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Full Show 11-1-18

Nov 1, 2018|

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This is the financial exchange with the very Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. In my opinion there is no greater indication as to the strength of the American economy. And wage growth and let me share statistics with you by may. Wages and salaries. Paid to private sector US workers rose three point 1%. From a year earlier in the third quarter the Labor Department said this yesterday. That was the strongest year over year gain since the second quarter. Of 2008. Hi everybody it's Berrian truck with you here it's a Thursday morning. And you know I been a long I've been waiting a long time for wage growth we're finally at Sam at least a year maybe two years. Behind Kerr. But it's finally come Yemen that the data that we have seen even in the last jobs report showed that wage growth for the third quarter was growing in an annualized rate. About three point 9% of this meshes with that and says okay. We're somewhere in the range right now. Of that three and a half to 4% range for wage growth C or seeing a significant pick up. From a year ago when you go back to the fourth quarter of twenty seventeen. And on the unemployment reports we look at the data there. Which group is only 2% for the quarter. Right so we've seen a significant and consistent increases welts got what do you attribute the wage growth. Like workers. It's it's it's like coworkers I mean that's did the single biggest thing if you talk to just about any company out there. It's they can't find workers in this environment what do you do in the situation your company yea you're your aim is laid their labor intensive business. What do you do in that instance you've got 300000 employees worldwide you're UP SE just think about the Wal-Mart at these large companies track. How did they manage themselves through. This period of worker shortages it's it's a combination of different factors that they're gonna have to employ in what whenever you see something like this. It's in the short term to get paid workers because otherwise they're just not going to be we're seeing that with Amazon Amazon saying. Hey we've got to raise our minimum wage in our facilities from eleven dollars up to fifteen week we have to make that move otherwise we're not competitive soon short term it's. They we we gotta pay the workers. In the long term it's hey now we've got all these inflationary pressures that we're dealing with the cause of that. Man we need innovated automation Winnie it's not even when they checked me they kept I look at it and I say. They've got to invest in technology. Like these companies are going to be doing everything they can. To automate witty if you're UPS what can you do to use robotics if you're and is on what how can you increase cured using robotics and warehouse. How can you increase the rate of investment in robotics in order to reduce your head. I think robotics is too narrow vision you know it's it's not just robotics a mean. If if we look at that's a piece of the puzzle but it's it's hey how can we just make our workers more efficient even what kind of systems can rebuild so that instead of a worker. You know for UPS delivering. Fifty packages now or whatever it is and how we get to fifty fives at least 10% more efficient so we can absorb that extra wage that he's now going to be getting paid those of the questions the big thing that I go back to with companies like Amazon. Amazon for all the crap they get about you know different things that they do wrong and look they've they deserve a lot of it in terms of you know counterfeits problems the problems they've had not paying people enough and so forth. Amazon invest a boatload and in the research and development to put it in perspective here. Amazon has about half the sales of apple. On an annual base smoke I mean there's a dollar amount in terms of dollar and noted if you go and take a look. Apple last year thinking about 240 billion in sales from amateur 260. Billion. Amazon did about a 135 so it's about half last year and this year it's going to be much bigger because it's him still growing at 30%. But Amazon last year spent 23 billion dollars on research and development and apple despite having twice the overall sales numbers spent about ten billion and so Amazon on a per dollar basis in terms the revenue they bring in spends four times as much as apple. On our and to think about numbers employees Amazon has to apple it's massive. And in in Amazon exiting 308 it's anything to counter that so many VR app world this fraction. That the stuff that they're trying to solve is much different from apple apple is they had we get production costs down how do we get you know more powerful chips in me and we build better products that people like Amazon is. Had we yield steer 400000. Workers or however I think it's like 300 and some odd thousand now. To get them to do you know what we need them to do these worker shortages. Must be fantastic in terms of dealing with incoming call m.'s on bodily 563000. Workers is Harold replied yeah. 563000. Workers worldwide. It think about what this does for income inequality memory a couple years ago you had with a whimper 99% others I don't think it does anything you don't go up wage growth is still strong you know you're so long as the bottom wage championship it's. You're you're talking about people going doubling their wage track. You use the guy who's doubling their wage the eight dollar worker now can go work at Amazon for sixteen to twenty bucks an hour wage growth is 3%. They're not doubling their way OK some workers on the margin might beaten. But we have data in multiple places that says wage growth is between three and 4% how much. Potter does this yet the media you're looking at. I I was looking at some economic forecasts for next year they're saying we're gonna have unemployment at 3% next 2019. Nash I don't read like I remember the ninety struck in we never had unemployment 3% what's. So there's a couple different things that cloud the picture for me. The first is what we're gonna see from an interest rate perspective. If you see the Fed continue with their policy where they say look we are going to three hikes next year after four this year. You're not a C 3% and appoint. Economists are not strong enough to be able to sustain is if you get three more hikes next year you're pushing the ten year treasury. Probably up an additional quarter to half a percent three and a half. Maybe even 3750. Okay. That has the effect of pushing mortgage rates at five and a half percent and that's up 2% from just two years ago that means that housing is now a 20% more expensive thirty years ago I bought a house struck with a 9% or it doesn't matter. It's relative and it doesn't matter what what was. Happening thirty years ago doesn't matter what matters is that you are now raising the cost of homeownership 20% in two years after home prices have already risen 25% two years prior. You get 50% rises in home prices despite the fact that waged have been going up 3% a year and it's just the the math doesn't make sense there's a 35% gap then. But you got to fail I hesitate to bring this next story up because it might depressed Carcillo. A real burn up these for her after her up there close enough to Friday that a you know there's escape coming. A child born in year 28 team who begins kindergarten in the fall of 20/20 three would attend college between the years of 2036. On an important. Tucker junior TJ so Leo. If that child attended an. Average public in state four year college and if the annual pace price increases for public colleges. Experience of the last thirty years five point 4% per year. Continue into the future talker. The aggregate for year cost of the child's college education including tuition fees room and board. Would be 237000. Dollars 262. Or 59000 dollars a year for them to go to two. And and ports. So it's pretty much all of this kid's gonna do is a study. I'm up I don't I support this is in state tuition if they wanna go to Florida State it's going to be more than sixty and the attacker could. Tucker Tucker might be even afford them move force it while UMass that. Right if you stay in your ass they're saying in in in state tuition at but it might question to you to jail. Is. It would your generation think about college education again I I our generation just spent whatever we had we spent her retirement funds we spent our home equity. We borrowed we took care plus loans. All of which I think whether in retrospect. A little bit. Not. My view and again I don't know what. Tucker thinks it is and wanna get that deep inside his head on a daily you don't wanna he's deepened some enough not a place I wanna spend a dark place. In general my view is look it's it's. Don't to be something where I think a lot of people are going to be much more discerning about where they send their kids for the cost McCain the reason for that. Is that there are so many people between the ages 25 and thirty right now that have an awful lot of student debt that is held them back from doing other things. That I don't think they want a passed that same. Future on to their kids and now that doesn't mean that they are going to abandon. The idea of going to college but I think they're going to be much more discerning about price when they're shopping around then maybe they were when they were applying to college fifteen or twenty years ago. Because there's about five years ago where the pool of college applicants. Begin to begin to decline they used when he thirteen was the first year. With the number of kids applying to college started to do well in in demographically by the way there is a monster coming for colleges and about seven years that is going to eat a whole bunch of them along explain. If you look at birth rates in 2008 and 2009. During the financial crisis they plummeted you have you know. Significant drops in the number of kids that are those ages compared to the age cohorts before and it never came back did what if it came back a little but not enough to get back so. You've got this wave starting about seven years. That you're going to see admissions numbers just dropping it colleges just because everybody gets an apartment they're start up kids to go round. You know and what it if you expect to see call college closures and we've seen a lot. But it did this theory news you'd see a lot of it was the school runner mount Ida Mae closed. Two up put these numbers in perspective okay. In 2005. In my OK we had about four point 13 million births OK so you know it yet this consisting growth up from 2000 where was four point 05 C you're seeing a slight growth each year in the number of you know people. That were being born. 2009 was below that. You know five years later and you go down by about a quarter percent yeah that's that's a real impact your college trying to plan on you know your your finances. And it that does seem to be coming back. I haven't seen the data from the last year too I know that 2016 actually and know it was a little bit disappointing but. It does not appear that we've seen it to this point in the data. Coming up for me talking about a fit it orchestra and change and. We would like to know whether you own a fair bit device he can participate in our poll by visiting our web site financial exchange showed dot com do you own a fit that does device. I don't but we'll talk about picked it because they reported earnings yesterday that's our next topic on the financial exchange. Breaking financial news. The financial exchange with Barry Armstrong and chuck sub on the financial exchange radio network as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy cleaning is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- and -- can help time as an expert in estate -- elder law and taxation and if -- in the process of legacy -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that -- need to consider as you begin your planning -- call 8668485699. And get this free guide to gifts or not a -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website -- exchange -- dot com. Are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy coming in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 862. 1190. Or you can visit them online at easy plumbing MA dot com for more information mass master license number 10. 183 again the number is 781. 862119. No. Hi everybody it's Barry Armstrong and I'm joined today by executive vice president from liter bank mr. Jake tool and were talking about this account today. It's called the Zuma rewards account and the thing that really caught my eye on this account is it's a savings account that sort of again if you guys are providing. Two point 05%. EPY. On that account how do you do. Yet it's one of our most popular. Retail banking products vary so. It's it checking and savings companion product the Oca and if you qualify. You get some great reward so for example you 2.0 5%. EP wise your savings account up 200000 dollars 100000. You get 1% cash back and all of beard he's suspending your debit card that's good eight at eight here reimbursements if you use another thing seat him. And so do qualify I'm traveling in a Matta town there's not a leader bank branch nearby. I can use that ATM card number and be reimbursed the three dollars order exactly. That in so the benefit of that is that really expands or breach network yeah he's in need yen. It doesn't have to be leader Banc one. It's called fights pretty simple unions to have your direct deposit owned the bank at least 12100 a month for you need to use. You use you count at least ten transactions a month incentive for east Dayton itself. It's it's something that customers would do anyways using right now right yeah it's great benefits. And yet two point 05% annual percentage yield on your savings. Try finding that in another bank leader bank offers it. It's called Zuma rewards account paying two point 05% annual percentage yield on balances up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them online leader bank dot com. It's called Zuma rewards account ZEUGMA. 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. Married to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. The college experience is going to change during the next. Ten or twenty years some of the numbers are pretty startled. Yes so what what we're talking about prior to the last break so if you go back to 2007. In the United States and there were four point 32 million births. If you go forward just a few years to 2011 and it was down to three point 95 million that's a 10% decline in a span of four years. That is a wave that is coming for colleges that if they don't start preparing now in terms their financial picture. It it's gonna run over all we not all of them but it's that the colleges that are not that we universities that are not cheap. Are going to get absolutely bowled over by. This would be despite that. Do you think there's gonna be moved towards more on line skill training we've seen that already break you even had the emergence of these boot camps in the boot camps tend to be kids that. Were you know young and Smart but had of a frivolous college degree. And they say you know what I can't find a job or can't make a living working as a social workers on him to go to boot camp. And learn how to become a programmer and make nine degree Dijjer you're going to have something that shows up aside from the traditional. You know for two year college that we've become accustomed to discuss again that the numbers don't make sense in twenty years out if you continue to seek cost increases that rates so you're going to see something else develop. I don't know what it's going we're about to treats you referenced the other day about the the pipe fitter I personally I'd I'd send my kids into the trees in a heartbeat now. Like it's it's something that I think every fan we should be looking out it is. Again the salaries are good and the jobs can't be outsourced. You don't have the same expenses that you do paying for college and to me it's a slam dunk. And talked any trades in and out there it doesn't matter if their pipe fitter it doesn't matter they're an electrician doesn't matter their Palmer. They can't find help listen to this text message we got from 774 Barrett. I'm left and that the fastener show in Vegas myself packaging machine. That doubles the productivity and that shows a good take by the way. Right good to go there but it's a phenomenal thing to visit the pro silk identical stuff well me he hit his machine doubles the productivity of hand packer. Guess what we're having a great show you know if you look back in time and the most. Relevant period of time this is still modern economy. Was after world work to marry yet yup you know a lot of American men killed you had a baby boom. That began in 1948. And you had a dramatic shortage of American workers at that point. And what occurred was the amount of money invested in technology. And improving you know and automation. Was was quadrupled and he just had a tremendous investment and automation and factory improvements brought in the forties and fifties and grow it went right into the sixties. And in and I tend to be of the opinion that. Companies perform best in terms of innovation and productivity under pressure yeah it's who you look at the last ten years. It's been cheap money you could do all your buybacks and all the stuff that you wanna do. It's been a case where it's easy to find workers cheaply great you don't need to pay it but when now when companies are stressed. They have to adapt and that's what I think you're going to see I I think that. You are absolutely right on that that you are going to see by the way. Some numbers to reference there the last time that we did see the US unemployment rate below 3%. Was the 1950s. Music and I last time that we were down there was in 1953. The unemployment rate was two and a. Half percent to take a look at the birth rate per person back in the fifties immediately were haven't. You know it was normal to see families you're you guys don't I just trying to put pressure on so you don't you don't as they'll remember this but it was not abnormal. To see a family with six or seven kids you know back when when I was a kid grown up there your families in the neighborhood today. You know when you look around your peer group right. Like three years a lot of kids yelled. Most of millennial are talking about having. No kids or maybe one did the war you know they're really. Feeling that they they might have a couple kids. Back in in the fifties and sixties it was you you had big big theme weeks. Actually this is kind of fascinating here have US census data going back to 1850 actually. And I don't wanna go back that far just because back then you still I'd significant amounts of families having nine plus children so he had to because there's an agricultural society in you needed them to work on the farm it will and also happen would die. You know like you infant mortality in the end child mortality rates were through the roof. What's really interesting is the big shift even if you look at the 1930s and forties and you still had a significant amount of families with 34 and five kids today. Yet it's somewhere less than two yes so with four but the majority of families that have kids are having to okay. And then one and zero RE if you take those those are actually of more people than not at this. It's changed in it's society's changed. Fit it. I'd I don't have a device my wife does and so when we travel she tells me how many steps we walked due to worsen things are used to have one I did a I was in my mother used to walk worse steps and I did so I stopped using. They've been discouragement or does it change your pressure is peer pressure if you call me ninths they won't need to. Did a nice record here okay and by nice little quarter I mean hate things don't appear Quaid is bad at it it as they did. Yesterday they beat on revenue by about 4%. They indicted for the fourth quarter a little bit stronger as well and so that the stock's up about 25%. Ian. Early trading today the big thing that I still have questions on with this company is is that sustainable and do they have if they figured out the recurring revenue. Doesn't seem like it and in again this accompany it still is not. Profitable in the long run here. And they make a lot of people have their devices it's a commodity or your hotel now. It's it's to monetize product now. You know that's that's the question is how much is apple hurting them. Because they came out with the fit it before you had the Iowa what we so we don't actually know is apple doesn't break out the I watch sales of the apple wants sales from all of its other devices it just throws in this other category and so were kinda left to guess. So we don't know how many watch is apple selling wood I'll tell you. The latest iteration of the apple watch the first one that started to get me interested in it. The thing that I still can't get over the fact yet to charge thing every great. And it may not make it through holding though that we had listeners calling in Encino and you can charge it at night telling me to it it probably depends on where you are and what kind of cell service yup is one of the biggest drains on the any kind of electronic device if you're in an area that's bad sell services to accept the pain out to towers it just chews up battery. 80% of our audience does not have a fit it to place 20%. Do have interest and taxes. When we come back we'll have a market update for you another positive day on Wall Street to report. And then I hate to do it that we are going to pile on GP more bad news as it relates to General Electric. Life goes on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. Know that. 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Dot net as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming there's not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public ski senior partner with a laugh from of cushion and Dolan can help time is an expert in this state claiming elder law and taxation and if you're in the process of legacy planning you need to call him right now and get his new free guide to gifts or not a gift in it you'll find information related to the gifting process with Texas issues may arise from a significant gift click at home or vacation property. And what happens to the asset of the child has creditor issues these are all things that you need to consider as you begin your planning circle 866845699. And get this free guide to gifts or not a gift it's 8668485699. Cushing Dolan has over thirty years experience helping families like yours let them help you do call 8668485699. Or download the guide right now from our website legal exchange showed dot com. It's pretty hard to find a bank that as -- checking and savings account that can provide a 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%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. Deposit to opener annual percentage yield is ten dollars to put your 3% interest rate messrs. rental fees reduce earnings were subject to change without notice leader back a step ahead member of the icy. When you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one -- and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and -- your gold locally it just makes sense of -- -- -- call -- learn -- call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency -- guaranteed by the bank and may go down in value -- back a step ahead this is a special announcement for a landlords chasing -- only rent payments and making trips to the bank to deposit checks -- hassle -- -- -- -- with -- and leader banks all -- rent collection -- he -- automatically -- tenant's rent and deposited into your account visit www. -- -- dot -- to learn more -- -- rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months -- free for all landlords visit WWW -- he -- -- meant to learn more or call 7816418691. Time now for street watch a look at the market's performance so far today victim Marian jog right here on the financial exchange radio network. Time now for Wall Street watched brought to you five leader bank with the leaders is who will rewards account to get 1% cash back with debit purchases and an extra. 10% back. When he use your card act featured businesses to qualify for these and other rewards cult leader bank 8776917900. Member FDIC. Do we dare speculate as to why did Dow is up a 139. Points and the NASDAQ up fifty. I don't. Now I do not theirs and I definitely know I I don't the president I tweeted recently did just like minutes ago. That he thinks that they're gonna work at one heck of a deal with president. I think there is there's some guidance that I got from this manufacturing report that we got this morning. We get Chinese manufacturers know this is the the ISM manufacturing index for the US is. And what's interesting here is if you look at what's up today and on the sector by sector basis materials are the biggest sector that's leading up about two and a half percent. And the big thing that I saw when you looked at a lot of the commentary coming out of these some quotes from the ISM survey they did pretty much go out and survey manufacture and say hey what what are you seeing. This one from a computer and electronic products company. All electronic components are having shortages in much longer lead times that impact production. From a chemical products company tariffs are causing inflation increased cause of imports increased costs freight increased domestic cost. Transportation equipment demand is high and supply chains are stressed. Primary metals we continue to run at full capacity continues he pricing pressures and longer lead times most commodities. There's inflation coming bit late this. I have been at scream I don't I've been beating this drum all year it's watched the next two to three months you're going to see it showing up. All over the. What's the bad part like I look at inflation says okay you know the cost of my laptops gonna go. From you know 400 dollars to 500 dollars cost of my home improvement or put in new kitchen I saw one the other day. In the kitchen rep renovation was 25 grand went up by 500 bucks because of material cost increases that I mean. 500 dollars and 25000 dollar renovation is not. It's insignificant. Well that's what we've been seen. Watch the next few I'm I'm telling you watch the next few months there there's something coming here and I don't know exactly what it is but there is inflation coming. And the question is going to be is the Fed going to be able to deal with it by raising rates which grinds the economy downs in slows it significantly. Or did they say hey we're gonna let inflation run hot which really hurts people on fixed incomes up and really hurts people in low wage jobs you know it's unusual to go Turkey is a lot of conflicting data there always this. You look I don't think there is late look at American electric and power EP and Europe power sales are down meaning people are using less electric. That's not necessarily related to. What we're seeing from a cost perspective them. Mean isn't that it isn't that indicative of the over a TV if you look at the Chinese economy one of the ways we. Get insight. To the Chinese economy is we don't trust the government is we look at how much electricity use what was happening with pricing and guess what I'm getting well if you have rain if if if all of a sudden electricity usage is up by 10%. That means your manufacturing sector is increasing wrap it doesn't because most manufacturers use manufacturer slowing. Now to this this ISM report came in about one half percent below expectations here it shook like that's consistent with the EP. In this is exactly this is my biggest fear is what. Is potentially happen aren't happening right now which is stagflation which you have inflationary pressures building that you have growth slowing and anyone who lived through the 1970s I didn't live through it. I've heard stories I. Don't really wanna go through that. I hate to pile on as it relates to GE I get emails every day we'll do it anyways well look it's in the news right it's our job to report it. Moody's downgraded. G now GE for those of you who are younger. GE used to do Goldstein GE had AAA credit rating. Like ExxonMobil I mean eight there were one of the companies they were the gold standard. For he wanted to lend money to the saying that I always heard was you know as GE goes so goes the US that was kind of what bill was as GM goes you know another audio. They're they're downgraded now there's not junk bonds but now we have a clear picture as to why they did that dramatic dividend reduction. Yet the GE was lowered by Moody's. Two notches to B double A one which is just three steps above junk. Following a similar reduction. That S&P made four weeks ago and so. This largely is related to your questions on their cash flow and whether or not they're going to be able than to Kenneth square things away on that side and a lot of this really is related to problems in that power sector. You know that there aviation unit remain strong the produce and whole bunch of jet engines for bone that they just keep churning out right now. Their health care units at. Pretty good but that that power unit just continues to cause problems for them. Let me read the report. From the the CFO as a relates to the power unit. The power units difficulties a quote from their conference call. Will persist longer and would deeper impact than expected chief financial officer Jamie Miller says it on a conference call on Tuesday as a result. GE will miss its full target for cash flow by a significant amount. What makes it tough to get excited about buying stock. It done it in even at these prices have me it's not trading expensively but the problem is we like. I've seen this stored before with IBM where it's behind a note expensive is because you have no idea what he's going to be. Well it in and this is there's going to be unique and. And this is even different from IBM because we're talking about again there's this accounting probe it's going on recently they're going. They came to Alec how bad is this going to be like is this a case where they messed up one quarter was there actual fraud that was going on. And at the tail risk there is it significant if it turns out to be fraud just to many unknowns. There are. Folks if you are. At or near retirement age legacy planning is something that you want to be mindful of it goes without saying that we want to leave our children in great shape if we can. Predicting our assets via home or vacation property and three a huge capital gains tax problem if the kids choose to sell the home. Tom what's key is an expert in older along taxation and he's been helping families like yours what their state planning for years let him help you too if you're beginning to think about legacy planning for your family. Call for Topps brand new guide by the way this is the first day that we are giving this guide away. Call for this guide today to gift or not to gift at 866848. 5699. Gifting assets to our children it's it has this special meaning but if the children have creditor issues or maybe they go through a divorce. They're all kinds of problems that can arise that could be disastrous. Protect yourself and your family by getting the free guide to gift or not to gift it's the first day that we're giving it away. You've worked a lifetime accumulating wealth. Now we need to spend a few hours to make sure that it stays in your family the right way call 866848. 5699. That's 8668485699. Or download the guide right now at the legal exchange showed dot com. Something to look forward to is on Sunday sanctions against Iran exports of oil are scheduled to go back into effect. And it is unclear. As to how old dale impact oil prices. Now I I I don't know what's going to happen but I can tell you we saw oil trading in the seventh I think I sought maybe 73. It's right now trading at 65. I'm seeing reports that we could see seven to five plus from on the price of oil from a guy that's. Pretty. Pretty respected in that industry yeah I just. I I've been hearing about higher priced oil for the last two months and it's not here and it could show up but I just. I've given up on trying to hurt project oil prices it's tough it's it's like trying to figure out what corns gonna sell for copper silver. It's it's just like it's it's trying to predict whether or not can be sunny tomorrow mean even you know betterment professional ones can't do like a mad noise can do it. Endorsed him he's into everything he sees me and best in the business. But this oil I just look at an hour ago I remember you know a month ago we are saying OG is oil gonna go to a hundred this month. It is an expectation of the sanctions and well when the exact opposite direction so. I just I always punt on oil related questions that is. No well I just don't like oil one of those there's very few things that you hear me say I have no idea about the oil's one of. Up next we will be joined by Adam Johnson from bullseye brief dot com. We'll have some market commentary coming up in the next. It's hard to dial a phone or send an email list to 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 as a checking and savings account that can provide a 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 Barry 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 zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great rate it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. In a deposit to opener annual percentage yield is ten dollars to put your 3% interest rate messrs. until late fees reduce earnings re subject to change without notice leader bank a step ahead member of the icy. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of -- let's -- senior partner with a -- -- of -- and -- can help time as an expert -- estate planning elder law and taxation and if -- in the process of -- -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information -- to the -- process with taxes issues may arise from a significant -- -- at home -- vacation property and what happens to the -- of the child has -- issues these are all things that -- need to consider as you begin -- planning to call 866845699. And get this free guide to gifts or not a -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website -- exchange -- 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 and believe me I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. 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 called today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 7818621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. If your money saved for retirement you're ahead of the game because a significant percentage of people nearing retirement age haven't saved anything having the money is one thing knowing when and how to take it is another Titus is very Armstrong required minimum distributions are mounts that the federal government requires you to withdraw annually from a traditional IRA or an employer sponsored plan once you reach the age of 72 and a half I take calls from clients all the time with questions about this process so I've written a brand new guide available this month called understanding required minimum distributions it'll have all the information you need to make sure that you follow the guidelines set forth by the government without incurring any penalty to guide is free and it's your by calling 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Stay on top of breaking financial news by becoming a member of the carries per game log on to financial exchange should dot com and sign up today. Adam Johnson joins us now from New York in our weekly stock picking segment he is the founder and author of bulls I've brief actionable ideas. For thoughtful investors Adam good to talk to get a little bit better the last couple days compared to when we're chat last week. White I mean I think I went back and listen to recording of of of our conversation last week. And out gosh I was just so far down all because it's been so Florida dot and the one guy. Been bullish on this market I'd still bullish. And you know it's it's very hard whenever it was you know beating it in the in the pit that you know we're coming back at this year. Well let's let's dig into that because again you you do have this bullish tilt at the moment which. I don't share and so I'm curious how do you feel like yes let's talk short term first where do you see over the next couple months. This market going is the worst over or is there still a little bit more at home. Well I think they're really eager to wait to approach that earth is short for its technical. And then the second question which I think really where you're going which is sort of innovative turncoat a few months been fundamentally. Help the economy do. I will face short term well. You know being the market again today up you know caught what what particular what feels great. I wish there had been greater panic if Bennett last week was. You know recorders in the cockpit yet 500 falling below their record date with the effort with a lot let us. But Adam really what would be there at what would be the reason for that kind of panic in the earnings are strong unemployment it's three point 7%. When he your colleagues when he year old colleagues is saying that unemployment school and out of 3% next year 3%. Exactly exactly that's why I am bullish might we just simply that all the technical guy you know who look at all the you know they crunch the numbers but that it rather lineman Kirk but all that. They have all. Unanimously made the comment that it would he panic last week. And yet you're decorate it didn't see it because the economy is doing great at what simple vote number. Americans working ever make it I'd go to Europe that have ever been spending that money that kind earning. Under the pact I pick what you really want to focus on while would be jobs report the lab work at a Pittsburgh. If not the headline number three point 7% fine that's great we although it did 49 year low for an appointment. What you really want a focus on is a week. If we get the forecast three point 1% increase in wages that's going to be right at 2008. And that is. Dumping that the stated everyone else has been looking for but it's one of the statute would you know if you break to go higher. Well are they they'll maybe you had wage growth that was in the toilet for a decade right you you know terrible wage growth. What's wrong with letting wage growth run it three and a half four and a half percent for a few years I mean let the worker catch up a little bit. They start raising rates that's gonna hurt the worker. Well tiger but if you will go back and look at the data are talking like 3030 years but I'm. There's a bankable wage price spiral that might economics professor principles and it Alan Blinder former buy up bad good guy and hit point was always. Forget about you know. Commodities forget about oil and Lou that the that the that the off people what you really want to watch it the week right by city that is one of the wage growth. You somewhere between two. And a half. Do like three point 73 point 8% do you find because you want people. It's what you start to get into the 4% area that you have a problem because at that point. Wages are going up faster than companies can raise prices that we've is hurting and that has to be the signal that any kind of bull market. What would Allen got a long way to go Adam would Alan Blinder tell you about the worker shortages you hear you we were missing. One million workers today. He would say it is the labor economist and we got to pay him more. And you know that's what apparently happened I mean I think today. Is the first stated Amazon is now listed all the workers to fifteen. Federal express three months ago effectively that it is doing. So we got a European people more money and that's quite clear. There are more job openings right now that there are people so that by definition. In there and people who leave their current job. Puerto pulled it you know you people who want work and not the idea you know. Didn't do you know content in the work there at the same app with starting at. And let's talk a little bit on that just because one of the things specifically with wages one of the data points that caught my eye in the previous jobs report was then went when we looked at the wage growth in the third quarter it was annualized to close to that 4% rate you mentioned three point 9%. Over the last three months. What happens if we get a couple more hot ones coming in late. How long does it take for things to kind of start that spiral that you mention. Well the bond market and figured out a lot fitter than. Bet you know what it really take for the Fed to take action. Is that why we haven't seen money flown into bonds this month even though you know we have we have an 11% sell off at the bottom but the thirty year treasury is still sitting there at the exact same place it was the start of the month. Yeah that's right so remember right now that the Fed Funds rate is what a quarter. And inflation is about the recorder which means the Fed Funds real rate you know inflation Gupta is there. And if you are being. That Spain to wage growth you know in this in the like Serena captive for. There is no way that you are going to beat the red. He. Rate as low that they are they will probably accelerate. And that will hear a lot of them fail Micah if we go. Does that rate in great spirits are either keep up with inflation they're playing catch up there slowing growth. At that point. I would get there I don't quite bullish on the economy quite bullish on the market but that you know there's if we spot you want people to make more you know wanna make too much. In in what where I've kind of come around to that and I'm curious if you share this sentiment. It's relatively easy to predict what masses of people are going to do week we can generally yeah we have a sense of what the overall economy's going to do from month to month. The tough part is trying to get inside Jerome Powell's head and figure out what he's going to do that's kind of it's one of the most important factors here over the next year and a half that seems. Well you know remember I George Bush you know background nine elevenths now I got a job to do that I would do that yet well. Mr. Powell I think the beta attitude you know he got a job to do if this is the guy who that what five years. As mergers and acquisitions you'll maker the type of investment bank he knows market he understands but it game. And see it very aware of this old weight right Bible and the fact that the Fed Funds rate is bill. But it inflation it at the bit the balance here but his job is to raise rates without choking off the comment that we've been been trumped up like that. You know obviously a little bit about what you want low rate of at that it you know DNA but you know how he's got a very different alienating note that it is the thing now. Very good Adam we got to let you go but thanks for joining us today. You know what I reported. Dad's always good to have a neon that is Adam Johnson from New York he is again the founder and author of bullseye brief. Those new picks that he posts they go every Sunday morning NC can sign up at bullseye Greif dot com you know chuck. If if this were a dictatorship. You be a lot easier diminished as I think the Fed is pulling the wrong lever. In what way raising rates. How come and lecture it's gonna slow things down I mean he did better forever to re have you been looking at housing that the better let me at 10% of our economy. He would as a health care is 20%. The disagree when we look at the actual new activity and stuff like I mean like a bit that housing as a sector isn't about 10%. Yep and its impact is far bigger. Aaron. The FB. Raising rates will have one impact that tell you another way you are slow things down raise taxes. Oh that's definitely very popular. Very hot at the Dow is up a 155. Points the S&P 500 is up fifteen points. The NASDAQ. Up 46 points pretty good day on Wall Street so far we have done nineteen cents a. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. That's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender. And MLS number 449250. Subject to credit approval leader bank a step ahead. Required minimum distributions are important and necessary if you were traditional IRA your employer sponsored plan when he turned seven in half its time it takes a lonely Colby Armstrong advisory group rate now at 803934001. Understanding required minimum distribution so that you're ready when your time comes there's 803934001. Or you can download the guide right now from our website Armstrong advisory dot com securities are -- series Merck incorporated number two wrestler DC advisory services are registered as American advisors incorporated Barry Armstrong represented their Armstrong advisory group the securities America companies or an affiliated as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming there's not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taken care of let's -- senior partner with a -- -- of -- and -- can help time -- an expert and a state -- elder law and taxation and if -- in the process of -- -- you need to call him right now and -- his new free guide to gifts or not a -- in -- you'll find information related to the -- process with -- issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that you'll need to consider is you begin your planning -- call 8668485699. And get this free guide to gifts or not a -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- 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 produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology to Obama called this he ran team at 781 at 6418691. That's 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. And towards the end of the year now in a few over age seventy and a half. And you have IRAs are 401 k.s are 403 B is you have to take out those required distributions before the end of the year. Otherwise you face some penalties Mike how steeped in the penalties be on our d.s that are taken out. They can be very severe so. Let's say your first year required distribution is. 5000 dollars and you fail to take that money out you can be penalized. Up to one half of what you're supposed to take out but didn't so let's say you didn't take any of your prior distribution you can be faced an IRS penalty in that case. Of 2500 dollars so it is a significant amount in in terms of you know that penalty it's not just that you face on that one year if you miss 2345. Years whose penalty numbers to add up to significant amounts of money absolutely deserve this is something that you cannot ignore folks and if you find yourself where you find a loved one in the case where they. Aided in no about it largest beef failed to take action don't ignore address it. You know identify what the issue is how much you might oh. And get on it right away it might involve writing a letter to the IRS and explaining the situation but do not ignore the required distribution payments on your retirement account. It's required minimum distributions can be a little scary but our strong advisory group has a new guide out this month titled required minimum distributions. To help answer all of your questions all you have to do to get it is call 800. 393. 4001. Or you can also downloaded for free at Armstrong advisory dot com once again that number is 800. 3934001. Or Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. And believe me I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information Massa master license number 10. 183 again the number is 781862119. No. This is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy and a half you are required to start taking withdrawals from your retirement account of course questions to arise how much -- they take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide we'll tell you how much you have to take out based on your age and it also explains an exception to the R&D rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. It's pretty hard to find a bank that has 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 hi 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%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. Minimum deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings re subject to change without notice leader bank a step ahead member of the icy. And. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day UC. Your world and stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the gray area Armstrong and chunks. It's. Talk market is rallying the Dow's up a 139. Points. Unemployment is three point 7% that's a very low rate. And wages are growing at their fastest rate since 2008. What could possibly go wrong hi everybody it's variant truck with you here. It's a Thursday morning and wage growth is great but tomorrow's the big. Tomorrow is the granddaddy once a month we get the jobs report. Yeah I mean that's the one that world really looking for and specifically is is wage growth still showing up in that report and as well. Well I'll tell you that report comes in hot. Buckle up old one has. It's going to raise expectations that you're gonna have higher rates come in and that's going to be something. That has a negative impact going full rights of rates are gonna go up we know they're grown up in December you think early on a one time should I think they can only go one time next year. I think that's up and right to tolerate. Well I'm notre I'm not the market that's the that's the problem. I think that I see that there's a weakening in housing and for some reason people don't wanna talk about well hold it. You know like when the rate of price increase slows from 5% to four point eight is at a weakening. Know the rate of price increase over the last month's slowed to zero pen wielding the ghetto that is odd that a shot themselves. But this is bidding wars for mr. this is kind of important you buy your house deep did you pay the asking price now. Under oath under my daughter bought a Condo here and half ago should pay twenty grand over the past. All I'm telling you is that month over month. Vacation or twenty city home price index and was flat for the month of August and what's wrong with. What's wrong with that is that when you look at the way that we generate economic activity in our country and it's largely through borrowing to finance buying specifically the biggest things that you can buyer house spends the next car probably yet and so if you don't how pay cash for either you know many people know if you if you don't have growth it's happening in lending and growth in the economy slows significantly. And and that's the big concern that you have and so. It's again you're not a situation where this market has priced like 2000 neater it's not priced like 2001 you know what do you expect for labor participation. More of the same 627628. Somewhere in Nassau and are the needle down I'd edges I. We've been waiting for so long for baton pain it's a combination of you continue to have more people retiring. And we continue to have this shadow labor force that doesn't come back into the workforce whether it's because of addiction additional schooling parent to what whatever it is. These people are not coming back into the labor force and that's been kind of worn out over the last five years now. You know you mentioned retirement. And you're right immunity as a country we're getting old to get 101000 people date turning 65 yeah. You know people referenced the the baby boomers are about to start to retire. What I'm seeing among our clientele. Is they retire. But then the work. Half the time that the you know the legal and they say OK I'm not there were five days a week anymore retired the other work two days a week. In their previous employers are so happy to have especially if your health care they let's say your Aaliyah nurse practitioner your nurse your doctor. Hey you know the employers understand. What would you come back and you know will will pay 70% of what used to me in a way to do quit work two days a week. Yeah I mean that as we know you Lar. We know what you are you have great institutional knowledge you know power systems work we don't have to train you we know you're gonna show up not connect him quit on his second week or something like nine out of drug addict no and in in those are. Really important things to employers notes at. It it's the classic Bill Belichick quote looked you know you can't make the team from the tub look if you're not on the field and you can't do anything employers look at the same way if you're not in the office every day that you're supposed to be there. You not contributing you've got to be able to show like showing up is really important it and a lot of people can't do it. Apple is reportedly considering a tie up with I heart media you know any details on this I mean it's in the rumor stage. I heart media is in bankruptcy. Apple is not. Yes and this apparently these talks are in a preliminary stage right now. But you know apple obviously has deep pockets and they can make all I hurt problems go away teacher could Primakov the snap their fingers and so lot of other people that wanna buy it it it seems like they're getting a little bit of activity just is that the properties they own or. Pretty significant you know you're talking best radio group in the in the country you're talking about major stations in major markets. And so even though radio doesn't have necessarily the same reach that it did in terms of you know she your audiences you know year round and you know around the clock and there are still key demographics. And other nineteen times it's not the 1930s but I'll tell you what the east still have a massive body blow your drive time is still dominated by radio yeah you might not be picking up as much at 7 PM 8 PM or 9 PM is used Newton but you still have you know DO pretty much of seven to 10 in the morning and then 47 at night that. People tend to be a predominately radio listeners on cases what do what they would do with. He it. The I heart app. Is very popular on the apple plot platform a winner there's some you know meeting in the mines to buy the company out right to them as one of the some kind of cross pollination they do somehow with apple music and try to get into that ecosystem somehow we have something they do on that is they're they're buying up all kinds of the bunch is Sam earlier this year apple yet apple did and so I'd just I think they're trying to get more stuff into that apple music. Ecosystem. Just to be ups generate more value for people that are paying that ten bucks a month. Private equity firm Bloomberg News is reporting that for private equity firm Veritas capital has teamed up with Elliott management. To bid for healthcare technology company Dina help. Dean health stock was trading at a 127. Dollars a share that news yet and Latina health you know is a company. That is based out of Massachusetts. And it when you take a look at how the stock has done over the last couple years. It's been pretty much fly you know go back is forced when he fourteen this is a company that really hasn't generated a lot of value for shareholders. It had a really explosive growth trajectory. From when it IPO and I think oaks seven Euro a pretty much the route 2013. And then it's just kind of sat there for a little bit and you know the lot of leadership issues Jonathan bush got chased out of there now and Jeff in the lot of leadership is and I think there are also. You know in with what they do specifically they are. A whole bunch of kind of back in services for hospitals the other evade Metafile records and records and you know apps for consumers and things like that. And has gotten his. Seen a lot of competition. Filtering into that space and so I think it's something where if they ever really proven that they can differentiate to the point where they can still grow and and so that's kind of weather stock has been languishing. For the last five years now. Were ten years. Passed the financial crisis of 2007. And eight. And yesterday the Federal Reserve announced one of the most significant role backs. Of bank rules since president trump took office with a proposal for looser. Capital and liquidity requirements for large US lenders. Stop me if you've heard this story before. Just not make it I mean. Look they're not talking about doing this to the biggest of the big now but they're still talking about institutions with 250 billion to 750 billion dollars and assets though. We're not talking you know local neighborhood banks were talking about banks. That were making you know some of the riskiest loans. And at a size where it doesn't cause instability in the entire economy but hey it's it's not what you wanna see. We do this though chuck if you look. And it historically we always do every fifteen to twenty years we have a ball it's you have all the people talk about a landing. Yet it's it's it's all the people that were around for the bad times. They're gone at that point and you have all these new people who say gee I'm smarter and I won't make the same mistakes they did in different this time and the problem is. We're not really any smarter than we used to be you know were still just a bunch keeps pushing buttons on the computer and fact is you know you see this happen it. Where they land to make the mistakes it changes sometimes it's housing sometimes its core you know corporate bonds it moves around. But it's always the same every event. 120 year yeah rates so we were ten years that means we should have another financial bubble sometime in the next 510 years maybe fifteen since last a missile that. Could assemble for I'll be retired. Unity in this so that'll be that'll be your issue to address we'll handle all screwed up the because I don't I have to work part time a water terrible handle will take care and wherever yeah it's no problem. A company. Advertised student loans savings of more than 20000. Dollars and that promise was deemed to be misleading I think the company was sold five. And then go run around saint refinance your student loans at us and you'll say 20000 bucks. Yeah and pretty much are they entered into an agreement with the Federal Trade Commission to was stop misrepresenting. Their refinanced products. Four people with student loans pretty much their ads as you said. They've been claimed that their products led to people saving more than 20000 dollars on average. Butts in the calculations for whatever reason the company apparently excluded student loan bar yours for whom. Refinance or resulted in longer and sometimes more expensive time lines and they initially. Oops pad oops that seems to be kind of a big mistake may be a little misleading. 33 years ago this week the soundtrack for an NBC's Miami Vice began an eleven week run at the number one spot on the billboard 200. Coming up next we're going to be doing some trivia questions about the original Miami Vice program. Business news is constantly break. And we're here to break it down and show what it means to your portfolio is the financial exchange with Barry Armstrong and chuck soda on the financial exchange radio network. This is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy to have you are required to start taking withdrawals from your retirement account of course questions to arise how much do they take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide will tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a laugh -- of -- and Dolan can help time as an expert and -- state -- elder law and taxation and if you're in the process of legacy claiming you need to call him right now and get his new free guide to gifts or not a gift in it you'll find information related to the gifting process with Texas issues may arise from a significant -- click at home or vacation property and what happens to the -- of the child has -- issues these are all things that you need to consider -- you begin your planning -- 866845699. And get this free guide to gifts or not a gift that's 8668485699. -- Dolan has over thirty years experience helping families like yours let them help you do call 8668485699. Or download the -- right now from our website -- exchange showed dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me. I've had all kinds of trouble trying to get people who can come in and do capable qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. Easy makes it easy 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 cold easy calming at 781. 86 to 1190s that 781862. 1190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. It's pretty hard to find a bank that as a 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 zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great rate it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. Minimum deposit to open and an annual percentage yield is ten dollars two points or 3% interest rate messrs. insulate these reduce earnings were subject to change without notice leader bank a step ahead member of the icy. We have part of the financial exchange in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Break here on the financial exchange radio network. Are you afraid to call a plumber because you don't know the cost easy plumbing can complete most simple residential service calls. Under 300 dollars could be a block sicker drain maybe a leaky Foster shower head or non stop running toilet it doesn't matter. You'd call easy plumbing because they can fix fast they can leave your home spotless when they leave. Call today at 781. 8621190. Or visit them online at easy plumbing and made dot com mass master license number 1018. In our trivia contest has brought you by seasons 52 they have 43 locations nationwide including two in the Boston area and one in West Palm Beach. Seasons 52 was on a mission there on a mission to provide you with a better we'd 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. You booked your holiday party today in get a special gift for all of your guests now. If you are the winner of today's tribute contest you'll get a fifty dollar gift certificate to seasons 52 Lois and select the winner. Which musician. Wrote and recorded the hit song you belong to the city for the Miami Vice soundtrack now the way you play trivia if you haven't played before. If you text us the correct answer to that question our text number is 63. 566. You must put my first name at the beginning of your text message my first name is Barry BA. Our RY. And then whatever the answer is to the trivia question of the day. Which musician wrote and recorded the hit song you belong to the city. For the Miami Vice soundtrack. And again tech's number 63566. So what about Boeing looks like they're getting the upper hand on Airbus are there really only two. Manufacturers. Of large commercial jetliners today Airbus and Boeing. There's two at the moment when you take a look at what China's doing there effectively starting at third right now that I and so they're they're trying to get wrapped up Ian. And that civilian jetliner market but it's it's they're kind of at the early stages of right now it's on and off I'd be taken a ride on them. Chinese yet. We'll Buena generally have an opportunity to for awhile so it's not really worry about it now really decision you have to make at the moment but Boeing at this point that who makes the better. Bollinger. They're largely compare apple today. The new ones at least I mean his aura goings that are historically tighter you know. Like small elderly. And just. That are built. It's there's very different mind sets in terms of how their building their planes as far as. You know what's important especially if he talked any pilots that are in a significant differences in what they try to rely on pilots actually doing their plans really different. Cockpit systems but. In general they're pretty close these days. Bone probably has a slight edge and a couple areas as far as. You know when you're talking about some of the stuff with the new engines and wings and stuff on the new planes that we will be cleaner but it's six of one half dozen of another in a lot of cases. The big thing for bowling though. Being based primarily in the US has been easier labor relations than what you do with over in Europe. Primarily France yes and beat. Boeing also was predominantly using. General Electric engines in on the 787 actually have a choice between GE and Rolls Royce engines where's Airbus is pretty much all Rolls Royce and Rolls Royce that all kinds of problems getting engine demand met this year. Wouldn't Boeing have more challenges as a relates to tariffs. They're going to be paying them where is Airbus I would think would be painless fair. But Hairston who well if Boeing used and importing because some of the when you look at even Airbus which is manufactured in France I think 40% of the components come out of the United States. It will sell a lot of the Boeing components are coming from four countries where we placed there. It really depends if they can pass those costs on in bones last earnings report their margins were consistent shown that they had the ability to pass the cost on. And so it's not a concern today it definitely is one that I think is going to linger out there as far as you know something that you should be in the back your mind the answers yes. But to this point. Bullies actually one of the companies that's been able to stand up and say yep we're we are feeling pressure from tariffs. The week has passed us on our customers that the plane was they've got a waiting list of yeah. Airbus does too but it's for whatever reason Boeing just hasn't had any issues as far as meeting you know trying to raise prices and you know be texting to see. You know with the Chinese how much longer to we see Chinese commercial jetliners. I can't remember let me take a law. I'd be ten years knows it's it's much closer than that as it. It's they have I forget the exact name yes the company is cult holed Mac. In there making the steals our technologies and its introduction is going to be in two and a half years and 20/20 one. Is that our oral our technology. It is I don't know exactly. I haven't seen any. Claims of industrial espionage on that mud it doesn't mean that they don't exist but and I've been going through and I don't see anything in there. It walks like. Megyn Kelly out and NBC but evidently there's some. Host departure litigation. Yet in in this is starting to get to the point where it's. Be it kind of is taking on a pretty ugly appearance and that. You know originally it was just okay were letting you go because of this and so forth but it seems to be getting much more personal at this point from both parties right now. And so. You know when when that happens you kind of wonder eight you know how quickly is this going to be resolved and be how many Oilers are gonna take cut out of what difference of being the resolution now. Andy do you think she comes back to work. Eleanor payment touches her. And shall take the year off supplement that. Resettle them the big question is whether or not she wants to initiative need the money you know woods is she certainly doesn't need the money at this point got a young families got a seven. You know I just I in she is I mean here's the thing she's young enough that she's not gonna have any probably. If she wants to issue to work for another twenty years you know she's in her forties so you know there's there's plenty of time for her to continue to work is just a matter whether or not she wants to. It's tough to requiring it forties and do nothing and with somebody take. If she talks someone at some point again is somewhere at some point will take a lot of these people that go through. Things like this I go back to again we. The case with Louis CK who was starting to get act now in two. Comedy club circuit despite all the stuff that you came out about him last year which was. Pretty awful stuff does it and you know the fact that he's back a year later started do shows and tells it. Neatly eventually the public moves on to whatever is next I'm not saying that's right or wrong but that's just happens Google employees not to. There walking out action they walked out about seventeen minutes. Yep we sought coming across our screens they are walking out today to protest. The company's handling of sexual misconduct. Pretty much. In a call last week. Google had you know guided that hey we had a pretty big. Sexual harassment problem in our offices. And in particular meets a pretty significant payments to people on the way out the door who had been. Accused of sexual harassment. I you surprised that this in this day and age ninety you you both Mary do you view your. Wives ever talked you about sexual harassment in the workplace in the beginning yeah I just I'm shocked that it goes on. After all the education that went on back in the eighty's and ninety's you know it's like. It's in great you don't sexually harassed her co workers our force inaugural school there's like. Eight men who work zone and not an issue not quite the same situation as most people. When we come back we'll give you a full market update will also talk about a Biotech company that just signed a giant deal with Gillie. That's next on the financial. Exchange. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of -- let's -- senior partner with a -- -- of -- -- -- can help time -- an expert -- estate planning elder law and taxation and if you're in the process of -- -- you need to call him right now and -- his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that you'll need to consider -- you begin your planning -- call 866845699. And get this free guide to gifts or not -- -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. It's pretty hard to find a bank that as a checking and savings account that can provide a 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 -- rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to -- businesses that number again is 8776917900. Or visit them online at leader bank dot com. Don't deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings would have to to change without notice leader bank a step ahead member of the icy. 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 that 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. Cold 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. 1190 at 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information Massa master license number 10183. Again the number is 781862119. No I folks it's chuck and Mike from the financial exchange we're talking about required minimum distribution for getting towards the end of the year now. In a few over age seventy and a half. And you have IRAs are 401 k.s for a three B is you have to take out those required distributions before the end of the year. Otherwise you face penalties Mike how steeped in the penalties be on our d.s that are taken out. They can be very severe so. Let's say your first year required distribution is I don't know 5000 dollars and you fail to take that money out you can be penalized. Up to one half. Of what you're supposed to take out but didn't so let's say you didn't take any of your acquired distribution you can be faced an IRS penalty in that case. Of 2500 dollars so it is a significant amount in in terms of you know that penalty it's not just that you faced on that one year if you miss 2345. Years whose penalty numbers to add up to significant amounts of money absolutely deserve this is something that you cannot ignore folks and if you find yourself where you find a loved one in the case where they. Age didn't know about it largest beef failed to take action don't ignore address it. You know identify what the issue is how much you might oh. And get on it right away it might involve writing a letter to the IRS and explaining the situation but do not ignore the required distribution payments on your retirement accounts. Required minimum distributions can be a little scary but our strong advisory group has a new guide out this month titled required minimum distributions to help answer all of your questions. All you have to do to get it is call 80393. 4001. Or you can also downloaded for free at Armstrong advisory dot com once again that number is 803934001. Or Armstrong advisory. Dot com. Securities offered to securities America incorporated members Jenrette SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American 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 button had financial exchange showed dot com. According to president trial. Trade talks are moving along nicely with China as a result you've got the Dow up 211. Points. The S&P up twenty points or take chuck. You take that risk out of the market or take terrorists with China and trade war with China yup out of the equation. I mean. That's bullish for stocks you've got Canada and Mexico take care. Europe looks like it's going to be taking care I mean this is the thing holding us back. If if you get this done. By the end of the year and it gives you all whole lot more runway next year takes away. Lot of these inflationary concerns takes away a lot of the questions you have about supply chains and hey had we generate. You know enough productivity from you know new supply chains and things like that. So if you do get that taken care. It what you may give me that runway would what do you think if you're the president. What is the most important thing you want and this deal I know why would I close the electoral properties of everything else is white noise you know it sees the intellectual property stuff that you need to go after him. President thing happens. By any new year and being present G has to be looking and it's an OK we've been get away with murder for twenty years. The weak line. Why is we have to look at it like that then. Guess he doesn't but you know you'd hope that you would hope he goes right the consequences to him pretty bad if he doesn't say yeah we have to stop stealing I mean. In less culturally that's okay in China. But I've got to believe that in China is a bad thing. What the electoral property stuff yeah been going on for the last twenty years or what why would change now. What why would you voluntarily make that what you would voluntarily I don't think they are doing it voluntarily. I think you're doing because they're saying geez this guy trump peace concerts. At this point there as a. We've been any signs of movement and you had there is a tweet that I found this morning from on any to pull up exactly who it is the column Kudlow said now let's go. Know that there is a tweet from it was from some win yet a year ago so this was from. The media spokesman for the Chinese Politburo mountain and so this was this morning at 5 away AM eastern time and and this is the exact quote US officials have been sending frequent messages both tough and soft China before G-20. US appears to be nervous and anxious about not being able to crush China's will I want to say the Chinese public is prepared for an escalation of the US trade war. We are not in a hurry. That is the message from China's media apparatus. Tampa EG in trump you know the golf together now. OK maybe they may indeed get a side deal gone now look maybe they do but all the noise that's coming out is that they're hunkering down for the long fight. Coastal we don't get something done like this meeting will be over by Sunday. Yeah I mean it again I think I'd I don't think you're gonna get something done by you next week certain what what. What would you get done like there's been no progress to this point but we go we are saying hey we're miles trying to be optimistic. I'm trying to you know I I am I am realistic and and the stock markets with me now with you. That's out of Dallas with bury them the market can be was you know I am trying to look at this from a realistic lions and I don't see a pass forward right now. I'm I'm just I'm told it like I see it. Debbie downer attacker. That's what I'm gonna start referring to Debbie downer Debbie downer too little. Skies fall maybe he's more realistic than interim credit for. That'll it was that I wouldn't change the topic and then you it was the late musician Glen Frye. Who wrote and recorded the hit song you belong to the city for the Miami Vice soundtrack. Andrew bell the winner on this question was James from Redding and James taking home a fifty dollar gift certificate. To seasons 52 with 53 locations around 43 locations nationwide including two in the Boston area and one in West Palm Beach seasons 52 was on a mission. And that mission is to provide you with a better way to eat. This seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens or go to seasons 52 dot com for menu information and reservations. It's tango therapeutics. Has cut its first major business deal since debuting last year. Collaboration. With big California drugmaker Gilead sciences incorporated now. Tangle with small. But evidently they're doing some R&D work in cancer that is catching the attention of a monster companies do. Yes of Gilead is paying. Tango about fifty million dollars upfront. And really they are working with tango specializes this new style of treating cancer called immunotherapy where tries to train the body's immune system and there's a lot of fights different kinds of cancer there's there's so much money being poured in here there's a few tech there's a few what treatments that are now on the market and are working. And you're seeing major progress being made that the issue that you have width. This type of treatment a it's really expensive right now and B it's really targeted at the genetic level and so. If you have a treatment that works for one kind of cancer using immunotherapy. It doesn't necessarily have wide you know wide ranging. Positive effects on other types of cancer or even the same cancer but caused by. Something different so YE EL I see these announcements pretty regular. Like companies taking a positions. In little tiny Biotech company yes. Many of those are in New Jersey California Massachusetts get when they do this I say to myself OK they're gonna give tangle. Fifty million bucks why don't they just invest that fifteen million in their own research and development why. Is it that these small little companies are able. To innovate and create these drugs faster than your Merck senior Pfizer's in your deal yet. I think eight it's. You're you have a lot of people who still do you kind of want to be out on their own in these areas not necessarily part of the big company they kind of get that. You know. That person just wants to be out on their own kind of in the wild west in doing something new what's more fun read if you're scientist coming out of the northeastern B you know of MIT. And you have a chance to go work percent of the or you can go work for start up and get 20% of the equity whats is the ownership that's what that is they want to a lot of these are born in universities are. But a ton of Omar and you know bureau. To be completely honest of you our company like really matter any the other major pharma companies. You sit there and say okay were kind of almost turning into venture capital firms ourselves now where. You know okay are gonna put fifty million here in twenty million here and yeah not all these a war but maybe one of them blows up and hey we've got something that the differences they can send in their scientists. To look at the technology in the research that's being done and they can help and they can provide and say okay here's someone from our team who specializes in this oh we've seen this before we the ultimate Smart money is and it is easy because they'll come in and they'll say here's fifty million. But also pierced when he millions of technology. And in even with that. They still fail an awful they do you know but it's it's how you get the reality of nations in the United States it is like. You you have some coming out of France but it's on a relative basis. When you look at it and talk about your blockbuster drugs that covenant in the US and in that's why. When you talked about you know that we always talk about the downsides of high prescription drug prices and but the benefits of medical companies doing business in the US. Is that you can innovate in ways that you can't in other countries. Now I'd still like to charge a little more power Pepsi drinks more or less. Charts of foreign countries uh oh yeah apps don't really gets hurt and like Pepsi. We do pretty common Brady of a lot of people with Pepsi and a around the globe yet and it's 50000 dollar treatment. Oh yeah and that's with discount CO in western Africa and it's a thousand bucks you know the up and and and look there's there's no doubt that you know prices are higher here than anywhere else. We'll see if you can make any progress there are not necessarily the most optimistic on that front. Folks it is pretty. But if you're in the market for one. We'll go further than leader banks Zuma rewards account qualifying customers get 1% back on Deb it's 10% back feature businesses. With no minimum balance required and no monthly fees but that's not all. Leader banks who missed savings accounts got 2.0 5% APY. And that is a great perk. For qualifying zoo but customers if you look at her great great it's time to call leader bank. At 8776917900. That's 8776917900. Minimum deposit open and earned a 2.0 3% interest rate. Mass residents await these may reduce earnings re subject to change without notice member FDIC leader bank stepped. US companies are raising prices on everything from plane tickets to paint passing on to customers higher costs. For fuel metal and food after many years of low inflation. What is that interest your McDonald's getting expensive I'd. I've been all over this all year and you're starting to see the numbers showing up here when you take a look. At you know just how much these companies are having to raise prices on I mean you consider places like dominos and and McDonald's. Kenneth staples companies in the restaurant sector right I mean obviously you know still not necessarily as cheap as eating at home mom but it's certainly. Is you know something that's easily accessible to most people you think about a lot of these companies you wonder what's causing. The inflation is that the material costs or is that the labor. It depends on the company. If you're talking about in the fast food space I think it's probably the labor now okay if you're talking about anything they tell me that fast food wages have only gone 3%. Did I say no they did that that's the national number and wages across the board rate for a fast food no cross it like. Wages of sir trucking wages are going up at a faster rate than that but fast food wage growth must be. 1015%. I where I think it's quite that high right now but next year he'll seek closer in that range but. Let me see if likened yet another sector that's begging for a automation. Right when you start having we you you know we've talked about kiosks and things like that but the increased cost by the way so McDonald's big Macs you know now four points 7% more expensive than a year ago Starbucks coffee. Talker eight point 9% more expensive than a year ago what do you pain for your. Norma woo that's sort of start a topic altogether that's just like it cut in again I get coffee don't get frock or mobile I'll write a pop pop up to you you know we're I've seen big inflation in the last few years dry cleaning. Yes. Yeah my search is gone from a dollar 95. To 265. And a four years at a coffee. Shirt. I thought it a lot of money at a copy out much and my dad claimed. It's. Is the cost of dry cleaning his skyrocket it's like I I it's almost like every year like clockwork in extra gear up 8% up 10% interest it's it's relentless. Up next are we talking about a very conservative state. Really can they be the most conservative state in the country that is about to legalize. Marijuana that's next on financial. The financial exchange. His role hurdle in England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming there's not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- and -- can help time -- an expert -- estate -- elder law and taxation and if -- in the process of legacy -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that -- need to consider as you begin your planning -- 866845699. And get this free guide to gifts or not a -- it's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. It's pretty hard to find a bank that as 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 -- all leader banks Zuma rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. Minimum deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees and reduce earnings were subject to change without notice leader bank a step ahead member of the icy. Is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy to have you are required to start taking withdrawals from your retirement account of course questions to arise how much do -- take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide will tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plan call 803934. Zeros or one where you can download it right now from my web site Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC and advisory service is offered to securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me. I've had all kinds of trouble trying to get people who can come in and do capable qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781862. 1190s that 781. 862. 1190. Or you can visit them online at easy plumbing MA dot com for more information Massa master license number 10183. Again the number is 781862119. No. Security suffered through securities America income member finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The markets are still volatile. Get our weekly monthly recap but becoming a member of berries brigade visit financial exchange showed Doug come and sign up today. When you see a state as conservative. As you saw. Putting medical marijuana on the ballot it tells you that. A lot of people across the country one medical marijuana bill. States yeah I mean you've now gotten to the point where again this is probably the least likely state for this to you know be I think in May be Kansas but you know. Yeah well there's only three states left now that do not have any type of medicinal use allowed you to actually does have some exclusions right now you you have. We go candidates in Utah but the TH C content is limited right now. This would effectively expand things pretty much but he got Idaho South Dakota. And Kansas is heard no Nebraska sorry that do not currently have. Any kind of marijuana. Legal and all those people do if you're. If your being treated by doctor in the prescribe medical marijuana they seventies and neighboring state yep is right now you're at the point I mean again this kind of just pushing from the coast you've got 12345678. Yet nine states now where it's completely legal. And you know that's only gonna continue. Suit to be the trend here what puts a lot of pressure on lawmakers doesn't. Yeah like let's say you or Jean Armando in your running Rhode Island. And you don't have recreational marijuana. But Charlie Baker's got it up in Massachusetts but all your residence is driving across the border and saying okay attacks in Massachusetts the pain Massachusetts state tax and united in anything we saw the same thing in Colorado you know the surrounding states with the talking you'd talk Arizona. You know whoever it is. Everyone's kind of sickness and Q why are we get the pieces and it's more than the you just look at the electorate. The electorate the numbers and how do you tell what is it 63% Utah people want it which pretty much matches the national average has really gets it's pretty much in line with everywhere else and so for Utah ought to be saying this. It this might be shock when we talk about you know what's the tipping point for the national legalization of marijuana. All the battle directly Utah's now CEO seeing these kinds of numbers on the polling. It's a pretty good sign that you're getting close to that tipping point. I think trucked to its happening news older people. That are in their seventies and eighties. In dealing with a new York and here in your seventies and eighties here yours subject to a lot more illnesses. And they're saying well. You know now I can go on and hopefully great day and a painkiller. Or my kids are telling me I should try camps. Yeah and indeed you're seeing this it's still would you would you tell your mom let's say your mom had. It was in a lot of pain related to a back injury year cancer just we would you ever save your mom and dad. Gee dad when you talk to a doctor about candidates as opposed to use in these chemicals that are being pushed on you by the director Ivan. On who is now in a an advertising campaign in Michigan to try to get marijuana legalized there so I got my fairways on the front lines in this pretty much. It even what's interesting is demographically we talk about you know the changes. Hey it's all that the younger generation that I don't think it is if you take a look at the Silent Generation is people warm between 1928. In 1945. Okay. If you take a look at those people. In 196915%. Of them thought that marijuana should be made legal and today it's 35%. More than doubled. I told winning to a dispensary. And walked around half the people pummeled in half the people in that dispensary were older than it. Believe it. You know it's it's in I mean when you talk but younger generations the numbers are even more amenable ideals it's 70% this according to research for pew Jim nexus sixty. 6% in the font is not good there but boom consumers are 56%. In this is data as a 27 teams from. It be very curious to see. Where this goes any sessions will be out by the end the year don't think Jeff Sessions it is the answer seems like that wavering in right now he's the that panel last man standing. Blocking it. Do you think he gets you update any reasonably that you kind of go the wave senators got a long ways away. And I don't know any of the present would be eating and drink. I don't know where you necessarily going to is anything that would happen there has to be. It says. If it's interesting to watch the Dow is up 200 in nineteen points. What do you think happens John we have to borrow idea of an unemployment report was three and a half. Yeah labor participation rate up to get wage growth. Three and a half. Get ready for sell off. Get ready for a sell off because things are too good if things are to go I'm telling you this is we are now in the good news is bad news economy. It's. They do I remember being in the bad news is good news Erica Hillary our offense got to keep rates while I don't know where that Marco go and then we we just what their two years of the good news good news you know. And now we're getting back to good news bad news. Because of the Fed yes. But if they raise rates I'd make more interest. You do but Obama dad make more might mom and dad exit or home buying dries up and and here's the thing so home if you look at the housing sector construction is 8% of the US economy when you're 20% slowdown in housing one point 6% of GDP it's gone. Oh it. I can't wait till tomorrow morning got jobs report will be listening even though it won't be here obviously wanted to show and is it says. You know the jobs report is still the biggest report even though as the economy strong it's still the biggest economic report that's tomorrow morning. To make sure you tune into the financial.