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Full Show 3-21-19

Mar 21, 2019|

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I need. This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. Federal Reserve officials indicated yesterday. That they are not going to raise interest rates anymore. In the year two when he nineteen as a matter of fact there's a lot of money being wagered that the next rate move will be downward why. Well the economy is showing evidence that a slowing down how low when you're probably looking at unfortunately. Obama Arab growth. For the year 2019 of about 29 air about 2%. You've got that stat but then let me share this one lets you. Wages are increasing. At a very rapid rate the year over year rate country wage increase in the average hourly earnings of all private sector workers was 3.4 percent to temper when he nineteen. That's the largest year over year percentage increased reported in the private sector since April of 2000 in ninth. And then we're gonna talk a little bit about terrorists hi everybody it's Perry chuck and Tucker here this morning. And we just got so darn much information yesterday afternoon it's almost impossible to figure out where to start digesting. Yeah I mean I think the that the big thing is the Fed yesterday for me at least can confirmed that you know the dead. Seemingly dove ish nature that we've we have picked up from them over the last few months. Is is. Really reality at this point you know they. They've pretty much says look war were not making any additional moves at this point on top of that they gave us clarity on the balance sheet runoff they're gonna stop that. By September of this year so there's less than six months left of that at this point. And when you're doing these things it's it's interesting so. In the first two to three months of the year. The dominant moving the dominant thinking for markets was fed Elvis news equals markets up. Because in the short term. Ed dumbest this makes it cheaper and easier to buy assets and stocks are assets. On the other hand what you saw yesterday and what I think the battle you're gonna be waging here for the next few months is hey if if the Fed is turning this dovish and again you know. It was just three months ago the Jerome Powell also paid the balance sheet is on auto pilot we're gonna continue to hike. And now three months after that the Fed is turning this dovish. Doesn't it at some point make investors wonder. Why is there something that we need to be worried about. Well I think they're looking at the statistics like retail sales I do understand me you know these numbers are not great. And things seemed to be slowing down so we're gonna stop. Raising rates here are in economic indicators that you've been observing truck for the last at least six months if not nine. But it may do little bit cautious site security situation where. If you've only got GDP growth I think the Fed is now forecasting two point 1% for the year 2019 and I think it's going to be zero I think gave the Atlanta fed is saying it's going to be zero for the first quarter yet. So you things are slow down right think things are slow down that would realize that in this is what I wanted to talk about it is. You've got a lot of evidence that things are slowing down but wage growth. It's been really strong. In in particular. Wage growth at the low end of the scale chuck I'm not talking about. They accountant that's make in a 100000 bucks a year I'm talking about. I don't know the the guy that's working as a landscaper. The the guy that's working is plumbers apprentice or the electrician or carpenter at. Construction worker. The national tremendous amount of wage growth for these people as a matter of fact you've seen people chucked him several instances depending on which study Greek. Where people are going from a minimum wage worker. 22823. Dollars an hour because they get accepted in to a union of some sort so. It's it's. Kind of the old main street vs Wall Street and I get the perception. And I'd I'm of the opinion that main street is finally panic catching up to Wall Street in my in my oversimplified this. I think in the short term it's accurate I think in in what what concerns me longer term and and again I I kind of a lot of people kind of laughed me out of the room back last July and August when I started to bring this potential up but. What concerns me most here. Is the types of structural changes that you're seeing in the economy right now. Yeah are the type of changes. That have the potential to lead to a stagflation airy environment low growth. High inflation and and that's something that it's. That worries me because when you yeah higher wage growth in the seventies. Nominally had really good wager of the problem was wage growth kept up with inflation so yeah. You got a 6% raise every year but you also had inflation running at 7% so it's. Chuck in the Fed notes yesterday they said there are disappointed that they're not hitting their inflation objections objectives are saying. Inflation isn't hot enough they would they want higher rates of inflation which is it was last time you heard that out of the fat. So here's the counterpoint to all that is cut if you look at why aid that's the case right now. The last eighteen months have seen eight dollars that's appreciated. By about 8%. They've seen oil prices even now with prices back it's sixty dollars a barrel. You see oil prices that are off about 20%. In we're still seeing you've got a global slowdown that's happening where China is not buying anything. Europe slowing down significantly you've got this huge global slowdown that's happening you've got oil prices down you've got a dollar up. And even with all of those things that you have inflation running at. Really nothing. It's still running at 2% actually. Since you're actually worried you might be the only guy in town worried about inflation track which is. Exactly YA tend to be worried about it window once talked about here's here's I find really interesting right now you go back to 2001. When President Bush the second one was pushing through his tax cuts yes it every Democrat in the room was screaming bloody murder about we can't do this because the deficit we can't do that has the deficit. Fast forward 2009 person Obama's pushing forward obamacare. Every Republican in the room screaming we can't do this because the deficit can't do this because the deficit. Do you hear anyone Republican or Democrat talking about the deficit right now though married. You know I find that interest. I also wanna talk just in terms of slowing growth rates for this year one thing that I track hollered just earnings projections for the year. So wanna go back to what January 4 which is it. FactSet which is day in information aggregators they published. Aggregation of analyst earnings projections for the entire year and on January 4 of 2019. Analysts were projecting full year 2019 earnings growth of seven point 4%. Today it's three point 8%. But look I I I'm not of the opinion that the stock market's gonna go on a pair I don't want to give him the Indian. Wrong impression here I think the long term. You'll have very strong equity prices but when you see again I come back to the wage growth at the bottom and the scale chuck and he you see a decrease in social welfare programs like if you look at the number of people on food stamps today yup verses were or what is three years ago to wait it is. All the kinds of welfare programs and the year talk about free phones are free electricity or rent subsidies. Decrease when that the dollar an hour worker goes to 22 dollars and eat it takes awhile for that to sink into the economy. And nobody understood that better than Henry Ford your member Brady he said I've got to pay my workers a living wage that they can afford to buy one of my cars. That's kind of what I see happening now that's why go back again I keep coming back to mean street vs Wall Street Wall Street may suffer. Investment bankers and stockbrokers may make less money during the next five years. And I think the eat it and I think that's okay yeah I I think if if the top 1%. Does it make quite as much money but the bottom 20% makes a heck of a lot more money. I think that's better for society. You may not likely your count statement that comes in you're on your investments for awhile but the long term track I think that's good for the market because. Again if if you talk about addressing income inequality right that that's the platform for the the Democrats. Well nobody's done more to address income inequality than Donald Trump when you look at the Bill Weir the wage growth has been during his administration. What's going to be really interesting in this this is one of those areas where I hope I'm actually wrong. If you see significant inflation. No one wins it's the inflation is pretty much economic death. For an economy you go back. You look at the 1970s which is the last time that we had any meaningful inflation. In the 1970s. Stocks lost money. Bonds lost money. Real purchasing power real wages lost money like littered. It is the only things that made money if if you owned a bunch of gold back in the 1970s you want some real state yeah those were good -- long term place for you but everything else gets absolutely smoked and inflationary environment which is why I hope I'm wrong. That the data here I come back to you got a stronger dollar weaker global economy in oil prices down and we still inflation at 2%. What the heck happens if you get a dollar weakness at any point if China recovers and if oil prices keep moving up. Well how does trying to recover if we don't take the tariffs. Mean you look at the you referenced the slowing global economy. And you know the bricks that situation doesn't seem to be getting resolved any time so no it does not. China are our trade war with China the president came out yesterday it said look. We're we're ready keep these tariffs on a lot longer than anybody thought. Yeah here's by yeah question for you. Eight and at this actually might poll question for the audience is. You know that the terrorists are obviously having very dampening effect on global treat. And nobody's being impacted to a greater degree than China negatively impacted than in China. Do you think he made a mistake in retrospect do you think he made a mistake. By not raising those terrorists 25% because I get the impression from the Chinese. They're dragging their feet there waiting to see if he wins the next election before they do a darn thing. I lose what are your what are your thoughts on that. From a purely negotiating standpoint. Here's brochure created but also just put the hammer down. You know like I think the 10% tariff scheme gave and the flu and I think it is 25% tariff would have been the death penalty error prison. She. You know it's interesting I think if you talk about you know bumping tariffs up that much. You you know we talk about what the what boo what we've seen from Chinese retaliation at this point where beer they they stop buying soybeans for a little while they stop buying US oil. If you increase again I think you start to get into the really nasty things which look it in order to get the deal you want maybe you have to get to that point. But. When if you're talking about bumping goes up further at that point you start talking about you want devaluation you start talking. You know about all kinds of things that China can do to it. Really just completely negate the the effect of those tariffs of trying to consensus hookers can print a bunch of money to get around you know these tariffs it's it's not like you can. Stop them. Well by it there's different perspectives on this topic but my news. That the president made a mistake by not increasing tariffs on Chinese goods to 25% you supposed to do in December. And he blinked in my opinion. Like to know your opinion tonight can participate in our poll by visiting our website its financial exchange showed dot com it's a complicated topic can you wanna text us. Our text number is 63566. Did president trump make a mistake. By not increasing tariffs on the Chinese to 25%. Financial exchange showed dot com we'll talk about it when we return. Mean this there's the charts graphs and numbers all day and just listen to us it's the financial exchange with Barry Armstrong and chuck sun up on the financial exchange radio network. 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And the programs that are available power very helpful so we Europe preferred as you wonder what that means is that. We can quickly make decisions and under rates small business loans and house. Andy to be used for right purposes for small business owners gives an example. Well one example that recently happened was there was a restaurant and Hebert from that was growing very rapidly they are always full occupancy. And the space next Jordan became available and so they wanted to. Take on that space needs capital to sort build out. The rest Ron and you know was about a 300000 dollar loan. About it how many years did 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 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 each member Sandra SIPC and 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 text club tell us what you think 24/7. Right here on the financial exchange radio network. It we open and. If you think you're having a bad day take a look at shares in Biogen maybe you are having a bad day because you happen to own shares in Biogen. Some of a gunshot. Biogen shares which at believe they're headquartered where they may meaner nastier mass Ebert took it. They're down 87. Dollars a share or 27%. And this is a very bad book that they announced this morning. What do you think makes it's so bad. Well for years we thought they Biogen. And found the cure alzheimer's and that inflate clearly that inflated the value of their stock quite dramatically. And they had this. You know lot of pharmaceutical companies who exercise was called utility study. Where they'll bring in scientists from the outside to look at the progress being made by the Biogen side scientists yet. And that's what occurred here in this outsiders it you guys are barking up the wrong tree. In everything you're doing is not gonna work so by Nugent had invested chart. Hundreds of millions of billions of dollars in this plaque theory. And it doesn't work and they announce at this morning at the old blog on the whole project. Yep and and what they're not the only ones who spent money going down this rabbit hole we define that you know it's not working there have been a number of companies that pretty much you look at just about every major pharmaceutical company right now that's out there. Just all from the pulled their funding for alzheimer's research. But it's it's it's one of those problems that to be honest and when when I look at the people who are doing research on drug development. These are generally some of the smartest people on the planet. You know these scientists are well educated scientists easier you're talking people with multiple Ph.D.s in some cases that are working on these problems when they tell you they can't figure something out. Eat it really means something you delegates he's not people who give up Beasley these are people who spend 203040 years of their lives. Dedicated to like this this small little piece note of Madison. In when they tell you hey we're giving up. That's good but. Chuck when I look at the stock price decline. In Biogen. It tells me that perhaps they were acting in deceptive faction in what I mean by that is. You know for years they were open their chest saying yep were on the verge of cure. And in and they told that Wall Street and Wall Street I think baked that into their stock price. And as a consequence. Now when they come out and they say yeah we we we we were we were wrong we we don't have a cure for alzheimer's. You know that started stock and that was the last time you saw stock down 27% today well besides snapped. I expected to keep this in context you know that this was a drug that had gone through a successful phase two trial. So it's it's it's not Biogen who was telling you this big losers this was an FDA regulated trial they went through. That met all via the end points that they were trying to get through so it's it's not just Biogen coming out and making stuff up and thrown against the wall and seeing what sticks. Yes I don't think ever once said. They had a successful phase two trial honestly that that look pretty good and now it turns out that it it doesn't and you know it's it's just a case where. You know the button they'd be big simply don't have an answer on this at this point now do I think back to deceptively. Really a mean look like of the earlier date it was showing exactly what they were talking about. So I don't think that they were off bail off base there and cut it it's obviously have a big move but I think part of that is just because. There's no one else who was even in the game just like right you look at it and in the thought is hey if they could get this right. There's not even any competition in this market they they don't the entire thing. I get it to me and he had just I'm disappointed in the market cap decline in EU EU you're talking about what went out and 2030 million dollars with their billion. Dollar for the value this company is a large company is now we have a 4445. Billion dollar company 24 hours ago it was you know 65 that can. Yeah I mean look there's there's a lot of money being lost their today. There's no doubt about it but I mean like this is what you see in Biotech so I guess and you think this is now out ally in the Biotech here not usually with ones this big. Right but it's you know I mean that the Biotech world especially when you're talking economy starts to small caps. Tech 50% kind of a normal day unlike you big announcement you know. It's it's a winner take all world who biased it's it's a different world I I can't get used to that kind of risk. Let your yelling and living where we live in the Boston area were surrounded by these people right news yes you looked. You you know people that work at Biogen you know people that work at these pharmaceutical companies. And you know they're they're just like you and me right there go to work every day and there are open it goes up but you know they'd daylight today. In a lot of people had their retirement and stock options and Biogen and that is when the smoke. Is the value lose. Deteriorating before or guys yeah you know it's it's it's sad story in multiple fronts and fortunately. So Levi is Levi's Jeans you Levi's Jeans dire. Oh lead jeans with mr. preference on neither. Neither neither lieutenant to a kind of obscure GAAP. You're GAAP and are you I don't know I guess where you are I think so I bought jeans and like six or seven years I think they're J. Crew program. I'm lucky boring guy. On the lead Baghdad now. I like Levi jeans. But a little bit later when we come back Google public today and tell you why. I'm not buying the stock today you know they're going public. Just like Q I can go out and buy that stock today on the initial public offering. I'm not doing it the symbol port by the way is LE VI. And it's gonna trade on the New York Stock Exchange I don't think the first trade is gone off I think it's gonna happen around while about thirty minutes. Who are gonna tell you when we return as to why. Didn't sign up this IPO. That's next on the Xbox. Like this on FaceBook and followers on Twitter. Show yeah breaking business news is always burst right here on the financial exchange radio network. That's the Xperia a great family friendly mountain when 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. 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Retirement something we all think about and I'll look forward to after years of hard work this month the Armstrong advisory group is offering a brand new guide called how to prepare for retirement contains information that can help you claim for a safe and prosperous retirement and it includes your own retirement readiness checklist call that 803934001. To get your free guide today or downloaded right now by visiting Armstrong advisory group dot com securities are protestors America incorporated member of the recipe seen advisory services are printer securities America advisors incorporated Barry Armstrong represented Armstrong advisory group the securities are two companies are unaffiliated. Time now for mostly watch a look at the market's performance so far today you don't Berrian jug right here on the financial exchange radio network. It's time now for Wall Street watch rock you've by leader bank of new homes are hitting the market rates are too. Dropping ten year treasury note at a 2.5 percent if you're first time home buyer. Joint leader bank for free seminar on Saturday April 6. And learn all you need to know about the mortgage process they're helpful loan officers walk you through the steps that you take to find and purchase your new home and new customers. Receive a 500 dollar coupon towards closing cost reserve your seat now at leader bank dot com slash RSVP or by calling 781. 641. 8600. Member FDIC. Equal housing lender and MLS number 449250. Subject to credit approval leader bank a step. I had taken a look around the markets today. Big sectors that are moving technology up one and a half percent relieve the big leader in the clubhouse today. Real estate also up about 1% with low rates that tends to help out their utilities moving up on that news is well. On the other side of things. Financials and healthcare both in negative territory the only two sectors in the S&P that are down right now in the big companies kind of leading the way up words. Connect brands micron technologies in Western Digital. All lined up north of 8% right now Biogen the big loser today down about 28%. Currently. And that is Wall Street watched presented by leader bank. So what do you make of this Levi Strauss IPO chuck I I I told Jack where their genes say yes. I still have an old Levi Strauss jeans jacket believers from the 1980s. But I'm not buying the stock. So here's my take on and I'm curious if yours is the same as mine. It's a cash grab and the management structure is not good. While you're taught duty when you say in management you mean the fact that. They're the family's still gonna control 60% of the voting shares. Meaning 99% of the voting shares and a so that it's kind of hard over you know if you wanna change the company you pretty much can't. So what are they get there early raising a hundred million dollars to make it's not like huge IPO will know soon here's what's interesting actually is if you look at the BI PO that they're doing here the companies can get value of about six point six billion dollars that's that's how the valuation ends up. Ticking through. A 161 million is going to be about a 600 million dollar IPO actually that they raised. But three quarters of that is going to fail we members returning yet so the naked terms of how much working capital they're gonna have. It's not that mine know and what are they in there with me you know they talk well by other companies. It it just it it seems to me like they they found an opportune time to lose the company. In order to cash out look at I don't have a problem with you know some would cashing out of investment has done well where relate. That's the that's what you want lake as an investor you want to be able to cash out. But we also have to kind of call a spade a spade when the family is receiving three quarters of the proceeds from this IPO now think that that's what it is. You get calls from clients that one by now I don't believe I've had a couple that have talked about lifts so in the seem more interested in ride sharing and jeans at this point. But I think and violations on lifter site to have their little Nadia aren't. Hey here's a company B they did two billion in revenue looks and they lost 900 million dollars so basically what that does in the business of doing. Is giving away free rides merit I was remark on how cheap it is they're subsidizing the the ride costs thank you. They should send them I'm gonna send them a thank you note but I'm not gonna buy this stuff. You could send any any of their venture capital firms he could send a nice thank you note saying thank you for the cheap ride to and from the airport here they just. Something's a I ordered it. And Italy that the Levi Strauss is ten times oversubscribed. And the list is going to be more than that. Late people are just going bonkers to violence yeah with they've already said that they are well past their quotas and everything. I'm curious how much higher they end up pushing this price and in their capital raise when it's also isn't on there. With their past that means they're gonna raise about 23 billion. With a doctor at least artists get not 23 billion but they're gonna be valued to treat at least in in I would be surprised we've seen over subscription like that that's breezy all that first day volatility where you know might be up 30% at one point and then you know sells off 20% in -- that's where you get into Canada nutty territory we're not quite sure what's going on. Speaking about nutty territory. Oil holy smokes oil is what sixty bucks a barrel. Yeah we are now north of sixty dollars a barrel for west Texas intermediate 603. Brent crude now up to 6815. And so you've seen that moving up as well. The the last time that we had oil prices this high we grew up pretty recently actually you only have to go back to. On November 12 there so to get back to the last time that we have prices this high prior to that. You know if you look at where prices had been through you know kind of the latter half of seventeen. In two leading eighteen. Yeah we are kind of between. 65 and 75 dollars a barrel that's where we are hanging out for about eighteen months. And then we had that dip down into we got as low as. Currently we got to like 42. Ish somewhere in that ballpark. Back in late December but so oil prices rallying almost 50% in the span. Of a few months now on this again the kind of thing that. When I look out there it you know and inflation. This the kind of thing that starts to get you nerves like look we're not gonna have will oil prices forever it's it's not some that sticking around for effort if it does is it's. It's kind of damned if you do damned if you don't at this point with the US economy if you have low oil prices it pulls a ton of money out of investment. If you have high oil prices you're really hurt consumers' pocketbooks more so its it's and we we kind of had this narrow band we need to tread in. With oil prices now for the US. But we're also now what twelve point one million barrels a day it with the largest producer and yeah it's is that the numbers in terms of production are just massive twelve point one is the latest. That is up over the last year from ten point four so one point seven million barrels a day an additional production. Has come on line at this point. And that's not with a real strong pricing that's not like when we had the ninety dollar oil this is that you know anywhere from forty 65. That that's kind of been arraigned today it would and we get as high as seventy on the west Texas. What last year we were actually 75 is the year we were in that range by the way one other fact that I will make you happy on this in terms of imports okay. Net imports of oil now we're 3.5. Million barrels day a year ago was five point five. How is that if we're producing twelve point one. And work burning about twenty. In terms of how much we we burn went to Wilson at I don't know the exact number did that sounds very ninety not funny yeah. So how can it be. The net imports of 3.5 420. Orally producing twelve point one I'm just donate the math doesn't work you know. Well I'm Tony from the CIA's. Report. That this is what they're saying so Reuters there including maybe what we import from scanners. When of this this is a net import number. So it's it you know it factors in the fact that we're exporting some oil as well I'll pull what were actually using domestically LC if I can grab some figures on the. Him both the advent of electric cars Munich there's going to be a lot less oil production or a loyal oil consumption mean you look at China's to a north electric buses. Community they're they're they're taking off gasoline and diesel buses by thousands. And replacing electric buses and that you wanna talk about reducing your consumption. That that's how you do it you know in your seat aboard more of that here domestically here in the in North America as well. A surge here here's what it is when it's also and and so part of this is just because when you actually. It's effectively when you look at what we what we use in oil. It's it's not really one to one comparison because we're not like you yelled fill your car with oil. You know as an example so an arms in terms of actual gasoline demand. Yeah he doesn't work out to twenty million barrels it's just. They they effectively equalize it and so some of the stuff gets produced off for other things like that. Yep you know even things you know Ellen G gets kind of factored into this so that's that's worthy discrepancy n.'s. Coming for a Thursday. When we come backward talked about roundup. Buyer in Monsanto. What is it ever looked like buyer made a mistake by buying Monsanto that's our next topic on the financial exchange. Does this and start talking to bill. Oh your portfolio includes the financial exchange with Barry Armstrong and chuck signed off on the financial exchange radio network. Work play for time is not an easy process there are many factors to consider such preparing for Medicare understand potential tax consequences for your investments in assigning a value to possible health care costs can be a bit like planning a Thanksgiving dinner in not shopping for all the right ingredients folks this Mike Armstrong if you're nearing retirement age he need to get our brand new free guide called how to prepare for retirement it contains a wide variety of information that can be critical to formulating a solid plan they'll help you maintain and protect your assets off forty need the freedom to enjoy later in life all right now an 803934001. That's 803934001. And asked for your free retirement guide today guide includes your very own retirement check policy can make sure you're hitting all the right boxes that number again is 803934001. -- you can download it right now and Armstrong advisory dot com. Securities are for two securities America incorporated members in SA BC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Proper state planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate claim is not a difficult process but it can be if you are working with an expert who can make sure that your plane is secure Todd let's -- host of the legal exchange radio show has a new guide out this month told the top estate claiming mistakes and if you don't read before you build your plan your putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or will as the only means of a state plan that is not advisable at all do you live in Massachusetts and are planning on moving to an estate tax free state if you are you'll still have to pay Massachusetts a state Texas these are just a few of the issues you could run into their took all right now 8668485699. Engage your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed -- John. That's the Xperia a great family friendly mountain when 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 Versteeg. 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 it's one of New Hampshire most accessible learned to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak. The latest info go to pats peak dot com that's pats peak dot job. Pats peak ski area and had occurred you have. Hampshire pats -- seven -- premier ski and -- -- -- is deep -- -- they'll -- a skiing and riding through march -- the -- -- -- punched -- event on Saturday march 16 -- lift tickets online -- -- calls for great deals on -- skiing and riding in March -- 1920 -- season -- -- sale in March for the best -- -- info -- -- -- -- dot com hi this is -- Armstrong and I've been doing business -- -- bank for many years it's not too late to get a great -- -- -- -- bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New -- a dedicated loan officer will work with -- every step of the -- and their local decision making music -- closing -- bank is the number one purchase -- 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 -- at some of the best rates -- call 8776917900. That's 8776917900. And get -- great rate -- home -- call now and -- -- 83 residential mortgage survival guide detailing the home buying process from pre approval to the -- 87769178900. Is the number to call or visit them online -- -- -- dot com. Member FDIC's equal housing lender ML customer for Portland to try zero are subject to credit approval leader bank a step ahead. It's our daily poll question at financial exchange showed Doug John. Vote your conscience there are just vote. Go to financial exchange oh god come and test away. As it relates to our poll question Rios opened the show with this topic that the president make a mistake by not increasing tariffs on Chinese goods to. 25%. I voted yes I think he made a mistake and if I say that based on the premises you know you're gonna start a fight could be better be willing to finish the flight. 42% of you agree with me 57%. Disagree you'd think that presses to the right thing it 10%. It's very you can go to the polls who stumbled over an hour Rican vote its financial exchange showed a comic Texas with your thoughts on that topic as well. 63566. We can debate about. Terrorists not much debate about buyer though it's looking bored war. Like they need a major strategic mistake in buying months it took. Yet and in their shares were down in almost 10% yesterday. And this was yeah we're we're. Talk about this Canada as this result going on. But the big thing is there was this a jury in San Francisco. That found that round up was quote a substantial factor. Not in triggering a grounds keepers non hodgkin's lymphoma. And pretty much the issue for buyer when it's all said and done on this is that they're almost 121000. Lawsuits that are out there. That will very similar to this one and so you know view you play out the string on the use any say look these are all potentially multimillion dollar awards here. They might have bought a company that has next to no value if that's the case or negative is it possible it it is depending on how big do you these awards are and how rapidly it all gets wrapped up. And so I said yesterday that you know the only solution I think the buyer can get to when it's all said and done in order to actually make this purchase the of not even look decent but just kind of worked just from a basic you know buying standpoint. That you're gonna have to have something similar to the master tobacco settlement agreement. It's it's going to have to look similar to that just because the cost are gonna be so high. It you can't pay the mall once it's it's gonna be something where it's a look they're gonna have to pay out. McCain's maybe hundreds of billions of dollars over twenty to thirty year period. Right right eight it's it's looking more boring and they have investors with what's ironic here chuck is. At the time of the acquisition. They have investors in the companies and what the heck do you do. You know why why are you buying this it this is a real problem and they completely disregarded those investors. Yet ensued. This is going to be a U lingering in the long term problem for buyer here and and part of it is because in part of the reason why they probably move forward is that. If you look at how different health authorities looked app roundup. They're still is no 100%. Consensus. You know anchor it's it's not something where every single health organization in the world is saying this is bad. Yes some that are saying hey it's in inclusive view of some that are saying no we think it is conclusively bad. You have a couple saying Kate's conclusively kind of bad but not that they. There's no consensus on any of it and that's that's probably why they went ahead with that. But juries don't have to juries to again especially in a civil suit. That the standard is lower than any criminal suit they're not looking for beyond the reasonable doubt they're looking for a preponderance of evidence in the civil suit. And Betsy drastically lower standard that was met in this case. And it's pretty tough to overturn a jury trials it is. Proper estate planning can be the difference between retiring comfortably or living out. You're days under incredible financial pressure creating an estate plan is not a difficult process. But it can be if you're not working with an expert who makes sure that your plan is secure popular ski he's the host of legal exchange radio show. As a new guide out this month called the top of state planning mistakes and if you don't read before you build your plan. Your putting your assets at risk and not to mention severe tax consequences. Even if you already have a plan. There's information in this guide that will help you corrected an issue that could come back to bite you. In the years to come as an example are you using a realty trust Horry will as the only means of an estate play. It's not advisable do you live in Massachusetts and are you planning on moving to a state tax free state like New Hampshire or Florida. If you are you'll still have to pay Massachusetts state taxes using those trust the using that to ever teach. These are just a few of the issues the could run into so called right now 8668485699. It's toll free 8668485699. Get your free guide. Called the top estate planning the state can also download the guide right now from their website legal exchange show. Dot com. I don't know if you heard the latest on the 737. Max story. Chuck but there are now you're listening to the recording in the black marks on the last jet that went down. The pilots were flipping through the main trying to figure out how to fix the problem. Yeah I mean it they were trying to again kind of deal with immunity initiative they had not necessarily seen before. And and certainly again I think the big thing for Boeing is going to be. They know how quickly can you get a fix in place and is that picks don't actually solve the problem you know. If they that this single worst thing that Boeing can do. Is say they have a fix in the and they don't notes at Boeing Boeing needs to realize that as much as there's an urgency to get these planes back in the air. If they say they have a fix and then another one goes down with the same problem. I hate you hesitate to say with bone that it's over then but like it's it's really bad then it's it's really bad. The MV the they're saying in New York Times is reporting. That you know the all that really needed to be done. Was a safety feature in all they installed the software but bowling was charging extra for that now they're not gonna charge extra how to owners. EU by and that they have been you know more about aviation and I do. The the it's as fairly simple software upgrade. That would have resolved to planes going. Well I don't know how simple it necessarily. Is a mean effectively they don't have now. Like the fact that they don't have a ready to go tells you it's not that simple so you know something that sounds he's when he's aliases to software upgrade. Then we'll look it's yes it is a software upgrade but. You need to make sure that when you solve one problem you don't inherently create another one on an airplane traveling 600 miles an hour six miles up. You know it's like okay we got to fix for this but doesn't affect anything else like. This is what I'm saying is if Boeing says OK we fix this problem and either they didn't where they ended up creating a new one with their fix and they don't know it. I think it's. That's not like that's what that is the single worst thing that could happen to them is them trying to rush this through right in getting it. Wrong are they charging for safety feature. Isolated due date they do that with all there and it's like buying a car we're we're urgency that I I didn't see that piece from New York Times. They were charging for I didn't see that sees teacher and a the the other question I have is why the FBI involved you know like that's another thing that as an investor I don't own shares of Boeing and you still load your share sharp. I do yes. They judges who. Which what are your thoughts at this whole FBI invesco likewise the FBI that if the FBI's investigation in investigating does that in news just some kind of criminal activity. What does its criminal probe DO JJ has started and so it did pretty much what they're looking for as as I gather. Is whether or not there was anything illegal from a securities perspective. As far as the approval of this whether it be you know was something you know that was done criminally. In order rush this through and gorgeous to get the plane you know approved and ready to to be sold and so forth. There's a unity talking about a very powerful company Boe in the employee. Tens of thousands of workers across the country is probably the one could argue that one of the most powerful companies in the country. I I think without a doubt there. Markets are opened summit on the Dow's up ninety points been awhile since we saw some green in essence he is up thirteen points the NASDAQ up 53 points. The Russell 2012. Point crude oil is trading at sixty dollars and twenty cents. Per barrel and gold is up. Nine dollars an ounce trading at thirteen eleven. Will be back with more on the front it should. 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 bank dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. That's the Xperia a great family friendly mountain when something for everyone including day and night skiing snowboarding snow tubing aired a special pop. Pay one price program on Saturday night had to pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboarding do things rentals lesson tips and entertainment that's because one of the largest nights in areas and all of northern New England fans when a New Hampshire most accessible learned 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 her New Hampshire. That's peak seven may have just premier ski and snowboard mount has a deep snow based O'Keefe a skiing and riding through march dumbest the fun that the punched him event on Saturday march 16 largest lift tickets online Apache doc called for great deals on midweek skiing and riding in March according 1920 Tony season passes are on sale in March for the best rate Italy's info go to pats peak dot com. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage meter bank specializes in a wide variety purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. And get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 8776917900. Is the number to call or visit them online at leader bank. Dot com member FDIC equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. The money matters radio network WB and W 11:20 AM and W 275 CMF. Austin the money matters radio network. Hi this is chuck and Mike from the financial exchange we're talking today about planning for retirement it's a big thing that you need to plan for. And really is the kind of thing that you only want to do once you don't want to have to un retire. Mike one of the things that people have to sort through is what's discussing a deal with the aged. Our am I retiring herb we both retiring here already retired. If your spouse is pulling in a whole bunch of income while you're retired it might not make sense to pull your Social Security right away so consider a bunch of factors but a big one is also life expectancy and that. Definitely comes into play with sort of security. In addition to Social Security another item that people have when it comes to retirement pensions. Is that the same type of conversation and same type the calculus the people need to go through certainly there's a lot of calculus there but there's oftentimes even bigger one with pensions and narrow bit more rare today which is. What sort of survivor benefit to a and the option to take a my pension. It's not always clear cuts and I would caution here really think about it especially if you have a younger spouse that might be survivor here. Our strong advisory group was put together and you guide this month it's titled planning for retirement in only have to do to get it is call 80393. 4001. Go to Armstrong advisory dot com. It's free to get and again that number is 80393. 4001. Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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Proper state planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate claim is not a difficult process but it can be if you are working with an expert who can make sure that your plane is secure Todd let's do host of the league to exchange radio show has a new guide out this month told the top estate claiming mistakes and if you don't read it before you build your plan your putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example are you using a realty trust or Willis the only means of a state plan that is not advisable at all do you live in Massachusetts and are planning on moving to an estate tax free state. If you are you'll still have to pay Massachusetts a state Texas these are just a few of the issues you could run into their took all right now 8668485699. And get your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed Dodd John. Hi this is Rachel from Shawnee peak in beautiful Princeton man. Joni peak profits forty is a perfect trails or boasting gorgeous views of the presidential mountains. And lakes region of name comes skiing entreaties we offered stiff and related areas to play and and freight train tracks that range from good enough streets acre feet. Did you notice Johnny deep pockets mean most nights being in New England. Nineteen about sales and that 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 ride programs to get used and you crew on the snow and having fun ski all day and into the night to make plans now it's Johnny. Call Johnny peak has plenty of snow outstanding skiing and riding conditions in a march plan that you will surely remember. This is Charlie peacock call for all in both events in our pristine schedule. Wizards pulled. A lot of time energy and effort gets put into creating in the state plan that is secure and financially sound but there are plenty of mistakes that people make during this process anyone of which could have a dramatic and damaging effect on your financial future Cushing in Dolan has a new guy know this month called the top estate planning mistakes you'll learn how to avoid these critical errors and help to ensure the duress that's will always be protected if you created a trust more than ten years ago and haven't updated it since you better get on the phone and set up a meeting with your estate planning attorney don't assume that your trust has been funded if it hasn't they're going to be subject to grave consequences when your spouse passes away call right now 8668485699. And get this brand new free guide the top estate planning mistakes from time muskie of Cushing in Dolan that's 8668485699. Don't make the estate planning process any harder than it has to be avoid mistakes that can decimate you financially if you are careful colleague 668485699. Or downloaded right now from our website legal exchange showed dot com. And I. This is the financial exchange with Barry Armstrong and jokes are about. You're exclusive look at business and financial news affecting your day your city. A world and stay informed and up today about economic and market trends plus get breaking business news and really dead it's. And now the financial exchange with Barry Armstrong and sharks done us. Bad news is good news until it becomes bad news again and then it becomes good news. The Dow is up a 166. Points and I'm trying to figure out why I. Think it's because the Federal Reserve. Has said yeah we're not gonna raise interest rates anymore as a matter of fact a lot of economists are suggesting. The next rate move but it will be eight downward. Who. I say if you're not confused with all that information that you're not paying closer attention hi everybody it's very truck with you here and that bad news is good news and then it's bad news and its good news that that's kind of Wear matte to come by for the life activities. So the big and I'm seeing that's kind of yanking everything up is apple for whatever reason is up three and a half percent today. And I I don't know why but it's up three and a half percent in your thoughts earbuds. And and and that's earbuds are lifting the market that's that's what we've gotten to at this point Apple's up three and a half percent because of wireless earbuds. Actually at their news product is it may have something I don't know if you guys looked at that are not yet. But Tucker this may be something you know Tucker does a lot of research for show. And I think I'm gonna buy you subscription but this talker because toga it's it's going to be ten bucks a month right. And it's by my annual subscription to the Wall Street Journal's 500 bucks. It's going to be like quarter of my price for the Wall Street Journal and only get the Wall Street Journal include. Comic sense you know right since you don't think something there doesn't make sense. Like that there's something there that doesn't make sense and MI wrong on this. And I'd like it just. How what the UE. You don't go and that's how I feel but the Fed rate the Fed is saying we're not raising interest rates because the economy slowing down but investors are plowing into stocks. And you got to rally going on. Yet now is that in 2007201986. That it's actually saw fascinating stat this morning get this great. This this this one will scare the Dickens patio so this one. So he's using my words now I Tucker I know I know if I talked your language you listen so here's the thing so historically. Publicly traded companies have always traded at a premium to privately held ones if you look at the multiples paid for them and acquisitions okay. Except for three instances in the last fifty years. Early 19872008. And now. They used it I'm not saying but I'm just saying so. It's just it's an interesting stat it's like it's one of those recently ago. Hope what does that mean it means that for whatever reason private investors right now are paying more than public investors are. I don't know why that's necessarily a bad thing but it is. Well Lou Lucy whose time will tell. We have a poll question today. And it's related to president trump in the tariffs. Yesterday. The president said yeah I think these terrorists are probably going to be you know along to be around a long time if not permanent. And that sent stocks tumbling down a couple hundred points after those comments. Many of us they out put myself in this camp. Feel that the president made a mistake. By not increasing tariffs on Chinese goods to 25% he would've done that back in December according to his original eat. I I think it was a mistake to not raise the need if we gonna get this plate you better be prepared to finish that despite. And 34% of you agree with me that he made a mistake 65% disagree and a think that he didn't make mistake we could participate in our poll by visiting her website its financial exchange showed dot com. Or. You can in Texas with your thoughts on that topic or text number 63566. We've talked about bricks and a couple days and it's I don't know that there's anything Mort update other than. Teresa mate is requesting a three month bricks it extension their supposed to bricks that by the end of march correct. Yes march 29 is the current deadline so we are now. Eight days away from said deadline. And Teresa may in the UK have request a three month extension to June 30. And so the big thing is that the EU now is saying. We weren't really sure that we wanna do this because what's actually gonna change ears pretty much saying look we've given you our best offer its on the table take it or leave it. May is saying what I need three months to go negotiate with the EU. And the use saying no you eat it in order don't negotiate in order to get this extension you need to prove that you won't pass the deal that we gave you. That she can't pass correction the votes she can't and it's it's it it is such a mess at this point as far is where. British politics stand today just because you have. Absolutely no consensus on what should be done. It's it's just it's a case were just no one wants to take ownership of the situation. In any meaningful way even mayor who's you know. Put this deal on the table. It's like she's kind of like this deals kind of a mass it's it's not what it's supposed to be but it's the best we're gonna get. So would win the EU differed paths that this thing can go to like where. EE EER one of our analyst Dick Bennett Davison expect oral yesterday on what could possibly happen with us. Yeah I guess one is you know leave the they they can just per exit door hard for exit next week. Yep if if if they don't get an extension that gave the extension isn't approved by both the both parliament and EU. They by defaults crash out of the EU 1 march 29 with no deal mean to what they do first things like food and medicine they have no idea. They have they have no idea at all because there's no there's no process that set up to to handle customs coming in and out of the EU there's nothing. So they'd. They're literally talking that they might just have trucks lined up on docs that couldn't import or export goods. Another option which isn't good for France side right France and Germany get hurt by that scenario it. They get hurt the most via an in terms of other countries meaning even the US to a certain extent feels a little bit of that. Pitcher and give that so that's that's one thing Beckett. You can also have. They could in theory okay par make you come back and say you know what on third thought we're going to accept your deal that you put on the table. Except. The was it the speaker of the house over in parliament. Has come out and citing an obscure law that dates back 400 years has said you can't bring this to the table a third time. So may it may in theory is not allowed to bring that deal back to parliament without significant changes to that complicates matters a little. What else can can you do. The EU and Parma could in theory BO except this short delays to get a ninety day. Delay on this how all happening where who knows that goes on the and or in theory. You can have both the EU and UK say you know what let's do a longer delay may be of two years or something like that in in that maybe we have a whole new referendum. And we decide whether or not we actually wanna go through with this. So what are the odds makers bulletin date that actually sounds like the most. Realistic. Proposal rightness it's snowing we see here I'm I'm pulled out need. Pulled my elated that predicted no I don't like predicted for stuff like this so actually go to the British bookie who tend to be a little better on this. It's. It's it's where you go through this information it's it's it's really good information is not a better than a British bookie let me see oh did they just. I think our I think our firewall might have bought it they blocked it and it's and I don't know if the whoops I. Now here Rio now I got okay. So let's see if we are looking at Briggs it right now the UK to leave EU with no breaks the deal is going off at three to one. So that's saying there's about a 13 chance that that's what happens. You have. Will let's see what this one is the UK will the UK you leave the EU. By the end of next week it's going off at ten to three so again kind of with 30% chance somewhere in that ballpark. Where else we have will Teresa may still be prime minister. And all April 1. That right now was going off at one to 25 is saying that she's not really going anywhere for a what L in the short term in the short term at least yup. I'm trying to see what else we have out here that is morneau at the yards are and and of the year for tourism. The well it's not so much the end the year Tucker uses twelve months from the Los not confidence vote. Also I do have Windiz Teresa may end up. You know kind of walking away from her position. And it looks like if you're a betting person. The odds are by 2020s. Going off at nine to two right now. So it looks like 2019 is actually looks like. May have may have night senior leaders when she's expected to leave based on the betting. It's. Like she noticed her hands up in the air call quotes that I when I was. I I wouldn't what if I were her I would just say how this next actually short I don't believe us now. Any family that. Exactly. It's actually rather I I saw there was I forget who was but it was another British politician last week. Who said that Mays handling of the brakes and issue was the worst failing in British leadership since the American revolution. Coach Smith thing at. I act and like I fight British politics it's fascinating because they're very polite but also very direct only you know as the Buick. Oh well if you were such an idiot you wouldn't have done you know it's like. You're right about that you know what you are right about that. Our rate coming up we're gonna have a trivia question for you and Ross going to be talking about. High end real estate in Jumbo mortgages that's next and to exchange. Shrapnel tore him. Everything business and finance it's the financial exchange with Barry Armstrong and chunks are on the financial exchange rate he'll never. Work play for time is not an easy process there are many factors to consider such as preparing for Medicare understand potential tax consequences for your investments in assigning a value to possible health care costs can be a bit like planning a Thanksgiving dinner in not shopping for all the right ingredients folks this Mike Armstrong if you're nearing retirement age he need to get our brand new free guide called how to prepare for retirement it contains a wide variety of information that can be critical to formulating a solid plan they'll help you maintain and protect your assets off forty neither freedom to enjoy later in life all right now at 803934001. That's 803934001. And ask for your free retirement guide today guide includes your very own retirement check policy can make sure you're hitting all the right boxes that number again is 803934001. -- you can download it right now and Armstrong advisory dot com. Securities offered to securities America incorporated members in SA BC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Proper estate planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating and a state plan is not a difficult process but it can be if you are working with an expert who can make sure that your plane is secure Todd let's do host of the league to exchange radio show has a new guide at this month told the top estate claiming mistakes and if you don't read it before you build your plan your putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example are using a realty trust or Willis the only means of a state plan that is not advisable at all do you live in Massachusetts and are planning on moving to an estate tax free state. If you are you'll still have to pay Massachusetts a state Texas these are just a few of the issues you could run into their took all right now 8668485699. And get your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed Dodd John. It's 6 AM clear as a bell and winter quiet I'm watching my breath turn to steam. If I turn left out of the driveway there's a mountain of paperwork on my desk if I turn right there's a mountainous snow at loon. I named turning bright and work we'll still be there tomorrow. Stick your lutes 40192020. Season pass out during the spring sale by now and use it for the rest of the winter choosing your test at loon and TN. Dot com. Play for time is not an easy process there are many factors to consider such preparing for Medicare understand potential tax consequences for their investments in assigning a value to possible health care costs can be a bit like planning a Thanksgiving dinner not shopping from the right agree it's folks this Mike Armstrong and if you're nearing retirement age he need to get our brand new free guide called how to prepare for retirement it contains a wide variety of information that can be critical to formulating a solid plan they'll help you maintain and protect your assets while affording you the freedom to enjoy later in life call right now at 803934001. That's 803934001. And ask for your free retirement guide today to guide includes your very own retirement check policy can make sure you're hitting all the right boxes that number again is 803934001. You can download it right now and Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated. Went into the secretive scheme it's that you don't have to be if he's going to raise ski resorts secret or freak people. Kramer has into action on and off the flip. But the State's number when snow tubing park. Mountain coaster ride plus giant SpinRite in a police the theme more than England like music and treat the injury. Comfy like fan where was that is one of the best resorts in this state fair off election. Get these hills and playing your trip that create more dot com. The financial exchanges. Is all overrule then 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. The first trades in Levi Strauss have gone off and it's currently trading up about 33%. At 22 dollars which is probably what most individual investors are gonna and a pain right track and if you want it to. You if you said if you unless you had like twenty million dollar count Goldman. Your probably the look and shares. In the IPO like 20/20 two. Yeah you you're you're buying in probably in that range right now so unfortunately for most investors that's where you and it happened to paid. But yeah looks like any good at least start to the IPO for Levi's at this point. See guys do and any work today or tomorrow and I didn't thinks it's warm and apple at 1215 a wood what you mean by work. To define the series are you going to be doing investment research and calling clients. Between. 1215 in Peru with his last game off. Yes so today will be I I scheduled wrong this year and so I. I'm actually sleep center at your perspective I'm I'm I'm actually slammed today so come on it's it's it's not ideal duke tomorrow I have a much more open calendar. But today it's it's not pretty. Are well. We we're playing trivia based on March Madness and today marks the first official day of March Madness which will be the topic for trivia. Which school won ten out of twelve titles from 1964. Until 1975. You know the answer to that question. Text it to us 63566. Is our text number. If you haven't played before my first name before you type in the number it's buried PA RR wise. And I guess we'll go with. The tenth listener with the correct answer. Which school won ten out of twelve titles. In March Madness between the years 1964. And 1975. Don't forget or text number 63566. Jumbo mortgages slowing down. This is a function of change in the tax law and I think just the change in consumer behavior track. Yeah I think it's. I also think that in general the of the fact the US and we listen in the stock market in the second half last year that hurt the of these types of purchases as well. And do they got played in. I I I. Perhaps but I think the bigger contributors are. Declining birth rates. And changes in the tax he can't deduct the two million dollar each hit deduct the million dollar mortgage for interest rate purposes and yet it deduct. Property taxes greater than 101000 dollars a year. That right there I've I've you know I tried to sell one of these old mansion last year and leading get away. They agreed that we we get it on the market for six months in did not get so much as one offer. Want and I'll show you just an anecdotal piece that I saw the other day. I was driving through. A town just next to mine actually and solid that you know that is cited Sydney a price cut on him personally. The last five years you haven't seen any homes it's a price cut you know on the sign near the house. So Alonso and I was curious is Mike is an east on regulate the live here. And go home was going for one point three million dollars. And that was it okay yeah we're not talking about cheap house. But I pulled through the zillow stuff and I'd wanted to see how big the price can actually was in it turns out over the last year. This home was originally priced at two point one million dollars is now down to one point three. And what are the property taxes to 28000. Dollars she nobody wants that no weeds of the because you you can't deduct at all but I just I founded. Just fascinating. That you seem you've seen that big of a decline. On that type of property now. This one was kind of a unique case because again it was this old construction from like the seventeen hundreds to a certain extent so. Thank you it was it was a project like it was it was an expensive projects you know this is it's not just a standard you know built ten years ago house but I found it interesting just when I was looking at just some like. Man that's a big part like you haven't seen stuff like that no why he'll. 22. To. Bolster your point home sales for the top 5% of the real estate market fell 10%. While sales overall state essentially flat. So we are still buying houses rightly be is that affected the lower under Bynum faster than ever it's that upper Echelon that top. 5% those million dollar two million dollar five million dollar houses. Where people are saying. Hey hey you know I gotta I gotta that the price I saw one. It went the price went from 2.4 million. Down to it becomes one point three million about a mile away from my house. It's it's it's it's humbling. And that's that market that's getting hit is that anything from one to three million I think he's just getting slammed. If you're buying you know who's the guy we're told me yesterday about the 250 million dollar Condo in New York Griffin. Griffin doesn't care you know garbage like OK don't get the deduction wonderful. Not everyone has that kind of well obviously in it's it's the people that. I think want to show that they have a lot of wealth but don't quite have it. They're the ones that are buying you know a lot of those those million plus dollar home saying only I'll buy this with a big mortgage. Now that's those are the people that are unable to buy right now if you've got a billion dollars and you don't hear it does it. You don't care about the property tax deduction but if you're making really good money you're making 300 grand a year. But you don't have anything saved in need of mortgage and then you care about the property tax deduction. Well aid any if you do it better than they it's they make it seven under current year but you only two kids like gonna go buy a five bedroom house is old school. Yeah but you know you're never gonna built right McKnight I bought big houses because I got five damn kids right so. He like I had no choice but to have a house to another reason why I'm choosing not to have kids yet. What does that I don't have to worry about big houses rooms in the bathrooms. Tucker each refer to your children is damn kitchen nine yet. The idea you know how the the still very young they're darn kids he stole a little cherub with you know. So adorable sweet I heard night merit you don't want to turn to us on them so though Boise Tucker looks like they're go notes mean sixteen. No boys and boys become a problem when they're 1614. Mentally. So we'll look forward to that the new paid apple news service said to feature the Wall Street Journal. But not the New York Times and knocked the Washington Post. So I don't quite get how this is gonna work for the Wall Street Journal says the deal is if it's a hell of a deal so. Apple gets half hour news is gonna cost ten dollars a month and Apple's supposedly is wanting a 50%. Cut of all the revenue. Now the enduring. Yet and I pay five bucks a year yeah Wall Street Journal journal's forty dollars a month right now so. Why would someone just not get rid of the Wall Street Journal subscription. And pick this up that's what I'm doing. They could I would I don't look don't look well put but here is the thing is I'll tell you here's here's one of the reasons why. You can't get the Wall Street Journal just on the Wall Street Journal website that. You have to go through the okay which means it. Tucker Gibson but the tougher Tucker I think it's a thirty bucks a month Bob Thompson took over apple. Tucker scarce because they're gonna have other news sources like the times in the post turned down. But you know they're gonna get all kinds of other news source services. Time we're gonna talk more about this when we return we'll also have the answer in the winter. Torture being questioned it just. The financial exchanges alive on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Proper state planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate plan is not a difficult process but it can be if you are working with an expert who can make sure that your plane is secure Todd let's do host of the legal exchange radio show has a new guide out this month told the top estate claiming mistakes and if you don't read before you build your plan your putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guide to what you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or Willis the only means of a state plan that is not advisable at all do live in Massachusetts and are planning on moving to an estate tax free state. If you are you'll still have to pay Massachusetts a state taxes these are just a few of the issues you could run into their took all right now 8668485699. Engage your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed Dodd John. In medieval times sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Used to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Play for time is not an easy process there are many factors to consider such preparing for Medicare understand potential tax consequences from here investments in assigning a value to possible health care costs can be a bit like planning a Thanksgiving dinner -- not shopping for all the right ingredients folks this Mike Armstrong if you're nearing retirement age he need to get our brand new free guide called how to prepare for retirement it contains a wide variety of information that can be critical to formulating a solid plan they'll help you maintain and protect your assets while affording you the freedom to enjoy later in life all right now at 803934001. That's 803934001. And asked for your free retirement guide today to guide includes your very own retirement check policy can make sure you're hitting all the right boxes that number again is 803934001. You can download it right now and Armstrong advisory dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's 6 AM you don't meet your form. Doesn't matter my buddy knows the drill anyway because we do this every chance we get. Like cute Christmas he's going to be the window skis at the door hot cup of coffee in hand if you dream just in time for first tracks of Linux. Thanks to nearly fourteen feet of snow this winter literally is wide open look over 360 acres of skiing across rebound he. You split tickets start at 69 dollars only and do the NTN dot com. I folks this is Mike Armstrong and I'm joined stay by estate planning attorney top lot ski with your financial exchange quick tip of the day. Today were talking about the top estate planning mistakes that you need to avoid you know Todd so many people create their state plan but they then failed to fund it. Explain why it is such a big mistake in what we mean by you know not quite funding your state yeah its it's really huge and you've got to look at it from two points of view one. You're spending money after spending money. To put together an estate plan to want to work your right and if you don't put assets in your trust that you create its not working. In two very important respects. One if you have a revoke Coble trust. And you don't fund it. Well then of course you're not avoiding probate because all the assets would be your name that's a big problem too. That language in that trust is what it's designed to help reduce estate taxes when one spouse dies. It shelters assets in and utilizes exemptions. There's nothing in there. It's not helping you do that nothing shelter so that that's not a good idea and from an irrevocable Medicaid point of view if you want it if you're in case you're concerned about doing that kind of planning can you imagine not funding those trusts. Not only do you have all the same problems that we just mentioned with a revoke double trust but one very important problem you never started your five year waiting period. And so if you create an irrevocable trust don't put assets in in five years goes by and you think your assets are protected from the nursing home. They're not. You better fund trusts you better and it's something that they you know. They see all the time folks starting these escape plans for not buying them talk about ski in the estate planning experts at Cushing and Dolan. Have written a brand new guide that details the top estate planning mistakes that you want to avoid you can request this brand new guy by calling 866848. 5699. That number again is 866848. 5699. But he can also visit legal exchange showed dot com. And download the guide right now again that website is legal exchange show dot com. You might not be able to keep up with all the latest business and finance news but we can't fix the financial exchange with Barry Armstrong and chuck soda on the financial exchange radio network. He ought to talk about it dynasties coached by hall of Famer John Wooden. The UCLA won seven straight titles from 1967. Until 1973. They also went undefeated. Four times in that twelve. Years spanned. I mean they haven't juggernaut of a basketball program to ten out of twelve titles in that to appear period of time. Really that Kareem Abdul Jabbar for about half of that and golf for years. A big chunk you know we will go out and about half the third it's a big chunk. Board you know Korean Korean covers up a lot of other faults in 1960s basketball. Bill from infield. Was the winner on this and bill takes on a fifty dollar gas card with tree being brought to you. By the Armstrong advisory group call 803934001. Incident your free no obligation consultation. Today. Greatest dynasty in sports. I know I'd make the case that what the New England Patriots have done the last twenty years is greater just because they're much more competitive sport much more competitive field and much more competitive time. It. So back this apple news service eighties the Aggies beat this is impacting their stock at all but it had a. Not really is like it's it just I don't see being beat up to move the needle like that like you look at this in terms of Apple Stock today in Apple Stock is added ten billion dollars of value. Today soda does that say okay. Is this the kind of being that he's going to add. Is the way apple trades from a valuation standpoint treats about three times revenue that's the of three to four times somewhere in that ballpark. So I look at this nice okay is this gonna add three to four billion dollars in revenue to apple each year. Any times you know they were giving a mile down the road but not anytime immediately. And on top of this I look at it I'm just I'm trying to figure out. What the Wall Street Journal sees in this. With such as the Wall Street Journal which I just the big one that's the biggest brand name leaked out there going to be. Dozens of other newspapers. That jump into it night here's my theory on the Wall Street Journal. I think what they're looking guys are saying okay yeah we're gonna be given away the farm in rural we're gonna lose guys like Barry they're not at a pace 500 bucks you know more. But they're gonna pick up a young girl millions and millions of other subscribers. That it read the commercials in the walls feature. And let me tell you that is the death knell for any company that bills itself as a premium product. You know if that would be like if Ferrari said you know what. We're gonna offer an electric car like the Prius now you make. That is the death knell for any type of premium or exclusive brand or anything like that like. The second would. They know that we don't know what are they don't they because they are so that's right right into the I consider the Wall Street Journal to be ethical standard rate believe they utterly guys but that's the first thing I've read. Since I was 1970. That's how long I've been a subscriber to bolstered her. Yeah. I don't know what they're seeing but I think that they're seeing something because you don't make a decision like this yet again that the subscription apple news. It's gonna cost ten dollars a month. Apple is saying that they want a 50%. Cut of that its subscription. What's left for the Wall Street Journal is that ten a month that's not for the Wall Street Journal that's for apple news as a whole so how much is the journal getting out. Three dollars two dollars if that right so you sit there and you like. Why are they willing to take a 90% discount on what it normally costs well maybe maybe create New York Times has it wrong in the reporting on this. That's possible. It could that would I don't know I understood to be this way it wasn't that you're gonna pay ten a month for the journal delegate I guess I'm just. And I'm not sure what's going on here in terms of how this is going to be a good thing. Foreign news outlets it just the I don't quite get it. Unless here's the the only way I think it could make sense. Is if they think they're gonna get so many more eyeballs. That their ad rates can go through the roof let's put it just said but why are the eyeballs just gonna be on the journal. Because it's good news it's as it gets. Really good report but the most people don't think there's a reason why the journals not the most subscribe newspaper in the world it's not for most people. Well now you know and that's why they're doing is done. Well I know but if if you're claiming that you're gonna have eyeballs but you have a different target audience. Does the person who's reading people are us weekly care about ETFs in what ETFs have the best cost or some other journal does better jobs. Turkey getting Christopher's is sort of their editorials are very good. He might. The good journalism and advertising. I'm talking about their like there's advertising. If you're selling ads in the Wall Street Journal right now. Yeah are you selling them based on you know acne solutions. And but that's what you're gonna be lumped in with an apple news. And so it's just like what are you selling who you sell it to. I had a role will find out today I just today but I gave first glance. I am a attracted to the offering and I would buy. But while I'm attracted to a from the perspective hey if I get the Wall Street Journal 90% off. Great I just I'm trying to figure out what the Wall Street Journal season it because. They I just look at the history of companies have gone down market specifically that significantly. It is not a particularly good history you know like you if you have a premium product usually don't sell it 90% off. Rupert Murdoch still on the journal. A un thinks. He does. Think so he does. Put a OK yes he does. Do you know what kind of lifestyle you wanna have when you retire well if you want it to be an enjoyable one you need the Armstrong advisor group brand new guide called how to prepare for retirement. I know that the retirement planning process is not easy that's why my new guy provides you with critical information about how to build your plan it'll help you understand. Win to take your Social Security benefits get ready for Medicare and perhaps most importantly it will offer you advice on how to protect yourself. But he's leaving large portions of your assets to Uncle Sam. Called right now 803934. Zeros or one and receive your free guide today. We can also say you marine no obligation consultation to review your portfolio. And help you'd decide if changes are necessary before you retire. Get the guy today by dialing 803934001. Or if you want it right now simply download from our website Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. So Turkey still seeing billboards around for Amazon warehouse workers. I have been out the way that where they were previously I'll tell you when I was down in Florida over the weekend you saw all kinds of stuff like that. All kinds of stuff. I think they are finally running in to the scene. Union issues are there about two that they branding tool in Germany in Hamburg Germany is the German unions you talk about. You know real tough unions. Germany has some of the toughest unions on the planet yet and now workers down in Staten Island are start to say. Hey do we are being treated unfairly and Amazon. The EU wanna talk about an issue that it really challenging Amazon in terms of their growth their stock and their ability to deliver these consumer products you know at bargain prices. At the unions big contributor. They aren't so you've got this this union that's trying to organize workers down at this Staten Island warehouse and pretty much. They have now launched a formal complaint with the NLRB. On behalf of this employee who has accused the company of firing him after he spoke out about difficult working conditions there. And so. This is something that as you mention Amazon largely has been able to steer clear of union problems in the United States at least overseas they've clearly had issues as you mentioned. But in the US they they pretty much kept unions out of bear their service there at their warehouses just about entirely. And so this is something that. They damp and had a problem with this point. But it's it sure seems like and again. This self always tends to happen in good economies right because. You know it's it's it's not the kind of stuff that pops up whatever worn scrap it around just looking for jobs that kind of stuff that pops up. You know when someone feels hey you know your me you're getting good money and I'm not what's going on here. That's our. That's right and I think that workers are saying hey these working conditions are a little too rigorous you know you're making us were too many hours and you know the DTV. Amazon's had situations or where they sent to the workers you must work sixty hours a week. Well you know what would it be got daycare issues in Indian family obligations or what do your health because you work and an Amazon warehouse. Tell you what if you're not in shape when you go to work there you will be after you've been there for years. Yeah I mean they've they've done a lot of studies. That I think you've shown that give the average worker in this warehouses walk and I think anywhere from seven to ten miles day depending on the warehoused. And obviously you're not just walking there you broke him Walken and either be appalled something on a cart around picking stuff up wall Walken. You know it's it's in intensive job now they've improved some of that with robotics in order to make it a little bit easier kind of augmenting. The staff there. But it definitely is not in easy job it's not one where. There not cynic comfy chair talking on the radio for two hours like Aussie notes that a little more complicated than. I talked to a client out in Arizona and she went to work it what do those warehouses she lost thirty pounds six months. Agile of that June issue of the few photos Greg Little tuneup for the summer you know eight. They would we come back we're to talk about some popular pick up trucks that are getting. Very poor marks in terms of their crash test ratings that's next on an X exchange. Every -- -- the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network a lot of time energy and effort gets put into creating in the state planned to secure and financially sound but there are plenty of mistakes that people make during this process anyone of which could have a dramatic and damaging effect on your financial future Cushing in Dolan has a new -- know this month called the top estate planning mistakes you'll learn how to avoid these critical errors and help to ensure that your assets will always be protected if you created a trust more than ten years ago and haven't updated it since you better get on the phone and set up a meeting with your estate planning attorney don't assume that your trust has been funded if it hasn't it could be subject to grave consequences when your spouse passes away call right now 8668485699. And get this brand new free guide the top estate planning mistakes from time muskie of Cushing in Dolan. That's 8668485699. Don't make the estate planning process any harder than it has to be avoid mistakes they can decimate you financially if you are careful colleague 668485699. Or downloaded right now from our website legal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by a 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. Play for time is not an easy process there are many factors to consider such preparing for Medicare understand potential tax consequences for your investments in assigning a value to possible health care costs can be a bit like planning a Thanksgiving dinner in not shopping for all the right agree at its closest Mike Armstrong and if you're nearing retirement age he need to get our brand new free guide called how to prepare for retirement it contains a wide variety of information that can be critical to formulating a solid plan they'll help you maintain and protect your assets while affording you the freedom to enjoy later in life call right now at 803934001. That's 803934001. And asked for your free retirement guide today to guide includes your very own retirement check policy can make sure you're hitting all the right boxes that number again is 803934001. -- you can download it right now and Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. If you've been looking for high yield account for your savings look no further than leader bank's eighteen months CD they're offering amazing annual percentage yield of 3% when you open the account with a 100000 dollars or more take advantage of this incredible offer by calling leader bank and grow your savings today the number to call is 8776917900. And you can also visit them online at leader bank dot com again that's a whopping 3% EPY -- all you have to do is open the account with a minimum of a 100000 dollars to earn that APY for more information call leader bank at 8776917900. Operators are standing by to take your calls and answer any questions you may have so don't delay get on board right now with this tremendous offer by calling leader bank -- 8776917900. That's 87769179004. Blog on the leader bank dot com fees could reduce earnings in the penalty may be imposed for early withdrawal new money only leader bank a step ahead member FDIC equal housing lender. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks -- hassle out of rent today we're zero and 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 we -- rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Securities offered to 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 Stuart Barry's 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. All pick up trucks are not created equal according to the Insurance Institute for Highway Safety. Some of these pickup trucks that are on the road today are safer than others. That he tested eleven midsize and full sized pickup trucks and found mixed results. The good ones who give me the good news first. The Ford F 150. The Dodge Ram and the Nissan Titan they got the best possible rating of good. So the other ones struck not so hot. Yes and those three got beat the best possible rating Honda Ridgeline was rated acceptable which is the next year down. But then the IEA HS came out and said that the Chevy Silverado and GMC Sierra provided only marginal protection. In particular for passengers in the front seat when the right front corner of a truck slams into another vehicle or object to forty miles an hour. Two bit and get pretty specific on these tests. The IA just actually gave eight or rating the lowest one possible to the Toyota Tundra. Which surprised because Toyota's always been known as kind of being mean of safety quality that's kind of been Newsom there's one there's things. And it's not the case here with the tundra so that one caught me off guard to be completely honest. Now I eat it did me as well. At apple launching new air pods in wearable push I gotta tell you I thought. A pair of had sent it's the four TH OR PE wireless headset. It's fantastic. Why would anybody to go with air pause and you go with Thorpe for half the cost her. Tech review board of sports I haven't heard of well. There really are they are they pop are they to air buds are they a full head set full headset wireless. Eight hour battery life. You sync it up via Bluetooth with your phone yeah. Terrific absolutely terrific interesting I've seen those before the the pods I think it's just a little bit more discreet a little bit in a smaller less people be so for example. You know if you're riding the subway and you just don't wanna talk to anyone like several riding the subway. These days. You don't necessarily want some huge headset on a you know like you kind of a target for someone grabbing that headset off your head. In NB it's just kind of big when you walk around so you know air pods and your products cleared the air pods did not happen. That Libya you problem. And what did you check that I could create your problems that's literally injury here. You're not the first person to tell me they put it in your ear canal pretty money you know it's like it's it's deepen their right next to the drawn. New bank I don't bomb I mean the reason I bought my money headset the Thorpe was because I couldn't hear the darn Airbus expert. And I I I still have them ever use them. I'm looking for. Thorpe Amazon. Export I can find them anywhere to he's actually exist. I think bare minimum. Well I got apparently at him and the world. Take a picture of forums. I'm you know these are not that you don't exist if you type in port headphones in you get the lost world EE putted yet the end yeah net. I like what are they are a lot of there and turn it like Bose has the Indians boat finished yet your eyes checked to in the process. I've been told that to occur as well or headphones with this as ginger was now. Welcome back to I'll keep I'll keep Google in the wool will come back to. Did you see that Amazon is launching its first skin care product line I did how do you think you pronounce. I can't figure it out is it delay. As simple way BEL. Guy I want I've got street belly. I don't know that people margins and stuff are huge. They are and so Amazon getting into the private label business in another area now and this is it seems like every month or every couple months. You see Amazon talking meg getting into a new private label business I think it was that a couple clothing ones that launched a couple years ago they had the big was last week last summer maybe early last fall they launched a couple different furniture lines appear member. Due to see that it's good stuff like gave a 138 private labels now. And what they do is they come out by there're other coffee members Tanya Tucker but that does Salim low cost bit nervous Jerry I've perch as well. It's darn good copy you don't know that it's manufactured by Amazon com and I'm guessing they sub out but darned good company. In other coming out with beauty products if they're gonna sell the price tags going to be somewhere between nine and forty dollars but if you talk to anybody that industry. It's like 90% profit they spent all the money on marketing trying to cells. Want an end here I think is where you have questions about Amazon's market power and monopoly power so. For example let's say that you Google one of these things looks the Google moisturizer is an example or do you we search on Amazon. Is Amazon going to put its own products first. Sure of course how is that not abuse of power of market power than. Well they get in trouble in Europe. But I at a ticket have a problem here did you think the DOJ come down on for that the kind of stuff that would it and I say this I'm someone who owns Amazon yet. But that's a win when we talked yesterday that 74% of people go to Amazon first when they wanna buy something and if Amazon and is putting its own products before anyone else is also is using. The information they get on pricing to price below everyone else. Well I know they're doing that as they do that with the coffee I used to buy San Francisco Bay coffee. Because it was you know it was French roast and it was inexpensive and then all of a sudden the Salim a brand shows up but it's one cent less and it tastes maybe even a little bit better. Yeah it's so I I worry about that stuff and I say this is some I I use Amazon all the time I own the stock now. But I can do those things and still say hey there's something that's kind of wrong about this smell a rat and it just it it doesn't make me feel good. And here's a story that I thought I'd never report CBS selling candidates based products in eight states not so in a week. But there's all the royals let Terry 888 they don't have teach CBD oils. CB the oil's that's what they're doing. Yep and this is they started doing this eight states including Alabama California Colorado Illinois Indiana Kentucky Maryland and Tennessee that's actually the full list. Again no THC but plenty of CBD's. Markets are open and we have a nice rally going on the S&P 500 is up 23 points to gallop a 156. Points NASDAQ is up eighty points crude oil is up five cents a barrel. At sixty dollars and 28 cents have a great day everybody will see you tomorrow right here. But it took you.