Jan 11, 2019|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with Barry 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 economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and chuck saga. We'll its Friday here and we've seen five straight days of gains in the stock market that makes the the biggest winning streak that we've seen. Since September after really a somewhat depressing October. The mediocre November and then it complete collapse in December so it's good to see markets getting off to a decent start this year. Slayer horse they're chuck. Or I was ahead of what's coming our and it and in general the the what I've always learned that forget what movie exit believe it was game of the rose that said this originally anything that comes before them but doesn't really matter there so. Where I was going with this was saying blocked. Remember that last year the first fifteen trading days we sell markets up anywhere between seven and 12% depending. On the market you're looking at it 2018. Turned out to be. Really just a bad year for just about every asset class out there so just because we've seen a few days early gains here. I think. Doesn't necessarily point to a larger recovery underway. In asset prices over the course of this year. Talks on a Mike Armstrong talkers over here today. Big news that we had yesterday and it's where wanna start off Mike is. We had Jerome Powell speaking. In Washington DC to the economic club of Washington DC in a curious to hear your thoughts on what you gleaned in in terms of what you felt was important on its. I think the important takeaways that week and now would definitely conclude that Jerome Powell loves the word patient. He used the words five times in the interview in a very short period of time talking about how they're going to approach interest rates. Increases. David Rubenstein really tried Ted nail him down what was gonna happen the first quarter obviously didn't wasn't able to do that but. Yeah the key takeaways Powell seems to have done a pretty dramatic shift in his language saying that. It really trying to keep a critical eye on the markets it sounds like to me trying to really reassure Americans that hey we're not going to just. Raise rates Willy Nilly we're going to be patient and we're gonna really look at the data. I think that Jay Powell. Riveted dramatically and I think it's because you realize that he does is between a rock and a hard place when it comes to. Where's the US government gets its funding from going forward here here's the big thing that I think policies. Is if you look at what is critically important to the US economy today. It is the stock market I know no one wants to admit that. But the stock market is more important to the US economy today. Then I think it any time in its history simply because of the size and scale of it now if you look at you know with relation to GDP and how much makes up at the moment and also because of how a lot of compensation is paid out today. In the form of stock based compensation because we've incentivized app because of accounting rules. And so because of that. I think there are some really really. Critical problems for the US in a number of areas if the stock market goes down for a prolonged period of time today number one. Being that just about every other asset price tends to quarreling with the now give you an example. This is from someone by the name of Josh wolf. Who is a venture capitalist out Ian San Francisco and he was looking at data from REALTOR.com. And here's some of the stuff that he saw in San Francisco in in the San Francisco real estate market in the last couple monster. The inventory. Of homes for sale in the San Francisco Bay Area. Is now up 110%. From a year ago. Okay and I focus on San Francisco because most of the the growth there is funded by these hyped like tech company that the other stock is the currency. Number two. Price cuts in the San Francisco Bay Area. Are up 425%. From a year ago at the OK big number. Number three median asking prices in the Bay Area or negative. For the first time in over seven years the change year over year is negative and asking prices for homes in the Bay Area down over a 100000 dollars year over year. So you've got some big issues there but more importantly if you look at the pension obligations not just private companies but also of municipalities. You know what you're talking about cities states whoever it is. They are all largely tied to the stock market and you know the fact is that during the good times that we had in the markets over the last. Eight to nine years you have not seen pensions take any steps to shore up their balance sheets in any meaningful way now and so when I look at what how was doing I think he's recognized the reality that pay if I don't do something to keep markets afloat. They are not going to stay afloat on their own and that means some really bad things for the United States. He talked a little bit about to happen. The United States' deficit as well which is enough of that he's really touched on a whole lot at least not recently but that was preached. I take that as well as there's there's two signals that I found really interesting number one Powell saying in the quote from him. And this is what he said he said he was very worried about the massive US deficit and the big thing that I take away from that is he's starting to realize what. I think people kind of look at the background over the last year or so which is. The US potentially as a funding problem going forward since foreign buyers of largely dried up for US treasuries and so. The question is can you finance that domestically and how do you go about doing that and I don't think there's a very good answer for that right now. The second piece here is that it's when it comes to. The the unwinding of the balance sheet what the Fed is doing right now. Is remember that during quantitative reason they bought up about. Four and a half trillion dollars a bass it's largely US government bonds and mortgage backed securities the run winding up by about fifty billion a month at the moment. They said in their meeting minutes that the the Fed Funds target rate how they try to set interest rates may become volatile as a result of that. In to me that suggests they're saying look as we pull liquidity out of the market. There might not be enough reserves to meet demand there might not be enough buyers so we might lose control of the yield curve actually that. They're saying there is not that we might not have enough demand for all of this debt that's out there if we're not buying it ourselves. This like this is unprecedented this is the kind of stuff that's. Suggests that you are getting towards a period where we have what's called regime change in markets where the forces that used it to kind of be true. All of a sudden shift in no longer are true and it's something that happens quickly it's not something happens. Over a gradual period of time. It's something happens quickly like in 1971 where the US goes off the gold standard includes goes in to ten years of inflation. Those the kinds of things that I think investors need to be preparing themselves for just because. If it's a possibility now likening Europe that the chief of the Fed coming out and talking about this stuff. When did you ever hear Ben Bernanke Janet Yellen are Alan Greenspan talk about office near you. You didn't and I would like to disagree and I really like to think that trump how has not terribly concerned about what's going on the stock market. But think about his commentary that what is. I'm guessing September. That we are far away from neutral on interest rates yet. It's a complete and utter reversal from that it. And I'm not saying that scowl. Should or should I I'm not saying that I like the fact that he's focused on the stock market and a perfect world I'd love to see the market be able to exist independently and have. You know actual price discovery for company's actual companies have to survive on their own. But I think howls looking at the masters when it comes to. The United States economy and I think he sickness and oh. Late I don't think he wants to be Paul Volcker where he raises rates deceive the dollar and throws the US economy into a tailspin is I don't think. There's a path forward then for a lot of municipalities to pay pensions for companies like. I did this between you and me in the enters if we do it just forget about the stock market from and yes it is just ignored the last you know and a hundred days of performance and stock mark okay what's changed to him about the core of the content between between September and January this. You you have station came down a little bit. You have seen internationally more slowing aka bouquets I think the international market itself it does have to be considered. But in terms of the domestic markets. Haven't really seen any like in terms of the domestic economy. Hiring still strong right now which we know it was a delayed fuse. Housing has been so long but it was Sloan back in July delegates you know revenue you haven't seen any big pivot there unemployment continues to. Remain strong day and I'll tell you what you have had an in maybe this is just because you can't completely strip away the effect of markets sentiments come down. Yep and and that's that's something that does matter because right humans as emotional beings we always like to say oh we make perfectly logical and rational decisions we don't word dumb or make emotional decisions all the time I'd do it Tucker does it might doesn't anyone listening does it too and if you say you don't well then you're not really being honest with yourself Aruba. So when sentiment comes down. It has an impact on give me an example. When president trump was elected if you look at all of the business sentiment readings that were out there they went through the room. Overnight they went through the roof now economic activity didn't pick up overnight. But oversee the six months afterwards it didn't pick up to match that sentiments of sentiment kind of lit the economy forward in that case. There's a chance that you could see you know downward sentiment caused further slowing in the economy now but. I I think. When we talk about the Fed right now I don't think we can talk about this enough to be on tonight I don't wanna make this whole show the Fed it is. To be on that kind of suck for yes it's like they're here it would it would just kinda sucked but. I think that this is something that's really important that every investor needs to be aware of heading into this year not because it's gonna matter right now we're tomorrow. But at some point it will matter. And you need to pay attention to itself. Let's move on from the Fed talk because I think that's enough for right now on the Fed and let's look at the US China trade talks appears that president GE's top aide from China to be coming over to the US for talks later this month yep well. Hood looks that way believe it or not actually be the government shut down shut down could actually get in the way of this Richard B. Terrible but it nonetheless it sounds like that's going to be happening towards the end of this month. And if the same the same items -- on the table nothing was really figured out during the visit over to China but it sounds like at least those conversations are cordial enough to have the negotiations continue. And we keep creeping towards his march 1 date. Yes a lot obviously were were getting close there also be no but the clock is ticking on breaks it and that obviously is gonna start making people a little bit nervous as march 30 threat march 29 and does the latest out of the UK is that they have no idea what the attacks going on stale so their there's that so it does appear there's incremental progress being made on some kind of trade deal with China we'll see how far reaching it may or may not be. But no real update on breaks it yet as far as any meaningful progress there let's take a quick break when we come back we're going to be talking about. Apple as they try to plot their course forward after a disappointing. And to 28 team that's coming up right after this break. No need to stare at the charts graphs and numbers all day just listen to us it's the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio network. As we age long term care or something to make sure you plan for how quickly would you arrest since being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average customer private room at a nursing home in New England is just under 135000. Dollars per year than average cost is expected to increase to over 181000. By the year 20/20 eight if you were a loved one are faced with an unexpected nursing home study when you haven't done your claiming yet before you write that check. Pick up the phone and called experts at Cushing Nolan at 8668485699. Cushing Dolan has been helping families just like George protect their assets for more than thirty years and they've put together a brand new guide for this month called claiming for procrastinators. And look for you strategies that can help educate you on the steps you need to take to protect your assets and your family. Do not put off this call any longer give your free guide today by calling 866848569. Time that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. He suffered histories and are incorporated member can SIPC and advisory service is offered procedures America by incorporated Gary Armstrong represented a strong advisory group and secure America companies are unaffiliated and there's a security clarity to go to the legal or tax advice always he did voice of a professionally with a loss in your state. Hi everybody it's Barry Armstrong and I'm joined today by executive vice president from leader bank mr. 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Securities offered to securities America ain't members in red SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if part of the financial exchange it'll stay. By texting us and 63566. Start your 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. Not an ideal situation apple and China as they are facing. Problems with pricing in in particular. Secondary retailers. Are cutting prices on the number of different iPhone models. Anything from below wind iPhone addicts are all the way up to the iPhone XS Max. All seeing price cuts as. It appears that apple may have simply misread that the Chinese market. This case and you know granted I am not all that much of an expert on you know what other phone prices in China are going for Britain. It what points did apple think that they're going to be selling their highest price found for 19100 bucks a pop in China. 26% premium to of people paying United States it's not like bad data's not readily available these days. It's it's just it's a huge chunk of change and you know it it's interstate Apple's accompanied bets if you will give them historically. They've kind of always had pricing. Yep they they've they've always been able to put out in equivalent product at a higher price you know you go when you look act. IPhone over the last five years. It's not materially better than anything from Samsung or any other android phone. But they're able be profitable they are because they have pricing power in a lot of cases the the iphones that were being put out. We're actually materially worse than what you were getting from Samsung. Samsung guy and miniature if you're Chinese citizen while yeah I always phones are pretty significantly superior to what was put out. In in China I think apple really miss read the idea that you know for years they have been in a fashion accessory. And have you noticed the rest of the biggest change. Have you ever watched any of the apple ads recently. In terms of what thereabouts. I'll give you an example he'll go back to win the iPod first came out the iPod not the iPad not to iPhone the iPod Bakken it was due to growth that was very colorful do you remember that ad campaign that went along with the Dow YouTube. It was U2 in vertigo is thank this the black silhouettes of people dancing with the white earbud cords just flopping around right where Erica and it was. There was nothing else it was it was music with silhouettes. And white year but courts that would that was it. And you look at the ads they're running today and it's all this you know it's like family oriented company that is it is yeah see there's two different styles they've had they have some that are kind of all these computer generated ones you remember like the one last you were there is like some girl who was like walking upside down against the wall are a couple of it was always like random stuff created in the they had won this year heading into the holidays where was another CG one where was. You know that's girl was you know writing all this stuff at home in the Dallas and the Catholic throws all out it's like elegant lease like all of your inner creativity. It's not about how simple the product is and how makes you feel anymore. It delays in lake that's the selling that they had. Now it's all about it's just it's too complex. They've lost the I think as much as people talked about over the need to innovate on product. They've lost kind of that edge in terms of what they had from a marketing perspective too and I think that matters. Is it does because Apple's brand isn't that we have the best product. It's like they've they've never had the best product that never the first product now but they've had the product that connected with people. And that's why people were willing to shell out more money for they'll have that anymore well let's let's talk. A little bit more bugs. Let's let's identify the apple issues I mean United States wise I don't know that they have that they've been issued here domestically let's talk about China though. They're facing a few different issues I mean we've talked about this pricing issue. Maybe we're talking about an issue where it's just not the same fashion icon that it used to be in China. But I think we do also need to admit that there is some nationalism going on in China where they're saying yeah. We're in a big trade worth United States I'm not gonna go pick up an American phone can't measure but it's probably happening you know that they'd there's not a whole lot of evidence but eight U. There's definitely been interviews with people that said. Yet you know led I was going to buy it but quite frankly with everything going on right now I'm not gonna buy an American phone just is a lot of people here are saying I'm not gonna buy it you know in Chinese made computer or. Whatever it might be. This takes is over to our poll question of the day up right now on financial exchange showed dot com. You plant and upgrading your Smartphone this year we got three options for you yes. No and I don't own a Smartphone because. There's some people out there that I'm still envious of that still have dumb phones that I wish I could be but unfortunately I can't beat today so the question is do you plan and upgrading your Smartphone this year had a financial exchange showed dot com. And vote yes no or I don't own a Smartphone I'm voting no on mine. To view of either any update so plant. I hope to but my phone is over two years old now so it's a possibility of the necessity. I mean I voted yes because it literally just upgraded last month. That was last year yeah. Not a matter of days here talk so. Does this say our guest of the MO RE NN dot site if you were in the way that you can't undo no. I mean I had done and soccer in about four and a half years thanks to Regis and a six success success you know I'm still my my six at this point I honestly man it's worth it it's like remarkable how much faster than it is is that big difference yeah I mean you know hours. And the screen is better. Its. Products were what are you what would you have these days it's. The the original pixel. As I don't print select batters get him batters transmissions over two years that's starts would. Start just. Charged initially did. Is there and cracked screens as far as I'm concerned and that's the other thing for me chuck is the battery life his. So much better than the sex is it's it's far away that I and it might Allman night. But doubters it's a before percent what doubled and usage put on the things I think used to. Forty some than two hours forty some minutes. So my new goal this year is on trying to get down two hours ten minutes today so I was I was below and hours thirty last year. I'm trying to get below an hour and ten minutes today to keep the screening myself. As I. Continue my quest for. I don't know whatever happiness. Let's take a break right now when we come back we've got Wall Street watch any major major highway project taking shape. In Massachusetts. Like there's something. And followers on Twitter. Show breaking business news news hole. First right here on the financial exchange radio network. 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Or zero rent dot net. 2018 sought a market reached new highs but they were short lived in the year ended with a thud as far as investors are concerned record growth in the stock market may be a fleeting thought as we head into Tony nineteenth so it's incumbent upon you to review your portfolio and your investment strategy hi this is very Armstrong and I can help I've got a brand new guide out this month that will review the ups and downs of the past year while providing you with information and assistance that you'll need as you strive to maintain your assets and see them grow this year's economic forecast is cloudy at best so called right now you can get your free copy of my new guide at 803934001. That's 803934001. Or download it right now at Armstrong advisory dot. Can't securities offered to securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of professionals familiar with the laws in your state. 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Or email BBO what a leader bank dot com for more information member FDIC equal housing one. In medieval times a sharp was often the difference between victory and defeat. For skiers and riders that 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. Tony team was a rocky year for stocks including nineteen be the same better. Worse the Armstrong advisory group has a new guide of this month called 2019 a look ahead in have you learned about what may in the market so turbulent and whether or not it can stay there in your free copy by calling 803934001. Or downloaded right now Armstrong advisory dot com securities are pretty securities America incorporated member of finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are unaffiliated. Time now for mostly watch a look at the market's performance so far today I don't Berrian jug right here on the financial exchange radio network. Time now for Wall Street watching brought to you by leader bank if you are in need of a purchase or refinance loan. Better bank is some of the most competitive rates in New England dedicated loan officer. Will work with the every step of the way in their local decision making means of bastard closing. Call right now for more information 8776917900. Or visit them online leader bank dot com member FD I see Mike Starbucks down about two and a half percent today what's what's the news from them. They are they are Stockard downgraded by Goldman Sachs over concerns that they might follow suit. Falling apple in terms of there have predicted forecasts in China. They haven't released Charleston south haven't releasing data on their China sales recently and the stock held up remarkably well in Q4 of this year so stocks down about two and a half percent on that downgrade right now. Activision Blizzard down about ten point 6%. At the moment to the nerd stop playing video games not quite but they announced on Thursday evening at their transfer their publishing rights for their destiny franchise and after lion and you Tucker for this one two chemical bungee they're also you know just kind of dealing with a few different nations the same time flow former employee. Is suing them. Claiming he's bullied on the job they lost their CFO or earlier this year to Netflix. So it mainly this is about the destiny franchise but date there have been a few other issues afflicting Activision Blizzard recently. Very good and that's Wall Street wants presented by leader bank called now offered great read on a purchase or refinance loan at 8776917900. Or as the monoline leader bank dot com member FDIC. So who's ready for some big highway projects in Massachusetts they dig tube baby everything out and do well this one's not going to be quite that complex but. It's still in the drawing board the planes do appear to be being finalized. There would still probably a few years off before this becomes a reality. So if anyone. Interview drive Mass Pike at all. Picture I mean it entirely Mike and you know what it is ladies you've been on August or your South Shore boys yeah I rarely area Tucker doesn't go north of the plate very often now I would've known diseases according to talk there's nothing there but the problem is according to the people north the point you don't exist either I hear you visit Kelly's solid and how to gradually at a Medford earlier in the late last year it is just shocking for him. Afternoon hours and I heart. All that's right yeah house it would ease its mysterious he's looking what does this Bedford use them you know so the best play Ian in all went to two hours to get there if that's a whole different. So the Mass Pike and Alston is kind of and in a messy spot please be a whole big rail yard there. Get a whole bunch of curves that you know we're really uncomfortable to take any speed above thirty miles an hour because it had to avoid that rail yard. But the rail yards effectively gone right now and so the plan is to try to straighten out that segment of the Mass Pike. In bring it down to ground level instead of elevated. Ramp that has to go over it winds past BUN. Also. I guess apparently in order to comply with environmental regulations. Soldiers Field Road which currently is at ground level. On top is now going to be elevated on top of the pike for about I guess a half mile stretch or so in order to find a place to put it. So this one point one billion dollar projects over in your hot everyone's minds talk about three and a half Jelena or triple that if you get there yeah cares 150000 cars a day so I guess my advice would be if you currently commute from west of the city of Boston into the city of Boston either. Find a train. Find new job or. Get a transfer. So he hears that it it it really depends on a couple of years it depends on the order of construction they're gonna go through here okay. Theory proposed the new. Stretch of highway for the hike does not include any bridges and is going to be at ground level. They should in theory be able to connect that fairly easily. Having said that best. They won't really funny having said here here's what's going to happen they're gonna do it when these one lane things where you've got all kinds emerges and crossovers like. You're gonna have traffic spilling like you did here in order to deal with like. This I I just picture this being your fights as messy as it can be like it's just. He I'm not looking forward to this when it happens so there are no firm plans now. But this is something that probably in the next three to five years is going to start to probably 20/20 two to 20/20 four in my guess based on the scope and scale this. This is probably two and half to three year project. Probably. Reactor anything terribly quickly so. The calendars turned NN new year is here after the way the market ended 2018 we might not want to look back. But in addition to reviewing what was it's also time to look ahead. I'd like to ask you to reflect on your financial well being and your investment strategies we head into 2019 the markets are still volatile. Many believe the economy is slowing and we're on the brink of recession trade with China continues to be an issue. So what 2019 hole for us we got a brand new guide out this month it'll help you look back on the roller coaster year that just ended. But also. Provide you with a little bit of guidance to keep your portfolio strong in grow. Told the 2018 year in review and 2019 forecast. Need to get your free copy but call 803934001. That's 800. 393. 4001. Or you can download it right now for free at Armstrong advisory. Dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. A potentially good news for the city of Boston now the wind the wind turbine company. Vest style Sweden technology. Is going to be moving there US headquarters to Boston rather selecting boss as they are US headquarters yet their Danish company. That the Danes have some some pretty good experienced wind turbines. They're going to be putting it there mainly because where that count the first state to relieve commit to a deep water. Offshore anyway yeah arms with the vineyard project that was. I was selected that's going to be it was 84 turbines. Often the off the coast of big ones yeah so it's a big boys up to 600 feet tall NASA or not the actual manufacturing can be done here in Boston not enough that's going to be happening in the states but this new headquarters presumably is going to continue to expand this to give NASA staging area New Bedford once that project really gets under way Ted ship all the things that the city. So good news in what seems like it should idea. Pretty significantly growing area over the next decade thank. Yet you're starting to see the cost for offshore wind comes down to it which you know there's two big issues when there's two big reasons why you've not seen a whole lot of offshore wind in the United States number one is the cost which has been prohibitively high for a while. On number two is the knot in my backyard is in that we've seen yeah which continues to be prohibitively high because no one wants to see these things and you know that that's something that I don't see going away anytime soon because. When wealthy people who own coastline homes don't wanna see something they often have the lobbying resources to nicer than debate they don't have to see something. Shameful. Kennedys. In the Cape Wind project that shut down because all of those. And we it will need to we don't need to rehashed near that kind of history at American Airlines going through. I won't say struggles but. That's a sharp struggles noticed there's still profitable in the hill guiding towards profits but just not as profitable as they previously guided to. They effectively guided downwards really the range about 56%. On there projected. Post 28 team. Per share. Earnings yeah I mean my destroy and I'm point enters the fact that the stocks down 44% of the last twelve months stocks not doing well right now now Gatorade is struggling. You know I they seem to be. Really facing just a lack of demand that they're over to be able to bump up prices and Q4 season big holiday travel and for whatever reason consumers may be just out of fears the economy I'm not sure exactly what they don't seem to be flying quite as much as they have of the last three years. Have you guys poked around I like to put ground on air travel a lot just them I'm always curiously where you can go for what else. It seems to me that in the last year and a half there's been a noticeable upswing in prices to the point where near trips that previously would have considered the use thought pretty reasonable. Have kind of been priced out of my price range in all in a number of cases of. This data it's it would seem to signify otherwise or maybe it's a localized issue but if the data here seems to be that a lot of these airlines. Really ramp up supply routes and largely found those unfilled. Especially in the last course this year's Aussie PI going up the Sox in wages going up and kind of bumped up the routes to be able to handle what they assumed would be increased demand for flights and they really haven't pulled through. My personal experience. I've actually seen some of their routes that I've taken in the past kind of disappearing you know I oftentimes fly zone west Phoenix and you just can't get that anymore. They are they not flying there and old directly they are just apparently not in the times that morning to go. Interest in my only option direct Boston Phoenix's American Airlines and obviously any James on things that you typically look at in terms of air travel level I mean it's. Been pretty consistent from one I've been engaging and usually see if there's you know what the prices are like go to Florida or vice Versa or Vegas or something like that got a national party coming up in August. I know it's really far in advance but I was looking at the prices there for Austin, Texas a real bomb. That was like factories something like that. It's a terrible. If we're talking specifically about the northeast market there's always a pretty big demand for people to go down to the Caribbean and wonder how much these hurricanes swept through wild year that I have destroyed infrastructure. Really impact the airlines some degree. Text out of 978 with regards that Mass Pike project we were covering earlier in the segment asking quote is this project necessary. No it's it's not necessary the big reason why they want to do with though. That whole rail yard area is pretty much cut off from the rest of Boston the surrounding area right now just because it's it's literally surrounded by highway and rail. And so. The point of doing this is that you can remove all that extra highway on the north side there. And connected to the rest of Alston said the it can be developed so potentially opens up. The big chunk of develop mobile and Ian in a pretty attractive place and he's in a bunch you can go to Harvard though. Yeah I've looked at I don't wolves owner they're gonna get a well my issues that we're not collecting tax revenue on it. I just don't want the nerds getting they got an off. We can keep the nerds on the north side of the river you know that's that's where they do best they like MIT and Harvard stay on the north side OK give you or anyone underwear chuck is a Dartmouth graduate gets the rest of us and you know the space that we need but keep the nerds on the north side. Let's take a break when we come back we're going to be talking with Greg McBride from Bankrate dot com. But where he thinks interest rates are going over the rest of the year that's coming up right after this. Does this in stunt done to build. Oh you're portfolio beats the financial exchange with Barry Armstrong and chuck signed off on the financial exchange radio network. The calendar has turned and a New -- here after the way the market ended in 2018 we may not want to look back but in addition to reviewing what was it's also time to look ahead hi this is -- strong and I'd like to ask you to also reflect on your financial wellbeing and your investment strategy as we head into 2019 the markets are still volatile many believe the economy is slowing and were on the brink of a recession trade with China continues to be an issue so what does 2019 holds for us Everett a brand new guy they'll help you look back on the roller coaster year while providing you with guidance to keep your portfolio strong and growing it's called the 2018 year in review and 2019 forecast and you can get your free copy by calling 803934001. That's 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffered histories and are incorporated and as a BC and advisory service as the protestors were divisive corporate or are represented a advisory group and security or companies or an affiliated representatives to America to go to the legal tax advice was he the president especially with the laws in your state. As we age long term care or something to make sure you plan for how quickly would you arrest since being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is just under 135000. Dollars per year and an average cost is expected to increase to over 181000. By the year 20/20 eight if you were a loved one are faced with an unexpected nursing homes day when you haven't done your claiming yet before you write that check. Pick up the phone call the experts at Cushing Nolan at 866 before -- by 699. Cushing in Dolan has been helping families just like George protect their assets for more than thirty years and they put together a brand new guide for this month called planning for procrastinators. And look for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer did your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website 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 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 at leader bank dot com for more information not a deposit not FDIC insured and insured by any federal government agency not guaranteed by the bank in May go down in value leader back a step ahead. 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 home mortgage meter 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 means a 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 8776917900. Is the number to call or visit them online at leader bank dot com. Number FDIC equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. It's our daily poll question had financial exchange showed Doug John. Vote your conscience there heard just vote go to financial exchange oh god come and test away. We're joined now by Greg McBride Bankrate dot com discussing his views on interest rates and the markets between nineteen Greg we've seen a pretty strong recovery from what was a debt that we can all agree pretty terrible Q4 of last year. So far in junior where do you think it is sort of the Jonas Bob where you think markets are heading for 2090. Well I Kinect dictate the economy still in good shape and Neil weak democratic glass half cent beat you there in the fourth quarter and that he'll like be to other. Market falling away at the beware I think you know it does economic clout part that people will begin seeing that. Guys as funny. You know that we're gonna steal the market in a continued trend higher. But there's going to be some bumps along the way -- that policy is gonna continue to still be an issue that overhang the market but we get any kind of resolution there or positive headlines. On the China trade situation he IP that just dance here further fuel to. To a market rally. But you know later in the year I'd take you to think that some of those economic concerns. That people had coming into the year they'll be you know I take a much who. Better founded later in the year I write another very distant concern is that you know selloff was overblown. Later in the year that Mike got BK so he'll I would expect volatility. This year. But where we end up at the end of the year is going to depend entirely on. You know whether or not the economy continue to chug along the war you know if we do is look like we're heading into a bigger slowdown or recession. That's really gonna dictate the market. Are discussed this earlier what do you make of I'm gonna call Powell's almost 180 here between you know this summer and at this point December and January. I seems like he's really had quite a turnaround from being pretty hawkish to pretty dumb is going forward. Where do you think we end up in terms of interest rates how many more rate hikes re heading towards. I expect we're gonna get to rate hikes this year. Think your right I mean at EE a Powell has been you know pretty close all 180. They need you know that's a volatile market pulled to write but beauty. He started to tell investors what they wanna hear and what would be old you market the double down and started to rebound and I wonder of wonders. And so. At the economy still in in in solid shape but they've got the latitude to. Raise rates. You know they've also got you know they've also created the flexibility for the I think what we're gonna get away from though is that pretty ugly breed like every three months. Like clockwork as has been the case over the past couple of years so I do expect we'll get to rate hike this year I think the going to be a little bit more spread out of what we've experienced the past couple years. You know I'm talking to a lot of folks that have these he locks they might have opened up 56 years ago when rates were dead low. And yet still carry a thousand Lou what does this you know how does impact the average person Sega 30000 dollar balance on a home equity line you haven't really paid it off him and it paid much attention to it. What are these rate has really do idea. Well it's the cumulative effect is really grow and instead I hiked rates nine times already. You know so you know back home equity line really. It felt like running into the stiff wind with a parachute behind your back you know TV either. Ranking gets higher balance in debt that I don't that the higher interest rate environments so the minimum payment on that 30000 dollar home equity line. Has gone up over fifty bucks and bed started to take great that's just the minimum payment so yeah he's still haven't actually start it chipped away the ballots so. Each individual rate hike by itself is incrementally pretty small enough of them that people noticed that the cumulative effect. As really started the men out and he also had tight budget he did it's getting a little bit more straight. As interest rates go up so home equity lines be in that credit cards in particular. That's where consumers are feeling the effects burst. Heat indices that higher rate within one or two state. They certainly are Greg McBride Bankrate dot com really appreciate joining us have a great weekend. Yes I mean hey there won the one positive area here is you know I'm in a pretty good rate of my money market these days finally. One and in I mean if you're someone like Tucker. Interest rates at least in the short term of come down super potential buyers especially if you're seeing more price cuts and things like that compared to be you know six months ago I mean we had mortgage rates up at 5% support for five to Wear down drop pretty quickly you know so that does potentially if you see you know a 3% price get on property in mortgage rates are down half a percent. That properties down 8% more affordable than used to now so. Tucker this can be the. And Knowles and optimistic right this is how you feel beaten up by Fatah gravity a lot of sailing a lot more optimistic for you to fourth and you're expecting a and different differential. But I mean went on a rush right now pretty. Comfortable out where Aaron. Yeah pretty busy with so what's your sleep schedule been like this week in Bavaria is resistant to pick it out what's sleep but that it. You all man is a pain in the pain in the ass to put to sleep last night took like assault two hours what was going on. I don't know he just would wouldn't have said baby Jacobs media. What you explained to him that it's bedtime he needs to go to bed and that it's time for him to beat while I know like him a stern talking to he was inhabitants. He just. Did not want a ghostly enemy you have to think about really being born is probably one of the most dramatic experience in the life like. Everything's taken care where you don't have to eat you don't have to breathe and all of a sudden you're thrust out of this world with strange people looking at you turn you around. Wrapping you up all my clothes and stuff and it's like. It's not surprising that babies want a crime most of the time that is a wanting to feel bad like you know some people obviously want CM and I'm. Totally cool that legislate from the kids' perspective it is like. Mean who the hell aren't really hit the heck away it to me now let's call nurses and everything yes offers that person smells bad dispersants talk -- that annoying voice this one's trying to be mean I don't want shrimp silly get a give that away from me it's -- like this one's allowed guys decade can't see anything at this point anyway adored about it or city and we can surely stand the light of the baby Tucker's due go idle you have no way agency all you do get handed from person to her right. Exactly it's just it's it's not for me and happier rout of told time we have on this hour of the financial exchange coming up in a little bit that we've got more on the faith Carlos go in what's going on in the retail sector. Lets you know in just a little. 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 calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. That speaks theory a great family friendly mountain wind something for everyone including day and night skiing snowboarding snow tubing aired a special costs. 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That's 8776917900. Thing get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide. 8776917900. Is the number to call or visit them online at leader bank. Dot com member FDIC equal housing lender MLS number 449250. Are 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. Hi this is chuck and Mike from the financial exchanged. As we start off 2019. I think it first makes sense Mike to look back debated 2018 and talk about some of the big themes that we saw. That move markets create a couple big dips to 10% dips over the course of the year. What caused the more key fact offensive. And it just have the ability to add more volatility into both the bond and stock market and it definitely saw that 2008. Mike one of the big things this had an impact in particular in the second half of the years the trade conflict between the US and China how do you see that continuing. To affect markets as we move deeper in the 2019. Yeah I mean huge huge issue for a second half eighteen it really added a lot of volatility in markets then and certainly it's going to spill over 2009 team. When we look ahead here my personal views on it is I think that we probably get something on on the US China trade deal. Before the end of the year present don't think the president trump wants to head into a re election season with eight giant economic headwind. Looming over so that's my personal view but it's really tough to tell folks there. Is a lot to look at heading into the new year and so we did put together a brand new guide titled looking ahead to 2019. It's free to get an all you have to do is go to Armstrong advisory dot com once again the guide is titled looking ahead to 2019. It doesn't cost you anything to get it in you can download for free at Armstrong 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 a 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. 2018 sought a market reached new highs but they were short lived in the year ended with a thud. As far as investors are concerned record growth in the stock market may be a fleeting thought as we head into Tony nineteenth so it's incumbent upon you to review your portfolio and your investment strategy hi this is very Armstrong and I can help I've got a brand new guide out this month that will review the ups and downs of the past year while providing you with information and assistance that you'll need as you strive to maintain your assets and see them grow this year's economic forecast is cloudy at best so call right now you can get your free copy of my new guide at 803934001. That's 803934001. Or download it right now at Armstrong advisory dot. 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It's pretty hard to find a bank that -- -- checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out -- 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 -- 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 about 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 opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings were subject to change without notice leader bank a step ahead member of the icing. And. This is the financial exchange with Barry Armstrong and showed sound. You're exclusive look at business and financial news affecting your day you. Your world stay informed and today about economic and market trends plus breaking business news. And the financial exchange with the very Armstrong and she so. Or kids or die alone that's the message so far through about an hour and a half trading with the Dow off about a hundred points today the S and peel off about five the NASDAQ off. About 29. At. The moment it's still early in the day this would be the first down day. In about six days five straight trading days in positive territory itself eventually what goes up must come down I guess but. Yeah that that's not the only person ever had five straight days in September. Yet been four months and we have an had five straight positive days so look I don't think this is necessarily something to be concerned about today. But obviously markets are gonna continue to stay unstable that the root causes of instability that existed. Over the last three months they're not done we may be making progress on BO averting some short term issues in some of them. Most notably China we seem to be making some incremental progress but it's hard to tell what's really going on. The Fed does appear to be far more accommodative than they have been previously. And breaks it continues to circle the drain because we have no idea what's next gonna happen. I do wanna go back to the second item that I just mentioned and by the way it's chalked Mike in Tucker today no bearing. Let's talk about the Fed is in the last week now J. P. Howell has spoken twice. Once in Mosul cozy roundtable with Janet Yellen and Ben Bernanke and then yesterday to the economic club of Washington. And in both of those public appearances. Jerome Powell. Looking like he's got little dull wings not the big hawk wings that we saw previously. Yup they have pretty much a 180 from what we are seeing earlier this summer in terms you know that number as the Fed chief that said we are far away from neutral in terms and interest rates at this point she says it would be patient has removed so so so patient. As united believe how patient we can be around interest rates. Patience patience is the key key word here it's a pretty big turnaround from where he was and review what we've concluded is that. The only thing that seems to really changed is the stock market and so you know that impacts a lot of things let's you know it's not consider the stock market small. But. Unemployment is about the same as it was earlier this year earlier last year. Wage inflation is you know continue to go up. So the core economic factors haven't really change it's the stock markets changed. And and and I think you know when we would when we talk about the reason why that's important it's not because Jerome Powell just wants to keep wealthy people wealthy. I don't think general Powell particularly cares whether or not wealthy people make or lose money if he did his tone in October when the market was down he spoke. Would have been far different so I I don't think. And I think it's too much to cut projected Jerome Powell just wants to keep wealthy people wealthy. I think Jerome Powell was looking at the reality in the facts on the ground when it comes to. The US fiscal situation saying. Hey if if if this happens if we have a market that continues to be unstable. It potentially meet some really bad fiscal issues for the United States coming sooner rather than later were pulled out from. Is the Fed also gave us fed minutes. A couple days ago they they publish minutes based on their previous meeting. It in those minutes the Fed said. That the yield curve rather that the the Fed Funds rate could become volatile as the Fed continues to sell off. Some of the bonds they've bought recently some pretty much what's let's look at what's happening. The Fed had been a buyer of bonds really for about 2011 to 2015 they bought up a whole bunch of bonds. In about the last year and a half they've started to allow some of those to expire and let you go back into publicly traded markets. If the Fed is saying that interest rates may be volatile as a result of this they're saying they don't know they're gonna be able to find enough buyers for all that debt that's out right. If they're saying that today okay. It means that it's something that's the legitimate concern at some point that's going to matter. I don't know windy use but at some point it will. And so if the Fed is coming and saying look we don't know for going to be able find of buyers for its the short end of the yield curve. It would also follow the based on how the dude US government funds itself. At some point you might have funding questions on the long end the yield curve to date. They may lose control of the yield curve. Based on. The fact that pay if you need to keep rates low if you need to try to keep rates low and order. To not crash markets it means you're gonna have wondered two things happening you've got inflation it's gonna heat up now okay which means the long it's gonna sell off anyways or. People can say look we just don't wanna hold these bonds could not get paid for you the amount of risk but the US fiscal situation in get along and sell off any. I think we may be entering into a higher inflation. And higher rate period that may not be anything of the Fed's choosing. Let let's let's. Go back to what the feds busted they get dormant for comment congress promote effective Google's maximum. Maximum employment stable prices and moderate long term interest rates. Are they overstepping their bounds a little bit of their considering he's happy with the stock market volatility has been doing her commute argued at the stock market is going to impact these mandates. You can make an argument that that the market will impact those mandates I think you can also make an arguments bets with how the market is viewed today and how it has to function. The stock market is in effect part of if it's not part of the US government but almost isn't a certain way and that look if you have the Fed elect let's look at the mechanics of it. The Fed goes out they buy bonds from some when they pay you you have the US government bond on the Fed I pay you to go on by that bond what are you gonna do with a hundred dollars I just gave you. You go buy a house you go buy stocks the bet is effectively. Turned markets into. A relational part of the government and like it's it's fairly close that it's not crazy to suggest that so. I think it's something that. Again this is getting called win win the chair of the Fed is saying that this is starting to matter. It means it's starting to matter if he's someone he's someone who knows and who can actually affect change and this is something that I think in the next two to three years is going. To have a pretty big impact here. Let's move away from fed talk for now let's talk a little Carlos don't because this is the story that just won't go real I doubt Heidi and I've I've. I'm getting to the point now where I feel pretty bad. For mr. going just because he's been in a jail in Japan since the nineteenth of November now we're going to be at almost two months will be two months next Saturday. Yesterday. He was hit with new charges. Which allowed Japanese authorities to keep him without bail for further time he's going to be able to apply for bail he won't get it but this means he's gonna be spending more time in jail now. Him news and sector of I had fever possible to wait. It it certainly seems and I was skeptical of this when it first broke Barry was I think right on the ball saying hey did something smells like a rat here this doesn't you know something smells fishy yeah. I tend to agree with them you know it's like you just continue to have more and more charges brought here and there's there's the ultimate goal doesn't seem to be. Finding him guilty of anything the ultimate goal seems to be delaying his release from prison. It is it's surge seems ugly for mr. goats will continue to keep you updated now but there's no new news aside from that just seems like. He's effectively being railroaded at this point. Let's talk about a story that broke yesterday with Macy's. Collapse. Macy's stock down how much was it down when it was Olsen I think about 17%. 17% yesterday so mesa stock was down 17% yesterday. An and really it was based on the fact that Macy's. Came out and say they bit the fourth quarter traffic and sales that we had. Board up to expectations of I'm curious your take on what's going on with Macy's right now. I think that they are struggling and he's feeling it's the extreme impact of mall based retailer. You we all think we can generally agree that we're all looking at this holiday shopping season into anticipating some relatively strong growth. And we saw that we did see strong growth in written in this holiday shopping season but nobody is doing at shopping. And so you're seeing those guys you're seeing Sears Macy's JC Penney. L brands anyone that has a mall based presents really smacked whereas target. Costco tune well you know the one company that bucked the trend. TJX. Not a bad all days retailer. OK guess yeah I guess that's not a shopping mall based reach right they don't take up anchor stores in the shopping malls largely they're part of different chopping type clauses which have managed to do all right generally that's that's a fair point Macy's has a few of those clearly thought the difference there that's an interest in juxtaposed I had not thought of as being different entities but I think you're right that I really think they are I don't think a lot of people are still buying into that and go park in the mall shopping line go into this giant indoor area to do my shopping for the holidays it's just not happening. Yeah the online presence the big thing to target and Wal-Mart invested heck of a lot more. In their online presence and he sees as Macy's still has a pretty clunky web site that isn't very user friendly and as big piece to. I I keep looking at these stores Kohl's L brands Macy's that are reporting bad sales and L only seem to have one thing in common. There all Stop & Shop and do either review shop any of those stores that might just mentioned guests not frequently but yes I would be Victoria's Secret data are huge yeah. No I mean I've gondola at Macy's. You know Bolter website and coals while. Dabble and once while I don't think I've been to Macy's since I registered for my wedding that was over two years yet as one close to miso is I'm rarely there. I have worked so room when re. The reason I've been through these stores is because Berkshire sneezes. Repetitive but when we go to shopping when we go to shopping malls because they usually play areas for kids. So we usually try and park in front of this year's nations are JC penny because we know this can be really easy parking axis and there's aren't there as the law there's nobody. It does make good it was funny too is that I've been on Macy's dot com I've been on target.com. Coles dot com I've never. Even attempted to go to TJX. Or TJ Maxx stock on or marshals it's just they don't exist. Well it all you UK I mean they they exist. If you go to home goods dot com you can't buy anything Boca they they have nothing you can buy there will is the word story changes so quickly it's working so because I I go to a TJ Maxx marshalls are hundreds more frequently than two Emmys are coal like I was really frustrated at first is I remember. I what's the longest web sic is my wife oil won't shopping at home goods so what they're like LA go go go pick something up or just on the website I remind I went I went to the website to delay. In you can't buy anything on the website what do they have in the woods if it literally just says like it has like a box where it is fine to store near you and then a whole bunch of words about how great stories about us you can't actually buying anything on there website interest. They don't they don't even give you the opportunity to lake. They they don't even list inventories which seems race Tuesday Smart but like I think about if if I wanted to get my wife something from home goods I gotta walk in the second they have me in that store. They got me. Lake is there's something to be set for this it's. Not that this is a comparable thing but here's a question just hypothetically could I don't know any company that did this. What happens if you had a newspaper that refused to print online. Gone out of business. Well I don't know just it's just a question and I'm not saying you know lake. 00 local small paper comes out what do the Wall Street Journal said we're not doing an online edition. Katz said the bag now they can't go back but it's just something to think about oh I don't think they would survive. The Wall Street Journal I don't think there were survive you have to be on line to be Roland. Sorry TJX to NAFTA beat it to death but I'm not going to get guys use resources or read stories are TJX and go to buy a product. Technically use a product to miss it. Tucker I was aware news. I'm not telling you Wear it well actually you can but that's the story for different day. Let's take a quick break right now when we come back Matt has a heck of a trivia question for you today we got a good one. And that's coming up right after this break. Chicago. Everything business and finance it's the financial exchange with Barry Armstrong in chunks are on the financial exchange rate he'll never. Work the calendar has turned and a New Year's here after the way the market ended in twenty team we may not want to look back but in addition to reviewing what was it's also time to look ahead hi this is bear strong and I'd like to ask you to also reflect on your financial well being and your investment strategy as we head into 2019 the markets are still volatile many believe the economy is slowing and were on the brink of a recession trade with China continues to be an issue so what does 2019 hold for us Everett a brand new guide to help you look back on the roller coaster year while providing you with guidance to keep your portfolio strong and growing it's called the 2018 year in review and 2019 forecast and you can get your free copy by calling 803934001. That's 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffered histories and are incorporated in as the BC and advisory service as the protestors are devices incorporated Ari Armstrong were presented at a advisory group and secure America companies or an affiliated representatives to America to go to the legal tax advice always acutely some professionally with the laws in your state. As we age long term care something to make sure you plan for how quickly would you arrest since being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average customer private room at a nursing home in New England is just under 135000. Dollars per year and let average cost is expected to increase to over 181000. By the year 20/20 eight if you were a loved one are faced with an unexpected nursing home state and haven't done your claiming yet before you write that check. Pick up the phone and call the experts at Cushing Nolan at 86684. Raped by 699. Cushing Dolan has been helping families just like George protect their assets for more than thirty years and they've put together a brand new guide for this month called planning for procrastinators. And look for you strategies that can help educate you on the steps you need to take to protect your assets and your family. Do not put off this call any longer give your free guide today Michael 866848569. Time that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. 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 home mortgage meter 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 means a 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 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. 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 8776917900. Is the number to call or visit them online at leader bank dot com. FDIC equal housing lender MLS number four corner and to try to -- subject of credit approval leader bank -- if you're real estate property management company you need -- banking -- that has all the right tools to keep your operation efficient -- bank is one of -- premier banks in the property management and real estate space offering a suite of unique products and cash management services helping collect -- managed Condo association payments in digitize paper checks hi this is -- is not a we'd bank utilizing state of the art technology to offer convenient banking services to which real estate clients such as a CH payments mobile banking promote check scanners in its innovative -- rent payment platform leader bank has a team of business bankers that are on -- help you know come to your place of business to make it as easy as possible number to call your interest did is 8776917900. That's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose -- bank is they're banking partner call 8776917900. Or email -- BO -- leader bank dot com for more information member FDIC equal housing one. The financial exchange. Is Cole a brutal England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. As promised it is to. Time for trivia tribute brought to you today by the Armstrong advisory group with markets still volatile. It's a great time now to review your portfolio call 803934001. Andy incident your free no obligation consultation today that's 80393. 4001. So we've got a really good one here today actually. Now mostly because it's based on the TV show Seinfeld which is one of my favorite show it's. It used to watch Seinfeld of course it its amazing how well holds off on now you know like there's some shows that you you watch and you can tell that dated immediately. Sonnenfeld is is still relevant today just because the issues. Still pres sample Tribune is a phenomenal through so we've we've got a good one here today so if you are no the correct answer. Texas at 63566. Of your first time texting us you have to texting the word buried before you give your answer. And if you are the this is a it's a tough one but there's a sign filled watches that I think we'll get so let's do if you were the tenth person with the right answer today. You're gonna get a fifty dollar gas starts at Texas at 63566. If you know the answer. Your question. Inside filled. Julia Louis-Dreyfus is characters Eli got through all that with all those passes there on. Her character Elaine Bennis was once kicked out of the Yankees game. For wearing a hat supporting week's massacre questions in the game crashed into a great question and inside and filled Julia Louis-Dreyfus is character Elaine Bennis was once kicked out of the Yankees game. For wearing a hat supporting which team Texas at 63566. If you know the right answer. And we will be giving that a little bit later on you and the show. Mike oil continuing to while rally which not great news for us here in New England good news for people down in Texas that worked in the oil industry. Yeah we got pretty darn slow her down and what we're almost done below forty and I think we if forties. And even a little bit lower. And 42 I think is the lowest that I am seeing so we're we're bump and back out we're still have. Obviously you know you go back to October we are open semi five bucks a barrel foolish or so only a lot of a lot of this is coming out of Saudi is that is talking about big production cuts over the next few years and move left to see there's going to be at its jumped pretty quickly about 25%. From the lows back to Indy team. Yet in terms of what this means it's you know obviously US oil ever likes to say okay what's the price where you know what's the one price words profitable it depends based on the specific well and education. But there's I get worried at Florida there's a range really between about fifty and seventy where most wells tend to be profitable. Obviously you have some that can be profitable way down to twenty or thirty bucks pay that's going to be exception not the rules so. This is good news I think for the US economy is holed just have prices. Back in this range I don't think we necessarily want to see the move too much higher than it gets expensive for you mean talker and it's not ideal for a us. But I pay about 99 differed on the gas and now Ohio is mentioned so do you really as pretty as it prepares on what one of the highway service stations are usually pretty pricey settle out they're paying for. Gas out in the earlier. I saw one when I was down in Florida and about 205 soups similar range but not quite as low is that one. Mortgage rates hitting their lowest point in nine months the benchmark. Thirty year fixed rate mortgage down to. Four point 45 for the week that ended Thursday that was as high as five point 15% just about a month ago. And you know a target we're talking about this while ago I've been thinking about doing some renovations in my home and yet it's that we've got three kids now on I think eventually we might outgrow our home ice at soldier said. You know what if 5% mortgage rate I really can't just I mean a 3875. I can't just like getting out of that yeah. At four and a half. You start to think about it a little it's an open house the other weekend is that you know we I was curious who were not there but you know is they are more achievable at four and half percent. So you know this is something that potentially we talked about a little bit of weakening housing that we had seen over the second apple last year. This I don't think puts that debate is I still think home prices Mueller are expensive giving kind of where they've been recently. But this does make some of them a little bit more affordable just because if you see interest rates coming down by in this case you know point 7%. That is the effect of making home by about 7% more affordable so yeah if you're a seller. Hey maybe it's something that helps you stave off one additional price cut you might still had to cut the price on your home. But maybe don't have to go to an additional price cut in order to entice buyers into one into tickled to property. And again you're Mike your class to exit apps like you what you just described. Hate that that is the active getting you know some demand back into the market because of lower mortgage rates. Let's take a little bit of a look at markets as we head towards the bottom of the hour. Still in negative territory on all major US indices the Dow off about 110 S&P off ten. NASDAQ off about 25 at the moment. What I find interest seeing right now is if we take a look at where the UBS and we're still up about 10% from the lows that we reached on December 24. So you know we've had a nice rally there. What we're still well off the highs as well we're still about 12% off the highs that we had said back in late September early October. But. It it does appear this market right now at least acting a little bit more calmly and I think again that ties directly back to Jay Powell in the last week. Being a little bit that's where does dollars I think that's what it is. Let's take a break here when we come back we'll have to answer to trivia and also some info on who her and lift IPO went. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. For those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed the New England according to Genworth the average yearly cost of a private room is almost 135000. Dollars that number is expected to be increased by 25%. By the year 20/20 eight think about paying over 180000. Dollars a year for your mom to be in a nursing home and how dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility and you haven't done your claiming that. It's time to call the experts at Cushing in Dolan they've got a brand new guide of this month called planning for procrastinators. They've been helping families just like George for the past thirty years and they can help you do don't put us today would you might really need to do tomorrow. Call right now get this free guided 8668485699. Protect your assets and your family call 866845699. For your free guide or you can download it right now and our web site 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. 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. If you're real estate property management company you need -- banking partner that has all the right tools to keep your operation efficient leader bank is one of these premier banks in the property management and real estate space offering a suite of unique products and cash management services helping collect rent managed Condo association payments and digitize paper checks hi this is chuck is not a we'd bank utilizes state of the art technology to offer convenient banking services to which real estate clients such as a CH payments mobile banking promote check scanners in its innovative -- rent payment platform leader bank has a team of business bankers that are on -- help you know come to your place of business to make it as easy as possible number to call your interest did is 8776917900. That's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose leader bank is their banking partner call 8776917900. Or email BBO what a leader bank dot com for more information member FDIC equal housing one. It's 6 AM clear as a bell and winter quiet I'm watching my breath turn to steam if I turn left out of the driveway there's a mountain of paperwork on my desk if I turn right there's a mountainous snow I'd lose. I am turning bright and. Work we'll still be there tomorrow blue mound is wide open over 340 acres remote pizza Clive Jerry parks had to mom this weekend for the Red Bull crashed twice as police search finals C a lift tickets as little NTN dot com slash tickets. Very our shores here and I'm joined by estate planning attorney Todd let's cue from the law firm of Cushing in dole and with your legal exchange quick tip of the day. We're talking about last minute planning techniques that can help you save your assets. Todd we've always talked about merit couples in the past. What can be done to save the assets for widow were or single person. You know that's really important because we see that more and more today you know you've got people who have lost spouses or dealer or like Satan and it never got merit planning has. Steve Leven last minute planning works for them example. Let's say you have a house. And you have some money. And you get sick and you go in the nursing home people are gonna say well I got to write the check now maybe not. Call right because what we would do is we would allow that house to be considered non accountable for users away for us to do that even when you're single and you're not living there so they wouldn't count. They might lead it but they won't count it. And then the money. Depending on your rage we can do one of two things we can either buy a Medicaid annuity for you which would stretch out the money over a long period of time allowing you to pay a Medicaid rate which is about six grand a month vs fifteen grand a month private pay so huge leverage there. Or if you if the medicated nordic doesn't work out you can do something total pooled trust where you take assets and put it in such a special trust that allows you to get eligible for Medicaid. It may sound complicated but Cushing and dole has written a guide especially for those of you who have put off doing your planning and are now faced with a last minute nursing home situation request this brand new guide from Cushing and dole and by dialing. 8668485699. It's called planning for the procrastinate or. 8668485699. If you want to guide right now. Go to their website legal exchange showed dot com that's legal exchange showed dot com or call them told free. At 8668485699. You might not be able to keep up with all the latest business and finance news but we have to face the financial exchange with Barry Armstrong and chuck soda on the financial exchange radio network. So it's trivial last segment the the question was. In signed fell Julia Louis-Dreyfus is character Elaine Bennis was once kicked out of Yankee game for wearing a hat supporting which team the answer. Was the Baltimore Orioles she was wearing Palestinian Steinbrenner private box and she is evicted from the game in the picture for being thrown as published in the newspaper. Stephon from Quincy had a tense correct answer is taken away a fifty dollar gas card tribute today has brought you by the Armstrong advisory group. With the market still volatile now is a great time for review of your portfolio call 803934001. Insert your free no obligation consultation today once again that's 803934001. So we get a couple big guy companies that are trying to. Go through an initial public offering some point and really in the next probably 23 months in a perfect world both left and number trying to. I'd go through this process they both filed paperwork with the SEC. But the problem is with the government is nobody in there the SEC cannot provide any feedback or approval on any filings. And so. This process is completely stalled for the company's and right now it's not a big deal we give this two weeks it could start to be a big deal after again a lot of stuff in order for the PO well and in and I think another part of this is that there's I think to a certain extent some concern Ian. Public markets anyways that with the volatility we've seen hate does that put a damper on you know some prospects for an IPO how much companies should be able to raise and you know this kind of uncertainty. Here here's the question that I have so let's say that we get the view a short term government funding deal at some point. If you're an investors look at this how do you know that the government doesn't go through another shut down at some point that stalled the process for a girl. Yeah I think restarted and all these really interest stories about how different industries and people are impacted by the government shut down none of which are positive. Far more concerning to me in the SEC is the potential for breweries to populist push out a jumper what's the what's. Harsh that pars are never shut down has idled the vision of the Treasury Department that regulates manufacturers of craft beer. Dealing a blow to that booming with what would you talk to me about I don't I don't owners area this out of what does this mean it means that a lot of these smaller breweries and the bigger ones quite frankly cannot. Move their new product or some of their existing product on the market. Why an Afghan side there's clearly some sort of inspection that needs to occur that is not able to decorate the government shut down. When were a wonder who would be. We're department would be inspect so it said that treasury which again doesn't make a hole but cents although given you know this nation's weird. Traditions of alcohol they'd might be it might be that so. The industry's race by alcohol tobacco tax and trade bureau which controls trappers. By approving any Newbury equipment and approving labels on new lines and so this is for a Newbury trying to start up or for an existing company wants to brew a new type of beer which you know. A look at his craft breweries like let's take trillion for instance every time I go there is in new line oh yeah here or there so yeah okay it's impacting apparently. The brewery. But there's no problem and I'm just I'm being selfish for just a moment there's no problem with existing beer continuing to beeper from what I can tell. Okay. I don't want I don't like my lame claim that we can come and I can tell I've given up dry January ratings hit an 810 days I mean it's playoffs and you were doing dry January I was trying to until last night why would you ever do such. As the fact that you. I can't do drive February I can't do any other dry month I can't do dry anything. Thought of that that's where a I figured look January like I'm pat unhappy as should be able to you know February kickers the super tough girl entering Sunday's it and that's why. Correct Margie kick as of March Madness April you can't because you got playoffs sleeve there's always something. January is not really anything so I figured I'd give it a shot and made ten days so I guess what was your ultimate goal goal drive that went right why. And raise humanitarian effort on why that is why I want to see what it was like again to whoever just wanna try things at all. I'd like my bureau like Carolina like I might meet. The you seem a little. Now he's connected to your internship this Monday that added to my morning talked post Mike. A sharp I've been doing business with leader bank for a few years now if you're in the market for a mortgage leader bank has some of the best rates around an if you call right now they're gonna make your process even easier by sending your free copy of their residential mortgage survival guide. In you'll find crucial information from pre approval to closing. It'll also help you with the required documentation the purchase and sale agreement as well as what to expect when dealing with agents. I've owned two homes might at this point I know a lot about the home buying process. But especially for new homebuyers this guy really helped me reconnect on the issues that are really important the overall process. Call leader bank today at 8776917900. Announced their residential mortgage survival dad if you're looking for a mortgage this would definitely help you. Number again is 877691. 7900. Or visit them online at leader bank dot com. Member FDIC equal housing lender and MLS number 44925. Euros subject credit approval leader bank step ahead. So an interesting study done on the states of Colorado Oregon and Washington State by the distilled spirits council. Those three states with the first three states to allow recreational marijuana across the country. And the fear for a lot of whether it's craft brewers distillers whoever might be the fear. Was that they were going to see liquor sales impacted. By the prevalence of in the the puck not pondered the propagation. Of legal marijuana in fact. That doesn't seem to be the case despite marijuana being legal and all of those states people are still on same out of booze they were before. And really surprised if they did lead to a decrease. As soon I I I really I see I know and number of people that both. You consume marijuana and drank. But the same time now speaking personally like I drink I don't smoke marijuana and the fact that his legal isn't going to make me change that right. I guess the question is that the way that I would view it is. This is gonna be phrased poorly but hey that's what I do. There's only so much drug money to go around. Like. People have a drug budget effectively with that draw serves alcohol marijuana or anything else you only go to attack. I only have this much money to spend on drugs yet you only spend the you know you wants him more than 25 dollars a bottle line exactly there's a drug but that's not gonna call. So when you look at this if someone says G marijuana is now legal and I can go buy marijuana in theory that should take away from the drug budget for. Liquor. That would be like that would be kind of nice I guess that area just hasn't happened blade it and apparently like it doesn't so it tells one of two things either a drug budgets are incredibly elastic because drugs might make you want to buy more drugs which is kind of how they work or beat. You just aren't seeing people making that trade often and behaviors is and changing. Yeah I mean I think a good part of this too could be that those same drugs were so easily accessible in the states that now made it legal. That's. Perhaps that's spending was already there on marijuana and it wouldn't come away from alcohol and. And now it's just legal it's not going you know under the table right. Speaking of alcohol Budweiser the big brewer Anheuser-Busch InBev is a buying up eight ad spots for this year looks like this can only five and a half minutes of airtime for her but why are. So we're talking about is what was the break that we're talking about yes I have no conception of time anymore. In terms of the ads that Budweiser has been running the last couple years the big campaigns in the daily dilly one with casino night the but night and now they've got you know all of these other ads that are spun off a bit. Does it feel like we're getting close to the end there pressure of so I never understood in the first place. I knew we had to reach peak Dooley Dooley when I was I was at an indoor soccer game about a year ago. And there is a game of nine year old kids playing in when the game finished all the kids just started yelling dilly dilly dad dad until ideally what the heck it mentally I know they do it dilly. That that's where I kind of started to feel. I'm comfortable with that was up because I want to cute protect is like the kids they're not down anyways but just like. Guys like enough like this it's gone too far Collins of them like two years now back to two years while. Really I thought it was pretty I think there is pretty early Allen last Super Bowl happened. That was like right towards. That towards the beginning I guess it pride beginning of blasters for policies that can actually my cure rate campaign launch August 27 teens who just feels like it's in forever which is probably worse like if we if we're getting fatigue after less than a year and a half him. They use if you like we're getting is alters ad campaigns guy out at some point that the Budweiser had the fraud they had the whats up guys to what what else they had recently was up. I'd just yet. The frauds underage submit to the it's. No I don't know what else there was enterprise skills obviously other client yeah I mean note those are given mind to more serious commercials Anheuser-Busch and bad they owned Budweiser Bud Light Stella nickel cobalt your Boehner indeed spikes I disasters all of these brands are going to be getting air time and that's not just going to be button but there early portion a lot of advertising from a global tour. Lately I don't viewed as a note. What it seems like that's been catching on is I've seen yeah people ordering pizza and I'll meet soon. My and the like it used to be kind of a joke like oh yeah gimme a nickel throw but I've seen people act out ordering them salaries of sports bar and on the main news Chicago circle of close yeah and that's that I was gonna hang out and yeah I'd like to see them bring back to selected tried some point. Sima yup. Currencies so I was still in the air act as your chart I've I've loved I just I never got a chance to it's so light and lately have gone off the market for a reason it's probably true crap let's take a break here when we come back Paula Monica from CNN business is gonna join us talk about dollar tree in what is going on with that company that's coming up right after. This break and include. Reid chuck in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network as we age long term care or something to make sure you plan for how quickly would you arrest since being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average customer private room at a nursing home in New England is just under 135000. Dollars per year than average cost is expected to increase to over 181000. By the year 20/20 eight if you were a loved one are faced with an unexpected nursing home study when you haven't done your claiming yet before you write that check. Pick up the phone and called experts attrition Nolan at 86684. Raped by 699. Pushing him Dolan has been helping families just like George protect their essence for more than thirty years and they've put together a brand new guide for this month called claiming for procrastinators. And look for you strategies that can help educate you on the steps you need to take to protect your assets and your family. Do not put off this call any longer did your free guide today by calling 866848569. Time that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. If you -- real estate property management company you need -- banking partner that has all the right tools to keep your operation efficiently to bank is one of -- premier banks in the property management and real estate space offering a suite of unique products and cash management services to helping collect rent managed Condo association payments and digitize paper checks hi this is chuck Zelda -- to bank utilizes state of the art technology to offer convenient banking services to which real estate clients such as a CH payments mobile banking promote check scanners and its innovative -- rent payment platform leader bank has a team of business bankers that are on call to help you -- come to your place of business to make it as easy as possible number to call your interest did is 8776917900. That's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose leader bank is they're banking partner call 8776917900. Or email be BO what leader bank dot com for more information member FDIC equal housing one. Dirty suffered histories and are incorporated in SIPC and advisory services officers attorneys are devices incorporated Gary Armstrong represented a strong advisory group and secure America companies are unaffiliated and there's a secure is America do not offer legal or tax advice always he divisive especially with a loss in your state. This is a special announcement for all landlords chasing down league rent payments and making trips to the bank to deposit checks take a hassle out of rent day we're zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free for all landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Security suffered two securities America each 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. Thanks Steward Barry's 263566. And let us know what you think about the stories we disguise your team to the financial exchange radio network. All of Monica from CNN business joins us now on the line and Paul it's good to talk to you today. I or doing well in the previous segment. Mike and I were both talking neither of bus was old enough to be able to. Drink ZMO wind it was available for public consumption. Did you ever have won by any chance. Exactly. Did work ray in my beard and probably got there you have on. Your case or hand it I have no hair so we're not nearly out battery that would be yet in the he had been beat ninety's that definitely. Had at least on. If I were old enough at the time that you know to be doing what I'm doing now with the short course. It is a very. So you're saying that I I did I didn't really miss anything by not being opera one. You did not miss anything. At all you don't need to get in a time machine. Go to those Halcyon days of 1993. The music was a lot better back then. You know it's its interest in Mike and I were talking during the break that the ninety's and looking back. Boar were kind of a strange time actually like while you're in it you don't realize it but looking back it's it's just a whole different ball actually talk about it all day but. I think it's more important talk with a bit about dollar tree. I'm so this a company that you know for about five years or so up until the start of 2018. It seemed like they were really clicking on all cylinders that that price point was working for them they were attracting consumers they made some acquisitions and so force. But 2018 was a really rough year for this company the stock went for about a 114 bucks a share. Down to about 85 and curious number one what is Pickford issues that that the company faced. During 2018. Yeah I acting that oh what's the thing about about college is that you know Stanley dollar is B. Company's retail chain debate ought a couple of years ago if not don't. Very well which is why starboard the take. Activist investor that you know in this shake up. Think that now all of garden owner Darden restaurant a couple of years ago Dave wants some big changes including a potential stale. You know in the dollar I think you know to. On this super. Low and the market but there's also work. Attention now on chain letters spelling to it maybe not as cheaply as a dollar but it. You know you've got companies. Like five the Lotto and Ali Spartan outlook it would Collie hit that thing Myers in the great story a bump in business right now about them. You know there's just a lot more competition here that I think there have been times where. Your Dollar General may have been content we you know be cracked me he'd be industry. A local bargain basement. It's the worst and that's no longer the case. In terms of dollar tree's specific business it it. You know week we've always talked about Wal-Mart in particular where they had this you know great logistics network that allowed them. To undercut on price along with scale is there anything that dollar tree has that maybe makes them more competitive or maybe a better. Of the better player in this space then any of their competitors. You know I think that the problems that at least starboard is. Illustrated is that they think it and it's stubborn. You know. Insistence on CNET that dollar. Value price point just mean that that they that they are selling now at a dollar. Because inflation are not as high quality as new or when storms county. In 1960. Start where you know. Something that is a dollar and 86 would be worth about two dollars and thirty today nobody arguing that the value. That the product that they are selling part or quality. Been several years ago when you combine that competition out it is counters and I think that's why there's this problem. So in terms of where they go specifically with Family Dollar. At this point is it a case where we may see some of that being spun off is it gonna be reorganized what what do you think the most likely out commands of being there. Yummy right now I mean dollar tree is dead after. Starboard and out there investment that. There are obviously willing to have complications with Andy out large investors. You know and and you may think PH I think we've. Starboard and that there are you know potentially much a proxy site. That there are candidates or it. We've seen that you know at least the case of Darden restaurant at least our board. We know over institutional investors in retail investors. We there. Plan B shake up companies that are underperforming I think doubt that he is right. Seriously in you know consider maybe you know doing something with the knowledge if they. I think obviously. Starboard would be happy with how awfully. Investment. If it would dollar it's Turk and they have you know certain logic in that particular change up do we. Very good one last question for you all know that you're you're you're giants are out this weekend unfortunately. We do have to NFC east teams that are still in salt what you take the pick their do you think use the cowboys or the Eagles come out on top neither of those games. Russia certainly. Got better if the joke larger period that's that's also say there I can or good that Paul thanks for joining us and we'll catch up with the next week thanks a lot net that your team. Yeah we get we get a tough one on Sunday against the chargers still seeing that that works out but. Not again you're eating their seed if Philip Rivers strapped into it. Right sure is Paula thanks again we'll talk soon it. So in terms of you know what that I find interest in there and that might present a business opportunity for us Mike. Paulson hey you know dollar tree was started back in you know eighties when you know you can really get a lot for a dollar. This might be good times started twenty dollar and under store with the expectation that twenty years from now that's gonna present value Seles game. Crack it's a one dollar. I'm here hopes there's a lot. If you can get twenty cans of soup instead of just Allen in that's that's kind of where will be going with the market still in negative territory heading towards mid day right now the Dow off about 77 points. S&P and NASDAQ tracking similarly as well both off about a quarter percent at the moment. And the big movement that does look like a ten year treasury wouldn't that money will be in that direction back below two point seven right now. After being in the 271 ranged from most of this week. But that's about it we're done for the week enjoy the weekend if you watched any football. Know every team with the patriots does whatever they do. We'll see on Monday.