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Full Show 10-16-18

Oct 16, 2018|

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave 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 very Armstrong and chuck Exxon. Federal government deficits are growing at a rapid rate setting a record level every day. Bloomberg is going public and 120 billion dollar market valuation I don't think so and then finally we're gonna talk about the jobs report that jolt reports that came out moments ago hi everybody it's Varian John Moody with you here it's a Tuesday morning. And the you're you're deficit. Yea he eat you know a lot of guys like talkative and you're the one that's always most concerned. About. Federal deficits. Second year in a row and pretty high level up 17% from last year. I mean this is a concern deficits are wonderful for rainy days deficits stimulate data can be used to stimulate economic growth. When you needed quietly having deficits when the economy's crack well that is the big question. And and our our budget deficit this year is a fish as an in the year ended September 30. Is up 17%. To 779. Billion dollars up from 666. In here we just started this present fiscal year. The deficit is expected to hit one trillion dollars in the reason this is alarming is get 4% GDP these are good news. If in good times were running trillion dollar deficits what happens when we get a possible. These are numbers you would expect to see in a recession. In part of the problem is that in we talked but the before such a large amount of our government spending. Is me campaign. There's not a whole lot left in discretionary. Well lets you leave you said about legislation that says hey we're gonna cut Social Security we're gonna cut Medicare. Where cut military military spending was up 6% that would be that the the questionable expenditure here given where we are. Is the level of defense spending excessive but yeah. If you if you cut it 5%. Less likely to make it I used to go after Social Security in Medicare right to make you really wanna make it debt. You better raise taxes. Where you've got to cut social programs in this is the issue in and we're at a point right now with the national debt. Seek of people get confused with a deficit the debt we only need to go all geek on year but you know the deficit is what we had every year by a oh. What we spent the we've been taken. That debt is the pile of money that accumulates over for a the debt and that is that would never be paid Olympic paid off but wait to be manageable if you want it to in good times you want that to go down. Which in night last time I remember going down and you can correct me and I was 1999 to get out here we have surpluses. In and put those. Exuberant yours right at the market was rallying yeah economy was ripping wages for a housing was strong in Ellison the debt was going down yet ran surpluses. Now at the same in a but were having to bet that some people concerned it certainly should because we're now appoint at least you'll what does this all adding up and what happens when things go back. Yeah and and we have a national debt at a at all lot of 24 point one trillion dollars that's a number that even if you're. Big with numbers you can even relief album but the to put in perspective of because it's a big economy. The GDP. Is now only about twenty trillion I see only. In the national that is now higher than our GDP. This is a point where really should be an issue that we turning Japanese. That that's the risk and the risk is this that debt the interest on the debt especially is interest rates become normalized. He's gonna eat more and more. Out of what we can spend so that's that's the tragic we had looked at it we can argue all we should cut money in in you know health care spending their defense. For into slower on the that we get nothing but let's just talk about what's the consequent. Pleased that the debt threatening them right. You've got deficit hawks out there used to be conservatives were deficit hawks right here and dates all the debt the debt the debt. OK so. Eat it does spiral control. Was me just rapid inflation devaluation of currency it means that at some point investors. Whether they're domestic or international whatever gonna say. I want more interest to buy your debt where you want to sell me a ten year treasury point 15% or 6% or 7%. And you know right now we get the benefit of the rest of the world particularly Europe's still being kind of in crisis and still being in that zero interest rate mode it's a weakened. We can get we can pedal to percent to 3%. At some point in normalize world when our debt it's out of trouble and gets out of control. Investors gonna demand more and if that even if that never happens look at look at the behind me right now work. We'd love to spend more on good projects that have a societal benefit that we infrastructure. It's being crowded out by. The death now of the roads we drive. Yeah absolutely. Let's talk about vote. Over Hoover. Suggesting that they're gonna hire either Morgan Stanley or Goldman Sachs may be both. Yeah probably both in fact Albert today and have a whole bunch of underwriters yet happen doesn't yet. And suggesting. That the company miraculous he's worth a 120 billion dollars like I I don't know where. They're getting that from nine no I understand folks when Goldman Sachs goes to boo birds as they wanna be your best actor Heath. They they have to pitch that high price is right is going your listing your home for their right to Ruth's all are worth a fortune John I can get yeah million for this place I've never seen the place so nice yeah. Yeah it so yeah they're the plan is here for all over to go public in the next year. If I first quarter next year yet if I was them I'd be hurrying out because that the IPO market is very strong I speak on. Firsthand experience here if they're hard to get the being priced aggressively and are doing very well in the aftermarket. So after a big drop a couple of years ago on valuation. As in their defense really right righted the ship goods CEO but why but I Biden. When I'm looking at General Motors and I'm looking at Wayne in them sane these two companies that are on the costs. Of self driving technology will be able rolling out self driving taxis. In Q4. Of this year. I'll take a quick aside and act I I I don't necessarily disagree with you but the argument would be. There's other people doing that. And it's it's it's important but Cooper has a very fantastic. Advantage in terms of what they do it's forest scale. Being a lot of places having a model that now works quite well people like people like you. You know if you gave me a hundred billion dollars and said build the new looper I think that's a Berry had better things you do with your money into their record to beat them and General Motors is great. Ford is great but there's a lot of people would make really nice cars but doesn't Hoover have to come out and say you know going public but we also have this joint venture where we're doing with Wayne. Because we get accurate of the drivers. The drivers that kill. Yet and I I think what's gonna happen is that drivers can get slowly phased out I think Powell well its. Ten years ten years fifteen years and write about the questions right away what what kind of where it is this next couple years. Bottom line is though barber who was gonna use that technology to its advantage. We can argue about who's gonna win the battle for technology whether it's going to be weighing whether it's going to be you know GM's project which is which is doing really well. But I fully filled with what was maybe the customers that in the argument over who make his. We are the leader business and it's a very hard not to crap if you ever try to compete without us what about lift. They have done well yeah maybe I use lip today you Woody's I is switched over to left real it's cheaper. Slightly slightly cheaper and cheaper is this a duopoly is this little guys that are driving by the way drive up the art is this Coke and Pepsi. I mean this may not be an either or dismayed via a venue where you were and Clifton have essentially a duopoly. Try to be the number three guy. It it it will be very well be the fate that the reason I'd be hesitant. To buy a mover on IPO is way. I I I'm scared to Purdue. But they're not going directly competition for an article in rolling out self they just ordered 60000 tax. So that if the technology to do it and they got that in the ordered the cars but can they execute and that's my that's a great that's a you know it's not a national Internet grows in Paris. Everybody used to. Right he taxi is he the did value of the taxi medallion paris' diminished the same degrees it has in New York City Guam. The people love over a evil act are usually 88 we used her. My son is taking a business course and MBA at Boston University you know and he turned beyond this concept in business which really is I think an overriding concept. The value of companies today is largely based on their platforms. And and the platform that Lowber happens. I think has an immense amount about. And they can use that platform. To expand their business and they can use this in by this technology if they need to. But would you rather have the platform or the technology. Could question I'd like Debra I might feel it and and I think the question news. In Wayne mole developed the platform. Faster than Hoover can develop the technology. And it will and will Ringo will be able license they're techno seek Wimbledon boomer what evil was huge investor in new. Right and then call an expert of them and and now they're there right now I don't know eat it are they back in bed again. We re happy some great question because they can both be successful in their own way but they might not be successful and what the other guy does win that's what we know could say hey we're GNU license this technology lift rail transit taxi dot com you know license it. The two Wilbur license ever to pass some stupid or Wayne mow is cool Corretja wholly owned. Gotcha that the the you know if you if you talk to people in the transportation business. They will tell you that we mall is light years ahead of everybody else although General Motors reportedly. Is is right up there I hope so. But yummy General Motors may effect General Motors may roll out a separate IPO. Of the driver was division and by the way it's gotta be pretty good because Honda signed up as an on faster in that brought pride in I've heard some people say. General Motors is actually kind of nuevo. In the technology I had not heard that I mean there are some people believe that. When we come back room to talk about the job market if you're looking for work. There are no excuses lots of jobs out there that's next on the opening talks. For breaking financial news. The financial exchange with a Barry Armstrong and chuck sub on the financial exchange radio network. Hi this is very Armstrong amazingly over 20% of Americans have saved nothing for their retirement can you imagine you're 65 and you haven't saved a -- hopefully none of you listening today are in that boat -- whatever you save for retirement I'd like to help you devise a strategy that will allow you to enjoy your later years my new guide out this month we'll help you learn strategies to help manage your portfolio and protected so that when it's time for you to retire your assets can be there to work for retirees have to worry about a lot of things where your money last can cover your expenses if you don't know the answers to these questions call me right now and 803934001. And request a copy of this brand new guide how to develop a retirement income strategy that's 803934001. Or download it right now on our web site Armstrong advisory dot com -- Juries are for two 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. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently and believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cult 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 called today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Hi everybody it's Barry Armstrong and Jake two Lian were talking about a program called Z rent. Now this is specifically. Designed for those of you who are landlords and used to collector checks with paper checks are gosh maybe still do. Will zero rent allows you'd collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords. Absolutely vary so we we develops he rained two out of me the whole 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 erasing your notebooks now to what he does is it really digitize old. It makes the rent electronic payments it allows for roomy cheering for multiple roommates and apartments that's great if you're renting at the college student salute. It's predictable it comes at the same time every month. And it's all on me. So the landlords who have been using assisting huge time savings and ointment you are you still giving the first six months free for landlords the first six months or free and then in addition to that. If you bank it one of the participating banks he Renny is always brief. Those participating banks are meter being installed in messed me up at that any bank could sign up breakneck if you at a bank in Vermont to Connecticut. They could sign up and become part as he rent yup you your if you have a community bank that wants to be a member happened Collison will have and sign up and the service will then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net and give my call if you wanted to 8776917900. If your bank doesn't offer it they can sign up for zero it go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word. Married to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Okay. Heating season is right around the corner kick your hot water or steam boiler inspected B four hour. First cold snap leaves you out in the cold call the experts that easy plumbing they'll put. Your system through a comprehensive test and make sure that all the components are working properly. Get a head start on your winter preparations and call easy plumbing today 78186. To 1190. Mass master license number ones or 183. John we got a jolt report this morning 10 AM first tell everybody what it is and then I'll remind everybody what the numbers were all of the backe yours okay that's a good perspective. It's called the job openings and labor turnover survey called jolts. And it's basically look at the number of jobs are actually out there available. And also how does that turn over of the workforce is progressing and that's really important you know what's the big deal with a big deal is when people feel confident enough to quit their jobs. They know they can get a better job. That is a great sign of help from the can't take this job has done just that it went. When you are empowered to sing that song and everything is very good in a long time as it's been a long time and in 2009. No one quit jobs even jobs they hate because they're just glad to have a job in 2009. People were taking voluntary pay cuts as the boss would come to them and say look we're trying to keep the company flew open and I know of several businesses locally here. That the boss would come to that says look. Ike in the week in either don't cut salaries and 30% and survive and thrive through this yes or I can fire happened. And we Michael wonder you know I remember several conversations that some large employers had. And you know employees and employers sometimes they can come together and do really good things in this case I remember a couple of employees employers. Who were able to come to agreement with Ian Williams who the police have will work with him you know you're being open with us will help you through this. But we're just the opposite of that right now I mean they're still good compared Leo good employees and employers but whether. These are issues yeah absolutely seven point 136. Million job openings right now I never remember that number it's never been over seven million. That's an and that's more than the number of unemployed people. In the country so we took every person who was. Physically or mentally incapable of working. And gave them a job there'd still be jobs open. Medical assistance to the use X number. You don't you mentioned that because I I wonder. It might be is as good as you think no because the U six number appears to repeat. And we these kind of numbers with a notes I had here was that. There's indications here that we really and truly are now 11. Because what's happened is. The number of long term unemployed has stopped dropping. That tells me the people who aren't working now then truly are physically unable to do what just don't want to. Right they're just saying under any circumstance they say I don't care what you pay me. It's not enough I'm on I got to the stuff I want to do it with a OP arts and other issues. And mental issues you met mentally I'm able to work would assistant corporate America. Thank you there's position we're literally everybody who wants to work can. Is now working with think about it Yuri deuce is going to be the most interesting Christmas season we've ever seen because you know you've got ever the economy rip. Right to restaurants are hiring UPS's hiring wal mart's hiring targets higher fedex's higher. Where the workers at a my question is if we have a gangbusters Christmas. I think is going to be bottlenecks and delays and he has because I don't do your Christmas shopping now. Dewey dot I don't think we have the physical infrastructure or the workforce to handle a surge above where we are now can you imagine yet guys like Carl Icahn. When the president saying. We need more workers. You know what that means means immigration yeah. I I think we're gonna have a clear your region that if you look at what we've done in terms of refugees and immigration we tightened that. I think you're gonna hit one of the big issues the next two years is going to be this issue of trying to make the distinction between legal immigration. And illegal immigration. In acting you gonna come to an agreement. That we need to continue. To you know have strong borders and keep illegals out keep the bad guys out while at the same time increasing. Legal immigration because it used to be John a lot of the argument against immigration was what they're taken my job. Regularity near there and they're taken my job and you know I can't support my family because that wages so. He's got more job openings in going back if you back to 2009. We today got more jobs that we have people the field in 2009 John he would seven applicants per job. And this is how quickly at the margin that about ten years later that we have a 140 million people in the workforce or more than that. The difference between a 135. Million and a 140 million is the difference between. Shortages in excess of workers so you know we're having this conversation I I fear that if we repeat this conversation three years will be saying. Oh Hopkins of chain effect. Motorcycles. The differences though. The the birth rate has been low for a long time. Birth rates in low since 20082007. And it's not come back it's still going down you know these gambling deals your son Tucker for his whole generation and I finally can talk who has contributed it me keep it right we'll talk to me when he said like three or four chalk it does does does talker of the make up world does he sell it all products of their six kids to offset the five that aren't that that's funny you. Come to our governor Mitt. Sixth two men 652 men a haircut and a low birth once in an aging society you know. And so again we're at a point now where we're gonna really have to take a look at Saturday to see this is by segue. In to talking John Moody out of retirement truck toilet. He John Moody's is God's intervention for a snapshot it's October 16 and John Maroney is retiring in three weeks three shows a lot he's got three shows left and a and acting I think we need to use this as a mechanism to get him you know it just in the actually I've acknowledged that you know they're they're. There's we have more we need for workers are quick basic to earth object hit a work. I'm turning sixty I mean that's like an ancient age yes yes but we'll talk about that. Later day coming up we're going to be talking about. In New England state. That is offering student loan assistance. If you just simply lived and worked in the state is amazing really they paid that this state in New England. Will pay your student loans. If you live there. Let that that's that's a good deal but a good deal hate. By the way folks Dow's up 265. Points. Life goes on FaceBook and followers on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the blocked sink or drain. What a leaky Foster a shower these types of minor problems can become big headaches if they're not dealt with quickly and efficiently 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. Co easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy calming at 781. 862. 1190s that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. Know that. 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Met 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 -- elder law in the state claiming so you're just starting -- into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you're wasting your time in your money on legal documents that don't work this month Todd has written a brand new god told designing the income only your inevitable 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 86684856998668485699. 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 Armstrong and if your landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to enter their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and even send out annual interest payments directly to attendants just call the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank step ahead. 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Time now for Wall Street watch a look at the market's performance so far today and I don't Berrian jug right here on the financial exchange radio network. This is John Mooney and time now for Wall Street watch presented by leader bank looking for great gift for the holidays leader frank is a wide selection of gold and silver bullion coins available at their all the locations. Call leader break an 8776917900. For more information on Wall Street replied to it looks like a fantastic day the Dow up 212 points the NASDAQ up 75. S&P up 23 all green arrows so what was last week. Last week was not I do you guys one week. I take one week's vacation he's not the whole way to go about it if I am certain there in my. You know and my wife and I were talking about them is once the market craters that you'd open is over their nutrients than. I am a couple of scrapes a new Xbox aren't exactly. My question is no no he's probably enjoying a nice French did or not even painters as I don't know if he's dared to rest think I gotta get back but I think it broadens the market doesn't close over their toll ten or eleven why it's a you have the stuff like twice as much you would be here but the bottom line as. Great day today market up to 26. You know earnings have come to the rescue in this glass half full glass half empty. In our concerns about everything and there's everything geopolitical interest rates you name it. One thing that's really good news is earnings which are very good thing to give up 21% this quarter over 20% for the year. And Goldman Sachs which is a Bellwether came through its head with fantastic earnings. The banks came through with good earnings soared didn't some reassurance at least in terms of what's going out there in the real world. Matters there's really good news to him and he unity bats that's ultimately what's gonna drive and a person stocks at the end of the day it's measuring earnings and then just we gotta keep an eye and interest rates because that's the gravity that kind of key. Prices from going a lot higher so wanna keep an eye and that's with a lot of given go here you know in the next next year. Known as. For its lobsters and lighthouses Maine also has one of the oldest populations in the United States the meat you eat in the state of Manger on his 43. Yeah and around five years older. And the rest of the country to attract younger workers. Mean is providing tax credits to student loan borrowers. Brilliant strategy. I think it's absolutely brilliant and you know we say that it. Municipalities. And states and governments need to take a page from private enterprise and find out what it is people do in the real world to attract people and keep people and get people go work for you. One of things here private enterprise people want to have help. With their student loans and you know maybe he is offering student loan help to people who lived in Maine and worked in the state. And I just think it's a great idea because they. The population's getting older. People are moving out there they're trying to encourage. Smart people to study. In. Is it's a tax credit program. So if you're paying 200 dollars a Maarten in student loans the end of the year when you file your tax return your state tax return enemy has pretty high income taxes you. You're gonna get a tax credit. Equal to the amount of the student loans up to 200 bucks more if you're standing by you purist science technology major. You can get more but that's that took like most brilliant when they graduate college are gonna have student loan payments. You know the kids I know if you've got 40000 dollars in your student loan payment on that might be anywhere from two to 303 and fifty bucks a month. So for all of sudden stated means paying for in east. That being nice place to raise a family and if nothing else they're gonna pay a student loans and think about what that means for Portland for or remain immune peppers is making 80000 dollars 100000 dollars you look at that state tax next year gale year after year to that. The defective product and all the home repairing a property taxes gonna help your community. At a time when they're losing people it makes a lot of economic sense and we talk with the fact the private employers. Are now offering is sometimes in lieu of 401K matches or an addition of one game matches. This type of program to help students with their debt and we're seeing survey after survey. Of people coming out of college saying their number one war eaten is paying them well enough to think about it. Or view your gradually from what were you graduate from northeast earn Yale whatever you. If you have an opportunity to work for Biotech written in Cambridge and they're gonna save you will pay the first 300 dollars a month there's problems. She lives that's hard to turn now and it's Smart move on their part to do that so. You know kudos to Maine for doing this sometimes you know. Necessity is the mother of invention dale and a lot of times when you push to go back to the wall you do the things you. Probably need to do and you come up with creative ways to get by him. You know me who's dealing with a crisis like is that the average age of median age being 43 button that is not good news because that means people were younger or leaving this hall. Does this absolutely no big impact. It you know the problem is we report on it today won't have an impact for ten years true but it it does send a powerful message though if I'm Gillard. A college kid or or even high school kid in Maine. In them you know thinking about don't do I wanna settle down work in the financial industry in Portland where there's when you find places to work or don't wanna relocate go to Boston to elect Rhode Island should be some. Yesterday rate road this is something yet great schools that are yeah and and they should be doing a program absolute. Amazingly folks over 20%. Of Americans have saved nothing. For their retirement can you imagine your 65 in haven't saved a nickle. Hopefully none of you listening today or in that boat but whatever you had saved for retirement I'd like to help you devise a strategy. That lot you to enjoy your later years. My new guy it's out for the month of October. With help you learn strategies to manage your portfolio. And protect so that when it's time for you to retire your assets can be their work for. Retirees have to worry about a lot of things. You were money William money last. Can cover your expenses if you don't know the answers to these questions call me right now and 800. 3934001. And request a copy of this brand new guide. How to develop a retirement income strategy the phone number is 800. 3934001. To 80393. Forwards euros or one or if you want to guide right now simply visit our website. Which is Armstrong advisory. Dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. See the steelworkers reached an agreement. Nice deal 141000. Workers united steelworkers four year deal I wish I could that throw little worldwide in this but that we don't know what the actual terms are we well looks like they're going to 24 bucks an entry is that would you understand okay I I didn't get the actual increase. On percentage haven't given the d.s at the lowest tier workers. Would earn twenty dollar per hour okay. But that scene jobs if you're entry you'd be twenty bucks now. And then by 20/20 three which is five years from he'd be 2466. And such a 21%. Raise over the course of a few years ago. Well those are those but again those of Lois jobs what you said and that's going to be tough jobs to fill yes because if you're steelworkers today. Yeah ten like you'll Coleman of if you're coal miner him. Thirty years ago forty years ago did you did you for Coleman absolutely not rate and if you're steel worker today. Right you're seniors did they get an education go become a doctor is like that that's that's kind of what happens with the side. Yet and these are tough jobs to fill American imagine as a whole bunch of people studying to be steelworkers. You know you see this as a general labor job that some poetry is a very difficult job it's hard work. But these are exactly the kind of jobs that are really hard to feel right now. Beautiful thing is this regardless of what they set as a minimum wage the real world wage is going to be hired Matt. Because that's entry level wages or Tonya that 20/20 four. That's you know after you've been their tenure Jamaican yet so I mean it's it's nice that they have that and and here's the thing about the minimums. If we do end up in the downturn but if you really glad they have the protection of those minimums because they could lose their job that's true if it again if you know the job but it pays early well here at. If they did have a job it would make a lot that's that's the whole challenge with union work yeah. Yet they they'll stand by ending good times that you get these hotel workers in route on strike now. Right in they're gonna get the I I think that eventually burial will pay the workers. Bought. When things go south those workers hit the road side the thing that ruins everything is economic cycles here. Right because you come up with a plan the makes perfect sense and fair right now game and then you recession and we can't even afford that. Daniel boom times like this and it's like what we should be paying for. Unfortunately pain is not variable it's generally fixed. And that's a great challenge. There if you saw the numbers are not folks but MGM Springfield. Raking in. 27. Billion dollars of gross gaming revenues in the month of September yeah I found most interesting about this eighteen billion of that is from slot machines. Machines Europe big business. And eight are always busy. They always in the field with them they'll make that noise sprinkling a you go to you feel like you're a person was in fact everybody's losing look. 27 million dollar with strike they think they're MGM made 27 million dollars that means so lost 27. Don't want to SpinRite didn't exactly. Against us. That's no one who can read an income statement from the casinos I would ever really be a patron. Because the numbers here are pretty amazing eighteen million profit. From slot machines alone if you ever read quarterly report for these companies I have. East Avery in the report anchor yet we make our money off the addicted gamblers to live within ten miles concede casino who basically. Spend all the money they're 41 K yeah end their life savings lose their homes to foreclosure that is our perfect. That that's our source of income that that's how we make money is played when the game now. Last night my point is it's used to love the here's here's the net the math right yes. MGM Springfield may twenty million dollars or 27 million dollars. The state made about seven million off of that via. And the city of spring gets six point seven million they get the city gets paid a 1000005 month everybody's winning everybody's waving good except for the guy who put their money in the slot machine who's lost and don't play slots with does what are you play. They figure girl that you go to the Cassini should say and it. The guy you shed its old location you're gonna lose that the secret sauce it's on the C get the secret sauce with. Slots that are read about this is the fact that it takes a long time to lose a lot of money. You can get a lot of action in guns fifty bucks hundred box. The payback is something like 9596%. 97%. So if you're betting like a hundred dollars. You get 97. So you bet the 97. To 94 that back it takes a long time to get wiped out. Which is speed which is the seduction of these machines you actually get a lot of wins he'd go to the scenes if he's miserable you walk around did you look at the people. It just Britain you know cigarettes and everything just a I ask I've never just apps from cigarettes I've never really an apple it's it's the sound of everybody winning and look at everybody's losing Leo. Now if you wanna be Euro really depressing go to any casino elect. Tuesday I'd like 11 AM and there are people there and what are you doing not a because I was okay. I doubt about it I was that'll work once start a coming up will be joined by Jennifer Warren from seeking alpha grab a pen and paper stock stock is next in the financial. It's hard to dial a phone or send an email with too dumb but it's easy to text we've got and tech sign up and running and you can tell us what you think right now by texting us at 63566. He skewered battery and join our exclusive club this is the financial exchange radio network. You have a trust to protect your assets it's not your closing in on retirement this messages for you planning for retirement can be complicated so it's 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 -- -- is a partner with the law firm of -- in Dolan and an expert an elder -- is new kind of this month we'll help you understand how to design and irrevocable trust into will include the exact language that you need to protect your assets from -- in the nursing -- this guy does yours by calling 8668485699. -- -- radio show the legal exchange the always discusses issues they can affect you in later life if you're retired or beginning the starter retirement plan and then you have questions about your existing trust or need to know which kind of trust is right for you call 8668485699. Right now and ask for drugs brand new guide current design and income only radical trust that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. If you're real estate or property management company you need a 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 it's -- to -- rent payment platform leader bank has -- 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 they're banking partner or call 8776917. To 900 or email BDO at leader bank dot com for more information member FDIC equal housing lender. Hi everybody it's very Armstrong in potluck ski from the legal exchange showed dot com we're talking about. Cushing and old guy for the month of October called Medicaid income trusts. Todd I have to confess the average person. Is not going to know waited 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. A Medicaid. Income trust or an asset protection trust you know their I think that's the best question ever because you're right they don't know as much as we try to educate them. It's just too hard to languages too technical and and and people aren't gonna know one player and others so when you're looking to hire a lawyer to do this. I think one you should find out if they spend a 100% of their time. To winning est plane via taxes estates trusts you know that's it. If they're busy running their personal injury court they can't keep opera you know it's hard enough for me to keep up. And I door all the time. But also make sure on their car when you get their card that you see the letters LLM after their name. That usually means that they have a masters in legal letters and taxation mean certainly need that need to understand taxes when you're drafting trust you do unfortunately that from personal experience. And lastly I would say when you leave the meeting you know what you wanna have a flat feet. Right when note it's gonna cut you don't wanna be billed you know by the hour for this work exactly and when you leave that you had a great understanding of what was done you're not asking more questions. Then when you came in. Good advice from Todd let's keep you'd like a 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 the website legal exchange showed dot com. Or call him tool free at 866848569. Stay on top of breaking financial news by becoming a member of the club and carries brigade. Log on to financial exchange or dot com and sign up today. Is there investment opportunities in energy especially cleaner energy. Jennifer Warren is with seeking alpha Jennifer thanks for joining us. I just for him and Armstrong is interesting has a huge yield and performing very nicely the last five years what is exactly they do. They and Pakistan. What they call programmatic. Access the hip hop positive greenhouse gas at meaning. Planet cleaner energy infrastructure as well as around like water pump conservation infrastructure can also be energy efficiency. Projects. Renewable like solar and wind. So it's it's a large variety of access. Assets related to clean energy and battery at least sources. As it relates to climate change and sustainability. Can we think of him and as almost an energy investment fund. It seeks out Smart energy investments. Didn't they they do they write the checks but these investments from. They are deep and invest store and and also offer you know services to the top engineering companies in the world. They have deep and long relationship with these various engineering firms. And that is kind of like Ike a cornerstone of their business. Reliable pipelines. As projects that are high quality. Rejected the the stock itself has a huge dividend yield more than double the market. To meet that's oftentimes a red flag what is the risk that the market sees in this investment that maybe others might Nazi. You know I think the stock vision went down like a year ago and in the last like your behalf because. The changing interest rate environment. And I think. The market if had a hard time classifying exactly what Hannon Armstrong does. In the commercial mortgage REIT bucket either and the infrastructure read packet. I'm it's classified as a read but I just considerate and infrastructure play and then later infrastructure and I think the market opportunity. It's large going forward. That the risks are you know. The risk to any stock in general is that you know we have recessions you know maybe. Maybe there's not as many projects and infrastructure. That would be a downside. However because they're in space where they've come in vesta the smaller side projects. I think that's actually a competitive advantage for them relative to that the other types of infrastructure. Investors or engineering and Chris. So just. This can be more like being under a rock and under cloud which is a good thing a lot of times that's undetected the value. Let's turn over to oxy Pete Occidental Petroleum much better known obviously. Tell us why you like this traditional oil place. Well I like them first because they've done quite well. Even with the downturn we had an oil prices. They. Historically had low debt. They've always. Yeah they've paid a very good dividend. Like the last sixteen years they've had a 12% continue its annual growth in their dividend. It's north 4%. They're conservatives. Even when he had to have a considerable amount of Permian Basin acreage we just can't pot and a oil producing area. And even then they approached. Fracking conservatively. But now they're you know one of the other is some of the best well. But what I also liked about them if they're diversified. They have midstream assets. Can I chemicals business and export capabilities. What price the price of oil they need to make to make solid profits. Today that they. In the fifty dollar rate. That it made. They'd they'd see signs that's kind of their break even threshold then that would. So an oil prices are a decent rain and and that's. Reeling not expected to change. You know considerably I think even the just say hypothetically we had a recession and then a year or Q I just. Don't see oil prices. Going accountable levels that they did during that for the. Not not nearly that level yet no Christmas. Jennifer Warren thank you very much for your put on those two stocks Hannon Armstrong each AS RI and Occidental Petroleum oxy OXY thank you very much. You're seeing you talk about where it's at 7152. And when we come back in the next hour we're gonna take a deep dive into oil what are the some of the geopolitical. Risks that could cause a way to rally in price how do you hedge for that how do you invest around the potential increase in the price of oil. That's what we're talking about the Dow's up 328 points the S and tees up thirty forced Berry and John. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing calling 8776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender. And MLS number 449250. Subject to credit approval leader bank a step ahead do you think you have enough money to last for your retirement. Think hard because if you don't the Armstrong advisory group has a brand new guide of this month called how to develop a retirement income strategy. Did yours today by calling 803934001. Or downloaded right now on our website Armstrong advisory dot com securities are for the securities America incorporated member been reticent PC and advisory services are for the securities America advisors incorporated Barry Armstrong represented a Armstrong advisory group in the securities America companies are unaffiliated. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to Todd for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting -- into the retirement process you're going to want your trust documents to be prepared properly so in 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 god told designing the income will lire applicable trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's yours for free. You by calling 866848569. Iron at 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 online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816. Hoping income while you're in retirement you worked all your life in 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 retire and you say well gee I need 3000 dollars a month I need to design and develop income from my portfolio how does one do that in today's market shock when interest rates are so low. Well it really is a challenge because you don't have the fixed income options that we used to CDs bonds that were yielding 567%. That does not here anymore and wanted to take our treasuries like 310. In one of the real challenges I think is being able to keep up with inflation if you're an instruments that are always yielding two or 3% and so the conventional wisdom is hey you take your rates attractive from a hundred and that's how much equity exposure you should have I don't know that necessarily holds true for everyone today simply because if -- in a portfolio that sixty or 70% bonds I think you might struggle with keeping up with inflation over the next couple decades what about factoring in what you're living expenses are how does one do that yet to make sure the have a budget put together before handed figuring out what you actually need and what your retirement looks like -- a big thing that you need to figure out -- can move to lower cost of living area there's certain expenses that falloff. Those are things they go into the. Whole process folks if you click to receive our October guide its all about generating retirement income from your investment portfolio call toll free 803934001. That's toll free 803934. Zeros or one the October guide will help you understand how to better generate retirement income from your current investment portfolio you can download the guide immediately by visiting Armstrong advisory dot com or call 803934. Zeros or one. Medals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and -- gold locally we just make sense of leader bank a call and learn more call 8776917900. 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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 -- going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the -- need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Pre can download it right now on our web site Armstrong advisory dot com. Juries are for two securities America incorporated members in SIPC and advisory services are to securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities American companies are. Unaffiliated 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 even send out annual interest payments directly to attendants -- called the Z deposit teen to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit. Dot net member FDIC leader bank step ahead. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay info. In the end up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. United States might be the biggest producer of oil but we're still very dependent upon Saudi Arabia we'll talk about it. Microsoft co-founder Paul Allen dies somewhat unexpectedly at age 65 and Carl Icahn issuing a warning as it relates to tariffs and trade wars hi everybody it's Barry and John Moody with you here. To Tuesday morning and you know he. Administration. Has been getting a lot of criticism over its handling of the shot he burger. And the whole issue in Saudi Arabia Turkey. We shifted somewhat walk in. On each yeah because we're still. We need our good friends use in air quotes friends anywhere Kenya and it created for in Saudi Arabia because we the big still sells laudable. In the president was up front with that he lets say look I know. It's a base audio their crummy people kind of Needham and you mentioned American companies. Including Raytheon in the area. That have benefited a lot from other programs that were involved in with with Saudi Arabia. Look in resell them tools to kill people yeah. And you know we every time there's a war and we end up being involved in the war somehow the weapons that we sold them and being used against us in which all others should there problems what should delve into these Middle East. Conflicts. It's an ugly place to be. This is just a reminder that. It's four hours they've come they're still in the dark ages is the civilization. In this is what we're happy to deal with and where the deal and they let women drive. Yeah I mean it that the book is killed there journalist threw it. There's portrait about it Friday your actual journalists yet and I've been to Saudi Arabia to have you yeah so what they witnessed the journalist community. It was being asked outraged but you know I don't think any more outraged frankly the average dollar and yet because it's just those things is just like. This happened in the 21 century didn't like it's the way they deal with the server though to help find journal report that got his head. Sliced off those. Like. Why Bulger could be their like president. I mean he said it is happy. And but again and you know we we have a common enemy and when you look at what's going on with Iran. And their nuclear intentions in the fact that they'd love to wipe us off the planet and they what wood to a nuclear program. With probably delivery capabilities. This is what this is who you know we we deplete the game and you have to be in bed with Iran yet to be in bed with senate injury prone to. Yet we to a study and you know Israel is kind of stuck in between where ball really hated Israel but. Maybe Saudi Arabia hopefully and some little less. You know how much oil we buy. But he and the U here. You know we are the number one producer went about twelve million barrels today. But we're not in anywhere near energy independent. You know this is that this is a tale of two cities here on one hand we hear the number one oil player in the world. On the other hand we import seven point nine million barrels of crude oil a day all of that. 876000. Barrels are from Saudi Arabia which is the number two supplier to the united states of standard right. Exactly and couldn't get too deep with no to me if you can actually nice people actually I don't kill people who have a disagreement with them very. It's up on the place except he is which appears to. We're getting back at them our guys are getting better and better and being that the discussion for an. But anyway the bottom line here is you know we're getting we're weaning off oil then we're becoming less dependent. We create and produce a lot of oil but we still need a ton of what could be due to the price if if if the president. Did say hey we're really take action. Will consent theory of how how much of an impact could handle it occurred. Overall. Eight you know a substantial amount blanket he iffy if they took two million barrels a day off the market books. You try to be looking for fifty per. In in the very near term. You know and they have that capability in the very near term but they could take I mean easy there. They are sure that the big supplier. International but we could to I mean if we want to play a game it's you know. We're the number one player and oil. Let's make oil be 300 dollars a barrel we have just as much ability I think to do that well we did that and I wouldn't be ironic but it and the united start producing more Earl. Correctly remember price and that's at Saudi Arabia does. Exactly is the problem here is not just the production which we've increased the law. My problem is we use a lawn of the product Saudi Arabia doesn't have that many people don't use them much they can make as much as they want the room. Personal consumption we use a ton. And that's that's the risk for us. Well Allen died last night big announcement. Evened out of the party heard the news that he was the co-founder. Of Microsoft. Realized he had left the company. In 1983 yeah he was Connerly he cashed out in and took his fortune elsewhere. Paul Allen certainly one of the great technology giants of our time a software industry pioneer. But he left early he had an incredible amount of stock was worth a fortune because he's one of the co founders. And you'll pull on to his credit just reinvent that is life. He is a big sports fan he bought the Seattle Seahawks. For 65. Million dollars. I've got to believe Tucker that the Seahawks would be worth couple billion there worth one point 33 billion by about 4014 so it's morally a multi billion now would you say I would hope certainly over two billion because Carolina Panthers social 2.2 yeah. So again this guy who yup exports and a when he bought the Portland trailblazers and at age 35. He was the youngest owner in all professional sports and I received Paul Allen right there courtside. The mine's broken woman next of course that whatever and I enjoyed his Portland trailblazers won a and the thing that's kind of interesting is he owns the Seattle Seahawks. And is a huge football in fact he created that twelfth man like you know the twelve that they run around. And and well being is significant he did as a salute to historians. He also kept him from moving to California. There's a lot of pressure them to move to California we're now we've watched in those rooms. In the Los Angeles Chara chargers. But we weren't at the Los Angeles Seahawks years ago it wasn't for Paul Allen who kept them in his home to think he owns about half well. It yeah and you know very sad he's been battling cancer. Was cancer free and very sad just two weeks ago he announced return. And he died of complications from non from non hodgkin's and the rest in peace Paul and Carl Icahn. Says tariffs are a dangerous game and have caused. Stock market crash usually if you study. The Great Depression rate 19291930. Tariffs were contributing factor to the Great Depression at least the extension of the Great Depression. Carl Icahn. Who's by the way very very close to done in arguably you know he has Donald Trump and his pocket. He did he I felt a bit I think that the president should brag about but you're right now he could buy and sell Donald Trump. Yeah and he probably would he media party hat he's selloff as close burst of mean his house second casinos could take it a roll on in the cabinet. He was rumored to be considered for a number positions including a Treasury Secretary he said that job site and if it. Carl Icahn makes a lot of money and I should point out you know for some reason people look at him as a great investor. He is gonna have a great investing record that he really is not in pastor he's a corporate raider from back when you're back in the eighties. And Carl Icahn made his money buying companies and strip him down and all WA yeah that was I mean he took the assets and torn apart. I think Carl Icahn reprises the bad part capitalism and his record has been to report I should point out what comes apple. He went decides to do with corporate raid game without. I guess he met with Tim Tim Cook it's a unity you need to spend all your money to buy back stock and make me rich enough and Tim cook's and I don't plan on doing that like our business is actually important and Carl Icahn and sold the stock Buffett came in and bought the passive investor who's made all the money. You know like he's now taking a big position in hell yeah if you matter if you've been following pattern he's actually right on this one because the dull. Owners who get the tracking stock of the VM and VM is all about. The bill was a boring box company via Amazon great high tech company. The trackers cheap and what's happening here is bill was trying to bio the tracker. On the cheap. So he's actually right on this thing we do time will tell. Coming up we're going to be joined guy. Henrik occur from the economist talked about the next recession went badly when when exactly is the next session. To be determined OK Henry tells I would be nice and we plan in advance all right if you in the next segment you'll learn exact timing of our next recession and saying that. Anxiously facetiously that's next. Business news is constantly break. And we're here to break it down and show what it means to your portfolio gives the financial exchange with Barry Armstrong and chuck soda on the financial exchange radio network. Do you have a trust to protect your assets this notch in the closing in on retirement this messages for you planning for retirement can be complicated so it's 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 do as a partner with the law -- of -- in Dolan and an expert an elder law is new -- of this month we'll help you understand how to design and irrevocable trust into will include the exact language that you need to protect your assets from -- in the nursing -- this -- does yours by calling 8668485699. And -- radio show the legal exchange -- always discusses issues that can affect you in later life if you're retired -- beginning the starter retirement planning -- you have questions about your existing trust or need to know which kind of trust is right for you can call 8668485699. Right now and ask for drugs brand new guide current design and income only irrevocable trust that's 8668485699. Or download the -- right now from our website legal exchange showed dot com. Hi this is very Armstrong amazingly over 20% of Americans have saved nothing for their retirement can you imagine you're 65 and you haven't saved a -- hopefully none of you listening today are in that boat or whatever you save for retirement I'd like to help you devise a strategy that will allow you to enjoy your later years my new guide out this month we'll help you learn strategies to help manage your portfolio and protect -- so that when it's time for you to retire your assets can be there to work for retirees have to worry about a lot of things where your money last can cover your expenses if you don't know the answers to these questions call me right now and 803934001. And request a copy of this brand new guide how to develop a retirement income strategy that's 803934001. Or download it right now on our web site Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices cold easy plumbing. 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Or you can visit them on line at easy plumbing MA dot com for more information mass master license number 10. 183 again the number is 78186211. 90 hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered 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 -- -- call the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank step ahead. We have part of the financial exchange in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Break here on the financial exchange radio network. Toxic politics and constrained in central banks could that make the next recession inevitable. With a possible preview of the next recession an interesting piece in the economist. We welcome Henry Kerr Henry thanks for joining us. Henry it was just months ago that we are cheering synchronized global growth and everything was wonderful. What happened. Well. Like laid out very or in Europe and in that ball but all OIB. About it financial. Open back aren't. Bold and I go to pre I mean you in your long we're in America. You won't bite out. At increase spending in the federal budget. A Christina. It that dollar bank in all open. There was. There. It didn't give an old old flat. Went up and and we'd like to be at about your record to a night at a right across the world. So what she you mentioned your fear of toxic politics and clearly is a lot of toxic politics out there. But if we get gridlock after the mid terms here in the United States. Historically kind of a positive for markets that may be government won't interfere rural lives all that much. Well I think. I I think it Altman. It. Would go up. The economic point I think the real yet. We equipment. Is back pulpit politics what many. Are responding and balance that bit cold because interest rate that. It hit me that at or that it will be at best buy and by like six and no app but it even waited. That the red right. Recently you had all the food and check all be using it. A bit. Adequately technical about who at all why that all should be gathered at that. It we need to double fiscal. That I economy could interest red carpet at all all politicians in the bill or Hillary can beat the debt it. When it already born. It either political we're worried about in addition the act in a white man. You needed outlawing it in action cooperate. I don't buy. It would look like app with an. Eye on my typical day. And as part of your concern too about the ECB I mean are you even worry that the ECB might be a router doing the European Union assuming that. Let's say Italy pulls out and there's a hard breaks that there could be a big mess there interpret. Special that era. Opened. That you're there would you rate. You it caught. It but he app and I are right there are. Heard Rick Rick right. Even not haul them back you're at all of them I added there are even great degree. Off at the Whitney. Despite the recession. And it will happen that it bad political constraints on it go. It in Northern Europe and Japanese. And took our commitment there Barry aren't who year. So it yet. It out what. Airport and it ought to America Europe and struggled with it you that these. Rent it out spectacle on the two. OK so if we look at the constraints central banks we look at the toxic politics around the world what your forecast for when this is gonna hit and meet a recession for all of us. Shall we. Back on the line that I it and yeah that's very difficult to predict. I think you and I were in America. It inevitably our lives. At it in Utah went out. So we're quite. Increment in that. And the question is on the world Angela what went out and are. I'd hear what other people could not you might say well 88 at the ball picked it and America. Action yet in it continue to accelerate the question it. Is the world economy but today at a leg back and not let area. There you'll know little about bank should thank you should expect. I recession. What where that law when it bought bank right. And back an hour or by request is what impact will luck out. Great points and recur from the economist thank you very much of that report. For Shaq. It does racing does raise some of big concerns that you know if failed to come together could mean bad things and the bottom line is economies are cyclical yell even if what he talked about didn't exist at some point have a recession. Question is how deep and how long and generally recessions have we forget this most recessions in the last five years have been fairly mild. These you know week we never went as last time we saw a recession brought on tree. I well of course you got the Great Depression is a abet a good example that it's I don't want to that I do one of the problems you have an economy. That. Very dependent on trade. And we've not addressed that big issues the EU's. You know we've never done in the context of the global economy so ignition point is you don't pick up the textile industry example OK so we're not gonna get cheap textiles from China. Guess what. There's cheaper textiles that were buying right now from Bangladesh and Vietnam who will look at the low cost providers of spot and junk. Lot cheaper place to go to China right. Somebody even as a cheap labor source we don't necessarily. Okay when was the last time we saw a recession brought on doodle of workers. I don't remember ever. I don't recall that I now that has led to. Higher interest rates and bottlenecks that eventually down on the line created problems won't by itself. It's like what would that be something right in the accurately report on the jolts report if you missed this earlier books. We have over seven million jobs open this is data that got released at 10 AM eastern time right. Seven million job opens before we've never had a problem remember in and you have players all over the world screaming for workers what I would worry about as if there was euphoria about markets that led to bubbles that crashed that could bring on recession. We are nowhere close to investor sentiment I just read is actually lol yup. If you talk the average Joseph on the street they're not like piling at the stocks in fact. People amazingly. Are putting money at double the rate into belongs to me or into stocks people you know the bond markets down exactly give people lost money you you buy bonds because you want a safe investment. Damn things have lost two bit this year David worst to begin construction and at it but it's. We are not in a ball bullish environment in now when a full employment economy is that people were cutie into enthusiastic and creating bubbles in stocks that's happened in 99. It up with that ball with the stock market with the dotcom bubble very. Everybody's bragging about how rich they are getting stocks carpet that was just dumb wasn't sure what medium you remember you always. EU had. Companies that were going up and die he's the the losing money but they had forty clicks zero you don't well yeah we have people visit our web sites. The stock was up a twenty and they said Warren Buffett has lost that is he's value and things like earnings you know matters are clicks again I don't think. Lot of people would put a big game memory locally you think about companies he. Gillette Stadium was for a very brief period. I'm GI museum GI. Hey guys like Tucker don't remember of course remember that episode life CN GI feel yours. Well. If that's the life of a very much alive and in a patriots. Archery. Or as it did an awful long time ago. It does but but you know week week. We don't have that euphoria that we had that led to bull behavior back in 99 that's a good thing. Hey speaking of Foxborough. How the NFL television ratings this year were gonna talk about the NFL and how many people are watching those during games this year. Next on the financial. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert -- 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 your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income will -- applicable trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. Minutes 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 very Armstrong and I know that many of you who listened to my show are retired or nearing retirement neat 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 say to date passed the last for the rest of your life sear 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 -- 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. Pre can download it right now on our web site Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. You having problems with 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 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 always. 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. 1190 that 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 781862119. No. Hi 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 years are higher earning years. At a whole equation changes once we retire and we hit age 6570. And we say chased out of a gun I need to take some income from port hole. Yeah it it really does change and specifically war go to more of an 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 can be equities that you simply think gonna grow and pull little principal off there. As well last in the right mix of bonds that can generate some income as well what about municipal bonds that's something people use. It is of particular fewer in a high income bracket it's something that a lot of people use that we tend to target simply because the tax efficiencies you gain there can be significant if you like it. Copy of our October guide call 803934001. This guide will help you. Design and develop retirement income from your investment portfolio 800. 3934. Zeros or one or can download right now by visiting our strong advisory dot com are strong advisory dot com or 800. 3934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you missed any part of today's show not to worry for the financial exchange showed dot com and click to listen. Then click on demand and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange showed dot com. Our trivia contest is brought to you five seasons 52 they've 43 locations nationwide including two in the Boston area and one. In West Palm Beach, Florida. Seasons 52 is on a mission a mission to provide you with a better way to eat. Seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens. Or go to seasons 52 dot com for menu information and reservations booked your holiday party today. And get special gift for all of your guests. So we're about to play trivia and in some music industry news. Lindsay blocking him is suing his former Fleetwood Mac band mates following his termination from the group earlier this year. That's Buick he'd use it. Seventies how old is Linda buck to Lindsey electing him if he's got to be an X sixty eats them. I note Chris degrees or 7 NEWS we're gonna be asking trivia questions about the 6969. Fleetwood Mac is the topic of tribute today. In what year was Fleetwood Mac for now the way you play trivia. Easy text that's the correct answer our text number is 63566. If you have not played before you must put my first name that's Berry BE a RRY. At the beginning of your text message he put Barry and then when everything that correct answers to that question. And we'll take correct answer number fifteen today Lewis and org and swamped with folks from Florida who just nice we welcome all of our listeners from from Florida but in what year. Was Fleetwood Mac formed and are tech's number 63566. Berry is the first name. It fell. Come back they'd blow but today it never really left him in the numbers were down a little bit but there are still it's there down 9% two years in the world but still the I was there and -- if your portfolios nine but it definitely be up and the wind. If that respect after it but that Tucker makes that point TV ratings have been down across the board relatively speaking yet what happened last year did hurt them. But they were still even last year the most watched television Joan for a period. Patriots and sports and in the numbers the most the most viewed events in the United States our national football league football games. In Sunday night you had the matchup of the year. Even outside of Boston had to wing and vs Kansas City that was huge legacy get great round yet Brady vs the future radium in just it everything you look for a matchup. In the ratings were unbelievable and in and they and they blew away in Major League Baseball did it. Fourteen the war on ratings. That's it. But this it's me to baseball's. So intern gets in terror and usable in terms of in terms of Boston. Readings the patriots chiefs game all the 33. And you Red Sox and Astro game. Which started at 7 o'clock all the point which just goes stolen GAAP. So people are probably go back and forth and Alia flip flop and you know but and here's the amazing thing in Boston. You're watching the two best teams we certainly battling for the championship of lead. On the other channel our two teams not in the same division playing in mid season football and and oh by the way Houston as the tenth largest market in the country's fourth largest city kids he's the 31 large Smart people left to watch football it's a mean. I'm believe it's a better it's a better television sport. Andy in India like hockey hockey term all hockey's. Awful television in its ninth day in person and vs television he would you rather watching a football game. Which rather watch in person war in in the comfort. A pop up all my couch. You can see the game a lot better and where his hockey I rarely went I'd rather own person yeah I agree save a base I agree based like game is it is a story. But the probably the issue and it was a fan is a big while the rules have been made to simply build ratings up even for the all due respect between. The fantasy football folks in the network people I feel like the game has been taken away from us and went and it as evidence I put. 43 to forty was to score which is basically an Arena Football League game last night 33 dollar it's totally a football in India irony of all irony is. Kiss and he was about to win the game. They were bought the tackle on brie. But the guy tackling him said if by tackle him get a penalty and fine roughing the passer. And let Tom Brady walked in with a winning game the ultimate irony in the game that has literally been taken away from the defense it was either that or he thought Thomas from the ball. In which case you would have a roughing the passer more so if you didn't have recently rocked the house rules he would we tackle them. Which is like what people that play here just seller ratings themselves happy and you know they got what they want which is 83 points. And fancy people have always been seated. Just look at does the president hasn't been sharpened the millimeters into telling. Nobody used you know in the past you'd you know he chirps about it. Downer but the way he can't count as a green or Otto might might question is giving Bob Kraft called hate shot out early. You know AP did it would matter tournament. It's just a well AA they're. Yeah I mean what wanting not showing via the right record a side note there now are you still have instant view. Or not I don't know titles. Under the so ever read down North Carolina. I've seen them deal that they don't show. Wall there's social media to bury me. Today that it was kneeling ordered an all over Twitter and all of our FaceBook he'd like I thought I saw which zeal but an and so for me. I'd sincere look at it that you literally have to seek it out because the problem is they're not showing it. The epileptic is is done like long before the game starts and so it's not seen on television. That whole idea current dip in the afternoon there's kneeling approached yet and the ratings of stall so. Not a factor old news old news trucks thinks it's because the games. Now they are a 1000% or better you've got more young quarterbacks that get people excited you've got great parity for the first time yup Cleveland Browns are very competitive when her team. So between the young stars who happen to be quarterbacks which is great it would. And the fact is you know outside in the wind when they see the patriots as not completely invincible which gives them a chance for hope so the leak I think toppers more balanced than death. Folks do you have a trust to protect your assets if you don't in your closing in on retirement this message is for you. Planning for retirement can be complicated. So it's 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 out of probate and protect them from the nursing home. Todd what's he is a partner with the law firm Cushing and Dolan and an expert in elder law. His new guide out this month will help you understand how to design and durable global trust. And it will include the exact language that you need to protect your assets from probate and the nursing home. This guide is yours by calling 8668485699. On tawdry new showed the legal exchange he always discusses the issues. They can affect you. In later life. If you're retired or beginning to start your retirement planning and you have questions about your existing trust or you need to know which kind of trust is right for you. And call 8668485699. Right now in mask for college brand new guide how to design. An irrevocable. Income only trust that to 8668485699. You can download the guide right now from their website it's legal exchange show dot com. Don't expect a big democratic. Wave this fall this according to a CNBC pulls. A recent polling is showing that the Republicans have picked up a considerable amount of support. The more importantly. They seem as energized almost as Democrats our Democrats are really energized about this race of the concerns a month ago. Was that a lot of Republicans just weren't that enthusiastic and here's the Cavanaugh hearings regardless if you feel about the merits of what one on. Really energize Republicans I Whitaker and what we're looking at now as a six point democratic lead in generic polling and that's down from about ten to twelve points. And more importantly. Should point out that reflects pretty closely the population there's a lot more Democrats registered than there are Republicans registered in the United States so. Yeah it looks like. It's highly likely the Democrats will win slight controlled the house thanks let's also equally likely that the Republicans could very well game in their damage in the senate. Bottom line is that grip. Lock. Lock gridlock north that a that by John Moody with the it was vice presidential candidate. Years ago but the debate the Republican forget and he was Howard Dean no I went to. Yeah. Yeah. Let's look at the debate and really look at a pretty embarrassed but yes right now I'd I'd sit and it's Wall Street is somewhat comforted by the fact. That it feels like we know how this is gonna turn out then and I think Wall Street can live with the way you're probably right because if. Markets were really concerned. About the senate going Democrat right with you doubtless let's let me paint another scenario for. Would if you're wrong. And the Republicans hold pals. That would be a big surprise but we markets would rally would. Yeah and that he would not be shocking but it would be surprising right because the Democrats do need to gain quite a number seats to get that most the projections have them. Comfortably going over by about ten seats. But they'll have a slight advantage you know Linda have a whole lot of hearings a lot of positioning lot of posturing and one of the doing the bills. If the debt if if the Republicans hold the senate though actually increased their their total there yeah. You know I can see hardly any democratic initiatives have any chance of passage. Rate. You'll you'll you'll end up having honestly a re people we have the last two years of Obama then which is the Republicans have enough influence to basically keep him mean it would do him. And lost Republican what's the reality got a tax cuts and that's what Wall Street want it does access the they coming up we're talking up companies. Flushing their pension plan why would they do that well we'll explain to you when we return to the financial extra. Financial exchange. His goal hurdle in England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. Hi this is very Armstrong amazingly over 20% of Americans have saved nothing for their retirement can you imagine -- 65 and you haven't saved a -- hopefully none of you listening today are in that -- but whatever you save for retirement I'd like to help you devise a strategy that will allow you to enjoy your later years my new guide out this month we'll help you learn strategies to help manage your portfolio and protect -- so that when it's time for you to retire your assets can be there to work for retirees have to worry about a lot of things where your money last can cover your expenses if you don't know the answers to these questions call me right now and 803934001. And request a copy of this brand new guide how to develop a retirement income strategy that's 803934001. Or download it right now on our web site Armstrong advisory dot com. Juries are for two 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 American 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 enter their information and manage all their security deposits C deposit also automates many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to Tenet's disk called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit. Dot net member FDIC leader bank step ahead. Are you having problems the block sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently 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 cold easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy 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 allow you to 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 -- the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way AC need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our website Armstrong advisory dot com. Terry suffered a 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 through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated the markets are still lol lol yeah. Get our weekly monthly recap by becoming a member of berries for gates' visit financial exchange showed Judd come and sign up today. We ask that trivia question which was Fleetwood Mac. When was formed the answer is 1967. In London England. And John from Lake Worth Florida congratulations you've got to correct. Are true Democrat contest has brought to you by seasons 52 with 43 locations nationwide including two in the Boston area. And one in West Palm Beach, Florida seasons 52 was on a mission a mission to provide you with a better when. Visit seasons 52 today in Burlington just not heal or Palm Beach Gardens. Or go to seasons 52 dot com for manual information and reservations booked your holiday party today against special gift for all of your guests. US corporate pensions are at the highest funded level since the financial crisis which could lead to more companies to turn over to insurers. The responsibility for paying retirees this according to pension consultants and you know. Back in the day. It was pretty common for. You know corporations to offer pension plans to their employees or this. They're they're gonna go the way of the total bird now yet now that Bo what's on the books is a liability. And that's a big vibe and investors like you say hey. If you want me to buy your stock. Red and pension you need to put that to better find a way to deal with it there's a good news and hear that is that rates up. And investments are up so that obligation. Looks more attractive and less burdensome. In a weird way that actually increases the chance that they'll get out of it and the what we re nice to that is. They have the ability to off load this liability. To insurance companies who assume that liability at a cost. The nice thing for people who corporations. Is it's now an attractive time to do that so there in a position to be able to unload these full responsibilities. Off to insurance companies. Actually finding them moderately attractive and report at a at a price is right now it's a if the deal days of getting a check from companies to work for you you you worked for I don't know forty years for fleet bank. Or forty years you you you spend any company. In east saint detention Jack. That anymore maybe that's right and a plan sponsor that's only 80% funded is gonna have to put in more money than one that's better funded as they looked kind of take care of these obligations and again this is kind of a rearview mirror thing because it's largely not done anymore. But it's money that have to be paid out in the future that's the issue here. Tucker pulled the story for us extreme weather could trigger a global beer shortage that causes prices to skyrocket worldwide marry my god he's concerned about this. We have to cover this store I thought the reason wrong in this I thought it's like hoping like this too short there's a storm coming. I'm not drinking Coors Light now and and and I thought that's and I Drew Brees and more of it. Now what what's what's the deal here is it because the cost the Bartley. But hey my leisure. You can grow your Barley and as a result he can't make you beer and that's the problem talkers. Make artificial. What Nia do you make cute he's pretty and a better fit for me for the if they don't like doing this. No effect I just try to be problems with the army and there's also this the start of the not even take into account the people like me who Buick OK there's a storm coming. It's gonna cause lots of damage. I'm not gonna sit around here and drink cheap beer. I'm gonna go like top shelf right and joy because that might not be tomorrow and juggle look at right now news. You know what if we live a little higher on the hog heaven yet just means your kids inherently. Fiscal regarding pay like. Utterly human primary. Feel like I've paid clinic for you and I also agree that you know so officially at age forty I could only monetize. Wars like the rest of my life yeah I feel like now with the end in sight then I can monetize actually works but would be greatly have mine. Yeah it was with your embassy and Sam Adams were booked like wiretap petroleum. Little Caroline and I scrap dealers and Malia that Ochoa I love craft beer twos and you do a battle for the like I can now afford it because a few more years to up the phone the millennial soldier craft beer and yeah it's like eight can't hack it. Is an. What do you by Tucker I like petroleum violate tree house night shift and efforts really good idle hands and mauled them new names like all. And how how much more than a cut it depends they're tall boys mind you but yet you're looking up early like fifteen bucks for. Pack for Zach and a pair effort case. Not long ago and told marine situation that's good yeah okay. They flowers predicament. I haven't been pretty good when Porsche is ramping up to build its all electric Tesla rival. You know Porsche gets into electric car business that's trouble for tests. Well again and in positioning it's supposed to start around 75000 dollars is no less than the models yet and for Porsche. I would violent I mean the gas it was generally cost considerably more men. So yeah depends McKee you can get a portion percent yet but the is not a random number you get if you get one EC. Tesla has the the model lesson I think is still the best looking car. It doesn't look and you know if Porsche came out with one that was less expensive than the model last little more than the model three but it's a portion. School of 300 miles on a charge. People gonna. You know on it picture of this though he and you know love and I am loving it because I feel like it looks kind of generic to sedan it's a sedan and it's kind of sporting let's apportion. It. But I ferries I do I hit it a portion is fantastic I just I wanna yes. Portion that was the only old school but I just I'm right there with you don't pay is discipline that is it practical ya I was at these faster than any gas. Well stone temple foresees that's why electric cars are allowed to race. You prevent book as we can't if they can't engage if it's you know that it can depress a botany go fast like it would a with a gas Parker kept after learning now pay the markets have and a heck of a rally. It Dallack 354. Points yes and tees up 39. Eat what is we hate it's down fourteen cents a barrel at 7164. Gold. At 1231 and counts. In the lithium in it now as the ten year treasury right at 360s kind of settled down through not bad not bad race. Thanks everybody for tuning in to see you tomorrow.