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1-16-15 Full Show

Jan 16, 2015|

1-16-15 Full Show by The Financial Exchange

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Or are extra from the financial exchange and I'm here to congratulate. Mr. so she'll truly from leader bank so she'll. You guys are you know are a mid size or small community bank that you were ranked number five. In all of the banks in the commonwealth for small business lending congratulations to you and your. Thank you very much thank you Betty. A lot of credit goes to you I AK ammonia showed two months ago. Leaked out about these special program leader bank had products Mon business Christmas. And because of that deal model business we got the people took advantage of that smog program. We the number at the fifth lies just as Vietnam and as you let's be very proud of very part of what my team on my quote team leader creating jobs in a bad lending that money you're creating jobs and your help and motivate the economy. And we absolutely ask some new BM making contribution to the locally you've done right so we have introduced a new product now. But this year VT's 50000 dollars. Opt for the 2000 aft quarter and help us and if forty alone and we get indeed have been deemed ten working days would close a long. And daddy impaired documentation as a quiet so anybody looking tied at the SBA loan. Please contact us and databank will be developments tonight databank dot com would give us a cop. There are a leader in small business lending 50000 dollars four year term four and A half percent interest rate their phone numbers toll free 877. 691. 7900. Or visit leader bank dot com get McCall they're terrific banking in the wanna be your business lending partner. 8776917900. Leader bank dot com. If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it make sense to get professional advice to make it last 8668106. Fourteen to. Securities offered through securities America ink member finreg as a PC an advisory services operatives securities America advisors and Barry Armstrong represented it comes to an advisory group Ministry's American companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state goes to grocery. Into the wall. All dance the. The basketball. Yet wherever you're going the quality gasoline and ExxonMobil stations of the energy behind your journeys they helped engines run smoother and help improve fuel economy to ExxonMobil energy lives here. That's on Docomo mobile accomplish details. There's your basement or crawl space have adapt musty smell. Well watch out that's a sign of too much moisture and not enough ventilation and that can mean increased mold growth and the buildup of harmful toxins and gases don't bother with the 1888964. Way bets 1888964. WA VE a. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one or feast with an unexpected nursing home stay. You haven't done your cleaning. Before you write that check pick up the phone and get some expert advice the lock from a cushy union Dolan has put together a brain you guide for 2015. Called cleaning for procrastinators. You can not put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call the year free procrastinate is guide right now at 866. 84856998668485699. Okay. Orleans hold on your checkbooks and did your portfolio break. It's time for the financial exchange with Barry Armstrong and Kim Keller again from Wall Street -- you're street -- human judge you've got hurt in the financial exchange with Barry Armstrong and gene Kerrigan. And welcome it's stage on this Friday area right where everybody's in a terrific mood around here I mean you're arson that vote on Friday. Let's all week and I'm came here in size with it knows it's not his. A little bit extra you know happiness that. I thought you're gonna say extra mustard on mine I'm from. Yesterday I at a little spill and I didn't have time to do laundry so that's where it just happens that it's I don't care is an hour will you traveling this weekend I'm heading down to you Georgia for a fun weekend ATV's golf and the firing range. I nice guys we can and can't get it's I don't usage would play golf in you mean outdoors or David sesame. It's a long weekend I'm so excited I am going to be course watch the patriots game and I'm going to be playing golf and I said. Go with them denouncing here. As a body get you where how cold is a you're playing on our go to guy in place up and what's called I'm gonna -- one I think it's it's in lake -- forget the name which you know names of the indoor yet -- simulate like -- should have played old saint injures to be a tough test formula in disgust at the one up in its middle I don't know I don't trust that must have talked to us Milton Milton yeah yeah I did that when we tell those places they're great in the winters as the keepers he was laying right here right ball what you need to what we like played outdoors are they -- you are that into my friend David you know you're going to be out there you know in Georgia but keep in mind it's it's 55 degrees and George's I'm going to be its its. Line. I like the jacket when I'm gonna be a typically go with under -- a little bit a little bit more freed Jack and I like the noise in the ruffling it in this. Well. And we knew marking. Aren't needed fighting jacket to get all that that's that's the bigger issue is if you saw the number of jackets Everett during my career I mean I'm keeping Nike and business. A good cause I was the beard absentee. Belts around that we're going on each state kind of the playoff beard we have assuming that the patriots continue on we've got another seventeen days to ghosts who were about a third of the way through. And it's I found a squirrel in the right guy that's disgusting and I you know and I found some leftovers from the first day was injured I had Sherlock. I know you tried to be interlocutor we know that's on our ought to be a quarterback not Andrew AFC championship game. They are speaking of quarterbacks was that fun yesterday with Q let's I'd still yeah people. Who had some kind of comment about drew being on how nice it was and by the way check out. Searchers at the lines. No and maybe I didn't go to the right place at as far as I can see primarily just has won wine. There's located at different types yeah. They're they're nice one death that if I mean the bottles rates continue to bottles and at a slave well yes yeah. While that's that's pretty cool so after that there for an Drew Bledsoe who can now shipped directly to use of these recheck and hours. Really fun to have him on a realistic look at what we've got going today though they were going to be joined by Larry Kudlow. In this hour we're also gonna have. Someone from Bloomberg who's gonna talk to us a little bit about maternity leave and the issues associated with maternity leave in this country. And to its Gerald was a graduate from the Boston Globe in the second hour to talk to us. About a story that he wrote today really good story about how. We may all be paying less at the pomp but it's costing us more. In other parts of our life up and down. He hits it's its. Sort of pay it if you read his article first off I've got my blood starting to boil because. Essentially. Backing up what you've said right here check on the show that you know like airlines for example they don't need to get rid of their surcharge because it's they just don't have to. Now you know if you're already used to paying higher prices look no no airline wants to be the first to blink until someone says look I'm gonna finally come in and try to get a little extra market share share. But we talked about airlines but it's really interesting because. Are making a lot of money off the fact that your pay laughs for your gas so we're going to be chatting. This morning of course this is what got reporting going on this is fourth quarter earnings season. And at Goldman Sachs which was the last of our real big banks this week to report and Goldman posted. They cut most of the beach. They bead on both earnings in revenue but they're earnings were not his eyes mini hit into as. No the earnings came in right around 438 a share which is close to what I think a lot of folks were expecting the big issues. When you look at again on some of the numbers from their trading department in particular they're fixed income trading wasn't very strong in the quarter. And I think that that speaks to a lot of the uncertainty that's out there in the fixed income markets right now you're seeing a lot of movement with regards to currency and bonds at this moment US ten year tenure treasury down below one point 8% after being ties 3% of the partner's eyes. But 2.5 percent last him like you you have some significant moves that are happening. In the bond markets and unfortunately. Goldman wasn't really able to be on the ball as far as those moves were concerned. So I think that when you look at this you know there are some headwinds for the banks especially. You know banks not to we're gonna be heading into a higher interest rate environment over the next year or so. You're not seeing that right now you're seeing yields come down really across the board whether you look at what's going on in Europe. What you come over here what you look at what's happening in Japan. You continuing to see a flattening of the yield curve which locates it suggests that people are very skeptical about what is actually going on. Long term for the economy and and I think that. A lot of those concerns in terms of long term stability. Are some unwarranted because you do have the biggest the the biggest problem it's going to be out there in keeping economy's going the next ten years is going to be deflation not usually light bright inflate inflation is not the issue the issue was you have all this money but no one wants to spend and. That's that's the problem absolutely. Boy I tell you look at the world and you say wow look at all of the things that are going on in the world it's no wonder that we had. Where our fifth or actually acting attach sixth day with markets down and it paid traders are just looking around and say what. It's going. Well I think that this is this is unfortunately going to continue for. The foreseeable future in the reason is that. People are still trying to sort out between what you have going on over in Switzerland with their surprise move yesterday to decouple from the Euro. But I think beyond that you're still trying to figure out look what is the fact going to do in terms of are they going to raise rates how quickly are they going to do and can the economy start to really generate momentum. With Al. Quantitative easing in place for an extended period of time. So far you look the first three months since it's ended numbers have been decent they have been great but they've been moving into it you know and positive directions. But that they're still are questions as to whether or not you're going to be able to really get to escape cost feature with Al help from the. Federal Reserve well based on Consumer Price Index numbers are released this morning from the month of December. It's like the Fed is probably not going to be pushing too terribly hard. Let's stick a look at these via consumer price recorded their biggest decline in six years in December up and underlying inflation pressures. Seem to be benign which means that delaying the first interest rate hike from. The Federal Reserve is probably. Gonna continued delight it looks like you know let's take a look at what the numbers were the price index fell. Point 4%. Last month and that's the largest drop since December of 2009. Slip point 3%. In November of 2014. And so on. In the twelve months from December CPI increased point 8% but we had those slides backward in November and December. Yeah and when you strip out food and fuel costs which is what really that's really what the Fed looks epic as they understand that fuel costs are going to be volatile from month to monitor. And when you look at that even stripping those out you still an inflation really completely flat in the months zero point 0% and look no one wants inflation to be significant because obviously it you know it takes. It prevents your money from being an effective stored about them but the problem is that when you have no inflationary especially if you have prolonged deflation which were not there at this point put. You know you you have to wonder with what's going on in Europe and Japan and other established economies. When you have that. There's no incentive for anyone to go out and spend money today you can be cheaper to do something tomorrow right and that's why the major concern that you're seeing with all these Central Bank is look how do we keep. Some type of of inflation going. But the problem is the tools they're using when he talked about quantitative easing. If it is not an effective tool. For stimulating an economy if it creates instant demand but it does nothing to address the long term contagious conditions and that's the major Fisher absolutely can you tell me where oil is trading get out. Still right around that 48 range you are out relatively stable the last couple days around there. I I don't know if you can call this a bottom simply because we saw some stability in the 5556. Range couple weeks ago and then went right through that seems like stability comes Wednesday through Friday I think it. Your go to it again you're you're never gonna see oil. Go down I think we can safely say look you know I can she get down into the twenties or anything like that simply because there's there's no indication that you would see an additional 50% decline. But I think that you know to be able to say look we're we're finally at a bottom. Too early here but I think that you're starting to see you know some type of war being built but you know what happened you have no idea at this point. A national average for a gallon gas dropped to 0:8 this morning that's down from 209 that's a blocked one lead down from where we were a year ago which is pretty amazing. A when we come back for the financial exchange or talk a little bit about some of the repercussions from this from the oil being so low. We got layoffs that are coming gas and and there's a lot of them and we got some numbers out this morning so we wanna chat a little bit more about that and of course we're gonna talk about. What's gone on over in Switzerland and with the fallout from what this was government support relationships was Central Bank. Did two days ago it's been pretty dramatic so those stores are a lot more stuff coming your way right here on the financial exchange we look at stay with us. It's very Armstrong and compared them. Right here on the money to exchange radio network. According to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month but it's certainly ideal to develop your asset protection plan in advance light tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice. A lot permit Cushing and Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinate is guide right now at 866. 84856998668485699. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of deposit or CDs leader bank is currently offering an eighteen month CD with the impressive. One point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent AP why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more leader bank a step ahead minimum deposit to open and earn annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings. Rates subject to change without notice member at the secret effective November 4 2014 this is very strong and I'm joined today by estate planning attorney Todd ski from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day. We're talking today about the different ways that you can owned real state and Todd I want to ask you this one. What are the implications of transfer your whole scene just take your home yet and you give it to your children. In order to protect it from the nursing and I actually had somebody asked me this yesterday sixty years old. In the heard about this thing transferring music like this. Yeah I kind of makes my teeth it. Really know yet putting your kid's name on anything while you're living it is frightening with or without the light for states a year question was interest in atlas. At least using a life estate does provide the parent the right to live there that some protection I I feel better about that. But I really don't like having the children's name. On any property. For the following reasons one when you do that it's a completed yet. True you've lost all control over your order anymore I worry about it that it's going through divorce an ex son in law the ex daughter and when your house like. Number three is it you know Ali you know I don't you've now subjected manager just said Barry took their creditors and president. Necessarily have to be divorced does it could be a lawsuit business failure and could be any creditor so they'll basically that creditor has the ability to get the ascent to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't don't do that. Fareed I've got some advice for you learn the best way too old and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668. Rory. 5699. The guide will teach you all about the risks and rewards of real estate ownership. Whole free 8668485699. All the best in business is right here Barry on the stroke and can carry him. On the financial exchange radio network. Everyone we get tortured here. We somebody who wrote in said they love the fleet that we sent them. Right. So the answer and one of the questions this week it's awesome we're glad that well. Yeah with the police would get done stuff coffee mugs it up I huge earth without blinking it's. They are gonna mention the torso comet only it was a little bit that big it is toward a long used to repair an argument when Barry when you mock turtleneck. And fortunately our listeners would do that FB texting campaign to prevent that and and it think I'd like to thank all of you. Protect its and you did it lock on mock turtle necks. Because no well one of those yet you know we can bury me like that we all know that there are all back area has zero fashions. You know what I don't feel bad or monitor that while still wears covers with Sox. He's well how does last year eighty circulation issued its feeder called off and now now. He's from Canada is under an hour and your adherence of the days some of these we do the show and win the markets closed yeah you guys aren't here comes in just casual clothes. At this game upload it as this past year I felt I wanna see it listen I don't see. I think it's it's when he went to the IR radio show. And came back with a tattoos yeah yeah I think that. I I did the Goebbels reduced lip pierced but now I've got a org darker. Are right we would get their first trivia questions and you. Can win one of these great prizes we promise it will not be a mock turtleneck what is the capital of Arkansas. Arkansas is our state today what is the capital of Arkansas derby Nancy could access at 680 exe love to hear from you. Our let's talk a little bit about it we would to the breaker talking about where oil is on trading today. And we said the you know stabilized a little of them around I don't know 4247. But regardless regardless and we got surplus and surplus means that it's time to slow op at some of these. Locations were pumping oil in here in new in this country that's going to be some of the oil fields and it's gonna mean that some people lose jobs fortunately. Yeah and beyond that the other place that you're going to see jobs going essentially being taken away. Is in oilfield services a lot of supply company around them that essentially do a lot of the war games in setting up oil fields getting a lot of the wells right dog set up drilled and everything. And in particular. I Schlumberger now who is one of the biggest oilfield services companies out there they're projecting that the cause of lower prices they're gonna have to cut somewhere around 9000 jobs actually. And so this is we've we've talked about this the last couple weeks. Even though for the average American low oil prices is a great thing sure if you are in the energy field right now specifically you do work in America. It's very difficult it's a very difficult time for the energy sector there and you're gonna continue. To unfortunately see. These types of layoffs now. This doesn't mean that. If you're you know working if you were working a pipeline or something like that. Don't those jobs largely you're gonna be safe simply because that you already have fairly minimal snaps for those types of operations right you know you will see some changes in terms of refineries but it's really the service is in the the exploration and production guys those are going to be. The ones that are most affected. By the downed. And I'm pricing yet you bats and 9000 jobs or talk about their army may have a 120000. Workers. But even still if you're one of those 9000 workers and you're going to be an important it took part about it is whatever it is that you do for the metallic and biblical cross town and do it because. There's not going to be you know everybody's playing off it's it's not going to be the key you know it's just that company. In that field we also have Houston based energy explorer like you just had a patchy. And apaches can cut 5% of their work for a horse force. May be starting him those pink slips out this week yeah. Unfortunately I don't think this part of it is over yet we have not hit the bottom when it comes to people losing their jobs. No in the one thing that Humana silver lining with his a lot of the folks that are involved in this sector do have skills that. While not directly applicable to other sectors they've skills they can at least translate in typical example truck size it's cutting popular there and if if you have someone who's you know mechanically on the mechanical engineer gently as well engineering or something like that they may be of say OK can't do this right now but maybe as sign on the construction company for the next couple years until you know I think that. That they may take a cut in pay but you know they have marketable skills that are able to translate to other industries so. It's you know again you see these boom and bust cycles in various industries from time to time and in particular one area of the country that you're seeing is is going to have issues here. Is west Texas which has been undergoing a whole line of of fracking a ton of drilling over the last year now. And you are unfortunately. Seeing a lot of people there who may have bought homes they may have bought cars and they're gonna have to figure out how to piece things together. And that that is top because in these areas where this is going on these oil fields exist nor you know North Dakota. In west Texas these are not places where there's other industry this is the industry exact and so bay. They are gonna suffer economic downturn there's no two ways about it in those areas and the like you say people who have come in there were with the intent to stay. On some of these folks are gonna be forced out and it's kind of it's going to be difficult because again there's not a lot of industry there are so when you're selling your house that you can move to. You know Oklahoma. As I am not the same house too so if it's gonna turn out to be some really tough times for some of these people. Yes and it's look it's it's unfortunate because again for the vast majority of people in the US several insidious that people are celebrating the same outcome I'm happy that it won't be able to save money. But you have to remember that there are these people. Who you know largely the reason why you have such cheap oil and they unfortunately are gonna have potentially a very tough couple years. Simply because I don't think that you're gonna have. All of these. You know all these people are not going to be able to find jobs act quickly Sarah Sarah it's now if they're locked into those areas and that's why it. Well yeah I've I've talked before about how. Countries that have lower rates of homeownership bigger communities that do. Actually can be a little bit more stable economically and the reason for that is because let's say that you're someone who's moved to west Texas and bought a home there. Well you may not be able to sell that home right away and now you're locked in to a location that doesn't have a job anymore where I viewed simply Brent did there now you say okay. You know what I'm gonna pick up move and had somewhere else now. And that's why homeownership while can be beneficial to an economy again it's not necessarily all good news chair on that front for his clocks people in Uga. Okay absolutely well you know in the the flip side of that now what Texas I think they're going to be dealing with that exact issue when you go to North Dakota their problem there's been they have had enough housing. So there will be individuals there were going to be able to move a little more rattling because you know some of them did just in temporary housing that they brought out there. I mean they're they're reports of people and vehicles you know because it just don't count don't they don't have housing out right now so that's an area that may yet be affected in that way as much but. But in west Texas I think that's that's a part of that. World where people wind that put stakes down they thought they would Tuesday again it is going to be it's going to be an economic downturn for a lot of those kinds of areas. So are right we have a winner in you know every as the audience that was in the capital Arkansas. Little Rock, Arkansas. Joseph news that job so easy and Warner's New Hampshire. He's taken out this morning that dared to bury anything to do with the mine's most pitchers. We tried to get that we tried to keep his picture often actually. And leaders are about couldn't do it I've noticed if you're right handed the problem is the picture the faces you yeah we I reckon I doll duct tape is what I. We recommend a it's favored as a regular thing that I'd. This is the financial exchange on the financial exchange radio network. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent -- 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member F. Yet see right effective November 4 2014 this is Barry Armstrong and I'm joined today by estate planning attorney Todd ski from the law firm Cushing in dole. It's time for your legal exchange quick tip of the day. Were talking today about the different ways that you can owned real state and Todd I wanted to ask you this one. What are the implications of transfer your whole scene just take your home yet and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about the same transferring in using only the state. Yeah I kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light for state so your question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection I I feel better about that. But I really don't like having the children's name. On any property. For the following reasons one when you do that it's a completed gift to you've lost all control over your order anymore I worry about if the kids go through divorce an ex son in law the ex daughter and when your house like. Number three Izzy you know Ali you know I don't you've now subjected manager just said Barry took their creditors yet doesn't necessarily have to be divorced does he could be a lawsuit business failure anything. Could be any creditor so they'll basically that creditor has the ability to get the ascent to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't don't do that. Our rate I've got some advice. Or you learn the best way to own and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668485699. The guide will teach you all about the risks and rewards of real estate ownership. Whole free 8668485699. If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Fourteen to. Securities offered through securities America ink member finreg as a PC an advisory services offered through securities America advisors and Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even the ads frankly that I hear on the radio I like to buy gold from a local institution that I trust I owned gold and I bind my gold coins from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with. Branches in East Arlington Arlington center Arlington Heights of Belmont Burlington and Central Square Cambridge thank locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin programs 8776917. B 900 or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. Follow Barry on Twitter at Barry G Armstrong its Barry Armstrong and to interrogate him. On the financial exchange radio network. Friday they're a financial exchange on to interrogate and Turks not a is here with me and for those of you who are wondering Barry will be back on Tuesday. So I know we've had number of people texting and and asked where he's been in. He should there way into a little time off he doesn't have to be if we get good text response. Right well wrong well inaccurate. What's it. But I guess he doesn't have to be we changed the locks right at we did. Mock turtle necks out the whole waiting grab those babies on the way through. Arctic area I've finished the keg for his back. It's done took care of our air I appreciate that. Gentlemen gentlemen. Let's back up. Before we talk about what has happened since the Swiss Central Bank made big decision yesterday just explained everybody chuck. What they deem it. And what a shock at wise and then we'll go from there are some of the ball a lot repercussions in the last 24 hours. I'm really what the Swiss did the Swiss National Bank came in and they had for the last three years. Pegged their currency the Swiss franc to the Euro at a rate of about one point two in what they did yesterday. Pretty much they came in and said we're no longer going to do this and this is despite having said in very recent times in the last three weeks that they were not going to change that peg at all and so what you saw. Was a massive. Shift there and what we want unfortunately ends up happening years so let's say that you own a a significant amount you know you're hedged and you're projecting you know you're against. The Swiss franc depreciated ask well what happens is again again most people were hedged in that fashion simply because they said. Look we we don't think that you know there's there's rather not Brazilian we write so we're we're gonna go short in terms of our position there. And what happens is all of a sudden this position that he's though is relatively safe because of what Swiss National Bank have been saying. He's now. Out of the money in you have to figure out how to cover your losses. And what we've already seen is that we have a Forex broker out of the UK out party that actually is now an insolvency simply because of 24 hours. Within 24 hours and this is not going to be the last shoe to fall so you're going to see other issues creeping up. You're going to see again I talked with someone yesterday who is seeing. Seven in eight. I think in 089 figure losses that are gonna have to be taken on this we're talking hundreds of millions of dollars that banks and other trading institutions are gonna have to take on the simply because they were not prepared Ford at all and that's. That the biggest thing. That they're saying is look you gave us no warning on this and what this does is the problem. It now devalues what the Swiss National Bank says going forward to the treasurer but if this was national bank comes out and says okay here's what we're going to do. Why should I trust you now. Why why am I going to. Get on board with this policy because I don't trust you. To be able to do what you said you're gonna do and this even caught the IMF off guard or you know the head the IMF said look we had no indication this was gonna happen I still need to talk to people at the Swiss National Bank. And so. This is. This is not good policy now this is because. The bill one thing you can say about central banks the only thing you can say that typically is really a strong thing in their favor. Is if they guide correctly they can give expectations where the market's going. This you take that off the table here do you Cain it it undermines the very credibility they need need to operate. And I think that it's a major problem. What they did here and again you've already seen one company after declare insolvency here you're you're going to see more issues you're going to see significant trading write downs. Because of this move again this is you're gonna see hedge funds that go out of business because this you're gonna see all kinds of ripples across Europe. Not as much in the US because you don't have necessarily the same type. Four X exposure that a lot of European firms had right but you're going to see ripples all over Europe in the financial sector. Now this piece on this side. Terrorism. Adam Myers he's the European head of six. Ethics. Research at Credit Agricole CIB. Yeah he's saying today that it it appears to him and some market participants were aware. Of what the Swiss bank was going to do in the question becomes. Was it where they front running org where some of these participants just taking a bold move to prepare. But what's interesting about that comment. Is that. They did come out three weeks ago in December and say that they would not be making this moving it yesterday we spoke to a reporter. A four Bloomberg you remember who said there was some discussion with the European Union that. While it did appear that this happened over tonight. To the rest of the world he believed that some people had been involved in this decision making. So it we talked about this yesterday about you why they made this decision. And where's the transparency associated with this and still leads you know wonder you know what went on behind closed doors. Well look at. The simplest explanation why why they're doing this you know you think about is it okay what they have to do an order to. You know make this work and they're taking on a lot of foreign exchange reserves in order to it to do yet the Swiss National Bank is you buying a lot of assets and in Europe. And he says OK I don't wanna do that anymore of the Euro if they're gonna do quantitative easing. But look you knew that that's gonna happen they've been very ECB has been very transparent yes about the fact that they are going to do quantitative easing and M point. It's not like you just woke up and all of this is gonna happen now we need to make a different policy. It it doesn't work like that and you think that that behind closed doors. ECB member said it's coming sooner than you may think. Is that was that notre could've happened IE I have no idea I mean it could or would that spurred this was back on his has been pretty transparent that they're gonna do something in the first quarter here so whether or not that today tomorrow next week again next next week is you know kind of reasonable expectation here actually. With the meeting coming up but. I look at this and it's simply again if you want to do this there's nothing wrong with decoupling from the policy what would make sure we get that straight at it the Swiss National Bank. Wants to do that. They're well that's what they are designed to get within their right the problem is that as recently as a couple weeks ago they said they weren't going to end what what that does it sends this destabilizing shock through the market. And again you've already seen one company that's gone out of business if it does turn out to be true that there were significant moves on. Prior to this happens where with people lining up. I think what you needed he was significant investigation of that and whether any information was shared prior to this. Because of that case those people need to be prosecuted to the fullest extent of the law because if you simply can not allow. That to happen is the only way that the Central Bank can function with any type of legitimacy. Is if you do not have that information getting out you have stuff like that unfortunately happened because you can now lock things are complete I put it if that did happen in this case I mean you need to have significant. Significant prosecutions of those people because there are you know those trades of put a licking out of power out of this based on faulty and from my anatomy not not only out of work but out of business which is on the I mean you know you you've got to know. It goes who made this decision at this was Central Bank. New what kind of follow up it would be they knew there would be businesses that would get a look at what they were born yesterday these are lifelong economists they force knew what was going to make it and that's. That's what. It's unfathomable that they would actually do this it it I understand the rationale behind the move. I do not understand the suddenness and the unexpected nature of doing it it goes completely against what any Central Bank should strive to do. We'll take a break everyone you're listening to the financial exchange. This is the financial strain on the financial exchange radio networks. A according to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one or feast with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice. A lot firmer at Cushing and Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinate as guide right now at 866. 84856998668485699. If you're thinking about retiring -- in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it make sense to get professional advice to make it last 8668106. Ford to kill. Securities offered through securities America ink member finreg it's a PC an advisory services operative securities America advisors and Barry Armstrong representative from China advisory group Ministry's American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Are you thinking about transferring your home to your children in order to protect it from the nursing home. Did you know that if you do you put it at risk for your children's creditors including future divorces. You really wanna write a check tear former son or daughter and not just to buy the Acura own home. Not only does transferring put your home and risk it can also create a huge capital gains tax when they salad. Right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state taxes. 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Investors searching for relatively little risk investments that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent -- why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more with the bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member FDIC rate effective November 4 2014. All best in business is right here Barry arm stroke and can carry him. On the financial exchange radio network. I got another trivia question for you remember our state is Arkansas yes Arkansas produces more than 90%. Of the US's. What. Hats they spots and couldn't tell it. Fortunately anybody defame our listeners how big the 8680 is 6000. Think about that Arkansas produces more than nine cent. Of the USA's. What our next guest knows what the answer that is whenever he does get super I wonder. If he does we are now fortunate to be joined by Larry Kudlow from CNBC. And alert thank you for coming on with us today. There any chance you do know what Arkansas produces 90% of for the US. I I thought it yet. Yes I a ayalon and on board with that Larry that what oil. First question I got to ask you when we looked out what happened in Switzerland yesterday what what's your take on what the Swiss National Bank is doing. Right they may they couldn't keep pumping in money in order to buy euros. He the the limit. Though. It was true and they don't want to have a re inflation problem the reforms were flown. Once you know your own place so that thought is this web thing not a world they American. Europe gone down because. It quantitative easing and probably next weeks ago at the ECB. Will pump been more Europe. That will reduce the value of the year. This swift did not want to keep their limit. In the lower value of the Euro. So they withdrew their support. That means they don't have to keep the eye when they are heroes they create news Swiss francs though they increased their money's. They don't want to do that I think it's a wide city. Is it surprising at all that they made the decision so suddenly. I don't know they've been looking at this for quite some time they've been living with this so called pay for. If it's twenty you know I've been they probably just gave up by you know Switzerland it's a country that. Wide open. Refit the three quarters there economy. Is open to trade it is by trade whereas for example the United States about 15%. So they have to be careful about the eye of the Swiss franc. And the attractiveness that this was some ice it is a very wise decision. I hate hey I don't headline move in the grand scheme of the world I think it's relatively minor incisions. Obsolete now we turn back to look domestically one of the issues that's being. Talked about the last week or so now is. The idea of raising the federal gas tax. With oil being where it is we made the argument that you don't make long term policy based on a short term price what are your thoughts with regards to that. Rushed out bad spot in Tibet but right there aren't completely opposed to race aspects. I want that hole at a time navigate and debate with senator Bob Parker. It was a friend of mine. Like editorial and a couple of reasons number one. Give the middle incredibly elaborate please putting truck tractors. They need one they've got one. Prices down a buck and not a good thing but more importantly in the longer run the highway trust. Was designed by president Eisenhower and his group. What sort decades ago. To an end the interstate. Highway. System. Okay. They pitched out through a gasoline tax. But they also. Did so through eight hole all of those roads used to have to hold your deliberately brought. Here we had hold on the Connecticut turnpike tolls on the and teachers as polled of the lip but in many state that's very unfortunate. So private hole road financed by bonds that was a good model it's been thrown out. Instead it argued that raise in the gasoline tax as a substitute I think it allowed the idea. Secondly. Urban mass transportation. Has become part of the Ohio speech. It was never intended debate so. Therefore. If you take out the urban mass transportation. And today highway trust yes well the fund is in now. Say well why don't we in the east that stay in Boston. I do we have by it and high speed bullet trains to nowhere in California. About systems are subways has. By the way why should taxpayers x.s at the finance the big day in. Late bit. That's wrong and that's just the largess that wrote that the federal government. So what onstage is. Well back to private toll roads or public private partnerships in building these 20. He'd be is that it's being with local highways. Local buses. Local lot subway system. Do not have the whole country paper however that's not what he risen like he can last if then statement. The good people of Massachusetts. At their gas tax rate that's below with a stated they should be allowed to make it that should not be a federal. All right well Larry I appreciate you coming on with us today hope you enjoy the weekend and we'll be talking with you next week. That was Larry Kudlow from CNBC and I tend to agree with a lot of what Larry has to say. With regards to the gas tax I think that to talk about raising it right now especially. What you have low oil prices they're not going to stay that way right would you simply you do not make a decision on long term economic policy based on the fact oil's slow today it you know I don't what who was sitting there. To me who was it last you're saying you know what. Gas price or two pilots will it I try is no point no no one's done it wouldn't if they added the gas tax and then they go back up no exact that's not don't have. It's I think that needs disingenuous to talk about it like that I think that you cannot try. To do to try to do that you're trying to pull the war of the of the you know public not just it's it's disingenuous. This is which can mean beyond the odd what you just said which is obvious that the business working out just to let the American. Consumer have a break. If some accounts GP don't automatic you shouldn't automatically say. You know what prices are too low let's let's raise tax you want to or you wonder. You people sitting in Washington you wonder why. All of we voters out here feel the way we do about it few more stats every single time it's what it looked it. That's exactly what is it buries its very simple it's up book prices are down we can raise prices because people used to paying more know now exact know enough. Ivanov and I sometimes think they sit there and think to themselves another dumb enough they'll fall for this bill map now all that's what they pay and leave us alone leave us alone you know. Interesting is that is that if you look at a high gas prices America and forever if you go to the pump look at gas prices are one of the few places in America where they don't. The tax is built into the price they don't tell you how much did you pay it you know it's not like a sales tax it's added after your exotic way airline taxes that they you know they break it out and show you okay this is what it's. Now awaits the look. You're its big did you don't know what the taxes that's what I think a lot of people say what if you have if you ask someone what's the yacht federal gasoline tax. Some people may be able to tell you what is but state level no wanted to know what has any idea. No any kind of idea. If he gives you any indication. Take a look at the difference between. Gas prices in this state vs gas prices in other states and you get a pretty good idea what that attacks is all well and the other thing that one of our listeners from the 978. Points out and this is pretty important to look just as prices are down doesn't mean they're getting less revenue. The total tax per gallon it's not a percentage so here it you know the reason that they're getting lesser revenues because cars are more fuel efficient now because. Prices are down of prices are down they're still getting the same amount rusher so. It again it's disingenuous to say oh here's why we need to raise more revenue no you don't raise just because gas prices are down it's not a percentage based tax you to. Oh and by the way that's coming up in just few minutes here in the second hour our operatives here. We're going to be talking to a reporter from the globe who's gonna talk to us about how. Is libelous things that are going to be going up as a result of gas yes they are down which just like you just I mean is really. It's unfair and it's disingenuous but we're in it's more about that point some of those out for you. OK I got to give him because nobody's giving the answer to our last trivia question. So I'm gonna give everybody hands of people are guessing things like well someone guessed hillbilly. That I'm is no I'm disappointed our listeners and I do but you wonder why why he's going gets clintons and no one gets Clinton it was obvious rhino and it's not the right after I it takes maturities. That would. By far the most wrong answers we've ever I I would thank you president Donald and answers get right we have so many different answers to which is pretty amazing. Although people thought it was diamonds announcer why. And folks rip out Arkansas is not near the water if about it I wondering. I did Arkansas produces more than 90% of this in the US a giving it. It's a battle. And. It's back to school time and it's time for you to brush up on your education about estate planning did you know that it. But you were ranked number five. In all of the banks in the commonwealth for small business lending congratulations to you in your tank. Give itemized thank you Betty. Not a credit goes to you I came when you're short two months ago. We talked about these special program leader bank had products mom business Christmas. And because of that deal model business we got the people took advantage of that's my program. We the number at the fifth lies just espionage and as you let's be very proud of very proud for my team around my quote team we are creating jobs in me by lending them money you're creating jobs and your help and motivate the economy. And we absolutely absolutely via making contribution to the local account you've done right so we have introduced in new product now. But this year VT is 50000 dollars up of fifty dollars and have border and help us and if forty alone. And we get indeed have 1510 working days would close a long. And that he impaired documentation of why it took anybody looking tied at the SBA loan. Please contact Austin databank will visit out of sight databank dot com would give us a con. They're leader in small business lending 50000 dollars four year term four and A half percent interest rate their phone numbers toll free 877. 691. 7900. Or visit leader bank dot com get a call their terrific bank and they wanna be your business lending partner. 8776917900. Leader bank dot com. If you're thinking about retiring I mean in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page read hi aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Ford to kill. Securities offered through securities America ink member finreg it's like PC an advisory services operatives securities America advisors and Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Pat Boone here with a word about banks' safety do you think your money in the bank is safe. Don't own bank Garnett but generation ago bank account felt secure and they paid interest. This encourage the virtue of thrift savings but today. Bank accounts paid virtually nothing. And shifted from lower risk. High risk for example did you know your money deposited in most US banks could be subject to limited withdrawal. And even confiscated by existing executive orders who who yeah that's. And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on it. Still think you're bank deposits are safe. Yet this vital new white paper now call toll free 8051960. To 71. That's 8051960. To 71. 800 51960. To 71 or. That's a Miss America dot com is your favorite news photos and sports updates on your phone with a AT mobile from the Associated Press the new AT mobile is now available for free and iTunes AP mobile where the news gets its news. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance light tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done you planning before you write that check pick up the phone and get some expert advice. A lot from a cushy union Dolan has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call for year free procrastinate is guide right now at 866. 84856998668485699. It's. You're always hold on your checkbooks and did your portfolios break. It's time for the financial exchange with Barry Armstrong in Kim Keller again from Wall Street to your street Barry and -- have -- you could hurt he's the financial exchange with Barry Armstrong and gene Kerrigan. Hello New England this is the financial exchange or we're certainly happy that your with us to listen and I can carry game. So exotic is with me today and that we get another great hour coming your way. Lots to chit chat about with got an update on Steward health care system and yes we don't that this is Esther is during that. I'm not somebody who's big into conspiracy I'm really really not that. I don't know something just doesn't doesn't smell right here for me so we're gonna chant about that just a couple of minutes we're gonna talk about. Maternity leave in this country where it stands and some of the issues. Associated with that in general sort of talked to Jay FitzGerald. At 11:30 this morning from the Boston Globe was gonna talk to us about some of the prices that are going up as a result of our gas prices going down you're gonna be little surprised about. Where you're gonna get hit in the pocket. Even though you're saving some money with gas prices. That's coming up a little bit later as well so we got a great hour coming your way. Our and the answer this question because IE I cannot believe how many responses we had our. Trivia state anyway Arkansas people got this right they did after but Ed get a hint. Do we take with a price that I was gonna say. Maybe we have to lower the per well you get happy teacher do you just only get half fatigue vigorously as he should those still usable if I would take one. We actually are gonna put masking tape over varies based on the on the company if he didn't he didn't get the answer correct until after the hint. Are the answer though. And let me just very quickly the question again was Arkansas produces more than 90%. Of the US is what and the answer is. Aluminum. Aluminum. Didn't know that now did not know that but apparently they have a number of large bauxite mines there which is the source for aluminum metal a day and did not know that but that's the answer if it's it a lot of other interesting answers actually he. I mean we we've got some that really. Got about I mean tobacco we could. Maybe I understand that's more than Carolinas and that's a lot of different things you know peaches now now that's Georgia pork now. So pork is actually more like a little way you know they blond pig farms and that's the port though action again in Iowa. He's too hot in down markets off day or pigs down and that that humidity molding to a systematic cooked before you ever get it right I mean look you get paid out on the in the yard you know. I got up. A it's evident as it was where is Barry we've been told everybody Al mourning period of vacation he be back on Tuesday is maybe. Maybe we have some people voting them and they wanted to come back and that some. Cicada succeeding and that there's a groundswell to keep and our lines and saying. Yesterday we chatted with you a little bit about Steward health care system in the fact that you know they purchased the Quincy hospital. Back in 2011 they signed an agreement when they. Purchased at hospitals say that they would keep it open until at least 2017. And that it was late last fall that they happen said they were closing the doors of the hospital. And when they when they announced by the way they announce it on like a Monday and they were closing in on Friday. Yeah we're gonna shatter it immediately yet. Well the attorney general took them to task saying that there are your contract read that they had to. Keep it open until 2017. They worked out a deal of some kind which is never been revealed. And all we do know and that deal is come full circle and what will happen there's hospital is closing. However. They will keep open the emergency room or there will be some form of emergency services at that hospital for at least the next year or chew. Depending on exactly what type of what type of essentially what attempt track they have come again. Right right exactly. So I'm I hate to kind of question we we chat with a reporter but you know I I question. Wyatt was that. The attorney general what's in fining them for going against a contract number one that they had signed which was part of the deal as to why they could buy a house first place. And you know why this hasn't been more transparent well. It's forgotten past but before the holidays it was announced that Stuart health care had also decided that they would not reveal their financials. And data's law that they have to reveal their financials so they are being fine. They're being find a thousand bucks a week until they regular financials and there's so much doing it and other refusing to pay that they're not paying the penalties. And this is this is a different story I think that this is this is something that you know again this is a state law that they have to pay these financials. There is that reveal these financials. And I think the fact that they are reveal them in reviewing them in concert with this actually changed my opinion from master does that because the fact it. The fact that they are not actually disclosing what's going on and that raises some questions for me because you have to have transparency with this and. You'd think they'd want to because his big controversy surrounding it you'd think they'd wanna say. Hey we want to show your books and show you how much money we were losing in the hospital every market you really wanted to split up for everyone else so it's gonna fight if you're losing that much money absolutely but they won't and here's what they're saying. They refused saying that the documents contain confidential. And competitive information about investors. Non hospital business and potential acquisition targets. Will why is that all of a sudden their financials. Have that kind of information it but they didn't. Prior to. December. Right at globe welcome no one else's financials have competitive and for me right you know it's but this this is a lot if if in terms of if Europe publicly traded company OK and obviously they're not okay but you're if you're publicly traded company you have to make regular disclosure about your finances right quarterly basis that's. Part of being a publicly traded company you don't want to your privately tree and Al company you don't have to yes well a you know health care provider in the state of Massachusetts has certain disclosures they have to make. If you don't want to make them don't come healthcare company. That's right or don't do business in the state I don't don't do business here. Simple it's very simple but here's the here's what makes me so angry about this now there up to 161000 dollars this week and an announcement that all day. And what makes me so injuries he goes back to this whole deal with Martha Coakley. So they got way with quitting that justification for buying. And a hospital. Wise and part of the agreement wise enough to keep this hospital open until 205017. But they do away with not doing. And begin to find. And now they feel that they can get away with not disclosing and the fine. Now have other hospitals in the state and at what point does states say listen you're gonna do business the way we you're gonna do business here. Or. These other facilities are gonna feel the repercussions. In this ridiculous what's and just been the face of of a flaw. Well and no one's done anything about it I don't miss it again it's it's a little mind boggling and I think that the more that again the more I learn about this the more concerned that I get to my my first inclination if there was okay look you get this get something going on here but. You know what what's really happening out. It's it's a little more concerning when you status because. You would think that a company that has these types of issues at that reportedly has these types of issues would want to say look here you don't take a look we we can't do or here's why. But this it it doesn't make sense of early doesn't. I gotta tell you I'm not I don't know there's you know and their relationship. Relating to the Quincy hospital. Was being taken care of through Martha Coakley. I would just say that I would challenge the new attorney general to step and and to do something about this because. I don't like the way business was handled between Stewart. And Martha Coakley absolutely I just. And I am I'm not saying it did that something was wrong. That they were doing something wrong. But I they certainly were not transparent about what they are doing not in anyway so I think it is time for the new attorney general to step in and say Stewart. I wanna see the papers and I don't see the papers somebody's. Some users are paying the price because you're a 161000 dollars and you're gonna it was a thousand bucks. Every week from this point forward continued. Until we. I'm surprised it that's all the fine news I know it's not a thousand bucks well I mean it feels like after a certain point in that it's not he's not slap on the wrist at their 161000 that's what you'll pay it you know what I think he's gonna happen this is Ike. And did this is we're trying to. Now. How long do they think this can go on in and are they were good some back room deal on this too. Right it I have no idea and again I think look everyone else is operating on a level playing field you NAFTA was well. It's it's doesn't it doesn't smell right now not at all not pass the stink test something is going on here and I think it's time for the new attorney general its open say. Listen this is what's going on and I want everybody be made aware it's it's much it really it's. Interesting story that is for sure and of course we're gonna continue to follow that story because. You know we wanna see how this all shakes out teeth from stardom knew the answer he was the guy who finally got aluminum aluminum. We appreciate that very much when we come back we're gonna talk a little bit about attorney believed in the US and where the policy is headed stay with the survey you're losing the financial exchange. Barry Armstrong and comparative. Right here I had to exchange radio network. If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Fourteen to. Securities offered through securities America ink member finreg SIPC an advisory services offered through securities America advisors and Barry Armstrong represented their arms and advisory group in the securities America companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of the professional familiar with the laws in your state. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quick they would your assets be depleted if he had to write checks to the tune of 111000 dollars every month well it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice a lot firma crushing into Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide in learn how to protect your assets 8668485699. Don't impoverished your spouse or use at your kids' inheritance coughing you're free procrastinators guide right now at 866. 84856998668485699. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of deposit or CDs leader bank is currently offering an eighteen month CD with the impressive. One point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent AP why call 8776917900. Today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more with the bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings rate subject to change without notice member FDIC rate effective November 4 2004 team. Hi I'm Joan Lunden and appear worried about your parent Carol Loveland living alone like I was. And you are reliable senior care information. And call a place for mom. The nation's largest senior living referral service you'll get free information on assisted living and alzheimer's care nursing homes. Even important financial information. They had obviously researched every place not just given me names. They found me placed her which she could afford and it was magnificent. We're now. Very confident that she's safe and they just helped every step of who can't hit them. So if you're struggling to. Find reliable senior living information call place for mom this is a free service and you can trust them to help you. If you are struggling to find reliable senior living information for your mom or dad. Didn't call or go online to get the free help you need during this turbulent time call now 804677530. 804677530. Text your questions or comments or 68688. It's Barry Armstrong and Ken Kerrigan on the financial exchange radio network. Welcome back everyone to the financial exchange were certainly happy to be doing back there see that she is from Bloomberg. And she is sound panic story. A cover story on Bloomberg business week this week this is really terrific and were so happy to be with this clip thanks for joining us. The title of this is terrific and it's. Can the US ever fix it's messed up maternity leave system. And die as a woman who has been on maternity leave twice. I understand a lot about the systems so look I'm just gonna ask you that question can we fix this mess. You know I think too weak hand the question is are we going chaos I think that is is the real problem here you know there has banned. Bill introduced in congress there's been one thing that's the thing for the planet am house actually since 2013. And they just haven't done anything unless it's. And I think that's the case. You know I think they'd have a lot of other issues that they don't work you do that as a ticket to lend his paid attention to the meat is aware and that is something that while it has widespread support among both Democrats and Republicans and the new poll voters men women and men. And actually. There's just not a high priority for congress and how it it seems like it's just not a political battles that are. They're willing to I am an actually Hillary Clinton admitted that in an interview. Earlier last year at. Right right which is really amazing because I mean it has an effect on 50%. Of the working population at some point or another maybe that's part of it it's because. You know it's sort hit mixed. Yeah and I could actually connecting get it affects pretty much everyone I mean this is an issue for both mother and father is does disproportionately. Affect women because that it lands by a solid biologically hard giving birth and spent charity leave. It's not something that is. You know paid maternity leave is not available in the US but the the company that that congress tackle it. Yeah sure so what are some of these bills that have made their way. On to Capitol Hill what what are they suggesting what is it that those who are in favor of some kind of uniform bill oh what do they wanna see happen. But I'll back up for like second and just sort of let you know what we have right now I'm that there is something that attacked. In 1993 contest at camp and Medical Leave Act can lead allows workers. Twelve weeks of unpaid. Leave a year. But Dolly sort of stipulations like you have to work for a company that has fifty or more employees you have yet been their for at least theory have to be pulled timed such that it only applies to a little bit more than half of all. US Parker's. And that's what we have. And then it has been proposed. Is a bill that would I do almost everyone. And it blade include a small payroll tax that. You know. I think it's like point 2%. That's really small that you would get 66% of your paycheck for three months could beat her mother and father is after they had that child. Sure how does this compare even that proposal to the rest of the world. You know I had three months is not very long that it's. You know perfectly fine men and some countries you have that but you know that you have a country like Sweden that actually offers mother about it stick in months it's. 80% pay but he has played and had the completely different tax system and everything and act as a I think that's something that is not can actually happen here but I mean. We're looking at up Australia Canada. A lot of European countries offer up to a year. And employers who. How are they responding to this idea. Well it's interesting because I ain't historically whenever we talk about Heatley in the country and had to argue about it there is just back from the surface especially small businesses that played out that. You know if you only have a handheld workers at a bunch of them are on prolonged period of time for whatever reason and it's hard for them. That's interesting as California actually passed something in 2004. And DeWitt that they did it. It that the tax that and plays rather than businesses it gets funded through the employee's paycheck and actually 91% of businesses have reported and plan. That that either has helped or had no effect on their profitability. And DOD interest and yeah yeah. So we think the chances of there being some kind of uniform law that would. Provided some kind of paid leave will ever get through. But I will be very honest they had I think in the next few years I'm probably slim. But when I talked to pay big advocates a mansion that. I'm that the type of women who are having children now our next play the thirty to may come from the generation where they. Just expected that they would have careers than they expected to get to work out for them though that Wednesday. That's sort of confronted with that cold reality and their much angrier than. Impeded generations whereas others and that larger. You know. Calls for change that that the sea change happening it takes a long time obviously to to get things are happening but they outdated equipment. You know maybe ten years or so we'll have them and. Gary Gary interstate and that's for sure Al. What what's the percentage of deep do you have any numbers on this the percentage of time employers to provide paid leave even though it's not necessary. Yes it's actually. Trading slam. The Bureau of Labor Statistics. Attacked with workers and that the companies themselves but only about golf percent of all working Americans have access to any sort of paid family if that include maternity. And also if you have a six Eleanor that you need to take care of them has you know very long illness or if he yourself. I the person who respect and that would be included as well. Chuck and clear what are women saying when they're taking maternity leave at this point they're not getting paid. On average how much time are they taking. You know advantage of that actually really depends on her it's who you are what search W happened how much money you stayed up it's. People who are and hyper income brackets even if there offered. You know a couple months. Paid apparently had saved where they were and they can generally of sport to take more. Its the men and sort of lower paying physicians who sometimes don't take leave that all. You know I would say it. A dilemma that I talked to and I talked about two dozen in the average is probably. You know Ford next week the and that is pretty short. Shark history is not Q1 other question is is directly related to paid maternity leave but. When you interviewed women who are pregnant and working did you find that they were experiencing. I don't know and I don't use or discrimination that may be a level of discrimination from their employer just by virtue of being pregnant. Yeah I actually I didn't catch that I will say that. Most everyone that I talked to did not encounter that out but I did talk to handheld planet earth and it's accurate and have electric or borrow and it's. Too felt that there and player. But happy that but the fact they are pact meant a few Mueller that they were scared to tell there boxes that they were pregnant and it turned out OK but it still felt that would get too weird. I am not supposed to be pregnant feeling and then one moment. That I talked to I'm actually that she believed her her company that degree is but she really is bad she may have been. Let go partially because and she had told the measures are meant. Sort of their attitude changed about someone who's gonna have children. I out of it that actually yeah. Very interesting well thank you very much he does some really great research. And don't wanna be sure to direct people will put this on our website by the way we'll put this article up on a website that Al Unser Rutherford on you back. Two this is in Bloomberg business week you'll see here you'll see the guy or a loved it that photo by the way on the cover. And say I'm Catholic and I can go look at it as it is it's terrific Claire thanks very much thank you happy that. Yet to get that you got to just if nothing else go look at the article is and honesty are that there's an article is fantastic. It earliest. Our let me throw out to let's see in other trivia question shall we think we actually. Now I don't think we didn't. Column. Bentonville Arkansas it's known for being location of the nation's first watch. Portrait into some when he had a hand in garbage dump actor no. Which factor is off guard at all. It is it does it involve garbage and all it does not okay Bentonville Arkansas Arkansas I think about this is a key if everything's about this. Should give him. Oh OK our little way lawyers are so Bentonville Arkansas it's known for being the location of the nation's first ones. Six basic thing is the text number a lot of now. It's very Armstrong and Jim Kerrigan right here on the financial exchange radio network. Investors searching for relatively little risk investments that can easily be converted into cash often turn to certificates of deposit or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent -- why call 8776917900. Today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and -- annual percentage -- -- 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member FDIC rate effective November 4 2014 this is very strong and. Joined today by estate planning attorney Todd let's keep from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day were talking today. About the different ways that you can only real state and Todd I want to ask you this one. What are the implications of transfer your whole C just take your home yet and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about this thing transferring it using only the state here. Kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light for states a year question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection I. I feel better about that. But I really don't like having the children's name. On any property for the following reasons one when you do that it's a completed gift to you've lost all control over your order anymore. I worry about if the kids go through divorce an ex son in law the ex daughter and when your house like. Number three is it you know Ali you know I don't you've now subjective and as you just said Barry took their creditors and doesn't necessarily have to be divorced does he could be a lawsuit business failure and could be any creditor so they'll basically that creditor has the ability to get the asset to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't. Don't do that. Our rate I've got some advice for you learn the best way to own and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668485699. The guide will teach you all about the risks and rewards of real estate ownership. Toll free 8668485699. If. You're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injured children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Or two to. Securities offered through securities America ink member finreg SIPC an advisory services offered through securities America advisors and Barry Armstrong represented at Armstrong advisory group Ministry's American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television for even the ads frankly that I hear on the radio I like to buy gold from a local institution that I trust I owned gold and I bind my gold points from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with. Branches in East Arlington Arlington center Arlington Heights of Belmont Burlington and Central Square Cambridge Baikal locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin. Programs 8776917900. Or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. Yeah. Follow him on Twitter I'd KK interrogate him you're listening to Barry Armstrong and Ken Kerrigan. On the financial exchange radio network. Saying maybe saving a few bucks at the gas. Overtime we have a lot more than a few bucks but it'll heaters that were going to be spending that money and other locations. Yes it does in here to detail exactly what some of those locations are. We're now joined by Jay FitzGerald he's a correspondent with the Boston Globe and it. Since day in terms of looking at what low oil prices mean for the American consumer generally we think OK low gas prices that's good for everything but. It's not the case and what won't start walking us through some of the areas that we may actually see prices go up. Yeah as. Oil prices and gas prices and these so old heating oil. Those are big big item that maverick council's budget but it doesn't exactly mean and translate into immediate. Pricing. Decreases for all items. For instance the airlines have not. Lowered. There there appears. Even though. Fuel costs account for about 30%. Of the overall expenses. And the reason is that this comes down to supply and demand. Wouldn't. Flights are cheaper or it means he. Or more writing there's some places cheaper. People and it traveled more and so therefore the demand goes up. On these products so this is a good time for airlines. The fuel prices are low and demand is increasing. So noble cause of supply and demand they all the another area is go to hell. You know hotels noble are operating expenses are not overwhelmingly driven by fuel prices like they airlines but. On when fuel prices go down people traveled more posts by car and buy airline. And therefore the demand provoked health services. Go up. And so prices go up so just to. A huge it's important component of all. Prices of fuel is going down doesn't necessarily mean that all prices will correspondent. So if you are an American consumer than in years you're saying OK I've got this extra money. And you know there have been studies that showed the average American consumer may have between about six and 800 dollars a year extra with lower fuel costs. A decent portion that is gonna get eaten up by some of these higher costs that you mentioned correct. Oh yeah yeah I mean particularly the classic it is travel. Anything to do what we're in the hospitality means. 60800 dollars bet that doesn't let you go while the restaurant that allows you to take connector weekend trip or even. You know flight somewhere. And you just have little actually pulled Elton and and that. Ironically is causing prices to go up because of that demand at Manhattan where the average American has more. Money available and as a result of growing up in buying things that tries of demands for certain products. So so what's a good Boston in particular because Boston already has in terms of hotels the highest hotel prices in the country since there's so little inventory. So if you have more tourism and more people trying to travel to Boston. Beckham mean significantly higher prices in Boston if you're trying to come here to visit. Yeah what underestimating it and when he has been. On hotel prices will. Buy about seven point 5%. In 2015 in Boston. Keep in mind they only recently I believe it was last year maybe 2013. They only got back to their pre recession cries of 01. Reason. But let respecting. You know demand movies or else services. Going up because Americans have more money in the pocket. The prices are gonna go up and so. Back quite a catch twenty situation. Similar. It is the deal with regards to food how much of a it's a typical goods cost is made up of energy when we're looking at food. When you look at food and restaurants. On it and comes out about the people portion of the cost is about 9% so. And he and you by the store at a restaurant you know the actual food. On 9% of that overall cost is attributed to energy and transportation the kind of and to walk on Wednesday. And as a result you know their prices can also go up and down according. Who. Fuel prices note that the problem with food is. You can also have crop failures. In hurt and you go to trial. You can have insects diseases and all those things also impact the prize to move so and so recently. The price of food wasn't it was running at twice inflation. And I don't even know fuel prices were coming down. What started seeing numbers coming out today that the price of food artifacts started to come down but. No they had to wait to come back it's going to be low most economists think that these fuel prices. The worst in the super low historically low even. Fuel prices. They're really not translate to other products for another couple more. NJ as you know as a consumer you looked isn't able why doesn't the price come down that quickly. And a lot of times just because you have such high demand to begin with the companies don't need to lower it as quickly as they raised it on the front end. Right exactly when. Don't you used the figure 608 underdog and statements and that's what do we at all. Stable or you'll and when build up their faith today knows is a big difference from last spring and you know I don't it's really at night in north. Or does that money go or not they in the morning on my wall. State in the bank account or an IRA account and spending it now. So give you go to approach restored you can buy you know and I you know cut of meat or. Maybe go to a restaurant just say yeah I'll have a little bit more expensive item on the mend. And so it again you're getting into. Daggers saving money but are also spending it the same time. And they increase the demand for some product and so. You have higher prices but it is. Even what the deflationary. All right we'll Jack appreciate it coming on with us and definitely some great information here we really appreciated today. Okay thank you group thank you very much for having me on its wishes. Absolutely that was Jay FitzGerald he's a correspondent with the Boston Globe and I think it makes it makes a lot of sense it does make sense bullet makes sense from business standpoint from a consumer's standpoint you know I think to myself ship its. Costing us money to get the Hershey to liquor store than why isn't it. Being passed on to make right because if he cautioned more money could be asked me. Just like in restaurants and just like hotel rooms and you know that. Like you usually this very clear you got a guy who got in and got about Richards do you have right. So that's that's not where we're gonna see the savings of save it can when you're driving. Because. Like to me that's for work and really. Definitely raise it is an NSA said he may even see higher costs and other places you know especially you know if you're driving somewhere and you're going in. Taking a vacation staying in a hotel booked a lot more people going to be doing that because it's cheaper to drive does that mean you get up higher costs on the back end. If you think about this though you can sort of have a certain level than that before like hotels and a lot of luxury places and a lot of vacation kind of because the last few years people haven't been equity that of those places have suffered there's no two ways about that so this is there opportunity. To McCain. Definitely at an end to look when you look at especially in the city of Boston and we have the highest hotel rates in the country it's hard to believe. But it's it's really due to a lack of inventories are a city of Boston. And so I think what this also can do. Is when you have all these other people coming in what they're going to be paying more for hotels put you look at other tourist attractions around here there was a lot of cases don't raise their prices necessarily based on demanded they say okay this season were raising their prices by 3% from nineteen dollars to 21 person right. Right you know absolutely. Aren't look at the fight everybody you're listening to the financial exchange and when we come back we'll. To have a little bit more about Arkansas. Would you like to. No we don't do book really are gonna talk about the is whether you would make book a trip to Cuba. A way I know what you're thinking uh oh we're gonna talk about that we can. This is the financial exchange. On the financial exchange radio network. Is your small business growing are you in need of a commercial loan hi this is Barry Armstrong from the financial exchange small businesses are the backbone of our community at leader bank we recognize your contributions and we want to help you meet your goals leader bank is a preferred lender of the small business administration and loaned millions of dollars to small businesses such as restaurants landscaping companies manufacturing companies and professional service firms call us at 8776917900. We take the time to understand your needs and we have a full suite of SP products to help your business grow among others our products include equipment financing business acquisitions and term loans for more information. Visit us at leader bank dot com or call 8776917900. To speak with a qualified loan officer are local decision making ensures a streamlined process and faster turnaround so you can focus on your business and leave that banking to us leader make a step ahead equal housing lender member FDIC. If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page -- reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Fort YouTube. Securities African securities America ink member finreg as a PC an advisory services operative securities America advisors and Barry Armstrong representative Armstrong advisory group Ministry's American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quick they would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance light tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't.