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Full Show 11-28-18

Nov 28, 2018|

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This is the financial exchange with the very Armstrong and sharks are. You are exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chunks. The volatility continues on Wall Street today it's to the upside the Dow lost a 156. Points. Why is the market up. Well maybe the second estimate of GDP will talk about it it certainly is a new home sales which just came out and work quite disappointing. And they and the thing that's really lying in the background could rarely spark a rally next week. Is the G-20 hi everybody it's variant truck with you here it is a Wednesday morning we're glad to have you port. Chuck GDP second estimate three and a half percent. OK I kind of knew that didn't. Yeah pretty much in line with expectations I don't think we learned. Really anything new based on this it wasn't you know we didn't sometimes with these revisions on GDP. You know they might revised by a quarter percent a third of a percent. It was pretty much the exact same as it was. Yourselves and didn't really glean anything news. I really haven't had a chance to look at the that underlying data new home sales but the headline numbers horrible. I mean it down eight point 9% annualized rate of 544000. I mean that's. There have to look at the details to note that that is a really bad number new home sales laying NA. Well and in what's interesting is we have seen for existing home sales reciprocated came in last week. Little bit better than expected you know. And then you see this number and you sit there and say OK did people to buy existing homes instead a new ones because the new home sales numbers. The projections were for things to kind of get back on track here but now what we've seen in the last. Couple months now. It has really just been a slowdown in any kind of of housing sales overall even with the decent numbers that we saw this month. From existing home sales it's just what we're just not moving the way that we want to be there. It in in that's going to be a problem lay gets and I can't put any more clearly at this point. Housing is an issue now. It's it's gotten to the point now we've we've said we need enough data to be able to say you conclusively what's going on. Now we've got six months of data now that shows that housing not melting down. When it's not good. Well it and the problem is McCain existing home sales are one and it's great eagle you buy your new home and you're gonna re decorate it and he that you do a few things are news knowing what you buy pillows and drapes in no yea you yet but that they're the real money. Right in is in duhalde's because that on every new home you just us that I read was at least fifteen people work on a new house raided new single family home. And have fifteen different guys that are in the air or gals that are in their swing and hammer working as an electrician or plumber doing something right. Wing when your new home sales numbers are declining. And he still have a shortage of inventory write inventory levels are still Lowe's I understand. Yet what inventory levels have been climbing for the last three months now so that the two previous months we've seen climbing inventories but decreasing home sales. Last month we saw increasing home sales but inventories were still going up as well also. It's the year at the point now where the amount of inventory that's out there it's still low by historical norms. But it's nowhere near his lowest it's been over the last couple years. Now now you know so those are two factors you've got GDP. Which isn't a big market mover housing. I would think that number would be pulling the stock market down and actually has the last few minutes of markets calmed down forty points the Dow up 126 point. But I'll tell you the the the real wild card is as we head into the G-20 meeting. Is really what happens over dinner on Saturday night when president Sheehan Donald Trump have diverted and it that's from what I can see. I think a lot of people a lot of investors are banking on a positive outcome from that meeting. I agree that I think people are banking on it. I don't know why they are. Yet to fully. If have you read his book Donald Trump's book I know part of the deal no. It's all about you know you go in there with guns blazing great yeah you really people law. You asked for the world you you you paint this disastrous. Scenario you're not gonna negotiate. Then you get in there and you negotiate and I think a lot of people have read his book now the Chinese are certainly. But there there's part of me. That says hey maybe this maybe something happens I know your skeptical. About it. But China's suffering and ancient China's economy. Is really taken it in with their stock market down 30% this year. Yeah I mean it give the Chinese stock market is way down you've got just about any economic data there that doesn't come from the Chinese Government is showing all kinds of slowdowns as well. I saw one number yesterday that showed huge divergence between what the Chinese Government reported for exports and what purchasing managers actually our reporting for export so it's. You know you you're seeing a huge slow down there there's there's no doubt about it. I don't think it matters that's the point that I trying to make is well. Tell me why the ability go deeper than I mean he you're the president of China. Your people are unhappy or that your your population is saying hey we wanna work we want higher wages we want a better standard of living. What isn't that why why does not matter. What doesn't matter for a couple reasons number one the president of China doesn't quite work the same ways the president of the United States in net. The president of China now has power for life based on what the Chinese Government gave him last year so he doesn't need to worry about ever being voted out of office. Number two as far as within China. There's an awful lot of controls on what people can and can't do and so. The re course at least at this point for Chinese citizens to be able to go and protest and and change things in any meaningful way. You don't really have those options available to you so. I agree with you that what's going on right now is bad for China. I agree it's bad for the Chinese people I agree that it's something that's not really sustainable in the long run. What I also believe in the power of Internet and by that I mean I can say hey all of that exist and it still doesn't matter. You know that's kind of where I am at this point so I don't see any impetus for China to bend on anything because. They we need to. Cut slow news also voicing skepticism. You know that that could be a function of what he's being told to do to that could be. You know trump saying to cut away. Teller but it can make a deal and then we're make it deal because we need to. In 88 to attack the tariffs are going to be unpopular in the united way. We would you agree. Will they already are I mean if if you're looking at what's going on right now. I was reading a report from carrier your member of the of the air conditioning company it was all in the news right after the president was elected because. They agreed to keep I think what was it about thousand employees and Indiana something like that. And they said the cause of tariffs they've had to raise prices three times this year actually. In order to account for terrorists and so you know you're seeing these costs starting to go up in different places. And it's something that he's going to continue to build the longer that goes on at this point. Not it's not like those additional cost just go away at some point it's look you have to make a conscious effort to say. They were getting rid of these tariffs and and that's not something I see happening any time soon. Insiders in General Motors are saying the same thing about the layoffs that are if you saw that they're there they're claiming Kate. You know we your you're relaying obese people lost partly because at least in terrorists so there you know a lot of Arab popular I think the president knows that I know the press. Has cut blown it in Kudlow is in his face the only. Navarro is going to that meeting in in Buenos Aires. I think that the big question that I've been harping on since probably August is. How do you get both sides to save face the way they need to. Because I agree he gained as I just I can't column two we were lit and the issue it's it's not. Outsourcing of jobs that's not the key issues that that's actually at stake here so intellectual property its its intellectual property and. It ever talk about packed it like I read all the story a mystery at six stories on the ministers meeting. Not a damn one says anything about intellectual property you know why that is why because they're not going to get a solution on. Live with terror why would you. Talk about it if you if you know you have no chance of getting effects. That's terror you know if you can message hey we're gonna get this and what ever ends up coming out of this and I don't think is going to be able to to address the key issues because both countries. View those key issues as a matter of national security and as such probably aren't going to budge on. And it's a that that that I I think is the toughest issues that players they're dealing. The Federal Reserve is shift shifting to a less predictable approach to policy making. I I got a kick out of this analogy by Jay Powell he said envision yourself walking through. A room that is pitch black and you don't know where the furniture is right under your neck yeah it is definitely. Eat tend to walk slowly and and carefully I think he's backing off. Of it is statement. Which was. TV. At clarity come out there earlier this week. And I got Jay Powell saying well now we're going to be data dependent a lot of science and pointing to earnings slowdown. And a little bit of GDP slowed down in 29. Well in in to meet this suggests I think that the bigger thing that I look at then. Is if he does not my question is not you know necessarily. You know what what is this dude earnings because I think that's kind of relatively straightforward but I think the bigger question that I have is in terms of funding the government going forward then. This does raise some questions as far as how that happens is because all of the demand for treasurys have been brought in order to grow the economy for the last forty years. And so I think this is the kind of thing that pushes you into. A more inflationary environment and I think that's something investors need to take into account as we haven't seen that in forty years. Do you think the president regrets firing pin on at this point. His daughter told is don't want a good question he keep his daughter wanted him if vodka. Really liked it. Who wanted him to keep her. As the Fed chair and yesterday they were really the last week or two. The president has been dumped on his eat he appointed. And now he's dumping on policy and a very unhappy with that higher. And he I what are you said Tuesday it puts Janet on speed dials as they can come back and and fired Jay and you come back. Good question I I don't know the answer to that they'll be he has spoken about her rattle due to light fired or. No guilt the reason no short he doesn't like short people. Is on the forget job. That's the cut that included a jump ball or two I got bad hair. He noxious personality I don't know why didn't hire me to be honest. Well actually there's a good there's a lot of people that question that term let's let's take a look at our poll question of the day. Which is do you think that fed chaired GA hole should be fired. Hey what do you Wear it with your opinions. On. Like I don't think so. You know what I what I voted no and I don't think there's anything that warrants say a firing at this point disagreements art you know cause for fire or anything like that. And I I I think I don't really think there's much difference between Jay college and you know I think they're kind of cut from the same cloth. I think his messaging is different and that's something the markets are trying to get used to it and figure out Jenny your own use to over explain and try to over you know. Oh almost over Medicaid market saying hey everything's gonna be fine will be O. Where is. Tiger just tells it like it is like he just wants to say boo welcome raising rates deal with that and now I think there's a difference in communication I don't think policies very different I agree on that. But their communication styles different and that's something. You know markets have been lulled into this kind of false sense of security I think over the last decade. And to be honest that the jays markets like sometimes it's like hey look we're gonna do this your big boy accompany you figure it out and deal with you know. Let us know your thoughts you can participate in our poll by visiting our website financial exchange showed dot com do you think that fed chaired GA owl. Should be fired president trump seems to think he should be in. Frankly he may end up doing that very action. You can participate in the poll org you can text us with your response 63566. Is our tech's number don't forget my first name. At the beginning of your text message when we come back. We'll be talking about a little bank in Boston that just got purchased that's next on the financial. 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 -- 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 for camp but gifting RSS beat 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 a gift 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 gift or not to gift 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 blocked sink or dream. 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. Cold easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy calming MA dot com for more information. Massa 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 companion product the Oca and if you qualify. You get some great reward so for example you 2.0 5%. EP wise you're savings account up 200000 dollars 100000. You get 1% cash back and all of beard he's suspending your debit card that's good eight at eight here reimbursements if you use in other things you know. 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 in so the benefit of that is that really expands average network yeah he's in need Yamon. It doesn't have to be leader bank one. If you qualify it's pretty simple unions 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 balances up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them online leader bank dot com. It's called Zuma rewards account ZEUGMA. 8776917900. Securities offered to securities America ain't members in red SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word. Barry to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Congratulations. To those of you who are shareholders. In Belmont savings bank because some of a gun if you worked a acquired yesterday by people's united financial. This trend that we should look for two truck going in in the future well this is interest. Here are so Belmont savings being acquired for 327. Million dollars by people's united. And it's a deal that adds about three billion in assets. Across six branches that they have primarily. In Belmont Cambridge Newton Waltham Watertown and specifically when you talk about what those. Neighborhoods tend to have. They're very you know very well to do very well off near neighborhoods. And I think that's probably what people's united is looking for here. Is there looking to be able to grow into. More of those types of neighborhoods going forward. What what makes me think that you're not necessarily going to see a ton of this going forward here. Is that at least in New England. There aren't a ton of small community banks left like this in affluent places you know it's. These are still have an awful lot of smaller community banks and credit unions and things like that that are around. But I don't think they have the combination of the size and the specific area that the neo do business in that Belmont savings out here. What do you think of banks though I'm looking at eastern savings bank Middlesex savings bank Rockland trust you you and I know those are pretty good sized banks F. If the same time they're trying to compete with your Bank of America is and injured JPMorgan's. And when you look at the regulatory costs I know that the small banks have lower regulatory threshold. But the their amount of money that they're investing in technology and regulatory issues. Got to believe that it's tough for small bank to survive going forward without merging into bigger one. It is I do think that you're starting to seal a little bit of push back on the bigger banks in particular. The lack of decent deposit rates at their giving out I know that's an area where they've had to try to get a little bit more competitive lately. Just as the smaller banks have been eating their wants to be completely honest on the Japanese leader to take the leader bank tools ever. Yeah on and on those rates and so I do think that the smaller banks have some things they can do there and also I think that. So many people are so fed up with. The customer service that they get from the bigger banks yep that there making moves to smaller ones in which smaller ones are doing to be honest it's it's pretty Smart lake. You look at a lot of these small banks now they've refund any ATM fees that the big banks charge and stuff like that they've got decent networks now so. I think smaller banks are you know that they're doing things to try to get competitive. But as you mentioned the regulatory costs are really high for those banks and that's always going to be an uphill battle for them that they are fighting. Was people united people's united bank the one that are buying Belmont debate by a bunch of the city group. Brandt just never Citigroup came up into Boston and then we had the crisis. Was it people's united that bought those practicing like a dozen of them then I can't remember. One rate at the street from office I don't remember I thought that at them had been Webster the bought some of those was at Yucca could be wrong. But any rate Belmont savings bank will be required that was Webster. It was a thing that and 2015. And then next surprising news out of Berkshire bank the CEO quit yesterday. And and really it was kind of unexpected it makes me think. That there's another shooter drop. And the reason I say that is. Some analysts were received a letter from employees. That described the workplace as toxic in the in dire need of change. Now the letter was purportedly written by employees and was sent to analysts several bank insiders and several prominent members of the community while I mean that's. That's a rebellion from within the cease suite of Berkshire bank. Yeah that was according to was that the analyst at perceive that we're at Piper Jaffray and so. I don't know a ton about you know I don't think any of us have a clear idea of what was going on but if that letter indeed. Was written consent to these analysts as being reported. Find out the eons ago that the ADV. You can't keep something like that secret so with the CEO was a pervert or. If if you lose verbally abusive it's gonna come out to be disappointed that it be immediately appointed Richard rod has been there are few years. But. It unusual the banking sector to see somebody to walk up the world he must know that there and he got my interpretation of leases. CEO who quit is saying no self in his name's Michael daily. If there's more bad news to come actually he had. They coming up we'll be joined by Michael Armstrong for Wall Street watcher walls talk about petroleum brewing company. There are raising wages for some of the workers outcome you know. When we return to the financials and 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 blocks incur a drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently and believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 86 to 1190s that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10183. 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Dot net as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming 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 -- an expert -- -- state -- 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 -- -- in -- you'll find information related to the -- process -- taxes 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 -- you begin your planning -- call 866845699. And get this free guide to gifts or not a -- that's 8668 -- 5699. -- -- has over thirty years experience helping families like -- let -- help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. It's pretty hard to find a bank that as -- checking and savings account that can provided decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks -- rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's -- all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great rate it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. Minimum deposit to open and an annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings were subject to change without notice leader bank a step ahead member of the icy. Whether you're celebrating a milestone -- diversifying your portfolio precious metals are Smart meaningful investment one -- and 110 ounce silver and gold bullion coins are now available at all -- bank locations bank locally and -- gold locally we just make sense -- -- -- -- call and learn more call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value -- back a step ahead this is a special announcement for all landlords chasing -- only rent payments and making trips to the bank to deposit checks -- hassle -- -- round date with -- and leader banks all -- rent collection -- zero automatically -- tenant's -- and deposited into your account visit WWW -- he -- dot -- to learn more -- -- -- your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months -- free throw landlords visit WWW -- see rent dot -- to learn more or call 7816418691. Time now for street watch a look at the market's performance so far today you victim Marian jog right here on the financial exchange radio network. Time now for Wall Street watched brought to you by a leader bank it's not too late to get a great. Read on a home mortgage and leader bank specializes. In a wide variety of purchase and refinance loans some of the most competitive rates New England. Called leader bank today 776917900. Or. Visit leader bank dot com for more information member FDIC. Mike Armstrong is now with us for Wall Street watch Michael start off with salesforce. I know they were up about 8% earlier now up about 4% but they reported earnings must've been a decent quarter at least decent guidance. Yes so he had. Pretty good guys and it was. Slightly mixed depending on how you're looking at it stokes. I go first out currently court current court propagated 61 cents a share which was just about him lines lately about that and that's revenue beat forecasts. So the current quarter guidance was a little bit below expectations but their forecasts for future revenue. Was well above content theft that they're seeing a lot of their customers which of their cloud based service which they can drive higher revenue point off. So like you mentioned stock was up about 8% but it comes down a little bit more doubt that one half percent today. Like most get a tech companies had a really rough Q force so far so make no apple does want to that the team and the amber. Start now about my favorite name in business that is JM Smucker company. They are down 6% today now off about 25%. For the year it's going on there. Yeah you know it is smoker like a lot of these large food brand companies seems to be having a really tough time competing and just. Changes in consumer Casey you're seeing a similar type of scenario craft kind companies. Two airport for the profit 217 share which was seventeen cents per share below estimate revenue fell short. They cut their full year guidance. They're calling it very competitive environment and lower pricing. I think which are seeing is just a changing consumer. Preferences they don't like buying these. Would be to brand company to divert resources it seems these Estee anyway. I don't know but he is start to wonder does so not that look like start to look like attractive takeover target of but he. It Tiffany down about 11% today in early trading our people no longer buying ridiculously priced jewelry. Appears to not at least for their current court that came in with 77 to. Seventy cents per share. Earnings which was fine but the revenue was below forecast comp store sales were also shy. You know obviously just does not include the holiday shopping seasons I think cool we'll see what this looks like come January into this in turn around. In price but it's been pretty volatile this year if you take a look at that you know huge chute up earlier this year and can't wait back down to basement where they were back in bank. Very good thank you Mike it's Mike Armstrong with Wall Street watch and that is Wall Street watch presented by the leader bank you can call right now offered rate rate on a home mortgage. At 8776917900. If we call now that also milieu they are free residential mortgage survival guide. That number again is 8776917900. Where notably to bank dot com member FDIC. If you ever had the red raspberry. Preserves from smoker. And don't. List that's on the play imagine it would stand out if I did so no I haven't. It's at its exceptional place strongly recommend he tried according dork hole 75% of our audience think that Jay Powell should not be fired you can participate in our poll question by visiting our website. To exchange showed dot com. Do you think that that chaired Jeep howl should be fired it sounds to me like the president might be headed that direction but we'll see. Trillium brewing restorers. Employees' hourly wheat is this is a very complicated story for. I think tipped workers say not to workers making eight dollars an hour five dollar item. I get confused. So here's the sense that I get is to what was going on. Trillion just opened up a new facility in in Boston okay. And in that facility they are paying people. Five dollars an hour because they are tipped workers in that facility and so they receive five dollars an hour and then tips on top of that. And they moved employees from another facility where they were paying them eight dollars an hour but not receiving tips. And to reduce their wages down to five dollars an hour but put them on a system where they would collect tips. Apparently those employees were not particularly thrilled. And suit trillion has bumped them back up to eight dollars an hour. And this is a craft brewery right is this is like one of the it's a good one to notice it's include Kraft February. And how much do you pay you by the peers by four pack of sport at every ball out spear sixteen they're sixteen ounce Beers of their bigger than your normal can not get four Vaughn and they're expensive they're probably anywhere from sixteen to 22 dollars for four Beers. In my expect explain that little homeownership rate formal O'Neal's. Yeah it probably does you know it's exit this up isn't cheap you know would submit that maybe there's something to you know bodily its advertising you know beer for the masses or whatever the heck they're saying these days but. Yes a trillion get themselves into trouble with their workers but. Put him back together with and I think it was about a week or so that this was going on so not too not too long this. Folks if you have significant money saved for retirement you're ahead of the game because a significant percentage of people near retirement age haven't saved anything. Having the money is one thing. But knowing when and how to take it. That's the other piece 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 seventy and a half. We take calls from clients all the time with questions about this process so we've put together a guy that's available this month. COLT understanding required minimum distributions. It'll have all the information that you need to make sure you follow the guidelines set forth by the government with a incurring any penalty. The guide is free. And it's yours by calling 800. 393. 4001. That's 803934001. Or download for free right now at 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. You know I was talking to a friend of mine who's a pastor at church and just read you a quote from the Wall Street Journal medal talk about different is the pastor. The tax law pushed the new tax law that passed passed last year. Pushed millions of upper middle class households from itemize deductions into larger standard deduction. That shift could change the annual pattern of December donations that charities count on. In the group's leaders are preparing for months and years of uncertainties. As taxpayers and just so my friend the pastor truck. Was telling me that donations. To his church he he serves an affluent. Community. And he said donations this year are down because people are not going to be able to. Don't meet the full amount that they're hiding to the church now many. Many parishioners will tie the percentage of their salary anywhere from you know 5% to on the high end I think mormons are 15%. But the this pastor was explaining to me it's creating a real hardship and then I'm starting to reap the same things from. Colleges and universities and other charitable institutions that charitable giving is on the decline this year. So here's the thing that I don't quite understand I'm not denying that this is happening because again we're seeing pony reports that it is via. What I find interesting about this is so let's say that someone is getting the larger standard deduction instead of itemize right. They have more money in their pocket then. In theory they should be able to make larger donations yeah it's not directly deductible but if they're getting a bigger deduction and they were previously while itemize thing yeah. In theory they should be able to donate more money actually. But in India may wash out because the super betrayed the people that have incomes of the million dollars they're still fighting minimizing. There were concerns that top 1% might make up for the declined to what they're saying is people in that. Ninety. 97. You know the to the top not the top 1% not even top one and a half percent but you're below backed. And you get to people that are earning household incomes of you know 12050000. All the way up to call 300000. That's where they're seeing the decline in charitable giving dude because. That's not that's the amount of income truck where you're not super wealthy right Nightline around on a private jet. But you're looking at insane okay well I've got to pay tuition are save money for winning. Ends I usually ties 5000 dollars to my church. Man and I have to cut that back because I can't deduct it anymore. And it cut it back to 2000 or 3000 and that's what the pastor was explaining to me now that may be just an isolated incident you know it might be a one off. But time will tell we'll get statistics on that probably the second half of next year is when will learn what charitable giving was in the it and. Tony team and in particular I'm I'm really interest deceived what this does next year after people have one years' experience in the new tax code. Because I do wonder you know let's say that people start getting back bigger refunds and they expect. In April I wonder if they sit there and say oh gee actually have a little bit more cash flows and I thought maybe I could give a little bit more. Some I'm curious how good this looks one year out after people have a little bit more experience with the. Very good point. They coming operator re visit our conversation regarding General Motors their shares are down today sixty cents at 36 dollars and one cent as you know. They are taking a tremendous amount of heat from the White House Larry cut those on their back. I think they're kind of coming around and and and maybe. Making it up so now we're talk about GM and what their plans are for the future when we come back to the financial exchange. It's hard to dial a phone or send an email list to dumb but it's easy to text we've got an X sign up and running when you can tell us what you think right now by texting us at 63566. You skewered Barry and join our exclusive club this is the financial exchange radio network. 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 -- 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 investor Valassis to attend a -- 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 the location near you at Tuscan brands dot com register now what 803934001. That's 803934001. Securities offered to securities America incorporated members in SIPC advisory services are with the securities America advisors incorporated Gary 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 cleaning is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with -- -- -- of -- and -- can help time as an expert -- -- state claiming 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 to -- 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'll need to consider is you begin your planning -- 866845699. And get this free guide -- gifts or not -- -- -- 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legal 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 cult easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 862. 1190 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 781. 862119. 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 digitized paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers there 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 8776917. To 900 or email BB EO at leader -- dot com for more information member FDIC equal housing lender. On top of breaking financial news by becoming a member of the carries per day blog under financial exchange does come in sign up today. What General Motors has fined him. News since Monday morning when they announced that they were closing five North American plants. And that they were eliminating. His bout 151000 jobs. Mr. trump. We did the other day nothing being closed in Mexico and China makes good point there. Will you do have plants being closed and Canada and Korea. Yup but you know he's pointing out Mexico shuttered doing just fine. The egg I guess we. Big question comes up beast he talked about out. Eliminating subsidies what is he talking about there in terms of if you activity is the it GM getting some kind of government subsidy that I'm unaware of well and. No one's entirely sure what he's talking about with regards this part of this. Maybe and were in response to on electric vehicles. There is an income tax credit that is available to manufacturers for the first 200000 electric vehicles that they manufacture. With GM making things like the Chevy Volt in the bolt and so on. Those tax credits have been used to make those vehicles more affordable. For individuals buying them so when you but I just evil that's an example you got a 7500 dollar tax credit. That you were able to use so it gave me huge incentive to buy the ups. For the big thing is GM is just about through those subsidies actually they're they're getting pretty close to. 200000 vehicles and so those are gonna going to be going away any ways Abner points. In his or any other subsidy that you're like I you don't one thing he could do in here's just a suggestion to the president. He is cancel all federal government orders of General Motors product or you eat like the it the FBI uses a lot of the action be super it's going to say we're not used to purpose anymore or any use of fort. You you could I mean. I don't know if you really wanna get into the business of picking winners and losers based on what companies. Do leg that's generally something that. We don't want because it kind of goes against free market principles. If we're gonna start doing stuff like that. We're not really all that different from China and more centrally planned economies are we. It acts. That would be my action may legacy Angela and why. As soon as I show you have to player people used use whose contracts are what we're saying. Term. The it's it's better than what he's doing now I mean it is his statement we're gonna eliminate subsidies of the subsidies are gone anyway writes if you really want to take action. To say okay well. You know we're gonna buy a here early and buy cars from companies that don't fire American workers if if that's if if that's is in order church should be and just saying that. If the statement would be. The date consequences would be greater they'd federal government I think buys. Over 100000 vehicles a year. If that's what. Cars so weird that so this is pretty much the same premise is No Child Left Behind in that if you don't do something well. We're gonna take further funding away and make things even worse for your business media and after get rid of more jobs. They get as well you know what that General Motors pointed out two to the president was they said. You know if you hadn't put those tariffs on China we mean got a pad to eliminate these jobs analogy you buying that argument not. Really I I don't buy it at a time I think that's when we look at it you know margins are pretty decent for GM right now I mean it's it's not a case where you're seeing things because of that this is. Hey they are making vehicles that board overly popular. But I think the bigger thing there is a demand problem and no one wants to it no one wants to talk about this for some reason. When you're cut when you're closing down plants that make vehicles to one thing because you say OK maybe there was vehicles are what people are buying. Now they closed down an engine plant in a transmission plants. You can all of those plants are running at about 50% and you can do it in you can make engines and transmissions you can easily retool those more easily than. You know whose specific vehicle plants so I look at the fact that they're closing an engine and transmission plants. There's a demand problem there this is not a supply problem there's a demand problem there and for some reason everyone wants to keep whistling past the graveyard saying everything's hunky dory everything's fine. Missed assault on 179 cars they're not they're not in the where did not know Bordal. Our works with our car were on pace to be somewhere in the high fifteen still low sixteens now. Now I mean that there is a demand problem that is coming and it's not just the US it is worldwide in for some reason. Everyone wants to pretend like we're just all systems go heading in the nineteen. And the more data I get the worse it. Looks like if it doesn't that put pressure on the president to do a trade deal and present and she is I mean if if if what you're saying. Is accurate I don't I'm not disputing that. Things are slowing down there's a lot of economic indicators that would suggest that we're gonna slow economy. Terrorists are gonna make that slowing economy even worse and the president knows that I promise you he's being screamed at Butler couple. Saying you've got to get out of the straight world with China has. If if you don't get out of the trade work you could cause a recession does it what's that what's the terror numbers I've read anywhere from. Half a point to one full point on GDP next year. Yeah it's going to be somewhere in that ballpark global auto sales by the way the data on this global auto sales not just in the US but globally. Off 10% year over year now through October. There is a huge demand problem and no one wants you does that is the lowest number that we've had by the way in terms of year over year change and global auto sales Bengie giving biggest. That is that is the lowest number we have had since 2008. Do you think there's some people vote chuck scale large portion on 2008 did you say yes like I'm I'm told like. Things are not right now lake I can't make this any more clear I've been skeptical heading into the fall but as we've gone further. Things do not look good heading in the nineteen. There wise a market it Dow's up a 162 seamer is the market was up in 2007. The Euro the a lot of selling going into the media these rallies he still a lot of banks Morgan Stanley among them saying to their clients. Yet if the market's up 160 point sell some stocks that. That's that's very negative indicator. You know the media but these these guys are wrong to news it's they are oh yeah always was very. It's I look at the data I don't listen to what they're saying it is what they're gonna say what they're gonna say. But the data suggest there is a fundamental weakening happening in anything that is. Tied interest rates anything tied to growth is weakening heading into next year right now. Price of oil is down 91 cents per barrel at fifty dollars and 65 cents at Dow's up 161 points the S&P is up seven. And the NASDAQ is up. Nineteen. Points. When we come back we're talking about a four night addiction and Betsy devotes. Warning about a student loan problem okay that's up next. 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Or you can download the -- right now from our website 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 -- 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 -- -- -- can help -- is an expert in -- -- elder law and taxation and if -- in the process of legacy -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that you need to consider as you begin your planning -- call 866845699. And get this free guide to gifts or not a -- -- 8668485699. -- Dolan has over thirty years experience helping families like -- let -- help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. 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And you have IRAs 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 penalties Mike how steeped in the penalties be on our d.s that are taken out. They can be very severe so. Let's say your first year required distribution is. 5000 dollars and you fail to take that money out you can be penalized. Up to one half of what you're supposed to take out but didn't so let's say you didn't take any of your prior distribution you can be 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 80393. 4001. Or you can also downloaded for free at Armstrong advisory dot com. Once again that number is 803934001. Or Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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And no 1:30 PM this is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy to have you are required to start taking withdrawals from your retirement account of course questions to arise how much do they take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide we'll tell you how much you have to take out based on your age and it also explains an exception to the R&D rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. It's pretty hard to find a bank that as 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 -- rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's -- all leader banks Zuma rewards account has a two point 05%. Annual percentage yield if you're searching for great great it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. No 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 me. This is the financial exchange with Barry Armstrong in chunks of you're exclusive look at business and financial news of can 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 Barry Armstrong and sharks done us. The market is rallying today with the Dow Jones Industrial Average up 169. Points nobody minds market volatility when things are going the right way when they're down 300 points that we get concerned. GDP came in this morning the second estimate three half percent consistent with what we've expected. New home sales were very disappointing. What seems to be moving the market higher at least this is my impression. Is that I think there is a group that believes that there will be some kind of progress me as a relates to the trade war with China. Turkey's seemed to think though that and by the way folks thanks for joining us it's burying truck with you here on Wednesday. Turkey still seem to think that there's no progress to be made in China or with China this weekend in Buenos Aires. Over the the way that I tend to look at it is that the key issues that it's. Both sides want to address. Number one or intellectual property. Protection and theft and number two. Is the role of the US dollar and conduct conducting trade and commerce with China. And China pretty much wants to say hey were going to be bigger than you. We already are the biggest oil importer in the world we don't want to be using the dollar to bring oil into our country and by the way. We also don't really see the need to change our intellectual property laws because while we're bigger than you and if you want access to our market you have to play on our terms so. I don't see huge impetus for China to change there. If you the US you're sitting there any sane. Well look if I can't get any of those things. What am I going to be able to come back to the country with and say hey here's what we actually got is there going to be any meaningful change and so. I don't. I don't doubt that there's probably a deal to be done. But it's not going to be one that allows either side to save face and I think that's a real problem in particular in the US just because we have you know. Actual elections as opposed to be of China where you have present G who has been appointed president for life now. Say I think what you're saying at least what I heard you say news. The president's probably do the right thing but it's gonna involve put a bit of pain on everybody's part brightly in meaning. The United States is gonna pay for this we haven't yet great news I think people are still holding out hope. That a negotiated settlement will be reached. But the fact of the matter is if it's not reached in the East Point 5% tariffs going to affect that's gonna hurt Americans. Yes. So Tucker Silva confessing. That he bought a new phone he was very just like a week or two ago chuck he's. It's like a five paragraph email almost apologize led doing it but I do explain myself because I've been so adamant on not getting a new phone I did what did you get with to a kind of voted yet so I got the iPhone ten. Which runs the based model is 749. Dollars but I want with the 128. Gigabyte version for 799. Dollars. And when trading when did you get this yesterday Oca. You in you treating you or what you're six so yeah writes I've had my six pass for about four years now. And I had my full intention was to treated and then you know whatever price I got I got. So the day I walked in yesterday and they started this promotion and they said yeah. If you trade in your model. I depending on which one was you get an extra 100 dollars on top of your trade in value so if I worked out Monday I would have only got a hundred dollars. For the phone neck treated and words yesterday with their promotion I ended a pin 200 dollars for a trade and so essentially got my new fallen ten are. For 509 handles which isn't bad bottler. You know it's funny I've read something. Equipment at CNET earlier in the week saying that if you have a five or six or. Some people are still walking with force to just not running properly. In the Ayers yeah stuck in the batteries. You know because they're laboring so hard to try to keep up Syria that was the biggest thing for me yours I'll hire you replace the battery matter about a year or so ago he hands it just got to the point where you know. By the end of the show my phone's you know 40%. Some like that. And I had to charge of phone twice and Danish are what do we do and who knew him it was running slower to illusions of all the phone that's we shouldn't be texting during the show. Well I have to focus. Here. Will be worth it then he's circuit via our Twitter. Well not any great but it is getting the troops home to school. Yeah eat eat. That's a pretty new phone that you should get three years this new code and 34 maybe longer who knows I mean it really is a nice fall and he seems what do you like about it so for what he now like. I like that in the screen is bigger I'd like that it deftly moves faster positive at bat and the camera is. Night and day better than what I had the success. And then did the biggest things for me was storage is on that success only sixteen gigs of memory where's this one's a 128. Such a huge difference. In order came down to chat he just wanted to appeal to take better pictures of his date yes it's exactly what is does that factor you know. Or take the best possible picture and now have the most storage for said pictures. So for night it personally need to explain disarm or audience were fort ideas of video game. It's a free video of the data play. But it's somewhat addictive from acting gathers to root problem is as our fact you've got professional athletes that are becoming addicted to the game for. Yet it's it's everywhere I mean if you talk to pretty much any one. Really under the age of forty there's a decent chance they've pleaded at least once and there's a non zero chance that they're completely hooked on it at this point. The issue that I guess you're you're seeing is that a lot of parents. Are complaining and are concerned that their kids are playing too many video games and they're trying to send them the quote video game rehab and so forth yeah. To which I say look your parents your job is to not let them play twelve hours a day yup when I was problem is they can play on their mobile phone book then you take their mobile phone awaits them if they that's what I used to do in my case you know like that's what happened to me and I didn't get hooked eyes I've played a lot of video games don't get me wrong I'd like you know. In college there'd be days where he had played for six or eight hours but I also had a balance because I was old enough to know hey I can't do this every single day. But my parents taught me that by taking my phone and my computer away when I couldn't that when I was getting in my way same here. Yup but I tell you what Boston Red Sox pitcher David Price was scratched from a may start against the our chief rival New York Yankees. Because of wrist problems that may have been exacerbate. Exacerbated. By playing for nine now so as a kid that a grown adult. Yeah and they get a lot of money. And then he went and won the clinching games and the new. Various World Series though I'm not too concerned about David Price. Well I did I just pointing out it's not just children that are getting it really is though. You know make it really is like David Price still like he's a big child he did okay like he did already like. I think that the big problem that I see is. Parents are parenting and if you're not going to parent of you don't want to be the bad guy. In your kid is going to not learn proper boundaries and things like that kids are just born into the world knowing how to live. You know like you went through this with all your kids where it was so they wanted to you know play well today not do their homework well they have to or consequences for that the parents don't want to ticket count. Wentz is their problem. We've been. Talking about the student loan crisis since it was only a trillion dollars worth. Delinquent debt now at one point five trillion Betsy to losses saying hey we might have a problem here. Yet in that this is a problem that isn't going away anytime soon. You know the federal government holds almost one and a half trillion dollars in outstanding student loans as mentioned. That number is pretty much increasingly nearly it's not either getting steeper or worse it's genders it's just kind of hate it just keeps going up by about the same amount each year has colleges keep raising tuition. By about the same amount each year. There's there's a reckoning coming for college's IP you're you're going to see in the next decade a whole bunch of more colleges. Closing down or merging ignored tried to deal with the financial ramifications of this because it's not sustainable but. What is your opinion as you sit here now Yee graduated. Twelve years ago or whatever was. Do you think. Loans like this struck need to be underwritten there'll guaranteed issue so parent can get a pair plus loans whether they've got a job or not. Kid can get guarantee if that's our called guaranteed student loans. They could be an apple had high school right they can barely graduate high school but still get guaranteed student loans to go to college at some point to say to yourself. T maybe we shouldn't be giving student they admit maybe we should. Underwrite them and say look if you're doping you don't try high school we're not gonna give you student loans and parents. If you're dead beat you don't pay any of your other bills wiry and use your term possible. I think that's probably part of the solution but I think the bigger thing the real question I think we need to be asking. Is why does the cost of college keep going up. By the same percentage just about year over year when everything else in the world isn't going up in the same fashion. Because credit is too easy to get well and he's like you went home prices went up in 2005. They went up because it was easy to borrow the money. And I think part of it is you know people look at student loans they take the mound they say oh that's something that's making college affordable. Well it's not all it's doing is it's taking your future purchasing power and using it today that's not cold making something more affordable that's called borrowing. Okay that's that's not making him you know by taking out a mortgage doesn't make home more affordable just means you have to work for thirty years to pay that home off or so. When I look at this I say okay. But what are we actually do to innovate to drive the cost down and what incentives it there for colleges to drive their cost down. Their art to ton right now until people stop walking through those doors right. Now in the end and your day of reckoning comment. Is poignant because years it's gonna be years from now is going to be when colleges run into a whole heap of trouble in the reason why. Is in 2008 you saw a 10% drop in the number of births from the year prior because of the recession. Colleges are not going to know how to deal with 10% less students tenure 88 years from now. And they never come back having the birth rates no they haven't. Hold prices have surged we're gonna be talking about the new limits as a relates to Fannie and Freddie. Mortgages. They amount that it can RT it's actually good news for a cover that topic when we return to about it to auction. Business news is constantly break. And we're here to break it down and show what it means to your portfolio gives the financial exchange with Barry Armstrong and -- soda 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 when and how to take it is another Titus is very Armstrong required minimum distributions are mounts that the federal government requires you to withdraw annually from a traditional IRA or an employer sponsored plan once you reach the age of seventy and a half I take calls from clients all the time with questions about this process so I've written a brand new guide available this month called understanding required minimum distributions it'll have all the information you need to make sure you follow the guidelines set forth by the government without incurring any penalty to guide his free and it's -- 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 SIPC 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 -- and Dolan can help time as an expert and a state claiming elder law and taxation and if you're in the process of legacy claiming you need to call him right now and get his new free guide to gifts or not a gift in it you'll find information related to the gifting process with Texas issues may arise from a significant -- click at home or vacation property and what happens to the -- of the child has -- issues these are all things that you need to consider is you begin your planning -- 866845699. And get this free guide to gifts or not a gift that's 8668485699. -- Dolan has over thirty years experience helping families like yours let them help you do call 8668485699. Or download the -- right now from our website 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 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. All easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. Eat six to. 1190 that 7818621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. It's pretty hard to find a bank that as a checking and savings account that can provided decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years of fury 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 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. insulate these reduce earnings were subject to change without notice leader back a step ahead member of the icy. Be a part of the financial exchange in an instant by texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. Those of you who have purchased a new home or refinance the home no. The term I've heard that term conforming. Mortgage. And the dollar amounts chuck for conforming mortgages taking a big jump. On January 1 when he nineteen that's good for mortgage brokers and it's sure good for pro or borrowers. Yes starting in in 2019 the maximum conforming loan limit is gonna go up to 484350. Dollars up about six point 9% from this year. And that's based pretty much the way they calculate that it's based on the change in home prices between the third quarter of seventeen of the third quarter of eighteen. Using the FHF. Eight index. To measure that and so pretty much what this does. Is conforming mortgages really what what it means. Is that they are easier to sell on the secondary market they're easier to package and sell in all of those collateralized loan obligations a kind of brought the whole house down back in 2008. For but it's really it just means it's easier to underwrite. Because it is easier to get federal backing for that mortgage. In the event that anything. Were to go wrong on. He said 484. Will be the number next year but if you live and high cost area and like west palm or New York City or Boston the mortgage amount is even larger. Yet a 150%. Of that baseline limit. And so that's of the 72600525. Nets and a hundred different higher cost counties. Across the country that that's the case there. Trivia is brought to you would put trivia every day here folks are media is brought to buy seasons 52 restaurant if 43 locations nationwide. Including two in the Boston area and one in West Palm Beach. Seasons 52 is on a mission a mission to provide you with a better way to eat visit seized 52 today in Burlington Chestnut Hill or Palm Beach Gardens or go to seasons 52 dot com. Forming new information and reservations booked your holiday party today he get a special gift for all of your guests. Not to play trivia all you do is you text the answer to this difficult question. 263566. Yet my first name which is Barry BA RY. At the beginning of your text message. And then the correct answer to that question. American Oscar Tony and Emmy. Winning actor Ed Harris was born 68 years ago on this day in Englewood New Jersey sixty years old or. Ed Harris has appeared in six films that were nominated for the best picture include. Oh best actor off Oscar award. The right stuff. Places in the heart Apollo thirteen a beautiful mind the hours and gravity. The question is which film is the only one to win the best. Picture award and I have no idea which one it was a tremendous think about one. Anyway you know the answer to that question. You can text the answer to us at 63566. Effectively the question is. One of those at harris' pictures won best picture award which one was it. You know the answer 63566. Is the number you should send you're correct answer to the winner will receive a fifty dollar. Gift certificate to seasons 52. Puppet John shares taking another plunge on a report that Tryon is no longer looking at the company chart this is the company that was it boiled. But he he eat get the the founder got himself at all kinds try it. Yep back this spring and so was the stock over the last couple days gone from 58 bucks a share down to 48 so taking him out. You know 1415%. Haircut. In the last couple days here and you know Papa John's they've been trying to do some things to rehabilitate their image as far as out have you seen any of their new commercials. I am not so they they're old commercials pretty much used to have the founder talking and he was the focus of the commercials lobbies you can't do that anymore. It's okay Manning involved too with your heels of a bunch of amount in the Denver area. There it is a spokesman. He was and so what they've moved to now over the last couple months. Their ads all feature either. Franchisees. Managers employees all of them talking about how good pizzas and how good. It is to work at Papa John's so that they're trying to a U turn things around there. I don't know if it's necessarily working to the sales numbers the last couple quarters haven't been great. David Terrell. Let's listen to the stat company lost to the nice thing well here's the number. The company lost thirteen million dollars during the third quarter of this year compared to profit. 221. Million dollar stripped same course eagle year over year. That's the went 34 million dollars linked. Yes it's it's a big difference there in the they're just they're in a really tough niche to compete in as well just because you know dominoes we've talked at length about the success they've had the last couple years that is their pizza might be it's still sells very well. And to be honest I do it there's a certain part of it really likes Domino's the right time and nights are hurting at aria that there's something wrong with that part of I don't know if there's something wrong with lots of parts of me but this one in particular there's there's part of me that does still like Domino's Pizza. You just take a piece of cardboard. But peace if she's on eat try to tomorrow and it and representing really. At and bad cheese in the my wife's got to stay at work late tomorrow and it's all try that what you know how it works out for me. That are tied to state that their whole space the restaurant space. In my opinion is overpopulated. All these chains. I totally chain restaurants. And into it. Means there are large parts of the country ever been out to Phoenix Arizona. There's nothing that chain restaurants. You see a lot of public it's funny that you can goats is just about anywhere in the US now. India go down kind of a main road and you see the exact same places regardless of where you are to it if you were blindfolded. You might not be able to tell where you were if you just looked up on one of those main roads. But chuck gets lousy day vs love CB. On the no I'm not denying it you know you go to an Arby's or McDonald's or Burger King or try to think it was cold first. Out in Phoenix and just it's just. So bad and then you go to a mom and pop place they get a real meal that's going to be more expensive but to eat eat getting real food as opposed to. Process institutional. I agree 100% that that the trade off that you get in the trade off the people make is with fast food you know you're gonna get anywhere in the country so outed to a certain extent look if you might not be doing it consistently bad exactly it's gonna be a consistent level of badness that you can come to accept and eventually they hope that you'll come to law. Maybe oil prices are trading down 91 cents a barrel fifty dollars and 65 cents that now. Is up a 179. The NASDAQ is up 23 points and the S&P 500 is nine point. When we come back we'll probably have a winner torture frequent contest the way I thought it was pretty typical question. We're take a look bill at why oil prices came down so dramatically specifically that day after Thanksgiving really plummeted. We're talk about oil and why they came down the price when we return to the potential change. 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 there's not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taken care of public -- senior partner with -- -- -- of -- in -- can help time -- an expert -- -- -- -- 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 it you'll find information related to the -- process with -- issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that you'll need to consider is you begin your planning -- call 866845699. And get this free guide to gifts or not a gift that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange showed 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 the 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 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 your bank dot com. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce 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 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 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 either expert they're knowledgeable they're courteous. They will be a long time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy calming at 781. 119781. 8621190. Or he can visit them on line at easy combing 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 and we're talking about required minimum distributions are getting towards the end of the year now. In a few over age seventy and a half. And you have IRAs are 401 k.s for a three B is yet have to take out those required distributions before the end of the year. Otherwise you face penalties Mike how steeped in the penalties be on our d.s that are taken out. There can be very severe so. Let's say your first year required distribution is. 5000 dollars and you've failed to take that money out you can be penalized. Up to one half. Of what you're supposed to take out but didn't so let's say you didn't take any of your prior distribution you can be faced an IRS penalty in that case. Of 2500 dollars so it is a significant amount in in terms of you know that penalty it's not just that you face on that one year if you miss 2345. Years whose penalty numbers to add up to significant amounts of money absolutely deserve this is something that you cannot ignore folks and if you find yourself where you find a loved one in the case where they. Aided in no about it largest beef failed to take action don't ignore address it. You know identify what the issue is how much you might oh. And get on it right away it might involve writing a letter to the IRS and explaining the situation but do not ignore the required distribution payments on your retirement account. It's required minimum distributions can be a little scary but our strong advisory group has a new guide out this month titled required minimum distributions to help answer all of your questions all you have to do to get it is call 800. 393. 4001. Or you can also downloaded for free at Armstrong advisory dot com once again that number is 800. 3934001. Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are unaffiliated. If you missed any part of today's show not to worry for the financial exchange showed dot com and click listen. Then click on demand and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen but who had financial exchange showed dot com. But movies a beautiful mind starring Ed terrorist. Russell Crowe and Jennifer Connelly. Was awarded the best picture award during the 2002. Oscars and took home four total Oscar wins including best picture. Best actress in a supporting role best director and best writing while that's a lot of war. And the winner on this question is rich from Springfield Rich's take number fifty dollar gift certificate seasons 52. And with 43 locations nationwide including two of the Boston area and one in West Palm Beach seasons 52 was on a mission and that mission is to provide you with a better way to eat. This seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens. Or go to seasons 52 dot com for menu information and reservations. Book your holiday party today and you get a special gift for all you weren't. Tests. I'm not complaining about fifty dollar oil as a matter of fact I'm applauding it it's gonna help many of you with your home heating winter bills. It's gonna help you do gasoline bills we all buy gasoline blowers input cost. But when I'm confused by not confused but he added I'd like to hear and talk about chuck. What led to the rapid decline in the price of oil wasn't long ago when you and are quoting oil prices at 74 dollars a barrel that's for west Texas. So. I'll say that I don't know because I don't know. Oil markets are just a mess to try to understand because there's so many moving pieces here are some of the things that people were talking about as potential catalysts. That it moved oiled down if 35% in the span of two months. Number one. Whole bunch of pumping going on you've got the US with record production. You've got Russia with record production you've got all kinds of production records that are being hit across the globe so number one you've got really high production. Number two for some reason and I don't know why. People were convinced that when the sanctions on Iran went through that actually meant countries were going to follow those sanctions that when in fact the US government said yeah we're actually an issue a bunch of waiver so you can buy Iranian oil just because we know we don't really have too much sway over this when it's all said and on anyways. And we're not in his start punishing every country that buys Iranian oil so that kinda came out of that request that the the picture as well. I think the bigger thing that I continue to come back to. Is that you have weaker demand globally and expectant. Come and eat you have weaker demand because you have less economic activity than expected. Predominately in China where you have significant Sloan that's going on because of terrorists that have been placed on them by the US and. Don't really know how bad the slowing picture in China is due ladies we think we now. We're guessing yes it's it's it's always hard to get accurate data out of China so we don't know but we do know there's a slowdown that's happening. What I'll tell you is fifty dollar oil. Manageable. It can be dealt with in the US appeared oil producer what happens and it goes to thirty. If if you have oil go to thirty in this economy right now. You're in recession. You know it's it's just your if you went to thirty in state fair in New York qualify that. No if if it goes to thirty you're in a recession. Just as if there's enough uncertainty than that produces just gonna say look we re need to pull capex anyways. Gal that beat widow when we go to 27% eleven it was no that was the spring of sixteen. Oh. So we earning recession. We went into an earnings recession actually we had two straight quarters of negative earnings growth. Let's it was a net GDP. Recession no but keep in mind that you didn't have tariffs he didn't have raised rising rates and things like that you know of the housing issues that we had so. All I'm saying is if UC thirty dollar oil. You've got a recession coming by the end and I think. There is it sounds like gators confluence of events you know demand increased domestic production. Decrease in Chinese demand. Decrease in global demand. And a lot of production day in and technology improvements to meet you talked about this before where. You know the all the sudden I was reading a piece by Harold Hamm where he was quoted in mean feat they have really made they can get. Oil out of the Permian Basin now for forty bucks a barrel yet that's cheap and North Dakota again now for fifty. Now we've heard that before they'll be like I remember in the east tells us seventy bucks to get the ground but turned out to be fictitious but the the prices down fifty were pumping more. And I think we have 30000. Fewer workers in the oil fields today than we had five years ago that's remarkable accomplishment as. He did the big thing that you're seeing right now and I saw this I'm trying to remember where I sought reported. But it was back it was us from someone that Bloomberg about a week and a half maybe a little longer ago. But their huge discounts. The just about any producers putting on futures prices right now just to try to sell their oil also. That suggests that if if the status quo doesn't change the next leg down is probably the next leg forward is probably down. People like to buying. From Costco if you're Costco member to keep a it is different levels of membership the makers of BJ's. But you pay I think forty or fifty bucks a year speed in you can buy your car through Costco. We've reported on this before but. They are actually selling an awful cars. They are and in in this is something I didn't know until we first covered it. What was probably two or three years ago I think you know. But in the past five years over a million Costco members of purchased a vehicle through the program. In the big thing is. You actually don't have to be a costume member to use the program believe it or not. I think it did you do have to be a a member in order to get the discounted price but you can actually buy a car through Costco. Without being a member. So. I wonder if the discount is really substantial. Or does is fictitious citing people and cut the car buying process is so distasteful. That I even worse and I think the I think I wouldn't be surprised if people use Costco just to avoid having to negotiate with a deal. Yeah and in the big thing at their program does is they give you pretty much everything in one place and that's what people like about his that you all the research can be done in one place no haggling on the pricing the pricing just is what it is. I don't know they just send due to a dealer. Maybe they say to you okay go talk to Jerry Jerry over it balked Toyota or whatever. Yes it's not likely. The they're not they're not going out buying the car and delivering it to you you know not go there. No it's it it's just people like the ease of doing the researching the fact there's a fixed price and there's no haggling and the nice thing is cost of thirty negotiated all these prices today. Cut they've effectively gotten bulk pricing for you yeah that's what people like is it's like well. I don't know what I'm trying like how much my next car should cost okay Greg. But I and I know that I need when I know that hears about what I wanna spend. What can you get me in that price range this way Oscars telling you hey here's what we've been able to negotiate you don't have to do the negotiating. You still have to deal with the trade and and you do probably still gonna have to go to two dealerships that's the thing it's a pain in the neck or go to one dealership. He says it will only give me for trade would leave me for price on this vehicle. And then you have Costco is your back up and said okay well we give me for trade to what we you know the price is going to be. And he played too often insecure. Trying to think if there's any less appealing purchase than buying a car lake is there anything that feels is bad even if you think you get a good deal you walk out of there and you start going immediately. Did that pay too much should I put our lake it it just it feels awful no matter why. Selling houses on dealing with the negotiation now heading out who you're dealing a legacy that legacy that. Folks if you are at or near retirement age legacy planning is something. That you're going to want to be mindful of it goes without saying that we want to leave our children in great shape if we can and but gifting or assets be it a home or vacation property it can create a huge capital gains tax problem of the kids choose to sell the home. Tom what's key. Is an expert on elder long taxation. And he's been helping families like yours with their real estate planning needs for years let them help you too if you're beginning to think about legacy planning for your family. Call for Topps brand new guide to gift or not to gift at 8668. Foray. 5699. Gifting assets to our children as a really special meaning but if the children after creditors manager if they go through a divorce. Problems can arise that could be disasters tech yourself and your family. By getting the free guide to gift or not to gift. You've worked a lifetime accumulating wealth now he should spend a few hours to make short stays in your family the right way. Call 8668. Foray. 5699. That's 8668. Horry. 5699. Or download the guide right now at the legal exchange show. Google or Wii mote their way remote division just made a brilliant hire they made to hire the one really caught my attention. Google hired Debra hurston. Now who's the former chair of the National Transportation Safety Board and CEO of the National Safety Council. Debra is gonna become way malls first ever chief safety officer in January an era there's anybody better that they could hire. It is it's a big higher in particular not only. That this is a person who Reno understands the safety issues but likely also has the right contacts to be able to get the right kind of legislation through. On she knows how to write the legislation yeah she knows how to present to congress. I wonder with the paper that he can you imagine what kind of salary she would commander she's coming out of the federal government which means she's probably Macon but 150000. Bucks a year in that ballpark. We we think schools pay millions who live there that is giving her free self driving car. I don't think so no no if you get a company self driving car I I I think yeah. It's kind of like when you you worked for the Fed. Racier the president of the Boston fed government had yet she went into the private sector. And just made a fortune oh yeah we've may work and for the Fed the same thing here here she is working for the NTSB. Now she's working for Google. Trust me she's making a lot of money but I think for school. It it's just another thing that gives them. Maybe a little bit of an upgrade. And and a step ahead of their competitors through their competitors. Should be cruise. Tesla who birth rate but Google already had a lead now I think we've got a bigger. Yet it sure seems like just in terms of the amount of vehicle miles they've logged and just the progress that they're making on some of these other things like hey how do we write legislation how we move forward. It seems like they they're they're making all the right moves and and are significantly ahead of other people that's at least my interpretation. Looking at from our perspective. We have some numbers as a relates to Cyber Monday sales and Black Friday sales. Some shocking statistic as it relates to Black Friday who will be talking about. Sales retail sales when we return with Ben Fox Rubin from CNET that's next. 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 in 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 -- -- -- to attend a call now on reserve your spot at 803934001. Space is limited so call now enjoying 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 the location near you at -- brands dot com register now what 803934001. That's 803934001. Securities offered to securities America incorporated members in SIPC advisory services are 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 it 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 -- 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. Go 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 gift 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. This is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy to have you are required to start taking withdrawals from your retirement account of course questions to arise how much 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 -- worst for free by calling 803934001. That guide will tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered 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 and our companies are unaffiliated are you having problems. The blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices coach AZ plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy 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 ain't member 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 volatile. It. Get your weekly monthly recap about becoming a member of Barry brigades music financial exchange showed John common sign up today. Big box Rubin from CNET now joins us here to talk about these Cyber Monday sales numbers for. We'll just couple days ago now but we already have them. And thanks for joining us. Absolutely. It. Then so what was the total dollar value of goods sold on Cyber Monday this year and how does that compare to prior years. I have the online numbers and online the numbers are really really good. Seven point nine billion dollars. All online back up 19%. From last year at the very useful comparison retail sales bottom line. In the united aid during an average day is one point four billion. There's a huge increase in just one day. Is there any particular placed we have any data on kind of where the biggest increase was due to not get back granular with. So is it appears that they are two major trends that are well I think the increased one up on his shopping on your own. So 2.2 billion dollars that seven point nine billion in from shopping and found that a new single day record. In US history and that's a really really big number considering that trapping on your own wives. A big problem we've go a long time there's also the other thing that Adobe all a bit. Which is basically buy online pick up in order it's not something that I ate generally you don't actually understand why consumers delayed by. I'm sure a lot of people have very good these details. And that is also something that's really surging and it actually really helping traditional retailers in the game against them but in the. In terms of any particular retailers that reported. Really big gains in the in the year are there any that stand out the city we had a really good on line Black Friday or Cyber Monday. In general Amazon usually had a really really strong back on Monday. They had another sales records this year it is not surprising at all because they always have a sales record. On cycle Monday. Unfortunately they also tend to provide some of the biggest there at that. So one of one of the bat that they mentioned has probably the only one that's really worth pulling out. Is a 180. Million items were what are you on. Between. Thanksgiving in Cyber Monday on Amazon.com in the United States which is again these numbers are like so big it's really hard to wrap your head around them. And one of the things that stood out man Amazon's numbers they bought whole foods back go last year. They sold a record number of turkeys during the Thanksgiving season and also had a record number of those Turkey's delivered. Directly to homes instead of having people come in the whole first pick Kamal. I mean that. Pretty impressive and also that's another effort from Amazon where they're really trying to convince people to use more online grocery shopping. Bet on so in the area that's been a little bit vote to pick up Amazon fresh which it and done. Local the world that are grocery delivery service has been around for more than a decade and hadn't really been running back quickly. People are buying more turkeys online maybe they're gonna be to convince people to do more grocery shopping online ruby types. Holiday shopping. Were you know special sales been like that. Very good Ben thanks for joining us say we appreciate it. Absolutely thank you that's been box Ruben from CNET talk about Cyber Monday sales for 28 teams. You know chuck the the reason that a lot of people do the buy online pick up at the store. Has to do with package that I guess it's become an a real problem. And I'm not talking about just in the inner cities and in bad neighborhoods you know you hear all over the country package that from the front door is is becoming. Like I watched the news is scoring every day. I'd say I had a package problem yesterday actually so I added ordered something from Amazon. And I've I've picked it up but as I was doing and I've reopen my front door to go win in the door swung in and hit the package over the railing. And so the package actually went down behind my bushes off my front steps. And so I got my wife to hold me by my feet my feet down. To pick the package up and then see poised to meet back up over the railing. So that's my issue with packages that I had to deal with yesterday it was at a church. Our it was quite funny for anyone driving by seeing you know does he's holding me by my ankles just as a picking this package. The ruling only four feet to the ground. Why don't you just walked down the stairs and go behind the bush and pick up the pack so I just put all my Christmas lights up there so I didn't have a pass through the lights and I didn't want to disrupt the lights because I thought I'd put them up very nicely. And so I I had no way to get back there. Other than her holding me by my ankles as I lowered myself down to pick the package I just do you videos that I know yesterday but I'm sure someone driving by took because you you couldn't miss geez -- apart red sweatshirt numbers. Dangling over the edge there. Good thing you Merritt area very strong woman yes you know odious. It did it is this type of thing happened do you frequently. And more than I'd like to admit. The committee chuck bush again. Yeah again and again or still Tucker as the case may be. The Dow rallying we've got a nice rally going on Wall Street today the Dow is up 200 in the points the S&P 500 is up twelve. NASDAQ is up 35 point to the Russell 2000 which is small cap index that's up six points and the price of crude oil. Is a six cents a barrel at 5162. We will see you tomorrow on the when he talks to.