Jan 28, 2019|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
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 you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. You know this this might mean the other. Happy is Monday of 2019 not even thus far but I'm willing to stake a claim. That this could be the happy is Monday of 2019 for the whole year when it's all said and done. Why is that the case. Well it's actually not stock market stock markets down about 1% one and a half percent most major indices now so. That is one piece of bad news but let's talk about some good news number one. It's Super Bowl weeks are we got back coming up just few days number two the government shut downs finally over yet. So we could finally stopped talking about that we're gonna do one quick story on and then never talked about ever again hopefully except in three weeks later. Except in three weeks may be so obvious maybe it's not that joyous by the way you did predict. The 25 would be the end of the arm and I did so nailed the exact date yep. It's a daily no exact date real now. He checked and on predicted via what are January 10 that the Obama knows I think it was even in December could have been. It it might have even been in December than I got it right I'll be very impressed you hit the nail on you know like I got the exact date that's like Tucker said it give did you colleagues acting like. Last week are known and this was like three weeks before this was late and I think was maybe the first week in January when I couldn. Good time these things down. Yours do you still look at that it posed notes. 800000 government workers back to work most of them by a little bit unclear exactly when their first paycheck will be at depends on each organization but. That is good to hear his Friday was a big mess in terms airport started shutting down and yet at LaGuardia obviously closing for over an hour so. Government workers are back to work. And you know there's some some data beefy New Hampshire we'll see news in the next few days about you know what people considered to be the economic loss due to shut down. We we still don't know when the for a load an unpaid workers it can be getting that back pay it it depends on the agency kind of how their budget. In other villain billion payments happened. But it's going to be within the next two weeks that back pay is going to be paid to those 800000 government workers. On the other hand you do have any kind of government contractors and who's not a federal employee but simply doing business with the government. They are never getting paid for that time. He had the the contract and company won't get paid for that period of time each different contracting. Company decides whether or not their employees get paid during a shut down yet so some of them will some of them will not. Syria that's about half of them that TO their pay will be in question the CBO Congressional Budget Office came out just this morning saying that they estimate the government shutdown cost the economy eleven billion dollars. Only three billion of which they considered to be like a permanent stuff you know the eleven billion there's about eight billion baked in there that will be made up because yes. Back pay and things like that but a court three billion is just. Economic economic activity that was a loss during the average. Yeah on 9 January 10 chuck made prediction that the government shutdown would be done on the 25. There so that's that's pretty good sometimes better be lucky than good no sometimes to bear to be good in good if that makes sense at all which doesn't so we get the government shut down finally over so. You know it does at least kind of put that to bed now but it does raise the question based on what we got and here's exactly what we ended up getting out of this we ended up getting a three week what's called a continuing resolution which is not a yearlong budget. Now but simply a three week extension of previous. Of a previously agreed to budget levels. Effectively through February 15. So warmed right back at it pretty much. What do we got honestly. Eighteen days from now something like that nineteen days from now we are right back up against it. And so. The question that is on everyone's mind is they are you know what what are what's gonna happen are we gonna have another shot down and so forth so let's let's start there okay. I don't think anyone can conclusively say yes or no because again this is a dumb game of chicken dip in it's really hard to figure out. Who has the you know more and more will power in those types of games. What I will tell you. Is that there is interest in track record that has developed here is we've now had three shut downs in the past year we had one back in January lasted it went in like August. And then we had this when the first two were relatively short. In all three of those has there been any meaningful. Move. On the key issues that that's that's held this up which is that the president president trump. Wants funding for a wall on the southern border of the US has there been any movement on that front not yet. Zero in in three repeated instances of the exact same game is we've we've got up against this three times now this game of chicken. And there's been zero movement so. Two things that that I think you can glean from this one. Based on that track record eat it doesn't seem like this approach is going to get wall funding in the future. And beyond that based on the polling that we've seen coming off this. I think that you had it in here's where I think the impetus for this was. Was that once you started seeing flights canceled and things like that. I think you had. A whole bunch of people in the presence you're saying we can't do this anymore would we need to back off on this and so I actually don't think you get a shut down in three weeks. So I don't think he gets shut down for three respect for another reason I think there at the White House might declare national homers and they might. Because they can they can't win playing this game I doubt it in I think to be completely honest. I think senate Republicans have said were were not doing this again I think if if you've read between the lines and everything that was said last week. I think it was senate Republicans saying we're not doing this again guys wheat we need to stop the sudden and so you may get a national emergency declaration. But I think work kind of the room trying to play this as far you know play this room. You know the shut down game just because it hasn't worked it elected it there's been no meaningful shift in any way shape performance so this does take us to our whole question of today. Do you think the government will shut down again after the February 15 deadline yes or no. And vote in that question it's again financial exchange showed dot com. And we're gonna stop talk about the shut down now because I'm sick of it I'm done with that. Instead let's talk a little bit about what's going on in China at the moment story from the Wall Street Journal the headline is US manufacturers take sales hit in China what exactly are we seeing him. Well we're seeing pretty weakening demand from it mainly things that have to do it big infrastructure project now I wanna. Also acknowledge that apple you know took a really big hit in terms of their iPhone sales. But the the weakening in China and I'm seeing seems to be for the big projects that they've been working on the last decade that don't seem to be continuing over the next decades on talking about the huge highway projects. The massive here in new city developments that they've done. That that really seem to be over the last decade they were demanding you know really goods from like caterpillar and big chip makers back. Going forward it looks like that demand is weakening whereas you know the consumer demand. People buying Starbucks in China seems to ignore the smaller types of items still that demand still seems to be there at that point any interest in east. At the some pulling it up right now so this is from a who is this from originally so this is from Simon teeing it. Who is. Effectively of a market analyst who looks at China an awful lot and what's really testing but the Chinese property market just because we've we've you mentioned haters there's this struggle in trying to get. You know beat. You know construction type projects moving in China. Here's what's really interesting in the Chinese property market right now and this caught my eyes. If you go back to 2010 as an example and you look acts. Who was buying homes in what what types of home purchases were happening. 71% of home purchases and China back in 2010. Were primary residences. 22% were vacation homes. And about 6%. Were third homes for people now okay. In 2018 in Q1 so far herbs are Q1 of last year. 30% of new homes purchased last year were first film's. Only 30% down from seventy John. 43. Point 8% were second homes 25 point four we're third homes. Now to me that says one of two things either A everyone in Chinese fantastically wealthy is able to buy second in their homes with no problem. Or be theirs and there's a whole bubble in the property market in the government propping up claiming that second their homes are being bought and they have no idea how to act to deal. Yeah I think it's likely the latter I mean yet there's certainly been an expansion of wealth and a you know wealth disparity in China the last. Two decades so yes there are a lot more people buying a second and third homes but. Mandated. Release and when you see dale like that it looks just a lot more like propped up propped up numbers. In announcing these homes aren't being bought I do think there are being bought. But it's a question of Pei where is the capital actually coming from and how these homes actually being purchased that I think raises some real questions here. And I'll tell you based on everything that reads we see about China and we're gonna go into. Some data in just a little bit on a couple companies once we get to Wall Street watch but caterpillar and Nvidia it was beet beat China issues. That they are both mentioning. Gains. You know China China's government effectively can never say that its GDP shrinking. But China's GDP is shrinking right now and I don't think it's even close a promise that they have said that the GPS tracking I think the problem is that when Justin knows that they are. Line by how much. What do they David says are not shrinking shrinking big growth history. I don't think the growth maturity I think Chinese GDP is negative right now you do I think Chinese and I don't even think it's close. You look at US export numbers from Japan to China down 7% year over year the density. Who number UF every company out they're saying there Chinese sales are missing by 203040%. I don't think there is even a chance that China's economy is actually grown right now but they hit it made it is the entire narrative that they've built. For pinot effectively the one party control China's take this is the path to grow. And you know keep in mind folks in this this Chinese economy is. Intrinsically integrated into US companies take a look at some big big US company caterpillar 3M. Both of those to make more than 110 of their sales from China. Say this is you know well enveloped in the US economy as well and if you are right chuck that there is a slowed down not slowed. Negative GDP growth in China then yeah it the implications there can be huge. I think that this this is something that is going to be. The biggest story of 2019 when it's all said and done not you know ever talk about US China trade negotiations I think we're past the point where that matters to be honest. I think we are past the point where it matters. And the only question is what kind of intervention do you get on the fiscal and monetary side to keep things support not only China but also in Europe and then you know abide by association. The US because otherwise. I think you're looking at both Europe and China. Are are. Effectively they're their economies are. Falling apart at the moment. In the only question that I have is what is done from a policy perspective to keep them focus otherwise they're not stand up and they are not staying up. Let's take a break right now when we come back. What are we talking about the housing market in Maine in what kind of records it's set and also. The SEC setting its sights on Carlos Gomes pay will talk about all that and more when we come back. The only just stare at 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 Ned. Work 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. Com securities offered to securities America incorporated member in SN BC and advisory services offer to securities America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies or an affiliated representatives of securities America do 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 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. Academically experts have 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 web site legal exchange showed dot com. That's legal exchange showed dot com. Hi everybody it's very Armstrong and I'm joined today by executive vice president from leader bank mr. Jake tool and were talking about this account today. It's called the Zuma rewards account and the thing that really caught my eye on this account is. It's a savings account but sort of a good you guys are providing two point 05%. EPY. On that account how do you do. Yet it's one of our most. Popular. Retail banking products buried so. It's it checking and savings companion Oka and if you qualify. You get some great reward so for example you 2.0 5%. EP wise your savings account up 200000 dollars 100000. You get 1% cash back and all of your thesis spending your debit card that's good. Eight at eight here 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 in them 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 yen. It doesn't have to be leader main core. If you qualify it's pretty simple yet to have your direct deposit and the bank at least 12100 a month for you need to use. You use you count at least ten transactions a month incentive for you statements oh. It's it's something that customers would do anyways. Right now rightly gets great benefits. And yet two point 05% annual percentage yield on your savings try finding that in another bank leader bank offers it. It's called Zuma rewards account paying two point 05% annual percentage yield on bounces up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them on line. Leader bank dot com. It's called Zuma rewards account CU GMA. 8776917900. Securities offered to securities America ain't member Sandra SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if part of the financial exchange it'll stay. By texting us and 63566. Start your extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. Let's take a quick look at our question of the day up right now on financial exchange showed dot com do you think that the government will shut down again after the February 15 deadline. 61%. Of respondents saying yes 38% to 39% of salary saying no at the moment. Again I don't think you will get in other shut down because. There have been three successive tries by the drug administration to use government shut downs to get border wall funding none of them have been successful I don't match and they're gonna go back to that well for forced time now. I'm not saying they won't try to do other things to build sent wall. But I do think that. They're not going to go down that road just because it hasn't worked like how many times you beat your head against. That Walt no pun intended. I'm I'm and no on this but I'm not nearly as certain about mr. prime like 55% times and no it's not gonna happen but there's. In my mind pretty good likelihood that still could well just remember that I did just exactly you did get you to shut down around and hold it not anyone's head for the rest players a year or about this for the next three years in real life. Probably I'd say that's accurate. Talk about the housing market in the state of Maine Maine so 171864. Homes changed hands last year that's a one point 3% increase. Over 2017 and a brand new. Record for me the median sales prices up to 2151000. Dollars. That value jumping seven and a half percent increase year over year. A really strong numbers across the board. And you mean America lump them in with New Hampshire and Vermont Dennis having just not seeing quite to the pace of home sales growth that you seen in the other parts northeast in other parts of the country and it's really. You know kicking and kind of late in the game here. And in part of this people don't realize how big the state of Maine actually is in a lot of cases you know see you get used to driving across OK there's Massachusetts. New Hampshire and Vermont. Mean it's huge bouquet and to put this in perspective the the median price in the U lowest praised county in Maine. The median price in hope of Branson's right Arista county. Was 90000. Dollars chair for the entire area now Thurston County if you Google it. And see where is that is north of back to this this it's pretty much the top of Maine just about. Okay it's north of Baxter state park which is where the Appalachian trail ends. And so this is like up nearly Quebec city and all that. Lay down its its north of Montreal Ottawa Toronto pretty much every major Canadian city on the East Coast or on the eastern side of candidates for the north and yet it's. It's pretty much the top of me and so it's not surprising that you have relatively low prices there because you know to give you an example to get from. Trenton with the biggest seed is up there even I don't ignore this is no Bangor south of that. I had two hours south of that that's my point is that's prided Agassi or near there right here like four hours just to get to Portland Maine so it's not surprising that property prices are you know only averaging about 90000 years so some good news for the state of Maine overall I do think lower prices in general probably helped them somewhat. And I'll tell you that Portland there has been doom three huge huge. Revitalization in the last couple years hole and of good restaurants opening up recently breweries all all kinds of stuff that's going on there now now. Sure we industry not much in the way jobs a huge tourist destinations Portland area but I don't see much in the way of him big new companies relocating to main like you do see in parts of southern New Hampshire. Where is the the LB factory. Therein is that Bob and what may and I amateur radio and as I think it's in Brunswick in didn't they brought on a whole bunch of new employees in the last three years Oreo. Freeport I believe. Report report. OK so it in any case and they've been hiring up there but it you're right there's not a ton of new manufacturing that you hear about. Going into Maine at this point Maine by the way interest in fact about the state of Maine. If you look at the amount of coastline that mean in all of its islands possess. It's actually enough to get you down to Florida and back believe it is not just because of all the different colds and you know little violence and things like that. I think that really mean yet there's differences in tax laws and things like that tube at New Hampshire puts a real. Big effort on attracting Massachusetts businesses they aren't the border. Mean really doesn't seem to have that push no not not at the and it really is at least buoyant tied in to say we're really tourist destination for Devlin yet. The SEC investigating on Nissan over Carlos Gomes he disclose what what do you make of this mine. It at least legit somewhat legitimizes the charges that Japan has brought up it doesn't really to me legitimize the way in which they've handled it. But if the SEC is investigating here there at least has to be. Enough indications of some sort of evidence let's keep in mind this is a very early. Early investigation there there are no charges being brought it's just a request for information at this point. Yeah I think it's early enough that I I don't know if it even to me signals that they're there's anything that's inherently wrong that was going on. I I think it simply OK so you've been holding this guy in Japan for the last two months maybe we just need to do our due diligence and figure out is this something we should be investigating as well and oh by the way. Part of the reason why you might be hearing about this now. The the SEC was largely shut down for the last month term anyways and so. They haven't been able to really do winning thing over the last month just because these personnel have not been out work because of the shut. So let's take a little bit of a break right now when we come back we've got Wall Street watch a couple big names caterpillar and in video that we're gonna dig into. And also some changes in Pfizer's business plans they start to look at producing more cancer curing drugs. Like there's something. What was on Twitter. 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On Thursday January 31 from 11:30 AM 1 o'clock. PS 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 2019 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 up. 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 can SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong were presented with a strong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the voice of a professional familiar with the laws in your state. 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Or email BBO what a leader bank dot com for more information member FDIC equal housing one. In medieval times a sharp says was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Tony team was a rocky year for stocks including nineteen be the same better. Worse the Armstrong advisory group has a new guide of this month called 2019 a look ahead in -- you learn about what may in the market so turbulent and whether or not it can stay there to your free copy by calling 803934001. Or downloaded right now Armstrong advisory dot com securities are pretty securities America incorporated member of finreg SAP C and advisory services are printers 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 you don't Berrian jug right here on the financial exchange radio network. It is now time for Wall Street watch brought to you by leader bank of. You're in need of a purchase or refinance loan lead bank has some of the most competitive rates new wing and but dedicated loan officer will work with every step of the way. In the local decision making means a pastor closing call right now for more information 8776917900. Or visit them online leader bank dot com member FDIC. Mike we got a couple big names big glee in negative territory today. Let's start ignorance of what they are big league in negative territory. Now so let's start first with Nvidia they are currently down about 13% they were down as much as eighteen. After the open. What what the heck is going on with them. I get tired this is a big big miss and it is all China related that's really the only thing they are talking about right now. They are either reported or earnings. On February 14 is when those are coming out and they gave some guidance saying that they now expect quarterly revenue of 2.2 billion. The expectation for revenue for and he was two point seven billion dollars that is a half a billion dollar decrease. Only really only attributed to current market conditions in China demand for their chips that they do a lot of gaming types of chips and there have been. A number of delays in China China actually shut down the approval of any new video games being sold in the country's. There were some government issues there but really it seems to be a demand issue they are bringing down the entire chip sector as well in the micron Broadcom all down based on this news as. New concerns that it's going to really just. Float the entire chip main segment. There chipped by the way also be in data centers in their revenue if if you project this out and actually do the math. It looks like they're heading to a year over year revenue decline of twenty. 4%. There revenue for this quarter will be the same as where was six quarters ago so. This is as you mentioned a huge huge potential miss for the mayor. Caterpillar. Opened and was down about 8% at one point taking a look at it now just to see where it stands at the moment you know down about eight and a half percent so. There are also struggling what's what's the issue for them. They are and I'm gonna say that the the impact of China is not quite a significant in the quarter as it was for Nvidia but it's in again and bring down 2019 profit that ranges initially analysts have been expecting a profit of about 1273 share between nineteen how to put brought that expectation down to 1175 to 1275. So clear and the much lower end of those expectations. But the current court they earned 255 a share their expected to earn two and 99. Mainly again that is coming from input costs and lack of demand from China their revenue though. Was above expectations slightly silly pulled in fourteen point 34 billion dollars or you can see that at least in Caterpillar's case the sales are keeping pace. Led the input costs really seemed to be hurting them they specifically point to back in Q3 that terrorists ranting about forty billet at forty million dollars a cost their bottom line so. That seems to be a very large impact Caterpillar's well. And that is Wall Street watch presented by leader bank call now for great read on a purchaser refinance loan. At 8776917900. Or visit them online leader bank dot com by the way one of our techsters. Graciously correcting my pronunciation from the last segment we're talking about. The northern most county in Maine it's era stock actually not a Ross stuck they're stuck so era stoked so. My dad. Actor Nvidia real quickly I just want touch on this again. For anyone know where this is I think the best performing companies in the stock market in 2070 Italy also you can. V you know take a look at their chart of the last five years in they have effectively had a effectively quadrupled their stock price of the last five years got as high as 281 dollars. They are currently trading at 139. Their stock price has been cut in more than half and really for months. Bought in and let's talk about. How and why this happens okay. So let's go back to. When it was pretty close to its peak okay wait September it was a 281. Bucks a share its 52 week high was 290 two's a pretty close so. Again in four months literally for most of the day how does a stock lose half its value wolf first of all. The stock was trading at that point at a PE a price to earnings ratio. Of somewhere around the north of sixty. Okay. What that implies is look if you're willing to pay sixty times would a stock is earning today. The net seconds to keep growing awfully rapidly in order to justify that. So when you come out in each say hey by the way our sales are gonna declined 24% year over year. Groups like that's that that's kind of a big big miss for you there. Yeah the tough part about you know that's tough part about buying these high flying tech companies today you know there are a lot of people that earn a lot of money on Nvidia but he. You don't know about their projections until you get an earnings reports like this you don't know what the growth in gaming is going to be of the next few years until you get these projects. It and I think what's really important on a company like this is to separate out that there's a there's two key components went when you're looking at any stock price there's two key components. There's what a company's business he has. And then there is what people think that company's business is going to be in in this case what people thought Nvidia's business was going to be. Has drastically outstripped what actually is today. In eventually you have the gravity of that just pulls it back where hey. You can you can fly up as high as you want for a short period of time you could even go a couple of years in this case with people buying into that Stewart hey here's where the business is going to be. But eventually you gotta come back to where the businesses in the fact today Nvidia's business is not what people wanted it to be. Talk a little bit about Pfizer. So Pfizer. Trying to move more towards oncology. Twenty years ago Pfizer sold zero drugs that treat cancer today they sell seventeen. What's I guess ain't the strategy behind this and be what else are they continuing to do to try to beef up that part of their business. So I mean the strategy has to do with the fact that Pfizer they made their name on Lipitor the high cholesterol drug and today they were. Key to that business for very long period time that is no longer a protected drug and a lot of different generics out there challenging it. And so they can shifted their business to be more focused on specialty types of drugs you know really expensive the average cancer treatment costs over a hundred grand a year. So they're specialize in that area. They've also found that by going after these more specialty drugs the cost to market that is a lot less so do you need to go out there and talk to every single. Primary care physician about your cholesterol drug and yeah you gotta be very very big salesforce did you get a huge sales team that he knew exactly if you just need to market this to the cancer specialists in this specific type of cancer. A you've got to driest drastically smaller workforce the big question that I have. Really for any pharmaceutical company at this point is when is their breaking point in terms of our country's willingness to pay these prices went is there a policy change on the government level to say. Yet that's all well and good but we are not going to be paying one point two million dollars for this cancer treatment is just now. It in it raises a good question so let's take is again healthcare as part of our economy. And I think one thing to look at here. Is health care as a percentage of GDP OK just how big the healthcare sector has gotten now because. We've seen a pretty drastic change. Ian at the last. This goes back to 1980s and do the math carry the 139 years ago okay the last 39 years. You go back to 1980. And in the United States. Healthcare spending was about eight and a half almost 9% of GDP pretty much every other developed country. Was about the same France Sweden Germany the Netherlands Switzerland Denmark New Zealand Canada Japan. All the right around there yeah. If you look at the trends since then since 1980. Health care spending in those other countries is still between about eight point 8% in about eleven point 6%. In the US seventeen point 1% of GDP. Seventeen point one so you can make your case hey US GDP is grown a lot has healthcare like there's been all this money flowing in the healthcare. But that also means that we're spending more and more of our paychecks on health care today as well we're spending twice as much today on health care. As a percentage of our paycheck as we were forty years ago. And you know the big thing to keep in mind there is that the results don't play. Right you know are on the way better but they're not what they're up double we're not living 260. There and but they're not better than other developed countries know that that's the point that I haven't we spending heck of a lot more of our GDP on health care. And our population isn't any healthier than those in any other developed country. Exactly so the question is okay does it in also this is not sustainable. So lake okay so in the next you know. Thirty years we get almost an avenue at 35% of our GDP coming from healthcare chair and that's just it's not the sustainable model like I wanna go you know eat some food and watch the suitable stuff and I'm an out of money for that if you know. And I go into the Super Bowl. And again part of the issue I do get to San part of the issue too and I think you made to give president choppered. You know credit is due. If there's an argument that we might be subsidizing health care costs of other developed nations and other developed nations put in cost controls around how much they're willing to. Pay for certain drugs and therefore. And there's no such cost controls the United States we end up paying a lot more for the same treatments that other developed here in countries that. And in in I think that's it's a key. Pointed at the when they keep coming back to lose we spend so much more in the outcomes for us or not that much red lake in a lot of cases they're not better. You know we we spend it all about how much money we spend. Treating obesity related. Problems whether it's diabetes heart disease all of those types of things and we spent all this money developing drugs in order to try to you know lose weight you. And what we just eat better they go to any grocery store given us an appropriate section takes about 10% the space in the grocery store. And then you've got if everything else takes up the rest. Generally that everything else isn't particularly good for. Like this have you ever like actually sat there and wondered gee why don't we have a cookie Iowa baked goods Iowa frozen lake. Why do we have all this crap cereal aisle seem like you you look at all this stuff. That's not good warrior maybe we're just starting from the beginning buying the wrong crap defeat ourselves. But. Drawing out the they're costing between US there's drug spending and foreign country durst obit. This is one of those situations you know I everyone is Texas well you know free markets need to figure this out genie today you know get rid of government controls and alliger tackling markets healthcare exactly. In. This might not be one of those issues that free markets can solve. Beat 'cause none of the other countries are on free markets to move the forces and we can't force Great Britain to say hey you need to open your drug marked free markets you can't force France to say that. So it might be one of those circumstances where the free market is not going to solve this issue. Let's stick breakdown when we come back we're going to be talking about the latest and it you lamp birds bid for whatever the heck is left of Sears and who might be standing in his way. This is stuck stuck to. Close your portfolio keeps the financial exchange with Barry Armstrong and jokes done well 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 -- 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 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 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. Can't security suffer through securities America incorporated members can SIPC and advisory services suffer through securities America advisors incorporated Barry Armstrong were presented 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 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 from 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's equal housing lender ML customer for Portland to try zero subject to credit approval leader bank a step ahead. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate 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 -- 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 87769178900. Is the number to call or visit them online at leader bank dot com. Member FDIC equal housing lender ML customer for Portland to try zero subject to credit approval leader bank a step ahead. It's our daily poll question had financial exchange showed Doug John. Vote your conscience there heard just vote go to financial exchange oh god come and test away. So Sears appear to get some. What if the lifeline a couple weeks back when Eddie Lampard the former chairman areas that chairman. Of of Sears and the head of ESL holdings. Made a five point two billion dollar bid to purchase about 400 Sears and Kmart stores and keep them operating. But the biggest unsecured creditors of the pension guarantee it pension benefit guarantee corporation the PBGC. Is saying. We don't think this is gonna work out so well and they've got a pretty good reason why they think it's not gonna work so well. Yeah they do is it PBGC anyone unfamiliar age if you ever worked for Polaroid and probably into intimately familiar with the PVC. But their government organization that basically serves as an insurer against the US pension system from failing. And you know their point with all this is hate you know if you let this go through then you are going to be basically allowing. ESL and add Lampard to buy at a company out of bankruptcy with a 64%. On. Fund yeah 64% funded pension plan and at the end of the day we're gonna be stepping in today to cover that liability unacceptable and. Also apparently in this is as we start to get more details about the proposal. Yes l.'s proposal to buy Sears. Effectively so what what's been going on here is two of the brands it used to be under Susan bro were Ken Moore and die hard they were both sold off one point. But the royalties from those from those brands were being sent to the PBGC in order to pay for some of the potential liabilities. In USL's proposal to keep seers of floats. Those trademark licenses would be bought out by yes sell in so that money would not be going to the PBGC anymore and look I can tell you. Deep do you think that Eddie Lampard is going to start making massive payments into the pension system for Steelers after doing this yeah. Yeah that's yet you elect to the eagle by a failing retailers alike can make the pension solvent and then lose all my money. I don't think that's why he's doing this so this where's your bad. In terms of where this goes. I would liquidating or are we we get bought out I hope he's liquidating. I hope it's liquidating his this is that's honestly the best thing for the employees it's the best thing for the creditors and it's probably the best thing for. Age you know the the US government quite frankly here's the question that I continue to come back to. Assuming that you are under the age of 35 trillion age of 45 and still looking for a long term career. Why are you still working its years now. Yeah I answer that question why have you not left. The Cutley. At what point lake. I understand there might be people who have been there for forty or fifty years and maybe they're not looking Tilly built declined to career ladder maybe they're saying. Hey look I'm I'm doing is just as I wants them to do for a little bit if it goes it goes yeah. But if you're 25 or 35. In your work either you know in retailer in corporate. What what's the long term plan. What what's your long term plan. Maybe you know having the ability to really navigate a bankruptcy on your resonate with dad be real real builder for your next job by yeah I don't know but it's just I just I I don't know how they still have employees I guess and another opt interest of peace news gold's gym apparently taking over whole bunch of vacated Sears locations most of traditionally shunned gyms because they who once sweaty people there. Now every mall once sweaty people because it's already sweaty people are better than no people that's what Mulder saying you know I'd seen jams that he seemed doctor's offices the one thing that this article mentioned that it picking up some more space high schools. That makes a lot of sense that your community college after high school Alia mine. You've got pretty new space that you can get into for really cheap. I would build a community college campus closed shop in all one on folks. Pretty hard to find a bank the best checking and saving accounts that are provided decent return but if you're in the market for one this deal that you're gonna wanna check out. I've been doing business with leader bank for many years and so if you're in need of a bank with great rates on checking and savings accounts will be no further than leader banks you know rewards account qualifying customers get 1% back on debit. 10% back to featured businesses with no minimum balance required and no monthly fees but that's not all. Leader bank Zuma savings account has a 2.3 5% APY. If you're searching for rape rape. It's time to call leader bank. At 877691. 7900. The number again is 8776917900. Or visit them online at to bank dot com minimum deposit open and earned AP wire is ten dollars 2.3 3% interest rate mass residents only. These may reduce earnings were subject to change without notice leader bank a step ahead member FDIC. So Irish workers roll back to work today. Refunds puritan you know able to file your taxes as of today I believe. But refunds even though they're going to be getting the system up and running might be delayed a little bit just because they still to train a lot of these workers on. Pay the tax code change last year here's how it actually works yeah that's. That's the one thing that it was kind of not mentioned yours this is a whole new tax return that people are going to be looking at so that that will be inching to see how much against a way to think the other piece that people are going to be inch and seeing is. I think there's a lot of people expecting a big old refund because of the tax law changes. And kind of ignoring the fact that they actually paid less taxes throughout the year because with holdings that happen yup and remember mine. Oh did it pay got smaller refiners got paid more taxes well no go to W two. When you look at that election find you paid last. Interesting interesting. Folks market still in negative territory right now we're back in a little bit with more on the financial exchange. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917. 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 the Xperia a great family friendly mountain when something for everyone including Jane night skiing snowboarding snow tubing aired a special pop pay one price program on Saturday night had to pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboarding two things rentals lesson tips and entertainment that's because one of the largest nights in areas and all of northern New England fans when a New Hampshire most accessible to learn to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak for the latest info go to pats peak dot com that's pats peak got a job. Pats peak ski area and had appeared New Hampshire. That's speaks seven interest premier ski and snowboard mound is 100% open with day and night skiing and riding close to home fed to the a dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're banking is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. And get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC's equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. The money matters radio network WB and W 11:20 AM and W 275 CM FM or Austin the money matters radio network. Hi this is chuck and Mike from the financial exchange as we start off 2019. I think it first makes sense Mike to look back a bit at 2018 and talk about some of the big themes that we saw. That move marked create a couple big dips to 10% dips over the course of the year. What caused the more key factors but I. And it 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 a particular in the second half of the years the trade conflict between the US and China how do you see that continuing. To affect markets as we move deeper in the 2019. Yeah I mean huge huge issue for a second half eighteen 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 reelection season with eight giant economic headwind. And 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 printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. And medieval times sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Hi everyone I'm doctor Timothy Gallagher founder of Gallagher chiropractic and medical moments and I would like to talk to you about it. Important educational seminars. 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It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great rate 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 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 the Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day your city your world stage and or depend on today about economic and market trends plus get breaking business news every day it's. And now the financial exchange with the very Armstrong and sharks done us. Well our long national nightmare is over the shut down ending on its 35 day last Friday on January 25 which. Tucker will be so kind tell you. That I predicted. Two days two weeks in one day before. Predict the exact day of the shut down checks out of Mike Armstrong Tucker still be here and so we've got the shut down ending but. We don't really have markets rallying in fact we have markets selling off pretty significantly today. As we continue through the morning here Dow Jones currently off about 360. Points the S&P off 34. NASDAQ off a 106. At the moment. And Michael looking at this despite the fact that the shut down its ended. We have talked to me that there's going to be some economic impact from the shut down but it's not you know major story that's moving markets in any way shape or form. I think the bigger takeaways are we got a couple we get a one earnings report in one piece of earnings guidance. That were about as bad as I've seen in recent years and specifically related China and I think that's what we're seeing as far as why the sell off does happen. Yes there you mention caterpillar Nvidia to companies really leading downtrend this morning Caterpillar's off over 8%. Really. Not a terrible revenue quarter but they gave really bad 2019 guidance terms earnings per share they're seeing increased cost. As well as just that slowdown in China where they do about a tenth of their business in video on the other hand down 12%. On what was a really really bad forecast for bearings which won't be released until February. But again seeing a massive slowdown in demand from China. Which is going to be a big theme this year and Nieve if you're an investor today. You really need to be considering. Not only you know okay how much Chinese exposure to I have in my portfolio but of my US companies where's my China exposure you know I gave that exam for caterpillar. It's about 10% of their revenue from China directly. You one other one of the big companies out there that are maybe US companies that have made be they experts to Chan that might be taken on action. And in I think that you know when we talk about the situation in China right now the more data that we get not from China because the data that China tells you. Discount is wrong. It's I mean it's a discount it's wrong it's it's not an accurate representation. Of what is actually going on there. And I think when when I look at all the surrounding countries that do business with China that's how we get a sense of what's actually happening that your. And specific that keep coming back to this when the what happened late last week Japan's year over year exports to China down 7%. In that tells you. They believe there's a demand problem and there is not just a you know gradually nicely slowing economy like China wants to tell you. There is a real problem there that's what caterpillar saying hey we've got no demand in China that's what. Nvidia tell you hey we've got a real China probably. There is a drastic slowdown that's happening in the Chinese economy. Two to meet what this looks sorry to interrupt you but yeah me what this seems to look like at least. Is that you know the average consumer in China is spending more than they did of the last decade and half but I think the issue is that. The portion of depth of spending in that country that was coming directly or helped by the government. Was just the vast majority of spending in the country for the last two decades and now that is really starting to appeal back quite. I don't know the good statements about pay the average consumer there just is like it's the only thing that I can tell he was not as much stuff is being bought. I don't know even who was buying half the stuff to begin with like right it could have been individuals acquitted in state owned enterprises. In some cases it's hard to differentiate one from the other even so the only the only. Real thing that I'm garnering him the way that I'm kind of trying to guess at that is based on some of the company's earnings that we see ya there is like. You know the consumer still buying Starbucks coffees. They don't seem to be deterred by that so it's not that bad you know they still seem to be buying. New Smartphones albeit not apple Smartphones but they still seem to be buying those types of products. But big infrastructure projects like I didn't do you know six lane highway doesn't seemed beginning bildt's new cities don't seem to be going up Lester and center. And you know maybe it's where all the spending was coming. So would get the China issue kind of lingering out there but we've got a whole bunch of things that are coming up this week won't we talk about what's on and on tap this week. A few huge huge tech companies reporting earnings apple Amazon and Microsoft all lined up to report earnings this week. FaceBook too ugly we've got FaceBook as well. There's a fed meeting and fed press conference is going to be happening on Wednesday I believe. And we've got you know talks between the US and China that are going on right now Teresa may is bringing in new proposal. Two UK lawmakers trying to get them to approve before she takes it back to the EU which probably won't work anyways but hey let's give it shot. So there's a whole massive stuff that's happening this week off this can be fun week this could be a fun week Italian. It might be in my beer really un fun week depending on how these earnings turnout AA it's going to be a news packed week. It's the big question I have about you know we've we've talked about. The slowdown in China and how that's impacting things and if you're investor that's been concerned about a much more concerned about the slowdown in China than I am about the trade war with China. How do you suppose this might impact negotiations. The slowdown in China and yeah I mean if we're getting indications that things are really considerably worse than the Chinese Government is willing to state publicly. I would think that that puts president trump and a very strong negotiating position. I don't think so now. It's it again it in a game of chicken it's not about who's feeling more pain it's about who is more willing to feel said pain now and at this point they get I just look at it from a perspective of governance. China has a president who was president for life. Yeah it doesn't matter how bad things get there now I do think he's concerned with his legacy in the legacy that he's trying to build. For China so I think there's something there. But it's. I think when you look at the core issues again they're they're not about how many soybeans China imports. Eats about intellectual property protection it's about. Currency is like it it's about all the things that actually make an economy tick under the surface. And I don't see any reason for them to Budd John. If they were ever a time where we could you know push it and see that it happens it would be now because I think if you don't get it now while they're going through these. Massive economic changes. Yeah and you're definitely not gonna get in the future. So this is this is a big big week as far as. All kinds of data that is gonna be coming out let's take a break now and when we come back Gretchen to be joined by Steve deep political he is the owner of dol B goes. You be talking about a raffle. That is going on right now. The could send you to the Super Bowl that's coming up right after this. Break a short little tour and 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 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 claiming 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 and 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 hi this is very Armstrong and I can help I've got a brand new guide out this month that will review the up. Ups and downs of the past year while providing you with information and assistance that you'll need as you strive to maintain your assets and see them grow this year's economic forecast is cloudy at best so called right now you can get your free copy of my new guide at 803934001. That's 803934001. Or download it right now at Armstrong advisory dot. 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. 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 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's equal housing lender MLS number four corner and two front zero subject credit approval leader bank a step ahead. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making means a faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who 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 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC's equal housing lender ML customer for Portland to try zero are subject to credit approval leader bank a step ahead. The financial exchange. Is Cole a brutal England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed Doug come and find the station closest to you. This is the financial exchange radio network. As promised joining us on the line now is Steve people oppose the owner of W is one of my favorite restaurants in the entire world and did you talk about what not to some food but a whole bunch of us sports that we're going to be given a way that Steve's actually given away as part of this roughly of Steve it's good to have him. There acute or the world that the universe. Are very. Well look I've yet to be off editors Steve single I wanna reserve judgment but yeah at the top of my list they'll sell out thank you Eric that are being belittled it rendered it. Our order we're doing. We do to rappel that we do every year this year we partner with. Rock so it's a rock rap old dot concerts rock Matt Light myself. And what you get there is you get cute hit it in the game. Delta fly you down there they got a great hotel indigo to right downtown you can walk to the stadium it's it's unbelievable right now that. And then the prosecutor in the case of the NFL. It it's a big deal that's something that I'm cooking you know 32 ships sit there and around the country to big event that happened every unit before the game. Side and then. Thought it would WS is that the governors are Atlanta. So it in the league took a pre party before it again he limited to but it's unbelievable. But what really course is we got another trip today. So now you have two chances to win. So we're gonna get two different people. Trip to the well an all ordered that dollar. We get it how ten dollar minimum and that also ways to you can also get. Signs stuff from gras inside staffer Matt. You'll see you know you keep you can put in more money you get more steps up. You know it's an incredible thing per dollar of rock grapple dot com. Steve so it's it's not just the Super Bowl tickets because obviously you know you you got that game on Sunday but it it sounds like you put together that's a whole weekend work the stuff he can do and it's. Pretty much good for just about anyone. Brett Brett it did really has its you know I we've we've been battling an opera ten years have been restaurant market and I love Atlanta I think you have a lot of foreign. You know it's a it's a great hotel out. In what would scripted everything covered you know all I mean you get down there and you'll see that you get to go to the party you get to go to the game to get the wider lead. It's an incredible trip and I don't like that and cost if it did he decided it really is unbelievably it was the best part is. It's going to charity you know all about responding to four away itself. Boston food bank the light foundation. Children's hospital and then I accomplish. I did not mean Barbara Bush hospital at Children's Hospital so four different places are getting this morning so. With which to me you know that's it's all about right. But it is and look as you mentioned I did some basic math just try to figure out I'm guessing this total package is well north of 7000 dollars when Adam between your tickets and airline tickets and hotel and party tickets and don't like. It's a whole bunch of money that you you're you're buying here potentially and as you said you'll have to put in a dollar so one ticket is one dollars that right. Red ripe yet ten dollar minimum but I don't sorry your numbers a look at Serb Army. Tickets range from 4005000. Eye catching tickets just 7000 just for one think it. OK so yeah I'm way off on that and so I wasn't even close. Steve let's say that someone wants to buy more than one ticket they say look one ticket sounds great but I really want more to get any kind of bonus by buying more tickets. Yet yet you get by if you spend more money than you can get a signed jerseys from the wrong. You get a signed football from battery get signed up from rock with a more monies spent. The more little treats you get from ground and from Matt Light you know three constable champion. So it was in the hall of fame where you know the picture. I mean it's it's pretty corn every week we are having people spent a lot more than ten dollar obviously you are the thing is going really well. Really well received because all the money they locally you know exit it's part of New England you know the money's not go wondered. Somewhere else itself staying here and I think that's what you really courted you're helping the community here helping our hospital the food bank. You know the light foundation or. That's right up about it on the news is that immigrants and the women are also. Helping Richard B co opted to do your part they'll help out there that that's right ticket so cool about it. Steve what's Leo what's the deadline to and her on this for Sydney on Monday are out when the F down the line. Yeah we pull it 2 o'clock aren't on Friday so you'll get a call from our Matt Light and couldn't. If you get it's really you guys deep voice call you. And kind of a Somalia and stated he's been garbage man that drop off a dumpster. It's probably Matt Light scooping on yeah. You can if you don't hang up on him that made you want. So he's. He loved to do that he's a practical Joker I love Mac so hopefully you get that caught five pack two on Friday. Outstanding you'll get a plane Saturday morning big the flight Saturday morning I didn't go to go to W those. That you got attention and it now. That you get up and you go to pre party which you know I've been to the party many kind it to park he's unbelievable the celebrity's is band play in this mood it. It's absolutely incredible party in an eagle but to. Okay and they need to batten chairman you know the third period Atlanta you know there is there to be gained in doubt it's a pretty cool back. And as you mentioned the big thing is look even if you don't win you still may nice donation to some really good charities and had to do some really good work. All around the region Steve we gotta run but thanks again for joining us are excited sun again. I really. It Steve do you pull the Pope from the obvious by the way and I'm not making this about the obvious being one of my favorite restaurants when when I proposed to my wife and cheap fortunately said yes we're offers that's where we went afterwards actually was surprised to line on it was a little little shocking but. Again if you want to while participate in this rappel the only place that you have to go. Is www. Wrong raffle dot com again that's wrong in GR ONK. Rappel dot com so tickets start at one dollar each and as Steve mentioned as you go up. There's some pretty impressive stuff that you can get 125 bucks gets you an autographed photo by. Gras 300 gets you football. The all the way up to 15100 dollars a you know autographed Jersey from. Just battle I wonder if it's full sized that would come down to like my ankles pretty much yeah if I were to put one of those on but again it over big rock raffle dot com if you do want to participate there. Again it only costs a couple bucks to enter and you might end up winning tickets to big game when it's all said and done there. We want to just kind of keep things moving into little bit of trivia repression yeah we we got we got giveaways of our own they're not as cool Super Bowl tickets but we are giving away a fifty dollar gas card so if you end up in Atlanta you can get some gas while you're down there. And so while the weight trivia works on the financial exchange. I'm gonna read a question and then you're gonna Texas the right answer text us at 63566. If it's your first time texting and used the word buried before you while I give the answers to get yourself into our little club. Not this is one of my favorite questions that we've had this year and by the way a 104 years ago today. An act of congress merged the revenue cutter service in the US lifesaving service to form the US coast guards who were doing Coast Guard tribute today. What does the Latin motto of the Coast Guard cent per per honest translate to. Ian English what does the Latin motto of the Coast Guard. Simple process translate to an English let's do the eighth correct answer is gonna get the fifty dollar gas card. And again Texas at 63566. And let you know who wins in just a little bit. So Mike with the other Federal Reserve a lot of the focus over the last year too has been on rates are they raising rates that they cutting rates they keeping rates the same. But there's been another operation the Fed's been conducting his well that we're starting to get some signals may be coming to an under at least a slowing in the near. It not so much so that it just haven't been renewing the amount of debt that they knows basically just not adding all that liquidity back into markets. And there's been this huge fear that by doing so you're going to have interest rates and actually moving right up because the whole purpose of the bind at the first place was to keep rates down. It doesn't seem to be happening in a lot of conscious and well you know me you have all these theories about this being the big cause behind market volatility. And it might be but in reality the economic gap that she'd be economic. Implications this haven't come to fruition. So so far at least. I don't believe the economists I agree and here's why. If it hasn't impacted the economy at all or even in a minor way. It was the Fed talking about stopping us. Right. Was what the Fed talk mess stopping it beyond that. You go back about a month or so and actually add bookmark this exact article because at the time I thought it meant something I didn't know what it meant but I thought it meant something. And so I said hawk. This is something that that. To potentially mean something this was from. January 9 it was CNBC article the headline was fed officials. See benchmark rate becoming volatile during balance sheet runoff. So this was 23 weeks gone out. Of the Fed was saying. Hey if if we're continuing his run off rates may start to rise higher than we it is the they they knew that they could not control interest rates if they continued this balance sheet runoff. And so would suggest to me is a few things number one. That the economy may or may not be strong up the stomach. Continuing to reduce the balance sheet and number two. That's in terms of demand for treasuries there might not be enough long term demand there yet they've been able to you know avoid any major problems to this point. But they're effectively saying hey if we don't stop running off this balance sheet. We may not be able to find enough buyers for US debt will what are what should we make of the fact though that tenure treasure rates have fallen the last. 812 weeks to short term thing. You know I I don't and it's acute I don't think you really make anything of that just because it it's it's a short term thing. But so I look at this and I say. They know that they can wind this down. Without causing a further negative impact in the US economy and also without you know. Not without the additional buyers for US treasuries they don't have enough people to buy these bonds should they be doing it anyway. My view would be yes but it's. I don't work for the Fed is not my about on the line. Let's take a break when we come back when you talk about what's potentially going wrong in Europe more uplifting stuff on the financial exchange. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. For those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed 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 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. 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 website legal exchange showed dot com. That's legal exchange showed dot com. And medieval times sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Hi everyone I'm doctor Timothy Gallagher founder of Gallagher chiropractic and medical wellness and I would like to talk to you about. Important educational seminars. About a breakthrough treatment option. For brightness coming up at the throw clubs in Concord do you find yourself unable to do the activities that you once enjoyed your opinion because you've been diagnosed with the arthritis he's unhappy about your doctor's recommendations of drugs or surgery. Well we have a solution for you stem cell therapy I know there are a lot of questions in misconceptions out there about stem cell therapy and I wanna provide you with the current scientific. The merger about this FDA approved completely safe with Canada's injection that can help you with the arthritic pain. Please be my guest at the the road tennis club in Concord to lunch will be included so register at. Free stem cell event dot com forward slash Concord bash Lexington or call nine disseminate to 084015. Join us. On Thursday January 31 from 11:30 AM 1 o'clock PM. It's 6 AM you don't meet your form. Doesn't matter my body knows the drill anyway because we do this every chance we get. Like cute 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. And in January's jump over three feet of snow in Moody's wide open with over 360 acres three mountain peaks trees gained six strain parks and New Hampshire is only super quiet save on the tickets at noon and TN dot com slash tickets are our shores here and I'm joined by estate planning attorney Todd let's cue from the law firm of Cushing and dole and with York. 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 married couples in the past. What can be done to save the assets are widow or 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 say well 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 they might lead but they won't count and then the money. Depending on your rage we can do one of two things we can either buy a Medicaid annuity for you which would stretch out the money over a long period of time allowing you to pay a Medicaid rate which is about six grand a month vs fifteen grand a month private pay so huge leverage there. Or if you if the medicated knew what it doesn't work out you can do something total pooled trust where you take assets and put it in such a special trust that allows you to get eligible for Medicaid. It may sound complicated but Cushing and dole has written a guide especially for those of you who have put off doing your planning and are now faced with a last minute nursing home situation request this brand new guide from Cushing and dole and by dialing. 8668485699. It's called planning for the procrastinate or. 8668485699. If you want to guide right now. Go to their website legal exchange showed dot com that's legal exchange showed dot com or call them toll free at 8668485699. You might not be able to keep up with all the latest business and finance news but we can fix the financial exchange with Barry Armstrong insurance -- all the financial exchange radio network. No we have a trivia winners the question was. I lost the trivia question here. Wouldn't know I have I have at my caddie actually. What does the Latin motto of the Coast Guard simpler products translate to meaningless the answer is always ready. And William from Auburn which are not but for now the Coast Guard William from Auburn had the correct answer which correct answers eighth but that. He is taking home the fifty dollar gas card today and trivia is brought you by the Armstrong advisory group with the market still volatile now's a great time for review of your portfolio. Call 803934001. Incident free no obligation consultation today. Again that's 803934001. If I were coming up with a model for myself with just the occasionally there. They just you know kind of set the stage is that set the standard low is always important said marlin you know occasionally there sometimes actually paying attention. Let's talk a little bit about Europe. We spent a lot of time in the last you know. I don't know how long last couple months talking about China and they are slowing economy. Europe for whatever reason aside from brags that we don't really get to mainland Europe whole Lotta we downturn talking about them. And it's because each individual country is kind of irrelevant on its own in terms of economic outlaw ensure that your appreciate you saying that they're kind of irrelevant on their own now. I am so let's. I think what we're night when we talk about Europe in the European economy it's it's really three countries that matter. It's France Germany most importantly in Italy knows the three ones that really matters far as mainland Europe when it's all said and done. Germany's got real problems there manufacturing numbers were actually down to the worst year over year numbers that we saw since at least 2011. For December's media real prize in. In look there's one thing that Germany does well. They make really good high end manufacturing stuff so when German manufacturers can contracting it tells you the rest the economy's got some props to. Yeah absolutely and I think the biggest concern that we should all really look at with Europe as. If they are really heading into another slowdown which to me it's like okay you never really came out of the previous one back in 2008. But if they are. They can't really do much about it other than increasing government spending that is really the only tool that they have at their hands these days. To bolster the economy because rates are below zero in most of Europe right now. The treasury bond rates in Germany are at least two years below zero right now hey you can't. Cut rates and for fuel they could do more. Quantitative easing which is proven to do. Well no one knows what it's per right do because you know we well I can Tony what it's proven to do. Quantitative easing when the government goes and buys bonds in. Pays people for the puts money into the economy. It is driving up asset prices because that money gets released thing goes by other assets so it buys out assets which is great if you own assets. The problem is if we would this compare to the US. We know that about. 50% of people don't own stocks. We know that about 35% of people don't own homes. So if you pushing up stock in home prices are quantitative easing. Is it any surprise that you have a wave of populism as people get left behind. No it's not like it's 88 field. Lake of a broken record on this but I think you can directly looked at. The actions and in policy after the financial crisis. Is leading us right to this point like the reason why you have people feeling this way is because. Average Joseph got hit really hard back in 2008. Felt that. You know. Politicians and businessman were largely bailed out which they were correct okay. And so you have effectively you socialize all the risk on the downside is a everyone's got to participate equally. But then you don't do the same on the upside and so everyone feels left out so it's Al I'll buy into yeah let's let's make sure we all go through this together. And then you just had you know everything take off market wise and home price wise in a whole bunch of people left now and that's what you're talking about doing again. It's it's not like it's it's beyond the dollars and cents is the stuff the tears the fabric of society and that's why we're here today so. I don't know it's it's like Andrea it's it's not populace is it's nice. And say if folks as we agent long term care is something to make sure you plan for how quickly would your assets be depleted if you had to write checks to the tune of 141000. Dollars every month. According Genworth the average cost of private room in nursing moment is just under 135000. Dollars per year. And that average cost is expected to increase over 181000. By the year 20/20 eight. If you're a loved one are faced with an unexpected nursing homes day and you haven't done your planning yet before you write that check pick up the phone and call the expert to cushion built. At 8668485699. Christian Dolan has been helping families just like yours protect their assets for more than thirty years. And they put together a brand new guy for this month called planning for procrastinators. It'll offer you strategies to get help educate you on the steps you need to take. To protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. Again 8668485699. Or download the guide right now from the website legal exchange showed dot com. You guys ready for a whole bunch of confused people. Of Kent because that's what's coming here there are three new wireless standards that are going to be coming into place over the next year. Why 56. Five G. And Bluetooth five in the odds of people myself included not getting confused about these at some point or next to zero it is next to nothing so let's start. From what that's kind of work from the top down in terms of biggest to smallest that would be five G which is a new cellular technology what's the promise behind this. The promise behind the five G is not. Just it's going to be faster is the idea but it's also going to allow a lot more people to hook into the network at any one given point in time. The difficulties with five G is that uses shorter radio wavelengths so. Rather than being able to use all of the existing cellular towers that we have where you know you might just need 14 win every thirty or forty square miles yeah. 45 G the wave things don't go as far so you need to put transmitters. Everywhere like every few blocks everywhere they have to be installed so it is a completely new infrastructure. It there's a lot of new inching stuff that they intend to be able to use in terms of being able to prioritize how they send signals out and you know get us ready to be hooking everything from our cars to our refrigerators into a Internet enabled side. So the promise of five G-8 Elise the way I interpreted his broad band speed. On your cell phone anywhere. But you have to be within a really close distance of a transmitter right. Let's then go to come to the next level down as far as you know we scaled down. Why 56. Which is. Eight a new protocol for. Wi-Fi. In which instead of trying to improve top speed took his top speed on Wi-Fi is already pretty good in a lot of yeses. It's trying to make traffic more efficient. So that you can. A give an example if you ever go to a big sporting event. You were hooked on to the Wi-Fi there and it's really bad there really slow 101000 people trying to disinfect this is trying to handle that better so it it allows for potentially bigger Wi-Fi networks as opposed to having to connect to cellular. Bases so referred you and me it's really not change our Wi-Fi network at home but it's going to be Hamad the train station and there's 500 other people trying to connect on this Wi-Fi network maybe it'll actually function and it could also be as you build more based Smart home with that as more devices talking to reach out you know it starts to maybe in agreed that a little bit better as opposed to everyone trying to count it every device trying to get in. To the signal so it's it's that type of promise were hey if we're gonna have more Wi-Fi devices at home. Hey this means that you can actually manage them. And then we get to while Bluetooth five and what the heck is Bluetooth five to. It's trying to get all of your different tools to do a better job talking together so you know right now. A you can hook one Bluetooth advice that device up to another one but there's no real easy seamless way to say a camp got. Fifteen different Bluetooth enabled devices in my home let's make sure they all talk. To each other and hubs and this is what Bluetooth is really attempting to do with the next stage of. So that the way I look at it if you want to kind of a visualization on all this I try to relate this to stuff that people actually can understand is they get I don't understand half this now know some pro listeners are like what the hacker chuck and Mike talking about. Five G technology okay is like going from hauling dirt in a wheelbarrow to using a dump truck. I'm OK so you're you're able whole lot more dirt. If you are. Talking about Wi-Fi six it's about you having to dump truck but also Mike and Tucker and everyone else is listening I've won. In us all being able to coordinate ourselves really easily if we're in an aerospace. And then. Bluetooth fives where it. I think Bluetooth five editions the additional capabilities I think it's really just trying to make more powerful. So hey if I don't structures more horsepower like if I've got a device that's three walls away hopefully the new Bluetooth is Kabila to penetrate that dump trucks more horsepower share. Okay bigger dump trucks even bigger ones so hopefully you know you've got a sense of what these are you're gonna hear a lot about these in the next couple years but again. Five G-8 it's a bigger dump truck. Black by six coordinate all those dump trucks and then Bluetooth five more horsepower. Estimates by the way I wouldn't anticipate real five G to be real down to most cities before 20/20. Four would be my guess I mean I think it's gonna be. A long ways before your connected to five G get away York today with forgy. Let's take a break and when we come back Tim Stephens from CNET road shows and enjoy his dog but the 2019. Toyoda wrapped for hyper. And -- in the financial exchange on FaceBook dot com slash the financial exchange this is the financial exchange -- network if you -- and order property manager -- collection can be very challenging especially if you own multiple properties leader bank has a program that can help you it's called -- deposit this is another free program which streamline the opening of Tenet security deposit accounts three totally digital experience with C deposit landlords can open an account on line invite tenants to enter their information and manage all their security deposits C deposit also automates many of the compliance headaches for landlords such as generating account disclosure forms and even saying annual interest payments directly to the tenants it's easy to get started just called -- deposit team at 7816418691. 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Or email BBO leader bank dot com for more information member FDIC equal housing one. Dirty suffered histories and are incorporated and as a PC and advisory services officers to resort to buy incorporated Gary Armstrong were presented at a advisory group to secure America companies are unaffiliated opportunity to secure America do not offer legal or tax advice all basically by some professionally with a loss 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 today we're zero and leader banks all mine rent collection tool he -- 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 throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Security suffered through securities America aimed at members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from you. Thanks Steward Barry's 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Joining us now from CNET road show is Tim Stevens got review of between nineteen Toyota raft four hybrid. Tim this has been the best selling small SUV for three years now I think I actually on one until. Just last you're not hybrid but the that between two point tend to wrap for what they'd let they three scenes of the new 2019100. Ultimately big improvement is in a completely different drive train we've seen before as a four wheel drive basically system based amnesty BP. What would strives to rear wheel of actually not mechanically driven to the rear. That is significant increased if you look on the on the be trapped for bait trap or get between four cities or I would not down. Hybrid 41 city and 37 not out the two really big step forward plus you also get fifteen more horsepower is even quicker than based car. So the hybrid is. More horsepower than they had traditional gas model. Right yet again about fifteen horsepower of the dispute about it I have the second acceleration abandoned hazardous sixty output you've still got all wheel drive so in over conditions should children who also. Really no compromises here. What do you think Toyota has done in this space to just really beat out all their competitors and I don't I don't find the tech inside the Toyota is as. It's far superior to anybody else there what are they doing right. Yes definitely when it comes intertechnology debt to bigger than their lacking the entertainment system in particular feels really dated and it still lacking in good auto but it does violate offer car play but no wonder about still we should trust prematurely driver preference technology that make this a really strong player the only real competitor out there at the Nissan rogue hybrid. That has a lot less power and even worst economy that and between uses really great choice there and really the kind of bringing in some experience they've had from making the Prius grabber you know Chris when the first armor to the market. The best selling harbor the ball diamond dealer Poland that expertise and bring that witnessed these really great asset. What's the price difference on the hybrid vs the two additional model. It only 800 or more the base price is in the 120000 mark so act if you drive 151000 miles a year you actually pay that difference often just one year based on the increased to a conference was a really really good bargain if you wanna go for the full spec model. I you're going to be just under 40000 are for all of those. While I would have expected a bigger price difference between two. Well it Tim appreciate this is always one of the the best selling vehicles out there Hampshire will be again but inching that there Roanoke this hybrid version that the price is pretty formal that's Tim Stephens from CNET road show my thanks against coming on. Are. Tucker have a question for you yeah you you and I both sedan guy's guy. Well now you have Katie here your head at me and you know that's nice and all that and now he took a little pressure off me for you know a day day welcome thank you. Would you ever consider kind of moving to one of these pot of these types of vehicles like around for a CRV. Now that you're seeing all the stuff you got to carry around. I'm not at that point yet because it's still very early but I've always been interested in the the mid size SUV just more convenience standpoint and like being a little bit higher. That is sedan buddy it is nice that my wife has you know cheap really cheap. Compass whites only to be higher. Because it's easier to see the road why I don't know what's it could damage the. I don't really think the driving thing it does much for me I I I like getting in made it's EC BC I actually think that's a factor from the lake. I just enjoyed being a little bit higher up a product tax plan is preferred. Well yeah like as you know I'm Anderson and stole. You know drive and a Camry so I'll I'll suck it up in the meantime has its go to my wall you know. Yeah absolutely let's this was an interesting story that I saw in the Wall Street Journal. It in terms of Google and Amazon. You know obviously getting into the home automation business but. They have an interest to take on it it it did the first sentence I think sizzle alphabet inks Google and Amazon.com. Are taking steps early steps to expand into the electricity biz. Yeah I. Know where they're going with this I mean I guess it doesn't make a lot of sense I mean you've got veered devices at this point are probably and half of American homes may now may mean maybe we don't have any that we don't really know how many they've sold we don't ever. You know they've sold a whole lot of I don't know what percentage of American homes have. I did the Google home or the Amazon allow access are different ones devices now blinking on and ask me what they want. But hey Google order pizza. He said to enter. Do it every time but you know I guess that next step would be. Battery devices in the home near Tesla has started getting into this and you know finding ways to restore. Power and store energy in the home. And I don't see him ever getting into delivery. I guess so the question is you know they're trying to gather data about energy usage habits yeah. And it's OK so you sit there and say OK what what could we potentially do with this number one obviously. When he talked about a company like Google or Amazon they they could sell that to someone else is actually in this business you know that that's what they might do historically. Obviously you know it's okay you'll get you know do Viet do any these companies wanna get into. Actually producing electricity no I don't think Amazon or Google is going to be buying power plants anytime soon. Then I'll have you have seen a number of these companies I think Google in particular has built to hold on to win forms but it's largely. It powered their own operation centers and stuff yeah so. I look at this ends. I guess I can't quite figure out if if they're there's they're drawing a link here that doesn't really exist right now. I think. For me if if I look at what Google tends to do. Hey let's gather as much data as we can't figure out what to do with the lakers they might not even have a coherent plan for it right now. Just because. I don't like I just I can't see the value in having this if you're not can actually be producing the energy so. It it it just doesn't quite click for me. Yeah I could see them providing the analytics like you said a candidate by the analytics to the homeowner or to the utility company of this is where the powers going in what's really you hardly heard a nose that like how we get is so like the chilly you know like when you get your bill every month. The utility is getting the other side of that saying hey here's what you know Alex power usage was like they don't need more information on which their customers is spending Monica's. That's their whole business is knowing that so. I get you know as a reason why we have like electric meters and stuff like that so I just I don't quite see you. Where this is going we've been wrong about Google and Amazon's growth in the past that and that's what I always remind myself of is that these are very Smart people who typically do very Smart. Things Dow is off about 389 points right now is return towards mid day that's all the time for today and we'll be back at it tomorrow.