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Full Show 2-14-19

Feb 14, 2019|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with Barry 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. At 5 in the morning things were going to be great as looked into the futures and they are a heck era over a hundred points system itself. This is going to be a great day of trading and then Don Don. And if it sounds like I'm a little bit bombed out and retail sales numbers just caught me completely by surprise. Yeah I mean it it's the kind of number that will bum me out a little that we we're expecting to see. Retail sales growth for the month of December anywhere between about point one and point 3% growth for the month right instead we actually saw one point 2% contraction for the month. Import autos out of the equation one point 8% contraction so. Not good numbers the revisions for the previous month were also a little bit weaker than expected down point 1% on both of those numbers. And so it's this question I think a lot of people are now asking a lot of people last week news. You've why do you miss by that much on retail sales and I've got a theory on dined here you're you're up one I do. I do well as I don't ours yet you look for okay I'll go deeper story you know. Used before beauty. If it. Oh good to me. So here's my theory on is that the US economy is way more leverage to the stock market than people realize. And it's so much of our consumer spending. Is big east. On. Effectively asset valuations rather than income wealth effect exactly and so because of that. I think that with the negative movement that we had across markets in October November and December now I think that had a real impact on overall retail sales didn't really get bad until a couple weeks written like the week before Christmas evening news could have had accused Christmas he literally. Well that's when we bottom but we are still down 10% heading into December and we feel additional 10%. Over the course is that three weeks heading into Christmas Eve so. From my perspective I think that might have been enough to it to throw a little bit of a wrench in things what what's your thought on why this might be wrong. Talk to me. Well my theory is that you know he had the government shut down to the weak data is RD two weeks late two and a half weekly. Yes somewhere in almost three actually in word yet fresh data. On retail sales in two weeks yep it. You be able to chide me wrong. Because if I I think what you did and Pepsi in two weeks is like announcing yeah. That number we gave you for December was off by half percent and January game it was pretty good in. You know that that word is I I you know it because. It's just it doesn't make sense wages are growing like crazy as looking. Korean said it is. The most important factor to look at this date it was and what the Fed will certainly emphasize is that personal income using the payroll proxy. Was five point 7% year over year in January yep. I mean that's a normal stock was last time he saw payroll Gaines five points I think that retail sales are made up for more of of money that comes from the stock market big ticket Agassi and I got scars. TV's you know things like you know it's. And the eating people by and I about triggers that. It took a year after a for excellent. Chuck thinks that somebody who has a million dollar portfolio is more likely to glove by a 15100 dollar TV as the million dollar portfolio went to a 1000001. Yes. Your parent. Depends on their need for TV. Right I guess is eight and big ideas why do you dispute that. I just. It like a TV if you've got a million bucks in a TV. Is this small ticket item as a book that depends. Along you're trying to live on that million boxes out you know in in where you're living in what you're spending is if if you're in you know a case where Katie aging society mean as you get old the buy less stuff. There doesn't show up and one month. You know it's not something where it's just you know you don't flick a switch and all of a sudden that happens I wrote an essay about what was the big difference between November and December where stocks were dale. Nearly there and that's it it it's stands out to me. So it could be you know that the data is wrong there's there's always a chance that this could be a one off. But when you see a number that's that drastically. If button. You know it's it's could just caddie this thing to say. Okay the they could maybe make a mistake by half a percent but he got like even let's say they revise it by half percent got a so that instead of missing by one point three you missed by point seven means the likelihood we'll see mostly. They. I'm just a little bit I I've let me put it this way I'm not gonna I'm not gonna make a trade. On my portfolio or nor would I recommend you make a tree books on your portfolio based on one month's retail sales. No I would agree with that I think in the context of everything else that's going on it's another negative data point though. You could also say note jock wages are five point 7%. Spending is down right as consumers retail sales are down that means that consumers getting stronger. Oh I disagree. I I disagree completely based on the rumors auto loan number. Not just the autism was taken a look at some of the other numbers that are out there as well as far as anything that's anything borrowings related group. So delinquencies for home equity alt a loans for example. Have risen from about 2.2 5% a year ago to two and a half percent CC and increase there and auto loans we talked about the other that's really. Let's talk credit card delinquencies and credit card delinquencies in the last three years have gone for two and a half percent to three in a war CC an uptick in credit card delinquencies and now we're still below football mortgages I ever home three possessions and foreclosures wait those are down some would suggest that people are skimping people are putting it hurts respectively not making payments on things other than housing right now to stay in their homes but they ate it suggests that people have a problem in we just. You know overall delinquencies. Again if given a probably the one thing to be concerned about news. If you have a problem today with no unemployment rate the deer is easier now when I look at it when you have to 0% unemployment rate which. When any time here under four and a half percent that effectively answer that means if if the unemployment rate is less than four and a half percent you just. Don't wanna get a job and in I think here here's one thing that I when you look at the data in the aggregate. If you go back about three years the delinquency rate on any type of consumer loan was about one point 4%. So mortgages auto loans student loan you name it one point 4%. Today it's up to one point 8% overall and that should be concerning because the economy strong what happens if the wheels come off right in this is the same type of stuff. That we've seen leading into the previous three recessions now here's the thing it's not something that boats towards imminent recession I'll give you an example. In the late 1980s before you went into the recession that we saw in 91 else was you remember that it was a relatively mild recession but it still will not appear in New England it was a bad appear was but nationally it was relatively mild overall. Fargo bank in New England. From the time that interest from the times are the delinquency rates started rising until the recession hit then was four years. In the runup to the tech bubble knew there was a five year run up there in delinquency rates. In the right to the financial crisis there was only one year not because of how over levered people work you know that's all it took to kind of get things into a bad position so. Well when I take a look at this it's not to suggest necessarily this is imminent Putin thing. That delinquency rate that I mentioned has been rising for three years now now so we're starting to get into that danger zone and that's what scares me is that. Again as you mentioned everything is is kinda humming along at all. On me it's if you're if you're carpenter electrician. An accountant. Lawyer doctor I mean you can find work and a better wage today than you've ever been able to yes and so. What worries me is if you're seeing delinquencies yet taken up when things are good then it makes me nervous when things turned back to eventually they will. No it's not an ill give sunshine puppy dog forever. No I was told that you know there's always mirroring society at the whales you have a good mother. I did and still do. You know. She does mother used to she used now jobless claims that generally report there to 39 vs 225. Producer Price Index I was a little surprised by a decline in the corn number was up. Korda was up point three. China's January trade data comes in much stronger than expected. This to me means in this seems to be fairly accurate data Lotta times I look at Chinese trade gave it its issued by the government I don't buy it. This data. Makes me think that China is somehow finding new customers. For their goods that we stop buying. I think that it I think that's. But we've true to a certain extent I still have questions about you know the these days this data here. Just because. Again anytime we getting data from the Chinese Government you don't quite know now what they're telling you. So I tend to look at a lot of surrounding economy's outlook it you know what Japan's telling you what South Korea's Tony would Australia's telling you so be cures you out there are numbers match up. With what China says but this does suggest if China's port a ton of money into their economy is far stimulus to try to keep things afloat in the last six months. This would suggest hey that does. He's road working at this point. The president is reportedly considering a sixty day extension for China tariffs deadline. I didn't like the first expansion of ninety days I like this when even months yeah and in this it just I was thinking about this overnight actually sign of weakness doesn't this have the feeling play China's just trying to run the clock out there it's exactly the point and I was talking to a friend this morning. And he he lives on the cape and that's at. We we are getting played I've seen I know their playbook they're gonna go for another sixty days and then at the end of sixty days ago say okay we need just thirty days more. We we you know in and that takes you to what Jews right. Yeah and in morning the president had a Anthony Dixon demand. But I just look at this and I know Larry Kudlow blow all our old friend announced about twenty minutes ago and that negotiators can be meeting with president G tomorrow's that is yet. You know this is where you there's another stalling tactic but here's the thing this is where you're. When that meeting concludes. They're going to know whether or not they can get a deal. Now I'm not saying that it will get done tomorrow and I'm saying they will know at the conclusion of that meeting. Whether or not the framework exists that they can get dealer on. I've got a big day I've I'm not optimistic tonight. Big day here's the other thing I wanna go back to that retail sales number and the other thing I was thinking. We talked about the the mess that a lot of people and ended up in because of the change in the tax report and this year globally. How much does that affect retail sales going forward for a couple months of people don't get this 200000 dollar refund. Good point you get a really good pop usually the you know the economy mark April me. Yeah as those refunds or come you know if that does happen I wonder what that does to some of the future they could have an impact. You know I came across a statistic and don't share with you. 48%. Of working Americans. Surveyed last year. Anticipate working past the age 65 and is up from 16%. Of workers who felt that way thirty years earlier. Our question today. Es do you anticipate. Working past 865. I voted already said yes I do now I will be working. Sixty hours a week I will be working seventy hours that we all decorated up on the new dues Ali I will convince you that you said that your dream job before they it it would be good job be it at that. But at. The more I talked to my years I hikers hanging out with a friend of mine who's a doctor she retired from medicine. And she ended up going back and she's worked six days a month now and urgent care yeah. And pastor said way to go back today as it did you miss and now it's. So she went back following Tuesday that she need to monitor kids did you know if she had enough money to retire comfortably interesting but her kids wanted to go back to grad school I don't tax circumstances that. At any rate so she's working six days a month that an urgent care facility and so. I think yours seal want people to your point. That thing I've gotten on me to retire in the miscalculate. Or something happens in the game situation. It causes them to go back but nationally 48%. Saying the are going to continue to work past age 65. And I think when people do that I think most of them are doing it for financial reasons at least by friends are both. My parents out. Among my mom's finally retiring this year shall be 71 my dad. Still don't he's 72 now and is he gonna retire or I think he's got a couple years left eight if both of them even as they were kind of getting to this point scaled back so again not necessarily a general himself as much as they used to. But still working into their seventies most of them. It would it would it does is it deep it detracts from how much yet to take from your portfolio it does and that does that's how a lot of people that's how I look at. Our web site is financial exchange showed dot com that three go to participate in the poll do you plan on working past the age 65. It and if you met at if you wouldn't mind text us and tell us why. You might work past age sixty maybe your broke war may be your supporting children or grandchildren or maybe just like what you do. 63463566. I don't fix all I died I wouldn't put that asked people this is bored in retirement they're like you know while Gobi golf starter. Principle that Africa. That that's that's another wanna put that on my list of jobs. Star vault nobody can drive around in cart and now we have and tell preview organized at times and are like you do you mean would you mind her and up a little bit in Barcelona played replace your divot. Anyway 63566. Is our text number would love to hear from you when we come back we're going to be talking about. MGM and how many people work at at Springfield casino the number might surprise. Mean this there's the charts graphs and numbers all day just listen to us it's the financial exchange with Barry Armstrong and chuck sun up on the financial exchange radio network. Our -- with the loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of a spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages and tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now at Armstrong advisory dot com. He suffered securities America incorporated members and as a PC and advisory services offered to securities America advisors incorporated Barry Armstrong represented at Armstrong 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 loss in your state. 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This guy can even show you how it's possible to eliminate your state Texas while protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. Or download it right now from their website legal exchange showed dot com. Hi everybody it's very Armstrong from the financial exchange and I'm joined by Jake to Lee who's the executive vice president of leader bank. We're talking about SBA loans you know we hear a lot about SBA loans small business loans Jack. But I don't think people really understand. How they can be used and why they're so valuable to the small business community. Thanks very yet we had been really focused on providing small business lending to local community and local business owners. And the programs are available power very helpful so we are preferred SB under the what that means is that. We can quickly make decisions and under rates small business loans in house. Andy can be used for right purposes for small business owners give us an example. Well one example that recently happened was there was a restaurant in Cambridge when I was growing very rapidly they are always full occupancy. And the space next Jordan became available. So they wanted to. Take on that space needs capital to sort build out. The restaurant. And you know was about a 300000 dollar loan. About it how many years did they have to pay it back typically these types of loans vary anywhere between five to ten years lots of time. So you know we were able to quickly make that. Underwriting decision provide in the capital expanded at rexrodt has grown tremendously them as is one of one of many examples when they're landscaper or. Factional services unit loan officers that are available to blog talked a small businesses we have dedicated small business lenders. Folks if you wanna learn more about small business loans cult leader bank and one of the best in the business 8776917. B 900 is their phone number. Or visit them online it leader bank dot com 8776917. B 900 Unita small business banking partner leader bank is the one to think about 8776917900. Securities offered to securities America ain't 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 have part of the financial exchange in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. According to a survey 48% of working Americans surveyed last year anticipate working past age 65. Thus far talkers 63%. Of our listeners say that they are going to work past the age 65. Now settled tax them and and on that too. I want. Barrett turned seventy next week I'm working three jobs. My answer is yes and I need to work never made enough money deceit significantly. And I got invested is started investing too late night. That's too bad out of out of 50 wait Mary thirty sixers though probably will work till the dead drop dead. I don't Social Security will be around and had zero retirement plans at age 36. CA. Things change like when you're 36. It's hard to envision yourself much beyond age fifty rightly that if you if yes if you look at psychological study Easter. B it's hard to envision yourself past 50% hand where he earned yet so if you're twenty you can't envision yourself at 35. If you're 42 envision yourself at sixty. Mean if I envision myself you. Know I can EU they'd be able to not accurate no. Ready to exchange showed a cup. I had no idea of treating the MGM. Quarterly report which wasn't great. But it 2800 workers desperate. Pretty impressive. You know Leo hold onto workers out that way. Sounds boo for spring. Yeah overall MGM they say they are regional operations had a pretty good quarter actually. But. With with MGM Springfield there has been some question. As to whether or not it's going to meet the expectations for the revenue that they thought it was going to brilliant plan. I look at the NC EP they don't take an. Cities that don't they when the state regulators. Why because they want sale or bring all this money into the state oh you meet at that even on the revenue their reporting known and an uneasy. I began I think all the casinos. They say of over promise and under deliver. That was the light of the there's no doubt about I think my big question that was once you get Everett opening up Ian. For months now and how much worse it can get spring like I don't get the sense that the Springfield crowd is an ever in other words. I am how many of your friends have said on wanna Springfield to go to the scenes zero ton but my it undermines my friends are worried now they'll get. BBs and can't I don't know any. Time during a baby to a casino tour. And I go this week that it happen. On. I am not sure it's crowd I think your crowd for that Springfield casinos probably coming from parts of New York Hartford. Can a lot of connect even some Vermont people April Yahoo! Vermont New Hampshire come and now and then that western mask. But I doubt very much. I think we're Springfield is hurting. Is they're probably killing foxwoods and he's. The fox which revenues have been down I think it's been down about 10% or so typically and a month over month basis and it's been it's been hurting but it hasn't been you know a death knell for them to this point. I do think foxwoods is going to be more impacted when an effort opens up and a lot of people that make that trip down. To foxwoods you know here is that seat that I would agree with you there Victor is a when I walked through the foxwoods and Mohegan parking lot. I'd say me. Thirty to 40% of the license plates are from Massachusetts maybe 30% no easy from now he's an outbreak that's what. Lou we'll see that coming up we've got Wall Street watch the markets down the Dow down a 119 points were also be taking a look at GE powers to. GE's power division. That's next on the financial team. Life goes on FaceBook and followers on Twitter. Joke breaking business news is always first right here on the financial exchange radio network. That speaks theory 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's had a pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. 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Or visit them online -- -- deposit dot -- member FDIC -- -- a step ahead -- to. Loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of a spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages and tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 803934001. And get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. He suffered securities America incorporated members can SN BC and advisory services offered through securities America advisors incorporated Gary Armstrong represented 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 advice of a professional familiar with the loss 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 cult leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for a mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC equal housing lender. MLS number 449250. Subjected credit approval leader bank a step ahead. In medieval times sharp says was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. No one wants to deal with the death of a spouse but if it happens and you're not prepared your finances to be severely affected Colby Armstrong advisory group and get their new free guide on how to prepare for the loss of a spouse can help you understand the various pitfalls that may come call 803934001. That's 803934001. Or download it right now and Armstrong advisory dot com securities are protestors America incorporated members generous IPC and advisory services are for the securities America advisors incorporated Barry Armstrong represented a strong advisory group in the securities America companies are unaffiliated. Time now for street watch a look at the market's performance so far today to marry him jog right here on the financial exchange radio network. And it is time now for Wall Street watched what do you buy leader bank if you're in need of a purchase or refinance loan. Quarterback has some of the most competitive rates in new wing of the dedicated loan officer will work with the every. And the local decision making means faster closing. Call right now for more information 8776917900. Or visit them online at we the bank dot com member FDIC. Mike Armstrong joins us now for Wall Street watching Mike good to hear read and let's start first with AIG what's going on with them today. Yes stock is down right now about 9% Dave wolf boarded a pretty Indians lost to resent the shares lost. Ers watcher of trees and this year so a very significant. Spared. Difference between what are expected that there's part of this would insurance losses they had their expert help when wildfires are. Help. It bigger impact in the trading revenue. Not being really make much money in the all bowl stock market that we saw last year. Stuck a little bit about Coca Mike there are off 7% today which is a big move for company that normally. It's kind of a bastion of stability will what's moving them. Yeah age should be also reported earnings the earnings rubilian line there's nothing all that great duke beat expectations. So but you know previous quarter were fine but. 2019 revenue expectations. They are looking at. Not great well so organic revenue. Excluding currency swings they expect there about 4% between kind you know there's a 5% of last year so. Yet they are looking at their global revenue growth slowing down which gave the content the market when he's especially with it. Oh. All right very good thank you Mike. Mike Armstrong with Wall Street watch brought to you by leader bank you can call an 8776917900. Or as the monoline we'd bank dot com member FDIC. So the good news about GE. Is that their power division has a backlog. Of 92 billion dollars were the sales meaning that they the they they've got sales orders of 92 billion dollars we should all be so lucky I live yeah sounds locally sounds like Boeing. Yes sounds great X apps. They might have discounted some of these sales too much when they were trying to make them and so the margins on the kind of garbage well work or nonexistent and so. What they're finding is an in this is one of those things that you know you you kindest near smacked your head after you read this you say. OK so what's the reason for this. There incentive structure for their salespeople because looked apparently. And I'd and knows but I guess it makes sense when you think about it and even when you're selling power plants you have sales picture and you have the sales guy to sell me a turbine and stuff like that. They're salespeople were compensated based on gross bookings not based on margins and so. The whole thing was well look I can sell us for whatever I want my comp is gonna go up even if it hurts the company and he's at their new like. They think they might lose money. They do they do they've got a great in 92 billion dollars how much is gonna cost Andy you know. If you eat it may if if they if you've 92 billion dollar reporters. Gonna cost you a 110 billion to make it. Well you you can make that up in volume. And this is you know a couple years back they have bought all stumps power business and you remember that last year and what is actually proved that to you down by 22 billion dollars. Pretty much because of these types of issues here so new G Eaton company why did get 391. Billion dollars. Ian orders that are BO across all their different units sees it they say OK what did jet engines you know those are profitable businesses more than you think but this power business where you get this 92 billion dollars and orders. It would keep you get negative margins on all that that's something that you like you just you can't get rid of it just it it's gonna be a drag on your company. For years Jim and 92 billion dollar backlog means you're probably going out three to five years on these projects to be losing money for a three to five year gap so. It's it's not good. Folks losing a family member. It can be a really traumatic experience especially if you're not prepared. Preparing for the loss of your spouse it's all for the deal with. But if you don't do wit your finances could be severely affected we've got a brand new guide out this month. To help you avoid unnecessary risks in associated pitfalls. They can arise when your spouse passes. We recommend several strategies for you to employ that educate you on how to best deal with this unfortunate circumstance. Call right now at 800. 393. 4001. That's 80393. 4001. And get your free guide today make sure your affairs or in order call 80393. 4001. Fear free guide or download it right now that are strong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It is ever used trip advisor is sure is we have all the time in what capacity. I used if I'm going somewhere and used so much for trying to book you know hotels here being bees zone find it as useful for that. But if I'm going to a city have never been in before I used to look for neo attractions that sounded testing museum's two hours things like that I did that last fall I use it for restaurants a lot of restaurant reviews are on this or used to help find a place that I might want to go. Those the two biggest things I think for things to do win and in places to eat what I used to they make money and you do you ever book restaurants through them and note ten days I never do I don't know how trip advisor makes money to be missed. It let's advertising. I don't I imagine that some things that I don't know if they get you know and a few leader rferl fee for booking on their side or anything like that the problem I think that's what it is yeah yeah deterrent at these hotels to calm. Pretty much. At their services on trip advisor. And and get that you know referral paper much and also one like beer they they have their own beer BO type program student via the EC you can book here. Your house or rent and yet the evicting some non hotel revenue hotels have always made it all of these these companies' revenues. You know something like Expedia similar type thing right. But similar model they came in after XP Expedia was around in portrait so not hotel revenue is now up to 20% of overall revenue for trip advisor which it's a good thing because shows you diversifying away from being so hotel dependent. In a world where things like your B&B are taking more and more market share do you find that it's helpful Lee do you find the reviews helpful and traveled very tours you do Iberia audits parlor and a more reason why it would go on a trip advisor. Is. Pretty much a director of the people's experiences. At restaurants hotels. City life except for a than what I actually find most useful for restaurants believe not a Tucker I don't know if this kind of messed with view. More than the reviews is that you get someone to post a bad review just is that you know one bad meal urged me grumpy mood out day. What I find really useful for food is just being able to look at pictures of actual yes there yeah and saying oh okay I see like I don't get that it gives your sense of OK this is the style food displaced actually made just netspective. I find that to be really useful the thing I found about trip advisors Hugo on there and you look at a review of arrest for it to your point. And you'll be 300 reviews. What Yelp that might be three. The Yankees it's it seems to be a much larger platform in I would think that the reviews on trip advisor or more relevant. And more accurate in the reviews and he'll. And I don't know if there are stock was down you'll be at a huge problem in I think trip advisor did to a one point with fake reviews where yes you would go on neither company paid people to publish positive when our competitor would pay people to publish negative ones. I don't know if they've necessarily fix all that but. There's like there's been stories of you know pizza places across the street that are war with each other for Yelp reviews and things like that. I test as a model three drives off the demand nobody wants to buying the Tesla model 31. The big thing it's still is not priced at 35000 when you promise a 35000 dollar vehicle for people and then they're selling north of 43000. Now to be different to make up and so I think that's a big part of it the other thing Tesla cut a huge portion of its delivery team. In the at the end of the last quarter Norton tried to you get themselves in better financial shape than that that means acute too for Guzman vehicles. And the back while it took you organ actually. Now we're out there that. This was. I can say this for a year is a wonder is what promises us today in is that they know I'd like to price point so I think it's price number one or are they down 4243. It's too much cheapest one. You know and they're not making a whole lot of those. I know what to Tesla but you know if you want a piece to. A lower price sedan crowd and 42 thousands about the current price point it's like 46000. The somewhere and it's 46 to thirty and I thought I guess you see a fight if I was I'd I'm not going to but it might. If it might bolt had an accident and lose total. I would I would go by Tesla model three here's the the NC go back to you run the numbers on the Tesla model's three because it rather have that and Nissan leaf commercial artist ever to your ball them so I guess I'd say if it's paid for guess or male model threes they sold and twenty team. And down 920000. There's still another 6000 in the first month of this year's they're about almost a 150000. To third of the way through their backlog they've probably gone through most of the height give the high bright dollar's value orders. So the question is pave the other 300000 Ron there didn't even say look I'm tired of waiting and just getting another car neo you know did some people say look good BMI situations different I just need something else over and so. I've always wondered that the other set oh we want to make 500000 vehicles a year. I don't know if there's the demand for 500000 of these when it's all said and done. Well I think if the I think one of the problems it might have the news. Sedans to start big seller and you know they're not and and you know people want these. Eat even if it doesn't even have to be. Like a wrap for Honda CRV that they want a little bit more than what seat sedan gets and that's why I have I've wondered since the beginning should they have just stuck to being a high end luxury maker. I know that's not you one must stream where they are losing money in those two they they were but late in the model three could be what puts them under. You know if they can't sell these things like that they're cooked well which the trade 300 bucks a share will. You know everyone's trading at noon a nice price until they're not and like that's they'll lose in a bloody fourteen on the I don't wanna say they're going out of business tomorrow but. Think this is the kind of mystique where if you're only able to sell 6000 of these a month going forward. That doesn't work. Doesn't work. Adam Johnson have some stock force we get we all kinds of stuff we're talking about without him which is gonna provide a nice little boost positively to counter might pessimism right now very good Dow's down 121 point Adam Johnson from bullseye brief dot com joins us next on the financial exchange. Stone's distance does talk to him. Oh your portfolio includes the financial exchange with Barry Armstrong and chuck signed off on the financial exchange radio network. If you're even started in the state plan yet now is the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan many problems can arise take the time to avoid that kind of issue by calling talk about -- a partner with the law firm of Cushing in Dolan Thomas an expert in taxation and elder law and he can help you identify the right kind of planned for your family there are numerous kinds of trust that are available but two of the most common are rev a global and irrevocable trusts their major differences between material so before you put pen to paper gets some solid advice from someone who knows and can advise you on the best way to put together your plan Cushing and Dolan is a free guide out this month on the differences between -- a blender amicable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state Texas while protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. Or downloaded right now from their website legal exchange showed dot com. Do with the loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of the spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages in tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. Dirty suffered securities America incorporated members and SIPC and advisory services offer to securities America advisors incorporated Gary 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 loss in your state. That's the Xperia a great family friendly mountain with something for everyone including day and night skiing snowboarding snow tubing aired a special pop. Pay one price program on Saturday night's had a pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboarding do you think rentals lesson tips and entertainment that's because one of the largest nights in areas and all of northern new England and one of 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. The latest info go to pats peak dot com that's pats peak. Got jobs pats peak ski area and had occurred there. Hampshire pats peak seven interest premier ski and snowboard mound is a 100% opened with day and night skiing and right. Make plans to spend your upcoming Faber school vacation on the slopes at Pat's cheek with skiing snowboarding and snow tubing for always information on conditions photos videos and events go to pats beat dot com. Hi this is very Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on homework meter bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. Thing get your great rate on home mortgage -- now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 8776917900. Is the number to call or visit them online at leader bank dot com. Member FDIC equal housing lender MLS number 449250. Are subject to credit approval leader bank a step ahead. It's our daily poll question had financial exchange showed Doug John. Vote your conscience and arid just vote go to financial exchange oh god come and test away. Joining us now on the line is Adam Johnson from bulls ivory dot com news talk about what is moving markets they can head over to bulls ivory dot com. Sign up for Adams newsletter to get all his picks that he post on a weekly basis at my dialed up a little bit of bad news today just to give you a little bit of a test. I appreciate that which you would come you know on my belt and await my height. Well we we still found is so let's let's talk a little bit about just kind of how you feel about things in general right now you know we did get some negative retail sales numbers today for December means delayed now a lot of this has beaten to Q4 earnings that we've already gotten. But in Paris just to hear your thoughts and that's kind of where this economy stands at. Well you know think about how negative everybody was. You know we went into the creek and how they market the crush on like that I mean I remember December it ain't going on the L earnings call. Page three. Of their earnings presentation what. Your outlook plans for a fashion you like c'mon guys. So admittedly I've not surprise the retail sales were worked out a convicted B nine your low but it just it is dale street. How far the pendulum negativity one. In December and I think now with market you know rebounding has much happened after a week's edition of the you know pendulum would want to play him when he. I don't know him but I'm curious just to get your thought on this you know we we have seen that pendulum swing in markets obviously have rallied. But we teams continued to see some data deterioration in particular broad you know Europe just seems to be falling flat on its face right now China there's still uncertainty there. At what does that start to matter does it not because of what the Fed is done in the last six weeks. I think that had to do what they did an admittedly I'm not a picture the most fiscally responsible position you know operating rate that it blow this mystery about cheap they really active. But you're right you're at it that I won't touch and are. Now. China is is hurting you know you look at the import export data it was much better more recently. You know that care that really messed up. Blows and it and made it a lot harder for a bit. Sort of you know file a little bit true trend but I do think they were gonna get an agreement between the US is gonna be really helpful. I look for that over the next several weeks that what you want Alibaba wait though. And you know we will work through their. I don't think it bit earning an appointment in the country are really the glory even though we're gonna have the Latin thing you want what you can't get dirt reflect back. That that negative pendulum in the attitude that that we were dealing with in the all you know that nobody you want but I think what we get through that actually. We're going to be OK I really do. Good Adam what do we know you're busy go catch up to you next week all right. Adam Johnson from bull's eye briefed dot com and again you can head over there and sign up for his newsletter if you war. In person. For me thinks we get a deal with China. I'm not sure disagreement they used to be a bad deal. It still takes the tail risk off the table from mark. Here's the thing you have to look at it differently depending on. What year what your position is if you're looking at eight China deal purely as an investor. And I'm not saying that you shipment saying if you would not as an indicted and most of our audience probably does take about getting a deal done yeah. Trumps everything else is just want to risk off the table cup if you're looking at this from the perspective of long term aid being a you know a business person who is you know trying to run a business in the US. Pay I don't edit getting a deal done that isn't a. Good deal isn't something that you see I'm I'm looking at it from the standpoint chuck of you don't where does this put us. 102030. Years out when my granddaughters are adults. TAT and I'm. The he yet you need to do this the right way if you're gonna go to war you have to win the war. I agree. I just I I and I don't think we're winning. Eight I don't think there's a wave that the US is going to get China to budge and as citizens and Ali you're not gonna do it alone in this that it in Ali hate to go all the way back but. This is why you do the TP PG. Right you either you do it TPP a deal so you have friends when you go into war right right now we're trying to fight the Chinese by themselves. And they are buying stuff from other countries so they've replaced us as a vendor right they're going to binder soybeans from Brazil and a killer farmers. And now they're finding other people to buy their stuff. The eighties so. The the Chinese. Have been used to buying time and here we are in the United States one country fighting them on arrow you don't have any friends you need friends. And and looked at since since the beginning that. China I don't think is going to budge on the things they don't really going to be there and it's not because they're not feeling pain they are now put China saying look us getting to where we want to get too is more important and feeling good in the short term. And for better or for worse. Over the last twenty years China's been better than that better at that in the US. Sends our poll question today was are you planning to work past the age 6565. Point 3% talker are saying they are. Where is the national poll that was done by BT and research. Last year set only 48%. Was going to we're we're going to work past the age 65. 603 writes in this is really important. I'm 38 years old I see guys in my treated early sixties with no retirements evenings and it scares me try to save as much as I can. And plaintiffs have myself setup. Work part time. Once again to eats sixty you know it. The one I will acknowledge it as you'll want to treat people. That kind of live and about humility make big money today I know carpenters and electricians comic wanna money. But they're not Smart with their money so did it ease ease with a whole bunch of people not just treats people he has now it has to be more is the you know line. There's often times self employed you don't have access to four when that is true and so. You know they're driving around and shiny new truck but the many many in the retirements through him at that just up I'm just sharing a personal observation with. Markets are open they're down Dow's down a 121 points the S&P is down twelve. We'll be back with more. On the funny to change just human. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. That speaks theory a great family friendly mountain when something for everyone including. Pay one price program on Saturday night's had a pats peak on Saturday nights for one low priced from 3 PM to ten via reverse ski. Snowboarding do you think rentals lessons at an entertainment that's because one of the largest night skiing areas and all of northern New England fans want 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 jobs pats peak ski area and had occurred there. Hampshire pats peak seven interest premier ski and snowboard mound is a 100% opened with day and night skiing and right. Make plans to spend your upcoming Faber school vacation on the slopes at Pat's cheek with skiing snowboarding and snow tubing for always information on conditions photos videos and events go to pats beat dot com. Hi this is very Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage meter bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase slender among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who are ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. Thing get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC equal housing lender MLS number four corner on two fronts here are subject to credit approval leader bank a step ahead. The money matters radio network WB MW lemon polonium and W 275 CM FM good Boston the money matters radio network. This is chuck and Mike from the financial exchange in Riyadh today to talk about the new guide that we're giving away this month it's titled how to prepare for a spouse is passing Mike and fortunately this is a topic ever when needs to prepare for but. What people don't take the steps because it's a little bit intimidating so let's start from the beginning. If anything happens to both to be at the same time this would avoid probate process for children or anyone else that's listed on the account by the way folks not just your investment account not just your 401K go to the bank you can have pay on death beneficiaries on really basic accounts elsewhere too like what if I have a will or trust in addition to beneficiaries named on an account how does that work well the beneficiaries on the counter actually going to supersede. The wheels in the trust so. Let's say you change your will and say you know but. Something happened and I need to cut my son or my nephew out of mind will I don't want them to inherit anything you must go up to date those beneficiaries on those accounts as well it will not just automatically change because you up teacher real warrior trust the beneficiary designation takes precedence. Folks we have a new guide out this month it's titled how to prepare for a spouse's death in all you have to do to get it is call 80393. 4001. Again that number is 80393. 4001. Or you can also get it Armstrong advisory dot com. Securities offered to securities America incorporated member of finreg SIPC in the advisory services offered through securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in 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. 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 this is chuck Zahn and I've been doing business with leader bank for many years if you're in the market for mortgage leader bank has some of the best rates around and if you call right now they'll make your process even easier by sending you a free copy of their residential mortgage survival guide in it you'll find critical information for pre approval closing it'll also help you with the required documentation the purchase and sale agreement as well as what to expect when dealing with agents I've owned a few homes and a whole lot about the home buying process but this guy and really helped me reconnect on issues that are so important to the overall process cult leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC equal housing lender MLS number four corner and two front zero are subject to credit approval leader bank a step ahead. Hi this is Rachel from Shawnee peak in beautiful Princeton man. Johnny peak profits forty imperfect trails or boasting gorgeous views of the president to mountains. And lakes region of the name comes skiing entreaties we offered stiff and related areas to play and and freight train tracks that range from good enough street expected to. Did you know that Sony deep pockets mean most nights being in New England. Nineteen about sales and at six nights a week and the cost of nineteen it's always included in your daily ticket. Johnny PR for his family friends and outs and action packed calendar of events. And fantastic ski and write programs to get used and you crew on the snow and having fun ski pole day and into the night to make plans now it's Johnny. Calm. 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In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings re subject to change without notice leader bank a step ahead member of the icy. And me. Yeah this is the financial exchange with Barry Armstrong and jokes are. You're exclusive look at business and financial news affecting your day your city your war. Stay informed and up today about economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck son. The stock market is very fickle and probably already knew that one little data point. Can set investors. On their year and upset them. And we got a little data point this morning about 8:30 eastern time had to do with the retail sales and some of a gunshot. Day you know before that number came out again I'm gonna say futures were 152. Owner points you have written that 150 range now and then you you get a bad retail sales number. It which is one month statistic but the way. And now the Dow's down 160 some points to 1% swing. It is a mean in in and look I think obviously that one data point is in focus here Eaton. But aside from jobs in the US is there anything that makes you feel good about this economy unemployment rate. But that's jobs McCann SI like aside from jobs right now is there anything we say here's a real sign of strength they can help us grow. Op I got nothing now. Small business optimism has three point crash last month healing you get all the data coming out. It eurozone industrial production at its worst number since 2009. Last empathy you look at housing there's still a lot of pent up demand for housing I know the price point aren't there yet but. Date don't you think. Bet that. Yet your generation will eventually get off the diamond and by house now and what's that do for us this month. In the short term on a number see I'm not worried about us this month or even this quarter frankly. If if we have a bad year doesn't bother me when I'm more concerned about it long term fundamentals. Booed the hell with it wrongdoers you have to live through the short term you know. You know like long term is built on you know year after year after year you know good wage growth a nose job related. Demand for workers is high now. You I look at this and I say even with that wage growth he got up ticks in delinquencies and every type consumer rule that is the trouble hey the update. Which if you can't pay your bills when additional unemployment what do you do when there is again I hate to continue to soundly give Debbie downer but it's just now feels like we're getting close to an inflection point on this. Where people are gonna wake up and say. Gee it's not great out you know and and that actually. Comes back to our survey question for today are poll question. There's a study done by BT and research was done last year. But 48%. Of working Americans surveyed last year anticipate working past age 65. When you back thirty years and I was working third year yeah island in 1989. When they did this survey. Only 16% of workers felt that they were gonna have to work. Past. It's been a big shift in I think there's there's a couple of key things that have happened to change the calculus there the first. Is actually good thing and that's people in general are living longer and so they have to be a plan for a longer retirement cut the second piece though is that. The tech bubble in the financial crisis. Really hit people hard as far as. Ones here missed in the big one. What's the big one pensions. Yeah you that you look back yup chuck in 1989. Missed that one in 1989 folks in you to those of you who are little more aged and right. Use it is that it could hurt your ranked does not like I consider myself to be right now you're repeating stale for those of us who are right. Back in 1989 I I worked. And full time job and as working for an insurance company. And I had was called it defined benefit pension plan talker. And what that meant if lights kept working every year are get a statement from that insurance company and they'd say to me Barry. Thank you for your service. Here's how much money we put in your defined benefit pension plan if you keep pork and force in theory 65. You're gonna get a pension of X thousands of dollars per month then and I was pretty excited. You know oh yuck and then in the 1990s that same companies and yet we can't afford. Went in and here's the thing from a financial perspective the responsible thing for the company is to say yeah we don't wanna do that anymore is it makes things cheaper for them. The nicer not so much cheaper. As it is more predictable we want to get rid of the liability it it takes a whole bunch of risk off their books. If you talk to CFO they'll tell you the big reason we wanted that risk off our books though was. In the week we. He was too easy did to further risk like you look at the situation g.s and now. Yeah being put the money away for the pension. Now what they underfunded by 25 billion Neil Patrick yes it's dramatically underfunded what are the Commonwealth of Massachusetts I guess that the look at Florida how much sealed their pensioners where I'm going with that was. Now all that happens is that it's easy for an individual to defer the risk the rest doesn't leave the system as a whole no just gets pushed from the company to the individual. In all we find is that India tools make the same mistakes is companies did that it's it's worse here at the track because. In the case where is the company. Right it what I used to get that statement from the company that there was no opportunity for me to invade that money. Yup OK I couldn't get that that money wears now you can it's in my 41 K plan and I could tell he talked HR and any company. They have people coming every day taken money out of their four OK put duty to borrow the money out. If they can't borrow it though just say well I KK he can only have one loan and a four wood came at a time yup. So you'll I've I saw somebody coming and and they had a 41 cable. And he had used that to us to buy a house than they do they decided they needed a new car right in Dayton if they just literally took a withdrawal. From their 401K plan they paid all the taxes and the penalties on it because they have access to in the old racetrack. You could get access to your retirement it was a lockbox. In all you would get then is a monthly pension but if you look at older retirees like my dad right my dad retired yeah. He's got a 401K plan and he's so he's gotten now with the diary roll over yet he gets healthy Social Security check. And he gets a pension check every month. From his old imports. Yeah and in in those pensions as we gave if you look at private sector employees now you're down to like twelve or 13% of them are covered by a pension that Jack seems to me is that and that's gonna continue to decline as we go because if we will in all pull up the data but if you look at you know the shift over time. I think the and foot the crossover point was an early ninety's when you started to see more 41 case and so forth and pensions him. Well our poll question today is do you plan on working past each 65. Thus far 55% of you are saying yes I'm planning to work past age 65 the national number according to be TN. Is 48%. If you have a comment on this topic would love to hear from your text number is 63566. I got a text from one of our listeners he retired at sixty but he still works fifteen to twenty hours a week fictional stereotypes is that right to. We count on is that right if you know how to do this election I have via the data now as far as what what things look like for Pia what kind of plans are available to employees and it and we have an up to 2013. Just is the most recent data could find. So if you go back to 1980. 29%. Of companies offered a pension this at that point 111%. Offered both the pension and 41 case about 40% total for pensions. And only about 8% offered a 41 K only and today it's 33%. Or 41 can only. 11% still offer both types of plans actually I'm shocked that it's 1% but only 2%. Are defined benefit pension known all okay so it's 13% have defined benefits ago. What percent notes thirteen. Was a personal 11% off the boat all they have pension and 41 cat so its its 13% have a pension at this point. I just think you're thinking in terms of our listeners our clientele like Q Tony the last time I met somebody who said Aaliyah I get a pensioner I'm gonna get a pension from. Raytheon whoever it is the only team very were the only people under age fifty that are still in line to get pensions of public sector workers there. I think that's the I think that is part of the reason chock. That people are going to work past the age 65 I agree I I did not know sell it when I was first looking at a placenta it's it's a big difference anyway who website address this financial exchange showed dot com. Three in ten Americans. Have more credit card debt then emergency savings holes he was Tennessee. Holy crap that we just I say holy crap all the time yeah under on the air to notice Aaliyah. Jeffs is fifty seat Indy Fedor and say holy cow. That is holy cow okay in this used gosh Bengie will lookers. Jimmy jokers myself and senators she will curses the propellant that. In any case this was a survey from mob Bankrate dot com they surveyed a little over thousand adults. 44% of households had more money in emergency savings in the own credit card debt to actually down from 50% last year's over what ever reason. With how good the economy was in 2017 and eighteen and have our savings habits got worse. Our savings habits got worse. The other side is what you were mentioning to 49% of those surveyed had more credit card debt that emergency savings which is an increase from last year's 21 per. Credit card debt is a lot like used car loans the the very profitable. The link you if you look only other rates are fifteen to 30% if you look at Capital One or any of these companies that are now that this strike. In you read their reports they don't make money they don't make as much money. On the guys like you'd pay off your delivery they don't like me. And only they they're still making 2%. Right but then you get points in the travel points in all gifts so. They're they're making 2% on those charges and then invaders they're still profitable using your credit cards. But where they rarely make money is on that soccer's they carry a balance. Credit card it is in in you look at it you say okay needed to someone who might have. 5000 dollars an outstanding credit card to mean the average balance by the way for someone who does have credit card debt how much as is north of 8000. OK so if you guys say look let's look at 8000. That's if the interest rate on that debt is 20% which is a standard middle them for credit card debt. In your paying 16100 dollars a year in interest for things that you Marty ball in. 16100 dollars a year in interest things you already bought the average person pay that Sakharov out here you have to take. Third. Get rid of your credit card I can tie I've been doing this a long time folks. I've seen marriages dissolve because of credit card debt I've seen. It it it's awful it's insidious you know is it just it insisted. I've found you know debt is is is fascinating from one perspective that I'm one hand some people used as motivation to work harder where this AG and need to get this paid off some new and do more working but there's another side of it where it's if you feel trapped by that it just as you said it eats at marriages heats up you know families and it's it's just it's not cute. All right up next we're going to be playing trivia and thank goodness we have some good trivia thing none of this. Just be to wait until tomorrow. It's tomorrow or tomorrow we do we do action movie trivia on Fridays when you're not then there is an MR I mean tomorrow working. So direction move return in Matt take note of that. Perfect. Outstanding anyway we've got mats and we've got good trivia coming up next on and it's just respond. Chicago tour. Everything business and finance future financial exchange with Barry Armstrong in chunks on the financial exchange radio network. If your land border property manager rent collection can be very challenging especially if you own multiple properties leader bank has a program that can help you it's called Z deposit this is another free program which streamline the opening of tenant security deposit accounts -- totally digital experience with Z deposit landlords can open an account online 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 will even send annual interest payments directly to the tenants it's easy to get started just called -- deposit team it's 7816418691. Z deposit is a free program to if you're a landlord or property owner call today and make it that much easier to collect and manage your security deposits that 7816418691. Or visit them online at -- deposit dot net member FTS -- leader bank a step ahead. Do with the loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of the spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages and tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. He suffered securities America incorporated members and SIPC and advisory services officer securities America advisors incorporated Gary Armstrong represented at Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the loss in your statement. It's 6 AM clear as a bell and winter quiet I'm watching Mike Pratt turn to steam. If I turn left out of the driveway there's a mountain of paperwork on my desk if I turn right there's a mountainous snow at loon. I am turning bright and. Work will still be there tomorrow January delivered over five feet of snow and lose wide open. Three mountain peaks tree skiing award winning terrain parks and New Hampshire is only super fight safely tickets at loon NTS dot com slash tickets. If your -- -- property manager rent collection can be very challenging especially if you own multiple properties leader bank has a program that can help -- it's called -- deposit this is another free program which -- the opening of tenant security deposit accounts -- totally digital experience with -- deposit landlords can open an account online invite -- to enter their information and then manage all their security deposits C deposit also automates many of the compliance headaches for landlords such as generating account disclosure forms and will even send annual interest payments directly to the -- it's easy to get started just called -- deposit team at 7816418691. -- deposit is a free program to if you're a landlord or property owner call today and make it that much easier to collect and manage your security deposits that 7816418691. Or visit them online at C deposit dot -- member FDIC -- -- a step ahead. And I say no you probably think it to step it falls out of its guys and more we see it differently at Kramer's known as a form of art. They craft if you think that improvement we make it all went through London he never ever stopped looking for ways to make clear conditions better. He'll feel honored for less than an hour remaining areas and you see it flying out of our energy efficient snow then. Snow is what leads field that simply print more inexperienced clincher our way. Get at today's conditions and calendar tracing it print more dot com. 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. Finally get some good trivia here for weekly trivia every day in this is your opportunity to win a fifty dollar. Gift certificate to him. Used for the purchase of gasoline everybody needs gas you car. This week. In 1801. An electoral tide could Republicans airing over and Thomas Jefferson. Resulted in Thomas Jefferson being named the third president of the United States. We will be asking trivia. Questions about Thomas Jefferson. When president shall Jefferson rain for re election in eighteen no war who replaced Aaron brewer. As his running. You on. Our text numbers it's not a recurrence are a number 63566. This is this your history ideas this is good stuff is good is his collection of very good question who what when president Jefferson ran for reelection in 1804. Who replaced. Heated air and over as his running again our text number 63566. And if you haven't played before my first name Barry before you type in 63566. And who knows you might win the gas card. You know I I know some stuff get fifty dollars. So I've been talking to some clients. About the taxes and have a few not many. That have filed their taxes. Early and I can edit this to be very early to have filed taxes Aaliyah and I Italian lot of my clients are not happy what would what is the most unhappy about the inability to deduct. Beer excessively high property taxes. Particularly. Those clients in New Hampshire might add I can't tie it at half the complaint I've gotten from people. Yeah and in in the big thing if if you're not Miller was the state and local tax deduction is now capped a 101000 now and and so when I'm in New Hampshire folks. If you have a home it's worth half a million bucks it's 101000 dollars in property tax it's you know so you know that's something that I've seen. In general if if people do not have high property taxes and I've typically seen people making out pretty well. I've seen tax burdens about ten to 15% lower. In previous years but for people that do have a large amount of property. They are getting hit by this well and if you itemize before right it where it's vice what I've noticed Turkey's. People between two and 400000 dollars of income yeah they tend to have a lot of property yet and they're getting slaughtered. They are I still think if if you look at it on the whole been in general again it is it it really depends because again that state and local tax deduction is a big shift from before. And we nationally you're right I think we'll leave your your full putter. Well let me just talk to your friends that you doctor Klein's that live. In doing that have you know the BD live in they live in Massachusetts and they've got a place on the K yeah right. It's not a comedy be paying 304050000. Bucks a year property taxes that I get that I get that but what this is this the deal as it is and unfortunately those and I think complain about it. No we are complaining about a year ago we knew this was gonna have no we we did we warn people that this is I know that's lives now it's happening and I'm getting calls people are ticked off. I get past the hole that would somebody you know I was involved in the negotiations he it he I mark my words it added it's it's one of those things it's not hitting people in Kansas is not hurting people of North Dakota. But if you live in the northeast. In your filing your taxes. I thought I'd be curious to see it because you don't what it's only February 14 yet right. It's not going to be we you're gonna see Tucker a lot of really crappy listeners are gonna have Arianna. Now that those are the people who have bad tax returns and when I say bad I mean the people who were either getting less of a refund makes Specter making out worse they file leader in the season the people who have filed at this point are the ones where they say hey this is great or. Okay it's me it's not great but it's at least you know like I can deal with this. The ones where they're getting surprised this is something is getting at anyone's being issued you you'll get a lot of these complaints coming in. Late April may June 2 wheel in in the one thing that is going to hit. Middle America regardless of the state and it is going to be the fact that caused the withholding tables change you can have people used to get refunds are getting them anymore. And I used to rely but that's. Very it's going to matter I people I'm telling you right now by late April day. This is gonna go viral bite on social media. Blaming trump and uneducated well people blaming trump. But they should be they look at their paycheck it's gonna go viral your paycheck went up by a 150 dollars to I'm not debating that and now saying I qualities people who got who typically gotten refunds but 1002000 boxed in now have to pay two grand so this stupid not to be able to do yeah easily it to be yet we're concerned at the stupid correct. You can concern yourself with the stupid I'm just telling you you're getting at a large tax refund and doing your you're not managing its ardea armory seeing it happen on to hear people complaining about their tax refund or you know it all got more last year were with Donald Trump do remain anxiously all your peers I know all of you that way US withholding that was done NC had to account for that and people didn't uninstalling and I'm not saying that those people are blameless in this I'm just saying this is going to be beat being over the next two months since I don't care. When I care about are the people that's oil BC on FaceBook I probably should. Market on the board great great the sentinels to look forward to including action movie trivia market. Driver of this card now this is interest. The the the the actually track the number of incidents with driver this card data. And I'll take these two companies that are light years ahead of everybody else General Motors. And we yet and it in Wayman was even significantly farther had been in GM's last night at them that they have twice is there half as many. Video problems is lame note yesterday you look at it like. The the the number of accidents and problems are are miniscule in GM's rate of improvement is much faster than. It is in at the par that's kind of like running a hundred yard dash notes you go from eleven seconds tendons in nine that's right so threatened with with William O right now. They're rate of disengagement and what that means a disengagement. Event happens when the cars as I can't drive thru this road and you're human to take over. That's down to point 09 per thousand miles away -- is about double that it's still very low will do little bit more yet we really we need spend our time on this this is important Tuesday kinda gives you an idea. As to how much longer it's gonna take before you have truly driver's car technology. The financial exchanges and live on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. If you haven't started in the state plan yet now's the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan many problems can arise take the time to avoid that kind of issue by calling talk about ski a partner with the law firm of Cushing in Dolan Thomas an expert in taxation and elder law and he can help you identify the right kind of planned for your family there are numerous kinds of drugs that are available but two of the most common are rev a double and irrevocable trusts their major differences between material so before you put pen to paper get some solid advice from someone who knows he can advise you on the best way to put together your plan Cushing and Dolan is a free guide out this month on the differences between -- a blender amicable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state taxes while protecting your assets from creditors and long term care expenses. Call right now to give this free guide an 8668485699. Or download it right now from their website legal exchange showed dot com. In medieval times a sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. 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 really helped me reconnect on issues that are so important to the overall process co leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC equal housing lender MLS number 449250. Are subject to credit approval leader bank. A step ahead at 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 a kid at Christmas he's going to be the window skis at the door hot cup of coffee in hand that you dream just in time for first tracks in Berlin. January delivered over five feet of snow and lute is wide open wheel. The free mountain peaks tree skiing award winning terrain parks and New Hampshire police who provide a save on tickets at blue and MTN dot com slash tickets. I've folks this is Mike Armstrong and I'm joined by estate planning attorney Todd lets you with your financial exchange quick tip of the day. They were talking about the differences between revote Coble and your revote will trusts have taught you what is the biggest difference between a revote Kabul verses and durable Coble trust. You know this is probably the most frequently asked question that that I get here richer people just wanna know that and there are really a lot of differences but what I'm gonna do is to tell you what we're talking about the differences between a Medicaid irrevocable trust has folks there's so many kinds of irrevocable trusts out there. I want to be clear that this is those income only Medicaid. Irrevocable trusts that are designed to protect assets from the owners now vs. A revote global family tight trust. The biggest difference between the two is that. Re vocal trust will never protect assets from the nursing a five years ten years doesn't matter how long your assets are an. But with an irrevocable trust after the assets have been put in there for five years. Then they will be protected from the costs of long term care that's really the difference well let's haired pain attorney to draft I'll trust to revoke all can I just go and have them change into an revolt apple trust so many people love to do that you could but no. You actually have to start over the language of the trust itself is key. In making it protected from the nursing homes so you can't just make the word revoke double irrevocable and that is there not so easy but that's the big difference lies control wise I think you're still. About the same. Excellent while the estate planning expert to Christian and don't have written a brand new guys that answer the most common questions that you have about the differences between revote Kabul and irrevocable trusts you gonna press has brand new guy by calling 8668485699. However folks if you wanna download the guide today. Just as it legal exchange showed dot com once again if you want to guide paper though give us a call 866848. 569. You might not be able to keep up with all the latest business and finance news but we fix the financial exchange with Barry Armstrong and chunks out of all the financial exchange radio network. Yeah I'm. We've been talking about driver less car technology. And for a long time and I know that trivia and tribute. It is it's and he it. Every Kennedy were almost there to do in another setback hurts it's it's another two years three years. I think it's almost impossible to predict when we're gonna have the most articulate true move level five drive the scars to. Three years. I think dipped three years back where it will define that. Like with the human stop touching no real I think within three years going to be able to get not everyone's gonna have this but are going to be able to get into a car it's most likely going to be from Google's window unit. And you're the cars and he'll take you wherever you want to go in that city without. Anyone driving it so I do over is it going to be nationwide. No it's in Phoenix now but they're still human in their takeover. Vernon how often does does the driver have to take over the claim to yes it is of the driver takes over. Less then up point one times per thousand miles to put this in perspective as far as you know how often the driver has to actually take over and if you do the math that I'm doing it right now just to make work him it works out to a bouts. One time every 100000 miles a driver asked me to say I wonder if the yen if it's already better than human now. Is that you like you think they owner with the average accidentally read news. But how many miles the unity you know you know getting gates makes a what you're saying there is. Potentially this driver in NASCAR could have an accident every 100000 miles dose of rate of disengagement is different from an accident so. I don't have accidents statistics this is just the number of times that the computer gets confused and says. Don't know what to do eurozone Wales England can't do it wants out of every 100000 miles what's the idea yet GM's crews unit is. Point 19 times out of every thousand so it's about one every 50000 miles. And then you get into a whole bunch companies that really. Aren't even close at this point apple. Has 872. Stops per thousand miles it's pretty much won a mile that they end up having been who were actually rose to 2860. Per thousand miles Hoover has three issues every mild. With their driver Lewis technology right now they have to partner some date that they do want Chesley notes Tesla numbers. No just test doesn't have any fully autonomous. Stuff that's that's fully deployed at the moment yet you know remember that there's issues with their auto pilot stuff and that kind of backed away and chuck. Saying three years Tucker yet that on the prediction I'll put up there now. That's easy money for me time for the trivia answer George Clinton was selected by president Jefferson as his running mate. Due to a falling out with Aaron Bieber and also due to his popularity in the electorally important State of New York. The Jefferson Clinton ticket cruised to a 162. To fourteen victory in the Electoral College. And the winner on this question was Joseph from Georgetown and Joseph is taking home. A fifty dollar gas card today tribute today's brought to you by Armstrong advisory group with markets still volatile. Now's a great time to review your portfolio call 80393. 4001. Incident you're free. No obligation consultation today. In a reminder that tomorrow we are doing action movie trivia and if anyone has an action movie they'd like community based on. Feel free to text as because I'm always looking for new ideas so Texas your favorite action movies and maybe will be trivia based on the tomorrow I have. Start work in a couple Fridays here to keep in mind off Fridays on. Yet as I'm not here now is up and I don't know nearly as much fun with Amir know you're still we're still gonna have on them are now. But a damper on Tucker and I think I Tucker and I want to do my job right there I did not end that products a speaking at fun. Zero funds server. Equifax never Equifax disaster in mean how many people got fired. It is like guys on there and you know this was the data breach back in September 17 where a 143. Million people. Had their information stole including you and me pretty much ever won it. What's interesting is that this information has popped up anywhere yet. You know you get this dark web that's out there where usually the stuff pops up on. Has popped up Pia what do you think bad news because it gets jail time does. Some of it does innings it depends on what kind of information you're talking about when the theory that a number of cyber security people have brought to the table at this point. Is that this was not a criminal. Thing that happened but rather some type of spy agency going in to grab this date. For what purpose. I don't know. But that's that's the one thing I've seen bandied about is that. It it could've been something along those lines up. But. You know it's it's it's and I've heard that theory right. Based and trying to figure out why I guess they could use that. To try to figure out who's the spine mean well here's the things of view looking at this from the perspective of a spy agency senior China. Okay if you are trying to establish assets in a new country. The things that you look for you want to find people with credit problems and spending problems is their vulnerable and you say okay we're gonna target them so I. That's kinda how I look at it is that. Hey maybe they're just looking for people with bad credit that it worked government program right they work for the Department of Defense but he'll let me just you know they were for contractor you know DOD contractors something like that any of the casino to a degree yes something along those lines you know that's it could just be they're scouring for people to kind of probe his assets like that's that's what I would cast. Unbelievable and folks it's hard to find a bank it has checking and savings account that can provide a decent return but if the market for one. A deal you're gonna wanna check out. I've been doing business with leader bank for many years so if you're in you to the bank was great rates on checking and savings accounts look no further than leader banks zoo rewards account. Qualifying customers get 1% back on debit 10% back it featured businesses. With no minimum balance required and no monthly fees but that's not all. Leader bags who missed savings accounts got 2.3 5% EPY it's a great perk for student customers. If you're searching for a great rate it's time to call leader bank 77691. 7900. The number again is 8776917900. Or. As the mom and leader bank dot com minimum to pause to open and Ernie EP wise ten dollars 2.3 3% interest rate mass residents only these may reduce earnings. Great subject to change that notes leader bank east at him and DIC. Says JPMorgan getting into the crypto currency business after. Jamie Dimon CEO. Declared crypto currencies to be a fraud. Talk about hypocrite I think self. I think this is actually I I think I don't think there's anything hypocritical about it. I don't because activity he did call it fraud what he called the ones that are out there girl you know is is okay. Well I do think it is because it's not purporting to be what the other ones are you know if you look at bitcoin is there any inherent value when it. I think that's fair from if I had ten of my consultant and he couldn't. Today but you know let's say a hundred years now was there any in here is it. Is it definitely worth anything about years that we do but what he's JPMorgan's house keeping or it's going to be different. So I think what JPMorgan is going to be different is that it's going to be used in order to actually complete other transactions for valuable assets that's what they're going to be using it in real time. Correct and so you know are sitting at a table. And you hand me over a pile of gold rate used is a pile of gold on the table Oca. And we agree that it's worth a 100000. Dollars I can encrypt the currency. That over to you using JPMorgan's tool. And it's and it's in instantaneous. More importantly we're not sitting in the same or more on opposite sides of the world and we can do that instantaneously. Upon both of us can confirming receipt of what we thought we were getting. And so. It again he can't do that dollars. The swift payment system really isn't set up to do that it's in saved everything Italy's rating today today there's certain hours that it operates during this new certain protocols as to go all of this could be done on Christmas today. At noon correct. Because the verification process happens you know through bankrupt policy instead of do you think there's really need that. I I don't I can't think of one actually needed something of that. It's so the real need in the real well when I woke him watching the more that I look at him. The thing I find intriguing about it is the ability to create an on Alter bowl record. Of something that's happened at some point in time. And so. What I mean by that. If you go through you know if if you look what what are the big problems that we have right now as an example is you know people doctoring you know videos online and putting you know stuff up where you get the headed this person attached to this one you know what this person said in global law. Well if you use blocked chain technology and you can use that to authenticate this type stuff so that you say look. We can tell something's been altered or not I don't know it's like I just don't know if it's going to be it's in use is going to be as a currency. I think that's kind of what the easiest understand uses and that's why it's being used that way first. But. I don't know like the technology has promise but I I just I haven't I don't know what the I don't know that there's that much application for taxes. They they. No but. Again I I don't think that the currency part is going to be what's valuable when it'll send on both ends. I I just I ideal median payment easily you know it's. I think that payments are going to be something that's a minor part of the crypt of story when it's all said and done. I think it's more about information verification. And that's gonna become more and more important. As computing power gets more powerful we have more ways to make things look real that actually are evoke a trump. Is making the policy push towards paid family leave work talk about it next on a neat story. Aaron showed him a financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio that. Work -- with the loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of the spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages and tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. He suffered securities America incorporated member -- SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group in 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 loss in your state. Your dream home is within reach with a Jumbo mortgage a loan from leader bank the Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. They're driven started in the state plan yet now is the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan many problems can arise take the time to avoid that kind of issue by calling talk about ski a partner with the law firm of Cushing in Dolan Thomas an expert in taxation and elder law and he can help you identify the right kind of planned for your family there are numerous kinds of trusts that are available but two of the most common are rev a doable and irrevocable trusts there -- major differences between material so before you put pen to paper get some solid advice from someone who knows and can advise you on the best way to put together your plan fishing in Dolan is a free guide on this month on the differences between -- doable and irrevocable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state taxes while protecting your assets from creditors and long term care expenses caller right now to get this free guide an 8668485699. Or downloaded right now from their website legal exchange showed done. John if you're real estate property management company you need -- banking partner that has all the right tools to keep your operation efficient leader bank is one of these premier banks in the property management and real estate space offering a suite of unique products and cash management services helping collect rent managed Condo association payments and digitize paper checks hi this is chuck is not a we'd bank utilizing state of the art technology to offer convenient banking services to which real estate clients such as a CH payments mobile banking promote check scanners and its innovative -- rent payment platform leader bank has a team of business bankers that are on -- help you know come to your place of business to make it as easy as possible number to call your interest did is 8776917900. That's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose leader bank is they're banking partner call 8776917900. Or email BBO leader bank dot com for more information member FDIC equal housing one. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent date with easy round leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more -- -- rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free for all landlords visit WWW dug see rent dot -- to learn more or call 7816418691. Security suffered through securities America income members finreg SIPC and 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 X. Range radio network. Yeah. We have breaking news as it relates to Amazon.com. Yeah Amazon according to while both orders and the New York Times now picking up in confirming. Amazon announcing that they are not going to build their New York City headquarters. And so Amazon. Looks like they're just heading to DC now with the Amazon spokeswoman Jodi Seth for what was. After much thought and deliberation we've decided not to move forward with their plans to build a headquarters for Amazon in Long Island City queens. And what do you think what's. Well clearly they they were getting so much backlash that they they just decided to clone Dolly fiddler to deal with the obnoxious New Yorkers. Rightly get stimulated New Yorkers are tough and I think I I don't want any York by my son lives in New York. You know. Now the good question here is that they politely new englanders that Floridians. Very polite. Here's the question does Amazon simply say okay we're going to do you know just double the size of our DC. New headquarters that we're building. Is Amazon's say hey we don't actually need this space and so we're just not gonna do anything or. They say hates Boston Davies 34 and five you're on the hook once let's go let's see if we get something done in the near future. Fighting acting if you wore the fall back seat CU or that city. Are saying you're so full screw this I'm not gonna give me. Why are we have our deals off the table. Clearly we are reduce king's ransom the war as especially after the the whole you know. Rodeo that they went through the last time right I would not imagine that cities are looking to just hop back into the beating on this as quickly as they did the first times two a frequencies do feel like they got plate. I think they did to be completely honest. Where the rumors start circulating as soon as tomorrow. Probably area. You know hearing anything are bought and rumors about Amazon. Next cities and I'm not mean which is broke so I'll stick with the fact maybe they already built in Boise in this is there wave on bail and here's something that's rather remarkable though SE remarkable. Here's how badly Amazon handled this. They got to the point where they put this thing in two cities in one of them dislike it's so badly. That despite a year long process they had the backed out of the city. And New York. It is New York didn't need it is Britney and Boston does it is but here's. Just when we talk about the story of Amazon can he get what when people invest in Amazon and investing profits that the profits are minimal. They're investing because the growth story in the storage company can do when he thing. This the first time you've ever seen anyone push back against Amazon in win. When when does anyone else pushed back against Amazon and one would be with him. Not getting Amazon got it all this in it again all I'm saying is. It's this important story in New Yorkers know battery. That this isn't any kind of a scourge. We knew that when you look at the deal. Like I I agree I think games and none of the Foxconn dealing with Scott screw job analysts put. This big like Amazon as the company that no one is ever defeated and indeed just got hit by the biggest city. In the US Europe and arguably still the most powerful city in the world. Which I think is terrific so there's there's something here with regards to act and I don't Amazon. There's something here that makes me think a little. A thought about a market Trump's next policy has Tucker can weigh in on this Tucker would when your baby was born in December. Would you take Kawika. You're more like electrical holidays present for holidays that we had off so it took technically six days off sixty's yeah. Enough. We would you like to have had I mean if you ask me today I could refuse today off the Internet last night was not fond. Now in his little band was up every hour almost believe there is ever get up as a pocket trump is working with Marco Rubio. On some kind of paid family leave program. And this is beat your generation is really bringing this to the forefront and I admire what you're you guys are doing I just don't know Howard Payne for. Yeah that that the big question is always going to be cost which book I can tell you we're gonna pay for we're gonna pay for with additional taxes and where those taxes come from I think is is going to be the question is something he gets tacked on as a payroll tax. Is it a bat is it a property tax no. Don't know. But the only way to end up being a being able to pay for this is to raise taxes one way or another and obviously that's not gonna be popular or a whole lot of folks. What about have in the employee. They contribute to a fund like straight talker he he how far in advance did you kind of planned this child Tucker. I don't know rearrest him Holland is taking to get pregnant I don't know it just happened we early planning. And I detest for yet the idea it was going to be twenty team we're gonna start crying yeah so. Year and a half is that a fair sir yes sure you're there that's fair so. Couldn't you a year city. Have a program where the employee says along and have extra money taken out of my pay. And then maybe the state kicks in a few bucks in the employer kicks in a few bucks Seton get an extended period of time. You could mean I'm thinking about just the math of it Sophie talking twelve weeks that's about a quarter of the year that's what a lot of these plants talk about a somewhere in the ballpark twelve weeks. On a national level. So you're talking about twelve weeks to quarter of years if you have a year and a half say for it means that you got to say about eighteen and 19% to. Of your income over that time to cover. That gap that's if one employees doing it on their own but the states kick in and so but say okay this or he's gonna get taken 3% and the employer kicks in 3% and then you're saying okay it's an extra 12% coming out your paycheck. I think it makes sense still don't know for everyone can necessarily do that there's a lot of people live paycheck to paycheck right now and so. They get looked like this when they are reasonable yeah I think it's reasonable but I also think that it's really impossible for a lot of people that most your friends talkers at both couples both. Partners are working in the merge correct. Yeah I know resounding no he says an object yeah most yep I attribute by doing company in which I think if I know anyone who's not a two income family when and I don't know can't name one I don't know and we had when we had kids my wife stayed home she just ordered the F. She stayed home for twenty years so look. It's it's an intriguing idea but the question is can be how do you pay for where did taxes come from and that's we're getting. All kinds disagreements that we all kinds of funds talk about I'm sure. The Dow is down a 104 points the S&P is down seven the NASDAQ whoever is up four point Russell 2000 was pretty much flat gold down a dollar when he announced. Pretty decent day given that retail we'll see tomorrow right here on the Benito today.