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Full Show 10-31-18

Oct 31, 2018|

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And. This is the financial exchange with the very Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. On a day where the Dow is up 287. Points and NASDAQ is up 163. Points. We begin our show. With the stories of two companies going in seemingly opposite directions these are large industrial American companies. There are going well one seems to be going down the tubes and you know it seems to be doing quite well hi everybody it's variant truck with you here it's a Wednesday morning in. Unfortunately even though the Dow's up pack ice on a 300 point just a couple seconds ago. We have to talk about GE they are just really. And yesterday their stock hit wood and nine year low. Yeah I mean that they're stock is now down nine at ten dollars and 22 cents a share it hit a 52 week low of 987 go below ten dollars a share as you mentioned that was just and that was for the first time pretty much since the financial crisis the last time GE stock was valued in this range. Now it was February of 2009. As the world was falling apart. So to have to put in perspective. The world isn't falling apart puts near investors are pricing GE like it is falling apart right now. But one could argue that it is not a good thing that really disturbs me they have an SEC inquiry. Which generally you can write check and be done. Those write it they decade been the SEC may say what you did this wrong buried in file this form properly buried in this guide in on this -- element that's gonna cost you twenty million like you with Elon Musk right the date finds him in more than that on accounting you know it's that they're pro it's it's going to be more than twenty million and I would guess in the nine figuring 20200 million okay. So the neat they suffer through that yet but what's. Really gotta be concerning to especially at a guy like Jeff and alt. Criminal counting pearl was the last time you heard of a major. Industrial company that was in the doubt as recently as last year. Having a criminal accounting probe. If somebody's going to jail immediately if there's any substance to the accusation. He hears of the interest to win the last time that we had a really big accounting scandal. To be here and am I mean like a big one I'm not toll went in back in 2008 there when after Lehman Brothers and those those were accountants think that that was you know that those were account examples you know if if you late. I think you gotta go back like WorldCom and Tyco to get back to like when you had your last in that was you imagine if you've GE is in the next Enron. Well I don't think the next and rock is actually have real businesses and run did you know at Enron was literally making things up now on a daily basis I don't think GE is may well up the fact I don't know if I mean they remember they took that twenty billion dollar charge of their long term care insurance business. Yep but I think they've made up the rates way failed at all no I think it means they screwed up the rates nominee like so. I look at this potato potato ads and just you know now what if they are okay. Only a it's in serious crow on this because if it turns out that they're just watching everything. That's a whole different problem here. But I think it's unlikely that's the case but. I mean you do look at what I think it's unlikely that the fudging everything just is like it's like you see their jet engines on planes you see either wind turbine like. We know we need real prime know they're using something at least you know where is Enron literally was trading stuff that didn't exist. So. I'm one of like a cut I just can't remember the last Imus off criminal probe by the DOJ. I don't know and that's why wouldn't tell you stock probably going to that you probably going back to Tyco and WorldCom and those are probably the last that's that's one has caused you puzzles he went to jail in that was back in 02 I think there is somewhere that in there were a whole bunch backe in that 0203 arranged by the way that you know kind of spilled out of all kinds of different music well like it it was an open season back in just because the rules would. There really weren't many rules now are. As a consequence of Tyco. This CFOs are now criminally liable and I you know the fact how would you like to be the ex CEO. Of GE you're sitting here in Boston you're yours chairman of the board and Dina hell in your hearing about these criminal probes aren't good. I'd like to be the board member for at dean health that a pointed. Jeff involved as the speed as the chairman Nancy you know I'll tell you what the to further that we get out from Jeff and melts. Ten years CEO. The worse it looks today the you can say that but I'm not sure Jack Welch was safety. I got I think he once you go back and you look at a lot. Of the acquisitions in the maneuvers by Jack Welch Jack Welch's. You know the eight the beating of him as a god if you talk to a GE retiree but he he has his Jack Welch's fingerprints Arnold walked. Screw ups beat the whole long term care insurance stuff. That was Jack Welch yes it does twenty million dollar. Way I look at it at least is unit Jack Welch may have caused a lot of those problems you know and in the long term. But you know didn't really do anything to resume like he knew about them and then said. Gee I guess I'll just keep potter along just to keep things moving is yeah I was actually needed a clean anything up deal with the problems are you write the mess for the next person and you know my view is look regardless of what it is. Clean up your own mess or PC one even if you're not responsible originally you now are responsible once you come into that position. They're making a big deal over this new guy Larry Culp. I mean talk about being dealt a bad hand I you know the more I look at G I asked myself why the heck would you take this job. He passed I mean he is there they're great white hope he is he's the deep. He's really I don't wanna see their last chance particularly like I think your your spot on I think he's there last chance. I just I can't cede GE going out of business because they have again even though some of the price they are growing as rapidly like. There's only three companies the world that make major jet engines but they could sell that off. It will bit you think that the business isn't going away right tiger you know Zito they have some things that they're still good at but. I'll tell you what we here's the bigger question who's gonna sponsor the Celtics if they go wonders for what you think you'll descending ten year deal. You know it you heard about the celtics' ability to make payroll they got a lot of players coming up with contracts the next couple years carrier is going to be do one and in this in this summer I IE I just marvel at this. You know this is a an American icon. That is just disappearing before our eyes. Another company though that I have tremendous respect for the CEO of gotten to know her not I've never met her personally. But Mary Barra is the CEO of General Motors I think she's done a wonderful job turning the company around. Knocked down the park on this quarter this is accompanied GM's the company that I own actually. And you know they've seen some struggles in the last six months just as the auto sector. Had been bid down because there'd been a slow down why did you buy it. Why yeah why did you buy general they just the way that they cleaned up their overall business as far as. They they got their cost structure much more in line in terms of the big thing you look at the auto makers is look how few vehicles can they sell and still be profitable because that's one of the big concerns is in the slowdown people stop buying cars and they made dramatic reductions in their cost structures of their still profitable much lower sales numbers soon adds an element of stability that usually wasn't there with a lot of auto makers. The big thing that I like going forward is they've got some growth engine as well spending a ton on Electric's been spending time on autonomous vehicles. And I think that they are on the cutting edge both of those areas. Where a lot of other companies are making investments Ford the company its economy and making a ton of news for the wrong reasons recently where. They're not spending money in those years ago at the F 151. Else GM is is diversifying into where. It was kind of the old Wayne Gretzky quote you skew the pucks going now where it's been in their skating where the pucks going. Think you know I own a GM product I also on the stock I bought it because of the dividend made dividend on new really new but it was a dividend 5% yeah high fours or five somewhere in that ballpark when I say I don't in my life owns she's got all the money. But it's GM they leave their stock up today. Two dollars and fourteen cents on the basis of the very sound. Earnings report when in the big thing is GM is finding that it's still it's still has an ability. To even as its input costs are coming up from the cost of tariffs and things like battery or renting their supply chain raising prices are able to raise their prices Witten. And that's the kind of company that you want to own in an inflationary environment is make a good prop if I only GM product and I'll say it's the best car I've ever how much better do you think they are than because you know that the running joke in the ninety's and early 2000 was nearly their cars were not wavered at all I agreed they would made you know kind of big big progression since then we don't want is a family we own Honda CRV which is an okay car. We go to the owner at Toyota Tacoma it's pretty good track and in Ford Escape and of those four vehicles our favorite is the should be able. We'll come out to get these days 156 miles per ounce cup that putts that's my effort the they're dead. Big surprise though it's the the earnings were dollar 87 vs an estimate of a dollar 25. And as a result their stock is up six point 3% course that we get from us some texting from 603 bury my husband is retired from GE. Will this have any effect on us as far as no pensions or anything along those lines I don't know. The only I've got a lot of clients who were GE retirees. And for years I told them you know the worry about it you know duties of the company. Their pension is not fully funded. What was there. The stock price eat the bigger issue for a lot of GE retirees truck I don't think they'll default on their pension if they did. You know you're gonna be saved by her wrists which is gonna make up the first 333500. Dollars a month the pension payment. But the they've been bigger issue for retirees is most of them are loaded up on G east stock. And that's the real challenge imagine you know yeah you bought GE stock mean GE stock. Was back in the nineties. Trading I think in the sixty. Yet I think even is likely it is like 200304. Was in that 5060 rain. GE does have a look slay a 31. This is according to an article from CNN business from earlier this year and they have a 31. Billion dollar. Pension shortfall in appears. I don't know what the overall funding level that's right is selling off assets to fund that auction the end so well that's why they eliminated the dividend. You know in terms of how this is amazing actually. They were sitting on a pension surplus of fourteen point six billion dollars in 2001 and turn it into a thirty billion dollar. Deficit in a span of seventeen years. Nightly retirees are justifiably concerned. If you're if you're retiree with a modest pension from GE you know when I say modest and talking 40000 dollars a year or laughs you're probably okay. If your retiree from GE and you've got a seven year 80000 dollar pension it's conceivable he could take a haircut on that pension and much. Your pension Michael from 6000 dollars a month to 4500. Wide let's say that. The eat get federal government guarantees. Through you Ressa. A certain dollar amount per month and a penchant beyond that though you're on Euro via so. That's that's as much as I know as a relates to GE pensions. Daylight saving time is a curse against humanity and we should end it for ever. I always get confused by this as to what we wanted to look it up okay. Are we in daylight saving time now yes switching to standard time neck on this. We can yes so we're currently in daylight saving time we are moving it to standard time. At 2 AM on Sunday November force. My view is that standard time is what's bad. Yeah daylight savings time is what I like not savings savings. Data potato saving we would s.'s silent if your mother's listening she's been won yet this for a maybe yes invisible daylight saving time. Is what I would like to keep Ono he would actually came here for it was daylight savings time says right here my articles dealers and nobody in the United States says it's it's an idiosyncratic. Artery here you have to weigh in on this iris had daylight savings now. Savings I ever say about some being out voted by two colonials. Anyway we don't votes are really win mr. Would you be in favor of eliminating. Daylight saving time I'm gonna say it properly. I I would vote no I want the I want to keep daylight saving time and go off of standard time. Took me change the poll question. I clarity about using QE change to should we stopped rolling the clocks back in the fall should we start the Malarkey of it being dark way too early and just to clear the word Malarkey please you know. That's what's gonna happen on Monday are you gonna go home it's going to be done so president done. But other than that it the other alternative guys is that it's going to be dark until 8 o'clock in the morning. I'm I'm me your are I'm inside our real care during a time. Alien vote on our poll by visiting our website it is financial exchange show dot com. When we come back Rick talked about the ADP jobs report came out and about 8:30 this morning some surprising data to share with you in the next segment. Breaking financial news is 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 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 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. 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 leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or he can visit them online at easy plumbing MA dot com for more information. Mass master license number 10. 183 again the number is 781. 862119. No. Hi everybody it's Barry Armstrong and Jake to Lee and were talking about a program called Z rent. Now this is specifically. Designed for those of you who wore landlords and you used to collect your checks with paper checks are gosh maybe still do. Will Z 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 buried so we we develops the rain to out of me the whole race because right now. You know with the landlord when you're getting to rain checks in the mail it's low it's unpredictable. You're missing envelope line in the post are you waiting he might not get all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation in your renting a boxed up to what he does is it really digitize they'll. It makes the rent electronic payments and allows for me cheering for multiple roommates and apartments that's great if you're renting at the college student absolutely. 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 ornaments 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 at one of the participating banks he Renny is always read. Those participating banks are leader being instilled in past yup it but any bank could sign operate they keep you at a bank in Vermont after Connecticut. They could sign up and become part is the rent yup you your if you have a community bank that wants to be a member happened Collison will have and sign up and the service let me free free. All right if you wanna learn more about easy rent. Go to as he rent dot net and give my call if you wanted to 8776917900. If your bank doesn't operate that can sign up for zero go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word. Mary's to 635660. And send your first and last name and get involved today you're listening to the financial exchange radio network. How water tank that was installed in the past 12 years to help prolong the life your hot water tank. You should flushed every twelve to 24 months and then replaced android rod every three to five years according to the manufacturer's instructions. Easy plumbing can help you maintain your hot water heater. Call today before he ran into a much bigger problem easy makes it easy in that number is 781. 8621190. Mass master license number 101. The text messages trap or receiving on the daylight saving time issue. Are agreeing with you they'd like to stay where we are right now not. So it's it's nice and everything you know it's I can get home at you know 530 years six and hey at least there's some twilight right now. What about the kids at the bus stops in the dark. So what's the dim flashlight glow so on that I wanna dig and that is at 8 o'clock to edit it's going to be dark till 815 and unless I'm Tony for everyone always brings up what's the I want to know what the big concern is. With regards to kids waiting for the boss in the dark is it. That something's going they're gonna get hit by car someone's gonna keep it like what's the big concern early hit by a car again. So we're concerned about kids getting hit by car while waiting for the school Tuesday the buses are out like 637. You know advocates stamp for the back. And yeah. But it says it. We talk about it every dollar we talk about it every year nothing ever changes and it's always you know we stay on. He'd move it back for I think I might just stay on daylight savings time this year yeah. That's all that might affect the show a little bit of all all you guys can go over to whatever the heck the winter things called on staying on daylight saving time I'm not moving. A robust job market sees another 227000. Hires in October. This according to an ADP report that I got this morning at 8:30 eastern time. Chuck I keep reading more and more. About worker shortages. And it's getting to the point now where you're having economists studied this topic. And eager to see reports released in the coming weeks that say we're gonna go into a recession. Not because of an economic slowdown but because of a worker shortage. I have a great story that that I picked up yesterday so I was talking to a member of the local pipe British unions should know. And he's actually one of the guys that blocked out national doesn't he he's semi retired right now is he does some contractor work down in New Jersey actually goes out one week a month and you know gets paid for doing some stuff down that way part of a lot of money and so like I said hey how much trouble you guys having you know hiring and bringing people owner and argues we we can't find anyone and I'm like what what's the training program like let's say I wanted to be a good night and went to certain let's let's let's I wanna come in and I have no skills will you train me because you have we have a three year apprentice program to get through get your license would you start. So last arrested look like what what what's the starting you know if he goes you're getting to 80%. Of AB you know eye of a fully licensed pipe fitter. That's what you're going to get as far as your wages you don't get I don't think the three years you start seeing three years you're you're grown used you don't get that the pension while you're an apprentice or anything like that because what you're gonna get 80% of what we make an hour ago so what where's that start. He goes well I'm making DO 56 bucks an hour so back into it it's like 45 dollars an hour and they can't get any its ninety grand a year in the can't get people into these jobs he used to be chock where those jobs all went to family members and people yeah that's what he was saying he's like it used to be if you want to try to get in you need is sponsored. Good luck because everyone wanted to music. We can't be teased loosened up because we can't find anyone now. These jobs are paying ninety grand a year and they kind of requirements are others in high school education GD that type stuff drug testing that you can have that's but let's see that's thing that a yeah. The when he talked to employers like UPS they drug tests haven't had come a time but I look at them like all these people that are sitting there in you know and Amazon warehouse or Starbucks or something like that making even a fifteen to eighteen bucks an hour. Then there's jobs at their paying 45 name gets physical labor yet it's going to be tough yet like it's it's a lot of work. But man it's paying you twice what you're making in an Amazon warehouse. And what is he attribute the lack of workers to be says that. Does that leave the is that typically a job that's held by an immigrant. Don't know don't know in the old days ago that's what he did agree if you're coming in from the old country if you're coming from Europe. You'd come in in you'd take manual labor jobs certainly by the way my cousin in Michigan's going to be a welder. Now she's sixteen years old and she's decided she wants to be a welder so good for her part make more money in your. Probably definitely the Dow is up 357. Point to give you full market update when we return to the financial exchange. Life goes on FaceBook and followers on Twitter. Show breaking business news is always first break you on the financial exchange radio network. Are you having problems the blocked sink or drain. What a leaky Foster a shower these types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cult easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy 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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Many of you listening today -- 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 -- 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 -- into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new -- told designing the income Malia read a -- trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 866848569. -- that's 8668485699. Don't delay did your -- today at 8668485699. Or downloaded right now from our website legal exchange -- dot com. Hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about 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 Tenet's -- called the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank step ahead. 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You get 1% cash back with debit purchases and an extra 10% back. When you use your card at featured businesses to qualify for these and other rewards. Cult leader bank 8776917900. Member FDIC. Good rally going on on Wall Street this morning music. All that ADP report Thursday we've had a number of good earnings reports I think you had a couple good earnings reports in the last couple days in particular I think that FaceBook one yesterday. Seems to have boosted the tech sector victors tech was just leaving the weighed down NC you're seeing a nice little rally there today even Amazon. You know so that there's nice rally that's happening in tact I don't know if it's enough to be sustainable here. But he is you know promising to see some good numbers coming out of that side of the board just as you know we really hadn't gotten any support from tech over the last few weeks. You know the ADP numbers can help belittle the one thing that still concerns me on this and that ADP number we had a sell off in not treasuries as a results of tenure back three point 15. So we're starting to get up to the point where things were getting a little bit. On key. As far as you know where rates started affecting the markets in essence. Rates as watching the ten year treasury to truck in news you get that read up to 32323. What stock sell off that what's been really interesting over the last months he had to sell off where you know with Wear down and you know not closing days of days but we are down intraday. You know 1112%. Off market highs. And you can see really much money flowing into treasuries in normally a move like that he needs to you know 25 basis point thirty basis point move into treasuries. We didn't see that it was just going to cash and again that I've been. On this thing about the bond market all year. There is something that's going on there I don't know exactly what it is but it is signaling. That there's not a ton of confidence in bonds going forward here it's it's something that bears watching. Aetna reports a one billion dollar profit as a sale to CBS health in years closing. They say it nears. Closing we're still waiting on final confirmation apparently stayed in New York continues to law. You know wants a further clarification maybe some further concessions from CVS on this DiLeo it. I don't know I mean you know how New York State is with anything insurance related. You know I it's just it's it's the toughest insurance market in the country and I would imagine as something to do with that. Edna reassuring investors saying hey we do think that this deals going to get done it's done you know preliminary approval from the DOJ already. So it seems like this is gonna be moving forward. But yet this spiel we've we thought you know at the might have already had its last quarterly report as a standalone entity. May we got one more here might see another one PO this winter depending on how long it takes this deal to close. CBS's piloting a program in Boston that includes free delivery on most prescriptions and online purchases. Access to a pharmacist to help line 820% discount on all CDS branded products. Any monthly ten dollar coupon it's called care pass in a membership costs either 48 dollars annually. Or five dollars monthly less than half the price of eight prime. Membership so this is what I think of as a pretty Smart program in terms of being able to compete with Amazon. I do think it's going to impact margins and I wonder if the stock gets punished as a result of that I think it's. This is the kind of program we're CVS is saying look we want to maintain market share but we're not going to earn as much on that market share that's kind of what this signals to me. Yet the thing I like about it is they have little mini warehouses all over the country thousands yup. And you know you could order I could see. Where you can order something from CDS. If they implement this properly. And haven't delivered in an hour too because they you know if you most of us like how far are you Tucker from CVS store. Mile and a half. Quite a while now be to about two miles. And so it you know. Well by the time yet hole from the doctor's office it might it be your house as opposed haven't holed it would be nice into the facility I will tell you criticism you know they've got the the the nursing in CBS or would he call that the urgent care urgent care gap than ever there. I've never really tried to get a flu shot into a zone three times to get a flu shot they settled these are ours will be open you know what he does go to one standalone urgent care places. Just. You know go to Walgreens. It's on my way home from the gym. And so I just said yeah I'll toss a zipped by. Three days in a row there's nobody there to give me much with what time we don't afternoon at a time or night so you expect someone to be there you know. What else I don't think I'm being at a reasonable to you ask an imminent. Yeah the it's it says right in the boardroom we you know it it's our hours are till 5 o'clock or whatever they were I went during hours right. There's nobody talked to nobody bested the of this little kiosk outside notre. Door and he says were closed nobody who would attract a manager. At any just I thought I'd share my misery of the. Did you know that over 20% of Americans received nothing for retirement can you imagine that that you 65 years old. We have received in nickel. Hopefully none of you listening to they're in that boat but what ever you save for retirement. A quick to help you devise a strategy that it will allow you to enjoy your later years. Our guide out this month and by the way this is the last day of the months of this is the last time that you can get this guide. But this guy will help you learn strategies to help manager portfolio and protected so that when it's time Peter retire your assets can be there to work for you. Retirees have to worry about a lot of different things where your money last and cover your expenses. And if you don't know the answer these questions you need to call right now and again this is the last chance to get this so make sure you call right now 800. 3934001. And request a copy. Of the guide titled how to develop a retirement income strategy once again the last day of October the last day that we're giving this away. The number to get it is 80393. 4001. Once again. 803934001. Or download it at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. FaceBook recorded. Lower third quarter revenue than expected and warned that it is in the early stages. Of the transformation in its core business that will lead to slower growth and higher costs. In the short term. Whatever their report was. Investors are taking positively because the stock is up the dollars this. Yeah investors are that this is one where I think that the it's been a strange earning season and it companies that have met or beaten expectations have been punished. Companies that mr. gotten absolutely slammed and this is kinda the exception for some reason where. Look FaceBook didn't. Really beat expectations. But I think people were concerned that just could have been way worse with them than in it and I think. It's hate give this takes maybe some of that worst case scenario thinking off the table and so you see you re pricing of the stock based on. I still think that the core FaceBook product has some questions there but that the growth on Inkster ran mr. so robust that to be honest I don't know how much the core product matters these days. You know because of the growth yet if you why what what makes instead Graham. More preferable. Then FaceBook as I do see a lot of people eat pizza tends to be younger people that are on in its degree. In night in my I have no idea because I use the answer Graham vs FaceBook yes wolf mostly it's grams more pleasant to look at it more. Pleasurable experience wise looking at pictures and our peoples commentary and FaceBook it gets weak too political and makes me yeah you know one is outpatient August 7 so what's which way I can't stand the commentary of aids and you want to. As a sank to a there's a way you can eliminate. You know the way to avoid the political crystal reed don't ever but the fact that there. When I got there's no escaping it no there's guys that I've I've on followed half the people and friends on FaceBook. If you post something but cynical just on that that person put it's approachable. What I have to go through the effort of navigating to on fall with somebody where as on mr. Graham. I just scroll and there's you know just a lot of these pictures or baby's pictures of you know fun stuff that's a statement and please you know honest. I am but I don't use it I go to FaceBook pretty. It's the senate better experience overall. I generally hears like that same thing like it's it's just much more pleasant because you don't have you know people screaming at each other quite the same one. Coming up going to be talking about the housing market millennial buyers are driving an uptick in homeownership this is good news for those of you who old Holmes. We'll talk about it when we return to the financial exchange. 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 when you can tell us what you think right now by texting us at 63566. You skewered Barry and join our exclusive club this is the financial exchange radio network. It's pretty hard to find a bank that -- it checking and savings account that can provided decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks Zuma rewards account has a two point 05%. 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You have a trust to protect your assets if not you're closing in 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 firm of -- in Dolan and an expert an elder law is new -- of this month we'll help you understand how to design -- irrevocable trust -- will include the exact language that you need to protect your assets from -- in the nursing home this guy does yours by calling 8668485699. And -- radio show the legal exchange the always discusses issues they can affect you in later life if you're retired -- beginning the starter retirement planning and 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 radical trust that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. 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 October called Medicaid income trusts. Todd I have to confess the average person. Is not going to know win the trust documents they have are right or wrong he 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 much as we try to educate and it's just too hard languages too technical. And and people aren't gonna know one player and others so when you're looking to hire a lawyer to do this. I think one you should find out if they spend a 100% of their time. Doing they play the taxes estates trusts you know that's. If they're busy running their personal injury court we can't keep it hard enough for me to keep and I total. Also make sure on their car when you get their card to use the letters LLM after their name. That usually means that they have a masters in legal letters and taxation mean certainly need that need to understand taxes when you're drafting trust you do or you that from personal experience. And lastly I would say when you leave the meeting you know what you want to have a flat feet. Regular note it's gonna cause you don't wanna be billed you know by the hour for the work and when you leave had a great understanding of what was done you're not asking more questions. Then when you came. Good advice from Todd let's keep you'd like to copy of their October guide regarding Medicaid income trust you can call them told free. 866. 8485699. Or you get to guide right now. I go to legal exchange showed dot com. Download the guide from their 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 carries brigade blog on the financial exchange should dot com and sign up today. And a light meals and finally are giving a boost to the housing market to US homeownership rate. Edged higher in the third quarter chuck here's the number the aim share of the mirror. And households that own a home inched up to 64 point 4% third quarter from 64 point three. Good number for that is 65. Gets much above 651 can argue. You've got people owning homes that are not capable of actually managing that home and paying their bills on time. It's much lower than that then hear your getaway from the median number. Yeah you look at where we've been kind of historically and healthy markets and it's been right in that 64 to 65 range that's where you kind of the sweet spot tends to be. We dip down as low as 62 point nine. Just recently as two years ago actually count two of 26 teams when we saw that number. Boy what have we seen in price appreciation since you've seen quite a bit here 1012% and so you know you're seeing a continued growth in the the homeownership rate what's interesting on this though. Is that when you you take a look at the numbers it is a deceleration. In that increase that OK we saw pretty quick bounce. Coming off of that when he sixteen figure so we went for 62 point nine in the second quarter sixteen and if you go to the second quarter of eighteen. It went up to 64 point three sets one point 4%. In a span of two years of case you go on up you know somewhere in the ballpark of about a quarter percent every you know quarter. This is a deceleration down to be no point 1% and don't know it signifies anything good. Let's let's discuss that because the you do the numbers that I think are most important are the number of households. That are headed into it we're 35 year old or younger owns a home. Yep they do that that's because those are your key first time homebuyers. That rose to 36 point 8% in the third quarter from 36 point five in the second quarter. That means more when meals are really actively buying homes dozen is that the that that's trying to approach it nation of the data because that's pretty good move. Yet if I mean look that's it's a significant move there I think the big question is continuing to be in and not to be not trying to be dispiriting but what the heck to boomers do because boomers are moving out of homes but in some cases their rent to or in some cases buying the houses. That millennial are looking for. And so I think you know mullah meals. I think it's kind of a red Herring and that the real important factor is what boomers duke is that's what's gonna drive availability for millennial highlighted boomers are moving. Boy you don't really have anywhere to go. Well the dip the problem for boomers is. We don't want to move in to. These condos and they don't wanna move into these assisted living facilities and you know the the average age that somebody moves out of their home or out of their Condo in into some kind of senior housing is down 82. Is that right 82 years old his way nay the that that's the magical age you see some people did do it because of a variety of issues. In the wave those projects typically work chuck is you're gonna write a pretty large entry fee. To get into one right that entry Fiat can be if you're in the northeast that entry fee can be 800000. It depending on where you are saw a family member recently go through this process they write a check. For 400000 dollars up front nonrefundable. Nonrefundable 400000 dollars is basically advance rent yup right yeah you pay 400000 dollars up front. Plus you pay 6300. Dollars a month there after to remain in that property. Is. And so here's the big thing that I I get too because obviously that's talking about people you know in their seventies and eighties that are moving into the says neither can afford with his nominee that can afford I'm more concerned people in their sixty lake. Look at someone like you not you sixties but it now ball lately could fifties you know lately Italy lately lately. Fifties you know. People your age are trying to sell their homes in downsize. But they find any game we've talked about the slot they can't find properties they want at the price they want to sit there saying. GM sell my home my four bedroom house for 400000. I'm trying to buy it too bad but it's 380000. Why am I gonna pay 380 for something that's half the size of what I had him I guess on to stay here. There is a lot of that in our neighborhood and hear you pricey with your clients where they do say. You know I raised my family in this house than it gets too big but I like it here. You know I got the pool in the backyard and gagged a four bedrooms and only use one but that's okay. In in the problem is that if you don't have people moving out of those four bedroom houses so that families can move opening to them then you don't see there's two beds opening up so that's why the whole thing had gone out on the problem is the problem as you guys are cheap annual Paris. Well that's you personally I think personal site I offered by house for sale in you do in millennial suit look at it and say well we don't pay that much for your house no we want a free house you know it and you not get it and cable now at the the that with which curious though is. Boomers have been very reticent to move in and these senior living developers. Housing developers are looking at occupancy rates that are EB seven point 5% what's healthy 9092. You won it is if you're the developer you want it you know 99 but I know lake for users so even in something like Dak is it my sense is always been look at your 100% occupied and out pricing your properties right when your development you know wicket because like do you wanna have you know sorry sound. So I know with you know with rentals you normally looking okay nine 95 that's kinda where you wanna be. I don't really have a sense of what it should be if you're developing to sell obviously don't want it to many units that are being antique is otherwise a neighborhood you know looks empty room on B you're not making any money but it's. You know you never wanna have a 100% occupancy because it means that you. Depressed properties wrong now it the what I worry about with these senior communities. Is you know how many people can afford to pay a 678000. Dollars a month. To live in the it is that how much they are we now. That's for assisted living I'm not talking about a nursing nursing homes or 14 grand ma am I'm talking about a married couple. In their seventies in their eighties your moment that right someday fifteen years from now you hear that you might have a conversation where they might have a conversation with yep. They should anticipate. Tucker you should tell your mom. It's going to be you know for single woman to be an assisted living before 5000 bucks amounts round birthdays and by the way in hell we are happy ever after birth imam. Yeah that that's a challenge. In addition here's the people don't have the pensions anymore. Well known in in in look we we've gone through the numbers where you know a majority of not a majority but a large minority of people about 40% of people all the get a social security and that's you know 14100 bucks a month on efforts do not paying 78000. Dollars a month to go into one of those places and so there's only so much demand for those properties. And what's being a really big growth area for the last decade because of demographics. I wonder just appear financials mean you hate that might be captain this week we get a lot of questions about home price appreciation. They're still going up. It's just the rate at which home prices are increases is slowing so I took a look at vacation or data bird last month it's not good it was so if you take a look at July or August compared to July completely flat nationwide now so it it you were wise I'm not there that's that's good that lets people come into the market right. It allows wages to catch up to prices it depends who you're saying it's good for OK it's good for buyers and that hey you're gonna get price cuts and you're seeing price cuts now we're we're seeing increased levels price cuts. But in terms of overall economic health it's not a great sign. I don't know if it's temporary chuckling Q so you had two or three years were prices only increased by one or 2%. And peel him. This data suggesting that he get his star role no actually see prices going down like to again this was August before Reese our rates go up another quarter percent. Interest and now talkers all in on that he will see prices and a the rest of unsold homes not so much Dallas up 312 points the NASDAQ to 162 points. Son of a gun the S&P 500 is in a 38 its truck and very we'll be right back. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates 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 8776917900. 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 you Armstrong advisory group has a brand new guide this month called how to develop a retirement income strategy did yours today by calling 803934001. Or downloaded right now on our web site Armstrong advisory dot com securities are for the securities America incorporated member been Ressa PC and advisory services are for the securities America advisors incorporated Barry Armstrong represented a Armstrong advisory group the securities America companies are unaffiliated. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to Todd for years on the legal exchange radio program know that he's an expert an elder -- -- state claiming so you're just starting pouring into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing 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 only your rentable 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. Luckily 8668485699. Minutes 866845699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called 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 C 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. Income while you're in retirement you worked all your life and you've accumulated money in your higher raise your rock fiery Ager forward Kaczur for a three vis your pension plans all that money you've accumulated it then retired you say well gee I need 3000 dollars a month I need to design and develop income from my portfolio how does one do that in today's market shock when interest rates are so low. Well it really is -- challenged because you don't have the fixed income options that we used to CDs bonds that were yielding 567%. That does not here anymore and wanted to take our treasuries like 310. In one of the real challenges I think is being able to keep up with inflation if you're an instruments that are always yielding two or 3% and so the conventional wisdom is hey you take your rates attractive from a hundred and that's how much equity exposure you should have I don't know that necessarily holds true for everyone today simply because if -- in a portfolio that sixty or 70% bonds I think you might struggle with keeping up with inflation over the next couple decades what about factoring in what you're living expenses are how does one do that yet to make sure the have a budget put together before handed figuring out what you actually need and what your retirement looks like it's a big thing that you need to figure out are you gonna move to lower cost of living area of the certain expenses that falloff those are things they go into the. Whole process folks if you 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. 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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No. 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 say to date passed the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the -- -- need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our web site Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are. Unaffiliated hi this is very are strong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to attendance -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you. Your world stay informed and today about economic and market trends plus breaking business news. And now the financial exchange with the very Armstrong and shocks. We have a day where we are experiencing. Pretty strong rally in stock prices the Dow's up 270. What points the S&P is up 33 and the NASDAQ is up a 141. Points. Oil down fifteen cents a barrel at 66 of three gold at 1214 announce in the ten year treasury three sixteenths a lot of things are going the right way. Unless you happen to be a shareholder in General Electric. Their share struck down an additional two point 8% today nine dollars and 89 cents is Handel I've got. Right now you know things just are moving along very well Ford GE and I think there continue to be questions about you know what it's passed forward is going to be. What I will say is at some point okay. You have to match that a company like that is gonna say gee we finally came up with something okay. And at that point I do think it wasn't yesterday dealt with it certainly wasn't yesterday yesterday was not eight yesterday what does. We don't know what the heck we're doing. Where lose a lot of money we eliminated our dividend effectively they took their dividend down to one penny. So shareholders. You know a lot of people that owned the share struck orpheum stated only get yours for seven years eight years. We got people in our family owned the shares of GE. For since the thirties. Yeah I mean look it's it's a company that I think is without direction at the moment and the question is you know canned their new CEO Larry helped him in and say here's where we're going to go in and. Doesn't have any value when you look at the unfunded pension liabilities. The amount of debt they're caring they're they're not cash flow positive Zurich is is this a company is this the next. WorldCom. Enron I mean they've got criminal investigations going on as a relates to their counting per. I don't know what's going on under the hood with the accounting some gonna reserve judgment on that until we get details on what's actually going on there mark what I will say is in terms of you know what kind of company that. Neo they could be then. Think they could be digital wind I mean like they they could be in that situation where they simply have made bad decisions and how to allocate capital. And the die a slow and painful death over a ten to twenty year period. Why go would've federal prosecutor. Opening criminal accounting pro they must know something somebody. It there's a former insider. Rate that went to the feds and said hey these guys were cooking the books. It reminds. You you would think that they have something there's no worry if if they didn't have any evidence they wouldn't do anything the question is whether rises to the level of criminality didn't. Again so it's the unknowns as yours. An army look what when you hear the words you know criminal accounting from the worst case scenario is and okay. It's probably not that just because that's a once in a generation scantily you don't get Enron's popping up all the time like a yeah like they literally made everything up it wasn't real. GE makes real stuff then they have they sell jet engines they sell power plants that don't work they sell wind turbines like they have real stuff. So I don't think it's Enron but that doesn't mean that it's not a problem. Ten years ago. General Motors was the poster child for government bail. Right they they were bailed out quickly things can change the son of a gun they brought in who a CEO who I really respect she's an engineer by trade. She went to GM university literally. Her name's Mary Barre she's pro getting on in years she's probably winding down for tenure she's 56. Old she's got another five to tenor. If broad us you know sign or any ballpark yeah I'd say five anyway tough job but anyway GM some of it done. Here's the numbers the raw oil companies ever worked for but I know that's I had just like. Earnings per share a dollar 87. Right that's their profit vs the Wall Street expectations a dollar 25. So that's one number now you can you can maneuver that number folks you can say well we're gonna defer some expenses to the next quarter. Work. You know eat you play games with your earnings for quarter two. We hit play games with as your revenue revenue coming in at 35 point seven billion vs an expectation of 34 point eight so they beat on revenue by billion dollars. And they beat on earnings by a very wide market. And GM's stock up seven point 6% on this news the thing I'm surprised it's not up more than the thing that gives me a lot of comfort when you look at these numbers is. GM said yeah we're facing pricing pressure where we're facing you know higher input costs but then they can finish that sense and they said. Yeah but we also were able past those pricing pressures on. To war and consumers in that as a good products it in and that suggests to me that there's something special that's going on there specifically. When you have something that should be to monetize product which cars arming the look you we talk about the margins in autumn's their terrible it's not a high margin business. But when you have the ability to pass pricing on its suggest there's something good going on there I don't know what that's specifics on. Thing is John Moody thinks there under valuing. The car companies like he he owns the stock and he referenced the other day were chatting about GM said Perry. You look at Cruz automation greatly because they only. Right they own a big chunk of lift the lift would you say with two is valued at like fifteen million will it be older we don't even know how much of lithium. In an and that's the thing is you look at these different pieces and you say look if you were to get a fair valuation similar to what a Tesla gets a similar to you know you sit there and say. Hey there's some upside here if if they value in this fashion. I don't think they will because the legacy carmaker and it's not gonna get the same treatment does not have the same pizazz the same buzz but they're doing all the same things that all these CO high flying companies. Are getting all this press about the student under the radar. It's a real. Real sleeper pick for who could come out on top you know with some of these next generation Texan talking about. You know it's curious about the struck if you bought it for 36 dollars a share in the stock didn't do a darn thing didn't. You still make it 4% undermine four point 6% as it didn't. There that they run and Mary bear is running a very very good chip right now we'll see we'll see time time will tell. We are setting our clocks went are we setting occidental going backwards we all back fallback in the fall. Which is I like that one batter life well at least for the day just as a you pick up that extra hour to get to sleep an hour later but it doesn't count. And then you're tired at night she can go to bed easily for the work week wears in the spring. You spring forward and it's like in G at 7 o'clock am not really ready to go to bad actually it's it's it's easier in so it's this weekend it's 2 AM Sunday morning yes it's it's a big one for me. Got date circled. I'm not excited about this our poll question today would you be in favor of eliminating. Daylight saving time which is your clocks altogether it's a. On the culture until Aaliyah I owed me freak and OPEC either I just stayed on daily it's all you want there. Losers can go on the all time or whatever it is I'm staying on daylight savings time now. Permanent so urinary it'll of Graham now endeavors avoid putting out to avoid doing an hour that I'm I'm not doing too anymore. Actually don't do the other hours afterwards just analysts I mean you can do it does not going to be anybody here but you can. Not to self ultimately the period I'll pick on the book travel experts that I always say stay on your home time zone whenever you travel. Yes that's I'm gonna do here I'm staying on my home times in which summertime. Checks around. Tugs on there isn't separated they hit it we're gonna dissolve zones as odd as auto zone. You know a month ago we were ready to throw in the towel on Tesla. Tesla shares up four dollars and 83 cents today 334. Dollars this year. They are not bankrupt they are still in business they're still losing sixteen dollars a share but Ilan mosque. Is the master of manipulation. He's look he's got that. What they used to call with Steve Jobs the reality distortion field you listen to him talk and it just what I think all the reality distortion field and I had heard that before it's it's it's the thing where you know he starts talking and everything else about reality just melts away and it's just. How was he saying sounds nice I think that that happened that sound great now really X and you just tonic at work cited as he goes. You know what he's buying more shares of his own company ten million dollars he he just bought he says he's gonna buy another twenty million dollars. When I get a kick out of is people actually react to this musical Elon Musk is buying his own stock. Elon Musk is worth I think twenty billion dollars. So twenty million Elon Musk is like fifty bucks to me. Yeah it it's meaningless he's worth 22 billion dollars is so I ended mr. musk I apologize for underestimating your net. Well the promise the most that's tied up and unprofitable company so it's tougher and access more than ten million as time I would imagine yeah. But look Ilan is the best pitch man that we have seen since Steve Jobs he is probably pretty Smart guy. That you are we going there no had been critical no I was justifiably nut be you know I think he is the smartest guy in the room then I also think that he's ego. Which is also a NASA to him. Gets in the way more often than not in the last year and and that's been the problem is. Eli has not been able to separate his ego from how good he actually uses job which he's really good. But he needs to build profitable cup have you heard any rumors about who they're bringing in his term. I have to they've been close to deadline aren't they in next week I think all I didn't know that I think it's in early November that they have to have someone appointed there. Wonder who take that job. Emulate it's it's literally just go down the street hire babysitters see Larry call sixty bucks an hour job is. It would have this would have been a better gig then. And G. I do wonder who they're gonna look after this who lures there was one strange rumored to receive a. Can find directed to our car Charlie type person right there was the rumor Erdogan CFO you know there was the rumor couple weeks ago that when a Murdoch's kids was on the short list which didn't make any sense to me I'd I'd. Doubt that very much he is on the board rate in the one of the Murdoch's on the board I think so yeah. I EA if you have heard any rumors as to who's gonna take over and be the chairman and and you loans babysitters and Conan the chairman of the truck thinking get somebody for sixteen bucks an hour. Babysitters are more than that now are that their 20/20 five anyway. Send us a text message 63566. We don't know who's going to be the next chairman. Coming up we're going to be talking about apple and their new MacBook in the new iPad how much the prices increased I think worth it will you know. We'll also have our trivia question in the next segment. Business news is constantly break. And we're here to break it down and show what it means to your portfolio it's the financial exchange with Barry Armstrong and chuck soda 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 nickle hopefully none of you listening today or 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. Hope 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 -- 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 are for two securities America incorporated members and SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Do you have a trust to protect your assets if not then you're 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 -- Munster is a partner with the law firm of cushion 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 home this guy does yours by calling 8668485699. And -- radio show the legal exchange the always discusses issues they can affect you in later life if you're retired -- beginning the starter retirement planning and your 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 how to design and in come only irrevocable trust that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do you capable. Qualified war I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or he can visit them online at easy plumbing MA dot com for more information mass master license number 10. 183 again the number is 781862011. 90 hi this is Barry 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 there information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and even send out annual interest payments directly to tennis this call 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. 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. Right here on the financial exchange radio network. Yesterday apple. Let us in on some of their new products they unveiled two more expensive versions of its Mac. Personal computers Andy redesigned. IPad. As it seems to reinvigorate lackluster sales of PCs and tablets with higher priced devices interest in your goal in the opposite direction. And I think it's the exact rate direction for them so apple if if you're not familiar with you know specifically why they are such a profitable companies their margins they are the one company in Smartphones that actually. Makes profits. And they make massive profits on their computers as well and so the big thing here that you're seeing. Is you know there's there's always the temptation to go down market and say gee we wanna get you know more users who we wanna get cheaper in media you sell cheaper in order to get that. Apple's not doing that they're saying look we'd rather cater to a smaller niche. But be more profitable in doing so and and their computers are terrific immediate they they are when you look at I don't want home them. They're just great devices there at their outstanding and they don't and break. That they don't break their stable there you know easy it's to use for just about anyone their powerful. They don't get viruses and so you look at what they're doing here in the saying look we're gonna give up some sales on the bottom and just because. Price conscious shoppers are in a bias their fund that they've always been fine with are they making any changes that allow them to break into more of the business market. I don't knows so here's the big thing that I think holds them up from the business standpoint is just when you talk about. The sheer scale will when we talk relic companies that buy thousands of computers easier and I can pay these prices okay. So you'll see you know for referred developers in certain areas you know someone's doing. You know 3-D modeling and they say gee the Mac Pro is a great you know OK okay you know maybe by five of those could you need him in the office or something. But you're not gonna see you know. So and trendy and example like Exxon Mobil's knocking about 121000 Mac books just because they can get cheaper alternatives. That they're trying to get more into business but I just I don't know if if that's really where they're going to. Kind of find their bread buttered going forward it's it's always on the personal side. Just because that lets them keep margins it's it's kind of like with car companies the ones that make all the big fleet sales and yet they make a whole bunch sales but the profits are well. The two companies that make money pay the sales smaller numbers to smaller groups of people and but they make bigger margin. Your Mercedes engines. Our trivia contest is brought to you by seasons 52 they have 43 locations nationwide including two in the Boston area. And one in West Palm Beach seasons 52 is on a mission. On a mission to provide you with a better way to eat visit seasons 52 today. In Burlington Chestnut Hill or Palm Beach Gardens or go to seasons 52 dot com for menu information and reservations. Book your holiday party today and get a special gift for all of your. Of all your guests. Happy Halloween we're gonna be asking trivia questions about all things related to Halloween. In which year did the television special it's the great pumpkin Charlie Brown first year. No question. Our text number is 61 ahead at the top 163566. Is our text number if you like to compete in the trivia contest. Simply send us a message you send by first name Berry is in the body your tax then the correct answer C a guest the year or note the year. That the great pumpkin with Charlie Brown first aired. The listener with the correct answer law also select the winner. Though listener with a correct answer will win. A fifty dollar gift certificate to seasons 52 that ought to buy you will lunch may be in there. In which year did the television special it's the great. Pumpkin Charlie Brown first air 63566. Put my first name again at the beginning of your text message. Companies are raising prices and betting that consumers can pay more. And this is something that I've been touching on firm did decent chunk of the year in that inflation is coming it we haven't seen it on a consistent basis yet. But there's a lot of signs that start to pick up on the producer side they're trying to figure out hey had we pass those costs on to customers. It can we pass those costs on to customers and so what you're seeing right now is I think. A lot of companies in particular any company that is involved in hard goods what you're talking agriculture metal. You know machinery thing. Whatever it is that's hard goods. You are viewing it if you are a producer right now because all your major costs are going up we talk about you know the biggest cost that companies face up. Labor costs going up. Borrowing costs going gotten. Energy costs going material cost health care in all cases are going up miss you like. Every what are your major costs is going up we haven't seen that in a long time you go back to late 2012 men okay say. Okay cost of borrowing still going down cost labor still cheaper healthcare cost yep they're going up material costs about this like. You go back through the last ten years ago we didn't have unified price appreciation and all these major areas. In Seoul that companies are fueling kind of that pinch right now where they say. Gee we're we're trying to figure out whether or not we can pass these costs on to put some numbers. In perspective. If you are a a company that he's involved with. Any kind of shipping trucking costs are up 7% annually as of September and so you figure out okay. How to white pass that onto our raise my shipping costs to I've raised my product cost had a white. You know go about offsetting that. US auto makers and manufacturers paying 8% more for aluminum in 38% more for steel than a year ago. Will those kind of big components for cars you know. 38% more for steel that's of Pete give Yost that you're seeing there. And in this doesn't even get into. The tariffs that were imposed on Chinese imports and the 200 billion dollars worth the Chinese goods back in September that's now just starting to filter its way through the economy. And they're gonna have labor issues rate is GM is making the profits I'll tell you what the union. God and that it knows that GM had a pretty good quarter when it was their last deal to ghosts I don't know that the UAW likened tele. They're gonna be sitting around saying hey we won took those profit. And remember when it was always like it was last year now. So days of this without a solid labor it was right around this time actually it was just a small this was only a small one this does that factor in Ontario you remember the on strike last year. So they got a new deal last year but I'm trying to see workers that we've talked about this. Workers are gonna get paid. Then they are I mean it's it's doesn't matter what you do so whether your truck driver hamburger flipper day it sounds counter intuitive at first but he seemed most labor problems when the economy is good. You know it's when it's bad everyone's happy to have a job when it's good that's when you get workers come and insane Jeep you know. I wanna raise 4% raise this year it's not enough we need six we need eight we need ten or on the drive. Her anomaly than Terry Wright won't drive for somebody else right from the pipe fitter and I can go work for somebody else on the electrician I you know like if you have a skill. Especially one that requires licensing in training yeah chances are you know yours you're going to be a fine game for gambling. Dow is up 347. Points or and a nice rally on the last day of trading of October. The S&P 500 is up 41 points the NASDAQ pulled out nasdaq's up a 165. Points. But take a look FaceBook shares are up five dollars Amazon shares or 72 dollars a made yesterday was the bottom for in this on. Will come back and we're going to be talking about Hoover. The financial exchanges and live 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 -- that -- expert and elder law in the state claiming so you're just starting -- into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income only read the global trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. Minutes 8668485699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed dot com. Hi this is very are strong and I know that many of you who listened to my show are retired or nearing retirement me 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 -- whatever you saved to date has to last for the rest of your life he going to want that money to continue to grow over time even when you start drawing from 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 Wacey 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 to 803934001. Pre can download it right now on our web site Armstrong advisory dot com. Terry suffered securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated are. You having problems 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 all easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be a long 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. 862119. B at 781. 8621190. Or he can visit them on line 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 and are 41 K plans typically it's going into. Mutual funds or exchange traded funds that we're using to accumulate wealth. During our working your high earning years. That whole equation changes once we retire and we hit age 6570. And we say cheeks and a gun I need to take some income from powerful. Yeah it it really does change and specifically war go to Morgan income generation mindset and it's difficult today because if you look at a lot of the ways that people historically did that CDs yielding 5%. Bonds yielding five or 6% her you don't have those tools available anymore seat need to make sure that you're still adapting your portfolio to the new demands of retirement. But you need to make sure that using the right instruments and so that can be combination of dividend paying stocks. It can be equities that you simply think gonna grow and pull little principal off there. As well last in the right mix of bonds they can generate some income as well what about municipal bonds 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 are pretty 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 the 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 but who had financial exchange show does come. Yeah. As an occasional user of Bloomberg you know the it. Is this next story doesn't make a lot of sense for me to subscribe too far enough readers viewed either chuck. But Hoover is launching a subscription service for fifteen bucks a month. Yeah and in most cities it's gonna be more expensive in Los Angeles 25 bucks a month. But pretty much what it this is it's a service that is called the override past. And what it does is it doesn't. A chart it just allows you to avoid the service pricing and you know there I talked to a high. A friend of my son he's my son of one boy that lives in New York. And in one of his. Colleagues and friends works in advertising their all over the city they're going to Brooklyn and queens are going lower Manhattan upper Manhattan in the news Wilbur. In some cases 8090 times a month is that right yeah I mean there in that all the time they're they're using goober. And so I looked at this I said that's probably pretty good deal for them because then you can avoid the search prices surged pricing can double cost your right. It can do more than I mean if you're looking at some of the busy times are busy nights ago I know on new years is an example you know you'll see a lot of times search pricing 345. Times now that's kind of the exception. But he can see that sometimes it would does does it doesn't cover any of your cost but it simply says hey you're not going to pay surged pricing if you pay us this fifteen bucks a month that must hurt the driver's. My guess so here's you'd probably how the mechanics were the driver still and get paid full freight. They're gonna use this fifteen boxed offset that and hopefully you know cover some of that cost is my guess otherwise. Why would I drive like that's where it that well drivers make their money that you know that's right in that. That's exactly I mean I would think the driver to be ticked about this. I was attribute I did lose the in the answer to our trivia it trivia was at the television special it's the great pumpkin Charlie Brown first aired on CBS. On October 27. 1966. The special aired annually on CBS until 201. When it became a staple on EBC and had no. The winner on that question was Peter from gossipy New Hampshire and Peters taking home a fifty dollar gift certificate. Two seasons 52 and archery contest is brought to you by seasons 52. They've got 43 locations nationwide including two in the Boston area and then one in West Palm Beach. And seasons 52 was on a mission and that mission is to provide you with a better way to eat. You can visit seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens or go to seasons 52 dot com from a new information and razor patience. I saw a story about ocean carriers. Bracing for orders surged ahead of the potential new tariffs so if I am. But she's best buy is an example yet they must know how many TVs they're gonna sell. In April of 2019. Right now do would they know that. Or even use the Christmas season is example you know they say okay we know that we're gonna sell called a million TVs announced probably not but a million TV. They might say hey normally we do you know 300000 September 3 and 2000 October 3000 in November. Let's bring those all forward into September in order to get ahead of tariffs and hey. Now we know that there are some concerns going on with regards to higher tariffs going into place from China. Gee maybe we should pull all of those you know orders from me you know January February march in the head into October now we're November. Because we don't wanna be having to pay higher tariffs down the road. So what will this do to the yearnings for a company like Merck like I'm I'm wondering. Are we get to see an artificial blip. In some of the earnings reports for these companies these shipping companies you are to give you a good example of what this'll lookalike. I'm pulling up right now just because that we get as we saw a great example of this in Friday's GDP report actually. Which again was kind of a mixed bag in Seattle area added GDP wasn't as good as we thought it was a no but here's one of the things that was interesting because it wasn't as good as we thought but it might not be as bad as we thought either and you sit there and civil chuck camped both those knives make the argument yes it can actually here's why. So if you take a look at the effect imports had in the third quarter. They created a one point 34%. Drag on GDP in the third quarter okay. That is the highest that we have seen since the fourth quarter of last year. Prior to that we actually saw declining deficits and trade deficits for the last couple quarters actually. But what happened in the third quarter. If you saw a bunch accompanies probably pull orders forward in in order to get them in before tariffs went into effect and and that's why you saw a little bit more drag from imports in that quarter than we have seen in the last couple. And makes you wonder what happens if the terrorist uncle into effect I mean if the president cooks up the deal with sheet. That this month and next month you know kind of getting down to you know did not not a deadline but you know that meaning shaping up to be pretty important in November. He's if it you know both guys are stubborn and very powerful man. And neither one really wants to back down when is that going to what what's the data that meeting I don't know the twentieth but I'm sure. Can't remember the exact day that it is after the election. I'm an eighty's so was it the twenties that's Thanksgiving week. Trying to figure when it is just you that's that's a big one that you want to be watch and yet it is right around the twentieth it looks like it but yes this is what you could see is a lot of these shipping companies. They might see a short term spike. And people might say OJ you know they beat earnings this quarter by you know 2030%. But in their guidance they may say gag we beat this quarter but that's just because orders for next quarter looking weaker since allotments VO pulled forward. Now bio on these companies years so. It it makes it unpredictable for again it's just trying to handle the supply chain cost management it makes it really difficult for these companies when we come. Akron be taking a look at the Juan rate to the weakest level it's been and a decade. We'll do that on a day where the Dow is rallying how much well summit on the Dow's up 306 points. The financial exchange. His role or Italy England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. You have a trust to protect your assets if not then you're closing in 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 -- -- -- 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 and will include the exact language that you need to protect your assets from -- in the nursing home this guy does yours by calling 8668485699. And -- radio show the legal exchange the always discusses issues they can affect you in later life if you're retired -- beginning the starter retirement planning and -- 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. Hi this is bury -- -- and if you're a landlord or property manager I'm sure you've heard me talk about -- rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits C deposit also automate many of the compliance headaches for landlords such as generating help disclosure forms and even send out annual interest payments directly to attendance this call dizzy 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 blocked sink or dream. What leaky faucet or 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. Cult easy plumbing. Easy makes it easy they're experts they're knowledgeable courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781862119. 7818621190. Or he 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 of you who listened to my show are retired or nearing retirement age if you don't have 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 -- whatever you say to date passed the last for the rest of your life he going to want that money to continue to grow over time even when you start drawing from 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 Wacey need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our web site Armstrong advisory dot com. To resort to securities America incorporated members in SA BC and advisory services are with the securities America advisors incorporated Barry Armstrong represented a Armstrong advisory group the securities and our companies are unaffiliated. Security suffered through securities America and members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated the markets are still volatile. Get our weekly monthly recap about becoming a member of berries brigade is a financial exchange showed dot com and sign up today. Many of you have work. Hard to accumulate assets and well during the last fifty years forty years thirty years and you're sitting there and you might be your sixty sane while I've got a nice little mistakes saved up and if you're like me want that money to some day go to your children in your grandchildren and not the state of Massachusetts. State of Florida. And you don't want it to go to nursing home. So have you even looked into the creation of durable global trusts and wanted to talk to Todd Laats he who has are in studio guest. Who Todd should consider using Medicaid durable global trust and talking about trust spoke that you use you you put stuff. It assets like real estate and stocks into these trusts. But the idea with the idea being you don't want that money to go to the nursing home Ito wanted to go to the state. Right and I think it does both of those so you know it's gonna help you reduce the state taxes and it's gonna avoid probate and like you said an added benefit is. It's going to help you protect the assets from the nursing homes so to your question who should do this. I would say people over the age of sixty as a rule of thumb is a good idea start considering it. One because it takes five years to protect it when I haven't you back in write your rearview mere by the time you're 65 share. Does it mean if you're listening in your 75 very you don't too and yet the clock what they probably more urgency for 75 year old to do it. Then there is for a 65 to do I would say absolutely yes that Mary and and the point is getting the clock running. Is always gonna give you more opportunity and a better options and that's not right you don't people get concerned I run into an all time world via cocktail party talking about this and say well. You know you'd he can't buy long term care insurance nobody so true. So if you can't buy if you create durable will trust then people roll their eyes. And say well I don't wanna give up control. Yeah I think that's the big misnomer in the east trust and that's hopefully what this materials and help you understand is that. That you don't give up control what this kind of and Europe Opel trust. Like for example. You can deliver your house pay your bills let's sell your house uses something even more. Let's have a broker to show all investments in stocks and bonds that bottle the last forty years at a million dollars and that counts yeah. In I think and I'd like to put that into the trust for the purpose of protecting. Absolutely candid. And I still decide which stocks and bonds it bought and sold inside that brokerage account great question and the answer is absolutely yes and even if you are not serving as trustee what's the cost of doing with with the clause that don't. That the clauses that that as don't nor the trust you the creator right as it was five million down it's your million dollars. You are allowed to go to your brokerage account and then you have this ability to. Lines that have conversations is called limited trading authority that many in the brokerage council into. Meaning you can't go take the money now all directly. But you're allowed to continue to manage it have your meetings or sit downs with your financially I got the million dollars I just can't spend it. No that's not there at that. That's not true you absolutely can manage it. You can collect the income take the money out just probably what you're doing every day anyway right and there's even ways to get the principal back if you need to. But it's usually it's usually you're the goal is you've got diary money. You've got other money that you leave outside the trust for emergency action what you brought that up so if you create one of the east frosts he's durable trusts and you put your million dollar brokerage house. Should you spend your prior to tip your diary in. The ire and so leave that outside the trust it not if in order to put the diary in a trustee have taken out of the diary pale the taxes and one year he's stupid yeah and and and put it into the trust nobody does that answer emergency fund which you're spending your wedding this money in the trust grow and grow. That's the goal tries and should released. Its income but I want you let that grow for the safety and I don't need it you don't need it leave and he absolutely leave it. Remember it's there in case one spouse gets sick and goes in the nursing home you have this bucket of money protected for the other spouse. That's really important or the family why is this stuff so complicated. Well I don't think it does once you have a meeting with us and you learn about it likes it really isn't complicated. I rated this with you there. I I I can tell you I've been to a missile long time. And I'd meet people and I get confused by the it seems like. Seems that the government has made this harder. Over the last 23 year I remember back in the act I went through this in the 1980s. With my father in law and mother and it was nowhere near as I think that there are looking for money looking for ways efforts for these not to work. But again that's the point of of getting good counsel when their draft if they're drafted right. They work it's that simple but you're right they are looking for the money the states are looking for the money. Thought thank you you're quite welcome thanks for having me appreciate your. Union that's Todd left ski he works at a law firm called Cushing in dole and and during the month of October they've been giving away. This booklet. That is available to you it's cold designing. And in come only durable global trust pretty straightforward it's it's not. It's not short I mean it's a twenty page document but for those of you. Who might be over the age of sixty. And do not have long term care insurance it's a worthy reach it something you should take a look at study. Maybe talk to your accountant talked your financial advisor about it because I'll tell you what it. As you get older you start to think about these issues you start to think about. What happens when my wife gets it what happens when I get sick when you know what happens although wealth. That we've accumulated during during our lifetime. The guide is called designing an income only durable global trust immunity give you a phone number to call its 866. 848. 5699. Today is the last day of the month and it is the last day for you'd call and receive this guide from Cushing handle. 8668485699. Is the phone number now some of you might say well I don't wanna wait I want this guy right now. Simply go to legal exchange show dot com legal exchange showed dot com if you want to download the guide right now. Or if you wanna physical copy mailed to you or emailed to you you can call us again the phone number is whole free. 8668485699. China. Has set the official one rate at the weakest level in a decade why would they do. So pretty much this is one of the tools that China has to you know really affects the overall growth trajectory of their economy. They did something similar to wait we have a much larger BO intraday move actually back in 25 team. In pretty much what this does is it makes their exports much more competitive because it reduces the cost. Ian in other currencies terms so let's say that I'm trying to buy goods from China OK and I just had 10% tariffs placed in on what I'm trying to buy from them. If China reduces their currencies value by 10% now. They could effectively offset those hair but what does it do to the people that live in child. The guy I just think like if our currency goes down I know my gasoline bill goes up. It doesn't do it Tallinn to China aside from the energy such things does affect energy is gonna make it more expensive and local currencies. But remember China doesn't imported tonne from other places as far as finished goods they produce a lot of you know turn up. You know if if you're buying gilts are buying raw material for the the ball that's sourced in China you know if you're not having to go to another currency it's not having an impact it's when you left import. If you are a debtor nation that imports OK you devalue your currency. Imports become more expensive right. In China's case import them the jig is that the big thing they're importing is energy there wearing a ton of oil okay. But when you take a look at you know the other stuff all the rare earth minerals there all mind and China life you know you have all kinds of aluminum minds in China. There's all you know it's a lot of the goods are sourced there to begin with. And so you don't necessarily run into problems with your own people not being able for those things they've been accused of being a currency manipulator in the past and is this currency manipulation Treasury Department found it wasn't. And just were in those two weeks ago. Yeah Steve minutia came out and says hey there Jim they're not a currency manipulator and. Can they continue to do this through the you know they went down a little bit here Q what what if the president sought to 25% track terrified they gonna do die of their currency it's so it's this is kind of the chess match that that's being played right now is whether or not they are going to go down this road. I don't think it's beneficial to them for the long term to do this there. Because they're trying to build up their own currency. As a stable means of exchange they can replace the dollar and in a four you do starts an appearance gonna play around with the just to win this trade war now it doesn't do a lot of good terms that. In terms there long term planning if there's one thing China's been really good at the last 25 years ago. It being focused on the long game at the expense of the short game great bit let's use Boeing is an example they buy a lot of jets from bowling yes. When they buy those jets into buying them and want their buying them in US currency correct so when you have to import something like that. To be deal the big thing that China is doing they have a state run. Airplane manufacturer that's just getting spool up now that likely has taken the decent amount of Boeing and Airbus technology. And they are trying to compete with those exact companies actually. But if I'm a wealthy Chinese person why would I leave it Sam make thousand dollars and and I have a thousand. Dollars saved in China why would I leave it in China and knowing that my government's gonna devalue the currency wouldn't is there you'd try to de risk the that of a currency flight. Oh there absolutely is but China is pretty good at trying to bring that in three to capital controls or you know just saying eight. You can't do it because you see that a lot with the you're in Florida or whether you're in New England. You see a lot of Chinese money coming in to both markets and buying a realist one in specifically it's it's dollars actually because again there's the surplus of dollars that flows over to China and there's and they're saying look we can't invest this money here let's go by real state back in the US because a it's out of the country and be able to to value a lot of its attempt to know reality they buy it unit here. Their condos in New York Boston Florida. That are sitting empty nobody ever sleeps with them yet but their own by the Chinese Doria its look in in the reason why is because we buy all these goods from China may end up with this surplus dollars they say got to win something what are we gonna do they used to buy treasuries they're not anymore now now it's OK let's buy realistic to better investment for the long term. He seek kids at University of Miami that are living in luxury homes go to school and an undergraduate degree. The market heck of a rally going on the Dow's up 306 points than nasdaq's up a 130 points the S&P 500 is up 33. Price of oil is up nineteen cents a barrel at 6637. We'll be back tomorrow with a another edition of the financial exchange.