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Full Show 12-20-18

Dec 20, 2018|

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This is the financial exchange with the very Armstrong and chunks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. He may have assumed that we would lead off with the story regarding the Federal Reserve in the stock market sell off that occurred yesterday you would be in correct with that you may have thought off. They're gonna start off of oil. We've got breaking news folks. The Washington Post is reporting. In this is just coming out a few minutes ago that the trump administration and more than a dozen. International allies are expected to call out Beijing. On Thursday that's today. On what they say are China's persistent. Efforts to steal other countries trade secrets and advanced technologies. And to compromise sensitive government and corporate computers this according to western officials. And I say chuck is maybe the best news we've had all year. I think Sonia and you look at this and of apparently the way that this is going to play out is that Robert Rosen Steen and FBI director Christopher Wray. Are going to be announcing these charges domestically in the US. But then later today it looks like you gonna have a number of allies including the UK. Germany Australia Canada and Japan are also joining in on this and those are big economies you know let's just go to Canada's not but. Japan. Germany German and you talk about top five top seven you know economies in the world now you've got a meaningful coalitions. And in this is the kind of stuff that I think really make sense and then what and what you like to see in terms of hey how do you build a eight case against China and also put pressure on them. To change their behavior is now you're not just talking about one country. This doing it on their own it's a we have the backing of if you take a look at. You know that the countries that we have here and you know you're you're talking in terms of your country by world GDP okay. You get the US obviously which is the visit the biggest you know okay about eighteen trillion dollars Georgia Germany and has numbers 35 trillion Germany's number for a three point six the UK's number five you know you're talking four bit but other than China you're talking the four biggest economies in the world can't say countries are you can't do this and other countries are gonna pile on the list. You you'll see other ones pile on I question how many others will just because I mean think about there's only so many countries the China is gonna be interested in getting technology and things from you know like it if you go to. Actually then that makes the Canadian addition pretty valuable because it does Canada. Has a tremendous technology base and you go to Toronto or Vancouver those two cities crank out a lot of technology in Canada and that BO think it was being smaller store the tenth biggest economy in the world. You know I mean it's also got a very well educated population and up when you look at their. You compare Canadian high school graduate to an American high school graduate Lisa stark difference yeah but it's. You know so I think you've got you know that the main targets for this kind of industrial espionage. Are these countries that are signing on to the CO. I highly doubt that you know China is doing significant spying on manufacturing capabilities of Argentina it's just not something you know that health. It just doesn't have to pay off they'll does with the US so what they will do track with some of those countries is. Do things to steal there natural resources. Yes and no vision all along or they they they did Donald lot of that and Africa with deputy who who what country hasn't had an Africa you know there's really you're like Africa is completely ports because been pillaged for the last 800 years. You know. So I. Think this is very positive know what it was surprising folks if you're like mean you've been tracking the story since it broke less than an hour ago. You watch the futures really decline in in this stock markets sold off on this news. Now it's recovery and seek with the stock market is looking at is saying the same thing that you and higher interpreting it says. Hey we have some friends because my big criticism of the president has been the fact. That we don't have any friends while I was wrong we have friends and this action in my opinion. Has Larry cut those fingerprints all over yeah I don't know if it's necessarily moving markets today based on this news topics. Really all boy I don't know the long term track. This is going to be something that people look back at twenty years from now concede this is a historic day. Yeah I don't disagree with that but I don't think you getting any movement to date the president. But what what what positive movement would would this create in stocks in the short term because I think most investors and correct me if I'm wrong. But I think most investors had the perception. That we were an island standing on our own against China it was too big juggernaut it's just been duking it out yet we're not an island anymore last few stock prices though well because eat the if I think if we went toe to toe with China. It it we would end up losers on that. Now that we're going toe to toe with China with our best friends we're gonna gang fight. Agassi you're you're an gang fight and you you walk in the Alley and tried to just looks at you and then all of a sudden you're ten big bodies show up. I just don't think it's like what why would it move stocks positively today you know like what what does it suggest about. Resolving tensions or any like big this is putting in enormous amount of pressure on China if you think the Chinese economy is bad now and stocks of sold off this year they've gotten major economic problems right. Now not only hear the dealing with a very unpredictable president of the United States. They're now saying she's gonna do with threesome today with the work with a Angela Merkel Wheatley like the there all the sudden. They are up against. This huge wall of opponents that they did not wanna get into a fight. I agree on all that. I just a guess they disagree in that I think I don't think it's having a meaningful impact on markets all down well I've I give Iran and maybe stocks sell off that. They're down 200 points twenty minutes. I mean this is a market that's moving now 108 points today it's moving but it is a minute right now doesn't this look good positive news to the I look at them I mean I I'd let misinterpreting that I love the fact that no I looked the fact that this is happening but not everything moves the market. Like this doesn't change any major story this is I think this is the best. Financial news I've had a year. And like this big a deal with right now all gosh I think he knows that he it would it does is I think many investors including me. Thought we all alone in the spike and we're not. And it back to Germany is coming in great Britain and Japan but he's no love lost between Japan China let's remember that yes just I just don't. Think it changes the calculate what what. Meaningful changed as defect in markets right now like these are companies going to make it on the next quarter deposit does not next quarter five years from now. Even organ market since it. This was the beginning of the fight this is with when the tide turned in terms of art trade war with China. When we were able to develop coalition. With other large economies and stated China screw you can't steal our food anymore. I disagree with you on that but markets don't care about five years from now. Oh they what whatever gets priced in five years from now we don't even have fed fund futures going out more a year like I just speaking up that delegate math errors today is speaking out of fed fund futures. Guy I I I think Powell screwed up yesterday again. You know by saying that we were gonna have a couple rate hikes next year. With your interpretation I know you read all the notes in the UPI. I I I almost has talked an affront this morning. I said it's all Moses it Jay Powell wants the hope the president and the guy. With the news the way he's managing it I don't know you know by and an alum I'm not I have my theories it. It and I I did get some Nielsen agree Jim police you know yeah. He he I said to sit him because he's politically tied to everything yeah Brady is. It's and he follows a somewhat more closely and I'd. Sid chip hasn't seen TU lake GA is say Jay Powell head of the Fed is saying to the president stay out of my business. I'm gonna do what I wanted to raise rates and not only am I gonna raise rates on that threatened to raise rates two times next year I know there's a lot of people the Deseret doctor Kareem and he said no barrier wrong. Who's right. Jim Kerkorian and. You government necessarily right or wrong what I think is really interesting is what how old did hear so the Fed had been guiding for three rate hikes next year that that's what they've been saying all years they were gonna have three more hikes in 2019. And I think part of the value debt. The Fed can actually provide the markets. Is not. Allowing itself to be whipsawed too quickly by anything that's going on over one or two month time span and being a little bit more consistent in its approach. In so I think part of this. I think when it's also and on the Fed's hiking once next year. It's just that how old does not want to make that move all once because then let's say that things come let's say the market rallies back 15% and does pal all the -- able genealogy hiked twice this like. I don't think he wants to be in a case where he's that depend on the market so much is all the other data that's out here is my criticism. Then I wish he would just shut up and say when and when asked about future rate hikes. The correct answer in my estimation would be I don't know it's going to be dependent on the economy. There's a there's something to be said for that I do think with what the Fed has gotten into over the last decade they've embarked on this whole communication policy. Procedure where they try to tell the markets more and more and more. And and I do agree that I think less is more when it comes to the Fed they go in take your action if you look at what fade statements used to be back in the ninety's. It was two senses as we decide to rate tight race height raise our rates this month we're gonna make meet again in six weeks to see if we need to again. Those medals in those of the good old days under Alan Greenspan and then he wouldn't intentionally. Make statements that had no meaning it any knowledge that when he left office and would what I'd like. Is just a scenario where they say it we don't know organs do an action and the fact of the matter struck. They're always wrong. Remember back it was at 56 years ago when they weren't raising rates but they only said they're gonna raise rates the economy -- we know the economy's gonna get better so we're gonna raise rates four times next year the end of the year would come around and raise rates at all. Yep yep. I I I agree that I think their communication gets a little too over boast and gets a little too down and the we'd sometimes. I don't think that he's going back involves two people come to expect it now new zone fortunately I don't think it's changing. I'll tell you what I I. The one thing that I do have to say about this. I know that as people focus on the stock market we obviously want the market to go up and we want the Fed to be accommodative because it helps stocks to go up yes. Fed's job is not to help stocks go right their job let's remind every. Their job is to control inflation. And to work towards full employment. And so if you look at this has employment in anyway be negatively affected by these rate hikes were we don't know to leave it hasn't been that. Has he shot back it's too early to tell you've got to let this weekend but has it been affected to this point by any of these rate activity hiking for a year and a half. Win. Has it how long of mortgage rates been going about your behalf. Know all and written here and a half and I'll go back helped pull the data for. I mean this thing going on pearl confused mean with facts so here's what I have to say about this is as much I want the Fed. Personally and to start you know easy cutting rates it's gonna help the the the mark Newton. Actually behaving responsibly and here's the really interest in that I'm not saying I want them to cut rates all I want them to do each shot up here's the really an SE CF view is not a thing. It is it is yet and that's turned out. Here here's the interesting thing about this. When's the last year for all the talk in the beginning of the year and I said this two for old talk about all of it tax reform might be giving too much to corporations not enough to middle class and so forth. Here's the really interesting thing about this year. When's the last time you had labor outperformed capital. We labored has been getting screwed for thirty year but here's what I'm saying when is the last time you've had labor out probably seventies. It's it's been awhile. It's nice to know it is you can be as critical as you want of the Fed but the fact is. Wages are up three point 1% this year and just about any capital asset is down in that is good for workers in bad for capital owners of the it's a really interesting thing when you point that out is people like. The the stock market isn't the economy we've said that remember back in 2009 and ten when the market was recovering Evans of dodging the markets recovering economy still Sox. When Alex hit the market struggling. But workers are actually getting paid staff in its main street vs Wall Street so I I told you guys this two years ago I've mailed street who's gonna get paid I don't hate office. I donated either up next are we talking about oil. I love it but I hate we'll talk about that and more whenever. Mean this there's the charts graphs and numbers all day and just listen to us it's the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio network. There are many benefits to early estate planning among them keeping your assets under probate and protecting them from the nursing home but did you know did you also might be able to eliminate your state taxes Tom let's -- coast of illegal exchange radio show and senior partner with the law firm of Cushing and Dolan is an expert on law taxation and estate planning he educates his listeners by telling them how to maintain and protect their assets in this month he has a brand new guy and they'll show you had to increase your beneficiaries inheritance by decreasing your state Texas and in some cases eliminating those taxes rescue leads an experienced team which has been helping families like yours with their state claiming for more than thirty years call right now to get tons new guide called asset protection strategies at 8668485699. Lead time limit team at Cushing and -- and help your family the way they've helped so many others colleague 668485699. That's 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed dot com. When he eighteen has been a rocky year for stocks all three major indices at one point or another slipped into correction territory reports depending bear market are still running rampant in the media while some out there may be wary of a major correction I want you to be ready for hi this is Mike Armstrong and we've got a brand new guide at this month that's designed to help you understand the major factors that can lead to a significant market correction to got to identify several core factors each of which you should pay attention to an -- help position your assets in an effort to maintain a successful investment strategy this guy is available right now by calling 803934001. Take necessary steps to protect your interest regardless of the market performance call my office right now get your free guide the signs of the stock market correction an 803934001. You work hard to build a strong portfolio don't let volatility throw you off course 803934001. You can download the guide right now at Armstrong advisory group dot com. Terry suffered 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 I everybody it's Barry 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 again if you guys are providing. Two point 05%. EPY. On that account how do you do. Yet it's one of our most. Popular. Retail banking products buried so. It's it checking and savings companion Oka and if you qualify. You get some great reward so for example you're 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 get ATM reimbursements if you use in other things he Tia. 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 a breach network yeah he's in need yen. It doesn't have to be leader -- or if you call fights pretty simple unions to have your direct deposit owned the bank at least 12100 a month for you need to use. You use you count at least ten transactions a month incentive for these statements oh. 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. Bounces up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them online leader bank dot com. It's called the Zuma. Rewards account CU GMA. 8776917. B 900. Security suffered through securities America each member Sandra SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated we have part of the financial exchange in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24 sevenths right here on the financial exchange radio network. We're gonna get hit with a polar vortex at the end of December which could be any day it's gonna goalie minus fifty degrees or so. But it with with its cubicle to be called on nova minus fifty. To feel like I've been in wind chills that cold before skiing and stuff like that well that's anyway so on the that from that perspective. We know. It's gonna get cold yet so cheap oil I liked because you're going to be running your heat all night. It's down a dollar 36 in the big question comes in wise it is downed over supply or is it down due to weakening demand. Everything I've read and again it's it's always hard to tell what's real and what's not and energy but everything Everett is companies to button and and that's a dangerous situation as you get demand pick sides squared away now but. You still get so much production coming on line dividends of offsetting that so it doesn't necessarily matter. Overall when you look at where oil is right now. You know that the two benchmarks that we have we've got domestic west text intermediate which is about 4692. Movement in and get Brent crude which the global benchmark benchmark which is it 56. 04 at the moment that spread is wide and a little bit. In recent months here but. Both of homer off in about 35%. From their highs at the moment. In both of her pretty much at fifteen month lows right now. In the fear that I have is of me of we get too much lower you kind of go back to the battle days of early 26 team where prices were 27 a barrel of what. Look like at what level. Really starts to hit us from capex perspective capital expenditures what. Well brace is it at 42 now it's it's it's you're seeing impacts there if you look for example and I'll talk and where we hit the ball ghetto but he his. Here are we getting Permian bases and in the low thirties it it varies so if you look at the bottom core top produces in terms of the lowest cost to extract their below 31 dollars a barrel they're not affected by this. The top court tile though in terms the most expensive ones that region are north 65 barrels so lake. They're already sitting there saying everyone that were pumping world lose and if we have had done any of our exposure there so. You've got real questions. In terms of you know how quickly. Things start to come off line there. And the other thing is with all of the capex that's still yet in the pipeline that's already scared aren't on purity contract. So the estimate is that we're gonna get up north of twelve point one million barrels day in the US and 2090s extra 500000 barrels coming on line to tighten the screws to Saudi Arabia yes so you you've got that coming on here and so I think there's big questions as far as. What happens to capex going forward. The next couple months are gonna be really really critical as bars you know getting some data on that and what it shows in the ISM reports are really good for shown. All right we're talk about tipping. Is important topic. I hate tipping from the perspective. Is it it's not my responsibility to pay people the right wage. Like that's what employers for now pay your employees the right way on on pay your employees the right way. T eight like tipping because if you tip the tip well batters or it shouldn't be like that it is. Certainly that's true colors and I do I feel I tip. Mighty might lift driver of a Eden and after they do that blew up what I ever you go eat you guys know you have a reading with lift yeah. Lee do you want a good rating to crack at a good driver bad I'm not saying I don't tip actually tip really well but I hate having to do because it's not my responsibility is your spots because you wanna get better service that's I tip my postal workers while you're tip McDonald's worker. In that. Like a fast food or to a fast food place I don't I don't really when you you do go to McDonald yes or to the night denied that accusation. When you go to Wal-Mart you were to cashier to baseless you have to cashier. At Christmas night will tip catchers but we got a regular basis. Because it's not your responsibility. They're supposed to pay them a living wage so I just. I I tip well because I feel almost how much do you give the post. The them I don't to Mellman you know you're not by low of you to leave to the mailman and now. She's she. Make a lot of money. And they want cash badly collector waste chocolate and beer couple times that that they want him. They might now legal it is north of twenty dollars legally only needed any cash and I looked this I don't I don't you know again. A computer work ten issues he'd look up a bill that some on the US one dollar value of twenty dollars at the chocolate Joseph Obama can not give them cat among the USPS web site right now. When he oodles of greenery doing you know among the yes web site. I don't know. Anyway our poll question is do you tip your bail year letter here with cash if you dull your cheek. That. I I tiger attack at the illicit you know I don't know a whole pouring rain they're going to be walking around delivering your mail. I don't. That's our poll question do you tip your mail carrier and ask him for Christmas. The website address this financial exchange show dot com you should tip them with cash cash. It worked hard to everybody. Life goes on FaceBook and followers on Twitter. Show breaking business news is always first right here on the financial exchange radio network. The state planning can have many benefits especially if it's done early it's extremely important to protect the assets that you worked so hard to retain him but he didn't know that if you do your claiming the right way you might also be able to eliminate estate taxes if that sounds too good to be true it's not. Todd let's keep a partner with the law firm of Cushing in Dolan is an expert an elder luck. And has been helping families of their estate lending needs for more than thirty years he's written a new guy that's out this month called asset protection strategies Bennett you'll learn how to protect your assets keep them in your family avoid probate and increase your beneficiaries inheritance while reducing and in some cases eliminating your state taxes fishing in Dolan has a long history of helping families like yours with their state planning and he can help you to call right now to get tons new guide called passive protection strategies and 8668485699. That's 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed time John. 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Net when he eighteen has been a rocky year for stocks all three major indices at one point or another slipped into correction territory reports depending bear market are still running rampant in the media while some out there may be wary of a major correction I want you to be ready for hi this is Mike Armstrong and we've got a brand new guide out this month that's designed to help you understand the major factors that can lead to a significant market correction to -- -- -- several core factors each of which you should pay attention tuner and help position your assets in an effort to maintain a successful investment strategy -- guys available right now by calling 803934001. -- necessary steps to protect your interest regardless of the market performance call my office right now get your free guide the signs of the stock market correction an 803934001. You work hard to build a strong portfolio don't let volatility throw you off course 803934001. You can download the -- right now -- Armstrong advisory group 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 -- checking and savings account picked him providing decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is Barry Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. Minimum deposit to open an annual percentage yield is two dollars two points or 3% interest rate messrs. until late fees reduce earnings re subject to change without notice leader bank a step ahead member of the icing. In medieval times sharp says was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Eighteen missing major ups and downs and stocks but also look there remain concerned about pending bear market you need be ready for one this month the Armstrong advisory group has a new guide and identify several core factors that you should pay attention to that may help position your assets this guide is available right now by calling 803934001. That's 803934001. Or you can download the guide right now Armstrong advisory group dot com securities are protestors American corporate remembers the -- DC advisory services are protestors Merck advisors incorporated parents are represented a strong advisory group mysteries record companies are unaffiliated. Time now for the street watch a look at the market's performance so far today to marry in shock right here on the financial exchange radio network. And it is time for Wall Street watch brought to you by leader bank leader banks precious metal collection. Makes great holiday gifts and they're selling one ounce in 110 ounce silver and gold bullion coins. It all their locations and if you buy the points any branch. Leaving gift wrap of the free. To co leader bank today at 8776917900. Or visit lead bank dot com for more information member FD. I see. Eight Dow's down hundred in 41 points the S&P is down seven. Etsy NASDAQ down eight crude oil trading down one dollar and 36 cents a barrel 4681. You don't wanna look at the ten year treasury what do you make you ten year treasury to 76 it's good for Tucker I could talk Tucker mortgage rates are down a good quarter percent. Yeah they've seen mortgage rates I think the average thirty year mortgages gone from like 516 down to 49 in recent weeks and you might even see it down in the 48 rains low low for rates at some point in the near future. Which could even start generating a little bit of refinancing activity that's really dried up over the last year you know you get a little extra people might have taken mortgages out in the last year to you know so it will go back to previous levels were still 33%. Below year ago right now but you might get a few percentage points that back at least just you know around the edges I think. Only 33%. Of our listeners to their mail carrier. With cash at Christmas we are a number of text messages. Area I tip my mailman and I get the very best service 97 it says that. I don't tip the mailman because my route is exemplary sees a different mail carrier retirement accents. 413 chimes in Barack don't tip someone for job on people doing myself in deliver food can drive a taxi. I can do and cut my own hair I did however tip my urologist. The causes I can pulverize admin kidney stones. That's accurate just you know it always idol finally it's is always ticker roofer. Year old has probably didn't need to have you know anyway they just that. That was interest in that did you see this. Breaking news from mile London by the way we do about Gatwick airport know what happened they've been shut down for thirteen hours because someone or multiple someone's are flying drones around the airport all preventing planes from taking its success in. Yeah would rather do it. So they've been pretty much shut down for thirteen hours now and I haven't heard any clarification on who it is or how big the drones or how many of them but they need those guys that shoot the geese out of Logan Airport. You're seeing those guys haven't they actually exist. You know no I didn't happen in the future they actually Schumer just shoot near and so they scatter know they kill. Allied in nova net all the airports they have guys that are out that's their job now at the end of the runway but the key thing out. Peace. Yeah. Very Donna Reed in terms of like dumbest animals they've got to be up there sequels are Smart you should Siegel their buddies welcome back. No it's true is it geese and you'd just dumb animals anyway. Newberry College putting machines with what's gonna happen at campus ten acres of primary state so no one's quite shore in and part of it is because it's currently zoned for a nonprofit like. A college but obviously you're back in avenue small college has come in now and intake the space so dilution buys BC. We'll trade down the street from piece of miles away from Boston but apparently they've said the campus spokesman for BC Jack Dunn and visited BC's not interest and even though they had tied that a bunch of baloney to me unity. Really playing possum here well everyone's interest at the right price or they might just be trying to get that price down to what hit what they're looking for the sport. There's got better connections and then. And Britain probably noticed that ever and here's a DC guy yes. So you know BC obviously makes and since there's there's chatter that hey maybe get a developer to come in but then you have to do a whole bunch re zoning and who knows how well that goes you imagine the neighbors they know not one bit more than again they live next to a college right now so now how much worse than anything else big. You know you know who has final say on this is more if you. Oh it and realize that it's a nonprofit and she's the AG and the interest and pretty tough supplies that if you interest. GE's stock surges. After report of an IPO plan for their health care business what to do it today. Today just a little down today only quarter percents are still 764. After surging couple percent yesterday while he would last name ultimate IG now is the coast clear we back to back days where it actually rallied in total. About 10% C had a couple nice days there where the stock did pick up nicely. It's looked GE is not a stock where you say hey don't touch ever. But if you're buying it you just gotta know hey there is significant risk here there's a reason why it's sold off 70% in the last year. And it's not because everything's hunky dory there's so there's a path to them getting out of the situation there in a lot of unknowns right. Lot of unknowns everyone I've talked to have talked to more and more people in the last couple couple weeks about Larry COLT who's the new CEO there. It's really positive things and efforts. He's never done a turnaround no he he never has. So this is easy if the problem as you could find out. That they built turbines in Ukraine. And finance them and they haven't been getting paid for years and they have booked a loss you know I got that that's the kind of thing that goes on yeah you know you certainly could but. Everything effort about Cole has been positive and so you know unlike Flannery where he came in and you really hear anything and always GE guy that was kind of bit. This land along more than the last year. Which tells either big problems there so. I think part of this is if you're if you're looking at GE. Get to know cope and understand what he's done what his specialties are and if there's a pass for the use those at GE. If you think there is maybe take a flyer but I think he's the most important factor when considering that company now. Scholar rock. Has signed a deal with California based Gilead Sciences that will pay the Cambridge Biotech company. Eighty million dollars up front to help discover and develop treatments for diseases that scar tissues and organs this according to Boston Globe. Yes other headliner originally thought it was talking about the old Jack Black movie school of rock men and turns out to Biotech company. That is as you mentioned based in Cambridge it's really focusing on. You know a lot of these diseases that cause scarring so anything like diabetes that causes scarring of the liver the kidneys. Things along those lines. And so pretty much if they go further along in some of their milestones. They're eligible for additional one point four billion but obviously that's a long ways down the road race depending on hey do you meet your milestones for treatment and progress and so forth. But it's you're seeing more and more of these deals now with. Larger companies where they say okay we don't wanna do all the drug development ourselves. Never ask yourself why but you look at the resources at a company like Gilead hats and you say OK they're gonna rate check for eighty million dollars to scholar. Couldn't they developed something soon like white light of these big pharma companies. Just got buys. The research as opposed to developing it in house I know they do a lot of development in house but it seems like over the last ten or twenty years. That trend has been in which is being great for Boston by the way. Bit the trend has been you know the everything's entrepreneurial. Part of me wonders I think you're right on there and I think part of it could be just that a lot of these researchers are realizing hey if I don't start my own company they may get a better deal and I think that's why you're seeing a lot more MIC funds a lot of these they do the other schools love to fund these kinds of things always naked they make. Yeah huge money now via. They coming up or be talking about candidates again till rays in the news that's next on the financial exchange. Does this in stunt to oh your portfolio. The financial exchange with Barry Armstrong in jokes done well on the financial exchange radio network. When he eighteen has been a rocky year for stocks all three major indices at one point or another slipped into correction territory reports depending bear market are still running rampant in the media or some out there may be wary of a major correction I want you to be ready for hi this is Mike Armstrong and we've got a brand new guide at this month that's designed to help you understand the major factors that can lead to a significant market correction to got to identify several core factors each of which you should pay attention tuner and help position your assets in an effort to maintain a successful investment strategy this guy is available right now by calling 803934001. Take necessary steps to protect your interest regardless of the market performance call my office right now get your free guide the signs in the stock market correction an 803934001. You work hard to build a strong portfolio don't let volatility throw you off course 803934001. You can download the guide right now and Armstrong advisory group dot com. Dirty suffered the securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. There are many benefits to early estate planning among them keeping your assets under probate and protecting them from the nursing home but did you know did you also might be able to eliminate your state taxes tablets -- -- of illegal exchange radio show and senior partner with the law firm of Cushing in Dolan is an expert on law taxation and estate planning he educates his listeners by telling them how to maintain and protect their assets in this month he has a brand new guide they'll show you had to increase your beneficiaries inheritance by decreasing your state Texas and in some cases eliminating those Texas lets you leads an experienced team which has been helping families like yours with Thursday claiming for more than thirty years call right now to get tons new guide called asset protection strategies at 8668485699. Lead time limit team at Cushing in -- help your family the way they've helped so many others -- 668485699. That's 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed dot com. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier -- in the property management roles they space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's 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. 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The market has been extremely turbulent and 28 team the Dow NASDAQ and S&P have set new records and then slipped back in the correction territory yet uncertainty about future performance remains in strong concerns about an impending bear market continue to worry investors hi this is chuck Donna I want to alleviate any anxiety you may have your portfolio won't survive a significant market correction clearly we can't predict if some wins but we can't prepare and that's the focus of our brand new guide this month we've identified and number of key factors to keep an eye on that could contribute to significant market correction including over valuations in the market and rising corporate debt to receive your free copy of our new guide the signs of stock market correction call 803934001. That's 803934001. Or you can download the guy right now that Armstrong advisory. Dot com securities offered to securities America incorporated members and SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's our daily poll question had financial exchange showed Doug John. Vote your conscience. There heard just vote go to financial exchange oh does come in castaway. So ray shares. Are up nine point 4% today at 77. Dollars a share. Now that's not their hide you know you look at this the hot sun of a gun in lost 52 weeks track and look at it this. The 52 week range until rate which is a Canadian candidates company. Is anywhere from twenty dollars a share to 300 dollars a share. Yet we quit the wild ride for shareholders this was stocked IPO back in the the summer in July new. And cut it tread water for about a month and then you know I had some announcements and September. And shot immediately up to 300 and then pretty much right back down to in the 60s70 range after the just because of that they don't actually have any kind of meaningful sales. When you see a company like he'd be in bed. In investing a hundred million bucks in this company you've seen the chromeless deals and he had all these deals right. Does that tell you is that you eat it's I'm interpreting that as meaning that candidates is going to be legalized nationally. In the United States. And I'm and and it's gonna happen. As quickly as I'm thinking 2122. So obviously AB InBev has significant international operations to be any deal of this size could certainly pay off with out it being legal in the US which I think part of the reason why it's of this size and not something bigger deal. That they're certainly. You know that the stuff that we've seen over the last few months suggests. That there's going to be a ramp up in lobbying pressure on Washington politicians to try to get it legal at the federal level that the. The the you look at a guy a the governor of New York Andrew quo right via. Him turning face on that and saying that three years ago using anti cannibals yet now they're gonna have legalized recreational canvas. In New York State. They're talk and like memorial. If this year. It's the it's certainly is coming I don't know fits by 2122. Just is that he looked at the toll numbers yet the polling numbers are really strong for. But when the federal government to anything on time him. You know you raise good by just feet made the political pressure on presidential candidate they like if you're running for office rate would say. Nobody gets that question. Just another broken campaign promise you know it's like coming promises to politicians make it never happens you don't get a better idea promise to legalize or they unit promised to keep it illegal. Why I think in most states now if you're running the promise is going to be to legalize note if you're federal candidate he run for president United States how do you address. That really matters says the I think most people people vote on that you know it's a split on the medal yet I don't think it's really a voting usually mean it's split down the middle. In terms of boy actually it's more so we're favoring. Legalizing it's a 634%. The nuts. The visit being geographic split though yeah you're right and so idea because of that you're still gonna see some candidates Tuesday. No I'm not really in favor or do you do it where you know your presidential candidate says I'm in favor of it in the vice presidential candidate says not in favor Connolly yeah abortion. And it's not really a wedge issue in the in the sense that a lot of other things are. You know it's not it's not something that people care that strongly I don't think so now it's it's I look at it and I put it you know will down the list of the most important issues that are out there at least if you look at how most people tend to vote in. Then marijuana legalization is something I think a lot of people would like but it doesn't get people to the polls of yours don't you're not dropped. And it's. We shouldn't so well they boosters ought to folks all trying to think outside the box when it comes to giving gifts gifts for special occasions. So this year I'd encourage you to call leader bank a bank US why would I call bank for gift well first you're Smart person and second if you've heard us talk about leader banks incredible assortment. A precious metals. You can visit all leader bank locations from Arlington all the way the seaport in Boston. And they've got one ounce at 110 ounce silver and gold bullion coins at all their locations and other precious metals are available upon request. The site to purchase can be as Smart in meeting for investment in addition to being a great gift for someone that you love. Call your bank today 8776917900. And learn more about their precious metal collection that's 8776917900. Or visit the monoline leader bank dot com for more information. Not a deposit not FDIC insured not insured by any federal government agency not guaranteed by the bank may go down in value leader bank a step. You know a year ago I didn't know what Jules was JE UEUL. Now I'm learning that the company's worth thirty billion dollar. Yet Altria is getting pretty close taking a 35%. Stake in the you cigarette started out that. Would have been invest about twelve point eight billion dollars making them worth about 38 billion enterprise editor and I haven and that privately held. And but it Altria becomes the largest stockholders and 35% yen in the air on track for about two billion dollars in sales this year so this is a steep price that Altria is paying when you're paying twenty times sales that's a big chunk of change what does that tell you. It tells me either Altria realizes their current business is dying and they need to get something different. And also the elderly kids I guess are used in jewel BJ not just jewel but it elect the the let's exploit as it is approach people like me they don't know what the heck it is. I don't know entirely so it's it's an electronic cigarette at a battery operated cigarette it vaporize as a liquid or wax in order to give you something to inhale that's not smoke actually edit. Clean is that it's healthier than smoking sick yes. And so it's claimed to be healthier but there's not really tunnel long term research on the chemicals that are and it and modernize its actually healthy but it isn't a nicotine. Nicotine intake when you do a very very high relative to having a cigarette so there's way more in each of the pods and the pods last for significantly longer then a cigarette the house of the pods are meant to replicate a pack of cigarettes and so there is about fifteen to twenty times the amount of nicotine in one cigarette those pods and but he'll take an old 1 PM city. But it is obviously mean nicotine's highly addictive and so it kind of gets you hooked on this obviously. But we don't really know you know the long term safety risks or the benefits. Of using something like this so the fact that Altria is doing this pay they know that they've got the declining business in conventional cigarettes. They know that you know kids are moving more in this direction three million of them three million teenagers using your soul for high schools it is all over place is it had to power the high school's dealing with this like they treating it like you're smoking cigarettes because that's I don't know that I don't know and I'm not sure what they're doing at this point. The non howling and part of it is it's real or not. Now dollar brokerage and I don't know I don't part of is it's really hard to see if someone's doing this is these guys are they going back and smell these things are tiny. Like there they're like you know the size of a flash drive. So it's hard for people CO Acadia actually how lake wears a cigarette you can smell it you make if you go to the bathroom have cigarette. You know you for the arts sticks her clothing you know you know for the rest of the month that you've had one. While in it teacher walking by is gonna pick up on yeah so the I guess one of the things when it big benefits to do focus. But people wanna jewel to stay independent the people that work there it started the company wanted it to remain independent but Altria. Is gonna have. Access to shelf space. The distribution there's gonna be big so yet they're paying to any lobbying efforts yet so they're paying twenty X you know the multiple there for sales. A federal six sacks they know they're on track for two billion dollars in annual revenue in the companies being value thirty billion all icy day. So it's it's a steep Chong that they are paying for it. But their thought is look if we can double revenue in the next helped each of the next couple years than they maybe it's really only a 45 X multiple we go out but imagine if these things get bad and rightly equally that. It could turn out to be one of those AT&T acquisitions it could that's that's the potential downside to this real rusted out. Problem Altria houses and people are not spoken cigarettes no. Which is a good thing from our neighbors back everything from health bureau of the shareholder and poultry work there and ask the good. Past a doctor he's a client of ours in any cardiologist and he smoked studied what is. Things was to study the impact. Of smoking on partial. An estimate that you know with them because the last time I heard I asked about life expectancy in cigarette smoking yeah and well when I looked at an actuarial table. It looked to me about seven years. On it and from an actor a table yes when he asked a doctor ask a medical doctor how many years off your life to smoking a cigarette smoking cigarettes at. He told his seventeen years. It's a lot of big chunk you know especially when your bike you don't have that many years left so you lose seventeen of the does give pro rated or anything like that and enough. And the it's a little scary. In in terms of life expectancy. Your frequent flier mileage. Might be losing value the airlines air dirty bloggers I think. Yeah this happens pretty consistently whether it's devaluations on an annual basis or now or expiration of your miles expired miles and now what they're doing is with these new based economy fares they're taking what used to pay for normal economy fair. And make you pay that in terms of mileage for these and so your miles don't get you the same seat they used to. Very well the market. The volatility in the markets maintained. You know it's up on the way to Dow's down 170 points the NASDAQ down 27 points. Russell 2000 which has been hammered the judge the Russell's down about 25% if you. Crude was down a dollar 744643. We'll be right back with the war. On the financial exit. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead the state claiming can have many benefits especially if it's done early this extremely important to protect the SS that you worked so hard to retain him but he didn't know that if you do your claiming the right way you might also be able to eliminate estate taxes if that sounds too good to be true it's not. Todd let's keep a partner with the law firm of Cushing in Dolan is an expert an elder luck. And has been helping families of their estate planning needs for more than thirty years he's written a new guidance on this month called asset protection strategies. And it you'll learn how to protect your assets keep them in your family avoid probate and increase your beneficiaries inheritance while reducing and in some cases eliminating your state taxes fishing in Dolan has a long history of helping families like yours with their state planning and he can help you to call right now to get tons new guide called asset protection strategies and 8668485699. That's 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed time John. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates and New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who are ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. Thing get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC's equal housing lender MLS armor 449250. Subject to credit approval leader bank a step ahead. The money matters radio network WB MW 11:20 AM and W 275 CM FM good Boston the money matters radio network. Fights chuck and Mike from the financial exchange we're talking today about the signs of a stock market correction with market volatility up significantly since the start of October. It is something that is on the minds of many investors and Mike. One of the questions that I think people have today is is. A little bit more expensive than they have been on average when you look at the price of that stock compared to how much earnings they are expected to generate in the future in terms of where we stand compared some of those averages are there any numbers out there that are concerning to you right now. Well you know one of them is that if you look at the case Shiller price to earnings ratios average stocks right now are trading about 84% higher than a longer term average going back yea you'd really have to compare to say the dotcom bubble back in 2000 deceit. Had just how overvalued stocks are in now compared to times in the past. In it doesn't necessarily mean that things ballpark today or tomorrow but it is just another data point that you have to be aware of there as he goes through. Your investments folks we do have a guide available it's titled the signs of a stock market correction. In all you have to do to get it is call 800. 393. 4001. To guide is free to get in once again the number to get that guy is 80393. 4001. Or you can also downloaded for free at Armstrong advisory. Dot com once again that's our strong advisory dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. In medieval times sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. When he eighteen has been a rocky year for stocks all three major indices at one point or another slipped into correction territory reports depending bear market are still running rampant in the media or some out there may be wary of a major correction I want you to be ready for hi this is Mike Armstrong and we've got a brand new guide out this month that's designed to help you understand the major factors that can lead to a significant market correction to guide identifies several core factors each of which you should pay attention tuner and help position your assets in an effort to maintain a successful investment strategy this guys available right now by calling 803934001. -- necessary steps to protect your interest regardless of the market performance call my office right now get your free guide the signs of the stock market correction an 803934001. You work hard to build a strong portfolio don't let volatility throw you off course 803934001. You can download the -- right now -- Armstrong advisory group. Dot -- securities offered to securities America incorporated members in SIPC and advisory services -- with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities -- companies are unaffiliated the market has been extremely turbulent and 2018 the Dow NASDAQ and S&P have set new records and then slipped back into correction territory yet uncertainty about future performance remains in strong concerns about an impending bear market continue to worry investors hi this is -- Donna I want to alleviate any anxiety you may have your portfolio won't survive a significant market correction clearly we can't predict if some wins but we can't prepare and that's the focus of our brand new guide this month we've identified and number of key factors to keep an eye on that could contribute to significant market correction including over valuations in the market and rising corporate debt to receive your free copy of our new guide the signs of stock market correction call 803934001. That's 803934001. Or you can download the -- right now that Armstrong advisory dot com securities -- for -- securities America incorporated members and SIPC and advisory services -- with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities -- companies are unaffiliated. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to zoom -- businesses that number again is 8776917900. Or visit them online at -- bank dot com -- Posit two opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce earnings were subject to change without notice leader bank a step ahead member of the icy. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your. Stay informed and today about economic and market trends plus breaking business news. It. The initial exchange with Barry Armstrong and age so. Our lead story today has to do with China that trump administration in more than it. Doesn't international allies are expected to call while Beijing. On Thursday they just did it actually. And for what they say are China's persistent efforts to steal other countries. Trade secrets and advanced technologies and to compromise sensitive government incorporate computers. This according to western officials and to this I say it's about time. Yeah I mean this I think and in the broad scheme of things when we look at it as far as you know the long term outcome of the US China conflict. I think it's gonna be remarkably positive just that you have other countries on board here for the first time. At least publicly on board for the first time right reunion. With us and we had something of this scale and I am member anything Atlanta or anything. Isn't this the the the new kind of warfare as well they when you think you can't have shooting worse anymore rate in United States and China are not gonna start lobbing. Nuclear missiles to police I sure hope no it too I think that's kind of an unlikely outcome at the moment at least. What is interesting though is in terms of you know us think about it over the last hour or so since we first learned this in and Jennifer saw what was happening here. And while I think it's gonna be really beneficial in the long term him. I do think it's the kind of thing you could shortcut and undercut some process Ian. Progress in the short term or it could absolutely cause you know global recession you know the I I think you're spot on there and I think. The guitar it's might be measuring but it's a case in in here's kind of how I look at it is. If you or something whether you're working at a company maybe it's your family or something let's say you have someone who's doing submission to doing indicators misbehaving your Evan employee whose gun you know and in is doing something gross to do. It may be more painful for you to punish that person lay down the law. At first and against the you know you can have bad nights in your house you have bad days your company when he tried to replace that employs production or something like that but in the long run. You're going to create a more sustainable environment and that's that I you gather from this and. And doesn't this put a tremendous amount of pressure on China. But I applaud. Our administration because Whitley what it does from my perspective. Is it it's. Just a week ago my big criticism of the administration was. Unity pissed off everybody else in the world nobody likes us and we're gonna gang fight with China. And and we're gonna lose now all of a sudden people behind the scenes have been working with Germany have been working with Japan they've been working with a Australia Britain Canada. It in you you've got to assume countries like France and Italy are in on this. Yeah I just I don't think that pressure is of valuable theme here just because I think that when you look at what is going to be the troops terminator of what the outcome is what between the US and China. It's not who feels more pain than it's who's willing to feel more pain. Units even go back to look at every major war that's ever been Faulkner. It's not won by the person who was less to lose and it's won by the person who's willing to go to a deeper darker place in order to win. You know that's like that's kind of the unfortunate part of warfare in economic warfare is no different in that respect it's hey if you got the will on the resolve to stick it out longer than the other guy. And that's that's where he could be and probably drive and you gonna win because in China operates like. Germany in 1939 AIE if you dissent follows suddenly start saying things negative about president G. Or you know you Seiji we've made and we should have free trade with you to say here you'd you'd get taken away by the Nazis you overnight you do not color not to what they call and and earnings I don't know. I don't. It make you know I think most people would say in retrospect to World War II. T we should put an end to that back in 1935 for nineteen to four as opposed to killing fifty million people it it. And that's why when I walked at this okay not comparing it directly to World War II obviously. But you look at this you say look if you have problems that you need to deal with in the world. You darn well better deals than because they're only gonna get worse that's right that's exactly right so pay me now our Pena holds slightly except the fact you're gonna have some pain as you try to deal with this. But I do agree that in the long run this has the potential to be a really big turning point. The Fed raised rates yesterday you knew that because the stock market declined to think the Dow's down 350 points yesterday I was off about 501 points or railing off those lows of 900 point swing. It big swing I mean big swing and you get an additional couple hundred points down today down 1821 the Dow at the moment. Which really interesting is the the massive things that it that are selling off today. You know normally and it they receive big sell off then it's okay you've got energy selling off need to materials and financials. Biggest losers today. Consumer discretionary followed by consumer staples those things don't usually trade in tandem like. So you've you've got these new strange bedfellows as far as what's moving in what's selling right now wouldn't we learn from the Fed yesterday. So there's a couple of things that I take from it number one the Fed thinks the economy is strong enough to withstand further rate hikes. That's beyond what they did get to yesteryear they may be wrong on that but they're saying cave right now we think the economy can handle at least two more hikes next year that's really what I had was what what's the benefit to racing its picture so here's where I am at on the situation right now is I view this. Let's look at it through the lens of what we're just talking met with China. Is the Fed will and take a little bit of pain in slowing the economy now and if it prevents a bigger bubble from blowing in bursting later around. And that's kind of how I'm looking at it is you know this economy this year. I just elect their language and I wish they would just say. And we you know we raised rates because we thought it was the right thing to do here and you know we're worried about wage inflation unemployment might be too low. And so we raised rates quarter report we don't know we're gonna do next year. In early and for years date the Fed has. Did wrong with their anticipation right the Buick how many years would be wrong and they said we're gonna raise rates four times next year in the end the year they've restraint total. So here's another reason why I think that they're doing this is your spot on that the Fed had a credibility problem for about six or seven years is still have occurred. They've been doing exactly what they've been talking about any in this is part of the reason why I think Powell is doing this. Is because he's saying look I'm going to follow through on what I've said I'm going to do. And in that may be his undoing. That may be his undoing. But at least when the Fed is saying something now. The back it up with action do you think yell and would be doing anything differently yes you do yes Mort of yes and yes. Oil I don't know what to do today is hit a fifteen month low yesterday so oil right now west Texas intermediate down 4% today to 4624. We're dip into the danger zone on it for producers in no. Way to its soul it's gonna be so cold I know it's not that cold right now. But next week. You know I forward this poll polar vortex are you not only in Indy it's it's going to be windy and it's going to be like minus fifty. It's it's like terrorist Hemingway novel the time for your backyard hockey. Alia. Yet at the powers over tonight. Cheney conduct IDB a lot of grip on the F it's you know not be folks down west palm center. After a little as Texas strong enough. You know maybe an adequate if we get are really strong polar vortex this year you know. I don't think that's happening but yeah I mean you got that it's this cold weather that's supposed to be coming in at some point. I don't think the forecast for most of the northern states though it is not sure when up there yet and just the East Coast. I've been looking even at East Coast I'm not seen anything any of the numbers not seen any Temps in the teens even so ten day fifteen. Pretty angered nobody early or I had it for about twelve hours but other. See if you go out ten or fifteen days that he you know good meteorologist is going to be pretty accurate yet much beyond you know 1520 days flip of the coin Yemen itself. Anyway coming actually let's talk about Carlos Gomes. Carlos goal and board member may soon leave a Japanese jail. The the Japanese. With with dared do matter if you followed the story or not I told chuck at the beginning I thought this was a boardroom coup I don't think the Japanese. Like having the French in charge of their companies who were spot on with that now be the arrested. Carlos go on they arrested an American which really has taken people law. Kelly who was Nissan board member now and still see the way he did it. Oh yeah I mean pretty much say the effectively it was almost like a sting operation were just kind of be you know they knew their pronto her c'mon over we we wanted to talk to. And so you know they even said are you able send a corporate jet to pick you up got him over there and then there you go that was pretty much it. No lawyers no way that no no who accessed outside counsel. V you know you I think he wonders if they're sticking bamboo chutes under the fingered it's it's certainly is not. Be a pleasant process what what's going on here because notice and these guys when they come out policy the first pictures as they walk at a president Geoff since November 19 one in in Japan you have the ability to quote. Re arrest someone and bring new charges are you know after release and you can hold indefinitely if you just keep bringing new charges and if they say if if they admit guilt right. Then that then they'll be let out cities think these guys have rolled. Reading the tea leaves it sounds like it. You know this is terrible if you look at between I don't like you are talking about may be releasing them soon it they they must've done something you talk about due process right. You can eat it there and jail cell. It will be a guy Kelly is sick he would end up in needs medical care. Ends the Dick they're not let him talk to there were any there it's like. The oldies like 1944 Japan yet see it's it's not good what you're seeing here. And you know this is one of the things went when he talked about doing business internationally one of the things that you have to be aware of is well there are different legal structures in different countries. That may or may not off you anywhere near the protection that you get in the United States Tucker you you win a free trip to Japan eagle. Yeah allowing I would I would go to Jameer has doesn't take away the thought OK you know OK you win a free trip to China cardinal. Now right now no well no no chances and that China by the way arresting a third Canadian citizen in. Is in retaliation for the wallet we'll here's the other thing with the announcement from the DOJ today I wonder if you start seeing US citizens or maybe even citizens from other countries being picked up as well you can count on. You can count on it. When we come back will be joined by Paul Kiel from pro public though we're going to be talking about the Internal Revenue Service and the budget cuts that they've been undergoing during the last eight years that's next on the financial expect. Sure it'll work. Everything business and finance it's the financial exchange with Barry Armstrong and chunks are on the financial exchange rate he'll never. Work when he eighteen has been a rocky year for stocks all three major indices at one point or another slipped into correction territory reports depending bear market are still running rampant in the media or some out there may be wary of a major correction I want you to be ready for hi this is Mike Armstrong and we've got a brand new guide out this month that's designed to help you understand the major factors that can lead to a significant market correction to got to identify several core factors each of which you should pay attention tuner and help position your assets in an effort to maintain a successful investment strategy this guys available right now by calling 803934001. Taking necessary steps to protect your interest regardless of the market performance call my office right now get your free guide the signs of the stock market correction an 803934001. You work hard to build a strong portfolio don't let volatility throw you off course 803934001. You can download -- right now and Armstrong advisory group dot com. Juries are for to 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 America companies are unaffiliated. The state planning can have many benefits especially if it's done early it's extremely important to protect the assets that you worked so hard to retain it but you didn't know that if you do your claiming the right way you might also be able to eliminate estate taxes if that sounds too good to be true it's not Todd let's keep a partner with the law firm of Cushing in Dolan is an expert an elder luck. And has been helping families with their state planning needs for more than thirty years he's written a new guidance on this month called asset protection strategy spin it you'll learn how to protect your assets keep them in your family avoid probate and increase your beneficiaries inheritance while reducing and in some cases eliminating your state taxes fishing in Dolan has a long history of helping families like yours with their state planning -- he can help you to call right now to get tons new guide called passive protection strategies at 8668485699. This 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed does come. Hi this is very Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on homework meter bank specializes in a wide variety purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. And get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC's equal housing lender MLS number four corner and to try to zero subject to credit approval leader bank a step were all trying to think outside the box when it comes to giving gifts for special occasions so this year I'd encourage you to call leader bank you can visit all leader bank locations from Arlington to the seaport in Boston and they've got one announced in 110 ounce silver and gold bullion coins that all their locations and other precious metals are available upon request these types of purchases can be as Smart investment in addition to being a great gift for someone you love cult leader bank today at 8776917900. And learn more about its precious metal collection. By your coins in the branch and get them gift wrapped right then and there get a head start on your holiday shopping call right now 8776917900. That's 8776917900. Or visit them online a leader bank dot com for more information. Not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. The financial exchange. Is Cole a brutal England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed Doug come and find the station closest to you. This is the financial exchange radio network. As promised joining us on the line now is Paul Gil from pro publicly here to talk about. But really what's happening at the IRS with regards their budget in what it's turned the agency in to Paul thanks for joining us they we appreciate it. Pocket dug a little bit first just in terms of what has happened to the budget for the IRS over the last decade what kind of impact have we seen. Yeah so that it two billion dollars men today's dollars at that point and what the cuts started. The enforcement staff has been cut by 13. And that just means they're able to do so with audit are down battery down by more than 40%. That are simply collecting you were debt in the used to no good reason except that is that your people to do it. Actually impact across the board in terms of how many actions that he you know that the. So let's talk about is that the two errors that come to mind for me where you see probably most violations you have. Effectively what I call you know the farms of fraudulent returns where someone might submit you know 200 or 300 returns from one address. Trying to get tax credits and something like that. Ian you know a known fraud something along those lines are we seeing any changes as far as enforcement. In being able to go after those kinds of things. Yet ID theft was a major major problem and it got a problem that really hit I would state I think that many years ago it really peak. Which unfortunately with the same time the budget was being class that'll sort of thing and again what can agree that we like here it is to get a hold on. But they're really struggling with that and it really is a Bloomberg their criminal enforcement. They are. You bird but it can be read certain to you know be paid you that issues that they were doing. Park you're the other types of work national activation that it. But there there were a lot of changes they put him in terms trying to verify people that anything like that in my understanding at bat. At the peak of that problem has passed although it is still but the thing that as a position. So in terms of then deal with China the more conventional audits that we think of where. You know someone takes a bigger charitable deduction that they may then they actually made or someone. Tries to use a home office deduction where they don't have a home office. What kind of numbers are receding as far as agents that are actually looking at those types of things and what types of recoveries we've seen. Yes so revenue agents that are the audit the auditors to do that kind of more complicated sort of work there and a comparison Beecher is. They're now fewer than 101000 that it region that the service in the last time that was true it's three. Last time it Hewitt to that he and on the people get a reaction well you know on target computers now but it is really depict people are on. And you want people oddity you don't be audited by computer off on it kind of system you know they. But they happen to be very frustrating on and still to come to the auditing business owners. Corporation. That's where at the drop in the number of ribbon region has been helped the most than. You know comparison we drop the heat is they're built to bring it about ten billion dollars less each year in revenue growth from audit. Which effectively means there are a ten billion dollars in taxes that people that there. Paul I know that it's not popular to talk about. Giving the IRS a bigger budget is people would typically think oh gee you know I'd prefer to pay less taxes if possible. But is there argument to be made that if you have better collection going on than the effective rates for taxpayers who actually don't do anything fraudulent would be lower than. Yeah that's one of an argument people make or bird for beating up the terrorists to make sure that the effective tax rate. Are our what they'd been to the on paper. And also to the fairness argument in one thing that he is that. An area and enforcement has gone out of people is going after people did not file the tax return. And because it is really resource intensive. Get credit people track and out of them a video of it. I'm that's just bought off able I don't think anyone think that. Read on the Garrett no longer really stealing people did at. Paul what is this done anything as far is changing. Then make up of people who were at the iris or long time people they're discouraged and leaving are you still seeing. You know people with experience to be able to go after these types of tax crimes are they still sticking around. Yes and people can understand their whole careers there. But yet there really elderly. The public that the work but it really older workforce over about a murdered by the employees are eligible for retirement. Com and the real year is that people are leaving without. You know training the people behind you so draconian and then. There's a lack of training to everybody for training and that it kind of pick up these PowerPoint slide and restore about uncomplicated action out that way. Though there's the concern is that there workforce that is meaning it is. Not as well trained. And that's it for taxpayers that can make or worse experience I can make it would it reinforced now that. But could make dealing with terrorists more people. Four in terms of people or do. All right very good Paul thanks for joining us they we appreciate it. Well Paul Kiel from pro Republican talking about the IRS and if you want it if you pay your taxes you want to be strong virus or if you're cheater no don't. It's and it's fair that is having eight capable IRS doesn't mean you know Serbian pay any more or less tax you doing what you're supposed to do I think people associate the iris though we have to you know have more agents means higher taxes. No it's not necessarily know he didn't effect could be the op exactly. Baseball Major League Baseball and the players union reached an agreement with Cuba's baseball federation to create a safe. And legal path for players from the island nation to play professionally in the United States now. There have been a lot of Cubans that have come and played Major League ball but the BP had to literally sneak him out of the country. Yes some of the stories are among the scariest that you've seen you know people crossing the ocean little you know you know tiny boats and stuff like that. They're getting their families are threatened they're getting threatened by smugglers or if you don't pay us more money we're not in multifamily CU leverage Gagnon of these kinds of things so. This the primary thing this does it provides a safe pass for Cuban ballplayers to get to the United States I thought it was all about the money. Quality like you don't get me. Don't get me wrong it's about the money when it's all said and it did. Because the Cuban baseball federation is gonna get paid yeah I Major League Baseball it's gonna be supportive system that's set up with Japan were effectively have a posting fee that's paid to the Cuban association in order to you get these. Players and that's how hockey works T. I didn't know that then you get a Russian hockey player out of Russia seems you draft discussion in the first round second round yet. You wanna bring over here yet Iraq I didn't know that Alia. I didn't know that the year indentured servants in in hock was unaware that hockey and he sees the US earned Saturday and I knew every day you go to exchange up next we're going to be talk he'll talking about. Population growth in the United States for the lack thereof. The financial exchanges 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. There are many benefits to early estate planning among them keeping your assets under probate and protecting them from the nursing home but did you know did you also might be able to eliminate your state taxes tablets -- coast of illegal exchange radio show and senior partner with the law firm of Cushing and Dolan is an expert on law taxation and estate planning he educates his listeners by telling them how to maintain and protect their assets in this month he has a brand new guide that we'll show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminating those taxes let's -- leads an experienced team which has been helping families like yours with their state claiming for more than thirty years tolerate now to get tons new guide called passive protection strategies at 8668485699. Let time -- team at Cushing and dole and help your family the way they've helped so many others Khalid 668485699. That's 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed dot com. In medieval times sharp says was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield. The more you prepare for more triumphant yeah. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. We're all trying to think outside the box when it comes to giving gifts for special occasions so this year I'd encourage you to call Peter bank -- bank you ask why would call bank for Christmas gift well first because your Smart person and second you've heard me talk about Peter banks incredible assortment of precious medals -- this is very Armstrong you can visit all Peter bank locations from Arlington to the seaport in Boston they've got one ounce and 110 of an ounce silver and gold bullion coins at all of their locations and other precious metals are available upon request these types of purchases can be Smart meaningful investment in addition to being a great gift for someone you love cult leader bank today at 8776917900. And learn more about its precious metal collection that's 8776917900. Or visit them online at leader bank dot com for more information. Not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead this is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Wednesday with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit www. C Rand dot net to learn more we see rent your payments for each unit received regularly on the same day every -- tenants pay nothing in the first six months or free throw landlords visit WWW dogs he -- -- meant to learn more or call 7816418691. Why this is chuck and Mike from the financial exchange with volatility up over the course of October and November. One of the big questions of people have is how much worse could the stock market correction get Mike. Simpson issues that are out there one that's really been in the news tighten trade tensions what what's the latest on what we're seeing in trade. Yeah absolutely I mean certainly nothing has. That said we started to wrap ups and negotiations with Canada Mexico. A lot of negotiations with Europe have pretty much been dealt with. And when you look forward you do have to ask. How bad could things get but also how good thing could things get if trade tensions either get worse or better and the big the big question has to do which the second largest economy in the world. And yeah if trade negotiations go worst or China that I would have concerns about this stock market currently. But the length of this bull market that we've seen is that something that should give investors pause. Well yeah I mean right now technically speaking we are in the longest bull market. In history and that would be a time period time without a 20% market correction but you know as you can point out there have been several other periods of time where markets have lasted a really long time. 19872000. Pretty much went that entire time without a 20% correction although there was in nineteen point 9% correction or inaccurate. Folks the guy that's available this month is titled the signs of a stock market correction in this volatile market gives you some things to look at try to figure out what's coming next. Spree to get in all you have to do to get it is call 800. 393. 4001. That number again is 80393. 4001. Or you can also download it at Armstrong advisory dot com once again that is Armstrong advisory dot column. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. You might not be able to keep up with all the latest business and finance news but we. There's the financial exchange with Barry Armstrong and chuck soda on the financial exchange radio network. And it's time to play trivia Tribune's Rajiv by the Armstrong advise. With markets still volatile now's a great time to read you your investment portfolio call 800. 3934001. And set up your free no obligation consultation today. 157. Years ago this week the medal of honor was established as a provision in public resolution. Eighty two's signed into law by Abraham Lincoln will be asking trivia questions about the medal of honor and if you are. The listener with the correct answer to the trivia question you'll win a fifty dollar gas card. Lois will select the winner. Which military branch was the first to award the medal of honor. Stumble though that he Dina. And now I don't think so anyway. Our text number is 63566. I would remind you put my first name at the beginning your Texan would be Barry BA are awry. Then 63566. And then. And only then the correct answer to the trivia question which is which military branch was the first to award. The medal of honor a degree a lot of response to that question. I did that that idea. That that's a home run question. The United States population grew at its slowest pace in more than eighty years. That's what way you look at me on this one now as usual this is the fault of your windows you know. You guys aren't even have an enough children to report teachers doctors trying to. The US population grew in the past year at its slowest rate in over eight decades with growth. In the south and southwest. Continuing to outpace the northeast and midwest where anything so geographically. Differentiated. They were lost. You know blew out west it's expensive and yet they guess in the united I don't know. The numbers which cover the year ended July 1 showed that the country's population rose. By point 6% to 327. Point two million people that was the lowest rate since 1937. Yes and I'd I don't know why geographically it's not make sense I mean obviously. The two key reasons why you're not seeing people having more kids now on eight it's way more expensive to have minutes of open. You know waited their just their money and it's there and in beat. I think that's in terms of caring for children today to also market you have a lot of you know if there was were both spouses are working and you know. Part of that near page is I guess it's more money in that and that situation where. You know it's not as easy for one spouse to stay home and take care of the kids and raise the kids before they get off to school. I've been talking about this for ten years and you know I think I've made the conclusion I'm coming to his. Ari it's not gonna turn I don't think all of the sudden you're gonna have this baby boom Lisa is nothing that I see in the horizon. That says all the sudden the United States is gonna start. You know cranking out lots of babies I just don't see it. In terms of investing. I would think real state is something that probably gets hurt by the lack of population growth. Are good for what reason cleanup and need as many homes let's assume that you have Americans buying homes. Right you know what if you do if you would if you have people all international buyers who were buying them now. But he still lick you you look at our economy. It we've we've never had. The that's a slowing. Birth rate in the one economy that has assisted developed nations Japan and their kind of he's been in the toilet. Thirty years yeah I think it's this key difference is there a in terms of natural resources and access to them and things like that. And the the other key thing that and we know immigration known the other key thing I point out on real estate. There still certain markets that are gonna hold value just his people are gonna flock to them instead of other ones now we're talking yesterday about how Ohio in the last forty years the real state now is going out with right percent total current whereas if you look at DC it's complex 600% so. There's certain areas they'll still have value in the but I do think. Lower birth rates it's gonna exacerbate the move away from truly rural areas in towards new cities where you have jobs just has I think those rural areas as they continue to get how about men have less kids. Stimulus jobs there. What is it ever change the political landscape you suited does to house seats and in India you get some change coming after the 20/20 census or Rhode Island and lose the seat now you'll be down to one seat in the house. One seat I thought they had I I for some reason I thought every state was guaranteed two seats in the house and they get two seats in the senate. But yeah Rhode island's pro gonna lose the yes so it's it's pretty much some just don't throw and see what they say don't lose legacies of the Illinois Michigan Minnesota New York Pennsylvania Rhode Island and West Virginia. You know many states have one seat currently. It's eight of them. While food malaska. Delaware. Montana North Dakota South Dakota Vermont Wyoming Hawaii and notes are wild when was the last Uruguay's got to. Because it's based on population for your house yep it is and Rhode Island has been as high as three back in the 1910s. But and it's pretty much been that too since then. The fascinating things actually look it just like how some of these states have developed a California I'll give you an example. Back in the 1850s. Only had three seats in the house. Receipts the house in 1950 permanent 1850 even in 1950 look at California. They had thirty seats in the house than they get 53 now. Yes that's a big shift there the blustery continues to fall by the way other states you've seen big declines over that same time period. New York State's gone from 43 seats in the house down to 27. All. I well Massachusetts just lost to see you you want another big it's big one Florida is Pennsylvania's gone from 33 down eighteen in the last fifty years it was Florida. Where the heck is Florida a year ago Florida. Good one here fifty years ago eight seats today 27. Population growth you know just like exponential growth there. Another state that two other states that are kind of moving in that direction Georgia has gone from ten up to fourteen now not nearly of Arizona numbers air zone and yes Arizona in the last sixty years gone from two up to nine. So they're going through that as Arizona's still grown they hate the use still have a migration. Two errors on yep you do and trying to see if there any other big ships among any of the top states here Puerto Rico's population by the ways dropped 14%. Since 2010. You want talk about the hollowing out of the midwest and Ohio is gone from 24 seats to sixteen. Illinois got from 2718. And it's just tells you what's weird the migration happening and where it's coming from and the northeast as well. Be in New England region has been decimated yeah I mean if you Massachusetts same kind of thing fourteen seats down to nine in the last fifty years. Losses losses to go to Connecticut and here's where they stand Connecticut at a Max of succeeds there'll identified so not huge shift there action. Americans could pay 2.4 billion dollars on their credit card debt as a result of the Federal Reserve rate hike yesterday. Demos credit card debt tends to have. Interest rates that are floating in tied to view the Fed Funds rate primary. Alive or any one of these numerous rates they can adjust overtime. And so as a result of yesterday's rate hike. Typically things like the primary and so forth and that moving up on this and so that means that based on the amount of debt that's outstanding. A company called compare cards has figured out. That the average or I guess in total. You're likely gonna see about 2.4 billion dollars more in interest expense for the next year. Based on the one trillion dollars in credit card debt that's currently outstanding and number of. Ari coming up we'll have the answer torture of your question will also talk about how the value of your home. Might impact how much of your tuition bill has to be paid that's next on the financial exchange. And include. Reid chuck in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network there are many benefits to early estate planning among them keeping your assets under probate and protecting them from the nursing home but did you know did you also might be able to eliminate your state taxes tablets -- coast of illegal exchange radio show and senior partner with the law firm of -- -- Dolan is an expert on law taxation and estate planning he educates his listeners by telling them how to maintain and protect their assets in this month he has a brand new guy that we'll show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminating those taxes lets you leads an experienced team which has been helping families like yours with their state claiming for more than thirty years call right now to get tons new guide called passive protection strategies at 8668485699. Let tonne in the team at Cushing and dole and help your family the way they've helped so many others colleague 668485699. That's 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed dot com. Were all trying to think outside the box when it comes to giving gifts for special occasions so this year I'd encourage you to call leader bank you can visit all leader bank locations from Arlington to the seaport in Boston and they've got one ounce. And 110 ounce silver and gold bullion coins that all their locations and other precious metals are available upon request these types of purchases can be as Smart investment in addition to being a great gift for someone you love co leader bank today at 8776917900. And learn more about its precious metal collection by your coins in the branch and get them gift wrapped right then and there get a head start on your holiday shopping call right now 8776917900. That's 8776917900. Or visit them online a leader bank dot com for more information not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate -- homework -- bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. And get your great rate on home mortgage cold now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC's equal housing lender MLS number four corner and two -- -- subject to credit approval -- -- a step ahead when he eighteen has been a rocky year for stocks all three major indices at one point or another slipped into correction territory reports depending bear market are still running rampant in the media or some out there may be wary of a major correction I want you to be ready for hi this is Mike Armstrong and we've got a brand new -- -- this month that's designed to help you understand the major factors that can lead to a significant market correction to -- identifies several core factors each of which you should pay attention -- and help position your assets in an effort to maintain a successful investment strategy this guys available right now by calling 803934001. Take the necessary steps to protect your interest regardless of the market performance call my office right now going get your free guide the signs of the stock market correction an 803934001. You work hard to build a strong portfolio don't let volatility throw you off course 803934001. You can download -- right now at Armstrong advisory group dot com. Terry suffered securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Security suffered a securities America ain't member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from. Tech Steward Barry's 263566. And let us know what you think about the stories we disguise your team to the financial exchange radio network. The naval branch introduced the medal of honor in 1861. Chuck followed by the army in 1862. And finally the air force over a hundred years later. In 1965. The winner on this question it was Jay from Boca Raton Florida and and trivia is brought to you by the Armstrong advisory group with markets still volatile now's a great time to review your portfolio call 800. 3934001. And said your free no obligation consultation today that's 800. 393. 4001. We have someone text into what they might just misunderstood the question is for whatever reason they text in Cabbage Patch Kids is the answer that's what I thought allows. And I'm not sure that that's a branch of the US military yeah so there might have been a misunderstanding yes when director of listening to. I digress Annie. Did you know that the value of your home. Can impact how much tuition you have to pay to the college to choose to Ted I had no idea yet but I thought home equity was. Sacred. And it really depends on the college but Stanford University. Earlier this month's announced that it would no longer consider the amount of equity in a family's home. When determining how much this will expects them to contribute to the cost of college. Now there are other schools that you may have already been doing this and so forth but it it really varies you don't necessarily have a good take you know before you apply because IB. You know some of the and you apply to school the school and then they say while. We were gonna give you financially but we realize you 2000 equity Disco Bora that. Yeah ability and targets of that there's I think some confusion because when you're applying for federal loans OK that's one set of rules and an individual schools may have a different set on top of that. As far as their specific grant programs now they considerate so. You know federal rules I believe don't look at your home's equity was two primaries or federal would be the facts are correct but if you're looking if you know if you're applying specifically for something just from Stanford they may have previously looked at a win now they're not going to how many schools are blind in terms of when there accepting applicants we go. As temple just went with the donation from Bloomberg. In Harvard's blind Arthur young gun portal list right now there's there's more schools than blind meaning that eve they don't look at your financial when you apply. So the list there's a whole big list of schools that offer. Need blind admissions. But there are some that also will demonstrate your meet the full demonstrated need so. Schools may have need blind admissions but they also might not cover all your expenses and admit you anyways. But the ones that do. You wanna go through the whole list as a bunch next couple. Dartmouth and on that Harvard obviously it's just because they're rich school needs more money than everyone else. Some schools that aren't necessarily as rich as you would think. End up on this list as an example as an example have referred Newton on the day of the huge endowment or anything like renting Northampton. Don't know Kenyon College is on this list you know they're not someone with a huge endowment or anything like that. Northeastern news. Antsy Rice University down in Texas yes him. Who's gonna given the once it's in at swarthmore. It was an expectancy. Tom's kind his college. Who else is on the list here that understands at University of Rochester. And UNC Chapel Hill. Vassar College now does come some of them once stand out against so they do. Folks there are many benefits to early estate planning among them keeping your assets out of probate in protecting them from then arsenal. But did you know the also might be able to eliminate your state taxes Todd lets you host of the legal exchange radio show and senior partner with the law firm. Cushing and Dolan is an expert on wall taxation and estate planning. He educates its listeners by telling them how to maintain and protect their assets in this month got a brand new guy that'll show you how to increase your beneficiaries inheritance. By decreasing your state taxes and in some cases. Eliminating those taxes. Let's deal leads inexperienced team. That's been helping families like you with their state planning for more than thirty years of call right now to get tots new guide. Asset protection strategies at 866. 848. 5699. That's 866. 8485699. Or you can download again right now at legal exchange showed dot com that's legal exchange show dot com. Not a great data looking your investment portfolio folks at S&P is down 41 points. The Dow was down 350. Points nasdaq's off a 144. Points Russell's down one and a half percent settlement done we'll get oil. Oil I've got oil down now 5% today. Yeah I mean that's that's not good on oil that's got to be demand issue that is not good at what you're seeing I think did this this fear. Over the news. Trade war with China and the fact that the United States hasn't ruled few allies. Is making traders very nervous in the short term I thinks. Oh and by the way we are now in terms of that the of distance away from a bear market in the S&P 500. Not just about a 112 points the way so. Little bit more than 4% now away from a bear market in the S&P five on Saturday bear market being defined as a 20% 20% dip from the peak yet so. Every haven't had no one you know that you. It they beat the good thing is if you heard a long term investor you don't care right this is just no race. That if you're not a long term investor. You know the the disk could be some in the make your partner is an even if you're long term investor looking still things that are nerve racking to go through you know just his accuse you sit there and say gee my 101000 turned into a house and make 80000 turned into sixty you know like. It makes you nervous like I get that. But it it's all about look if you don't need the money now anyways still looking forward to death this Saturday easiest thing to do was just not to look. Bloomberg is gonna be resuming their self driving car tests in Pittsburgh. Jeff. On a very limited basis that the fact that it is still limited really I think speaks as to how far they've fallen and how little confidence they have in this program right now. It's gonna operate on a fixed one mile track between their two offices. It's only going to work during the daytime during weekdays. And speed to below 25 miles an hour from. They're gonna or are they go over work prior to employees and every car not just one now. And that suggests that they've did that throw to not to anywhere near prime time. If they're doing so with label. If they have some kind deal with them and beat those companies really get along well no but remote took some of their cash settlement in the form of stock in Denver. Just don't know what the value is for the there new CEO over there me yeah you know they do that. The tide has turned over it has I just wonder if way Mo wants to go down that road again and you know Google's company that likes to kind of not only everything is that different from apple that respect that they license their technology and far greater scale look at android operating system as an example. So I don't know if they'd wanna get more involved in terms of hate they want to you know get more involved in operations at Hoover's something like that I wouldn't be surprised maybe they licensed the technology at some camp through communities there could be some kind of long term it'll be surprised EC announcement that affect. Here's used the guy has no interest is Alvin they've picked 250 million users and assuming there are women. I'm not a frequent user gonna have used to before would use for mainly used it for cocaine. Like to follow a recipe year Daschle some minds sometimes like men's fashion or so but I'm rarely on interest according to use that he step is 79 point 5%. Female users now. About 20% men that is up from only 14% men back in 2013 so besides recipes when else it is OK I never really understood my way fused at four wedding planning as an example unifying speech she finds stuff on line it's like to just the appended there and says Noonan she's talking to me you know someone who's helping to plan Wednesday OK this one I'm looking for here's what I'm trying to do you not helping me. No so it's like it's what not for me so if. You know you're making a wedding board. You can say hey I pin this on my wedding board and you titled to board wetting bored. Then your friend can look up that. Pretty much NC like what is a virtue. It's it's almost like a place where if you find things on different web sites you can put him on one place or someone conceal those things and one play yes. Go public next year. Talking about it and twelve billion dollar IPO guessed it it could be a significant. IPO that's happening here. They're poised to watch generate revenue north of 700 million dollars this year. To its dubious devaluations but who's on them. They are losing money. That it would make sure. And it reminds me in 1999. Little bit ten of them rushed IPO before whether everything falls apart him. The Dow is now down 366. Points and nasdaq's off a 102 points and the S&P is down 29. Thanks for tuning in will be back tomorrow at another edition of the financial history.