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Full Show 11-26-18

Nov 26, 2018|

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This is the financial exchange with the very Armstrong and chunks are now. Sure exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Thanksgiving is usually time that is pre occupied with conversations regarding football and faintly in grandchildren. This year however it was a Neil that was dominated with conversations about the correcting stock market hi everybody it's buried chocolate you hear it's a Monday. And I don't know about you chart but Thanksgiving dinner a lot of our conversations had to do with the economy are going into recession next year. And the stock market which entered into correction territory on Friday. Yet did in this the second time that we've now seen the S&P enter correction territory. Over the course of 2018 the first time being back in February. When you remember it was spooked by a similar inflation fears at thinking fears that the Fed was going to have to start hiking rates. At that point there was Beers turned out to not be ward did not think the big question people up now. Is hey are those same fears now Warren did given the data that we're starting to see coming out really over the last three to four months that the sport. Well it eat it in the good thing that he wrote my response to the market correction because people are asking me you know would like do should I sell my stocks and buy more stocks during this correction. Is the market indicating. That a recession is coming sometime in the next six to twelve months they that that's what I think people are trying to interpret 'cause if it is. Maybe use cell into these mini rallies like today the market's up 378 points should we be selling into that rally. I. I think it really depends on the person and on it's that the specific financial situation at that person's in because you know for someone like me. I'm 32 years old. Now I'm not selling into any rally because largely. The money that I have put away in stocks I'm not touching for thirty to forty years anyways so I'm gonna take that and in use that is an opportunity to not try to out think myself but has. It's not money that I'm using any time in the in the near future and in the reason why. Is I go back to. If you take a look back in 1987 black Monday Worrell went down 22% the day. Yeah even if you bought the day before that which not the most if not the most opportune time when we look back at it historically. But even if you bought it the worst possible time in 1987 right before black Monday. You still made about 6% a year over the next thirty year. Suited you so I look at this nice say look upon if I'm investing for thirty years from now I'm not gonna try to outsmart this market because. If you miss some of those big days that could happen if policy changes if some of these problems go away. Then you put yourself behind the eight ball. If you're someone who's buying a home in 2019 if you're someone's got college payments to make in 20/20. If you need a new car and 20/20 one. A you don't have that money put aside. In safe assets to begin with then it's something where I think you do say pay yet probably a good idea to do some judicious trimming. And make sure this portfolio isn't too aggressive for shorter term cash need. It's quote I guess but my question to use how much do you think this is related to. The forthcoming trade war with China you know the these tariffs are going into effect next year which is not very far away. I'm surprised that there hasn't been more progress made it would if there is no progress was trying to just says eight. You know we're not gonna stop stealing your intellectual property. And you know we're gonna put tariffs on American goods that are being sent to the United States were to do everything we can't combat the president. With this fight is not resolved amicable. If it's not resolved amicably and things continued down the path they've gone on throughout much of 2018 if we see a repeat of this in 2019. I think you've got real problems and if it's not the 'cause that the trade issue is the only one that matters. But it's because it creates additional issues that I don't know if the economy can handle. In in the long term they're specifically because we've got problems housing which. You know last week we had a decent housing number report for existing home sales the first one in six months that didn't show would decline c.s say okay. Maybe were starting to find you know some stability in housing but it's only one data point. But I'll tell you on the trade issue. Things appear to continue to be getting worse not better and I'll point that this is a from a great tweet that I saw by Lisa it up a Brahma pitch from. Bloomberg who put this out this morning. In October of this year okay. China imported zero oil from the United States for the first time since February of 2017. They've been importing about a million barrels a day on average. Over the previous. Really eight months nine months of the year. They imported zero oil from the United States in October and that and that pretty much is trying to dig in saying. Look you're not gonna play ball this fine we're gonna take the one commodity that you've really been ramping up production of the one place where your economy's been really humming. Better than anything else and we're gonna say. We're we're not buying any of it we just we don't want it and in in that is a statement it's being sent by China that says look you wanna play hard ball boy won't play hardball. And in what you're saying they're tucked his profound because. If you're right that means that the stock market slide is not over and that the scraped continue indefinitely. Well it in in particular if energy prices continue to stay as volatile in the downward direction as they've been in granted last week was. Kind of a messy week for trading just as volumes are all over the place just as you know half the traders aren't even in the office. But if you see energy prices in this was I warned of this couple weeks ago. If you see them fall into the forty specifically the low forties yup. Look out below on this market because the only part of the US economy that is were has really surged ahead over the last couple months has been energy investment other than that. You take a look at third quarter PO private investment. And he's been nonexistent just about anywhere but energy so. This is something that I think raises some really big questions because you've already got problems with trade you've got issues and housing and then if you have issues and energy. You've you've got real problems there heading in the nineteen in the US economy. And oils tape trading today at about 51. Yeah a little bit of stability today and I think all eyes are gonna continue to be on that OPEC meeting that's coming up in in just a couple weeks year. But you know energy use is one thing that makes me really nervous about a sustained drop in oil prices because if you get that. We saw what happened and at the end of 2015 when that happened with the of billions and in really trillions of dollars of investment coming out worldwide. And that's something that the world does not need right now because you already have growth issues that are showing up in a lot of different parts the world economy. Seeing the Dow up 367. Points right now and he. That I am trying to figure out why. It looks like if you take a look at you know the names that are up the most now look at just Amazon as an example. There are 3.3 percent today. Yeah twice as much as the overall market okay may be traders are saying hey they had a really good Black Friday and Cyber Monday looks like it's off to a good start so. I think there's a lot of retail optimism that is built in here. That the issue that I run into is a case you've got retail optimism for the next month. What happens after you know edit I think it's. If it's a pretty likely outcome that you're gonna have a really good end of year for retail and it just seems like all the cards are pointing that way because as much as oil. Low oil prices might be negative in the long term as far as investment. It's good for people when they're going Christmas shopping I mean it gives them more money in their pocket so I think you're gonna have a really good. End of the quarter for retail that's what all the numbers seem to be pointing towards. But it's I think the question that I have is okay so what what does that tell us about what's coming in nineteen. And I I continued to have questions and it's. I certainly am not some new saying hey beauty you're going into a bear market I'm not someone who's saying sell everything to them some new says look. There's questions out there and we have more of those than answers at the moment. Lot of online shopping dispute on off the TV yeah I mean the malls and epic traffic in the in the malls was declining. The surgeon on line shopping is even more than had been forecast. Yeah I mean I was sitting around on on Friday and you know I've found gifts from both my parents. Sitting on my phone and it it wasn't just on Amazon some of my shopping was there but. You know I was going around and and it was just because they said OK it's finally time for me to do some of this. And so I have gifts that are done now for both my parents not enough to leave my C to stop watching a football game. Will you do any shopping in the store this year. Scientists gloomy that it cannot talk about your food shopping I'm talking about. You know presents for your nieces nephews your wife your parents here aunts your uncles any shopping. All that what we'd do any of it. Is in the actual physical store I don't think I'm going to because that's our poll question today folks will you do any in store shopping for Christmas this year. I heard you voted signal because. I just don't see myself that I I just I don't know why I would go to the store is nothing any divine. In the store. Yes I did. A little bit I'm not doing any going forward just is heading into retail stores at the end of the year is. It's not the most terrifying thing that I can imagine but it's close I just I I don't. Like going shopping at the end of the year in stores but I've done some over the course of the year where if I see something great in May that was in a store. I might buy that just dump it in a cause for six months until the end of the year so I've done some stuff like that but I won't be going into when he stores at this point. Least if you'd be careful when you're doing your on line shopping because the prices change from website to website aging did you do any east did you Peru's when you're shopping for your folks or who did just go to one site by I'd. Went to one site and bought discuss I saw a pretty good deal that I was able to get on an item that I was looking for so. What what you'll find though it's even within certain date prices will change if you're sitting on Amazon you're sitting on Wal-Mart. They update their prices throughout the day just based on what they're seeing from other companies' pricing what they're seeing in terms of demand so prices will move even throughout the day on items that are specifically. You know there's door buster deals or anything like that. Well folks who'd invite you to participate in our poll you can visit our website financial exchange showed dot com. And it is the question of the day is will you do any in store shopping for Christmas this year friend Heather is already. Participated in she said no I do everything on line hey if more and more people. Today if I guess that a lot of it depends on the type present your buying two you know if it's something you need to. See and touch. But if you're by and a large flat screen TV I don't wanna go actually to the store. And C with a picture looks like and see how big unity is and that guy that's an item that I would buy in store. In a lot of electronics I would probably buy in stores welcome wanna lower I wanted to use them in Italy before purchase the. Yea get a sense of how they work you know it doesn't actually do what I think it's gonna do does that look out supposed to be out all those things. Our it anyway participate in the poll will take a look at your text messages as well our text number here in the studio with 63566. When we come back British talk about a company that's gonna have 2000. Job openings at north station with a company. Well that story and more coming up next on the financial exchange. Yeah breaking financial news. The financial exchange with Barry Armstrong and chuck saga on the financial exchange radio network if you're at or near retirement age legacy blending is something that you're going to want to be mindful of it goes without saying that we wanna leave our children in great shape -- -- -- but gifting RSS -- at home or vacation property can create huge capital gains tax problem at the kids choose to sell the home Todd let's -- is an expert on elder law and taxation and he's been helping families like yours with their state planning needs for years let him help you do if you're beginning to think about legacy claiming for your family. Call for drugs brand new guide to gifts or not to gift at 8668485699. Gifting assets to our children has special meaning of the children have creditor issues org go through divorce problems to arise the could be disastrous. Protect yourself and your family by getting this free guide to gifts or not to do if you worked a lifetime accumulating wealth now you should spend a few hours to make sure it stays in your family the right way call 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. Are you having problems the block sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Mass master license number 10. 183 again the number is 781. 862119. No. Hi everybody it's very Armstrong and I'm joined today by executive vice president from leader 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 but sort of a god 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 campaign Oka 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 get ATM reimbursements if you use another thing sepia. 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 to order exactly. That instill the benefit of that is that really expands their branch network yeah he's in need yen. It doesn't have to be leader bank one. If you qualify it's pretty simple yeah yet to have your direct deposit and 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. A 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 zoo book rewards account ZEUGMA. 8776917900. Security suffered through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word ferry it's a 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Always a little more fun to give out a market update to win stocks are trading in positive territory the Dallas 363. Points NASDAQ up a 105. Chuck mentioned it earlier that the price goes up a dollar at 5155. And the ten year treasuries at 307. Good news coming for the city of Boston anyway as a released to Verizon they're going to be adding 2000. Jobs at this new building that's being constructed north station. Yet you've been down now by the TD garden any point in the last year you've seen this thing going up it's now just about at its full height does at least the frame is they still a long way to go before it's done it'll be finished in early 20/20 one. But Verizon did sign a lease for about 400000 square feet of office space in this building the going to be moving. About 2000 employees there and specifically. These are going to be jobs where they've they're calling this a quote. Brain hub which indicate what efforts you know little. Floppy in terms of the sound of it but. It's it's something where they want you know research and development jobs. To be there they want those to be you know young people who are you know tech savvy that are able to innovate for Verizon that's really what they're doing there. Not gonna be related to customer service it's not gonna be related to resolving. You know tech issues or anything like that it's going to be paid they they want a community that they can try to innovate and in this is where they're gonna be putting it. In its new jobs these are not like they're transferring people from another the spot into north station these are 2000 new jobs. And they go out of their way to explain why they're coming to Boston. In Boston in the Greater Boston area we graduate about 191000. Tech degrees every year that's pretty good. Yeah and it in they just want access to those those people. And so that an F sixteen floors of this 31 story building so about half of the overall space. Is going to be going to Verizon. And I think you know for them it's another clear sign that as a dear tech center. You know I know the Boston not lost out on Amazon and you know that they've you know missed out on a couple deals here and there. But they've got some really big tech companies that are doing a lot of work your even though Amazon didn't move their second headquarters there's still a lot of their stuff fear. Weight bears got their headquarters in Boston FaceBook and Spotify have you know a whole bunch of space and Kendall Square so. Yeah you you've got some tech companies that are still looking at Boston. And even though they're not making the same investment is what they're doing in New York I think there's still is a lot of focus here just because of the young talent that comes out of universities. You know the workers and steelworkers and National Grid have been walked off the job her locked out of their jobs since July. And they're unemployment benefits are going to be expiring in January. Any word truck on a successful resolution to this if I would I keep wanting to call it a strike it's not a strike it's a lock out. National Grid is locked out their workers need steelworkers. So apparently what you have seen here. May be that early signs of a thawing between. These two groups you have I'm last Wednesday the day before Thanksgiving. Two united steelworkers officials presented the company presenting National Grid. Now with a counterproposal which is the first one that they've made since the end of June so it's been almost five months at this point since they'd put a concrete proposal out there. And National Grid had started talking that maybe bringing some of this work back to union employees. In the last month so. It seems like maybe they're getting back to talking at least in I think gave big. Part that's going to play into this big factor it's gonna play and is that the unemployment benefits for a lot of these workers expire in January. And also obviously it gets cold in January and so I think you may find. Kind of some some middle ground that can be met in order to a BO pay these workers are going to need. Wages at that point they probably do already but they're going to really need the man. And National Grid and in need experienced workers at that point. Well there's a lot of projects that want to be hooked up and they're not getting hooked up bright people at all Burres builders are constructing homes and apartment complex yet. And they did not get them hooked up so the company. Is under pressure from their vendors rate saying hey we need this natural gas hook up in the company's not capable because the skilled workers to do it. But the workers there are under pressure to your pointy you know we Yugo six months living on an unemployment check and take the top unemployment check is around 600 bucks a week. And when you're used to bring in a thousand the week 600 doesn't go there for. No exactly so it's I think you're getting to the point now where both sides said they're saying okay. This is all well and good but we need to do something just because for both sides there are reasons to get back to the table and get something done before the end of the year. In partners healthcare requiring all of their employees to get flu shot rather controversial. Position. Yeah they're requiring them all too well I get flu shots now they have now as of the last count 99%. Of their employees have been vaccinated. Or received any exemption for religious or medical reasons but. This is something that a lot of hospitals do this both partners being the biggest. Overall employer in this state 74000. Employees in the state of Massachusetts. The of that they're simply saying look. You really need to get a vaccination or you need to provide us with a really good reason why you're not going to. And so this is above that 99%. Read here's above the 94%. Of overall Massachusetts hospital workers were vaccinated last Lucy's that's according to the mass department of public helps. And I guess the reasons the valid reasons would be one religious conviction might hurt you if you're Christian scientist you probably know. You probably not gonna take Lucia yeah. And if you're dealing with health problems severe health problems the last thing you wanna do is inject yourself with the flow rate I can cure cancer patient her program something where your immune system is sort deficient. You're not going to be required to us to take that flu shot but everybody else they are going to be part and AEU is it in many ways I look at and say well that's good news you don't want your hospitals to the please Greek and contract the flu. Coming up will be joined by Michael Armstrong and having a conversation regarding these markets we've got a heck of a rally going on. And shares in General Motors were halted why were shares trading halted. In General Motors will let you know when we return to the financial. Life goes on FaceBook and followers on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the blocked sink or dream. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cult easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy calming at 781. 862. 1190s that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. 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On a home mortgage and leader bank specializes in a wide variety of purchase and refinance loans. That's some of the most competitive rates in new wing and co leader bank today 8776917900. Or. Visit leader bank dot com for more information member FDIC. Moments ago we got notice that shares in General Motors had halted in terms of their trading were up the last quote I had on the truck was 36 dollars. And 72 cents a share. And early this morning we got news that they are closing their plant in offshore law Ontario which is just outside of Toronto that's where. Bobby Orr played hockey and then we the eight bit I think we got an announcement they're having massive layoffs across the company's current. Yeah it looks like it this possible plant and and I'm I was digging around for some information. On view specifically what do produces it looks like it's a lot of high end suvs that are produced their particular. In urban suburban Cadillac Escalade those types of vehicles. And I don't know if it's because of weakness in the sales of those vehicles I don't know if it's because of the plants simply being too expensive just because. You know candidate is expensive country to do business and I remember couple years ago they signed a new labor deal here to keep this plant open. And you and I actually talked Benson look they might be able to keep it open for a little while but you know it's it's making it more expensive. And it could just be that this plant wasn't. Profitable at the prices for labor that they had there so I think there's some some questions there as far as it goes. And we're getting some additional information on pulling this from my David shepherd since Twitter feeds so apologies if this is kind of come sporadically he's a Reuters reporter. Now that covers the auto sector. Some other things that are happening here. So is the possible plant is being shut down for next year Detroit hand tramp. And I don't know how to pronounce that word assembly in Detroit is shutting down Lordstown assembly in Ohio. A couple engine plants one in Baltimore. In one in Warren Michigan are shutting down as well. And some other pieces that we're seeing here GM cutting their executive ranks in North America by 25% in take me three billion dollar charge. Related to all these actions as well this all according to David shepherds and from Reuters I'm going through and seeing what else. They are announcing here too. Generally this is going to be positive for the stock. AA big shareholders. Because they are fat company. And I think when you cut that kind of fat and you reduce your expenses like that as long as it doesn't have late correlating. Decline in revenues I would think that we'll see shares in the price in the stock rally later in the day. So this is one that. I have not seen confirmed an aim anywhere else but this is again from David shepherds and who is a Reuters the reporter. Saying that GM is scheduled to halt production of the ship be volt next year. I don't know if it's permanently or temporarily as the trim their Carolina. Well they probably will get rid of that car they're losing money on. And it's a city you know they sell them for caught 35000. And you know if maybe they probably are trying to get people to push over to the ball which is they're all electric vehicle think. I would imagine but this is still looks like this is going to be shuttered for next year it also looks like the Chevy cruise is probably on the chopping block since it is produced one of these plants. So looks like they're trying to really trim down their product lines and get themselves. In order on one hand you look at this you say okay this is not you know necessarily good news this is not what you like to see. I wrote I do like that they're being proactive about it. Instead of getting caught behind the people like they were in the run up to the financial crisis Natalia. This is the kind of move when you see an auto maker shattering three plants and two engine production facilities. It tells you they're not optimistic next year. Well they're worried about the economy in pain and we re trying to forecast with the cot with the stock market's telling us about the economy will now you know GM thinks the that this is something that adds to my level of concern that was already building if you couldn't tell over the last couple weeks ago. Long will seek bad idea and email question from a listener here that I put down your friend show. Email the city area 867. And I've been making higher rate withdrawals yearly and will continue to do so. Does this have any effect on my required minimum distributions thanks. So effectively what it's gonna do remember required distributions you start taking age seventy and a half. If you've been pulling money out in your sixties. The way the iris calculates that was required distributions is. They effectively look at what the value of your portfolio was on December 31 of the year prior. And they require you to take a percentage of that so few been pulling money out to begin with. That money that you pulled out unfortunately it doesn't give UA credit towards you are indeed it it's not something where you can say had pulled this out before so I don't need to now. But if you've been pulling that money out. It likely has kept that a higher rate from appreciating too much and so that value potentially is a little lower than if you had and so. The armed. Hey let's talk about the some devices to combat obesity. They're coming out of Boston. And one of them made a lot of sense to me it's basically. A balloon bay used swallow than they fill the balloon loan with water once it's reached your stomach and it reduces your appetite. Yeah it's it's it's kind of a fascinating approach it's it's eight less invasive option that tries to accomplish the same thing. That a stomach stapling dogs in that you know tries to simply shrink the overall availability of stomach space and say hey baby this will be something. That is you know more effective in and significantly less dangerous. Then a stomach stapling procedure but it's called the ellipse balloon and it's created by a company called a worry and technologies. It's been available overseas for a couple of years now. But they've started it was finally approved in the United States. Two BO start going through some of these tests and so forth and you know there's been there are some promising results. From this and a heck of a lot safer and had a lot cheaper. Then some of these surgical procedures obviously. Cynthia obesity rates in the country thirty I'll low. Just look at this and this 39 point 6% that's forty you know for a ten adults who. Are obese and almost 20% of children. Are obese. And it mean if you're if you're fat kid I mean I was a skinny kittens and I gained a lot of weight age is an adult. And it takes a concerted effort to lose the weight. Once you're obese and you think about all the health issues that go along with obese. It's a mean aside from smoking it's about the most dangerous thing you can. The that you can be when it comes to you know any kind of medical condition I think what I find really interesting about this is. You know for most of human history. The problem we had was too little food you know was would we just didn't have enough and now in the twentieth century now into the 21 it's a we've got all this food and we've also built a whole lot of food that isn't very good warrior. This is a very solvable problem but it takes a lot of effort. I think that when we look at stuff like these you know balloons and so forth in these different medical devices. It's good as far as hey we've we've got this problem with people today. And this is a way that we can solve with people who have gotten to the point where their obese. But really it's about starting deal with kids and saying hey we need to build good healthy eating habits because we do have too much food in the world right now at least in parts of the world. And it's about realizing hey just because it's there doesn't mean you have to eat. Sure attempting isn't causing a hero Thanksgiving. I'll tell you I've felt awful on Saturday because it's it's not just Thursday that does it for you it's then you open up the fridge on Friday morning you say. A little Turkey and some sweet potatoes and what are at a little stopping in general do that for three meals today before finally decide that this is good for me and I can't tell you you know that plane ride back from North Carolina the seat felt a little smaller than it did on the way down so it does. Little little rough. Folks if you are at or near retirement age legacy planning is something you're gonna want to be mindful of it goes without saying. That we want to leave our children in great shape if we can but gifting our asset to be at home or vacation property. Can create a huge capital gains tax problem if the kids choose to sell the home. Todd what's key is an expert on elderly on taxation. And he's been helping families like yours with their state planning needs for years. Let him help you too if you're beginning to think about legacy planning for your family. Call for tots guide to gifts or not to gift at 8668. Foray. 5699. Gifting assets to our children has a special meaning but if the children have creditors user if they go through a divorce. Problems can arise that can be disastrous. Protect yourself and your family but getting the free guide to gift or not to gift you've worked a lifetime accumulating your wealth. Now you should spend a few hours to make sure it stays in your family the right way. Call 8668. Or eight. 5699. That's 866848. 5699. Or download it right now at legal exchange show dot com. Moments ago week got information about General Motors and you're probably seeing some of that hit the the newswires as well. And it basically has to do with their trimming the fat they're they're firing at would you say 25% of their executive ranks. Attorney 5% of their executive ranks they're closing down three. Auto manufacturing plants in three and two engine production facilities of five overall facilities or go into what's called an un allocated. Schedule for 2019 meaning they don't have any production allocated to them. And those of you who were investors back in the nineties will remember. Went companies would announce things like this their stock would skyrocket you know leave because he and it's it's it's one of those terrible situations because. There's families being impacted or you're gonna have. Men and women across the country and in Canada losing their jobs because of this change that General Motors is going to. And so on one side you know there's a lot of personal damage it's going to be done as a consequence of these changes at General Motors. But on the flip side of the stock is rallying in I thought it would track on that news. Either it's just started to trade again. And now this year Europe the dollar forty at 37 dollars and 31 cents and nobody likes to make money this way. But companies have to do this General Motors is competing with. Forward they're competing with Chrysler competing with Tesla competing with Mercedes in an Internet and not to mention the Chinese so. It's it's one of the situations. It's if if they don't take this kind of action while then they end up in the same situation that Fortson and look at port means that our company is not a thing years. Yet it and I think what we're I'm gonna be really interested to see is if there are additional companies making similar moves heading into. 2019. I haven't have you seen any other auto makers or any of the big manufacturers doing something like this. No as matter of fact we've been talking about how they're having trouble finding workers you know it's so easy this. It may be an opportune time to do it from a standpoint of where the economy straight they do workers that are getting laid off a General Motors home office in the east. You know bit the problem as you lay off 2700 auto workers an awful. Where they gonna go right is not like and other auto plant that they go to these guys are trained. In the that's the one of the challenges they don't have a multitude of skills right there they're trained auto workers. They're not trained mechanics and not electricians and not the plumbers. You know they they hit a very specific skills. And that's what that's where the challenge he comes in so. It. You know again if it's good news bad news good news you capture the stocks up as stock keeps rally if you will track at all morning long. And General Motors stock now the dollar 51. The guys who lose their jobs and gals are losing their job yet he wouldn't come back. We need depth conversation regarding oil to talk about. What happened to the price of war peck who wasn't that long ago wouldn't talk about oil in the seventies. And now it's in the low fifties how cup. We'll talk about that and more when we return to the money to. Exchange it's hard to dial a phone or send an email with too dumb but it's easy to text we've got and tech sign up and running when you can tell us what you think right now by texting us at 63566. The skewered Barry and join our exclusive club this is the financial exchange radio network. The midterm elections have passed in the stock market remains unpredictable which means you should always be prepared for the future hi this is tux on if you have at least 400000 and investor -- assets I want you to join me in very Armstrong on Monday December 10 at the Tuscan kitchen in Burlington first special broadcast of the financial exchange followed by an educational lunch with the Armstrong advisory group we'll talk about the current state of the markets -- discuss strategies to help you become smarter investor you need to have at least 400000 investor by assets to attend a call now on reserve your spot at 803934001. Space is limited so call now and join the Armstrong advisory group and the voice of Boston AM six AB WRKO on Monday December 10 at Tuscan kitchen in Burlington an experience true artisan Italian cuisine and find a location near you at Tuscan brands dot com register now at 803934001. That's 8039340012. He suffered two securities America incorporated members in as the PC advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and are two companies are unaffiliated. 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 -- -- -- can help -- -- an expert -- estate -- 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 related to the -- process with Texas 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 you'll need to consider is you begin your planning -- call 866845699. And get this free guide to -- or not a -- that's 8668485699. -- -- 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 and their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices all easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today. In your plumbing problems. They're history call easy plumbing at 781. 862. 119 B at 7818621190. Or he 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. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and -- -- -- -- rent payment platform leader bank has a team of business bankers -- on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner call 8776917900. Or email BDO at leader bank dot com for more information member FDIC equal housing lender. And on top of breaking financial news by becoming a member of the carries per game blog until financial exchange does come in sign up today. You know the growth in online shopping is nothing short of where. Oracle ten years ago. There was an oddity to do your shopping on line today 58% of our listeners say they'll do some in store shopping. But 41 point 6% are saying no I'm not gonna do any in store shopping we got a number of emails on this topic as well text messages saying. Hale went to the mall but I'm never going back. You can participate in our poll by visiting our website financial exchange showed dot com and think about all the money chucked you save on paths but not drive into the. All. Whole bunch of it you know it's in any case it's not just the hassle mall like. First you got to find a parking space and you're circling around for everything you find the parking space and you got to cut someone else off to get into what is they're doing the same thing months or doesn't from various parking then you got to go inside and then he got to go find the one thing that you're looking for which is you know semi hidden behind everything else and he got to wait in line at the register that he got to finally paid like. It's. Nice no fun nothing but not for me. Let's talk about oil today you know we we it wasn't long ago when workers seventy plus per barrel and we you know many of us were complaining that prices were getting too high. What I noticed I don't know but you talker but I've noticed that prices are had bit sticky on the way down I still paid 289 it today for down a gas. So prices for gas are still hot but one has to believe that prices are gonna come down at the pump. Why higher prices dropping crude oil truck let's talk about the seven reasons. Well so I went through this list I think some of these are legitimate in terms of deal any time you have the kind of supply and demand numbers that we have right now. You wind up with price instability you have you know countries and companies pumping more oil now significantly more than they were a year ago. And demand is simply not kept up there now. I think there's questions as to why that demand hasn't kept up that's that's the fundamental issue is that every week you look can we get. You know reports coming out of Energy Information Administration. That say hey crude oil stockpiles increased by eight million increased by attending court. We haven't really seen a whole lot of draw down it's been build up of these supplies recently. And so I think that's a big reason why you're seeing this what exacerbates it look a week like last week. Quite weak there's not a whole lot of traders there's he could have these volatility spikes that happened but. All that really does you just pulling volatility from the future back into the present like it's you know really changing the fact that you still have an oversupply. Well let's talk about China though because you mentioned he's earlier that October. Was the first month in years that they haven't bought any or none month's zero now. But you've also we've we've talked to you know they're building nuclear power plants they're building solar fields faster than anybody else on the planet date I mean they are. Beard trying to develop alternative energy plans. Faster than me certainly faster than the United States but arguably faster than any place else in the globe. It be that China situation if they're consumption slows down. Or even if their rate of increase slows down that's taken a law of anticipated. Need out of the market and. It it it does it's not so much on the utility side just transportation I mean it's it's just you're not seeing his much going on there as as people are projected this year. But China saying look we're not buying any of you for oil in October. You know that means you said they're saying OK so we've got. A million barrels a days who got an extra thirty million barrels in the US that we need to figure out what to do with that some of it he could probably find other buyers for. But otherwise you sit near sand. The team we got to find out how to sell this domestically and our drivers only drive so much of Dallas cut the price to try to sell and that's that's what you see that's what you do when you have a supply get disease say. Supply glut. Is you say hey we've we've got to get this off our hands let's cut the price and that's exactly what you're seeing there were reports that I saw last week on Bloomberg. That you had. Producers in Texas that were giving discounts of anywhere from fifteen to 40%. On the futures prices in order to get oil off their books today. So that Christ that's that's we haven't seen that a long time so if that's an extraordinary if that's happening in Texas look out because that's something that suggests this is necessarily old. Hate coming up or be talking about. Bricks it. Divorce deal is negotiated at least it's negotiator with the European Union and they get it through the parliament in great Britain and. What happens if they do get it through the parliament in there apron. The divorce is far from final and we'll be talking about for exit when we return to the financial exchange. 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Or you can download the guide right now from our web site Armstrong advisory dot com securities are the securities America incorporated number two wrestler PC advisory services are registered as America advisors incorporated Barry Armstrong represented their arms from 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 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 Dolan can help time as an expert in this state claiming elder law and taxation and if you're in the process of legacy -- 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 is you begin your planning -- 8668485699. 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 -- 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 Z rent it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 7816418691781. That's. Towards the end of the year now in a few over age seventy and a half. And you have IR rays are 401 k.s are 403 B is yet 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 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 face on that one year if you miss 2345. Years those 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. A 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 member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190 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. Know the. Is very Armstrong saving for retirement is extremely important to 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 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 we'll 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 from my web site Armstrong advisory. Dot com securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's pretty hard to find a bank that has it 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 Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. In a 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 the very Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day your city. Your world stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks done us. The market is rapidly we have more than a 1% dean and. In all markets yes and he is now in the master role of more than 1%. General Motors shares are rallying more than 6% we'll explain why. And then we'll talk about divorce because it's complicated and it's really complicated if you have 2030 spouses. Hi everybody it's buried truck with you here it's a Monday morning a story about his rally some good news on Monday. They've got a broad based rally that's going on here in effectively in most sectors in the market at this point. The only ones that are down at the moment right now three sectors to sectors and sorry. Utilities and consumer staples and this is moving Buchanan back to risk on financials lead the way forward up about two and a quarter percent. Energy up about 2% consumer discretionary up 2% so companies are rather investors today saying. Pay for whatever reason we're willing to take risk today. If there's anything today that makes me necessarily feel better than I did last week I think that's it and yet it's going to be a good retail season so that's that's nice. I don't good retail season does not make a stock you know for the future. I'll tell you the nothing that would make me nervous struck were up now. One point 4% in the now and one and a half percent of us have this puppy gives away by four. He now I mean if that happens because you've got a big investment bank Morgan Stanley is telling their clients sell into any rally. It comes along and if that if if there's a lot of people taking that place which by the way I don't think is good advice that if that it is is happening. And we start giving things back in going to be watch in this market a onion. Treated like an NBA basketball game pin and on and tune in around 330 courted for. And that's where all the action's going to be in the volume this heavy. And if there's a lot of selling on heavy volume I look at that is being bearish indicator and conversely. If the buying this bullish right if there's if if you a lot of volume on the buy side. Then you say to yourself tree that's pretty good news on on media on the buy side so like we're all going to be watching this pretty darn closely in the year in the coming hours. Yet the question that I continue to have it in the with the way I'm looking acts the world economy at the moment. Is it is kind of the same way that we often talk about companies where we say we look at a company like G Ian we say. What's gonna be that impetus for kind of that next leg of growth how are you gonna turn yourself around how you gonna get yourself moving. I look at where we are in the world today and I say okay the last two years he had you know cheaper dollar that help things yet all kinds of tax reform that helped things. What's next what's going to potentially. Put a floor on oil prices what's going to improve trade what's going to take care of home prices gained for me it keeps coming back to. And the main thing that could potentially turn things I'm not saying this is a good or bad thing I'm simply saying that it exists that it is. Is if the Fed decides to pivot on strategy. Other than that I don't see a whole lot else out there with the power to change things. As far as the weakening that we're seeing it housing oil and global trade I I don't see anything out there that's a real. It'll iShares. You don't think there's a deal to be had with China. No -- I did not. An end offended I think is gonna manage itself I mean the Fed is gonna they're gonna look at the same data that we look at track and if they see. Announcer it's like we got that in General Motors coming across the board and unemployment starts to rise and GDP goes down. I think they're gonna respond accordingly and say yeah we don't need to raise rates three times next year. I think they're painted into a little bit of a corner though in debts if they don't hike they do not have international demand for treasurys and that's a that's a problem is if you don't have it internationally got to pay for domestically that slows growth further because now I'll pull money out of domestic investment. Yeah but let's talk about that why why would demand for US treasury slow I mean it's it's still a pretty big part. Right you look at EC invite German bond you can buy French Banja bias was bundle I get you to buy Canadian Indian by. Pesos not viewed by US treasuries. And to a certain extent that's still going to be the case that's not going to change with the promise that the margin because. If you issuing an additional let's say there are debt to GDP each year let's say were adding an additional 3%. Yeah in that ballpark then you've got to grow demand somehow by 3% and so. It's not that you're gonna have every one selling their dollar denominated bonds because there's no need to do that. And even during a risky situation money's probably still in a flock back to dollars but if you can't sell those extra bonds that you need to at the margin. Then you've got to sell domestically. And that means take. The ten billion dollars a previously you might a gotten from overseas now you got to get domestically comes out of the US. And that means that you don't have that money going into other investments in the US and private company. Learn let's talk about General Motors if you're just tuning in General Motors made an announcement about thirty to forty minutes ago it is such a big announcement as a matter of fact. Being halted trading in shares of GM and I haven't seen I can't remember the last time I saw it shares GM halted. But at any rate halted trading in stock was at around 36 bucks an idea when they halted trading. Because they had a major announcement in the major announcement. Was basically. Their lane often quarter of their executives. And their shattering which is 66 different plants provides North America. Three auto plants and two engine plants are being shut down by GM and I'm someone. I I own GM stocks knowing I needed as to live by the way and you know this is a company that is. Closing these plants it's not because they think that it's it's going to be and they're doing it because they think it's gonna help the cup because they wore at the they were profitable enough and I look at this and for the last two years all we've seen. From manufacturers. Is hey we need to increase capacity we need increased production. This the first large scale manufacturing plant closure I can remember and of at least two or three years. Abbie you've ever General Motors has been going through this you know under Mary bars leadership they've ever she got rid of all there European stuff there Opel and all that stuff that was a drag on earnings. This woman's. Is you know free she is a fierce competitor and she anticipates. What's gonna happen going forward. And she's doing this for the betterment of the company at least. That was my impression when we and we re read the announcement. And some of the guns thought that the stock is now more than 7% people keep piling into the stock as a result of this announcement. A what a look I I think it's the right thing to do for GM where my point is is that. When the last time we saw eight companies saying hey we wanna cut tens of thousands of manufacturing jobs and in the lake. This this potentially represented like that spurred and that's. Or or it means that it made dramatic increases in robotics and efficiencies. Well no because they're not they're not getting rid of these jobs to increase production they're getting rid of these jobs shutter these plants like shut those plans but they can shift the production that they're streamlining much like four great sport getting out of the sedan business. Shabby you should anticipate probably get rid of the few models you set to reduce the ship people but that's. That's that not like that was a small solid victories it seems like yelling at thirty I'm here I'm. Pulling up the it is there's a Reuters reporters been all over this that I'm just trying to pull up again just as I had and David shepherds and from Reuters. The plants that are being shuttered it looks like the volts. The crews they're six models that are being shuttered completely as a result of this. It's the volts the crews I'm looking for the other ones are just kind general Walters just to the ball is just a cruise with a battery. That is the same chassis yum I'm walking through and seeing what else they are getting rid of and I am I'm trying to pull the full list here at this point. But yeah I mean you've got actually and you would see this looks like the closing down. The Lordstown plant in Ohio as well. As a result of this here. That's a plant by the way that has been there for fifty years. So the lake. This some fairly significant stuff and that offshore facilities and for at least forty prop fifty year. That's a loss for Canadians I think this is the right move forward GM my I don't disagree with that. But this feels kind of like a canary in the coal mine moment where he Sydney saying we haven't seen anything like this from manufacturers and 23 years like you. It has that feel. So is a different time it is it's. In ought to transportation needs are changing dramatically as well you know the I think the volt when they came out with that that was kind of a stop gap. And there are ways to being built electric cars but now they have a bolt of all on the market. And so that that doesn't surprise me so you don't think this is a broader signal at all no idea I I'd look at this as just being good management. On the part of Mary Barr and and expect at a mean every. Conflict with the Betty it's you look at the stock price of the stock rally. Stocks up 7%. That that. Bolsters the theory that. Things are good. They're just trying to be even better and they're cut the fat they're under a lot of pressure you know from some of the private certainly Eddie I Torvalds a big truck that he's. Breathing down next to cut fat. Coming up we are going to be talking about bricks it divorce under any circumstance is complicated. And Great Britain. Well they seemingly reached a deal with the European Union that Ken Teresa mace sell it to her parliament that's what our top were talking about in the next segment. The financial street. Business news is constantly break. And we're here to break it down and show what it means to your portfolio gives the financial exchange with Barry Armstrong in jobs ought to on the financial exchange radio network. 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 went 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 seventy and a half a 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 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. Juries are with the securities America incorporated members in SA BC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American 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 -- -- of -- -- Dolan can help time -- an expert and estate planning 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 -- in it you'll find information relayed to the gifting process what Texas issues may arise from a significant -- click at home -- vacation property and what happens to the -- of the child has -- issues these are all things that you'll need to consider is you begin your planning some call 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 legally 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 and believe me. I've had all kinds of trouble trying to get people who can come in and do you 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 Palmer. 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 781. Eat six to. 1190s that 7818621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. It's pretty hard to find a bank that has checking and savings account that can provide a decent return and if you're in the market for one I've got to deal -- 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 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 sigma businesses that number again is 8776917900. Or visit them online at -- bank dot com. No deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduced earnings re 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. Started to extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. We played trivia every day at this time and this is your opportunity to win a fifty dollar gift certificate to seasons fifty. Too it's a fabulous restaurant I really enjoy it. And I think you will as well. The way you play trivia he's you text the correct answer. 263566. But yet put my first name. At the beginning of your Texan that message in my first name is Barry B a RRY. And then the correct answer to this rather difficult question. Which is actually based on Jack the report we can have a conversation about that as well. The late Robert Louis Stevenson author of literary. Classics such as Treasure Island and doctor Jacqueline mr. Hyde was born a 160 years ago this month. We will be asking trivia questions about Stevenson and a few of his well known stories. What were the first names of the characters doctor Jekyll and mr. Hyde now you have to have a good memory and it'll be answered that question. 63566. Is our text number. And those of you who know the correct answer we'll have a chance to win. That fifty dollar gift certificate. From seasons 52 remember the text numbers 63566. My first name at the beginning of your text message. What were the first names of the characters doctor Jekyll and mr. Hyde he know you Robert Louis Stevenson wrote that book. Chuck after the Jack the Ripper. Murders in London outside London didn't know that actually. In the the theory he is on Jack the Ripper. Was that it was maybe a doctor or somebody you like somebody quite educated in they're killing mr. Decker was killing. Prostitutes via in white church and this book was written. Z he's the author never stated that the it was very similar. The setting to hold Jack the corporate and cut Jack the Jack harper when whose grave without being found out. Didn't know that SC learned something new every day here splash off if that's that's the that's the fun. 63566. Is our tech's number let's talk about bricks because last night I got the you know the the million emails and text message saying the exit deals negotiated while not real I mean maybe be European Union. As. Explained what they're going to accept. I think what is fifty billion dollars that the UK has to pay the European Union. But then Teresa may have to go back and try to sell this to parliament and I don't think she's going to be the do. Yes that's that's where a lot of the questions lie according to people who were more more plugged in the British politics than I am simply because I just I I don't have the time in a resource to dig into what every constituency. In the UK is looking for but the sense that I get is look Teresa may negotiate the best Briggs deal they can get approved by the EU. The problem as I understand it is that it doesn't really contain much that the pro brags people want to do that it's not a hardened offline. But it also isn't necessarily a soft and offline for the people who wanted to remain and so. It's a compromise it's in the middle that might end up satisfying no one when it's all said and done here. And so I think that the question becomes. Can she get this approved back in the UK which I believe that vote is scheduled to happen by December 11. So there's about two weeks. Foreign this negotiation internally inside the the UK to it to go on here. And the one really knows if anything's gonna get done I think. You know there's there's real questions as to whether or not this deal is going to get through I have no special insight as to whether or not it will 88. Did difficulty chuck is it can still allows for open borders meaning that somebody in France can just jump on the train and and go to London. And unity is still open borders and that was a large. Part of the reason for the vote for Brooks if they wanted to close their borders it much the way the United States is trying to close their borders with Mexico. Right so if you're someone who voted in favor of breaks it because he said look I don't want open borders with the rest of the continent. And now you're saying okay sort of except with a fifty dollar bill we have some additional trade things that we still need to work out. And we still have open borders use their sand that's that's really what I voted for great. Exactly yeah I think that's a tough thing to. Vote in favor of and then even if you get it through parliament. That you have to negotiate new trade T treaties with all those were in country and that's the thing. All this does is this just says yes we wanna committed maintaining close trade relations doesn't spell out what those are going to be. You know you know sites if it's I here here is my opinion and and have been pretty consistent on this since the beginning. They have to go ahead with brakes that even if it is miserable and it doesn't work and it it blows the whole thing up in their face they have to go ahead with the because otherwise your effectively casting aside the will of the voters. And that just makes the populist sentiment that's been building even worse because now it's not just that you feel like you're elected leaders are listening to you. Now you're seeing that they actually are not listening to you they're disregarding what you say. And so. I'm of the opinion. Yup probably going to be painful yup probably not gonna go very well but you better brags that and you better you know. Respect the will of voters otherwise things are gonna get worse down the row. So you don't think there's a second referendum. Europe revisiting of the whole thing well here's the problem that I come to on this so let's say there's a second referendum and they vote Tuesday yeah. What do we do best out of three. Things as rock paper scissor like I just I feel like it is. It's incredibly disrespectful to the voters who you know voted on this to say hey your vote doesn't matter and look I'm so what are we. Do you make it sound like that's never happened before that happens every election I mean. You know the thing about all the congressman you voted for all the senators who voted for the presidency you voted for have been doing this a long time. And they are all liars what all that notable do. They said that it did there's a key difference. Cut. In those instances you're voting for a person in office. In this your voting for specific action to be taken and I think that it's one thing when you vote for person they go and do something different because say well would it okay you justified you find a way to. In this case you voted for a specific. Action you're voting for Teresa may because Teresa may wasn't put in by of coaches put in by ticket by Conservative Party who beat a picture as their leader. But you voted to leave and I'm someone who is again I am not someone who wants to see brags. I'm someone who thought that the UK should have stayed in the EU fully. You know I also respect the fact that hey if they've voted to leave. You better darn well leave because otherwise you know bigger problem on your hands internally in the country. Think the people when their voting truck they understood with their voting for doesn't matter easily beat voted yet we wanna have wrecks it but. Oh I didn't know that it means that mighty. Children and grandchildren are gonna lose their jobs and I know that the pound was gonna down in value to note that meant that hole was gunned down I mean. If they. Let's face it I mean a date that. Bre exit poll was largely done on emotion and it was largely anti immigrant would have that was that those are the driving forces what voting most of his anti immigrant. Voting human history hasn't been based on emotion. You know who actually sits down the night before an election with a complicated spreadsheet says gee this is going to be the best for us nor does he talk to your friends and say yeah we hate that guy because he's awful we like that guy can he's. That's how people vote it's it's all emotion and I think it went when you simply pass that aside and say. And who you voted for this but we didn't think you were well informed we didn't think he knew what was going on. It's you you're disrespecting voters to the point where you start like this is why you have populism is is because it was happening behind the scenes when you put it out front like this. I think it creates an awful lot of problems if they don't go through with the. Lot of money was made on bitcoin even more money is being lost when we come back or talk to you about that point its current pricing. What does the future hold for crypto currency that's next. 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 public -- senior partner with a -- -- of -- and -- can help time as an expert and a state claiming elder law and taxation and if you're 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 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 you need to consider is you begin your planning -- 8668485699. And get this free guide to gifts or not a -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let -- help you do call 8668485699. Or download the -- right now from our website -- exchange -- dot com. It's pretty hard to find a bank that -- 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 two point 05%. Annual percentage yield if you're searching for great great it's time to call leader bank at 8776917900. In addition you'll receive 83 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 to 23% interest rate messrs. insulate these reduced earnings re subject to change without notice leader back a step ahead member of the icy. Are you having problems the block sink or drain. What a leaky boss or shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me I've that all kinds of trouble trying to get people who can come in and do capable. Qualified war I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 119781. 8621190. Or he can visit them on line at easy coming MA dot com for more information Massa master license number 10183. Again the number is 781862119. No folks it's chuck and Mike from the financial exchange we're talking about required minimum distributions were getting towards the end of the year now. In a few over age seventy and a half. India have IRAs are 401 k.s are for a three b.s 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. There 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 wire distribution you can be phased in 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 those 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. A 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 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 member finreg SIPC and advisory services are for their securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you missed any part of today's show not too worried good financial exchange showed dot com and click to listen. Then click on demand and catch up on every segment. You'll also find podcasts of all of our full show us just punch up that listen button had financial exchange showed dot com. In Robert Louis Stevenson's. Novella tighter titled the strange case of doctor Jekyll and mr. Hyde thing. Lawyer from London named Gabriel John Patterson investigate strange occurrences between his old friend. Doctor Henrik jackal and the evil at work hi we have a winner. When did the winner is Sheila from Woburn Sheila is taking home a fifty dollar gift certificate seasons 52 and with 43 locations nationwide including two in the Boston area and one West Palm Beach. Seasons 52 was on a mission and that mission is to provide you with a better way to eat his seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens or. Go to seasons 52 dot com for menu information and reservations and you can book holiday party today you'll see the special gift for all your work. You know earlier this year we saw a tremendous. Rally and a lot of interest in it had to be I don't know February march April I mean it was a bit clean it was this time last year actually. Yeah but he didn't at a peak in the spring in the no no December. Wasn't younger 100% it's. Are we you had nobody at any rate AD the I think we did is good job as we put a warning people against bit. Point I didn't buy any big point because I didn't understand I didn't understand the purpose behind it. And when I don't understand something I don't buy it and that's hurt me in some cases. But it turns out it bit Coleen. Well I'd I'm not gonna call it scam. Is still trading for what 3900. Dollar 900 dollars about. 3500 now actually. At this point and so it is off almost 50% in the last month now. And actually since early September it's off north of 50%. But the problem is that's you don't need big point for anything there's nothing went a give me an example. If you wake up and you're hungry. Do you need eggs. You get out serial. Indeed oatmeal now you can have bacon. There's plenty of options bitcoin is the same problem. Bitcoin. Is eggs you can't have it but you don't need him because of that there's no guarantee the price isn't going to wobble tremendously because you don't need it for anything. On the other side of things. If you go to pay your taxes okay. You need dollars. The IRS doesn't accept pegs the iris doesn't accept bake in the iris except dollars you need dollars in that Jackson Dick calling in now backing by the tax authority. Gives the dollar demand because you have to at some point. Have dollars you could trade if you wanna gold and silver and all these other things but at some point you gotta come back to dollars coin doesn't have that and and to be honest I think that with with crypto currencies. I think looking at just in terms of prices. It's. It is and how much is it down it's down it's gotta be down more than 80% since its peak itself more than 80%. So if it's off 80%. There are people that bought it at 20000 dollars. Mortgaged their houses put out ever talk about people were putting big corn on their credit cards bear by its. So here's the worst story that I've come across to this point okay. Have someone who I know someone who bought bitcoin pretty close to the high okay. I'm sorry they they bought it or they sold pretty close to the high. And so they ended up with it was a significant capitol gained they owed somewhere around 151000 dollars in capital gains taxes. Estate they sold pretty much all but they said look I'm getting. So they sold all incurred huge capital gain. When prices started falling they said OK I'm going to quote diversify into all these other points are they getting all these other ones too. With a promise prices on them just all. Plummeted as well. They've now ended up in the position in this is the last the last time I talked denies the couple months ago before filing taxes. Because of how far things had fallen. They have lost so much money that they don't have enough left to pay the tax bill. That they incurred last year. Oh on their 27 team return yes and so for they they don't have enough money to pay that 151000 dollars in capital gains that they owe. In capital gains tax. And it's it's just a mess all telling him and you know there's an awful lot of people that I'm sure in that exact same situation because they sit OGL. Also diversify and all these other points in the promised. None of these have any value like it got to the point last year where. I mean remember there's a company called Long Island iced tea that renamed itself Long Island block chain in the stock went up 800% in the day. That doesn't happen to good normal companies that happens to scams. Well at any rate to. The. Bloom is off the rose evidently as it relates to crypt of currencies and if you think the losses have been bad on that point you should see the other court poker those trucks reference it's badly the gains some of them these losses are in excess of nine. 95%. So. He's a tough story to have to explain your spouse note not good. Mortgage rates sliding the fastest in four years is it enough to help the housing market. Woolsey you know this this is something we were off now in terms of mortgage rates thirty year national fixed mortgage average was four point 81% last week Dow owned. About an eighth of a partner and ease that any of a percent. Since the prior week so you know you see new a pullback in mortgage rates. It's a quiet enough time there aren't a ton of homes that are being bought November and December you know it's it's not a particularly booming market. What I'm gonna be really interested to see is what happens January February march is the spring home buying season. The last few years it really pushed forward into those monsters because. People were saying paper prices are good I could sell you know earlier in get out sooner. And Seattle whole lot of transactions happening in January February and march I'm gonna be really interest to see what happens after the holidays his. I think the data over the next month. It's it's won't be enough that I don't think you get can gain a ton of insight into it. Bloody day in a lot of demand could be lucky if you look at the you know the generate the prime home buying generation's call it. I don't know maybe it's 27 to 37 for the first time homes up. There's so many of them. It's a very large universe and most of them trucks still do not hold hold your skiers eat you look around. At ten guys that you went to college with and Tucker does does the same thing to a sampling. Very few still hole. Yeah I I agree but that's it here's what I Wear a continue to stand on this that's a long term trend and it's a long term issue. Interest rates are short term trend you know we've we've seen in the last year and a half rates went up one and a half percent that makes housing 15% more expensive. Doesn't matter how many people want to buy a house and prices go up 15%. You stock. You know that that's that's where I stand I I don't disagree with you that in the long term I think housing is gonna do just fine. But stuff like this in the matter how many people want a buyer at mortgage rates stay high. You know it's it's it's going to be a challenge for people to buy at these prices that means prices come down and that means there's less activity and and that's kind of what we're seeing in house. Here's some us trouble it's neat troubling statistic. More than 80%. Of borrowers who refinance their house struck in the third quarter twenty team chose to cash out option. Withdrawing fourteen point six billion dollars in there equity we're taught us they tell me they have again. I I was just gonna say it means we have seen this story before it never and I mean never with a capital and in well I meet people are in you know what's really absurd. Is people are catching up in a three point 6% mortgage but they're so desperate for money to pay off credit cards and car loans and student loans. They're going from three point 6% mortgage to a five points were rate is in the midst of its again no no this is worse it is worse. It is worse what our behavior today. This is worse than what we're doing in 2007 because then at least interest rates were going. And in the everything you got to remember on a lot of those equity lines in the rates flow so if in if mortgage rates continue to go up. Those equity line rates are probably going up to it to it depends if it's a home equity loan or line of credit but you can have those rates continue to adjust up as well. You know nature could. Pick coming up where are we talking about wedding season evidently this is the time a year. Where a lot of young people get engaged. What are the financial obligations how much does a wedding cost well we'll talk about that when we return to the financial exchange. The financial exchange. All of ordering and 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. The midterm elections have passed in the stock market remains unpredictable which means you should always be prepared for the future hi this is trucks on if you have at least 400000 and investor -- assets I want you to join me and Barry Armstrong on Monday December 10 at the Tuscan kitchen in Burlington for special broadcast of the financial exchange followed by an educational lunch with the Armstrong advisory group we'll talk about the current state of the markets and discuss strategies to help you become a smarter investor you need to have at least 400000 invest double assets to attend a -- now on reserve your spot at 803934001. Space is limited so call now enjoying the Armstrong advisory group and the voice of Boston AM 680 WRKO on Monday December 10 at Tuscan kitchen in Burlington -- experience true artisan Italian cuisine and find the location near you at Tuscan brands dot com register now what 803934001. That's 8039340012. He suffered to securities America incorporated members in as the PC advisory services with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and our two companies are unaffiliated. If you're at or near retirement age legacy planning is something that you're going to want to be mindful of that goes without saying that we wanna leave our children in great shape for camp but gifting RSS beat at home or vacation property can create huge capital gains tax problem and the kids choose to sell the home Todd let's keep is an expert on elder law and taxation and he's been helping families like yours with their state planning needs for years let him help you do if you're beginning to think about legacy claiming for your family. Call for drugs brand new guide to discs or not to gift at 8668485699. Gifting assets to our children has special meaning but if the children have creditor issues or go through divorce problems to arise the could be disastrous. Protect yourself and your family by getting this free guide to gifts or not to do if you worked a lifetime accumulating wealth now you should spend a few hours to make sure it stays in your family the right way call 8668485699. And that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. This is very Armstrong saving for retirement is extremely important to 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 to like 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 at its worst for free by calling 803934001. -- guide we'll 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 the securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities market companies are unaffiliated are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing and 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 781862. 119 B that 781. 862. 1190. Or he can visit them online at easy plumbing MA dot com for more information Massa master license number 10183. Again the number is 781862119. No. Security suffered two securities America Inca members finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated the markets are still lol lol yeah. Get our weekly monthly recap about becoming a member of batteries brigade music financial exchange showed dot com and sign up today. According to tradition the bride's famously is responsible for covering the majority of wedding costs the grooms parents. Traditionally. A port a rehearsal dinner is that still how those gentlemen I a long time since I got married. No ours ours was kinda split between at least I mean in our situation it was split between us. My parents and my wife's parents not the night not equally but it was a couple of. If five Louie writes on our Tex lines I've got a son getting married in June the wedding cost is 50000. Dollar people smoke nothing extravagant either. Bride's parents are kicking in 25 grand and were putting in twenty acre so. It sounds like the old days are exactly that the old days that the costs associate average wedding cost just 33000 bucks. It's not cheap. Median cost is around 151000. Dollars. On average millennial that would be you guys. Are paying for roughly 40% of their wedding this according to wedding wire. And parents and family members are contributing to me and the remaining 60%. The terms think of how wars and the shaking up that sounds about right in my case. It's it's it's short what I'm shocked is how much people spend what it says few hours very believe that from start to finish my peace separate hours. Lot of I Apple's I'm still convinced that this day that the the second that you tell wedding vendors that you're having a wedding and not just a party they immediately double or triple the price. Yeah no doubt it suggested they'd they know that they have view and they sing those things in and they don't let go until every last drop of your money is in there it's you know I I've noticed that. The number of calls that I received robo calls and really unwanted phone calls on myself and chuck are increasing I'm getting probably one or two day. That are unwanted. Robo calls or just scam calls. Gee do you get the ones that are from almost year exact phone number was there with like a couple digits different. Yes yeah I've got a number of I actually got one from my phone number I know I was I was called myself though would you decide. I hated it if it's mine bought it means is anything being done it to stop us. So you do have. It is apparently. A little bit of progress being made in the senate. To try to sponsor a bill to make easier for the FCC. To Levy fines against companies making unwanted robo calls. But the part of the problem is. It's really difficult to figure out where some of these are coming from just because there's so many different ways to hide in manipulate phone numbers as you said you've got a call from your own number. Not really possible so you know you you've got all these issues that are out there. And so. Especially with all these Internet based systems that you can hide these kinds of things its its really difficult to try to crack down on a look. I am 100% sure that if if threatened with their business phone companies to figure out a way to get rid of these two more. I am no doubt that they could. But it has not yet been threatened and that's that's the problem is. You and make money on the day they make money on the call they do they do so. Eight next Monday where or go to big event right. It's not next Monday actually it's two Mondays from now so to hit yet this is this going to be a pretty fun one we're gonna be up up it the Tuscan kitchen in Burlington Massachusetts on Monday December 10. And pretty much what we're going to be looking at is. A full vent where we do a full broadcast of the financial exchange live at the Tuscan kitchen and Burlington. And then we're gonna have a educational lunch with the Armstrong advisory group after. What the heck are we going to be talking about well actually we're going to be talking about strategies to help you become a smarter investor so you can save more money. How to plan for retirement and also how to protect your assets from the high cost of nursing homes. If you have 400000 or more an investor blast sets. I want you to join us at this event at the Tuscan kitchen in Burlington. On December 10 we do these events on a quarterly basis so I know that some of you probably taken part before so you know the drill. But all you have to do to reserve your spot is called right now 80393. 4001. We do have limited space so make sure you call to data reserve that spot it's on Monday December 10. At the Tuscan kitchen in Burlington it's a live broadcast followed by a launch. In the number to call its 803934001. That's 800. 393. 4001. The Tuscan kitchen where you can experienced true artisan Italian cuisine. And find a location near you a Tuscan brands dot com. Married let's talk a boat to let's take a look at the market mean to order my fears was that we're gonna get a rally and people were gonna sell into that rally. And that's actually starting to happen the Dow's now Leah 269. Point two Europe almost 400 points earlier in trading or. Yes he got a little bit of the give back it's happening right now why if it's not something that fills me with a ton of confidence given the way that this market is giving back gains over the last couple weeks. So we'll see if this one can hold up over the course of the afternoon. I think that what's what's interesting that you're seeing is that rates have come down a little bit. But it doesn't appear remaking much of a difference here it's almost as if the market saying paid damages kind of done based on you know where rates have been over the last few months now. These guys are both big golfers that you did you watcher did you try to watch that golf match on Friday between Tiger Woods and Phil Mickelson I did not actually it was busy. I've freak you guys who feel that I was originally planning on doing so but just something came up we wouldn't avail the watch it anyway. Well actually what happened was they they had troubles with the stream and so what they did is they opened the stream up for free to people. And now the can be giving refunds to people who actually paid for it so it was a pay per view events that turned out to cost nothing. Two groups how to make money to speak to sponsors out I'll tell you what this is a really add to look for AT&T and Bleacher Report. Is it ever it's like you guys had one job in your job was to make sure that people can pay for this. And you couldn't do that. Point boxer had. You know so. IE it. It's it's not a good look for them and I'll tell you this much I'm sure knowing how competitive tiger and Phil Mickelson are. My guess is that they're probably not going to look in bleacher report's direction again next time that one of these opportunities comes up. If because everybody was talking about it anybody in the golf community they would they were all over this in a war you know if you're a golfer. He had chance to watch just these two guys play gulf. It's a good opportunity and people were dined at this yet there are more than happy to pay twenty bucks and AT&T and Bleacher Report just. Kind of blew it. Lately and age race day. Amazon's happened trouble with their workers in Europe you know leave dipping. We're unions in the United States have been neutered. Tea in Europe they're very strong. And these I've I've warned about this in the past Amazon's biggest challenge going forward is going to be their personnel dealing with labor. Yet they've had problems in Europe with the unions for awhile now but they'd workers in Germany Spain and France walking off the job fulfillment centers on Black Friday. And pretty much they said hey you know this job. Kinda sucks and you're not paying us enough for him I don't know that necessarily wrong. Well you know in the differences we're not used to that here in the United States because thirty years ago. You know the unions became a lot less powerful. Today in Europe and in Canada for that it's it's a you know cuts both ways one of the reasons. That our Schwab GM plant shutting down I'm sure. It's a high cost of labor to Scioscia with the labor unions. They the markets open it's up right now the Dow was up 279 points Howell finished I don't know what will sure talk about it tomorrow morning right here. It looks.