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Full Show 1-14-19

Jan 14, 2019|

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This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. New week here on the financial exchange and after I think what we have with this. Five straight positive days in a slightly negative day to end the week. Markets opening up in negative territory this week but obviously. Still it is time to go before we get to the end of the week given that we are just kicking things off right now chucked out of Michael Armstrong Tucker Silva here. And I wanna start to the show today Mike by talking. About China. They specifically about some of the data that we got from China over the weekend really it's Monday morning in China is when we got it. But the data on China's imports and exports came out. Really early this morning eastern time gains it was not do it on knock of the United States no I was not good for it was not good for. Any value investor Agassi across the board is not looking so hot and keep in mind too that whenever we get data from China. We're a tight with the data as and then I would always built in a buffer here because it's usually not exactly what's happening there's or China posted trade surplus of 323. Point 32 billion dollars the United States the highest number. Since 2006 the highest numbered twelve years or 17%. Jump over the previous year. And yeah of what to make of this why make a few things of that one. We had big big currency issues going on here where. Imported from China to far more attractive in the states last year in hand we didn't really have been the the trade tariffs in place until late last year. And even then on pretty limited good so it did tariffs on May discount is really having any sort of impact on this to. Fix the imbalance. But really I put a lot of this towards currency. Well here's what I wanna do and I know you know obviously the Wall Street Journal so here's an app indeed over the year blah blah blah. Don't really care about the year is what happened in last January. Is relevant to today in any way shape here doesn't matter the world has changed an awful lot in the span of twelve months. I would look at December's numbers and here's what December's numbers showed four. China exports and imports. Estimated exports to China were supposed to grow 2% year over year. They declined four point 4% that's a six and a half percent missed an estimated imports for China Euro for year we're supposed to grow grow. Four point 5%. They each wrong and seven point 6% that's it 0% miss for the month. So do you remember two weeks ago when apple came out and unexpectedly said. Paved by the way our iPhone sales in China are crap or Mac sales in China aircraft were not going to be able to hit our profit or revenue numbers here's why. In every one but myself included we all said. Ha it is there a problem that apple pie as you know selling in China. You know did does does China have a problem buying apple goods there's something that apple is doing wrong in the Chinese market. The answer that we're starting to get now. It is no apple does not have a problem selling into the Chinese market. Every one has a problem selling into the Chinese market it's not that China has an apple problem. Every one has a China problem right now yeah there is a being to be issuing China. And I am. After seeing this data here. It makes me really really interested not to see you know the banks of the world which all report this week for earnings for the fourth quarter. But I'm really interest to see anyone who was associated with selling any type of material get into China whether it's laptops. Whether it's construction equipment. Whether it's our bags were at least partisans you tell me anyone who's selling anything in the China price more than five cents. I wanna know what what their sales look like there because this to me suggests. That there is a fundamental shift it's happening in the Chinese economy right now in in this is eat I mean legacies this is the kind of stuff. Doesn't just stay isolated to China this starts to spill over because if you're not if you're importing 12% less than expected. How is that not her every other country like that at this they're selling Indian. Absolutely it will and now I'm wonder off top my head. What companies are you more of there have more of their revenue exposed to China than apple I mean apple has a pretty good chunk of it but it's not. It's certainly not the majority of their revenue comes from China. No and it at apple I think might even be. Part of me looks apple and says they may actually be one of the the hardest hit companies here just because while they don't have all of their revenue coming from China. The bulk of it's coming from one product where all the growth was in China yet you know apt. Apple wasn't growing iPhone sales in the US they said okay we can maintain and you get replacements and things like that. But they were so dependent on iPhone growth in China. I wonder you know what I look at some of these auto sales numbers where you know you have Ford and Volkswagen and GM all with big presences over there. Ford had a really good year in the US but Chinese auto sales are down 22% year over year I mean. I'd know that you know everyone likes to say noble the other still you know a billion people in China and they're still gonna grow and they're gonna come. You know from these low income villages and go to the city's. They didn't last year. Though they didn't last year and so there's something happening in China and some of this is trade related. Something on the scale doesn't happen just because of trade. Yeah I mean that that's the really difficult part we're looking at these huge drop in numbers in December and but some some portion not all that but some portion of that is due to tree oh yeah and you can't consent to be insignificant but. I don't you're right I don't think you'd be this bad at all we're talking about was trade India changed colors such long. This type of things suggests some kind of fiscal problem somewhere in China and I I don't know where is. Watch the next couple months were like if if I'm right there's going to be some trickles coming out in the next couple months about what's going I don't know if it's at the national level at the regional level of the municipal level. There is some kind of fiscal issue there that's causing this and it's going to come clear at some point in the near future if that's the case. How about a question that is. Ron Reagan possible question past due to possible once Monday morning what better time for possible questions do you any of these data points make. President she. More inclined to negotiate with the trip administration know. Thank you Larry that's done it Al I'll give an explanation now is as to why that is. The does the game that there are engaged in right now is a game of chicken it's who's gonna turn the car first you eat your boat and dune buggies and mad Max heading out to the right and it's who's gonna turn the car first to the right you've got a cliff to the left you've got you know big golf ball. You can't go anywhere so the question is who's gonna turn first. I I don't know it's it's not something that's based on rational things is rational people don't drive at each other and dune buggies alongside a clip they don't do that. What rational people don't do is is this kind of game because it's it's it's it's not good for stability in the long term it's not good for. Rational thinking to prevails so I look at this nice say. I don't think this change the calculus I don't know what the result of that calculus is I'm not saying that either China or the US is going to. Win whatever this trade spat turns into what I'm saying is this bad data. Doesn't change the fact that the parts of party been dealt and everything's already in place. I don't think it makes it I don't think it makes an impact there. In addition to while. You know what we're getting in China some concerns on earnings as we head into the first week of earnings season Citigroup reported this morning. Bunch the other big banks report later this week and then we get into all the tech to manufacturing in the next couple weeks here. What's what what are we looking at in terms of earning forecast right. I really think that we're gonna have a huge set of hits and misses all over the place or at initially the estimated GDP growth her there's US mayor interest for Q4 response B 17%. That is now decline down to 11% so again still over 10% earnings growth which is largely positive. But it's it's. Asking days bring up a lot of big questions about what not so much. Q4 2018 looks like it but. What these CEO's seat 2019 looking like in time of CEO reporting earnings right now I have no idea what to say. I didn't look you look at like a company like apple like Starbucks or any of these big companies that have exposure to China and I'm just looking and saying look. It's an impossible for us to forecast what our business looks like next year but we have no idea how trades gonna turn out and that could add a lot of jitters to the market. Well in in in particular you know you you mentioned apple. Apple tried to get out ahead of this you know apple said look. Were halfway through the quarter that we're gonna be reported in week we need to say hey there's material problems that are going to be happening in China. That are affecting our business. That's a bit like when you come out in in I think has Apple's fiscal quarter I believe ends in January at the end of January. If they're coming out in saying hey by the way this doesn't look good halfway through. In in look they got punished and rightly so because of that you sit here and say. Gee if if they already were trading down and they still get punished 10% there. If you're the CEO of the company that doesn't have the the type of brand equity that apple does the doesn't have the type of of normally stable revenue that apple does. Gotta be a little nervous here and they're going to be some companies that I think are somewhat immune to this in the short term ironically enough I think. Late more enterprise based companies I think you're going to be somewhat insulated from this because. I think businesses have still been spending more than consumers have been to this point you know like consumer growth does start to look weaker and shine wears business spending. We have really seen any signs that that's dipping at this point so. It might be something where consumer facing companies pointing towards China might feel the impact first as opposed to. You know businesses cutting which is you know woodland usually normally it's the other way around but. I just think you know it might be different in terms of kind of how things play out this time yourself. Definitely some things that there are concerning there. And will continue to keep you updated there let's take a quick break when we come back we're going to be talking auto was what kind of auto sales numbers are we expecting this year. And electric vehicles they finally get ready for prime time is very finally going to be able to sit there and say I told you so. Election no right after this break. Mean this there's the charts graphs and numbers all day and just listen to us it's the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio network. Com security's effort to securities America incorporated remembers him as a PC advisory services offered through securities America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies or an affiliated representatives of securities America to not offer legal or tax advice always seek the voice of a professional familiar with the laws in your state. 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. How dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility then 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. All right now get this free guide at 8668485699. Protect your assets and your family call 866845699. For your free guide or you can download it right now and our website legal exchange showed dot com. That's legal exchange showed dot com. I everybody it's Barry Armstrong and I'm joined today by executive vice president from leader bank mr. Jake tool and were talking about this account today. It's called the Zuma rewards account and the thing that really caught my eye on this account is it's a savings account but sort of a god you guys are providing. Two point 05%. EPY. On that account how do you do. Yeah this is one of our most popular. Retail banking products buried so. It's it checking and savings companion Oka and if you qualify. You get some great reward so for example you're 2.0 5%. EP wise your savings account up 200000 dollars 100000. You get 1% cash back and all of your eases spending your debit card that's good. Eight get ATM reimbursements if you use in other things he Tia. And soda qualified by traveling in a Matta town there's not a leader bank branch nearby. I can use that ATM card number and be reimbursed the three dollars to order exactly. That instill the benefit of that is that really expands average network yeah he's in need Yamon. It doesn't have to be leader mink or if you qualify it's pretty simple unions to have your direct deposit owned the bank at least 12100 a month for you need to use. You use you count at least ten transactions a month incentive for these statements oh. It's it's something that customers would do any ways of using right now right yeah it's great benefits. And yet two point 05% annual percentage yield on your savings try finding that in another bank leader bank offers it. It's called Zuma rewards account paying two point 05% annual percentage yield on balances up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them on line. Leader bank dot com. It's called the Zuma rewards account ZEUGMA. 8776917900. Securities offered to securities America each member Sandra SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated be a part of the financial exchange in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. I. Either you really. Like cars. Now I accurately just you see it as a way to get from here there I drove cars. So I I didn't lake. I look I love. High end cars and things like that I like looking at the I I will never spend money on the but I think they're fascinating and more was pieces of technology so. I always like when I when I grew up to give you an idea of how much I liked cars. I got lake road and track and car driver when I was nine years old cuddly guy I love just reading about cars a never spend money on them. But I enjoy reading about the so I always get excited when we have the big auto shows that come out and right now we've got the Detroit auto show. That we are hitting break into this week. And it's a big week for number different companies I wanna talk first about Ford. Just because they've got a big model refresh coming that remember two years ago they re did the F 150. Which is turned out to be at an absolutely smashing success with the new one that they sound bashing I had a thought he'd like that one. This week they are debuting the new Ford Explorer which is really big tournaments there's second size up there really yeah I guess second size up SUV after the Ford Edge and arguably their most important SUV model. Yeah I I elected this word in the car I really liked it is just didn't quite fit our needs but I mean really really assess UV. Ford is making a very very big bet here and I I really think it's either you know. Sink or swim here they are getting out of the car business they're putting all of their bats it seems to me at least right now. All of their money is going on low gas prices. Yup day like it if gas prices goats if if they get crazy if they go to for five bucks a gallon. Sometime in the next five years Ford may be. You know I would say if gas goes up for five bucks a gallon. Four would be in danger going at a business they get an existential problem at that point yet that but I mean maybe it doesn't happen maybe that won't happen any time soon. But they are pretty much X sitting the smaller vehicle business. Across the board they might be doing an electric vehicle next year they announced they had some sort of surprised. To come on that say it's but right now they they're pretty much the only small car the traditional car they're gonna continue making the most. Which by the way is the best selling. One luxury vehicle down without dean has electric car now the mustang the open. So on the cheaper side but yeah it's wondering I think. Ford is likely doing what it needs to and responding to consumer demand they're not moving to all suvs because they want both. I'll take it back they are to a certain extent doing it because they want to because the margins on these are higher for them the more profitable so to a certain extent they want to do that. But if you take a look at the car sales numbers year over year they had no idea it it used to be. I remember in the late nineties early two thousands pretty much a lock your top five vehicles be the F 150. The Honda Accord Toyota Camry. Ford Taurus and then you throw in you know some other real midsize sedan that ever when used to get from point a to point B. You take a look at it today worst doesn't even exist anymore dawn. The camera still gets good numbers probably sells I think about 300000 year at its peak was doing about 500000. The court still sells good numbers yet to 300000. All the vehicles that are right above the now they've taken those sales. It's the Nissan rogue it's the Toyota Ralph four it's the Honda CRV those are the new midsize sedans in today's world. You're driving on the highway what do you see. Everyone in their grandmother has a CRV. And Nissan rogue her around for delegate that's just what it's become right now. And so Ford saying hey were were thrown all our all our cards on the table saying we're going all towards suvs. They they better hope that they are right they gas prices stay like this because otherwise. You're right Mike I don't know they have a good back up plan they can pivot to quickly play to get ready infrastructure takes a long go for. Throws or they can't just turn an F 150 planting to afford torch to dump it doesn't work like no need to just develop big infrastructure. Yeah it looks like they may be might write it is yeah building cars is just not worked for the last five years and you have to rely in your SUV and truck sales so maybe this is the way things are going. But other companies are building in back up plans right unity other companies seem to be pouring a lot of money into electric cars or something some sort of backstop. Four if gas prices go to the cut. These it's Toyota's got hey we got all these hybrids and we always ramp that up these on we're gonna talk about in just a minute but there really investing in their leaf in their electric infrastructure. GM is looking towards more hybrids they've they've moved away from the pure electric with their. The of discontinuation. Of the bull but they they they at least have other things that are in the pipeline. Forty's kind of lagged in that area so it's it's kind of hate it it's an all or nothing. Here I just hours away four completely threw in the towel in regards that are as she I mean their sedans. Antonio has got the camera on has got the record those are wildly popular and men ages threw in the towel their fusion. You even though the smaller on the focus on May may throw a car companies need to go may be in days like Tesla just makes one Tampa cock yeah and maybe that was the problem with these giant car companies back in the early two thousands is they became generalists and everything. And they kind of sucked wind against the Toyota's and Honda's he said no we're gonna do this small cheap efficient vehicle really well and that's it. Now and maybe that's where these car companies need to go forward might succeed as being a specialist at big powerful cars. A while Warner shares via completely bails on their sedans to. All along those like on whoever. The big trend over the ninety's and early two thousands was the move towards centralized architecture so. You build cars for the European market on the same platform bridled for the American you you're seeing a divergence now force acting rebuilding the explore for Europe. No no one buys you look at the cars people buying Europe they're all little near two more things to gas is seven bucks a gallon and they just wanna get around the city you know. That was always the assumption. And if you're actually looking at some of the data is looking at some of the sales of Volkswagen's having there and forged not succeeding over there and it clearly you know all the US car companies missed something out there. But the actual trend in Europe is also going towards these smaller size smaller suvs but suvs nonetheless. And they just don't like the American versions of Volkswagen puts them together and that's their best selling vehicle across Europe right now is our policy they. So I don't know if the trends are really all that different across the world. Maybe China and India are just completely different than in Europe seems they're trending also towards those suvs. The sound making a big move with their leaf they're going to be introducing a new model called the Nissan leaf plus this spring. That is gonna have 226. Miles a charge up from the 150 that it currently use it to get the job done. From what perspective can only drive to a Detroit I mean you look at the Tesla those are over 300 miles you can get on a charge. On the base when at the model three model threes last mile threes and that to 25 to fifty range so I guess that's competing with this one. I don't know from me if I'm buying a car and I can only go 225 miles of that charge that's not good enough where you're going to be able to charge that thing in four minutes out otherwise not get it far enough. We're gonna take a quick break when we come back we've got Wall Street watch and also. Potential for new taxes on the real estate deals and Boston what's going on billion. Like there's something. I was on Twitter. Show breaking business news news hole. Right here on the financial exchange radio network. That speaks here area of great family friendly mountain wind something for everyone including Jane I skiing snowboarding snow tubing aired a special pop. Pay one price program on Saturday night's head of pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboard do you think rentals lessons it's an entertainment that's because one of the largest nights in areas and all of northern New England fans one of New Hampshire most accessible learned to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak. 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To join us Thursday January 17 from 11:30 AM until 1 PM. 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. Come 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 a professional familiar with the laws in your state. 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 beat 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 in digitized paper checks hi this is chuck is not a leader 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 -- to 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 leader bank dot com for more information member FDIC equal housing -- In medieval times a 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. Used 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 between nineteen to sing better. Worse they Armstrong advisory group has a new guide of this month called 2019 a look ahead in have you learned about what me in the market so turbulent and whether or not can stay there to your free copy by calling 803934001. Or downloaded right now Armstrong advisory dot com securities are produced series America incorporated member of finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are unaffiliated. Time now for Wall Street watch a look at the market's performance so far today it until Berrian jug right here on the financial exchange radio network. Time now for Wall Street watched brought to you by a leader bank if you're in need of a purchase or refinance loan. We to bank has some of the most competitive rates into England to dedicated loan officer. Will work with you every step of the way in the local decision making means a faster closing. Reaching down about a half percent from a couple months ago so call right now for more information 877691. 7900. Or visit the monoline leader bank dot com member FDIC. Mike let's talk about lululemon what's going on with the and a up down or sideways. They are ops they had adjusted their earnings and revenue guidance for the fourth quarter and their four year. Full year sales momentum is looking pretty good they expect to earn between about Sammy two and about seven. Four for the fourth quarter. That's up by about eight cents from their previous estimates and about four cents over Wall Street's expectations and news movement up pretty legitimately in early trading up nearly 8% rate. Citigroup reported earnings early this morning up 3% I believe they missed on a revenue but beat on earnings is that the case that is accurate their main miss on revenue came from fixed income trading revenue which was down 21%. Which just pushed overalls. The revenue down pretty significantly. That said it looks like the CEO is coming out and pulling together some pretty strong commentary on maintaining guidance through 20/20. And just increasing. A lot of there efficiencies so generally speaking markets pretty happy on the CEOs come terror and not so much on just the pure data from the earnings but now on future guidance things were pretty good stocks up two and a half percent after being down by almost 1% in premarket trading. I did wanna take this time to go over to our poll question of the day we can get coverage last segment but to us and we are talking about electric vehicles and companies you know potentially moving in that direction. Our poll question right now on financial exchange showed dot com is do you currently own or do you plan on buying in electric vehicles this year. The early results and in state quite this one sided but at this point my computer and Tucker this is an air just on my side correct me. I'm currently showing 100% of our listeners saying no that's correct. So far is very very early so the question is do you currently own or do you plan on buying an electric vehicle this year. Had a financial exchange showed dot com and vote in will keep you updated on what might be be what most lopsided poll result of 2019. What's so for me I answered no I'm not I'm not quite there yet for me it's purely an economic issue. If the cost and the efficiency of these cars. Get down to a point where it makes more sense in buying NASCAR I'm right on board but for now. Just doesn't make financial sense you end up paying a much higher premium for the cost an electric vehicles and the gas prices are low enough that it is just not. Fiscally I don't care sort of boils down. Two for me is well. This is cruel doesn't make financial sense to so why would I do that yet. For me it's the battery tech. It's not enough yet that doesn't doesn't drive far enough. And doesn't charge fast now than those the two big issues that I see. With that the moment now. I'm hopefully not buying another car for five years. I anticipate there may be some battery advances. That helped get me to the point where I could bio is in a perfect world if US meet all things being equal Jeep driving gas car and electric epic electric. Every day of the week. Yeah you know it's. Whether you're talking about you know the the fact that a you're not you know spewing tailpipe emissions out in the environment all the time beat. The fact that electric motors they've there's there's no narrow torque band you press that gas and you get torque anywhere you want as long as you not use in the golf cart sized engine. In seeing the maintenance is a lot easier. Did that there's no there's no maintenance on them it'll have to do anything. If you were in the market to purchase either game. Audi BMW Mercedes or tassel let's just say that you're of that network in Europe that broke just gonna buy one of those four over there where would you be. I wouldn't let Tesla is unconcerned with the company's ability to service them in the long and is I don't know if they're gonna be there. But I have walked Nestle vehicles I would never buy one a because of the cost would be I don't know they're going to be around long enough to actors you know servicer for them you know. If I were picking one of those. No it's a and nowhere to go exactly it probably go I've always liked Al east their little bit more subtle than BMW I've always found the worst drivers to be BMW driver yet there is Joseph beamer yet have are especially the three series now on out just I've always found them to be horrible drivers that there in tidy 85 in the left lane not writing your. Yeah they're they're flipping you off on both hands and their supposed just to make sure you know how cool thing yes exactly I. No not not for me at much more preferred they're kind of the the subtlety of the out yet. I mean if money wasn't a factor route Brody and out here ends remain. Just because they're like flawless vehicles they are in a fund drive the very nice derivative I would I would really really like to test the duels are concerned about their to maintain them. I've never driven a Tesla so like it's kind of unfair to me. For me to pick out your balance I've never even been a tussle as humans and I've never I've never been in one temperature in those years. W bin inn where you've been like passenger you know I I've never even been in a tussle man. So right there with him that's when my 2019 goals I guess. Derek asked ride in tests dealership has come from because on let's talk about this potential new tax in the city of Boston on the certain types of real estate deals what is being talked about and why is being talked. The big issue they're trying to solve here is a lack of affordable thousands of trying to raise money for that species specific item build more. Yeah I mean. You know their time I toss and attacks on the other alternative would be to loosen up some of the building restrictions rate there's there's really really tough to build in the city of Boston. What they're talking about doing is adding it. As much as they 25%. Surtax on flipping so this would be office building is sold twice within two years toss 25%. Tax on it. I would say that these companies are just going to find ways to get around it to hold the properties for two years in a day though do they need to do to avoid that 25% taxes that would be hugely owners they're also talking about perhaps falling to New York State method which is New York Stater maybe it's just New York City has a 1%. Tax on notes New York State tax on anything over a million dollars. So here's the the way that I I look at this is I see that the problem that that we have in the city of Boston this is not unique to Boston. Is that home prices are notes. Completely insane for the average person the average person making you know forty grand a year can't afford to live in most of the city of Boston tripped. This solution as it's drawn up here is not to try to add additional supply at a more rapid rate. But instead is to say okay. We need to funnel additional money we need. To add additional taxes in order to funnel money to artificially depress home prices in other parts of the city by making affordable housing. Yet to me this isn't about them trying to. Add new supply they're trying to stifle price by putting on tax which is just. Seems silly to make it's not a war well and really when we look at who that benefits when it's also and and it still is going to end up being people that are currently Boston landowners okay yeah is they're gonna say okay if there's no new construction coming in Al pale little extra tax as long as you don't add extra inventory and so. I think it self serving I think that it creates all kinds of extra now these that Arkin and of being dealt with. And so it doesn't address the problem which is. We're not building enough housing wreck that is the problem the reason why homes are too expensive is because we're not building enough of them. If you build more. They will come I watched field of dreams it's true there it's true and economics that's how tends to work so. I think this is gonna and says it all come down to just. Be provided in legislation on trying to build do stuff is it too difficult for builders to build instead masters. I think that's a big part of it. And any I think part of it is because if you look at how local interest tends to vote not just in the city of Boston but surrounding towns that high property prices. Think about how hard it used to do any kind of apartment or Condo complex in those cities just everyone comes out and says gee we don't want the traffic that this is gonna add GM we don't want. You know to add all these additional inventories is then I'm trying to sell my house next year and I won't believe the price I want. When the reality is if you don't add inventory there's a reason why your property taxes keep going up year after year if you keep complaining about too. If you're not adding enough people to grow the the only way to grow revenue is hate higher property taxes and stuff so I think the root of it all comes down to. We don't enable enough construction at the moment. New out of the publishing world digital first of media who who are they exactly my. Aired the media conglomerate about the mass Boston Herald last year token. Say that they've got a bit of history you know buying these publications can slashing costs and you know trying to kind of streamline things but they have apparently are there and haven't quite made the offer but they're ready to make an offer on the USA today publisher which is again a company. They RD on 7% in the stock and rumored to be paying you know rumored to say that their retirement about twelve bucks a share to be yeah. Twenty some odd percent premium over Friday's close. Now USA today. Answered just about everyone's familiar with them they are at hotels everywhere they have the largest circulation in the United States I'm not sure anyone actually subscribes to USA today on a personal level. I've never played it I just I don't know if anyone does had never problem accessing their articles to read. The full addition. Have you as either of you spend any time on their website. I mean for me out in the show say you at all it's a soccer website it. I feel like I've only seen them. When you like pop up. They'll put together like travel articles and stuff like patents and has compact music today pops up some reason so here's my question is USA today is known for kind of distilling big complex issues in the late one sentence that kind of covers some of it. If so. Again digital first it's not a re going to be famous for both the original first is known for you know kind of getting companies leaner and how much leaner can you go one USA today I don't know. Like there's not much the lake is not. Much bear down there or what I'm trying to say I guess like. Look it's great that they can get some news out and and I I think it's great that they they they make it accessible for people. But it's not like you have these huge editorial boards that you're trying to cut its not like you have these massive staffs that you're trying to strike down. I just don't know what's there to cut so I just wonder what's gonna be left on this. The other thing for me on USA today is slight whenever I'm trying or attempting to. To read an article there's a stupid full page ad that pops up and I can't find the damn acts to close out of that court enough and is slows my entire computer up didn't really. Angers me. The Marines I mourn it does yeah sure if you took a CBO and Abdul missed an. Back Tucker's English four days later he hasn't looked at one all we can be done now. Let's take a break when we come back and talk about PG edu the California. Utility. Now looks like they're going to be declaring bankruptcy as a result of the potential legal cause they are facing so we'll let you know the latest on PG NE. And those fires in California right after this break. It's been stuck stuck to close your portfolio. Keeps. The financial exchange with Barry Armstrong and chuck signed off 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. All 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 website legal exchange showed dot com. That's legal exchange showed 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. Come security suffer through securities America incorporated members and SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong were presented with 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 a professional familiar with the laws in your state. Hi this is chuck Zahn and I've been doing business with leader bank for many years if you're in the market for mortgage leader bank has some of the best rates around and if you call right now they'll make your process even easier by sending you a free copy of their residential mortgage survival guide in it you'll find critical information for pre approval 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 a few homes and a whole lot about the home buying process but this guy and really helped me reconnect on issues that are so important to the overall process co leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC equal housing lender MLS number four corner on two fronts here are subject to credit approval leader bank 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 homework 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 music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. 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. Subject to credit approval leader bank a step ahead. It's our daily poll question had financial exchange should die John. Vote your conscience there heard just vote. Go to financial exchange oh does come in castaway. So some updates on PGE corporation Pacific gas and electric who what you remember from back in the. All. In November they were suspected of being. Potentially one of the causes of one of the many fires out in California during a time we the campfire. Was the one that they were suspected of having been involved in. They're stock fell from about 47 dollars a share at that point. Down to 24. This morning it's trading 87 a share. Now 80% loss offer their eyes and this is after news debts. They are going to be pursuing Chapter Eleven bankruptcy in order to go through an organized. Effectively restructuring because of the potential. Litigation cause they are facing me and an additional you know potentially punish finds and so forth as well. What exactly is that this that the status at this point I was losing power from this company. Correct now I mean it's gonna continue to operate but it's going to be operating in bankruptcy. I don't know what happens here that if you're in other companies if let's say you're another utility company operating in California are nearby state. And AM presume the pieces of this company might go up for bid. Do you want that liability in our California. Yes I mean PG NE clearly screwed some stuff up like they are liable for a lot of these damages but. That's state he just is being. Wildfire after wildfire and it really has to do a lot more with the environment than it does with. You know any one company or anyone individuals liabilities here if you wanna pick this thing. Born in in some of the numbers just in terms of I guess what they're trying to do to to deal with the situation. Are kind of mindful that they're trying to spend five billion dollars this is prior to this all. Tactics and things along those lines are trying to you know get rid of you know potential trees that were at risk get rid of you know move wires that potentially here and at risk areas and things like that. I was looking through. You know prior news stories here and I'm really have a tough time finding anything from PG NE saying back in sixteen or seventeen like hey we need to bump up rates because. You know there is a legitimate danger of these wildfires and I was looking Ford this morning yeah okay in in what I found. Was actually kind of interesting to back in 27 team. PG and he had filed a safety report with state regulators 660 pages so this was not you know some two straight summer. They reported wildfires. As their fifth most significant safety risk still wasn't something where we say hi there there other. Things above them okay employee safety. They placed above did the risk of fires okay. Auntie genie they they had a person they're said that look the exact rate in the exact rank here was an important. And the quote from the executive was what is important is that the top enterprise risks like wildfire are receiving focused attention. It doesn't seem like they ever said hey this is the biggest issue that's out there they've done. If they have done things to try to mitigate the fire risks so. The and they pulled out over the last three years they removed 460000. More trees than they initially were trying to civility that they've tried to do some things. But the numbers are kind of staggering as far as you know just how bad. The maintenance actually was in some of these areas. You know and in 2016. They spent 435. Million to try to clear did trees back then. That they've had all kinds of issues with high tension lines going down and potentially sparking fires so. It's it's been an ongoing problem for them. Here's the thing I think that if you look at most of the large publicly traded utility companies across this country yeah. I don't think that they're in any better shape than PG and he was I think the PGA was just operating in a tinderbox. I would agree with that. I mean look at all the issues that we have every time is storm around here yeah okay if if the Massachusetts easily caught on fire. Then you know National Grid and and start Meyer ever sourced now might be in the same position the PG anyway I think. I don't think yeah I don't think that's a false statement I think that it's I think you're right on in the PG news operating in an area where it's operate there they are. Folks is Mike Armstrong have been doing the business of leader bank for a few years now if you're in the market for mortgage leader bank has some of the best rates around if you call right now they'll make your process even easier by sending your free copy of their residential mortgage survival guide. In you'll find critical information from pre approval the 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 onto homes might at this point and I know a lot about the home buying process that this guy had really helps me. Reconnect on the issues that are important to the overall process. Call it back today at 8776917900. And ask for their residential mortgage survival guide. If you're looking for a mortgage this will definitely help you. Number again is 8776917900. Per visit them online leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject credit approval leader bank step ahead. Last story for the Howard it's a great went Tosca was selling in ninety dollar top of Mac and cheese at least 27 pounds. And lasts for twenty years folks I mean that's the key factor for me is it like this for twenty years what is in that. It's it's currently going for 8999. So it's about forty cents a pound all of you trappers out there down my batter right there having that they can't keep up with the orders for this Soledad it's a Sawyer it's all college students you can't buy it on you can't buy it on in store it on line how do you think we'll take you 27 to Mac and cheese Paula to weekend. If not general. So we have for this hour on the financial exchange will be back in a little bit with more. It's not too late to get a great grade and whole 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's. 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Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage 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 music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. 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 member FDIC equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. He's 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 if first make sense Mike to look back to bid at 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 factor pensive. And just have the ability to add more volatility into both the bond and stock market 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 and between nineteen. Yeah I mean huge huge issue for a second half eighteen 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 once you 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. 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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 tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks -- rewards account has a two point 05%. Annual percentage yield if you're searching for great great it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to -- businesses that number again is 8776917900. Or visit them online at leader bank dot com. Minimum deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees and reduce earnings reeks of it to change without notice leader bank a step ahead member of the icy. And me. This is the financial exchange with Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. But Menem Monday on the financial exchange so little after 11 AM right now and as we. Open up the week let's take a quick look at markets to see where we stand right now the Dow was all 409 points S&P off twelve. NASDAQ off 46 is the moments in negative territory to start the week. Chuck not a Mike Armstrong and Tucker still be here and might we get some data overnight on China specifically import export numbers and they're not good and this to me is starting to show signs that while trade is having an impact here. There's something else going on in the world economy that doesn't look particularly good to me that I'm I'm getting a whiff of something that doesn't smell very good here. Yeah a serious arming the data that was reported on the large dinners upward on an headline news is that. The China trade serve record 302 point three billion dollars the largest with the United States that they've had since 2006. 17%. Jump Europe for years that that's big news in and of itself. When you're pointing towards is some economic data. Based on December of 2018. That just makes China look really really weak from an economics perspective just consumer spending seems to be the issue here breeze imports are down massively. Month of from. Yes of the the data that we have here so Ian in all 2018 if we'll get the full year China's exports. Were up nine point 9% Suton is that there and say gee you full year nine point 9% OK they grew their export economy by 10% that's good. Exports were down four point 4%. Year over year for the month of December so what do tells you his take. Probably a lot of people were worried internationally hey we might not be a league goods out of China is cheaply let's front end load that lets you know effectively. By everything we need from China in the first half the year and then you have a big deceleration coming. For ex reps are for imports Chinese imports overall were up fifteen point 8% for the year. But down seven point six year over year in December who tells you there's a real problem with domestic demand in China right now. That isn't just about iphones. If there's a whole demand problem that's happening there in when you see imports year over year. Down that far that tells you start to see an impact on other economies in the world so I think this is something where. You know we had seen. Then there's number that I get out of South Korea back in I think was August. Where South Korean exports were down significantly and as it hey that's kind of the canary in the coal mine that something you know he's coming here. This went out when I look at these numbers even if you get the trade situation resolved tomorrow. The kick might already be bait you might have a big enough slow down coming that even if you get trade fixed doesn't resolve all the problems that have built up in the meantime. Yet that's entirely possible way. Here's my real concern is. You know 510 years ago so let's go back to 2008 for instance a soap back in 2008 the United States mystery ouch. Fifteen trillion dollars GDP. China. About a third almost five trillion dollars there they're the third largest economy in the world back in 2008. US economy fell apart in really led the world to raid just a worldwide slowdown based in the United States demand fall off a cliff. At this points Chinese GDP is twelve trillion dollars US is still by far the largest at nineteen trillion dollars this is as of 2017. But there was nobody even close backing away when things fell apart. China has gotten pretty close are they really fall apart here you could anticipate the type of recession that we felt back you know wait in terms of worldwide slowed. On an in let's talk a little bit about there's Europe for years import numbers are down seven point 7% all I'll give puts in context is the biggest country. The biggest country that China imports from. He is Korean import about a 177. Billion dollars worth of goods from Korea every year. So you take a look at the Korean economy it's about a one point seven trillion dollar economy. If just China says okay our imports and gonna continue declining you know 810% year over year that's point 1% off of Korea's GDP. Right just from China not any spillover effects and you say OK now what happens with others so you start to play the string out. In some of these countries like the biggest countries they import from number six Germany. The German Economy doesn't look so good anyways manufacturing production Germany was down four point 6%. For December that is the worst number we've seen since the financial crisis. Germany doesn't really have a whole lot to stand on right now so if things get worse from them given that China imports almost a hundred billion dollars were the goods from Germany each year. The German Economy isn't exactly home and along saying you know we can weather that storm you know there's. I did have spillover of this really if this really really slows down the maybe you know maybe it doesn't maybe it's just slowing down and instead of 10% GDP growth for down at five or six and that would be painful but not detrimental. But man at this thing slows down to the US pace or lower then yeah there's to be huge spillover impact. This feels. And again we haven't seen any hard data on this yet. It feels like there's a fiscal issues somewhere in China with borrowing and lending I don't know exactly what the case is right now but has that. Feeling just because numbers like this don't happen in a vacuum so there's something happening here. But I don't think it's gonna be clear for at least a couple more months what that is but might. My spivey senses tingling you know what Peter Parker legacy airs go like I I I got that going on right now with China. I don't know if China can afford to pump the amount of money that the United States did and there economy like we did back in no way. Where they gonna get where they are come up with that. It's a good question. To know is less original and the Chinese account I mean and the Rosen is just go land the Chinese my elected did the United States. Don't have an answer for him but this is something. Did this bears watching here just because with the size and scope of the Chinese economy now. Eat it feels like there's something here I don't know what it is yet but. My spider sense is tingling. Let's talk a little bit more about apple and specifically. Where they go from here so so apple over the last couple years have been trying to make bigger inroads. In two healthcare and one of the services they recently rolled out was a health records service and what kind of early response are we starting to see from us it's. Largely positive this has been actually move by apple they're trying to make a move where a lot of other companies including Google have failed. Which is reaching out to health care providers providers and providing a lot of that information to. The individual consumer so a everyone's experiences rage you go from one doctor's office to another. They don't have your medical records they have to fax them over because somehow all these medical officers to faxing data over. As they're trying to put it all in one place now this is very very difficult because you have to network with. Hundreds of different medical networks this is just one of the things that Apple's doing. Egos in it fits in with an overall theme that I could see really work for apple which is. Privacy. You talk about every other tech company out there that services the American consumer whether the Amazon FaceBook Google. They all have big privacy concerns and so far apple has not. And what I like about this is as you mentioned apple tends to in general not an upper case but in general. Privacy security here are pretty important when it comes to what they're able to do we have we've had the whole BO debates. On this program about you know the the legality and whether or not apple should. You continue to make their phones as secure as they are. But the fact is they they prioritized it's important thing for them. But there's one other piece that out prioritize as well which fits in nicely here and that's user interface and user experience then you have you ever tried to be you know actually get a copy of your medical record for any reason it's it's. Is it's awful it's miserable the view looks like it doesn't make any sense it looks weird is making its part of me thinks that that's intentional just because hospitals want to keep all that as opposed to you know giving it out team. The fact that apple was so user focused I think might make it an easier system for people access in use as well. I think there's a long way to go before this is a reality. Even on a regular basis bars multiple hospitals being able to use these types of systems and things like that. Because as someone who's the father has worked in hospital IT infrastructure for the last forty years. Let me tell you it is a cluster. You've like you have especially with the lately knows what with all these hospital mergers that you have. You have you know one hospital uses three different systems that don't talk to each other half the times it's a mess. But I do think apple might be able to makes an incremental progress not necessarily on the back end. Brown hospitals deal with that. But maybe in the front and for how us as consumers and health care users are able to actually use an old when our data as opposed having hospitals in the driver's. Yeah I mean the concern that I have with Apple's succeeding is that Google already failed. So Google attempted this back in 2011 and failed and gave up doesn't mean that apple can't do I like that and the united to have a love to see apple beat Google it's Upton but. Not a lot of people do. Here's a question though. What's the last product that apple tried to get into. Okay it's someone else failed on that they've been failed on themselves there's not many like you think about it every once at all like we've tried tablets before like knowable by that. Ever want on finance people you know Smart watch people Sanaa late fitness book everyone's buying Smart watch is now late hold their speaker rate. Yup OK no that wasn't somewhere that people have failed. Ellison it was a tale OK you guys so I don't like apple for liquid apple takes a second look at something someone hasn't been able to do. And says hey maybe there's a better way we can do it. I don't like when apple plays kind of trailers as a dealing gallons let's try to get in this home pod thing because everyone's buying them yeah and then they missed pricing misread the market so. But I really think that apple has missed stepped up the last couple of years and just focus purely on how sleek and fund their design is. And not enough on subnet people genuinely do care about which has privacy. Yeah I am really feel like that should be the highlight of a lot of their advertising. Which is taking me you know go ahead and use your Google takes a go ahead news or Samsung and you know order on Amazon but guess what they're selling all of your data to their parties and we are now. Let's take a break when we come back we're going to be talking more about China and the potential fallout for companies in a slowing Chinese economy right after this break. Chicago tour. Everything business and finance page the financial exchange with Barry Armstrong and chunks of 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. 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 Titus 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 -- 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. Come securities offered to securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage -- 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 slender 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 member FTSE equal housing lender MLS number four corner and to try to zero subject your credit approval leader bank a step ahead if you're real estate property management company you need to banking partner that has all the right tools to keep your operation efficient -- 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 -- managed Condo association payments in digitize paper checks hi this is chuck is not a leader 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 -- its innovative -- rent payment platform leader bank has a team of business bankers that are on call to 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 BBO leader bank dot com for more information member FDIC equal housing one. The financial exchange. Is Cole overrule then 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. So I realize something over the job. The break that we just went through. And it had to be even tees that we are going to be doing tribute to its not I didn't but it it says on our schedule that we have to do trivia so I think we're beneath trivia right now and giveaways and. Free stuff so trivia today is brought to you by the Armstrong advisory group with markets still volatile now's a great time to review your portfolio so call 800. 3934001. Incident your free no obligation consultation today that 80393. 4001. And if you haven't played trivia with this before yourself works I read a question you if you know the right answer. Text does that answer to 63566. At the right number yeah 63566. Always struggle with that on Mondays. And they and the from there today we're gonna take I think maybe the seventh the right answer. And that senate the right answer is gonna get a fifty dollar gas card sounds so get if you know the right answer your Texas at 63566. It's a first time texting us use the word Berry as you were first. Word this is a tough one here so Matt's been on his game over the last week and today's no different. 54 years ago this week The Who released their first UK single. Titled I can't explain and so we're asking trivia questions about The Who. This this is a tough one here six months before releasing I can't explain as the coo. The band released another single under a different bands name. What was the name of the band prior to being known as the crew. I'm always surprised I think these questions are how impossible and the ones they always. They are our our listeners always know the answer is going for walks him. All thought the whole boom. About a history of the crew and I'm pretty sure this why meant it at the who'd just announced that they will be playing at that park. Did that them. Interest and went secondly this summer. Thanks. Some good I don't have a parliament and information out after February that it clicked and Ray Emery in February 8 just at a time when it February so anyways or trivia question six months before releasing I can't explain as The Who. The band released another single under a different band name what was the name of that band Texas 63566. September 13. And will let me it's so hot now this summer actually this fall most technically the summer. Are you right to put a one week and up. So the headline from the Wall Street Journal apple rattled markets with warning about China who's next we talked a little bit about China last segment. What's what's your what are what are potentially seen well I mean you're talking. Hey I think it's really any company that has. Retail and competitive sales and shined today there are some companies that do business in China and there's not any big competitors there are so. Nike for instance. Has this brand that so far hasn't had a lot of challenge from other big local startups or in any. But Starbucks. Does face a lot of competition and they got downgraded last week I believe Goldman Sachs and I mean be very very inches to see what they have to say about their fourth quarter. I'm 2018 and check that has been. Their growth engine. For the last. 35 years old or is developing China and half they've put a hundred stores there. I'm I'm very intrigued to see what happens there. I'm really curious to see in animates this last week at think but. Any kind of luxury consumer goods brand when you tossed Nike into that bucket. I'm talking quietly true luxury link up talking like law you know it is cold should you know that those types of companies and even know when he high and what are your high in consumer brands. Lake I don't know that the pitcher once nice watches come streamline it yelling at I just you know whoever's like myself horrors are those types of things that will buy like expensive jackets and clothes and stuff like. I'm really interest to see what those companies are saying. Because the data that we got to get the imports exports which suggests that the result. Big big problem with consumer demand in China. And so on guessing apple is not the only casualties there it's anything upscale. Is gonna get hit Nike I think probably qualifies to a certain extent. Like. I certainly am trying to think of it just I don't know any of the stuff because I don't buy expensive clothes but those are the types of things that I. Whoever buys handbags isn't buying handbags and warned China that's what I'm getting. What about. What about things like chipmakers I mean he has differences they point an article points of the Texas Instruments does a lot of business over China there's not a whole lot of competition and there are not to provide to consumers but rather manufacturers but. I guess that would I think Texans Richmond really slow down into these are real global sell them there's a lot SS is going to China to be manufactured and shipped elsewhere. Yeah I mean Samsung guided that chips were part of their problem with bear come with their you know earnings have it. I think even chipmakers can start getting hit in this is after chipmakers are party struggled and 2018. Largely on the back of weakening demand for anything crypto related just because so many of them had seen gains because that when their mother was by a bit point. And so now you know the bitcoin. Nerds are kind of no longer popular. And maybe you've got a true business slowing on top of that so it's something to to watch there. Another thing that we're starting to see popping up folks that our government employees that are getting paid. Really having problems on an individual level now but also it's starting to get to the point where it's spilling over to local communities because they're not spending money in those communities. So yeah and and a lot of different things are impacted you know I've been hearing a lot of stories in the DC area particular airline daycare centers. Take place within federal buildings and they can't they can't open because nobody I think all of us. So then I mean now most of these people are probably home well anyway because there furloughed but again other kids can't go to day care either. But all sorts of different things there's an article in the journal today about a Vermont brewery that can't get the business ones they are planning on because of the shut downs that they are not. Making this two million dollar purchase that they're planning on making all kind of USDA loans that are happening for farmers and things like just a lot of stuff that's not happening now we did get told the big big item that we are looking at. Well our tax refunds yes and tax refunds are allegedly going to be processed no details on who's going to be doing it but allegedly those are going to be processed. I I know we have no idea on this. But at at some point this past and right. They get at it's something in the fact that you're not technically now the fact that you're not saying anything is what makes me really nervous it was a sitting here and again we're we're now. Technically now it could go on. For a very long time realistically. History would tell us yeah it's got and at some moderate berries prediction was tonight so this will sleep so I kind of weird it would and I go. Until like February lately January or February right. You said the 25. So I got another week and a half before I lose yeah okay so Newt Gingrich quoted as saying. I think he said late February. Don't and we have another six weeks of this group brewing company debt let's take a break when we come back we're going to be talking a little bit more about who's affected by the shutdown and also. Netflix earnings coming soon. The financial exchanges and live 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 a 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 guy and 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. All 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 website legal exchange showed dot com. That's legal exchange showed dot com. In medieval times sharp says was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Used to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Hi everyone I'm doctor Timothy Gallagher founder of Gallagher chiropractic and medical wellness and I would like to talk to you about it. Important educational seminars about a breakthrough treatment option for arthritis coming up at the throw club in Concord do you find yourself unable to do the activities that you once enjoyed skewed opinion because you've been diagnosed with the arthritis but you unhappy about your doctor's recommendations from drugs or surgery. Well we have a solution for you stem cell therapy I know there are a lot of questions and misconceptions out there about stem cell therapy and I wanna provide you with a current scientific literature about this FDA approved completely safe repetitive injection that could help you with the arthritic pain please be my guest at the throw tennis club in Concord lunch will be included so register at. Free stem cell event dot com forward slash Concord dash Lexington or call 9782084015. Join us Thursday January 17 from 11:30 AM to 1 PM. It's 6 AM you don't meet your home. Doesn't matter my body knows the drill anyway because we do this every chance we get. Like a kid at Christmas he's going to be the window skis at the door hot cup of coffee in hand that you dream just in time for first tracks of January's dumped three feet of snow. What is quite open with over 360 acres three mountain peaks trees game six straight parks and if his only super fight tape on the tickets at noon and T and dot com slash tickets or by the flight 32 cart is WL lift ticket discounts all winter start saving up blue and MTN dot com. Bury 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 our dealer or like Satan and it never got merit planning has. Even 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 fail I got to write the check. Maybe not call right because what we would do is we would allow the 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 want. Count that they might lead 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 Medicaid in order doesn't work out you could do something called a 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 crushing in 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 toll free at 8668485699. You might not be able to keep up with all of the latest business and finance news. And there's the financial exchange with Barry Armstrong and John zarrella on the financial exchange radio network. So last segment we did a trivia question it was one that I thought was pretty difficult the question was six months. Before releasing it I can't explain as the crew. The band released another single under a different band named what was the name of the band. And it turns out that the name of that band was the high numbers released. A single called zoom suit in July of 1964. And someone actually knew this answer. GAAP mark from new market New Hampshire the correct answer taken home fifty dollar gas card and trivia today has brought to you by the Armstrong advisory group. With the market still volatile now's a great time for review your portfolio call 803934001. And set your free no obligation constitution today. Again that's 803934001. We actually got I think over twenty different right answers on that so it's miraculously our listeners should never disappoints me. When it comes to trivia by the way Tucker also deceit on February 8 at two. At Fenway Park there is a race skating. Thing going on called crashed ice again. Has ever seen us. I haven't. It's offs is this one of those kind of late girlfriend Lerner kind of thing except on ice away a body on track I was there attempted triumph or does this public the hills and stuff ball yeah it's it looks costs they start off on this like giant downs downhill there's you know. Gut wrenching turns there's. Almost moguls and it seems like it's really easy to break him. Cool. Oh while the other does look cool it's our audience. This doesn't allow actually put out by Red Bull that triads in January is really attempt to do it factory. And just. So yeah you'll there history only have three kids under the age two it's now it would yeah I play well enough work we're BR right but there'd be in some real real trouble. Took a little bit about the other cities and states that have the most federal workers affected by this shut down I'm guessing obviously. DC is. AAs is really the most impacted and you know there's a lot of other seasons say that you might think you would have some impact where his big military guys but those people aren't for. Those people are still working. So other than DC there's not a whole lot of real. Concentration. But you know Huntsville Alabama has been nationally aired aeronautics and space administration to NASA. That that's you know that's getting hit by the expert about getting 95% of all NASA employees are currently on furlough meaning that we are not exploring the great abyss. At the same rate that we used in Chicago has gotten at. They got to federal executive board. Large and are 50000 employees that are impacted too big I mean even for a city like Chicago in a big city you're talking millions of people. Fifty dozen people not getting paid then the debt that's tolls and that's a real thing I I know multiple people from government agencies that are getting paid now. And they've been contacted me in the last week saying. Chuck what what do we do we've beaten we need money we don't have it and you know these are just paper pushers in these these are people that are doing. Significant amounts of work for the federal government and they're not getting paid any insurance interesting statistic in the DC area. Federal workers on on average earn 50% more than on federal workers. Not surprisingly well not right now police now its I mean. And on federal workers in DC obviously retail and protect the restaurants everyone who's in DC's are either you know federal worker or contractor for you know that the federal government in some way. Folks as we age long term care is something to make shore you plan for how quickly what your assets be depleted. If you had to write checks to the tune of 141000. Dollars every month. Courting Genworth the average cost of a private room in nursing home in New England is just under a 135000. Dollars a year. In that average cost is expected increase. To over a 180000. Dollars by the year 20/20. If you or a loved one are faced with an unexpected nursing home state. India haven't done your planning yet. Before you write that check pick up the phone and call the experts at Cushing and Dolan 668. Story. 5699. Cushion and dole has been helping fairways just like yours protect their assets for more than thirty years they put together a brand new guy for this month. Called planning for procrastinators. It'll offer you strategies they can help protect you on the steps. That you need to take your sorry help educate you on the steps that you need to take to protect your assets and your family. Do not put off this call any longer get your free guide today by calling 8668. Story. 5699. That's 866848. 5699. Or download the guide right now at the legal exchange show dot com. Struggled a bit about Netflix Michael. What are we expecting to see from them or earnings this quarter. They're supposed to be. Pretty strong enemy we always get this kind of interest in data millionaire we always look at user growth -- we subscribers we think they're gonna happen is right now it looks like the the viewership going to be way up against bird box which I had I think I've seen the previews for Sandra Bullock movie got a thing went viral there's 45 million subscribers what's what's the deal with. And that to move out it's it's not a show to movie yes so what's was getting all those laws as a sister wild concept at Angus is pretty go to. What's what's the concept is that you really hammer the concept and I am so about it a video it's pretty much like similar to require place accepts its with your eyes. They. You have to Wear blindfolds. Or if you see your if you take up your black police he agrees fear in you wanna commit suicide. And is getting great reviews and it's gone viral was called bird box I don't know. You have you seen it no I am I I yeah I will see it I don't subscribe to Netflix that's can be difficult for me. You can hop on just was like my parents and everyone else in which is off me give you my count if you want. So that's the and you can't complain about a remote enough years you give it to I'm not giving it an actress and that was I was being sort cast your would you mind give me as an impasse sort of there. No yes I'm not doing a anyways so Netflix I think the big question for them is going to be that user growth that they're obviously taking out a whole bunch of debt to continue to fund content creation. The question is can they grow fast enough to overcome that debt burden to this point you know it hasn't been an issue investors have lost faith in the company yet. But is it something that I do think. Is a threat to their long term survival. If they don't get their content costs under control. Or continue to grow at the rate they've been grown. I think they can't I think they can't continue this growth because of what they're doing internationally. Where what I find interesting is they're not looking at anything as far as life programming style and to this point it hasn't mattered. But I do wonder if they need to look into something there I don't know what I. Just because there's there's two kinds of programming the people watched today it's you either have you know you you've been to watch a show like no watches shows just. And in the times that's no windows that. Or you live thinks it's whether it's news sports concerts anything like that. There's still something there that it keeps people watching on a regular basis and might might question with Netflix is. The cost for creating the kind of content they're doing are so high. Is there something that they can do to offset that using live program. I would rather they. Quite frankly I'd rather they didn't have him what's the base membership for Netflix interest costs like ten bucks a month yes I think even in an eight dollar one maybe so compare that the cheapest available thing you can get for live television. I mean. I think the cheapest one out there's maybe like Sling Media wait and stream live news and stuff like that that's 25 bucks a month. I'm not saying a streaming package. I'm saying their own line of content there you know something where you know instead of the Tonight Show they have their own 11 PM show Winfrey. Yes something like that it's appointment viewing I'm not saying date like all day but something that's appointment viewing the people tune into and I. I don't know what it is but just something to consider there. Also happening in media right now Megyn Kelly NBC officially parting ways Megyn Kelly giving a full pay out from that NBC contract. Yeah nice it was a 69 million dollar contract with the networks are yet to be getting all of that. Not a bad spot to make don't know that that's the thing with these people though like. She has to find the job right. And he had it in that business that anchor business you have to be relevant at all times these views drop off the for a couple years. It's really tough to get receipt I don't know ball right away and I think she could. Kind of push until summer some of them like OK so you've. I mean but I think he musicians that this year she's been off fair for what. Since last summer August and once I don't know I think he got a I think she's got to find some per square. Do you think she wants to be back in the game yes yeah I do. I don't know there's a place for her today. And here's why okay. Megyn Kelly if you if you're not familiar with thirty probably living under a rock but I'll give you that the quick Mike quick view. She obviously started tore her career at Fox News spent a whole bunch years or don't know exactly how many but it was like seven or eight years at Fox News that's where she cutter tees. And by the end of her tenure there. I don't think it's a stretch to say that she wasn't particularly loved by the Fox News crowd right I don't think that she really found a home there when it was all said and done. It's clear that she did not find a home at NBC that trying to. And so I I wonder if there's a place for her. You know she she comes from a background of being a lawyer she was a a lawyer by trade before she got into. Commentary and so I wonder if there's a place for her in today's world. To be a voice of kind of middle ground because I don't think that exists anywhere. And I don't think based on what I've seen from Megyn Kelly and and how she's kind of used her talent. I don't think she wants to swing too far to one side or the other necessarily. Ensue I don't know if there's a place for her to be comfortable in today's media world. I do know there's an election coming out I do know there's an election. Maybe she goes back there. We'll see egg I don't know about faux I don't I think she lands a major. Public. Media jobs sometime in the next I think she's back on Ayers and then next it's worthless and the like though weekly news or that ninety leaked news on CC BS or ABC you're supposed I don't know that's as an Irish picked up somewhere in the next six six at 630 every day. During Kelly. Ike exiting that may be is being a good fit but I I don't think there is a place for her. For simply doing commentary replicas I don't think she skews far enough to either side to be successful in that role with today's media environment it is. Let's take a break right now when we come back in the hall from CNET road show is gonna join us to talk about the key yes stinger and in particular. Drought in the key stinger in the snow what's that about what you know when we come back. Chuck in the financial exchange on FaceBook dot com slash the financial exchange this is the financial exchange radio network. 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 -- 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. 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 a professional familiar with the laws in your state. Your dream home is within reach with a Jumbo mortgage a loan from leader bank the 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're real estate property management company you need -- banking partner that has all the right tools to keep your operation efficient -- 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 to help you collect rent managed Condo association payments and digitized paper checks hi this is chuck Zelda -- to 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 can look around 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 BBO what a leader bank dot com for more information member FDIC equal housing one. Dirty suffered histories are incorporated remember him as a BC and advisory service is a protestors are devices incorporated Gary Armstrong represented a strong advice for her to secure America companies are unaffiliated and there's a secure is America did not offer legal text voice always he did voice and professionally with the laws in your state. This is a special announcement for all landlords chasing down only 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 he ran 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 received 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 through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from you. Tech Stewart Barry to 63566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. As promised Tammy hall from CNET roadshow joins us now. Just as it is every single week at this time and Amy thank you for joining us. Why do you think should be all the ally in economic and I'm glad they're. Yeah we're happy to keep your round it's great talking to you every week so today we're talking to you about the the Kia stinger but in particular. You took this thing out in the snow and now I'm curious. What was the reasoning behind this to begin with the unit is not what I would typically think of ISIS' no car mile based on that. Exactly oh you didn't hear her real quick real wheel drive in which it is you are a little bootable little. That a lot out there that is all of the EEU. All. All. So we brought up with an art buyers order at that. They went out he would retire. An hour and a value. They went. Ring connect harmony and having all of pride and having edit it went acquired. Bet that this being the captain and all I'm. And that. Right near had bought into our IRL. How warning and maybe a little bit not quite as much it's their real well. Don't eat on a lot of what you do on the break and that was fantastic and ever it'd Erica I'll. M in general what what kind of cars does the stinger compete with the aids at if you like I've never really gotten good handle probably never really looked out enough. What won't easing its biggest competitors probably are. Don't like eight Batman port back. It but at like at fort Erie about in line with back in. Our. But yet our a lot it viewed at her. Thirty aren't but is. It popped ran our back on it. I don't simply app I end. What I really like about it is that it has more about our. Have a little bit by bit not a couple now that aren't buying on I know. You're being that I notice. That means we're about it and the wind is I'd not a back wit. Low temperature. There late I didn't know that that was the thing. My mind. About. That Iraq out no shopping spree back at it Oprah no no no yeah. And then if there. Go out at. If you'd get out there and it paid in. Oh Carter like the art of war you know it didn't want you but I went out of our idol. It a little bit more at you which is not get it out so. There some of those mean there were a little bit of compromises but all in on it really mean outed. Now. In terms of well what do you get for the price obviously you mentioned that I think the top in kinda gets up and that 50000 range it is it compare bowl with other offerings in that range it doesn't even kind of go up a notch beyond that. In terms of the opera that has really get it barrier. Eating and we'll have had to play. It at by monitoring adapt it altered a bit. There is he there all of that we I mean apple cart and I were both under there a lot about where where with. It up like eight and you'll. You know everything in our argument at W walk in you can get apple cart played under. And it in you that you get it all as part of the 10 yeah and Hyundai are both really good that is it a lot about. Sure sounds like get Emmy we appreciate you why take the time not just talk to us but also test this just this one out in the snow when. Certainly we look forward to block catch up with the soon. Aren't all there at the other Everett out ethnic. Have more will be our. Does that start today Zanardi started. Yeah out front part of our day and then. I believe I what are you will looking forward to seeing the most right now. Well wake up and you you are in and out that. But it that card and ever that we ought to know that it. And I'm a Mac and 500 L is over and where are so. Well. April and I've taken that through the mountains but at least not in the snow I would. Thanks for the update ME we'll catch over the next week and everything you are in Detroit. Amy hall from CNET Roche are talking about the Kia stinger by the way. Have you've seen the the pictures of the new super that Toyota's going to be watching did at the beginning in the show I suck amount on to where it's it's pretty impressive yeah it's a good looking because well 365. Horse sees it it looks like looks like a whole bunch of fund drive ultimately that massive I've always had a preference for. Little cars in general just because you can go fast will they go fast you can like it's it's more channel or you can steer wherever you want zone. Little little cars like this I always enjoy tennis seeing what companies do to get creative with but this one looks like he could be a fun one dollar and death. We're at the time for that David Dow was off a 107 points NASDAQ is off about 45 actually 52 now in the S&P is off. Fourteen at the moment. Will be back tomorrow with more on the financial exchange.