Sep 9, 2016|
Full Show 9-9-16 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and showed czar. You're exclusive look at business and financial news affecting your day you sleep your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck saga. If you woke up early this morning you've heard reports of an earthquake in North Korea. In fact it was not an earthquake it was North Korea conducting yet another nuclear bomb test. By some measures they were successful they ignited and nuclear bomb that was stronger than the ones that we dropped on Hiroshima. In 1945. Hi everybody Barry Armstrong and chuck is not a with you here on a Friday where we talk about. What I would say is a Black Swan event though many had anticipated that North Korea would continue to conduct nuclear test. Yeah they've done these for years I mean it's it's nothing new you never like to see him because obviously. It is a potentially destabilizing. Threat in the region but. It is my understanding that just about every major power doesn't consider. North Korea and actual threat and that it is more. Then Saber rattling trying to get some concessions rather. And they have a strange way about bill going about it but at any rate they're idiots the Asian markets the east South Korean kospi. Was down one point 3% on the news that I I. Particularly concerned about it because I have a son who's teaching high school. In South Korea as we speak so and you know if you talk to people I'd I'd never had much exposure to Korea before but if you talk to people. It is a and soul is in the northern part votes of South Korea. So at any rate that's that's what started the market's in decline. And then Eric rose Ingraham and continued. The drama. When he made it very clear that the Federal Reserve is at a tipping point and it's indeed the quote is it is increasingly. Risky. To delay rate this is Eric rose in the Boston president of the Federal Reserve. Making that statement and speech this morning that also helping to set the stock market on its year. Down and I'll tell you what that's done is in a span of about 24 hours really less than that we went from having an 18% chance of a rate hike in September of two or 30% chance so dirty and what about December. So December right now there's only 38% chance that we are still where we are there's a 47% chance that we all know that go back so 62% likelihood then does that. One ongoing I'm grown into itself there's a 47% chance that we have one hike and a 14% chance that we have to. Well I you know when you may look at that say oh my gosh the markets down yell it is the Dow down 160 points. But if you look at your financial stocks assuming you have exposure to financial stocks. Truck I took a look at a couple about ten minutes ago. They are up they're they're having a nice rally in fuel bank stocks they're rallying maybe should explain why a bank stock would be rallying on this news. Yep financials the other best performing sector in the market today and really the reason that you see that is because when you'd see interest rates go up. What is called the net interest margin and I am. Expanse for banks that net interest margin is the difference between what banks borrow lat and what they lend money to US so if rates go up a little bit typically what they do they're able to pass through just about all of that so that net interest margin. Widens and what they end up doing is they've been making more money than it's also. You know rates going up the sale they're gonna charge me more my mortgage well. Look if if you got them fixed rate mortgage that you've already locked in that I can charge more for getting new wind might go up a little bit. But the big thing is this might actually help to save people money we talked a little bit about insurance companies in the last. Was it last week or maybe the week before about how they've had to raise premiums reporters rates have been so low. Look if rates start going up insurance companies are going to be able to charge less re you know you don't. More profitable in the state insurance commissioners are gonna say to them hey you're making lots of profit time Puhn Laurie exactly. Exactly so there there's two sides to every trade and I think that's important to remember. What do talk about Amazon.com. Team think it becomes the a topic. Of conversation just about every day. Amazon's reach has grown so fast in the United States and American consumers could soon find it pointless to take a trip be too physical stores according to a note. Published on Thursday. By the financial firm Piper Jaffray which is a reputable financial research firm. Amazon now has a warehouse or delivery station within twenty miles truck a 44%. Of the United States population. That is up from 26%. In 2014 so let's think about that. In two years two years ago they had a warehouse with in the quarter within net twenty miles of the quarter of the population up. They are now at 44%. And rising rapidly they think. The Piper Jaffray thinks that Amazon.com. We'll have a warehouse within probably 7080%. Of the American population at some point. Yep and it's you know it's gotten the points all give you an example I'd ordered something. Earlier this week at its new socks right. Normally say okay it's the two day prime shipping and everything I ordered the Sox and it it was 8 PM on Wednesday night. They were here 9 AM Thursday morning wow. We're talk like twelve hour turnaround time. My dad does that golf balls he'll order golf balls he told me one day he ordered golf balls something like. 10 in the morning in the area at his house at two or three in the afternoon he didn't paper he's a prime member but he didn't pay me. Extremes just yeah the they are getting faster and faster and delivery services. Tucker what is our poll question today and how to our listeners participate our listeners camp participate by going to or website financial exchange showed dot com -- question today is simply do shop with Amazon. Yes you can go yes on a frighteningly regular basis. Idea I said yes yes is there anywhere else to shop to. Okay yeah I hate the animals you know if the EU I feel you don't you feel bad portal where they the small operators Z the the local retailer. But it's such a miserable experience I give an example. I as you know I'm a proud grandfather now and we were going to babies. Well first we had to go out and it go to the store and and pick out what we want it right up. And so we we selectively wanted me to order it then two weeks later came in. But not all that came its lead to go to the store we do we thirty minutes for them to find the first that your real in the back of the store and bring it out tour card than needed to try to stuff it into the back of our car which barely. And then they said oh we don't have everything that you ordered he gonna have to come back again. In two weeks so for me get this would be before that your rate and then I had to assemble it and put it together which you often times have to do if you order from. You know way Fred just killed two hours your date is going back and forth trying to load stuff in this and that so did you ever checked Amazon for the part you've got to be your babies. You should now and see if it's there idea and it. What happens though is once you get spoiled. By the Amazon experience makes it very difficult to go back into mall. Or go through normal shopping experience or what used to be in north. At the the other thing I tell you I registered for my wedding on Amazon. Like it's so easy for anyone can use and there's all kinds of stuff you don't need to worry oh Miley could be able to get so and so many things here and so. Everything's there. They is that common now among your generation to register and Amazon yeah I've seen it yet. Where did you have you registered architect at night it bunting in my Amazon. You're ticketed very good you clearly so my fiancee that we are sitting at a bar and we route literally just scroll through stuff cooking while we were. Out drinking at a bar. So what beautiful when we did our survey is anybody's said yet that they don't shop and Amazon.com I know it's a 100% to hassle for. Speaks of is that they do say that if they say they don't shop there their line. We're gonna ridicule them and then. 68680. Is our text number Barry do you have any comments regarding putting existing life insurance with a cash value for my wife. And me into an established your vocal trust there are some tax laws on that you have to be careful six point seven. When you. Transfer an existing life insurance policy into an herbal global trust Agnes say there's some negative tax consequences to doing it to pay. Ends on how you do I'd certainly consult with the CPA. This is their may be some ways that you can do it depending on the exact type of policy and so forth but you need to be very careful because transfer of ownership can result. Taxes well but the other issue I think it takes like two or three years before becomes tax free benefit again and I just don't remember him apologists excellence and up next we will be joined by author and senior contributor to CNB CMR Larry Kudlow. Are we talking to Larry. About the economy what else he's the best economists we have on the show he joins us next from our insurer match back on studios who. How all the upcoming election affects your finances and your business find out right here it's the financial exchange on the financial exchange radio network. There are strong here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of an employer sponsored retirement plan did you know that upon death your irate kiddie tax four times all diaries are taxed at state and federal income tax rates but they're also taxed like federal and state death taxes that can mean that is a little as 20% of your retirement plan will be passed onto your -- we're giving away guide that will teach you how to avoid excessive taxes on your IRA and it will also give you guidance as to the beneficiary designations on your retirement accounts imagine if 80% of your -- was lost taxes call 803934001. Call now 803934001. Or downloaded for free on our website financial exchange showed dot com. Dirty suffer through securities America incorporated numbers and SIPC advisory services offered through securities America advisors incorporated are strong advisory group in the securities American companies are not affiliated please consult with your qualified tax expert pre tax related concerns. Today the senior citizen has a one in three chance of spending time in a nursing home is your plane to give your home another acid steer kids in order to protect them from the cost of long term care. Do you feel about asking your kids permission to sell your home or spend your money. How'd it feel to lose those assets to your kids divorce or other creditors there's a better way to keep control while protecting your home. Call the office of Cushing in Dolan right now to request their brand new guys -- the states vs a reputable truss they'll teach you gotta protect your primary residence your rental properties and even your vacation property this guy will also show you how to avoid probate keep your money in your bloodline and potentially eliminate estate taxes co lead 668485699. Or download the guide for free by logging into legal exchange showed dot com pushing him Dolan has been helping families like yours for the past thirty years called to see if they can help yours 8668485699. That's 8668485699. Or visit us online -- legal exchange showed does come. Hi everybody very Armstrong here from the financial exchange and I'm joined by. Leader bank does a tremendous amount of mortgage loans as a matter fact I've used them a couple times to refinance properties in the past. Jake how's the mortgage does it it's been an extremely busy Barea. There are a lot of people buying homes so that kept the purchase market very very busy and on top of that racers to an all time lows so we've a lot of folks who are refinancing their homes either get a better rate Orr reports some cash out because of properties preach. That's us and ask you how does somebody know where they should call to refine. Well you know. Dude there's really 22 ways if they feel that the rate can be improved. Eviscerate. And you know thirty year fixed racer all time lows. If you have anything in there in the 4% range frankly give its rate in my view do you something. Or if you need to take some cash and of your property wondered for a college tuition for kids or you guys have home equity lines of credit we have home equity lines of credit as well and the cool thing about that is. If you already have the green reader on your first mortgage you know home equity line of credit which will leave your first loan as it is allow you access the equity. Makes an awful lot of sense and you've got fifteen year fixed rate mortgages by your adjustable rate Mort all types and hopefully we we have all types of that in addition to that were actually very active Jumbo and yourself. As properties have really appreciated in the markets in Massachusetts. There's been higher demand for Jumbo loans that we do a lot of that so last year Berry were actually not the number two home purchase letter Massachusetts. If for you congratulations. Folks that's digitally from leader bank they can be your mortgage bank call them toll free 8776917900. You can check out all their rates on line at leader bank dot com. Or you don't talk to human being. Give ma call it loan officers standing by right now 8776917900. That's all free. 8776917900. Securities are securities America member in PC. Or are securities America buys on represented our target recruitment securities America companies that. Jacob field new financial exchange showed dot com take part in our daily poll question and stay on top of the latest stock market trends it's all in one place financial exchange showtime come. We're joined now by CNBC senior contributor Larry Kudlow and author of the book JFK and the Reagan revolution. A secret history of American prosperity by the way I just went Amazon.com. Ordered a copy for my father. And I hope he's not listening is in the mail John F. Kennedy was the first president since the 1920s. To slash tax rates across the board. Becoming one of the earliest supply siders joining us now is the author of that statement mr. Larry Kudlow from CNBC I don't Larry. Great thank you buried in doubt that that's good. Exactly right I appreciate it. Well yeah here's a question I have Korea and we're gonna put your economic mind to work here on Friday morning. We had time to look at the jobs report in this state of the economy. Help us understand why even unemployment rate of four point 9% which normally I would look at in a plot it's hey that's a terrific rate of unemployment. But the U six is still stubbornly high. And much why it is a much bigger gap than there's and then I've ever seen before why is that. I've I think one key reason is. I don't know. Fourteen million or so people have left the labor force. A lot of that is just discouraged because there has been about the economic growth to create jobs. Some of that is. Federal government. Welfare related assistance. Have been very generous were creating too many not working Adams. And at all browse down through you know 10% growth the 12% growth does not really. Create new jobs board new opportunities so you're quite right the use six under employed. Almost twice the use three. Under unemployment rate I think this I already got look at these six and people on the other side might disagree but let put this together there's a mosaic that is very troubled. We are headed business recession and I'd be. You know I've talked about it. Profits are down but straight quarters on the GDP reports. This is that minister out every year productivity is down. Factory orders down. You're looking at a business recession. And therefore. I think these jobs slowdown. Which have seen I mean it's catastrophe. But in round numbers. A year ago or more we were but not too much and 50000 new jobs our dad about it it just. If you if you companies are not profitable barrier not gonna expand -- create jobs as always those people late report. I think we have by the way we need to. Eight JFK Reagan tax cut I really do I think strictly a business tax cuts are very important but my concern is stocks are overvalued. Because of the lack proper exit big. Larry you you mentioned that we're in a corporate recession what are the odds of thus entering into or recession next. You're proper that's an important question and I don't know that my crystal ball today better than anybody else's but I think about thirty billion by chance percent chance. Recession but this has this signal first. You know people always talk about consumers there 70% peacock. That maybe true but it doesn't really tell you that story if you look under the hood. And as new measurement coming out of the Commerce Department. The business to business activity supply chain activities really been slumping now for well over years so. Well I'm not saying it did business recession. Could turn into an overall recession. Unless these trends are reversed not sure exactly what's gonna reverse and by the way of quarter point hike and a that such rate is not help anybody out of that important didn't have that issue right now that's a regulatory issue there have been attacks issue. And done we're just gonna have to wait this out. What do you what did you make of the European Central Bank yesterday they didn't ease any further were you expecting them to do they shoot themselves in the foot by holding the line. I don't know I. You know all that monetary easing negative interest rates. I Askgreta doing more harm. Or good good glad that you've reached the point of no return haven't. It was gonna work a little work you're sort of bad recession. Across the the best economy has Britain. Ireland. That book is out. Now as it drag news partly to take a look at the situation and by the way I negative. Interest rates are very hard. I agree I Mary I think we're gonna look back at this in twenty years and say what the heck were we thinking. Brad that's size Iraq and they got to pay us. They pay the government pay attention bank to use money that's just so anti credit anti Atlantic. So what is your rate but even worse. And help Japan has felt your soak. Probably jagr just seem like a Smart guide me he knows the problem this recession and inflation gets. He may understand frankly it's died monetary. Or fiscal problem and throughout Europe they've been increasing regulations. At all other business taxes alone there. Which is a good thing nonetheless they've been raising their back taxes. And so that's not a good thing. Right rights told. Larry when we worked out periods where we've typically had a strong economy in the past there's always been one sector that is there's has kind of led the way in the nineties you had the tech boom that was really revolutionizing things that early 2000 he had. The energy boom as you started to see more from moving to fracking. What industry do you think he kind of take things over over the next decade. And really start to lead us out office. Well it's a really good question and it's a tough question. I mean I think they area of technology in general. I guess social media as part of is going to be a leader for a long while. Kennedy's important you know the energy to a home. Really came later it was really the energy loan words. The last five years yup or prices collapsed that was part of a practical Wichita opposite technological than. So I guess I would say technology. And I I don't kid manufacturing outside. Of energy. Social media and may have run its course okay. Now he hit drives up and then maybe some very big changes healthcare and Obama. That they re scrambled without food for all of those doctor Gupta respond very well. That may not do so well it depends. So I don't know what else to pay construction. And Alessio big crowd. I mean if you could JFK Reagan tax cut on the supply side. They're allowed to activate the watch the cut that development department and its slump that would give everything that boost you know every business with better. No question about that that's the point black. One point 2% or less. That an engaging viewers what we need now report by 6% growth. Just attack. Just just to catch up for the bad yours Larry. Yes that's precisely right we never had the big spring back we've bat that we showed that Larry and I think. We go ahead a week we appreciate your time you're gonna jump out of the day thank you very much for joining us back to perhaps. Larry Kudlow opera of the book JFK. And the Reagan revolution. He secret history of American prosperity forty or cover your copy Amazon.com if you're so inclined you know also picking up in your local bookstore. Trivia is brought to you by Arnold's lobster and clam bar located on US route six in east ham Massachusetts. Arnold has a great rob Barr lobster rolls fried clams and two replica new offerings and nearly Jeff Susie has won the Cape Cod stopped claim contest for the second year in a row. Call 5082552575. Or visit them online at Arnold's restaurant dot com if he is gonna be old. 66 years ago this week Joseph Perry. The lead guitarist for the rock band Aerosmith. Was born in Lawrence Massachusetts. To be doing tribute today about the rock band Aerosmith. In which year did Aerosmith. Release there bowl their self titled. Debut album 68680. Is our text number this is the part that makes me fuel. In which year did Errol Smith release their self titled. Debut album first listener with the correct answer wins a fifty dollar gift certificate to Arnold's restaurant. And again our text number is 686. ED. Using you know who Aerosmith is of course heard of them I never heard of pay up next we are talking about the greatest invention ever. I'm talking about burritos being delivered by drove all from this guy insurer match dot com. Making your Smartphone even smarter. Come the no mobile lab by surging financial exchange okay nice to Jordan who. Who played store. This is the financial exchange radio network. There are strong here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of an employer sponsored retirement plan did you know that upon death your -- can be taxed four times all wire razor taxed at state and federal income tax rates but they're also taxed like federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed -- -- your airs we're giving away guide that will teach you how to avoid excessive taxes on your IRA and it will also give you guidance as to the beneficiary designations on your retirement accounts imagine if 80% of your irony was lost taxes call 803934001. Call now 803934001. Or downloaded for free on our website financial exchange showed dot com to. He suffered for securities America incorporated number and SIPC advisory services offered through securities America advisors incorporated Armstrong advisory group in the securities America companies are not affiliated please consult with -- qualified tax expert for any tax related concerns today the senior citizen has a one in three chance of spending time in a nursing home is your plan to give your home another acid steer kids in order to protect them from a cost of long term care do you feel about asking your kids permission to sell your home or spend your own money out of field to lose those assets to your kids divorce or other creditors there's a better way to keep control while protecting your home. Call the office of Cushing in Dolan right now to request their brand new guys like the states vs a reputable trust they'll teach you gotta protect your primary residence your rental properties and even your vacation property this guy will also show you how to avoid probate keep your money in your blood letting him potentially eliminate estate taxes call 8668485699. Or download the guide for free by logging into legal exchange showed dot com fishing in Dolan has been helping families like jurors for the past thirty years called to see if they can help yours 8668485699. That's 8668485699. Or visit us online -- legal exchange showed dot com. If you're looking for a great deal on a new account or program you should check of the zoom rewards program leader bank is now offering it and checking account along with the companion savings account and as long as you qualify you'll receive three Democrats. 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The latest financial trends in the -- place it's the financial exchange with Barry Armstrong and chunks not a on the financial exchange radio network. Harold Smith released their self titled debut album on January 5 1973. The record included. Songs such as dream on and vomit and over the years Aerosmith has become the best selling American hard rock band of all time. What are on this question was Peter Bart will Peter takes away fifty dollar gift certificate to Arnold's lobster and clam bar located on US route six. In east ham Massachusetts their leads Jeff Susie has won the Cape Cod stopped glam contest for the second year in a row and get down to Arnold's in check out all that great food for yourself call 50 wait. 2552575. Or. Visit them online Arnold's restaurant dot com for more information. All right I wanna remind you that Cooper has self driving cars on the road in Pittsburg Pennsylvania. And now alphabet. Has announced plans alphabet by the ways Google. To use drones. To deliver burritos. To a small number of staff and students at Virginia Tech. It's a limited test of the tech giant's ambitious plans to quicken deliveries with unmanned aircraft. I got Italian. This might make it worth the trip to Virginia alone just to get a burrito delivered by drone that tonight early any burrito violate is a chipotle the very future is here. What did you it is delicious. The what they're doing here is really cool with the BB it's not a triple east the war it's a chipotle track. Right in the drones are on the top of the truck right it's beautiful you attach the Alito to the drones. And then the drone. Flies over to the dormitory who's flying the drones. Guy in the truck. You're going to be good pilot yeah I thought well that it to your point though you you have to now be upon rate track in the you have to go to through the classes. As an FAA course that you have to hate it's it's not as rigorous as the regular pilot training in anything like that but. It's ugly it's like a weekend course at the detail 150 dollars but this is this is just beautiful when we talked about like how technology is actually making lives better. Burritos falling out of this guy is like the first thing that I have Bible like. I thought irritating when they said memory reported New Zealand delivering Domino's pizzas by chrome O it's real it's like. Think you think about how great this is you know you say you know what. I'd really like to burrito when I get home I'm gonna order one. You pull into the driveway you walk out you stick your handout a burrito false from the sky right in your hand. Right into your hand what has society come to and beautiful at all it. I did think about what this like to car traffic on the wrote. Yeah right bit like it was the seven impact upbeat you don't really going to be accuracy when shields over for. If you go to Canada who was at that fly paper stuff. I want to see what happens to shopping mall traffic descriptions. On it this is going to be fascinating Christmas but does the bulls I think are being eclipsed. Very rapidly by delivery services like games are used to go to the malls like the there's a mall. Right opera 95 and it would be so backed up that the traffic would be route backed up on a on yeah. That. I wonder whose days are gone. And one girl so shopping habits have changed but anyway. Guy Tucker Tucker was so impressed by that story he booked a special guest to join us on Monday yet to talk about the more effective than deserving. I'm going to Blacksburg over the weekend are clearly not change our plans yet. That you get there you go I thought that the app on Blacksburg. Thought that the they would just goes to Blacksburg I don't know what going on their side from Virginia Tech so very. Like the states you know a lot of people use like the states and this is a message on behalf of Cushing handle and they use a like the state. In order to transfer their ownership interest in there whole rumor that vacation property. To their children or even their grandchildren the difficulty with that is the biggest give an example let's say you transfer your home to your son. And he now owns your home you have like this that you're allowed to live there as long as you want. Your son get sued and has a judgment placed against. While sudden you'll still be of the living your home but somebody else has been owned it. Cushing and Dolan is making it guide available team it's called an operational guide to light the states. Verses irrevocable trust how would you rather protect your home from a nursing home. If you'd like to get a copy of this guide call 8668485699. That's told free. 8668485699. It's only available through Cushing handle and it's free and it's a comparison of the benefits of using elect a state vs the benefits of using interval will trust. 8668485699. Yesterday during our show chuck we saw. It was actually right after we went off the year we saw fairly significant. Increase in the price of oil I'm gonna say oil went from like. 45 dollars a barrel to 47 dollars a barrel based on some inventory statistics yet. Yet when what we've seen since then is the price is actually come back down actually even though. You could see a decline in US oil stocks you know connect. This was you know eat you saw effectively prices rising. At 4% over the course of Thursday in but I think there's you know a lot of concern that you might not have. Quite the demand do you choose hurricanes potentially oats. How about that is that the what they saw was the oil stock fraud it was rap isn't music fourteen million there which was a lot. And I regret that. But then the there are stories circulating member we have hurricane her mean. That turned out they didn't really do Michael what didn't Ford. End and so what you had were a lot of the ships were stuck in the gulf and off the coast and they couldn't get off they could not board near the oil so. Now we hear or see is yet yeah I had a big week of inventory draw down but you'll probably see that inventory build up during the next thirty days. How much it's also due to the and bankruptcy. Yeah he's still the ships and tankers also that might be stuck offshore and you oil or just cargo they've got both it's mostly cargo but I know they've got some tankers and their maybe some sitting there they can't unload and know with a lot of that cargo. Pivot they've they've been sitting imports they can unload it you their problems they get people they've got personnel on the ships. That are running out of food. On the hand and trips it's a real problem the they have like two days left where they have foods in a lot of cases they can't just go on short they don't have proper visas and anything like that so it's it's amounts indicated food out to it's I end times drones could be droves there. Oh yeah and a domino after a. Her approach to the answered all of our problems. Apache shares rose yesterday after a discovery of oil now this is in Texas. But it's in a very peculiar spot of Texas it's in south west Texas I think they discovered at least three billion barrels of oil. Yet I don't know exactly how much but they're saying this is a 300000. Contiguous acre oil field they called oil oil field Alpine high which sounds more like a strain of marijuana yes and anything else I don't quite understand why that is the rationally I would think who smoked it. It Alpine high oil doesn't get much better than that. But they are actually going to be one of the few companies that he's increasing capital expenditures they're actually going to be increasing. By about 200 million for the year. And re raising their full year capital guidance to about two billion dollars that they're actually going to be. Boosting Comex at a time when just about every other oil companies cutting. I think that's gonna payoff for the long. Why do too they did ten years from now I can read about Apache in their stock went up but what's peculiar about this find of oil it's right on the Mexican border. If you look at our map. And you look at that 300000 acre patch it is right on the Mexican mortar Britain which makes you bay it begs the question. How much more oil is there sitting in Mexico where it's a couple miles over there you know EE EU we don't know the answer to that I I thought it was very very curious yeah. If you own a Samsung phone you better not try again on a plane. FAA has urged passengers on the Samsung galaxy note seven. To not bring them on planes are actually gonna be checking for them and they're actually going to be kid who put him in your bag you know that they're pretty much going to be searching bags for these estimates are out stone them because there's chance they might catch fire in flight in baggage in particular. It's actually more dangerous to they might not even know that anything's on fire until. You know it's too late. There I saw picture of a car on fire in the fell had a Samsung notes seven he was charging it in his car yet in the car exploded in flames. And it's what they do these folk to make it if the recall two and a half million of them. But the big yeah here's the big problem but when you trading near the lead you trading would you do if your old phone. After ordinance or. You do your traded in a keep not keep it like it's somewhere in this house fails you know I have a background shadows either give mine away yeah right traded him. So if you're Samsung note seven owner woody do you use the minimum turnaround to get that battery replaced. Two weeks. Well and and look people you can criticize apple for an awful lot of things you can say that you don't like their interface in the way they restrictive. But their phones don't blow up. They're well it hasn't happened yet is that new feature for the next one well you know yeah just I just point that out never you know if you'd. Never throw rocks if you never know when it's gonna happen to you. Probably watch him cook didn't come out to a smoke smoke machine built out of galaxy note seven dollar he you know he Andy didn't make mention a word about he didn't have to. Because we're talking yeah air everybody's talked about it is that he can let us do all the dirty work form. But the FAA banning them is a real problem percent so. I'll bet. Because then they'd be you know then it's not going to be just then it's going to be. Also in hotels are gonna ask their clients or do you have Samsung notes seven and train is seen taking the Amtrak there's a while. We don't want anybody with the Samsung knows 78 year gonna be. Discriminated against based on the type of polonium. And think about this if you are a job business traveler. All of a sudden you've got to get a new phone right now. The bureau two weeks at the big question to you what you do your daily you're gonna go pick up an iPhone you have you know knew right Lola writes. But here you PP these Leonard boxer at Samsung notes that these underdogs well there's good there's going to be lawsuits from people I mean it it's this is going to be messy for Sampson this is a this a major mistake. That's excellent is that we really need to say that. Six or seven says didn't Saudi cut production last month no they actually increased production that they did decrease their discount that's probably thank you excellence. Pay up next we're going to be joined by David Healy logos from Suffolk University he has brand new. Polling data coming out of North Carolina for those of you who are trump fans are gonna love what you hear next from DP. And our insurer match dot pounced. Money doesn't really dark but Berrian chuck do you got the financial exchange on the financial exchange radio network. Where you go away. You going to I'm. At our notes there are three kinds of ball. Artists around bar with oysters clams and shrimp uphold the. But Jason to the amazing mini golf course three bars no waiting well. Maybe a little waiting but worth it Arnold's son routes six and he stands. What are your goal. Today the senior citizen has a one in three chance of spending time in a nursing home is your plan to give your home another acid steer kids in order to protect them from the cost of long term care. Do you feel about asking your kids permission to sell your home or spend your money. How'd it feel to lose those facets to your kids divorce or other creditors there's a better way to keep control while protecting your home. Call the office of Cushing in Dolan right now to request their brand new guys play for states vs a reputable truss they'll teach you gotta protect your primary residence your rental properties and even your vacation property this guy will also show you how to avoid probate keep your money in your blood letting him potentially eliminate estate taxes call 8668485699. Or download the guide for free by logging into legal exchange showed dot com Cushing in Dolan has been helping families like cures for the past thirty years kobasew if they can help yours 8668485699. 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To learn more 8776917900. Collect your rent electronically makes an awful lot of sense to me the phone number again 8776917900. Or visit. Zero rent dot net. Become a member of Barry's brigade at the all new financial exchange showed Don come get the business and financial information when you wanted sign up today a financial exchange showtime drama. Everybody and their brother has an opinion about the upcoming election and seems like everybody and their brother has a poll comes out. We're joined now by deep paley logos we have them on our show because he is the best. Poll are in the country bar none he's always act your a 100% act straight and in my. Pressure pressure enough about it every day I idea reason I give you credit is because you never let me down. You never EU all the as long as I've worked with you you've been spot on and you recently did a poll in North Carolina share the results with the so if you would. Surely we have we have Donald Trump leading by three points. 44%. To 41%. Gary Johnson the libertarian is giving 4%. Undecided is 8% 3% refused to response. And I should note that Jill Stein who. Is in consideration and a lot of the other polling is not on the ballot. Carolina. So we did not include her in North Carolina ballot test question. What are the demographics. In North Carolina. You know it's 40% registered Democrat. 30%. Registered Republican and 30% independent when you think about that he'd say oh my god this should be a democratic state. Historically. It except for 2000 and maybe it doesn't trend that way and I think that's because even the Democrats. I don't know if Carolina are pretty conservative and independence elect Republicans so. Although the party registration numbers tell you one thing on paper. It's a much different thing in terms of this sort of the county by county preferences of the likely voters. So what are the big issues in North Carolina would they care about. In it in in North Carolina. Well obviously jobs economy. Or right right in your wheel house is that number one issue and it's. It's favored by 24%. Of likely voters followed by. Terrorism and national security. Which is still polling high at that 21%. So it's still on the minds of voters. Choosing Supreme Court nominees was third at 11% and then had a bunch of issues. Sort of the high single digits. Including illegal immigration schools and healthcare. What about the senate races down there you heard the senate race in north Yahoo! gonna win that. It's close it's if it. You know. He he do it it's a good news bad mr. Russo sir Richard Burr the Republican incumbent senators Paul what percent. Deborah Ross the democratic challengers that 37%. Or percent Barack. Chalk talk the libertarian as 4%. Much higher undecided race 60% 3% used. Interesting thing about this race is that indeed earth is winning. But 45%. Of likely voters have never heard of the Democrat. If she's still only trailing by 4% and that speaks to the court democratic voters. For progressive voters in some of the urban areas African American voters who make up. Over 15 of the total vote who'll vote straight democratic. And so she's benefiting from that but. She's really not well know so that's a good bet that's good news for her in the sense that she can help shape. Voters' opinions of or it's bad it is in the sense that Burke which shape. Their opinions of her too because nobody. Not nobody but I almost after the people harper. David one thing that I was looking at a couple questions that you ask US whether people consider both of the candidates to be honest and trustworthy and appears that. Compared to some of the previous polling that you've done and other states. Donald Trump score a little bit higher than he has previously and Hillary Clinton scored a little bit lower is that does that match up with what you've seen. Did that that is true I mean it is not good not missed were either can't help it but you're absolutely right in the in the older polling if you wanna call 23 weeks ago. Both. Hillary Clinton and Donald Trump had untrustworthy numbers in the high fifties. In this poll Hillary Clinton had just under 60%. And untrustworthy number that is people responding to do you think Hillary Clinton is honest and trustworthy that's about number for a 60%. Untrustworthy and trumpet had a 50%. So his number has come down wasn't high fifties. In and but again the North Carolina voters much different for example battleground states like Pennsylvania and Michigan. The they gave you know a week ago he shared your national poll this and I think it was Clinton up ten points but polling since then. From other companies is coming in you know showing trump ahead nerve maybe Clinton up by one or two points. Why did disparity in the polls. Yet it's a great question. Within a short period of time we have actually Clinton. I'll winning by seven and in and have trumped by two and a lot of it have to do with this sample for him a lot of it has to do with them make up for the voters. That pollsters are expected will be composition of the electorate on Election Day. And sometimes you can factory Ford sometimes you can't every poll has a margin of our appalled that we released. Was taken on the 24 the twenty the market though. We have we have we had to hold apple a couple of days for the US stated a publication that mind. So I think this CNN poll was more it was more current. And so I think you're right I think the the races have been trending in a bit North Carolina poll is any indication. The numbers are trending in the battleground states I mean a perfect example was yesterday. You know we released to track by three quinnipiac had been Hillary Clinton by four. And North Carolina. And there are there were two good reasons for that for the differential we get up poll. Monday through Wednesday in the three day period. Their whole period it was a ten day period. Which went back to August 29 so they were making their calls over a ten day period for the completion of their people always I think was more current and and I think proportionately. You know I was sample sample for him model at least according to other resurgence were compared both polls yesterday. Agree that. You're able to get out but thank you very much for your time as Dave pale yellow that Suffolk University from our insurer match dot com city. There -- -- here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of an employer sponsored retirement plan did you know that upon death you're hiring a kiddie tax four times all fiery surtax that state and federal income tax rates but they're also attacks by federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed on your airs we're giving away guide that will teach you how to avoid excessive taxes on your IRA and it will also give you guidance as to the beneficiary designations on your retirement accounts imagine if 80% of your IRA was lost to taxes call 803934001. Call now 803934001. Or downloaded for free on our website financial exchange showed dot com. Series offers you securities America incorporated numbers and SIPC advisory services offered through securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated please consult with your qualified tax expert for any tax related concern. 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And herbal herbal trusts Todd what happens if you happened owned two properties you've got. Vacation home on the Connecticut shore. And your primary residence in Massachusetts somewhere chart and your thinking. Gee I just satellite for staking you put it like the state on more than one prop. Party at a time you know the answer is EU can't you can hand but you're not gonna get the benefits are thinking so you're allowed how communities they'll tell yep lights on you know both vacation and go home but when it comes to protecting that home from the nursing home which is part of the reason they're doing that the only reason like just arrangement you're right it's the only reason -- at that moment when you apply for Medicaid after five years have gone by remember you still have the five year waiting period when you create these like the state arrangements it's not overnight so you create it in five years has gone by and then you apply for Medicaid if it's your home the home a special. The whole would be non accountable and therefore your life the state peace and would also be non accountable but if you have a vacation home in which you have a life as they piece in the U capped. That portion which still be accountable so. You don't credit to the remainder piece that you gave away even on the vacation home would be protected. You still have that problem with that like the slight tendency peace so yes she can. No I wouldn't do it in two properties and our also be very careful how you create them. Market you know using a light the state could be a very expensive mistake. Cushing handle on is making available guide for the month of September it's called the comparisons between like the states and durable global trust don't make that expensive mistake call pushing and Dolan told free. Their phone number is 8668485699. Toll free 8668485699. Like the states can be an expensive mistake don't make it 8668485699. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means of faster closing co lead 776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Hi I'm at London and you're worried about your character 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 home even important financial. Information they had obviously brie searched every place not just given me is. They Downey plays for which he could afford and it was magnificent. 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You're exclusive look at business and financial news affecting your day you simply do. World stay informed and today about economic and market trends plus the breaking business news. And now the financial exchange with the Barry Armstrong and sharks. We are in the midst. Made broad based stock market sell off that we haven't seen the sell off of this magnitude in quite some time. Hi everybody very Armstrong and chuck saga. Joining you on a Friday where the Dow is down 194. Point. Everything. Well I'll tell you not everything's. We and one thing that may be holding up your portfolio if you're looking at it right now. Is financial stocks seem to be doing pretty darn well that. Still down a little bit. Still that a little bit finance sector still down about a half a percent but are they okay I'm looking at just a couple of individual stocks. But I'm looking at Bank of America and their up thirteen cents. So I thought the whole sector was up but you're saying the sector as a whole is down. Sectors sectors coal is down about half percent at that the broad market if you strip out the financial sector down about one and a quarter. Woodward Wells Fargo was doing today because they just. Yeah I got dragged through the mud in there down. They're down eighteen cents Louis story we're following on Wells Fargo is they're paying a fine of 185 million dollars which. Is not a lot of money to wall spark I mean Wells Fargo. News and looking for their market cap area 250. Billion dollar bank mean they're huge. We don't know them here because they're based out west. And they don't really have much of a presence in New England. They don't have atomic they've got a little bit and some parts in my New England but it's not much if it's not a in a strong presence here but what Wells Fargo was doing. I think that they got off very lightly ups because well so far today they've been dealt with the states. No they haven't dealt with the state but what they were doing is in. Essentially what they've done is they've set up quotas for people to hit in terms of number of customer accounts signed up and when people weren't hitting those quotas. What those people did is they when they made fake email addresses fake profiles. And open up credit cards with those fake profile debit cards credit cards loans they they borrowed money so this really this was credit card fraud that was being done. By the bank in my opinion this needs to have jail time Disney's step higher fines and you're not seem like this. This kind of thing that if he appeared Jimmie and Florida was due Allison and doing this with you know a thousand people to be in jail for twenty years we're not see in the. Yahoo! look let's be very specific on what they were found to two have been doing here you walk into a branch in you know. Bet if you want to open up an account especially in business account or checking account if you take out a home equity line of credit. When he roll out the red carpet for and I'm not speaking just of wells for our rob talking about any bank that's their business that is how they make money. But the trucks point eight Wells Fargo had 5000. Employees across the country. That would not only opened up an account for you when you wanted one they would open up an account for you when you didn't want one. For instance he had this woman shielded daycare center. And she had no interest in having any kind of line of credit. But there must have been a quota put on one of the people in the branch and the person in the branch opened up a 151000. Dollar line of credit. For this daycare center. Now you think about things that while what's the big deal that uses up that daycare center owners credit. It shows up on their credit report Foleo. They had instances truck where checks for bouncing fees are being charged. Unbeknownst to the owners of that account unity had people say what do you mean I've got a Democrat I never asked for Dan Carter when he mean I have a little reserve account and grass for loan reserve account. And it was being done by people in the branch simply so they could hit their quote quotas. Death and it stated that to me. That is kind of the very definition of fraud when you are. Opening when you when you're doing something in direct. Contravention of what you told someone you're gonna do he said oh no we're not gonna give you debit card in the you do if you just an adequate that's fraud. Well can't do that. They fired five that over 5000 employees to put in perspective. The media with it's not something that was happening and that's what I think a lot of people file peculiar track is he wasn't happening in one or two branches. This is rampant across the country that's like 2% of their workforce has the guts that's not you know small amount it's not one or two people who said oh we need to do this that's. That's a lot of people but the way they were doing it. Leads you to question their audit procedures because they would literally set up. An email like yep avenue email address for the account and it would say a known name. At Wells Fargo. We just dumb dumb things they had even just like a random thing at Yahoo! were good. It's it's just unbelievable it was a it was a mistake news mistake can cost a lot of people their jobs and Wells Fargo shares. Trading down at 4972. I will suggest to you that the story's not over I think you're gonna have to now deal. With all the different state regulators so I think this is something. You you remarked about the light dollar amount associated with the 985. Million dollars. I think you'll be increased dramatically. Once you get the state regulators. And you let's move on to General Motors General Motors. Is going to be interest introducing. Driver assist technology it's very instinct. The way they're posing at his win Tesla came out with it you lose in a robotic driving in the car will drive you home yeah. General Motors calling it specifically. Driver assist technology. And technology energy and car it'll drive itself varies year to be able to get new GM car next year. Push a button and say take me to New Haven, Connecticut and it day in the car we'll take you to that address in New Haven, Connecticut but. The car can tell whether or not you're watching. In and whether or not you're supervising this trip. Yeah and what's what's interesting about it is what it does a pretty much uses facial recognition technology to detect whether or not you'll are looking at your Bible its its determining whether or not you're getting drought you're not a if it detects that your fallen asleep because you're not paying attention. If pretty football's the car over beside the road and wait and see if it which is genius well it is and General Motors. I you know all I end and full disclosure I own stock in General Motors because of what happened is about one of their cars and I loved the darn thing. And they said you know that that's he'll Peter Lynch investing here you know bio you know and I I bought a GM product I like it it's all about the stock. And the the thing that idea that occurs to me news. They are seemingly somewhat of a leader in this cup in this category among the manufacturers. Now perhaps not if you take Tesla into account. But test us tends to Russia and things in LA and any kind of throat against the wall to see what happens General Motors taking a much different approach and I credit Mary parent with this approach. You know who else is doing a lot of it's actually now is super. They have it added that technology it's not they're not so much doing the autonomous driving in everything to this point but they've built in a number of drivers just features it's called their ice age system that pretty much can handle a ton of different things both from the front side back you know whole number of different options. Did you something the accident rages through your top 10% today it's up bruised up 10% last year and it's about 15% so far this year. Yeah you're you're going to see a big push to get these semi autonomous features into a lot of cars because. They can help produced Jackson's you know they they see things that you don't because you are looking down at something you dropped they see things that you don't because you're texting they see things you don't because you're in a hamburger meat they. They see that stuff and we'll know. Would you tell me earlier about Michigan because Michigan is really the auto capital. One could argue that Michigan is the auto capital of the world right you got word General Motors Chrysler yeah. What Michigan is doing is in an effort to try to work with the car companies to. Allow American companies to become a leader in this space is actually just passed a law that. For vehicles that are testing autonomous features you don't have that person in the car anymore you can test them without a safety driver in the state of Michigan soap. And gives them the ability. You really push things forward on that front. And hopefully season development really spurred their in the next couple months I wouldn't be surprised. If you see a lot of the big guys start producing test even ones not based in Michigan Turk I bet you start seeing who were heading over that way you see tussle going over that wage. It's an art testing its its its Smart on the part of Michigan because that's been drive a lot of research and development in Michigan yep no doubt as they're embracing it. In a lot of states are saying on I don't know he can't do that here Michigan just in the exact opposite saying no we want those jobs here in the Michigan. It include all the respect. Is a state desperately in need of jobs in innovation and and more corporate more of a corporate friendly culture. Have a question and just it's just kind of looking at this why do we consider worse when an unmanned car hit someone than when a man Carter's. While isn't. Theory news that the person behind you would have responded better than a computer nets. Rubbish but he's the I mean if that was the case we wouldn't have calculators would have pollutants of these tea if it it does it bother you go to tech burgers. Now of course but what. Type. But it's it's an antichrist they went out in the eighties between generation be they I mean literally the year you guys were born. I think they stopped making tightly and he still at the level it was at the word processors in the Mimi grabs and stuff like that with the enemy graph which was that like the partners it is easier to. There pay up next we're going to be joined by LV Anderson from the sleek we're talking. He he wrote an article and I patterns to report a plan that's widely used by companies to keep. Keep health care costs down is a sham. And you know what he might be onto something here that's our next topic from our insurer match dot constant. Battering and chuck. Alex. This is the financial exchange radio network Barry Armstrong here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of an employer sponsored retirement plan did you know that upon death your hiring can be taxed four times all Irish are taxed at state and federal income tax rates but they're also taxed like federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed onto your -- we're giving away guide that will teach you how to avoid excessive taxes on your IRA and it will also give you guidance as to the beneficiary designations on your retirement accounts imagine if 80% of your irony was lost to taxes call 803934001. Call now 803934001. Or downloaded for free on our website financial exchange showed dot com. Juries are for securities America incorporated numbers and SIPC advisory services offered through securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated please consult with your qualified tax expert for any tax related concerns. Today the senior citizen has a one in three chance of spending time in a nursing home is your plan to give your home another acid steer kids in order to protect them from a cost of long term care do you feel about asking your kids permission to sell your home or spend your money. How'd it feel to lose those that should steer kids divorce or other creditors there's a better way to keep control while protecting your home. Call the office of Cushing in Dolan right now to request their brand new guys play for states vs a reputable trust they'll teach you gotta protect your primary residence your rental properties and even your vacation property this guy will also show you how to avoid probate keep your money in your bloodline and potentially eliminate estate taxes -- -- 668485699. Or download the guide for free by logging into legal exchange showed dot com Cushing in Dolan has been helping families like cures for the past thirty years called to see if they can help yours 8668485699. That's 8668485699. Or visit us online and legal exchange showed dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends that the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match at 844 and 99 match many of our listeners don't know home and one or two cars that that describes zero you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match Netscape 4499. Match insure a match works for the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance and continued time stressed the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. It's not too late to get a great raid on a whole mortgage leader banks specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917. To 900 that's 8776917. B 900 workers at leader bank dot com. Emirates the SE equal housing lender and MLS and we're 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases in refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Minarets the icy equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Keep up with the latest from Wall Street by following our daily stock ticker at the all new financial exchange showed dot com you can also listen life and catch up on Pashos on demand log on today had financial exchange showed dot com. This segment of the fight. Those cases brought to you by Ziering is your land or take advantage zero it's a fully automatic online rate collection tool. That is free from landlords and tenants. Sign up and have great checks deposited directly into your account call 8776917900. Today or visit easy rent dot net our guest is Lauren Anderson and I'll read the headline tour article and then we'll dig into the topic. Laura wrote a plan that's widely used by companies to keep health care costs down is a sham. Talking of course about corporations conducting biometric screenings hi Laura are you. I'm I think it happening my tooth so when we start off with biometric screenings first would aren't. The training are usually like Pratt. Combine where I am like pressure singing and we measure meant to that they can actually your body mass index. Aren't that mean they're making about that and that you're blood pressure your cholesterol level at what you do it in ninety. Where you are on measures. Thank Larry and how common illnesses because I eight the company I work for does not conduct these tests but is this. Common through corporate America. I am well look pretty good when he hit teen survey of large current which went. 200 or more workers. It cheaper than of them are offering a biometric screening I -- they offered a some of them are requiring that he looked elated even call operating. They're up that thing excellence and habitat which make people feel that they're gonna coerced into doing. Well it that's the that's the whole essence of your article isn't it because they the unity they're. Calling it a corporate wellness program in the referring it to it is a win win you feel that that's not entirely honest. I it well I I I think Aaron. You know. That law companies. Use a large amount that the cost of health insurance on their employees if they don't participate in market programs or eight element. That you're aware that high cholesterol high blood pressure. You're company is legally entitled EU IM target market your health insurance because that. 88 you know it idea behind it they are they had it. Is that oh at the operative or leader with meg currently it they will it help your approach to immigration battle elect and out lies that the team. A bit more that open. But Laura Libby take the flip side of that would define a healthy guy right. And the end and I don't drink I don't smoke in night you know I take care myself some might screenings pretty good. And then I work next to a guy who's a fat slob who eats too much drinks a lot smokes a mean. Honestly acting deck I should pay more for his insurance. Mean that in fact the question like what his health insurance and ratcheted it I mean you know it and people they are all. Reid and the people have X in the carpenter or Alter the reason a lot of what you got nothing to do with air eager you know and so I think that what we're trying to break aren't. You know who had more rancher and get tricky because. Not everyone who has like opera and is how unhealthy behaviors that they have to now and next genetic it positioned up I we're not going to overweight is. You know at behavior could be and they have a genetic if the budget and sell. I think that these. Screenings yet they're trying to weed out the people that I'd copied Ebert but really they're doing at that they're really brought up up. You know unfairly targeting. Oh. Poses related to obamacare because it somehow this NATO comes into the affordable care. Right to act actually. And it caught by the rules that companies are allowed church. A 30% of the cot. Eric church and a bit injured premium. I'm on new employees decade or don't or if they don't wanna airport they felt. Before that that the Bush Administration are at the end of demonstration. You know it accurately and commissions charged my. The people weren't. In Europe and apartment and immigrant compromise. You know congress and that white. And it is an ideology that it's a fair and those that are. What do you do it said that the red brick experiment you reference it in your story can you talk to us about the red brick experiment. Sure at the record is one of many Obama standard and actually they are a lot more extent and about there. And most figured our farm so I I thought it. Eight. You know who whether. The problem that the offer would evolve after you biometric screening ache like you online coaching to try to eat healthier. And you know I would I'm surprised by and Powell. Market scene where you know people who did not unity program. Ended up. In weight and lowering and there if what Asher and let strong and good a program. Also ended up with a win over their oppression but stopped by at slightly higher now. But it and really unlikely that any company could. Seem bunny on health insurance claims. I you know it's in May and late healthier this way. And I will Laura thank you very much for your time and good job on the article purchase. Wrap it up so how do you guys who. The unique a couple of techsters are coming in. That 85603. Kind of writes my sentiment bad drivers pay more for car insurance why should. Health insurance be different I I agree like if if you smoke cigarettes right which are known to be. A killer and I think he should pay more for your group health insurance through your play. I think where you need to just think I think where you need to make sure that you are clear is that this is a lot of cases what they were talking about the screening for high blood pressure and so forth. You need to be able to identify went high blood pressure is caused by something that you're doing as opposed to how you were born. There's some people and we seeded than we something almost half high cholesterol through no fault of their own you don't want to penalize those people and just say you're paying more does not have a bad team. OK let's let's use smoking of cigarettes as an example yet. 15% of the adult population smokes cigarettes. We both worked for IBM should that smoker pay more for his health insurance and the guy who's doesn't smoke and isn't really good shape. Neatly parted as he pays an awful on taxes. Yeah that that money goes right in the Medicare and ultimately it's all right what about the boos bag. The guy that's got bad liver enzymes because he's abused as Boozer probably should be paying more well. And I expect a play in it's a bite bite bite thinking on it is. If you have a self induced health problem right what is a self induced health problem. You're you're morbidly obese and I think that's on you right sometimes it's not. There's a way we could prove it in you that if it's not been proved. If you smoke cigarettes right that that's on you it if you are an alcohol that's on you on and get treatment and. And people are texting and saying look it should be my right to live the life by what will you do but not someone else's expense and that's the problem. Yet and that's. That's where I followed you can but you can if if you are going to make choices that make your health war health worst you have to be on the hook for paying for those choices otherwise. Look look I run three times we can go the gym two times a week right I don't wanna be subsidizing Jimmy hues in twelve Baxter readers on the couch. But what Laura said was these incentives don't work. You know they didn't experiment in the incentives do not work. It's because people are very people for what people don't change of people people are very hesitant to change especially when it comes to health. Most people don't know what they're talking about anyways you know there's only you can read different thing it's like I was they would go to bat the one week they're good for the next you know it's you know be all right Gloria doughnuts or bat for. This week next week ago. Every other week. Now the we're joking about some of this but the fact of the matter is if you live a really healthy lifestyle. You are subsidizing. The people that choose not to that's just part of the way it is against. We'll be right back with trivia from our insurer match dot com. You've got to barrier and stronger financial exchange on the financial exchange radio network. If you're looking for a great deal on a new counter program you should check out the zoom rewards program leader bank is now offering it's and checking account along with the companion savings account and as long as you qualify you receive three Democrat. First you get a savings rate of two point 05% annual percentage yield up to your first fifty K all of your ATM fees from you and other banks will be reimbursed and you'll get 1% cash back by using your debit card and visa credit purchases just sign -- the statement with the account direct deposit at least 1000 dollars per month and do a debit transactions per month. Cult leader bank right now at 8776917900. To learn more about the zoo Murrow awards program at 8776917900. 877. X 917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume we're awards will learn zero point 10% annual percentage yield on savings balance member FDIC. Hi everybody very are strong here from the financial exchange and I'm joined by. At leader bank. SBA loans. Boy they've been around for awhile but not everybody takes advantage of them and very few people know how they work. Very yes we we to a lot of small business lending its leader bank. Where preferred SBA lender which really means we can maker decisions in house you can quickly within a couple weeks. So we've been very active because a lot of small businesses have been growing in this economy so for example we have a special right now. Which is small business loans up to 50000 dollars were offering a fixed rate of three point 99%. Extra for years and no closing cost. It's been a very popular product but more importantly we're really helping small businesses who need to grow and expand their business. There's a lot of uses pretty small business loans and if you couple examples. Recently helped the restaurant and Cambridge that was. Doing so well they actually need to expand in the space next to work. We help them local law firm. Who needed a line of credit. Expand his business sure we help today yeah local trucking company by a couple of new trucks because they're expanding it so there's a lot of differing used says there's there's really no limitations on and is longs for a good corporate use but 50000 dollars you pay it back over four years he interest rate is three point 99%. Exactly. With no closing costs it's a pretty attractive program is our way to Kenny work with the local community and build small business relationships. Very good folks that's actually from leader bank if you wanna learn more about SBA loans called them to all 38776917900. Three point 99% to pay it back over four years. 8776917900. Full furry. 8776917900. Or check them out online at leader bank dot com. Today the senior citizen has a one in three chance of spending time in a nursing home is your plan to give your home another acid steer kids in order to protect them from the cost of long term care. Do you feel about asking your kids permission to sell your home or spend your money. How'd it feel to lose those facets to your kids divorce or other creditors there's a better way to keep control while protecting your home. Call the office of Cushing in Dolan right now to request their brand new guide like the states vs a reputable trust they'll teach you gotta protect your primary residence your rental properties and even your vacation property this guy will also show you how to avoid probate keep your money your blood letting him potentially eliminate estate taxes co lead 668485699. Or download the guide for free by logging into legal exchange showed dot com pushing him Dolan has been helping families like yours for the past thirty years called to see if they can help yours 8668485699. That's 8668485699. Or visit us online and legal exchange showed dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets and our friends that the insurer matching agency can prepare personalized plan to get you the best coverage at the best price call insure a match at 84499. Match Nazi war for 99 match many of our listeners own hole and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers like you can qualify for call insurer -- to compare multiple rates and carriers at 84499. Match that eight. Four for 99 match insurer match works at the leading carriers in the industry like Art Bell Plymouth rock and bore their license for all types of insurance and they can save you time stress and money with just one phone call and wanna relationship call today. Pork for 99 match or go online at insure a match dot com. Get your thoughts and questions seeing instantly detects the financial exchange at 68680. This is the financial exchange on the financial exchange radio network. Trivia is brought to you by Arnold's lobster and clam bar located on US route six in east ham Massachusetts Arnold's. As great rob. As one at Cape Cod stuffed claimed contest for the second year row. Call 5082552575. Or visit them online at Arnold restaurant dot com. All right here's your trivia we're doing trivia based on the rock band Aerosmith. What was the title of Aerosmith is only number one hit. 68680. Is our text number first listener with the correct answer will win a fifty dollar gift certificate to Arnold's. What was the title of Errol Smith's only number one hit and again our number is 68680. Looks like MasterCard has a problem in Europe truck. Yeah it's kind of a complicated issue to operate down effectively what it is MasterCard is the subject of a an eighteen billion dollar damages claim. Due to potentially higher fees that were being charged on purchases. In Europe overnight from 1990 to 2007. So world in his sixteen year period and really what it is is that in a purchases that are happening between different banks in between different retailers and so forth they're different fees that can be charged on certain cases you can end up paying higher fees and what this is. Pretty much saying in this this. Class action lawsuit is that. But 'cause those higher fees were allowed in because those fees were found to be illegal. Consumers should be able to get that the total of those fees paid back. I don't know if you can go back and do that after this is late happened lately it seems like you go back and retroactively change in the law which the Europe seems to love doing this this is the second time in a week they've done this now. I don't know about this it's it's a little about your card's gonna fight they're gonna fight it don't. They will let it it doesn't make a ton of sense to me I mean I think if the law was what it was when it was you can't go change retroactively and say pay this money of other. Otherwise how do you ever do business. Right it paid the act quick announcement on behalf of Armstrong advisory group you might want to grab a pencil and paper. You know the I went through the six New England states track and I found the average cost of the nursing home. By state in Rhode Island the average cost is a 1141000. Dollars per year. Mean it's a hundred neat thousand dollars per year Massachusetts 144000. Dollars a year. New Hampshire 123000. Dollars a year Connecticut. The most expensive state in all of New England for nursing home care. 160000. Dollars or more on the 106000. Dollars and it's going up. Each and every year this is according to a study that was done by Genworth by the way. They conducted the study the point I'm trying to make is the cost of long term care is skyrocketing. In the likelihood. That you might need long term care increases with age. If you're in your fifties or sixties I'll tell you what this is an issue that you need to start to address. Armstrong advisory group is giving away free guide that we'll talk to you about long term characteristic also have. The 2016. Shopper's guide now this is a guy that was published by the National Association of Insurance Commissioners. We'd be happy to send that to you electronically. But there are new ways to address the issue of long term care. You know a lot of people think lied about by a policy and if I don't use it all I you know like if I never get sick in music then night I didn't getting value from it. There are policies now truck that had money back guarantees. There are new policies that have come onto the market in the last several years. If you'd like to learn more. About long term care insurance if he'd like to get back guide that I referenced that National Association of Insurance Commissioners shopper's guide. And and give your phone number to call it stole free. 800. 393. 4001. It's 80393. 4001. As one remind you the cost of long term care insurance at all cost of long term care in Connecticut a 160000. Dollars today. Genworth suggesting that in ten years it'll cost 2151000. Dollars. Per year if you want to copy that guy if one talked to one of my associates I'd give them call the phone number is told Fareed it's 800. 393. 4001. Security suffer through securities America incorporated a member of Famer SIPC. And advisory services offered through securities America advisors incorporated Armstrong advisory group in the securities America companies are not affiliated. All right we're back in DC this story about Google Maps. And lift. They are you know Google was an early investor in Cooper I'm guessing that they don't have any more equity left in Newburgh is they seem to be siding with list. Yet they were they must of sold off there they've shares in Hoover at this point because. Google is really. The sticking it to Hoover with this one here what they're doing is in Google Maps which is pretty much how I attended its allied in my GPS my mappings I use waste what they're allowing you to do is right in the app. It allows you to book. Ride through lift as well as other Roger is right sharing service called debt. They do not allow you to do it through and they give you price comparisons as well that you view price comparisons so much like you can go and you know and in Google Maps he can say okay wanna take mass transit to where I'm going wanna take. You know one biker whatever they say what you can we got right sharing apps now that integrate with this. Hoover's not one of them just don't wanna ask you do you think that Google now has an investment in left. The financial state who I don't know because I haven't heard that they do. I don't know. I don't think so I think they just don't like Cooper. Is an added each other they happen they have another they've got the service debt on their platform as well so it you know maybe they've gotten investment in both I don't know but. Who bring them don't seem to be getting along very well last. Couple years picture down. Hey hunger for yields sends investors a far into we're starting to see more and more of this where investors say in law. I can't make any you'll make the ten year treasury in the US is paying maybe one point 6%. So what people are doing is they're sales what can I get it by goat to and Brazil what can I get for yield if I go to Argentina. How much can I get for yield if I go to an emerging market Lotta people do that they're going overseas to get the money. Awful lot of people doing it in theirs in particular funds called iShares JPMorgan US dollar emerging markets bonded as the ticker yen B. And it's actually seen its assets double in the last year four point eight billion dollars inflows doubling the amount of assets in the span of a year Lotta people searching for yield there the reason people moving their. Even with a all the fast moving and still has a yield of four point 32%. A lot of people going over there. But they do need to remember that something like this tends to be more volatile than a traditional bond it's not gonna perform like the US treasury here lake high quality corporate bond. It's gonna move a lot more like the stock market has a lot more ball to rescue Perry trying to got more volatility associated with that so. I think that if you're buying this book if you wanna go get yield. Go for but understand there's a lot more volatility that goes into that type of holding. And you need to be able to deal with that it's not simply going to be flat the hard part is when the market that has been some. It is you know that that in real and that's what we saw the last couple years you know that's part of the reason why it's sold off so much is these foreign currencies compared to the dollar. That's a much weaker candidate. You know suits and it's not something that you can really predict these. Air B&B evidently has a discrimination problem a lot of their hosts are not willing to. Rent out rooms in their house or rent out their properties. Two people. Of color wheel. Yeah and so what you are seeing is that they actually. There was a Harvard University recent expire in December. That this is great he had a black name if you had a black mean you're 16% less likely to be except for rentals than white sounding names which. In and will there be envious acknowledged that they've they've said look we're making changes that they're making profile pictures smaller there. Requiring training for employees as well as host and so forth so it's you know they they recognize that they had a problem and they're trying to deal with it at this point I don't know I don't know you can really completely deals that how old is there. Once they've burst wants a 2007. Is when they came around. As companies work that's an eight. OK so just that company's been around for eight years and it's worth the market valuation on it is 2.3. Billion dollars you know how many listings they have no idea one point 5000008. 34000 cities 191 different countries it's a cashed out because they make money. You know on every trade reality they're getting paid every time you click that on. And and you book room they're getting paid it's a great service to him in our view like it now I've used it for five times out he's all the time sometimes I like to be you know hotels because you know you like that somebody comes in cleans the sheets every day and things appear towels because I've never used it. It's it's very nice and you'll feel much cheaper rate it's how much it. Like if you go to New York. Which a lot of people do right go to New York for a few days just sees Texan shows up again how much less expensive disease to go through air B&B is opposed to staying at a merry. Under a test for you right now I will tell you in my. Might my gut instinct in what I've seen historically is depending on the city that you're in it can be anywhere from twenty to 50% cheaper. My son tells me tapped. Now got a son nude to uses it in unity that's very goes he goes to New York he said dad I spent I saved at least 50% but he's near the Indy. So I was and by the way he liked it there. I was the other day I was poking around hotel rooms and Boston's see how expensive they are these days. And it's not like it's it's through the roof you're talking is a shortage it's it you 300 dollars plus a lot of cases. I'm seeing rooms here. Hunger and and 85. For New York is new Yorker and bought this in Boston for two bedroom places 200 bucks in nice cheap you know life is like that's her two bedroom a room at the Marriott -- for either box. I think that's yet somewhere around five or six yeah it's it's ridiculous so I've got air BBB a lot cheaper. In the days to get more you get more that comes with a lot of times you don't get what it should he get any illusions of it like to us exactly not to look for breakfast and lunch I can't when I travel. I like to be able union. For breakfast and lunch and offered him yet that's what about life and death elected it's nice to be able to live music a lot skiing and you can get you know instead of owning a place on in my young. What you just ran the place on the mound for the weekend and a lot of times cheaper than hotel anyways lot cheaper. Pay up next we will be joined by Paul La Monica from CNN money will also have the announcement as to who won the trivia contest on a day. We're done gone the Dow was down 205 points had to happen and who had a heck of a rally for a long long time Dow down 205 points. I was actually just looking into it great article on CNBC. The close of the market every day for the last forty days has been within a one point 75%. Range so it's the tightest rain since 1928. That we've seen over that period of all I don't like the sound and he'll likely in 1928 so I tell you that much. All right up next Paula Monica from our insurer match dot com studious. The election 2016 and it will have an impact on the economy going downhill right here in the financial exchange on the financial exchange rates work. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets and our friends that the insurer matching agency can prepare a personalized plan to get to the best coverage -- the best price call insure a match at 84499. Match 54 for 99 match many of our listeners own home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers at 84499. Match that 84499. Match insurer match works at the leading carriers in the industry like our bell Plymouth rock and more their license for all types of insurance and they can save -- time stress and money with just one phone call and wanna relationship call today 84499. Match or go online -- insure a match dot com. There are strong here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of an employer sponsored retirement plan did you know that upon death your diary can be taxed four times all diaries are taxed at state and federal income tax rates but they're also taxed like federal and state death taxes that can mean that is a little as 20% of your retirement plan will be passed onto your -- we're giving away guide that will teach you how to avoid excessive taxes on your IRA and it will also give you guidance as to the beneficiary designations on your retirement accounts imagine if 80% of your diary was lost taxes call 803934001. Call now 803934001. Or downloaded for free on our website financial exchange showed dot com 22. He suffers securities America incorporated numbers and SIPC advisory services offered through securities America advisors incorporated Armstrong advisory group and securities America companies are not affiliated please consult with your qualified tax expert pretax related concerns. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's say 4499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance can save you time stressed the money we've just one phone call and one relationship. Call today 84499. Match or go online and ensure a match dot com. It's not too late to get a great rate on hold mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917. To 900 that's 8776917900. Or visit leader bank dot. Com member FDIC equal housing lender and MLS number 44950. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Minarets the icy equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. Security securities and her ink member in PC. Or securities America. Represented on our advisory group and security American companies to. How web series saw. Check out financial exchange showed does come. You can take part in our daily poll question and you'll find in dealing recap from the markets activity visit us today as financial exchange showtime come. Aerosmith song I don't wanna miss a thing was the fans lone number one hit written. For the Armageddon movie soundtrack the song was never featured on any of the band's original studio album. For good reason. For good reason time. Books it's pretty terrible well that it's if you love the chart it's it's it's very interesting that one of their worst songs was their only number one hit no. Thank you think about everything else they did but. David from Auburn have the right answer their David taking home a fifty dollar gift certificate to Arnold's lobster and clam bar located on US route six. In east ham Massachusetts there we chips using as when the Cape Cod stuff planned contest. For the second year in a row get down Arnold's and check out all the great food for yourself call 50 wait. 2552575. Or. Visit them on line at Arnold's restaurant. Dot com do either of you guys use it tablet anymore chair iPad iPad you do it and for what purpose browse browse. Because I echo my purpose and a sense that we just don't have a big phone you of the small little dinky iphones at a regular iPhone yet seasonal normal sized photos of their exit date yet girls the girl phones yeah yeah. I I have a six plus seats are they fit my pocket and and I don't use my tablet anymore at least pay from a tablet atom iPhone really. Pity I was thinking about getting it tablet news that I can watch TV on it and now we wouldn't have to watch the same thing my wife actress. Problem is that it is now you'll see is again. What's on what's the one that she's really into again. The Dalai how to get a rumor that's that's what. That's as bad news well yes. But she she's picking up all kinds of ideas and down I'd say that some are they still show this stuff. What are they charged teacher's why it was a notebook business and coach and a knife assets should she begin by tablet. Four from Amazon Amazon's new it's going to be 89 dollars. And it's good 89 dollars it's gonna have up 50% more ram than the previous. Previous 116 gigabytes of storage. You know which is eat fast he get from Apple's eight inch ones I mean. It's gonna be fast it's it's half the cost so in some cases it's a quarter of the cost of apples can parable tablet. Spent a seven inch tablet Tucker that they sell for 49 bucks at the same price that apple charges for its leather iPod case. Transfer case while mrs. I I just and and member they had that apple there the Amazon day in the summer when was that line. I say yeah Ronde Cam Ward they were given the stuff away. While I'll tell you it's interesting because Jeff Bezos and Steve Jobs news a lot always had differing views. On how to priced things Bezos is looked at it is the most tense possible do it cheaply do it however he can we don't care about margins yup. Jobs wanted to protect margins in the brand more than anything else and when he was alive he was able to do that you wonder where they're going to finally yet it. It's you know Bezos is doing he's getting into everybody's home that we did that poll question to pull up our poll question tonight I'd be curious habits changed little. We we asked if you know people are customers of Amazon and you know an hour ago a 100% of our listeners we're in is dead now struck the 95%. I am the one person is lying now you know but the my my point is Bezos approach shot is. He wants to get your house and he wants you to pay that 99 bucks that's all he cares about it's kind of like the BJ's model right. They don't care how much money they make office owned ketchup or mustard toilet paper. What they want is that hundred dollar annual membership fees and costs to be a member of BJ's. Will Bezos has a similar business he's going for quantity. And eventually he'll make some money. Because they know they're gonna make it up on the quantity that's the whole thing they're trying to do is very similar actually to BJ's now that you know Costco yeah it's very similar to you know you're your club retail stores that's it's funny see those are still stores retail experiences that I enjoy. The guy I can't stand going to a Macy's what makes them not sock. You go in and there's like really big stuff. And now let me see you wanna buy some mayonnaise and forty gallon sixty barrel after they succeed Alejandro I've made an answer or. And they have good stuff too like I I've by a white fish salad. And BJ's that we tell you something. It's as good as anything I can get in the Jewish deli in what it's really good in an effort good things about the quality of food costs goes well guess who the beat you to go by. A beef tenderloin you hole out there you you can't get account now that you get a car. But he that he write the that's what I like about the BJ shopping experts who just has. More. Variety and and that's a retail place that'll go I won't go eat you have to drag me kicking and screaming get me into me I'll tell you what if BJ's Costco and Amazon lowers Marten. They come up with some kind of deal together Amazon does the delivery but he still access the BJ's or something like that. I mean on the part of the BJ's experience is walking down the aisles of what you don't have time to sometime and yet they. Think about that there's times where I'm sure you're you know you got you know long day at work at 6 o'clock Anderson there's sand on the twelve gallons of mayonnaise. See that's the problem with a group for shopping. He's still in on I tried pea pod and and and I gave that a good run but I still haven't found an Amazon pantry by the way I've tried that as well. Still not there out there that idea I like to walk down the aisle anyway. Hey happy Friday everybody I wish I had good news story on the stock market the Dow was down 213. Points. It's all due to North Korea and error frozen program hate. Have a great weekend. Chuck saga. Tucker solve a very Armstrong signing off for march or match dot com.