you were concerned about Jay's comments from a couple weeks ago but here's what's actually going on so I think in the short term. You can kind of put that genie back in the bottle. Can little gut in the long run though. I think the reason why you're seeing a sell off in treasuries over the last couple weeks. I don't think those reasons are going away in those reasons are. The that the rising inflation that does appear to be percolating. Not so much in the US at the moment but internationally which eventually is going to feed into the US. And also the fact that along with that you've got these emerging economies that are slowing down significantly. And that's gonna have an impact on the US with how tight in all of these supply chains aren't how tied in. The world economy is now so those things are going away in those are things that are gonna be concerns heading in the nineteen. But I think that the Fed can mitigated in the short term just by saying. Eight he said this but here's what we actually meant. Teacher to do a little bit of interest rates one on one and why this all matters because it's not. It's not so intuitive it's not like oh banks went out of business and so the stock market's crashing. When interest rates go up solicitude for the ten year treasury. That is what you consider to be your risk free rate and so here is how I need you tend to explain it to folks witches. As investors were making decisions everyday. We're saying if you're investing in the stock market you're saying I believe that the stock market is going to go up it's gonna go up more. Then the risk free rate that I can get in my mind which. These days with a ten year treasury it's about 3.2. Percent say yes and I think that stocks over the long term we're gonna beat out my risk free rate on treasuries. As that number gets higher it's tougher to justify. So well you would the you know this 35 year old who is still working in Sandia I don't. Care about the short term long term I'm sure it'll beat out the risk free rates. Says yeah I'll still invest in stocks. Will the 75 year old might be handled it differently and they might be saying yeah you know this this stock market has been pretty good to me but. I can now go get a CD in my bank Payne two and a half percent and that's good enough. And so you've got that going on it also interest rates also change the pricing on other assets as well and that let's say that you are. Talker and you are in the market for a home right now. And you have been looking at homes over the course this summer he said gee. The thirty year mortgage rate right now. I get a mortgage at four and a half percent which means second by a home worth X number of dollars wolf interest rates go up by half a percent. It effectively cut your buying power by 5% of the with the way the math works let's say that you were originally looking at properties in the 200000 dollars each. And all of a sudden rates go up by half a percent now you're capped out at a 190000. It doesn't mean that your monthly payments going to be more at that 190 vs 200 but it does mean if you're selling a home the pool of buyers that you have might not be able to afford the way you originally priced your home so home prices in other asset prices start to fall as a result of that. So the concern then. Is since one of the major ways that we grow our economy is through consumer spending largely financed by borrowing if we can't borrow as much. We can't grow the economy is much Trent that's pretty much what we're looking at the. So charged beetle the technical and breaking things down to almost a dumb down version folks but. If it helps sometimes it gets some context around why things seem to be falling apart and fall apart so quickly. The other minor impact that may have been a factor this week that hasn't been talked about a lot is we're right in that in between stage where. The quarter has ended. The companies haven't yet reported earnings so most of them don't do stock buybacks during that period of time I don't know how big that impact is. But if all the companies that are out there that have been buying back their stock put a pause on that for a few weeks because. There's potentially you know insider information problems. That can lead to a little bit of you know excess. Down selling in the period does that. Were you in the long term if that's the case here's an short term impact so I look at it actually the opposite way in it let's say that. The market is being kept afloat largely by buybacks and and I'm I'm not saying it is but let's say that's hypothesized that the market. It was being kept afloat by buybacks account. Well when the economy turns down companies stop buying back stock which means that you're gonna see Steve Purcell. So it's something that concerns me from that perspective that you know everyone always points to buybacks is as hey this buybacks great it's gonna keep the company afloat. But what the circumstances change is that the company can't make the buyback and I agree with gadgets don't think that that is what is actually you know floating up the stock market don't as he went -- it's just a small piece of things that might have added a little bit of extra volatility on the downside this week but I just always look at in people's the other buyback will put four on the stock you'll put the buyback duly notes ideally you're assuming that the buyback is going to still be there. Some news coming out of China yesterday a China posting a record trade surplus with the US in September. Largely before the latest round of tariffs went in. And really more than anything else having this signals that a lot of companies were trying to really you speed up delivery of goods from China to get. Even before the terror yet Mears and attempts by a lot of companies are buying steel that were buying chip processors. To skirt around the terrorists before they went into place. I would be much worse to see what the surplus looks like next quarter. The idea that I think the next couple months are going to be pretty instructive as far as paid we kind of go back to a baseline for. Do we do we now have a new lower number that we're gonna see in terms of Chinese exports going into the US. Let's take a break right now and when we come back we'll be joined by miles Odland from Yahoo! finance it get a market update on where things are going as we continue through. Friday that's right after this break on the financial exchange radio network. We wanna hear from you. -- -- -- 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network many of you listening today are most likely nearing retirement -- and if you haven't -- deeply about planning for your retirement -- -- -- -- a message for you there will help you through the process many view -- listen -- -- for years on the -- exchange radio program -- that he's an -- -- -- -- in the state -- so you're just starting or into the retirement process you're going to want your trust documents to be prepared properly -- 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 -- Todd has written a brand -- -- -- designing the -- -- -- -- -- -- 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 -- it's -- for free by calling 8668485699. At 8668485699. Don't delay did your -- today at 8668485699. Or downloaded right now from our website legal exchange -- dot com. Are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy coming in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Hi everybody it's Barry Armstrong and Jake two Lian we're talking about a program called Z rent. Now this is specifically. Designed for those of you who wore landlords and you used to collect your checks with paper checks are gosh maybe still do. Will zero rent allows you'd collect checks electronically. Jail is hoping you 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 race because right now. You know with the landlord when you're getting rain checks in the mail it's low it's unpredictable. You're missing envelope line in the post are you waiting he might not get all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation in your rinsing your notebooks yeah so would you rate does is it really digitize they'll. 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If you're bank doesn't operate that can sign up for zero go to zero rent dot net or call them total free. 8776917900. Securities offered to securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated stock tips stock we. Gary Armstrong and shut sun out it's the financial exchange on the financial exchange radio network. I. Miles of land from. Yahoo! finance joins us now get a quick market update on where things stand today in what was going on yesterday. Miles thanks for joining us today. Eric my also we have this market today opened up about 400 points positive on the Dow about 45 points positive on the S&P. Given back about a third of that to this point. You concerned about and consider any continued selling pressure today at all. Well I think it'd direct selling it we've already seen today is notable on the need weight that we. Close the last couple days I certainly Wednesday's close he'd go out on the load the data is not something that traders ever like to be sure that there is to. If you selling pressure that would have happened at the market not close. And yes exactly knock that goes about. 45 current or so down the little but then where all began into the boat and I think. I certainly bears watching over the what by the hour by an app our market is open. But I think that you know even is that inability to hold that opening gap higher. It's certainly worried you know later you know folk who are looking. Try to find a bottom here you know what what about. So looking over the longer term there's other considerations that. Traders coming in and out this market trying find a tradable bottom are currently are incurred by the right there in the park today. Miles of talked a little bit this week about the similarity between this dip in the one we saw back in February curious to get your thoughts on similarities and or differences. In those two market movements. You know I think they're more similar than they are different you kind of go through that he still well. In February or side of it's tenure here 3% and back in February. We didn't quite have the president coming out at forcefully against the policy of raising interest rate. But the way the market has behaved in Egypt seem like. I get inside the same point we saw. A wave of selling on Wednesday it would celebrated in the afternoon. Five or credible explanation for why the market sell off but no one of them. We're going to carry the day. And that we continued to be debt selling you know the following day and I think. 800 points on the now not that far away without a doubt and it just kinda. That being rookie of the market structure looking at the way to you know money boot into a market where money out of the market you a lot of pat them whether they're more yet but there are are it is being like. He's our Apatow are going to be dealing with it in the current structure of the mark you have art in interest rate be you don't necessarily have. Many active for him in the market we're noticing that on the big debate basement and he ain't gonna come up all want. But these. While when the volatility of the it's something we stopped. About the board in its something we saw. In the summer when he bit into the that we are after Greg that after the election so it's not like it the unique thing in the last five year old run. But I you'd think it's something that investors should be prepared to be more of I've certainly I think. He more a book like is Wendell condolence note but I absolutely. Bill like this that they REIT Q what we saw it February. Miles this is a market that had pretty narrow leadership at the top throughout much of this year tech really being one of the areas that led this market forward. Well you go through the list of other sectors and you go through you say to you know utilities. Didn't really do much this year consumer staples struggled industrial struggled the energy had been somewhat positive in the last six months the financials weren't great materials were were weakening. What what does it say about where this market goes from here that leadership was so narrow now that leadership has fallen apart. Well I that the country. You look at our report about history and most all of them have the ball well on form of the Arab leaders are elected back he banged name. Expect there could be leadership group had no leadership group the last eighteen months. On its own dark and turning it Bennett on the outside of that. I think that well over the last couple are a lot of sparkle one analyst at. Our dark yet he and percent the average small cap stock. But today was down 1% that's obviously gotten worse over the last couple days. There with a lot of weakness out there but it's going to take until those big technical over per unit he had Arlen index level. Not have been if you'd done that by and you know I'll be more sympathetic to the idea that. Well but we have five. Mean the bad thing it doesn't necessarily. Mean that the market is more fragile than it otherwise would be we in a lot of rotation over the last month. With buried leadership group's. That the consumer discretionary outlet for awhile and came back the fact. I think but it lacking is currently. Something that have been brought up a lot at a point of concern for how much higher the market and bill. But when you're out there by doc and what. Trillion dollars of market there that it would be heat index. But I think a lot like we saw the sit in the scene and he's got the average jet will be stock up 2530%. In the index level black. I think that the a similar kind of odd behavior from the market in so far this year you know right now it. It's only up to prepare the year in of them looked. At it. Are good miles we've got to Rhonda thanks for joining us. Miles Odland from Yahoo! finance talking about where this market goes from here. Another story that we have to get into today apparently postage rates likely going to be moving up. Over the next year now this on CNBC it does gets. My A award for the most misleading headline of 28 ths. And we're pretty Parse through it at this point the headline says the post office wants to raise the fees it charges Amazon and other shippers. What it should say is the post office wants to raise bees on every. And Amazon happens to use USPS it's like if so look at this pretty much what they're talking about doing. They're gonna having nine point 3% increase they want to have a nine point 3% increased. On the UPS. Grounder I'm sorry it's called the parcel select service. Four packages weighing over pound in a twelve point 3% increase on later packages this is the service that UPS added that Amazon uses a lot they used this parcel select service. But the post offices also proposing a three point 9% increase our priority mail. A five point nine increase. 0% increase on priority mail express in a 10% increase. On first class stamps which are the ones that you and I use all the time so really in my opinion this headline surgeries. It was entered the post office wants to charge you. He is greater increase than Amazon. Over the next year the long lines for the which is all headline and makes no sense but that's what's actually going on yourself a look at this and. Well I mean let's let's talk about system lets think about what gets shipped to all of our houses by Amazon as most of it over or under one pound over. Currency looking and nine point 3% on occasionally under. Temporarily and I do a lot of like sometimes a heavily single orders stuffed Leo. I had to get you know refills for. Oh label maker. Whitley yeah now do you know like for like an extra USB cord which is often I needed paper slate. Okay didn't get a pound paper clips obviously. But this may not all be targeted Amazon but it does make up a big chunk and there are specific business is probably going to be seeing average price increases from USPS. 10%. Ten to 11% would be my guess yeah so I create. Yeah and in the title is I read the title in the red stars like this is a garbage title for this article but it is true that Amazon is. Probably one of the big targets that was thought about and wonderfully factors in the calculus all stems back to the president Trump's two week. A few months back great. I yes and no I mean certainly he did I mean he created a group that was supposed to look at this exact issues ovaries certainly that's part of it. But you're clearly seeing it across the board there are not specifically saying hey we're just going after were. This type of package we are raising costs across the board. This does lead us to our poll question which we're gonna get into right after this break on the financial exchange show. Like there's something. I was on Twitter. Show breaking business news is always first my view 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. Coach AZ 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 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. 8621190. 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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 -- 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 -- told designing the income only 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 -- for free by calling 8668485699. Minutes 8668485699. 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C rent dot net to learn more would 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 Wall Street watch a look at the market's performance so far today until Berrian chug right here on the financial exchange radio network. Time now for Wall Street watch presented by leader bank are you will convert. Great get for the holidays if you are leader bank has a wide selection of gold and silver bullion coins available all there locations. Call to make 8776917900. For more information. Mike look at a couple videogame companies you take two interactive visuals Activision Blizzard what's moving them today. So we're really just making up some of the losses that they felt yesterday but these are two companies Activision Blizzard has gained 322%. In the last five years take two interactive. 615%. In the last five years huge gains on these companies and it looks like over the last week they really have been sold off as investors were taking gains. Activision Blizzard this month has had declined eleven point 6% through yesterday and take two interactive down eleven point 4%. In October through yesterday but as of this morning there making up some of those losses Activision Blizzard to personally TV guide. Is up nearly five and a half percent take two interactive I ticker symbol TTW. Show up also nearly five and a half percent. So you of making up some of the big losses that they felt since October 1 really here. And just a heads up and take two interactive has a massive game coming out on a few weeks. Read that redemption too which can make a tunnel it is gonna make a boatload of Lauria I am very excited for that may have pre ordered it. You know this is a sector that I am has been your big of Albany's video game nerd I used to be a kinder if there's some reasons I fell out of it. I'm still playing my old either super Nintendo or Nintendo 64. No it's a while doubled sixty fours which by the way. The the 64 games start at the same problems that the original ones viewers get a blow on the cart in the guys each got a cable system down yet they they've rouge that age now where it's like it takes ten minutes just fire that thing up just auto. I know that this is very different circumstances Tucker Richard Neer really describing somebody whose father in law's basement I think. It's not the basement it's beside. The notoriety. And they're my roommates and that's the right. Yeah exactly what's your game or name that you play under. Engine but 42 no no one. Anyway that was the that was Wall Street watch presented by leader bank in your we'll be right there great gift for the holidays with a bank does have a. Wide selection of gold and silver bullion coins but not video games available all of their locations cult leader make it 8776917900. For more information so prior to that break we are talking about the fact that postage rates don't up on everything. Especially in particular. The parcel select service that Amazon uses for deliveries so this does take us to our poll question of the day. Up right now at financial exchange show dot com should postage rates for Amazon. Go up more than other customers so you can go over to financial exchange showed dot com and vote on that. If you want to text us your opinion is well just because I like to hear the reasoning behind it sometimes. Text us at 63566. And let us know why. Amazon should or should not pay. More or less than other. Custom so again question isn't should Amazon paid more because I think there's a lot of agreement that that the rates probably should go up for Amazon it's whether they should pay more than the other customers for the saint yes product exactly. By the way so this this hike on postage rates would take the first class stamp for fifty cents up to 55 cents. Just as a an interest in little tidbit. Do you back to 1991. Which is the first year that I remember post traits they were 29 cents glad I bought 30000 dollars worth of forever stamped background. Exactly right you went forever stamp was introduced I don't think it was either 304. Was somewhere in that ballpark and we do have some techs on the post office anyways from 978 post office still a good deal overseas people pay much more for first class letter that is 100% accurate. From 413. Privatize the post office. I don't know. I just I don't know if that actually saves any money. Big proms the post office had the last few years trying to get ahead on there. Pension payments rather than them losing money just on their service actually you could privatize the post office you just wouldn't. Have easy exits to postage in rural areas anymore. Which is kind of the big problem right I mean that's that's kind of in that big issue and could be Kostis who knows some remote town in Alaska needs to have a post office and that really expensive. What's so when talk a little bit about the U the gas line explosions from. Late last month that occurred in the Lawrence area causing all those explosions and fires. The NTSB is that with their preliminary report in it does not look particularly good for Columbia gas. So it doesn't look particularly good for Columbia gas but honestly this report and he leaves so many questions unanswered. Effectively what the investigation found was that some work that was being done on a pipe. From the early nineteen hundreds there's posted the contractors post you re locating underground pressure sensor. From this abandoned pipe and that didn't happen the big question mark that. Is out there is was this the follow the fault. The contractor that was doing the work was it Colombia's gas dropped. Columbia gas is falcons didn't explain how the project disposed to be done. And how old did was there are no checks and balances here to make sure that you something this severe didn't get followed up on. We have a lot more questions answered here. Yes a pretty much what you ended up with. Which is what I'd originally you kind of thought was you at high pressure lines that ended up connected the low pressure systems which eventually they do. But you're supposed to have monitoring in place so that they don't over pressurized and that monitoring was not. Present in this race and in the monitoring it did because there was an alert that went off and moderate center and Ohio that. S.'s like O and alerts going off. Somebody wants and people just it's news. Let me tell Bob. Bob get up to Lawrence the whole town's about regulated there's nothing that they could do now that monitoring stations so. Some real still big open ended questions here. It'll probably be a few more months before we get those answers that I would anticipate early next year we should of the conclusive report from the NTSB. As we are continues the interest rates moving up. Mortgage rates moving into the 5%. Range and it's only a matter of time it's not good news if you are a home buyer. Or really appear seller is to put pressure on the price to get as well yeah. VA puts pressure all over the place and DA there's. I'm one of these people where I've you know been thinking like I just had my third Qaeda are going to need aid. Eager nine need another bedroom down the road and it puts me in the position. I'm saying I've got a three point 875% mortgage right now. I AM more likely now to improve my current home that I am to consider relocating even though long term that and that's going to be a tough decision to me up. 5% mortgage rate just seems so one attractive to even though historically raised at a gut yet I can see that. And start it's pretty good. Folks I know that navy who listened to our show are retired are nearing retirement age and if you don't have a sound financial plan to light you enjoy your retirement. You need to get our brand new guide on how to develop a retirement income strategy is got to help you understand various elements that are critically important to your plan. Whatever you saved today it has to last for the rest of your life you're going to want to that money to continue to grow over time even when you start drawing from it. Another consideration is the volatility in the market we've seen bull markets continue to forest but there have been. Considerable ups and downs or on the Wacey need to make sure your purple you can handle that. Cause right now at 803934001. And get your free guide. How to develop a retirement income strategy. That's 803934001. Or just go online download it right now on our web site Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We don't out to our weekly apocalypse report where we have robots made by Boston dynamics the running ones that you know used to it there a couple creepy video is a couple months ago this one tops where they would you know team up and open a door and figure out how to open and things like that. This when they now have been able to program the robot to. Run over objects in its way effectively doing park war. To you know dodge objects that are either stationary or coming attic. Which put him scenes that they can just about. Kill us at this point just this is my my favorite weekly segment exit just the last meter envision chocolate. Huddling in a corner crying somewhere and it's it seems like that's what happens every time you start thinking about it's just it's it's absolutely terrifying now. There is a there's a report on engadget. Who as the video up as well. Apparently what the goal of this okay if if the robots actually like doesn't want to helpless which looked knowing me they probably won't according to according to every movie that I've ever seen. It did just usually doesn't work like that but if they work the way they're supposed to. The robot is supposed to be able to navigate through disasters. To reach quote squishy humans stuck in Burke precarious situation squish. This question is is the word it uses which I think is a great way to describe how that humans. It's always is that fact that everything's squishy comparison is that there's a big metal man it's like in in you've got. You know squishy humans so I think that's a really good description but this sounds like here is written by the park or robot if it does. But I will save you squishy I think that this really does. But so that the goal would be paid if you've got a burning building sand in one of these robots that can dodge falling burning you know wouldn't go upstairs and go around furniture. In order to save humans so that you don't have to put a fire fires life in danger now on to him picturing that scene in terminator were like. Prisoners face kind of notes vacancy robot and yes. It deserves Lauren this is where we're trying to head on into sleep tonight the the good news is hate if you believe that the robots won't kill us this is great. If you're like me and I think that they might not like us so much. Now. One day close to the end of the world there. Let me ask ask Paul Smith in. Though he did exactly eggs are robot exactly and with that thing has ordinary matter now granted to be fair there's a little bit of selection bias here because. If robots actually save the world would they make a movie out of it. Now now they would OK they don't make a movie where everything goes well with the robot so I'd get that. But having said that the so many ways that they could not like us. There are so many ways that they could not like us. Let's take a break and when we come back we're going to be talking about a new law that is going to be helping musicians. Get paid proper compensation that is coming up right after this. 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. If you're real estate or property management company you need -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative zero rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917. -- 900 or email BDO at leader bank dot com for more information member FDIC equal housing lender. 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 -- 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 mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 7816418691. That'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 and 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 and it's just too hard the language is too technical. 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. Doing this they play the 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 world. But also make sure on their card when you get their card to use 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 in note one you want to have a flat feet. Regular 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. And 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. Vote on our daily poll question had financial exchange showed John come while you're there buyer of the media player and watch the show while you work. This case the financial exchange radio network. Us. So occasionally the justice system works as us. You wanted to in this world a lot of times doesn't occasionally gets things exactly right. Do it to you remember. The the fire festival from last year yes the if if you're not familiar with that burning man no doubt. The fire festival fire being spelled FY RE this was the one that was supposed to be and remote island in the Bahamas that was supposed to be really exclusive festival it cost like thousands of dollars to get there that you're supposed tablet private cabana and there the food was supposed to be professionally catered. And it turned out the deadly. Out houses in literally cheese sandwiches. Because they they just did not plan this thing at all I remember the so it it turned out that the guy running at this guy William McFarland. Pretty much made the entire thing up and had no idea how to put any of this on. And so he sold. Effectively he defrauded investors of 26 million dollars 26 mil 26 million dollars and so this morning he has pled guilty and is sentenced to six years in jail that's as a result of wire fraud and bank fraud salon to volley did was Republican millionaires so the charge actually got him in this case. Was he wrote a check using the name and account number of one of his employees without authorization plan. And it it will get you just about every time yeah zone I would imagine he's not actually going to serve all six years and matches probably in for 24. But you know obviously this is one of those cases where it does appear that justice has been served here. In this X 126. Years ago does that mean. It's it's not good and I don't know if people end up getting any money back who actually trying to build. So under the radar yesterday. There was a fairly big deal that was signed. By the president with regards to music copyright. In giving artists a little bit more protection. As we continue to make deeper inroads into the streaming agent as that becomes the primary way that people access music. What can you tell us about this. So there a number of just strange and loopholes that are being closed here Dave there's you know of small grants answer it seems that. For stream songs that were created before 1972. Artists were receiving royalties on those did you dreaming which is just Barry you know just. Random and strange so that's been cleared up. There's also it seems like it's also lowering. The barriers to entry for somebody new to get into the streaming game because it allows you. Immediate access to entire library of songs rather then to go to studio to studio. So it basic it say you know more competitors could jump into this a lot easier than the Apple's pandora and Spotify as that are area. And I think that the big thing here is. It eliminates some of the middlemen who may have been able to get Ian in previously take a cut of this without actually doing anything. This allows the artist interface directly with. The publishers here so that you don't necessarily have a middleman that sending prices and so forth so. I have long been someone who has said that a lot of musicians in the stream model under compensated and under protected. This is not a perfect bill that signed. But he gives them a whole bunch of benefits that they didn't have previously in Europe all kinds of artists who have come out in favor of this bill this is a pretty big one. It's important to spam report on because it's one of and maybe two bills that I can think of in the last two years that saw a wide bipartisan support so that means there's you know free the jets needed to be yet that this is a bill that had been introduced I think back and he also took about six months. Is to get to the point where was passed it was passed by the way when we talk a bipartisan support. 415. To zero. In the house and unanimously in the senate so again that this is not something. Where you had people on opposite sides it was pretty much hate this is something needs to get done here so it's somewhat encouraging that. You know. There's still something that we can all agree the the the funny thing that you you have here on this on is the original sponsor of the bill. Is senator Orrin hatch. And the the idea of Orrin hatch being the savior music is a little bit funny you make it just it's not the person that you would expect I would more expect him to be you know the bad guy from footloose it's it's not who you're putting us back to go but it just comes through on this one. And not this one out of the park so really good news for artsy and again this bill originally sponsored. By Bob good Lott and house and Orrin hatch in the senate and getting through. With unanimous support in both houses here. BMW is gonna be buying out a majority stake in the air Chinese division previously alien 25% of the joint venture they held over in China. Gonna be upping that 75%. He had this is all just based on the laws that were in place and are now changing in China sued BMW tells it was only allowed to own 25% venture in there. Chinese division and based on the new rules of going to placement 20/20 two. They're allowed to acquire the majority stake of this joint venture now they still need to have a partnership with the Chinese entity but they're allowed to own more of it you're going to see more of this. So it's a guess and encouraging change in some Chinese policy but it still to meet isn't. Change the core of the issue which is if you want to business in China you must partner with a Chinese company. So that they can effectively. You know steal trade secrets and at least have access to them. And to give me an idea of how big this isn't what this does mean for BMW they sold 500 in 60000 cars in China last year which is more than the United States in Germany combined. So this is a big market for the now. I anticipate it's gonna get bigger as you continue to see. More people in China reaching those upper middle class levels. The time we have on this hour of the financial exchange but don't worry we've got a whole lot more coming up in just a little bit. 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 that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing co lead 776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender. And MLS number 449250. Subject to credit approval leader bank a step ahead do you think you have enough money to last for your retirement. Think card 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 printer securities America incorporated member of been RS IPC and advisory services are produced series America advisors incorporated Barry Armstrong represented a 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 Todd for years on the legal exchange radio program know that he's an expert in 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 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 yours for free. By calling 866848569. Iron there it's 8668485699. 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 land rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology tell them a call this he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816. Well 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 it's a big thing that you need to figure out -- can move to lower cost of living area of the certain expenses that falloff. Those are things they go into the. Whole process folks if you'd like 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 -- silver and gold bullion coins are now available at all leader bank locations bank locally and -- your gold locally and it just makes sense of -- bank a call and learn more call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured and insured 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% equity user -- featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917. To 900 or -- leader bank dot com minimum to open and -- annual percentage -- ten dollars mass prison until late -- may reduce 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 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 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 web site Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are. Unaffiliated 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 there information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to the -- -- call the Z deposit teen 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. It. This is the financial exchange with the Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day your city your world stage. 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 sharks done us. Welcome into the financial exchange we are getting close to wrapping up. Pretty volatile week in markets in that volatility continues today. You remember volatility doesn't just mean movement to the downward side of things it also means economics. Most of movement upwards that's what we're seeing in markets today. With markets to this point again not quite halfway through the day holding on to some gains obviously not getting everything back. Trucks out of Mike Armstrong and Tucker still be here in taking a quick look at markets right now. Just a reset you from kind of where things are at the moment. The Dow was up 263. Points S&P up 36 NASDAQ up a 143. Steve get all the major US indices in positive territory after international markets rallied overnight. Gold selling off a little bit down six dollars and 79 cents an ounce. Tenure US treasury also selling off a bit back up not to three point 16% at had been down as lows three point 12 yesterday. And Oriole. Still down in the low seventies pulling back from the mid seventies number that we had seen. Late last week that probably giving a little bit of relief to some companies they look at balancing their costs going forward Michael looking at this bounce that we're seeing here. Deet in it again is lucky it's tough when neared you know right in the middle of it. Is this the kind of one that stands up to you know the test that it's gonna face over the next couple days or is this you know more the it's dead cat bounce in this things and right back. And so talked to on the short term us an entire area can produce less about I don't drive request overthrow at a bad I think that. You bought them now if it's gonna continue going down and GA you don't get much below 10% from. Recovery through the end of the year. In in terms of you know getting this volatility. Kind of back in the bottle. We saw in the spring it took almost three months for this market to kind of get all of this out of its system yet. And if that's if we see a similar case here witch look when you see these kinds of moves they don't just go back to normal right away now but if that's the case here. I know historically investors look at either end of the year and appear they say they could be Santa Claus rally turning. Beat historically. And I hate to even look at these things just to be honest I don't really believe in them but historically after mid term elections tends to be a pretty good time for markets. But if this volatilities present here. You know you could see a little bit of disruption to normal buying patterns the people see at the. End of the year like this you could and mean people just associate October is a bad month to me these new real deep right please note no amount and there are some some of the worst months have been an October rightly so you've got you know effectively the worst day that markets have ever had in October which you know. That's something great debt one day but hey it's something. And then you've got effectively started the Great Depression with another one of the worst days mark just so well historically it has been some of the worst days but. Not significantly worse average months and others say okay it's it's a little bit of you know laws statistic. You're right markets do tend to rebound a fair bit after a mid term election and by the way that's regardless. Of who wins set election doesn't matter if you know Republicans take control Democrats take control of the existing party keeps control not really all that relevant historically in terms of how marked a performed after the election. No and in it to put in perspective. The that the scale of the losses that we saw in the last couple days. Me neither one of these even comes close to the top twenty worst days in market history and I and it's not even. It's the third worst the review and seen this year yeah it's not even that. Signet I mean I've just see stuff point two at all but you see stuff like this on a pretty regular basis the worst days in market history by the way just tell you how bad it could get OK you know. I wanna put this in perspective using today's numbers so if we go back. To October 19 1987 which is black Monday okay worst day ever in the history I'm just looking at the Dow Jones okay. Worst day ever was black Monday back in 1987. Was 822%. Decline. To put that in perspective if you saw it at these levels that is 5500. Points in a single day. For the Dow I don't think that's even possible anymore is that what it is so what would happen is if the market falls 10% it's getting hit all the circuit breakers you know pause trading. It could then fall an additional 10%. It's breakers again and then continue to fall to get to 22. Wonder that closed the day isn't there a circuit Erica the Texan I was might now I say now there might be now there's there's which to be honest I don't think there should be but. Discuss doesn't do winning now it doesn't but I hate you might be right on that I I can't remember the specifics they're just as we haven't seen triggered. If you go back to October 28. 1929 again. October under the trend here okay. Kicked off really be the Great Depression. With the Wall Street crash kicking off on the 28 twelve point 82% so that would be somewhere in the ballpark. Of around near 2800 points right now. And you continue down the list you know it would be we're talking thousands of points here to. We saw 500 yesterday we saw 800 day before not a whole lot of fun even if you combined those two days into one which doesn't make sense because they're two separate days. It's still doesn't even get into you were ten you're twenty worst days. In Dow Jones history it's the pros we love. Talk about the points to you the points on the Dow it's irrelevant. The percentages on these things that really are a relevant factor here and yet I mean. Yeah a couple percent is nothing to sneeze that but it's not it's hugely significant amount they it's the circuit breakers by the way. If a UC a 7% decline as a fifteen minute halt. A 13%. Decline. It's another fifteen minute halt. And if you see a 20% decline anytime during the day trading shall halt for the remainder of the trading day so it not really that possible to have a 20% plus market decline. These days. You wanna talk about volatility by the way you look at what happened in October of 29 now okay. And 1028 on October 28 to 1929. Markets fell 13%. The next day sit there and say gee maybe we'll get a relief rally no down an additional 12%. OK so you pretty much down 20% in those two days. The following day on the thirtieth. Bounces back up 12%. Okay. And then five days or six days later on the sixth of November backed down an additional 10% so like you talk about what we're seeing now. I get it it's uncomfortable it's uncomfortable for every one. This is all happened before and it's all been way worse so. Take heart that that hey we've gotten through things that are worse we'll get through this we will know connect. Let's talk about some good news for Social Security recipients getting a two point 8% boost. The Social Security Administration announcing yesterday. Based on the average benefit people receive it's going to be about forty dollars more month. In americans' pockets and they're really good as the last time we talked about this was last year and there was a pretty big sister to boost last year to the problem was it got eaten up by affluent Medicare premiums that does not appear to be happening this time Medicare costs are expected to stay in check this year. Part B coverage covers doctor visits and attach about patient care is expected to increase between a dollar fifty and 135 which is it X. Incredibly wide range but. They're not a dollar one dollar fifty to 135 right yeah that's not a range outs article went 34 right now got it yeah. Odds Portland rates going up a 51 buck fifty to 135 is adversary not a huge inflation in the health care costs surprisingly this year so you're going to. Really see most of that increase in search security which is a nice surprise. Yeah and so again yeah four I know that sometimes we look at forty dollars and say gee what's that mean for someone. For the people who were living just on Social Security which again it's a lot of people I think it's close to 40% of people. Live only off their Social Security benefit once they're retired so it's a big chunk of the population. That forty dollars a month. Is real money you know it is something significant OK and so it's he'd shouldn't be pooh poohed NO people's elegy it's only two point 8%. Forty dollars a month is real money to a lot of people here it you know it is the difference between being able to pay in some cases. For you know certain prescriptions that you may have missed the ability. To you know around the holidays go out and buy a present for a niece and nephew grandson or granddaughter someone like that. So it's important to see this it's been really tough. The last few years when we take a look at Social Security. The coal as the cost of living adjustment. It is what they call it. Effectively. It really has not been significant in recent years the last time that we saw in adjustment this big was 2011. In the only times that we voicing it twice in the last decade north of two point 8% other than that to be an all 2% or below. So this is big for the for a lot of folks who are living on a fixed income because I know that you know we look at the inflation numbers that are out there was say OG you know inflation's pretty tame. Hey if you're on a fixed budget. You know that inflationary cost probably your higher than what the government tells you because of the way that they match. It's easy to forget how rampant inflation was back in the late 70s80s and 79 he shot 10% cola increase right in 8014%. 9111%. That is just crazy. So Google revealing a whole bunch of new devices. With their latest. You know roll out of these different. Leo. Wouldn't vote called Smart device. Is I guess ID for Google is Smart devices they also rolled out their new version of their pixel phone. So there's been a combination of different products for them. And this is right on the heels of Facebook's own Smart home product which. At least from people that I've talked to his pit big flop and bad timing for the company. Google made a pretty Smart decision I think with one of their Smartphone products. What they do what what what are they talking about doing so FaceBook let's start with what FaceBook did which is they puts a almost like an iPad type device that you can do video chats with with in your home and it runs on the Amazon. Elects a Smartphone device. Google has put out to a new product which it looks like it's again it's another Smart home products using the Google means Smart. Device. But it's mainly used for watching video not performing video calls. And the thing that they. I think addressed properly is the creepy factor they said. You know what's rising hang up on the right it's Hayward brand new to this industry people are still getting over the fact that there is a speaker in their home listening to them. They probably don't want a new video camera watching them at the same time so. They omitted a camera on bear version of this you can't do video conferencing with that. But I think that's you know for somebody that's looking for this maybe they're just looking to go to watch a quick video on how to cook something. I think it's a Smart move at least for their first iteration of this. Good we're gonna take a quick break but we've got trivia when we come back so make sure you stick around your cell phones ready to texting because we are gonna be giving away 850 dollar gift card. Two seasons 52 quick break and then right back data on the financial exchange. Have a question for Berrian jock now you can text us at 63566. And take part in the show at any time. Start your text with keyword and join our exclusive club days as the financial exchange radio that. Work 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 -- 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 say to date has to last for the rest of your life so you 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 for the securities America incorporated members in SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Many of you listening today are most likely nearing retirement age and if you haven't thought deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view -- 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 god -- designing the income only read the global 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. At 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. All easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today. In your plumbing problems they're history call easy plumbing at 781. 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 78186211. 90 hi this is very are strong 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 this call dizzy 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. The financial exchange. All ordering an and also now in West Palm Beach, Florida check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. Did a hot water tank that was installed in the last one to two years to help prolong the life of your hot water tank. You should flush every twelve to 24 months and replaced in order rod every three to five years according to the manufacturer's instructions. Easy palm can help you maintain the salt water heater called today before he ran into a much bigger problem easy makes it easy call 7818621190. Mass master license number 10183. So Tesla continues to ramp up its seals. Obviously this is deceit the story shocked me mobile what shocked about what shocked you about it in the previous me. The fifth. Well said. See. In the previous quarter Tesla outsold out which that that to me was the big thing that really surprised me I did not think is going to be the case they fell behind. Lexus BMW and Mercedes is all the luxury car market. They sold 64727. Cars which. Came shy of Mercedes by a just shy of 2000 cars but you know pretty significantly under sold Lexus and BMW but. I know I just don't think of Tesla as outselling Audi they also outs or an accurate Cadillac infinity Volvo Lincoln Landrieu over Porsche jaguar and Genesis. And it is that surprising to anyone else. Know. Because they have a backlog. A kind of my question is whether they'll be able to do this once their backlog is a country that no Elon Musk has said look I wanna be able to sell 500000 vehicles a year. And I think they might get there wants. I don't know if they get out 5000 people every year who want to buy this. I think this is deal for five years of pent up demand that's just being plowed through right now. In my question with them beyond hey can you scale how quickly can you scaled a 500000 is. He once you get there can you maintained with surprise. As me about this way let's say you are a Tesla buyer and I don't you know I've don't know a lot of people that own 12 out and we talked to them but. You know you're saying in all likelihood that I believe that you know Tesla still gonna exist I used on terrorism still in BO get parts and updates this car. I've no concerns about that when I talk about Audi Acura Cadillac. Now or Infiniti had to have that concern about test like a pretty significant concern to let you tell if they're not here would like due to serves them right. Light and all the software updates are going to this car in Mexico he's no longer in the air which. Should be a going concern of yours if you're buying one of these and its president. I think tussle sales are going to be really good through next year. I'm really curious to see you at the 20/20 sales. And and again this is based on them being able to get financing keep company around rental point one which is still a question might I. Let's do a little bit of trivia here and now our trivia contest today. Is brought to you by seasons 52 they've got 43 locations nationwide including two in the Boston area and one in West Palm Beach. And seasons 52 they are on a mission a mission to provide you with a better way to eat. And you can visit seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens. Or go to seasons 52 dot com from annual information and reservations you can book your holiday party today. Get special gift for you guessed you and we are doing trivia today. Based on James ball and and the reason whys of the late actor Roger Moore. Was born 91 years ago this weekend and so we're going to be doing some James Bond trivia. That's actually do Roger Moore one specifically. In how many bond films did Roger Moore played the role of James Bond Texas at 63566. And won't go with the seventh correct answer today since James Bond was doubled seven. If you're the seventh person with the right answer. You're going to get a fifty dollar gift card. Two seasons 52 again in how many bond films did Roger Moore played the role of James Bond Texas at 63566. We'll give you the answer in just a little. Bits. So. This one I have been wondering about since they announced and and I just don't know why every company wants to make content now. But Wal-Mart is trying to push into. Entertainment. And first of all the name of their service is terrible it's called voodoo spelled BUDU. That is switch on letter away from do do mine die that. So yeah. You know that's how I feel about it. It did this program he's going to be produced by MGM so okay you got you know reputable firm that's going to be handling things there. Is Wal-Mart need to produce content. They don't they just see it being successful for everyone else and to me when I see a company like Wal-Mart jumping into the content production bandwagon right Amazon's been successful with that Netflix. Has been successful would that. When I see a company that has nothing to do with it jumping into it I say that's the death of this. Huge expansion of original content to receive radio it it is right now the golden age of television has been. Yet it's eight it it feels like over saturation this is kind of like that picture from about three years ago in China where he saw a guy sitting on the side of the road selling bananas in his computer had the stock market right in immediately after the Chinese market crashed as it was just OK that person has no business day trading stocks. From the side of the road selling bananas. In this case Wal-Mart is sitting there on the side of the road they have no business being on the selling bananas and they're saying hey I can do this in. It's don't think they can do it sounds like you're in the same boat. And I think this is a mistake for Wal-Mart I don't think they're pouring that much money into it which I guess. If we think it's a failure and a significant than not when inevitable if you wanna do content production you can't just dip your toe. Now here just come out with one hits and say OK well that worked for us so there's one other thing you're doing I'm just curious how it works there also investigated joint venture with a company called echo yeah. This is in New York started that focuses on quote interactive storytelling which is a video format that allows viewers to control the plot of commercials and television episodes you remember those little books that you could read back and your adventure book yeah yeah. It's like. So I'm guessing this doesn't mean that you can control the commercial like everything that person does. But hey if enough people vote a here's what's gonna happen if enough people vote be yours it's gonna happen. Who cares. Like there's a reason why most books art choose your own adventure book paying Netflix is doing that though there are no black bear their duel and a pectoral and storyline. The black person tremendous show appearance in. I have a number alone so I feel like it would make me even more paranoid about technology and I RTM and Sunday you don't don't watch it all oral. Oh well that's good at least quick break here when we come back we'll get the answer to trivia and also helping to crack down on spam. The financial exchanges alive on FaceBook so lectured like your page and watched the guys break down the latest on the markets every day beginning at on 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 Todd for years on the legal exchange radio program know that he's expert and elder law in the state claiming so you're just starting or into the retirement process you're going to want your trust documents to be prepared properly so in 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 will -- applicable trust that contains the specific language that must be included and more importantly link to must be avoided -- your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. At 866845699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed dot com. Hi this is very are strong and I know that many of -- who listened to my show are retired or nearing retirement neat 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 -- 803934001. -- download it right now on our website Armstrong advisory dot com. There is offered to securities America incorporated members in SA BC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated are. You're having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy calming at 781. 862. 119 B at 781. 862. 1190. Or he can visit them online 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 or were having a conversation today. Regarding retirement income and chuck it strikes me you know we go to work every day we put money into our 401K plans typically it's going into. Mutual funds or exchange traded funds that we're using to accumulate wealth. During our working your 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 a powerful. You gave it really does change and specifically war go to more in 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 combination of dividend paying stocks. It can be equities that you simply pick 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 he's like a copy of our October guide call 803934001. This guide will help you. Design and develop retirement income from your investment portfolio 803934. Zeros or one. Or can download right now by visiting our strong advisory dot com Armstrong advisory dot com or 803934001. 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. Yeah Larry chuck in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. So our trivia question last segments. Was in how many bond films and Roger Moore played the ruled James Bonnie answer was seven live and let die the man with the golden gun the spy who loved me. Rule breaker for your eyes only octopus in a view to kill whether it. Paul from Lynn Massachusetts have a cricket seventh correct answer and our trivia contest is brought to buy seasons 52. With 43 locations nationwide including two in the Boston area and one in West Palm Beach seasons fifty twos on a mission a mission to provide you with a better way to eat. Visit seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens or go to seasons 52 dot com permit new information and reservations. Book your holiday party today and get a special gift for all of your guests. Do the two have you ever on your cell phone get calls that look like they're coming pretty much from your number of with a couple changes chuck I've had. Three of the past two days. Does anyone that I known if if you don't get these calls please let us know I'd like to have as I already have largely stopped recently just because I've blocked so many of them that I've most numbers from my area code or block now yeah. Which may or may not be good thing but no one's dealing with this prop before in the past week for me for. I've password I get a ton of them probably I prior average water Tuesday. And you're right there's no. There's certainly no government organization dealing with that the carriers are definitely not dealing with that but apple and Google are taking it upon themselves come up with something because they know it's a huge complaint they want people continue to use their phones obviously he so bear doing something with it and I I like. I like a couple the solutions actually what I Stephanie talking about. So I like the one that Google is doing in particular I think it's just a neat technology but what they're doing is they're gonna how they're gonna roll out a screen this call button. So have you pop up in your phone's ringing in the new look at the number and you say I think this is garbage and there's a screen call button. And the Google assistant will hop on and they'll let the collar no hey were screened this call. And asked them for their name and so you'll be obviously just looking at the phone in the region transcript of what that person missing on the phone. And you gotta say oh yeah it's my. Long lost cousin Becky she's calling me or did Jackie how would you knows that it's your long lost cousin Becky if she was long lost then yeah good question she. You know says that but presumably to be a lot easier to tell if there's human on the wonder if it's just neat yeah recording which is 99%. Of these calls that go to your phone. So I like that technology apple is treating it different way they're trying to look at the data behind the incoming call to determine whether there you know legitimate or whether there for Internet calls with a fake phone number. I don't understand the technology behind how they do that they do at wells can be good solution as well. They need to do something yes somebody's got decent deals off the weird part is is that the location is like the next town over from every time. Aria however. War Perry where'd I did go through a brief maybe two or three month your words getting a lot of calls from Nevada but that might just because I've been in the casino prior to that and who knows you know somebody you've got to do that it would be fun because of that is set I didn't ever know you are on the door yeah exactly. A story out of the Wall Street Journal today. According to wide number of economists. That were surveyed by the Wall Street Journal. They are relatively ambivalent on this new deal. With Canada and Mexico saying it's probably not in a boost the number of manufacturing jobs because the changes are largely on the periphery not to really directed. At any core components and the says this is soft data you know it's it's pulling economists and determine what they think is going to happen and frankly economists aren't always right 70% of them said they don't expect big changes in the US economy and he. I'm among them I don't think that didn't newly written have to deal is all that big of a change so I wouldn't expect a huge impact the economy either. But. You know I think there are parts of it there were largely good for the US economy and even if it's around the periphery it's something. On it largely takes the worst case scenario of not getting a deal off the table right I think that's the big thing is some of that tale and risky says okay that's that's gone at this point. Yep folks you have that trust to protect your assets if not in your closing in on retirement this messages for you planning for retirement can be complicated to his best to deal with an expert who can advise you on the many elements that will affect the process including how to keep your assets at a probate. And protect them from the nursing home. Todd let's he's a partner with the law firm of Christian and Dolan an expert in all that law is new guy out this month to help you understand how to design. In Euro will trusted to include the exact language that you need. To protect your assets from probate in the nursing home. This got as yours luckily 8668485699. On talk radio should illegal exchange he always discusses issues that can affect you in later life. If you're retired are beginning to start your retirement planning and you have questions about your existing trust you need to know which kind of trust is right for you. And call 866848569. And right now and ask for Todd brand new guide how to design an income only irrevocable trust. Again that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. So in a little bit we've got Paul Monica from CNN money who's going to be joining us and about five or ten minutes. So I've wanted to make sure we got a couple stories in. That we were gonna cover a little bit later but since we're live close to you know get minutes left now want action that we got to the some real doozies yet we got we got them some doozies as Tucker put it. The first one is about a sneaker starter by the name all birds okay and our interview familiar with I am. I morning but I CN advertise on matter they have faced a few other illness so I've got I've got a pair from their comfortable as all of the art. Really comfortable shoes the fact that they may comfortable shoes in a really good product. Doesn't get them off the hook for being too. High and mighty about what they think they're company with a price point for these like in about 95. It's an account pride themselves it's all just there are issues of native just to mr. wooden bull wore it. Wood and it will what was our couple. Well it's reasonable party could depends what part of its way out of it would top fifth okay. Let's go outside and if someone's. Feet yet that's exactly what they do cotton balls anyway insists it's. So the founder okay that there is more talk about them they just raised a whole bunch of money. The value the company at one point four billion dollars which is pretty impressive for you know relatively new sneaker company like that's a lot of growth in the short period of time. The co-founder. Comes out and says quote. We've never thought of ourselves as a shoe companies we've never even thought of ourselves shoe company will let you thought of yourself fast you sell shoes makes shoes and your if you come quote the company instead is focused on delivering every day comfort in a really elevated way. Threw shoes. This is eight. But they also the company website states mother nature's use. In the states that their new issues are made from quote magical eucalyptus tree 50. Again these are really comfortable shoes so this book and sell them as really comfortable shoes. Like when you say oh we're not really shoe company work comfort company. What does that mean your shoe company know if you sold orders than he'd be a comfort her company. But yes sells shoes the next thing he's gonna tell us that he's attacked topics that whatever company wants to be these days we're like you know shoot technology that's for you feet speech technology we're thinking about putting shock absorbers in our shoes based on blocked Jeanne we're gonna college exchange they that that's one step away from that pretty much so. Again reelect issues really good shoes and all of the issues. But what you go out and sometimes you just have to say hey there's a little crap went on here too. The story is one that you brought to my attention like it's from USA today and headline is sorry but you're growing your burgers wrong in it could kill you. Obviously it's really clicked Haiti yeah why could my burgers Kilmeade well. So this summer which had a number of issues with the E. Coli specifically the there's a big recall of ground beef containing critical and Florida. And that point that they make here is that when your buying new ground beef at the store processed ground beef. As many as 400 animals are going into this commercially ground beef that your line at the store which. Is not what I wanted to hear today that. Gross you out as the point is if you don't need to consume a lot of infected beef to get sick. And when you put 400 how is into the you know into the pound of ground beef that your buying your statistical likelihood of eating salmon that. Infected beef goes up pretty is why grandma and beef. Yeah I guess that's less realistic way you grind your own beef. I ground my own beef. Whining because I think it's better I got I get a meat grinder so I do that and make my own sausage. My grandma I'll be forty keep all the stuff the freezer. Although like the grinder in the the sausage casing that we have we have a cabinet for her so it it all goes in there and I've never gotten E. Coli. Look at this thing to deal so it's it's a pretty good deal yet so if if you ever need a free lesson or anything I'm happy to teach him you know we do we do get an Amazon. Yes that story really grossed me out aviation at the thought process that 400 different animals are going into my underground beef really bothered there's some I forget who was there's a prominent. Bile registered to pile of trying to prominent study here of different diseases and everything that actually named one of his daughters. Answer it Shia which is that the EE coli which I just think it's phenomenal like clearly. Your daughters named after E. Coli I think he's just outstanding. But aides look again it's a little gross that there are 400 animals potentially in one burger the easy solution. Get a meat grinder either hand held wonder when it's attached to it you know. What's that would you have them I. San held want to know we have a a kitchen aid and so we haven't attachment for that dollars it's all pretty easy there are also expensive now it's it's it's not bad you are I think the actual writers like 35 bucks or something yeah I am looking it was like 300. Yeah it will we got six years ago so any ties is pretty well they actually have flight and all lean meat grinder for like 54 box yet. Yeah it's Tony I use it all the time explaining about the story but I probably in two days. If it doesn't look like a great and it doesn't take long it takes maybe five meant a trolley just gonna run the call iris. Rolled the dice there you go there is that. We're gonna take a break coming up we'll get all the Monica from CNN money here to talk about JPMorgan. And the day they announced there. Earnings right after the. Us be a part of the financial exchange in an instant by texting us and 63566. Started to extra keyword Barry and become a member of our brand new textbooks tell us what you think 24 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 in 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 -- designing the income only 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 -- 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. 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 disk call the easy deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank step ahead. 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 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 cult 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 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 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 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. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our web site Armstrong advisory dot com. Securities offered to securities America incorporated members in SA BC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Security suffered two securities America ink members finreg SIPC. Advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated business news is constantly break and we're here to 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. Paul the Monica from CNN business joins us on the line right now and Paul before we get into stocks have passed along my condolences on the New York football giants. Looks like the end is near for Eli. They it was not. There are not pretty. Which Eli is these one person on the football field that as a patriots fans scares me more than anyone else. But it's it's it's sad I think he's just at. I I don't that's no we're going to have a giant patriot. Part three mr. football in my children children what. Then again it has looked like this early on in seasons before for the giants and it turned it around but. This one could be different here let's talk about JPMorgan we had a whole bunch of banks that came out with earnings this morning JPMorgan being one of them. Opened in positive territory rolled over here right now. Curious what your thoughts are on them in general before we get specifically earnings. Yeah I mean I think the numbers were up pretty solid you know debate had a history of beating. Earnings usually that pretty wide amounts I think maybe you know it's kind of expected. He's getting out if a pullback. You know they've been beat by a medial archer. There ultimately look at you know Wells Fargo expects they'll opt out on the air earnings which weren't nearly as impressive I think it was to the bar while. With a lot of banks the conventional wisdom is when interest rates are moving up. Banks are typically going to do well. In this case JPMorgan opened the year. 107 dollars a share right now. 107 dollars a share even though the ten year treasury is gone from 24. Up to almost 32 I'm curious your thoughts as to why we haven't seen much movement in this share stock price as well as other banks as well. Not a great question and I think that there might be down. Concerns about the negative effect of rising rate now obviously you know it does make long more profitable. Margins but you do also have the demand side of the equation they circuitry. Thirty year fixed that you know which 5%. That might need it water difficult war. People you get financing could via. Further slowdown may be in the housing market with Korea. Couple of locations where. Prices are starting to to slow you know you don't read the increases smiling. Some cases were pressed through going down I think you know that could be yet problem. For any back with a mortgage the art that are. All the last five years we've seen a rise in an a large number of in tech companies coming in and trying to undercut. The pricing structure of the legacy companies like at JPMorgan it could be the robo advisors on that side of things can be companies like been mown PayPal on the payment side. What is JPMorgan Chase doing in order. To kind of combat those. Types of companies and do they need to be doing more at this point. Yeah I think that it a good question and you you have JPMorgan with it that. That fire you know credit card. I think that something where they're trying to offer more work. Edit it in her if need be get people used date we traditional banks that those two. And on it he should there are a mobile apps that they all the big banks. Is there anyone in particular when you when you look at JPMorgan is there any company that potentially looks like an acquisition candidate for them either. Smaller regional banks or yet any kind of tech company to maybe get into that space a little bit more happily. I think possibly on the tax side I would ruled out you'll air I'd be very surprised if not JPMorgan were to try and increase the banking footprint with a regional thing that we haven't had. They get a lot of banking deals lately and I think. That you'll many of the big banks are looking cute in there possibly that dramatically especially at a bank like that there are ready so. Large that they you know I think they start. Capped when it in the search for the Federal Reserve they were they significant deal. Very good Paul we got a lot to go but thanks for the time and will catch up with the next week. Poll Monica from CNN business talking about JPMorgan. Chase. Some continued news on the on the Sears front as seniors apparently. Is it's trying to go through restructuring but a lot of its lenders trying to make a push. For a liquidation. We got an update just a little while ago that it looks like Sears has received. Let's see what this is here it looks like they've received the ability I don't know exactly what but. They who looks like they have the ability to stay afloat through the Christmas season right now. I'm not server really matters. I mean it's prior good thing for their lenders. They're lenders are pride is trying to really push them to get one more holiday shopping season and just close the doors January 2. Just try to get rid of as much as two hours to get as much regulatory out of there you know get a little bit more revenue in and take your you know twenty cents on the knowledge and up with the bond holder here it it doesn't look like there are some pretty good deals right now. Like I'm I'm at Sears dot com 40% off appliances. You can also have warranties not be worth much better now and now he certainly can't. You can't get much for the identities are pretty good dealer. Let me energy in general or and a program. We see if they have anything that looks good out there on the TV supposedly so Black Friday amid the prom does this mean no inventory like knowing selling inventory at Sears right now. Now it's your supplier in ago toss about stuff and steer stork you're in eight. Yet you yet the news not much going on on that side of things. Quick look at markets briefly all major Z still in positive territory be given away some of those gains as we look to see if this market to bounce back from two sweet days. Don't tell me after the date and it's. Votes Friday so I guess enjoy the weekend and we will see you next week.