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Full Show 9-5-17

Sep 5, 2017|

Full Show 9-5-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're simply your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. We all need to recognize that North Korea. Is a proxy for China China has complete and total control over North Korea as a matter back. 85%. Of North Korean imports come from China put that in perspective so you think about that for just a minute. 85%. Of North Korean imports come from China I everybody's buried chuck with you here on a Tuesday morning. That is actually turning quite tense with the market's in decline. I attribute the market declined today talked to concerns and tensions in North Korea. But I think that's definitely part of it obviously. You know you have that this bomb test over the weekend. You have reports that North Korea is. About to conduct some additional missile tests as well. And so obviously. It's something that does have markets a little bit spooked today the Dow off about a hundred points the S&P off about seven the NASDAQ off fifteen. So definitely a little bit of schism some jitters as we come back from the long weekend here. But definitely not a panic sell off by any means. Still bit president Donald Trump does the headline in today's Wall Street Journal. President Donald Trump's early warning that the United States may halt trade with countries doing business with North Korea was seen as a direct shot at China. I don't think you can perceive it to be anything different that. I don't think it's feasible to do pretty hard and you're not gonna do it now explain why it because I I put that out as our poll question today. By the way our poll question is on our website financial exchange showed dot com. Should the United States halt trade with North Korea until. They start behaved and should restart halt trade with China excuse me until north Africa's IE MMI oversimplifying this in stating. It North Korea is a proxy for China I I've always felt that China air Russia both of well they don't have the trade with Russia. That they do with China though 83%. Of North Korean exports go to China eighty yeah I percent of North Korean imports come from China. So I look at you're trading partners being your closest now. Think a lot of it's just as it there's a shared border there yup and so it's easiest path in terms of trade. But obviously John is it is the biggest trading partner born North Korean there's no doubt about it now why is. Completely stopping trade with China a pipe dream. Look if you want to let's say that year you know trying to go to Wal-Mart picks up and up next week okay all of a sudden you don't have any trade coming from China. Wal mart's not gonna be stocked okay. Dollar store isn't going to be stock 7-Eleven isn't gonna be stocked you can talk about doing the higher end items he not to be able to get you new iPhone from the apple story not going to be able. Two by one of the car parts that you need is things like that. Lot of these these items that we use on a day to day basis come from China. OK and so it's completely unrealistic to say oh yeah we're just gonna shut down trade with stood China it's it's you know we're gonna punish them punch your own people by doing so. Well you cause a global recession because not only do we buy a lot from China we export a lot to child we do to be about Connecticut state of Connecticut in United Technologies and how much. Of Deere equipment is manufactured in Connecticut and then exported and manufactured in the New England region. And then exported to China Demi China is the single biggest. Trading partner overall. For the for the US in particular when you look at what we export to China okay the third largest export country that we export to. Canada's the biggest Mexico's number two China's number three now say the two countries are admittedly. Very closely intertwined right in China represents about 10% of US exports are not talking. About a small now you're talking about a significant amount of trade. That goes out of when you talk but imports okay terms the the US imports that we have here that imports from China. We import about 25% of all imports from China so we are important to China. Yeah China's hugely important to China we are important we're where China's biggest customer cracked up. And China is very important jobs. So why is China not controlling the behavior of North Korea is they don't want to OK if you look at what China's geopolitical aims are. They want to be the primary source that the primary sphere of influence in southeast Asia okay. They want to have. Control over the shipping over the airwaves over everything they need to exercise control over their bad behavior they don't they can use what would they are doing here is they are using North Korea as a proxy to try to keep US involvement in the region to a minimum OK and I think it's important Dodgers they South Korea. No there there you they're using their involvement in North Korea to try to ID US and it US has a lot of involvement in South Korea where it they also a very big trading partners that. Is that what is bothering. China and is our position on Taiwan. It's bothering tries this is this their way of retaliating. For our position in South Korea and in Taiwan its. You can view it that way it's it's not so much in regards to any specific position in simply. China wants to have the ability to do what ever they want in that part of the world with out any US interference so why would they risk in this is the part that I think a lot of people are asking. Truck is why would they risk he trade war with their. Number one partner but why would they risk damaging their relationship with the United States over a pittance which is what I would describe North Korea us. We'll remember this is not about North Korea. Okay this is about US influence is trading partners in southeast HOK. You know who was happy as person in the world when that TTP. Went down the troops. President of China OK because that was that was a way that the US was going to be able to build influence in southeast Asia was built. TT PP was specifically constructed to try to counter act Chinese influence in the region now okay. And so this is why when you hear about all the talk of the UN Security Council. This is why China and Russia continue to both come out and say. No we we think that the best thing would be for the US and South Korea to stop doing joint military exercise you know what they want that. They want that because they want the US anywhere near southeast Asia they don't want me to South China Sea that won me the Sea of Japan they don't want the US anywhere near that region. And that is Paramount to them at the end of the day they're willing to accept. Short term issues in exchange for having the US completely gone from that part of the world in the long that is what they want more than any. Thing else leaked potentially talking though. About a global recession they have unlikely anything we've seen in the last 7080 years. That's there's a trade war that breaks out I mean that's what is that we're describing. Potentially bitsy and I I'd I have. Very strong feelings that you will not see that happening now they got I can't imagine the US would be dumb enough to try to do something. This should the United States banned Chinese imports until North Korea behaves that is our poll question right now 83% of you are saying yes. Banned Chinese imports my guess is. You may not a fully thought that through. You may not fully understand what banning Chinese imports does to our US economy chances are if we banned US imports you. We're voting in favor of it loses her job. That that's just the reality 60% of you saying no we should not be in Chinese imports it's. No matter how you slice this and no matter what perspective you take on it Checketts its. It's almost like one of those unsolvable. Riddles I like I I don't know it was very. Much solvable. Yes he continued to try to build alliances. And build deeper ties throughout that region with countries that you can provide a buffer to Chinese influence that is the only way that you are going to be able to do this. Now in order to do that. You have to go into some kind of agreement what you're talking about free trade agreement whether you're talking about. You know it intellectual property agreements what are you talking about so doing something more favorable with Japan as oppose the way you Currie influence with people isn't like taking things away from. There's all this talk that you know recently about what we need to renegotiate art you know free trade treaty with South Korea because it's unfair to the US. That's not how you make friends. To counter China South Korea is not the problem in that region now. They are not the problem there. Japan is not the problem right Vietnam do you have a problem and have more trade with those country you want to have more trade with them because then. It puts them in the exact position at the US is in now if 20% of their exports are going to the United States. What do you think they're gonna do they're going to follow you. And what you say you want to do in the region if you have no trade with those countries or reduce trade with those countries. What incentive is there for them to side with you if you don't have any import. Most of them. Texas refiners work on Harvey recovery as more storms loom that is a story that will be covering soon. But before we do that will be joined by Jeanne so Haiti of CNN money going to be talking about tax reform. It's on the agenda. Will be successful will we have tax reform in the next seven months that's actually my first question for gene that's coming up next. Trump. Hasn't passed any significant legislation yet but tax reform and Health Care Reform are still on the table will either pass before the end of the year QB here with Kerry and chuck for the latest on the president's agenda and how the markets are reacting. This is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there -- no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available -- -- so logon to -- -- dot com right now -- leader bank dot com -- -- a step ahead. 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Or download it right now -- legal exchange showed dot com -- -- strong here and I'm joined by -- to. Who's a vice president and leader bank and we're talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to the young couple hours just somebody's out there looking to. Purchased their first time home. Yes so you know for first time home buyers what we are telling men are a couple things one be patient. Yes you know we we see a lot of first time home buyers who are making 51015. Offers some time to for fighting house now and offers except it's extremely competitive okay. And so they have to temper their expectations. Oftentimes they're they're paying more than the other half do. Paying more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. You know it's very pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes so we're really excited about this product we just launched it is called leaders thirty. And essentially what it is is that fixed rate loan from where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest repayments by one person that's very helpful offer because when it does is it gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bot. A hole. And when I've refinance my properties have always used leader bank they are terrific bank you can call them tool free. At 8776917. B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank back on. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America Inca members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Polling here on the financial exchange radio network. We're joined by these Hadi from. CNN money for conversation regarding tax reform. Good morning gene welcome to the show. It so do you expect that we'll see tax reform sometime in the next seven months of getting that going out to you call the end of the first quarter of next year. Right I I think is the first quarter and it is more likely than last quarter this year and I. Although honestly predicting anything just over there and at that point because so many other things that are are getting in front of the line on the and there's. Just another agreement at a tax approach to look like. And we don't have any details then there's that. Let alone legislation so I am. I I think we'll see something legislatively I think we'll have to do with this I don't know that everybody would call. Tax reform he definitely think there'll be tax cut of some kind for somebody. That's the level of specificity were working it right. Now you wrote recently I read a piece that you wrote last week about corporate tax cuts. And their impact on wages and that's how it's being sold it that your if you cut corporate taxes. The companies will be forced to pay higher wages to their employees. Is there evidence to that effect. I'm well with any ticket tax. Cut there's evidence has participated. Isolate. I think the crux of the question comes down Q what is basically is. It'd academic debate which is how much of the corporate tax burden. Is borne by workers for the ideas. More money a company has an accident but fewer jobs they create the lower wages. The left investment and make sure the conversely if you don't expect that more money in their pocket. This theory says well they'll they'll invest more they'll create more jobs and more workers will be needed wages will go up. That's that's kind of the idea but the thing is there's no agreement among. The economic academic community about just how big a burden workers. Bear out that crept expert is so unique occasion tech became an issue out there saying its 70% but you know the Treasury Department toll fifteen and it was only 19%. And the joint committee and taxation and put it a little higher at 25%. The truth that paralyzed somewhere in between. But even that is too simplistic. A way to look at it I I think that it stayed make permanent corporate tax cut. It is competitive with. What is out there internationally. That's probably the best shot it and it had treating the most growth because it that the temporary cap that's not good progress but it's not low enough what the point. Because the reason to lower your any people on the left and the right thing that is. Globally we have to compete with other countries what about the doesn't get that done I'm going to be doing a story in the shortly as. The countries that were competing with at a much lower corporate rates also have another revenue source to call the a value added. We are not ready to talk about. And the government can't go all that without tax revenue that you know ideally it's great they can have your attacks but that's not practical. Would doubt it the balancing. Yeah I it really is east do you think congress has the wherewithal to do. Personal tax cuts with corporate tax like do overall and sweeping tax reformers that. Just too much to ask. I think. Well it is my personal opinion and had a failure in acting at. From mr. but it seemed unrealistic it was before Harvey before North Korea before all of those things on the first Charlotte's. Yeah and Africa. But I I think that they had not left of that time did attend a comprehensive reform on 1986. I think they're painted themselves into a corner saying we're gonna help for middle class we're not gonna get attacked at the wealthy. And and wicked do get architect for a my memory terrible but. The one thing I do remember that the push for tax reform a year ago would really on the business side it was really for corporate tax reform everybody. Believe that that needs to happen and and tripling of taxes yet he totally technical by the code make it easier if I haven't always good ideas. That day this year is not a lot of bandwidth it's going to be left. Even though I I know that Kevin Brady apparently means committee this week do many things at once you know forget he Texas and he's really doing a lot of things that one. I don't know I mean I I hope they get something positive done yeah I don't know that they. Jeanne thank you very much we appreciate your time. Thank you Jeanne somebody from CNN money and shark when I talked to our listeners whether in person or when we do poll question to this effect. I can tell you overwhelmingly. The responses. We want personal tax reform prior to corporate tax reform people. And in maybe it's just our audience that he is the people want more money in their paycheck it's very simple if if if you're making a thousand dollars a week. And taxes go down by 2% you have an extra twenty backed up that put. Voters want it is and there's no doubt that that is what the vast majority of people want the question is had to make the dollars work. Okay because I know that what. Will Republicans don't want to do was have a repeat of the bush tax cuts but okay which sunset after ten years in the worries that parts that were extended for a couple years were because you are coming out of the Great Recession. Now okay. And so Republicans want to make the tax cuts permanent well the only way you do that. Is if you find offset somewhere else so that its its revenue neutral effectively Celso raise taxes on the rich. Eliminate tax deductions. But overall try to simplify the code is that. You know that's what you'd like wait wait when you first saw. The trump tax plan the when they came out the the when he was talking about during beyond during the fall and even into the spring this year. That's what he was talking and I said look we're gonna get rid of deductions we're gonna lower overall rates and we're going to try to keep everything neutral would give the average middle class family attacks that okay. Problem is that when you talk back getting rid of deductions there's a whole bunch of special interest that want to keep their deduction for her because they want doughnut hole I wanna be able to deduct my property taxes when O'Neal to deduct my home mortgage. Those are things that have to go away in order to lower taxes for poor people and in the other thing the after members that these these different deductions have different effects in different states here in Massachusetts. Property tax deduction is more important it is down and Alabama it is property tax to five times as high okay. The average property tax bill and Alabama something like 800 dollars in Massachusetts around 3500 so you sit there and he says okay if I get rid of the property tax deduction. All of those people Massachusetts are going to be heard a whole lot more than the people down in Alabama okay since these these different deductions have different effects in different places. You know this. There's been rumors there's there's been rumors over the weekend that one of the things that they're talking about doing is getting rid of the war when K deduction and effectively turning the 41 K plan. Into a Roth where you don't get it done deduction upfront but you don't pay anything on the back end so they get the revenue up front to try to paper but then the government needs morally in Iran right. Well that doesn't end well you gotta get that money eventually. So. You sit there and you say okay. This is a complicated issue. The the Reagan administration when they did comprehensive tax reform they gave a 453. Page report on what they wanted to do on May fifth. Of the first year of the first year. We we haven't seen anything we got a one page report that we haven't seen it we got a one page report so. Tax reform. There's a lot at you have to go through because you have to be able to sell these different constituencies that you're still doing something that doesn't hurt them too bad break that I could get any help from the Democrats and could walk. Good I don't think there's I don't think you have any chance it means you have to get virtually every Republican to sign on. And you have to do this while still trying to put together a budget Harvey relief now you've got to the news over the week in the present trump is punting to congress to try to figure out something for. All of these dreamers via the dock of people and so forth so. There's a ton on the plate thing now ladies it's it's not like they have nothing to do and that's the that's the problem is when you get the easily in the legislative calendar. It's tough and that's why secretary minutia wanted to have things done by August. Because it's the calendar gets crowded in hurries he had into the fall. It does and as we sit here on September 5 the Dow was down 125. Points. Nasdaq's off 21 points crude oil extremely. Is trading up. Two point 8%. At 4864. It's chuck it very. From our financial exchange. Making your Smartphone even smaller here I don't know mobile lab by surging financial exchange shelf in iTunes or those who. Who plays stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks ticked hassle out of rent day with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dogs he ran -- meant to learn more or call 7816418691. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half. Have you are re. Securities are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero cents and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested in C ranked the number is 8776917900. That's 8776917900. 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Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a. Time now for Wall Street watch a look at the market's performance so far today but I don't Berrian jug right here on the financial exchange radio network. It is time for Wall Street watch Mike Armstrong joins us to get you up to speed on the biggest stories making news today. Mike let's start with Rockwell Collins looks like they are agreeing to a buyout by United Technologies. They are we reported on this rumor few weeks back but yeah added to our ability to be closing about 23 billion dollar deal where United Technologies to be acquired Rockwell Collins. Single biggest aerospace. Hewlett history. There acquired at a 140 dollars a share ninety treat their entry in cash and injured united technologies' stock. As is tradition with these types of deals. The proper because stock is. Slightly up trucks they stock is trading at 13158. Right now in the united technologies' stock down nearly 4% of the deal. Don't know without Blackstone Group looks like they are canceling. A sale of a couple moles that are in their portfolio. Yes so private equity firm based out of New York City they have a large. Shopping mall portfolio Australia. And what their tiny is that they can't sell the thing they have they were planning on selling emperor. About two point eight billion dollars and Judy increased competition from Amazon that looks like they're having just a tough time finding a buyer this which is not all that surprising they are deciding to instead. Renovate the properties REIT implement continued to lead than the stock is down 76 cents and news or about 2.3 percent. Very good Mike thank you for the time. That's Michael Armstrong with Wall Street watched no surprise there on the malls and is same. 50% its 40% thirty to forty. Yeah it's if if a third malls closed down the next five years I wouldn't be surprised. Last week Cumberland farms announced that it had sold two billion dollars in gas through its mark paid program since its launch in 2013. Would be asking trivia questions today about Cumberland farms come east he gets Abbott's market he said that there for companies yeah neither another had a wait you yes works now. It's you pay for your gas and as I understand it correctly farmer opens. You'd pay fear gas but he gets deputy dad you checking account and by doing that safety incidents again. Seems like a no brainer pretty good deal today got their army well there already very inexpensive. They gave you attend to be pretty close the bomb in terms of cost in our town and he dished to gas stations in the oral always identical in price. One's a local guy we rent and buy from him in the other's companies and they could that there are always the lowest prices could coffee about a line. Companies aren't only a buck anyway companies is the topic of our trivia question in which year. In what year did the first Cumberland farms convenience store open. I don't know 68680. Is our text number first listener at the correct answer wins a 25 dollar gas card. In what year did the first Cumberland farms convenience store open. Texas refiners work on Harvey recovery as more storms loom. We had speculated about this last week how long would it take the pipeline to get back up and running the colonial how long would it take for these refiners to get back up and running. Amazing it really yeah quite remarkable that they're able to get the engineers in yup and the refiners are coming back on refineries are coming back on line. Yet you're starting to see these these refineries slowly coming back on line here Bolero bringing to Texas refineries back to their same pre storm fuel making rates. Three other plants are in various stages of resuming operations right now. ExxonMobil is starting to send gas and diesel back through. So you're starting to get back to normal. There are still a number of refineries that are completely shut off due to flooding so we're not. Back to a 100% right now but you are starting to seep planet's getting schooled backed up to normal production. And it's looking like rather than being months it's probably gonna be weeks before you get back to full production. Probably somewhere in early October to mid October ranges is generally the sense that we're getting. So people are asking of course how long do we have these elevated gasoline prices I've been telling people should start to decline in about two weeks and then. Breach there. Natural level by the end of October at a fair estimate. Because Thanksgiving but that's not that you you within a few weeks I think based on everything I've seen and if you do looked at the northeast has been hit pretty hard in terms of the the bump in prices New York as an example is up thirty cents. Compared to where was a month ago Massachusetts now to 72 compared to 35 so up 37 cents OK where is due to the southeast Alabama at 249. Only about 25 cents and to this point so. It it definitely that the the colonial pipeline shut down definitely had an impact on the northeast. That should abate pretty quickly but you're still gonna have high prices for at least the next month yourself. Larry. You know when I was a kid back in the 1960s. They used to watch a cartoon called the Jetsons. And ever since then we've all dreamed. Ivan dreamed about it you haven't nah I dream Mattel pouring. Teleport I had still boarding up I'm a big flying car and and I cover these stories periodically just because I find them integrates an injury and Arum of you have a big flying cart I think I am I don't like it like I would violent. If I could violent and safe I'll be terrified. Well. Anyway interest in flying cars continues to swell. But if this startup raised ninety million dollars now. And it's some pretty Smart money and looking at the investors in this it's Tencent holdings at a Chinese company. LGT. That's Liechtenstein spam in at a Nico I mean you look at the money that's being invested. One of the Twitter guys is invested in this. Ninety million back to people that's real money. We could question whether or not Twitter founder Treo Smart money at this point but. Yes it they got their money out that's part that's true maybe they got out when they when they should've William it's it's one of these companies it's trying to build a flying car yeah. I don't think the flying car is really the solution any problem. Just because if all of a sudden all you do you take all the transportation it's going on a ground level move up you don't really solve anything. You know but are today's reads like to avoid the traffic on 95. Yeah yeah political sick days is the the united but it. It's again it's. I I can't see the safety and speed really being good enough to justify this on the wide scale. And and the cost is well you know the the the biggest problem we have is trying to get give energy for a long flights and stuff like that. You know it's it just be there. Think they're not easy what I that I follow is always where the money comes from. In you know the the money that there I look at that money that's going into a little human assets Smart money I note the like we know these funds yet but even venture funds they think about like your average venture capital fund. Their goal is to make a hundred investments in the hope that two to three of them pan out. So they know that a lot of mark thanks for flying cars and make it yet it could it could be the biggest product ever I'll I'll be the first to admit that it has. Huge potential they can sort through all the problems. But there's a lot of problems. Hey I've been doing business with leader bank for years because they're always coming up with great deals they've got another one that they surely worth your time to check out. Leader bank is offering in east savings account providing free online banking. With a one point 15%. Annual percentage yield this is an online product only. And there's no minimum balance required to log on to leader bank dot com and sign up today. This rate may change without notice it totally. Log on to leader bank dot com get all the information about the great offer in signed up today before the rates change. Get free. Online banking with leader bank's new. That has a one point 15%. Annual percentage yield and no minimum balance and remember. This product is only available on line to log on to leader bank dot com right now its leader bank dot com leader banks step ahead member FTSE. No minimum balance these may reduce earnings rate subject to change without notice and may change after an account is opened. So Nissan is having a big announcement tonight and I expect you guys to be watching this they're unveiling. Their new leaf and I know Tucker year terribly excited about I am so Oksana. A finesse it turning over knew if I mean it's it's it's wonderful. Eight yes look it's it's gonna be interesting to see how close they come mod trying to get to that magical kind 200 mile range. That we've talked about is being necessary for an electric car to have. Widespread appeal. I I if it had a hunt I I was looking talk and my wife about this in a 150 miles. Well would I do I because I was just saying yeah to a 200 what you gotta I gotta have 200 for my for my lifestyle in the type of driving I do I need to do about it and you look at all the people who commute down from Nashua into Boston now are the people who. You know commute from you know down to Providence from you know norte is a southern Massachusetts and stuff like that it's it's tough I think for a lot of people. To get by and a 150 miles unless you can charge at work but if you're say your drive you work for Citizens Bank in your driving from. You know from North Shore Boston. Down to Providence, Rhode Island in knee maybe 7080 miles. If you could charge when your work well heck then your five. Bill building a charging stations problem it really is you know and aides it's is definitely something that you as they're expensive be they tended. Really doubt it together price they do it makes it lightly if you buy electricity for your electric car. From day one of those charging you guys seemed charging stations RES where you pay like five dollars trillion dollar of electricity yet you really get. So that's the you have to be in order for electorate. Cars to make sense either have to get from your employer at the office at a reasonable price or yet to be of the charge at home. Where are your prices very reasonable I'm. Just curious to see what this things it'll look like an ill just because historically the track record with electric cars has been so bad in terms of how they sell for Tesla. Historically the track record has been so bad with how they look again tussle loses money and effort vehicle in it so I know it's like they're not a proxy for what's real today. I just I I want to see something that looks the specially from Nissan. I don't feel like they make an attractive car across the board let alone the winner the rogue is the best selling car yet bestselling. Looks okay right now let's see if victim alternative a lot of people are buying that there right now. But yeah I mean you aren't in general their their cars just kind of men yeah it has value added it's a little boring I think if they Wear their opportunity lies is if they come out belief. That's even a 150 miles under 30000 dollars and looks good. I think they've got home run and I to get himself I think people would buy that. Part of the problem they they haven't sold one. Yeah they've they've sold more electric cars and a video of the problem is they've sold half a million at this point they were expecting to have sold around one point five so they've only sold a third of the ones they thought they would up to this point part of the reason is gas prices are so. Well part of the reason his range you know they people don't block the I I have friends that have bought belief and had 75 miles a range. And then sold them at steep losses like if you look at the resale value of used Nissan leaf has been good. Terrible it's absolutely terrible I mean it's if you think your corolla is gunned down in value very Honda accords gunned down at night. Take a look Disco look that car boomers are jointly by used Nissan leaf of the miles on it. For shortly shortly. A friend of mine is trading in her niece on the issue on the book trading are Nissan leaf for a tussle offered or 3500 bucks for anything was as it. That they have really very little. Trading die anyway up next we'll be joined by John blank from Zacks will also have the answer answer our trivia question from our insurer match dot com. To. Trophy agenda has stalled. But there's still much to discuss Barry in charge of the latest every day beginning its end only here on the financial exchange radio network. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are required to start taking withdrawals from your higher rate the problem is that many retirees don't know how much to take out of their hiring a war they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher -- penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Or FDIC Newman in the ballots fees may reduce earnings rates subject to change without notice and may change after an account is opened hi everybody it's very Armstrong and taught. Ski joining you here for a quick legal exchange tip and taught I wanted to talk to you about these trusts. Do you in that need to create trust if you already have a well I get that question alike you know like I buried underneath trust I've got a will. You know sometimes talking about the basics is most important and in your right and people are so confused they'll come and say. I have a will lies they plan is done. With it's really not folks and and and and the reason is once you ask yourself that question so if you just have a whale just ask yourself this do you wanna avoid probate. Well if the answer is yes will not doing now atlas you don't own a house you own nothing if you're poor you. Will probably spices does it could designate had no assets make sure you put like designated beneficiaries on your bank account you brokerage accounts. And you don't and trusts are for people that have accents rightly real properties. Got money in brokerage account. Peace rules that immediate two pieces. I think that's fair I think that the safe thing to do with it if you if you want an ill will as the wall as it won't avoid probate it will reduce estate taxes you're right if you don't have. Anything you know the only familiar in mass to have an estate tax though we'll will reduce your state tax it won't avoid probity and won't protect your assets from the cost of long term care. If that's a concern of yours so those are three Waltz that will will do so I think the answer to the question is yeah I think you need more. Then it will most of the time time to get back to basics folks call Cushing handle and get their guide about basics of estate planning. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com it's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange coda. The financial exchanges live on FaceBook and YouTube watch Barry and showed discuss the issues of the day and see which one smiles at the most. Is it financial exchange radio network. In the years 1962. Cumberland farms opened the first ever convenience store in the northeast ten years later the company became one of the first places anywhere. To offer self serve gasoline. Nick from Foxboro had the right answer this question nick takes on the 25 dollar gas card the mobile as his prize. Contribute today's brought to you by zero and lead a bank's online rent collection tool. He rent is perfect for the busy landlord. He doesn't have time to make deposits back if your landlord and your interest in the zero program. Call 7816418691. We're joined now by John Blake from Zacks here to talk about a couple stocks today and John thank you for joining us. Donald start first with Micron Technology ticker on this company is and you. They are pretty much at 852 week high right now and year to date there about 50%. Are you still bullish on this what are they get in close to a peak. I'll know I I think all that it bought it looking for even higher hide so you gotta love this exact number one rank strong buy short term call and it got. And aid for value long term and it Beckham have been a deeper growth was done doing paper. Our long term store at the top 1% industry. You gotta love this stock is that the number one player memory right now and the right to remember you're holding up we're going higher. And this company is reaping the benefits of that though. No I think is back in your alarm way you've got to credit earnings growth ratio which is you know but the right valuation metric to look at what happened there. This is way below why I mean even one as is no well I mean it's been would be. Sort of getting to be worried but we got stuck in doubles here. But you have to worry about it is is a membership bid as did technical. And someone you know mental part of our second dot is as what all happening in and giving you the barricade. Brooke for micron because of what can I meters or make a memory chip and well I happen right now that not happening seat for the next few months at least you got you got what Mike. Boy and that's my question the computer hardware business always scares me because we've seen it it's a low margin business you get new entrants that always come in. What do they have that that's really a a moat for them around that business. That's a good question I don't think to have them only just got a lot of scale and they and it and that that was keeping remote and that's not really a huge multi you have to worry I I would tell you you have to Wear long term about this stock. Yup but I. Again you've got to play here. Where short term might mean you know at least a year or two before that that that are at the bottom line two point well made beyond one year yet we're stuck. Let's talk a little bit about Lam Research the ticker on this company is LRC acts. There are supplier to the semiconductor industry were correct. Write it down stream from my crowd these guys supply the weight birth fabrication and at this. David Lamb in the past and character to bring that to a New England audience's attention because David Lamb. Got his doctorate might be he actually came out of a chat it I generally. Chinese family that was outside of Saigon and that sixty. Now we've eighty hamburger in the United States via Canada got a doctorate at MIT and at. Sophisticated understanding of how to match. Wafers better and get more basically the boardwalk her and get more maverick get better yet. And he lifted that he was the first Asian American to lift accompany and the NASDAQ and it was Lam Research. Is it may god but. Lambert surge remains. The leader in this news this. Sleeper app and change games so that you guys that does apply equipment to make better matching. And better it will make an aberration so this is exactly what's gonna happen eventually. I prices all the upper memory chips and everybody get by Amber's thirsty yet that the cut at Libya and that stock is a rip and do it the exact number one ranked. Got a beeper value again that people grow but the other thing is that this is not a duck even not a 165 dollar. Figure shotgun that right but. Again valid nor value. He EG price earnings grow scar is in the point seven point eight grade again the stock got a long way to go you gotta like it. Very good John thank you very much for the time we appreciate we'll catch up with the soon Oca. Thank you wrap it absolutely that is John Blake from Zacks and the two companies that we just talked about once again if you do want to do little bit of research on your own. Lam Research has that ticker LR CX and micron has that ticker MU. Just seems like when you look at any stock or you look at me sector. Where they're all banking on tax reform. And it you have to ask yourself the question folks as an investor and a speaking to you not politically but. Whit what happens if tax reform disappoints or what happens more importantly than first court you don't get tax reform. What happens to equity prices. There's some definite downside potential there that you would invite an Enron debt Plano and I and I I nobody's talking about I mean look this is not a market that's cheap. Now it's it's not a market that's cheap you're trading you know 25 times earnings right now. There's a very good case to be made you're somewhere between fifteen and 20% overvalued and you don't get tax reform you might see a short turned up. Could you could doubt speaking of short term dips the Dow is down a 174. Points and the NASDAQ is down thirty points. Or illustrating 4864. Per barrel. It's sharp and very. From the financial exchange. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring -- -- they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's not too late to get a great raid on a whole 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 means a faster closing call 8776917900. That's 8776917. B 900 or visit leader bank dot com. 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 liter bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the -- equal housing -- -- -- is number 449250. Subject -- credit -- -- -- a step ahead hi this -- -- -- with an important message for you and your family if you had a successful career and haven't yet taken the time -- plan for your future now's the time to make that call -- and -- and senior partner -- -- -- have been helping families like -- with -- state plans for more than thirty years and he's got a brand -- -- out this -- called back to the -- -- help you learn about the bare necessities needed to -- -- -- state plan but will also educate -- on important items like how to avoid -- and passing your assets along to your family -- -- -- right now -- 8668485699. And ask for your free -- today that's 8668485699. You can also download -- -- right now by visiting them online -- legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free -- today protect your assets and enjoy your -- years 866848516. About higher -- And more specifically we're talking about required. Minimum distributions. Chuck when you hear that frees. Invariably. Somebody you'll kind of have this blank stare in their face because they don't know it's very hard to calculate how much each year you are required by law to take out of your individual retirement account. Yet the way it works is remember that you get a tax deduction every year when you put that money in to the IRA. But eventually the government wants to get that tax revenue and so what they do is starting at age 79 or seven and a half. They require you to start taking money out of your IRA and it starts off as a relatively small now but the problem if you don't take that amount out when you're supposed to. There are some very significant penalties that you can end up paying and by the time your eighty. The money that you have to take out of the percentage that you have to take out of your individual retirement account is a lot more than it was at seven it grows every year so it starts off at about three point 7% that first year in it grows and when he get India mid eighties starts to get to the port port seven or 8% so it does grow significantly in you have to be aware that that number changes each year. Just a suggestion here but folks who might wanna call Armstrong advisory group. And receive their 2017. Retirement plan distribution guide the phone numbers to all free 800. 3934001. That's 803934. Zeros or one. For those of you who want it right now. We can dot download the guide by going to our web site financial exchange showed dot com that's financial exchange showed dot com for the 2017. Retirement plan distribution guy. I'd securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense give leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back. A step ahead this is very Armstrong from the financial exchange did you know that once you turn said Indian half you are re. Required to start taking withdrawals from your -- air raid the problem is that many retirees don't know how much to take out of their hiring a war they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo 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 a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice -- don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. In new. This is the financial exchange with Barry Armstrong and chuck sound. You're exclusive look at business and financial news affecting your day. You're sick leave your world and stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck son. North Korea is a proxy for China China's got control of North Korea they control over. 85%. Of North Korean imports a just thing about it from these terms. China at a moment's notice can turn the electricity out. In North Korea they choose not to. And as a result the Dow is down 160. Points the nasdaq's up 31 points that we have a good old fashioned cell. Yeah you've got to pretty widespread sell off that's happening out pretty strong flight to safety that you're seeing here. Bond deals moving lower as well also confirming the move volume got the ten year treasury down 2.0 9% right now below two point one. For the first time and I get a check but I don't think we've been back there in 2017. To be honest I don't agree yet it's the first time in 2017 actually no we got down there briefly in April looks like fear gauge. But. You know largely. This is the first time actually know there's a seven year in April it is the first time that we've been below two point 1% on the ten year treasury. Since the beginning of the year we start the year that it about 2.4 five so bad a third of a percent decline in the treasury there. You know overall this is a broad based sell off right now every sector in negative territory aside from energy the only reason and he's up resisted it took a beating last week Harvey. But other than that everything is selling offering and golds up. Holds up as well mean is is this a classic flight to safety trade it's. It's it's not a huge move overall member 170 points it sounds like a lot it's still less than 1%. This is not one of those 3% days to this point lead us making us feel any better 'cause what you tell honestly it did get a whole heck of a lot worse. Yet this is too bad this like it again keep in mind historically like you see like 3% down days if relate twelve months or so. We even had one ill will I think since last January so we're due. We're probably due in India and look it's it's something that you see even in healthy markets but. The fact is that North Korea is absolutely spooking people a little bit right now. I'm not entirely sure why. Rockwell Collins is an go down they were agreed last night did got released is around 9 o'clock so the mammal. United Technologies agreeing to bio rock book called we had. Pretty much had confirmation of this in previous weeks yeah a lot. Last week it appeared that this deal was set to go through and we are seeing today. That United Technologies is in fact buying Rockwell Collins here in particular. The reason that united tech wanted to complete this purchase Rockwell is a major supplier to both Boeing and Airbus in the commercial aerospace industry. I understand that how can this not be anti trust what he uses staples was allowed to merge with Home Depot earned with the Office Depot excuse me. And in yet these two behemoths are going to be allowed to merge. I've stated that the day they. In my jaded in no I I've said before that I think one of the biggest things that can help restore confidence in the overall. Fairness of the economy out there is if we had a robust. Trust buster and they're going after a lot of these big companies that are. Practicing some antitrust practice it there so some anti competitive practices analog case was there admitting here in their in their note to investors are saying well this can give us a lot of leverage over Bo. It and not only that all but everybody the Airbus everybody else that there's no doubt about it in I think that we have absolutely. Seen things go. Pretty strongly towards the the allowance of anticompetitive practices in a lot of industries recede in retail and off what was both Wal-Mart and Amazon I've been very outspoken on those. The fact is that the US competition you have the worst is for workers and the worse it is for consumers. Fit it is aiming to take a piece out of apple with its new Smart watch. I'll tell you fit that you see a lot of people wearing that tie I don't know the resort the pressure time. Is that it gave a high churn rate very it's they have very poor. Update after three months I had one that broke the my might that just broke a couple months ago commitment of used and every deck. Did he get an islanders know now he just found this free apple on is Smartphone industry is that now he's an escrow for that now if the thing breaks article back to it how it was explained the free app has that worked. Is I usually on a free up an account to steps like any emotion tracker and we asked you this phone in his pocket yeah. Amateur fireworks. So they eat can they compete with the apple. No. No this I was quick note. That the older I know referred to earn it. Hear that bit is on my big Walt companies that are likely to be out of business and within five years during a Twitter I put them up there with Twitter go pro pro pro group on and who's the one. Boy I'll. So that there on that big wall and wells I mean. I heard and make your money this is that this is their last gasp it is yet you seem like you you take a look just they're bouncy rate now. And there seeding overall and about 600 maybe 700 million dollars worth of cash and short term assets. And there are burning the true. Somewhere in the ballpark of right now owns it depends on how they amortize things but they've got maybe two to three years Iran. Itself. You guys have. The notoriety baby boomers were talking about now have the or we started turning seventy last year. This would be your hair nets might there be on the baby boom like condolences. And it's the same time. Fertility rates. Are at their lowest point since 1909 that would be you guys. Fertility where'd you doing anything about it I'm not a production. I am I know there was off line and I don't they don't calling the baby boomers for no reason apparently they do though denial we a year. It back to work hectic all. In people wonder why don't have some kids you know there's a problem is they could I talk to your generation not just YouTube let's go to talk to people. We've got a lot of problems your fellow and we get a lot of products it's a financial issues and Daria haven't without a doubt. So I don't think anything's gonna change in terms of the fertility rate until there's either some kind of tax incentive. World financial motivation for you'll to have worked a back and wait a hundred years ago. You would have liked it's easy needed to work on the far. This this is the single biggest transition that's happened in the last hundred years is. You have gone from a situation were kids were assets because they would work on the farm they would do things around the house and so forth. To position our kids are liabilities you know we've talked it OK even without college it cost 250000. Dollars to raise kids age eighteen. Okay we know that kids are overly expensive right now because of pretty much the the role that we put them and in society. And there's a lot couples to your age that are saying I'm not gonna have to it's just too much work it too much money too much time. And I and just act beat people in their thirties don't want and they just say you know we're not having kids we don't want to what and how did he say that. How many people do you mean their seventies where he sale you know ID do you Greinke they don't know we've got grand dogs and you know that's kind nip it happens a lot. And there'll just there's an entire. Percentage of your generation matter what it is it's twenty or 30% 40% they just are committed to not having kids in and Andy. Feel a little bit awkward about it when you when you have conversation telethon comfortable I Asher. As I'm sure that in the pressure. From their parents and absolutely interest magic. And managing their parents have to sit next to beer every game there and listen alum doing a coworkers I'm doing a poor job supporting the human race because I haven't had kids before the age of 31 yet shock well. But don't you want educated hardworking people have kids I mean that's that's who know and the process all that. You do it just think about it logically Darwin do you want. Uneducated people now having lots of kids know you do I don't know my great grandfather was a particularly educating the barber yet but do you work hard. Yeah but he wasn't educated CY he's speaking yet either be hard work yet right solid work accepts a seventy hour week right. Or really Smart yet to bring something to the table but if those people that brings something to the table are not having children. That spells disaster. Networks economically because then you end up who's breed right dollars. Thank you. Strokes I think it's very literature. I don't know I've always heard you can't spot the soccer at the table than you are the soccer and Saunders kind of sitting back watching everything right now just because I'm not sure. I feel like you're trying to make me into the soccer because I know that these things are expensive to raise. You have at their fun you know it's even better than kids. Granted it's great winning singer married to one we just skip to that via that's about right and I sales Todd is there really process where you just go right to that. We at least we said all the times we've known that we grandchildren are so much fun we would just you know started there but the Smart as a way to get away now doesn't work that we have to pay the price. Let the benefits of grant took but he. In all seriousness you look at the economic impact I'm starting to see more more pain I've been. How all of I've been preaching about the birth or that and complaining about as long as I've known in many years right yeah like eight or nine go to and on ten years so I've been. A I'd talking about the old low birthrate the economic impact. Now other economists are starting to recognize it geez we don't start having kids pretty correct and I think. Policy if you really wanna have bigger families you'd. Provide tax credit you here's the thing is. Why don't we need to keep having more and more people all the time can I get that is that's how we built our economy. But maybe we've built Rawle. So you're saying it may be declining population base isn't necessarily bad thing or another I've heard we just kind of figure out how to deal with that I mean it's like this idea of perpetual growth and always more and more people in late. It's not has always been that way you know lake sometimes you don't always have that and I think we need to figure out how to build our economy so that we don't have to pressure people like myself and talker it to. You know have these expensive children that you know their dirty this Melanie cry. And there are some. There's just a lot of fun yesterday's I guess just to take my word for. Future hurricanes will be worst than Harding Harvey was pretty darn bad and there's another one coming towards us Irma. Anyway up next will be joined by Eric Ross that from Bloomberg we're going to be talking about why. Future hurricanes will be worse than Harvey. Will be back right here from the financial exchange radio network. Even without health care or tax reform the markets are surgeon get the latest info on the sectors that are winning and those that aren't right here with Berrian chuck on the financial exchange radio network. Hi this is -- -- with an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's keep have been helping families like yours with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to create an estate plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing and old right now what 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 8668485699. Or download it right now at legal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if you are small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank for a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and that ray does a lock for four years you need to have a credit rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application at 8776917900. Call right now 8776917900. Member FDIC. This is very Armstrong from the financial exchange did you know that once you turn seventy and half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates -- get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available -- -- so logon to leader bank dot com right now -- leader bank dot com -- -- a step ahead. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest view this as the financial exchange radio network. It is peak season for her kids to be specific. Peak day for hurricanes. Is on September 12. And today is September 5 we're joined by air lost them from Bloomberg for conversation about why future hurricanes will be worse than party. Good morning Eric. Hi Gloria thanks for having me. I know we appreciated. So have hurricanes gotten stronger since the eighteen hundreds is there any way to accurately measure that. Yet you can do that this sort of by proxy we note that there is at least 5% more water vapor. In the atmosphere than there was generation or so ago. We knows that sea temperatures are higher than they have span in recorded history. And those two things are really fuel for hurricanes so it it's very difficult to point to a particular storm and say well this was. X percent climate change and next percent natural. But you can point to. How the crowd has already changed. And and and see how that has affected the stronger storms. And the two points you made was more. Vague water vapor in the air and the ocean temperatures are higher. It. Whitney when you look at that. You know how would. How the weather pattern that sustained a herky sandy have spawned a cooler pastor hotter future. It's it's a question that it's that there's been aspirin in Rick Britain's. Sort of scientific environment there's. There and and and North Carolina. Who who basically creative computer model of what a fine but a lot of everything is done these days and and people who created the same storm. And then the first day he belly is of the air and ocean and and water vapor C. Sort of turn that knob down to what it was in the 1980. And then he turned it up to what it might be in 2100. And what he followed with that the difference between 1880 and two top ten and twelve. Was discernible but not huge. And that the difference at two in 2012 and 2100 went to rather monstrous and scary. So what does that mean for areas like New York City you think about how badly New York City was damaged. During her teen scene near the Jersey Coastr. You what does that mean for future hurricanes they they gonna start getting up to Boston and into Connecticut. Possibly even now with one of the road what a dangerous thing results from opinion piece study that was done in North Carolina. Hurricane track. Because. Between 100 sandy was more intense storm. The hurricane track farther north and instead of hitting southern New Jersey had hit. Eastern Long Island or or eastern Connecticut. So. It. More intense storms they do believe me it's farther north than and of course in the within the last. Ten years alone Vermont. You know in particular has been I think the terrible damage. We were gonna get from Irma any thoughts are you. I say in who everybody on the nose for the National Hurricane Center told listen it's telling us now that the storm is tracking west toward the Bahamas and in Florida is preparing for a major strike very serious storm. Category five which is the highest level with wings stopping 175 miles an hour or so. We hope that that will dissipate before it reaches the centers of population. What was Harvey maximum speeds 15140. Gosh you know what I don't remember it was it did not he was category three when I made landfall. His you. You amity economy area I didn't memorize hurricane table. It's a great idea I put you on the spot in August that guy I do appreciate your time here thank you very much. That's Eric roster and from Bloomberg so he told us two things Perkins or worse because the water temperatures higher. And he told us that there's more water in our. Right now what we've done and pretty much of you know why how hurricanes are formed. They feed off of hot water typically in the low to mid eighty degree range and so. When you have more than hot water around they're eight and we just with the Caribbean is right now would Caribbean water Caribbean waters in like 8586 degrees exactly so when you tend to have higher water temperatures you do tend to provide more fuel for hurricanes if they do form now it doesn't mean that they're going to the knot formed just by the presence of that water. But it is a factor that can contribute to the size of them potentially if you duet the conditions on the surface for them to start building. By the IQ. If 175. Mile an hour winds at that hits the coast of Florida. Though the damage will dwarf what happened with must have five that we had hit. The United States and a trip it was Andrew. I mean India to back that far was there another one before an annulment Turkey's history well enough. But I know a lot of people of Puerto Rico and the Virgin Islands are now are pretty concerned. Yeah with good reason. Trump advisor Gary Coleman simplifying the tax code will tax the wealthy at a higher rate I'm somewhat skeptical. About this because the administration is full of wealthy guys rate Gary told a Goldman Sachs guys admonitions of Goldman Sachs guy. The president is very wealthy fans that may family man. Do you really think that tax rates on the wealthy are going to increase as a result of tax reform would he dare. I don't think they will and it's not because of anything that Donald Trump may or may not do what I'm thinking get that through congress. When you look at the establishment Republican Party right it has never been a party that has been about raising taxes on the wealthy right. And so while you may have. Within the administration as well as with in parts of congress. This this populist a trend that is starting to take shape. I don't know if you have it. Throughout congress far enough to be able to say that you're gonna see taxes going up on the wealthy so I would be very skeptical. That you would see taxes going up on the wealthy from this means. Simplification. Yeah what what a lot of the what does that mean exactly. Fewer deductions you know we talked last week about the mortgage interest deduction there's a talk about who you know perhaps reducing matter eliminating altogether. Property taxes if they buy up property taxes. If you live. In on the coasts effectively you'd get are subject to some pretty high property these these are all good things that I think are good ideas I I don't think we knew the mortgage mortgage interest deduction in the long run. But. You know my views on counters are my view on congress is that until something is done. It's not getting done so special when you talk about changing things like that you know deal with anything that special interest oriented. I just I have a hard time getting to seeing. That actually complete it up next for a talk about how nonprofit workers can now apply for student loan forgiveness will also have a trivia question for you. Our topic for trivia today is Cumberland farms we'll be right back. Hear from our financial exchange radio network. You've got Barry Armstrong. Financial exchange shall look I mean Cilic ginger radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring -- -- they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is Derek strong with -- an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's keep have been helping families like -- with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now what 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of rent day with zero and leader banks all -- rent collection tool he -- automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more would you rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816 or 18691. Very Armstrong here and I'm joined by the vice president Jacque tool from leader bank. We're talking about zero rent this is exciting because zero rent isn't method for landlords to collect their rent electronically. But there's now find it refining. Right so is he rented the product we innovated leader paint. Comedy can be found it WWW duds you rent dot net and it's essentially. And online payment technology that allows landlords to collect the rent you electronically from Tenet's. So there several advantages first you can say goodbye to being reliant on the use Postal Service. Good night to delays in the mail and no more need for paper check right. Where is real and a lot of colonials don't even have a checkbook re getting that all the time away in the roll call in and sign up because his tendon saying you didn't check the where this really starts to get funnies we knew if your landlord in you have. Multiple tenants living in units this grad students near university. Well right now they're all writing multiple checks and sending them in and fro in order a source become confusing pain in the neck so would you Reynolds who's who actually deputy each tenant's account individually. Matches in 101 payment for that unit to landlord. And then of course there are some reports in notification that electric stuff. But going back tier question a Condo association's a lot of Condo associations have been using you aren't as well. Because the Condo payments that kind of the shirt to every month at the same so they've been signing up and there's a version of the rent for Condo. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's a website address or call them at 8776917900. Toll free 87769178900. Why collect your rent or your Condo fees with paper checks. It with the modern age go to easy rent dot net or call them toll free 8776917900. They say video adds ten pounds. But don't tell Berrian jog in the financial exchanges alive every day on FaceBook and YouTube. There's there's the financial exchange radio network. Last week Cumberland farms announced that it has sold two billion dollars in gas through it Smart. 2013 will be asking trivia questions. About Cumberland farms. In what year. Did the enough wrong question. Cumberland farms received its name from an actual form we're in new Winwood was the location of Cumberland farms are text number is 68680. First let's root correct answer to that question will winning 25 dollar gas card. Come Cumberland farms received its name from an actual farm where in New England was the location of Cumberland farms Cumberland. Government nonprofit workers can now apply for student loan forgiveness. Yet this is threw up program that was created during the Bush Administration. Which is the public service loan forgiveness program. And at least 600000 people. Have expressed interest in receiving this debt relief but now they finally have the forms available. To start doing so this program was started in 2007. And what it's laid out rob had been people thought they were complying with it right. And then only to learn that maybe they weren't. We still don't know that in in the problem is that the the government back you know seven through the last ten years has said yep if you do XY and Z you're gonna be able to get this loan forgiveness. In the last year they've started to walk back back and okay. And so we still don't have any. Final decision on a lot of jobs that were initially you're supposed to be accepted through this program a public defender but it is there's a whole bunch of and so because of that. There's still a lot of people who are a little bit anxious about whether or not to gonna qualify for the program that they believed they had initially enrolled. And your talk about student loan debt in the neighborhood of what 69000. It it depends you know and a lot of case if you talk about someone who is a public defender they may have even more you know having on the law school. They could have a 12050000. Dollars in student debt so. It's. 30% of people who are. Apply for this program that more and 100000 dollars in debt. So it's a significant chunk of people that have those elites and now they have a format to find out of the world right. Yeah I mean that's it and maybe it's kind of the bare minimum requirement is is being able to fill out a form I mean I still think. That until you actually see how these start processing shortly. There's still a lot of questions about. How much would you pay to have spicy show up and speak your corporate event he's now available Sean Spicer. Is on the speaking circuit and his post White House gig he has joined with the name of the groupie joint. It's the other worldwide speakers out there and and they have. Like George Bush is 88 they have this is where you go if you want a big high I mean my in speaker it seems to be a little bit of a drop off from George Bush. And spikes you know Detroit. Well so what. What's your view George well I was president for eight years we're about each on all I was the Press Secretary for six months very entertaining pressed very entertaining I just don't know if he's going to be able to command the fees that you the other guys on that's how much and think you get her speech. As I tried to look it up by design I would imagine so like if it's got you fifty grand add that you to be on that list it's going to be 50000 I don't know me so I look at you know you're big speakers your bushes clintons Bernanke they'll do about 25. Okay 15250000. Speech. If I'm looking at Sean Spicer. I would pay probably ten to 151000. And order is the only because he was the one for years when you went corporate events like Rosie on August point five. We have somewhere in that ballpark. His friends from Winthrop called him America's guest. Pakistan that the actors is the key that he did a ton for like twenty years or so he may very any pattern if you ever see him speak. You historic another person knows terrific ice ice on the company meetings. But spicy EU think what would you say twenty current ten. If tiger right down on the prediction board as we should find out sooner at the U. He's all he's joined the group now it's it's a matter we have to pursue this and find out what it costs. To have Sean Spicer speak that your corporate event. Does anybody that's wouldn't be yeah that's that's what is extension of plastics manufacturers. And they'll invited to speak exactly just I just don't know that he's going to be able to yup kinda have the same. Gravitas in the same. You know message that some of these other people do you notes they're kind of like twelve bananas that the president now that's right he's he's got a he's got a job. Back to the basics like complete guide to a state and asset protection playing this is a freak I'd be made available by the law firm of Cushing and Dolan. During the month of September. Heidi get your free guide glee can call 8668485699. Or you can do most people do. Which is go to their website legal exchange showed dot com all one word legal exchange showed dot com. To get your free guide it's called. Back to the basics it's a complete guide to a state and asset protection planning a stock in new young couple the other day. And they're having their first Kitna said do so Libby got a guardianship. Nadine knows what kind of stared at it it needed via honestly did and he didn't have wills it and many excel. It's back to the basics are talking about wills and durable powers of attorney and things like that. Call Cushing handle too free at 8668485699. Request the guy. Back to the basics it's a complete guide to a state and asset protection planning or go to their website legal exchange showed dot com. Bodyguard. The movie bodyguard stays on top so to speak but boy what a lousy summer it's been for movies. Yeah ID it is been a a disappointing. Summer movie season in fact it's expected to be the lowest earning summer movie season. Since 2006. OK so the worst summer movie season eleven years now. And potentially. You know there there are some people think that it could get even worse but. It is just beneath a bad finish to the summer and unfortunately about movies does I think people are watching as much as they ever. They just not going to that the leaders of the south again people watch Netflix watch who watch Amazon. But maybe they're not alone theatre and yes so I have a good family friend who watch has been in Hollywood for about the last thirty years. And actually sits on the academy for the Academy Awards. And so. I've had I talked him a few times a year and usually you can chat about his business and kind of however things working in what what his opinion is. Is that the best stories that are being made in two projects right now. Are all going the series replicas you can tell in a more in depth story than you can tell an hour and a half two hours sleep and are you referring to like Netflix and Amazon. So yes so what what he's effectively said is that something. Such as a you know game throne which might have previously been. Five or six movies is now being made in the 6770. Episodes of TV because you can go that much more in depth designing more money doing. So it's. Yes and no they don't make more money up front doing it because you don't get that billion dollars in ticket sales. Would you do get is the record revenue people subscribing. And not having to worry about whether or not they're gonna go watch something now month all you cares take. Did they paid subscriber right because when idol watcher when Tucker goes and watches chronicles. On Netflix right knee Netflix is paying HBO for the rights to air short and and you know it's on now it's not. And it acts but but yes so what what he's effectively said is look all the best content right now it's not going into movies that today so is this is good in Hollywood. I would think they are all if you think about all these new venues that are available and that are starving. For content right they need the business has to be great if your actor writer what he said is that if you have a big franchise is okay. Business is great. If you could save that franchise you mean Star Wars marvel if if your studio and you have one of those franchise business is great if you wore an indie director and India actor. Business is great because you can find all kinds of places that'll pick up your work that previously would know because you didn't have the distribution available over the top so there's more work available for actors and writers what was he also said is cities that happens to all the vitamins doing well. It's similar to what we're seeing with the overall American public that middle class that movie that used to get made for thirty million dollars doesn't get made it. Because there's no market for that it is either cheap. Okay on the low end or you're going big budget tent pole like gay avengers something. There's been a Manchester by the seat which won a lot of work isn't cheap but it's cheap to make to that Amazon. Yeah the under wrote it they did not only body that they thought it was an Indian movie and a first this is if it's pretty much exactly what he's talking about is this was a movie that was made for eight and a half million dollars. Okay and if you or someone who's making movies are making projects in that range. There's all kinds of opportunities out there if you wanna make something that is a unique movie with 4050 million dollar budget today and it is very difficult to get that under. As well as late as when your kids usher area although step in things. My kids Adam lately they lately and Lago village in the based lord's audio like those. Every yeah every missile popular. Evidently not so much they're firing fourteen and workers yes slashing 14100 jobs they have their first sales drop in a decade and let you guys are ebony and faults might be I mean it's it's probably true in your mind as a company that has branched out. And they have bogged down in what are they gonna talk to movies are story. Like removing the Lego Batman occurrence yes so maybe two movies. And so they've been branching out in entertainment in different areas but there's a company that employs about 181000 people. And you'd be laying off 14100 about 8% of their workforce by the end of this year so it's going to be coming pretty quickly. And the big reason is that revenue was down about 5% this was not the case where they lost you know 1% and revenue 5% revenue decline in the years pretty significant. I just order states cut its housing is combination. Fewer child children being born but also maybe kids are playing with the stuff that you wanna know what I think one of the the biggest. Biggest negative impact on like it was going to be in the long run is Tucker you familiar with my craft gesture yeah so my craft is a game that allows you it's it's an online game analyzes build different things and do different do you think it's pretty much like those online virtually -- And I think it is having a negative impact on these types of things because you can. You use the same kind skills and they plan on Boehner and done your phone you can play with other people and so forth it's interactive and and I think that is something that is having a negative impact on like coaches because he sent a plane with these things year you know. Eastman whenever. You sit on your phone playing with people on my. Up next will have a conversation about pumpkin spice I hate to admit it's already here September 5 the worst it's already out there everybody released him on September 1 this year he. That's next from our financial exchange radio and. The financial exchange for Barry and chuck is live on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking -- -- one point 15%. 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Hi this is -- -- with an important message for you and your family if you had a successful career and haven't yet taken the time playing for your future now's the time to make that call -- and -- and senior partner -- -- -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new -- out this -- called back to the basics -- help you learn about the bare necessities needed -- created a state plan but will also educate -- on important items like how to avoid probate and passing your assets along to your family -- -- handle -- right now -- 8668485699. And ask for your free -- today that's 8668485699. You can also download the -- right now by visiting them online -- legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free -- today protect your assets and enjoy your -- years 8668485699. Or download it right now -- legal exchange showed dot com this is very Armstrong from the financial exchange did you know that once you turn seven Indian -- you are -- Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan called the Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Securities offered to securities America incorporated member -- SIPC and advisory services are -- securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated if you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero cents and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the -- -- leader bank right now if you're interested in C ranked the number is 8776917900. That's 8776917900. This program will automatically -- your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that -- sign up for zero into upon the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period he -- does a free service if you have an account with leader bank and if not they'll simply cost you a small monthly -- cult leader bank right now and 8776917900. That's 8776917900. Or go to -- -- dot com for more information member FDIC. Security suffered through securities America into members finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question as financial extreme show dot com while you're there buyer of the media player and watch the show while you work. This is the financial exchange radio network. Peter bank is offering any savings account providing free online banking with anyone. Point 15% annual percentage yield. This is an online product only and no minimum balances required to log on to leader bank dot com and sign up today. We debate the step ahead member FDIC. And in 1939. Cumberland to farmers purchase Cumberland farms to single cow farm. Located in Cumberland Rhode Island the farmers went on to start the chain of convenience store hours known as Cumberland far. The winner on this trivia question it was Brian from April Ryan is taking on the 25 dollar gas card to speedway. In trivia today is brought to you by zero and to lead a bank's online rent collection tool. Does he rent is perfect for the busy landlord. Who doesn't have time to make deposits at the bank so if your landlord and your interest in the zero program call 781641. 8691 or visit zero and dot net for more information. We're joined now by Tiffany shoot from the New York Times to talk about pumpkin spice. Tiffany why are we seeing the promotion of pumpkin product so early this year. I'd exe that all of it. Or the white. So why is that accompany. Capital life earnings for all. Our. The hope is that. By going public earlier and that he'd been there and people are reached an uncapped. Bother mode. Right now like people who pub in July. Previously weren't able to get. Up the risk. Is that company back to shoot. Anchor Kurt your hand failed. That it would not immediately. Went. Out. Note pumpkin copy and all this. Pumpkin spice phenomenon is a relatively new thing where it would has it must be growing like crazy. And you like Matt. According you know. Pump it by is it for a waiver that is. We're 414. Dollars and not as the year which like Abbott 48. Is it runs the risk Tiffany a becoming over saturated because I like. I'd like pumpkin pie as much as the next guy but. I mean August we're seeing pumpkin spice it right I they overdoing it the Arab League get a outstrip the supply. Any you're number eight spot were everywhere. Any. Editor. Yeah. Cheerios or. Urquhart. But you have to consider that these bad. And have a shorter like and old. Are a lot. Like our older and it. So it's been around awhile and launch facility did the whole pumpkin spice thing is what thirteen fourteen years old and is only Thomas. Yes I would your old. But a lot of that has. Right a lot of these other product her you'd call them on their comedy. They're coming on sale are up. Very good very good Tiffany thank you very much for your time we appreciated. Tiffany issue from the New York Times Tucker sillier the only Starbucks customer in the studio that. Like I I see. I edited by it just seems like a little bit over the top I do they run the risk. Of overkill. Overkill to the point where people resented in Seattle when he pumpkin ever again yeah I mean I've gotten to that point a little bit I mean last year consume any like do you buy any of the pub and I'll have my pumpkin spice latte once for the season and that's. But I know people who haven't like every other week and something like that it's or Manny alive. Five bucks to have an and that's without tax cuts over five books for what we need it would hazel. Like a lattes just cocky guy in his. It's espresso and steamed milk it pretty much what it is but then they add is that like a really big one does a couple of notes a ground island sixteen ounces. For I guess they'll. Like I. I'm I'm vehemently anti pumpkin the the other. One OE the American Indians and into. It into a pumpkin here. Yeah I'm into pumpkin happy. The other thing that is really taken off outside a coffee drinks and everything is the beer industry. Is coming out with more all these war years in more pumpkin Beers and shipyard it seems like he just came on August match appear popped up there on August. Still summer league tournament somewhere else. Then the pumpkin craze has gotten two beauties. Is something that accurate that would mean it's 400 is must be squashed all. It must be squad this year is this year mission for 27 team yeah squash the poem yes if if elected a story about North Korea if elected an outrage pumpkin we are going to have the eighth or crackdown on pumpkin spice. It's. It's ridiculous it's like oh we take a poem and spicy going to my picture taken out picking vehement and so which bought a Wear a flannel went flannel. The Dow is down a 140 at all on. Oil prices are up the dollars 354864. The NASDAQ. Is down 41 points and he has some peace down thirteen points it's very good shot. From our financial exchange. Radio net.