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Full Show 12-7-17

Dec 7, 2017|

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

This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Big Boeing is in the news again. A Volkswagen executives actually going to go to jail. Student loans now exceed the amount of the junk bond market. And there are going to be twelve. Thousand layoffs at GP hi everybody it's very and chuck with you here on a Thursday morning and some of a gunshot. I each goes through the news every day and say I don't wanna talk about that point I don't wanna talk about that point but I did last time I checked decline was trading it. 151800. Dollars a cooling. I hit it good that would that about ten minutes ago. We know we are now over sixteen now it's a team shoot seventy so we have seen in the last week. The price go from about 9500 up to this point to its nearly doubled in the last week it could go to 400000 according. It could today. No now we know that you know it could go to 400000 the only thing that's. You're owed one today that's irresponsible training at the the the reporting has become on this topic. I saw. Yesterday as what to Bloomberg television. And they had somebody on in a suit and tie in and he looked like he had an education knees he's predicting it 400000 dollar price per point and I today us. Know in the in the longer and you could see it. Well I guess in the short term no. Keep in mind here in its interest in the coin right now that total dollar value that's invested in bitcoin to about 275 billion dollars right now. A lot of money that's poured into this and in just about all that his recent okay. There are hundreds of billions of dollars that have poured in in the last six months part of that it was about sixty bill we're do you have your cap EU had a bitcoin corn base. Because. It in a point something out. Two news as it relates to those of you for active investors in bitcoin. Last night in about 3 in the morning. Seventy million dollars a bit cooling was stolen from me crypto currency mining service called nice hash now. Nice hash is based in Slovenia. In the big problem EC with a lot of these exchanges and trading platforms is they're not reputable while I'm not dying. Right aka the guy that lost that seventy million dollars gap has no recourse now. The end and folks say that that's what I would ask these accounts are not insured they are not protected in any way shape or form. This is money if you don't feel comfortable going down to foxwoods. With this money. It is not money that should be going into bit cool. Well and in my what I wanna make sure people understand and am not trying to dissuade you from your bitcoin investment you made a lot of money in congratulations. At least you made a lot of money on paper. But I what I want you to understand is if you owned shares of Macy's. And and I'm looking at Macy's right now and it's trading at 25 dollars and 62 cents should we talked about yesterday. And let's say you had a thousand shares of Macy's in your brokerage account and it's worth 25000. And change. If by chance somebody hacked your fidelity account your vanguard count your Morgan Stanley account or your Armstrong advisory group account. And he stole your 1000 shares of Macy's. You can every course you could call the deli and say hey I had a thousand shares of Macy's in my brokerage account and it's gone where is it and you know what. Fidelity will make restitution to update first of all would never happen it's very difficult to hack but bitcoin theft. But it's a regular occurrence. It's it's very regular and because it's done completely anonymously you don't know who has these coins you don't have anyone to make you hold because these are not protected by SIPC or anything along those lines if you could lost all your money. That you invented you know every going worse you could go to more Healy who's the attorney general for Massachusetts and she could do nothing absolutely nothing. To help you couldn't give my money back. Could not get my money and I think people know that it is like just generally speaking do you think it is there any. Acknowledgment. Of that fact do you think the guy the and he's seen himself. Hold on I have got a I've got three of those points and that I I thought they are worth 45000 dollars. Indeed but it they're not insured and and and you know I can't I don't think people understand. The this it this is an area right now where look in the long run this could have value and it also could have known because. Keep in mind at this point bitcoin has no value aside from what we subscribe to it's the value of that network and the ability for to be a potential store of value. If no one decides that it is stored value than it has no value there's nothing that backs and actually there's nothing that's there. That makes it worth anything inherently and so what we're I've come to this point. Is. I don't know win this is going to end. But it's not going to end in a pretty Wayne here's where I why. So yeah yeah I gonna play devil's advocate here and and and I'm gonna pretend like I believe the guy that told me yesterday it's going to 400000. So there's two pieces one amused talk anecdotal cut. You've ever beanie babies. The little you know beanie shortly him being back things Tucker you remember being babies now think our connector just. And be babies had a collective ever ever once it all they're going to be worth thousands because this ones where a nail it produced so many in global law. And people went out they backed up the truck and loaded up on beanie baby saying on gonna be able to retire. In Elvis that no one wanted to Manhattan. Yesterday. I was reading an article you go to crypto kitty is now. Talk again what a crypto kitty is no a crypto kitty is a virtual beanie baby. And it is backed by is the Miriam which is a virtual currency similar to that point. We now have gotten to the point where we have a nonexistent asset being backed by another nonexistent asset the people think is actually going to be worth something. And people poured a million dollars into these crypto kiddies yesterday so they can have virtual pats on their desktop but they're supposed. This is worth nothing. Now he. When we get past anecdotes and if you look at the sheer volume and speed of this run up. It dwarfs any other runup in markets in the last 200 years. Wayne will a regulator. Get involved would like where's the Federal Reserve on this where's the Central Bank where's that where's where's the president on this issue went. We lead they don't know enough. They don't they don't know enough wood but I've been surprised by. Is the lack. Of oversight on something like this why ice well because chuck you know if if this were happening with a stock. Right but let's let's say this was happening with Bank of America stock and Bank of America stock went from twenty dollars per share. To a million dollars per share. The deer and get people would be saying well why is it going it would what's happening we have to do an investigation. Here you've got. People you know making lots of money on and paper and and somebody bought that. At 161000 dollars appointed somebody may need to purchase today at 161000 dollars. When the tech bubble is going up when 99 I was happening in the NASDAQ was doubling every year. Did anyone say. Hey we need to stop this yes Alan greens now Alan Greenspan says hey this is getting irrationally think this irrational exuberance but nobody said it did Alan Greenspan make any move to say. We need to investigate. Janet Yellen has as nobody said it went when have regulators or legislators ever been ahead of the term. That's leading our behavior that it's only after the fact that you see the crackdown we saw with the mortgage dropped the sub prime crisis did anyone sit there and say. Gee this is something that we shouldn't be doing there with the word though it back but it was a handful like did anyone actually do anything. Like any. Anyone in and I know you'll like the power to end up doing anything no we know we've all seen the big short right over the couple traders profited hugely off because they said hey everyone else is dumb but did anyone in a position of power to actually prevent the losses that happened. Actually stop anything no with. You do is after the losses occurred. The cumin and point fingers they but they have to deal if I'm Smart enough to understand that this is a bubble and fraud then how come. Yeah I from the attorney general's. Saints I mean the what bothers me about the story is what its people its not a fraud. People are going to lose a lot of money. And and we don't know that it's not a fraud because it hasn't unveiled. You know it's it's like a Ponzi scheme you don't know it's a Ponzi scheme until collapses in LA and and this this to me. The way you're probably right I shouldn't use the term fraud but aren't. Some yeats whoever somebody's gonna lose an awful lot of money on this. And then there and and people are going to be crying about it and there's not going to be much you can do there are going to guy that lost seven million bucks last night he is SOL. Folks there are going to be people. Who lose their entire life savings on this and it's again it's not because they don't believe in the promise of a point I do like I think bitcoin has a fascinating. Potential appeal over the next twenty years. If this is regulated. But this kind of market than. Has net as is literally never be in sustained. You can't have something that doubles every two weeks for it just it doesn't work in in here's how markets collapsed. It's not the people who got in first that decide that they need to sell their fat happy the person who bought beat point two dollars now I wish I was him but I wasn't. The person who bought that point two dollars bought 1001 is that they're saying. I'm laughing all the way the bank even if it goes down 5000. Hey I don't care I bought in at two I don't care. The people who were gonna get whacked by this is the people who bought on margin. At 121013. Thousand were 161000 MW with a margin call have to sell everything. By backing get whacked again in the market just cascades down because everyone is panic. And I can get. I can't guarantee these are not allowed to guarantee it act that was get a tight I was about to correct you I can't guarantee this because I'm not allowed to guarantee it. Watch out like this in NIC it is because. If it's not that you won't make money in the long run. But be careful with this be very very careful. How much total student debt is outstanding the dollar amount will shock you. In the next segment will be joined by Liz McCormick from Bloomberg to talk about student. Loan indebtedness that's next from the financial exchange radio network. Berrian judge have the latest every day beginning at ten only here on the financial exchange radio network. Many of you listening to the legal exchange know that Todd lets you spent his career helping people just like you with their state planning needs the common theme among his clients as the question of legacy claiming we all leave our children in the best possible shape but gifting our assets be at home or vacation property in creating huge capital gains tax problem that the kids used to sell the home. The problems can become disaster support of the adult children has creditor issues or goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides an article stab you worked a lifetime accumulating wealth. Now you should spend a few hours making sure it stays in your family though right way. Call 8668485699. Or downloaded right now have legal exchange showed dot com. 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 liter bank is offering in east savings account providing free online banking with me 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 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 change yet. Free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank step ahead. Hi everybody it's Barry Armstrong and Jake two million were talking about a program called zero. This is specifically. Designed. For those of you who wore landlords and used to collect your checks. With paper checks are gosh maybe still do will zero rent allows you to collect checks. Electronically. JO hoping he could spend a little bit time explaining how he grip works and why it's a big advantage for landlords. It varies so we we develop the rain to. Out of me to hold him out because right now you know with the landlord when you're. Range. Low unpredictable. Missing envelope the great line in the post you waiting you might not get all the rent until the tenth or fifteenth of the month. Furthermore if your landlord on vacation your red thing you know what he does is it really teach they'll. 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Go to zero rent dot net or call them told free. 8776917900. Securities offered to securities America member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong represented a Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic updates from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. We know that many of you have jobs that keep you busy all day long so we've made it easier for you to catch up with the financial exchange when it's most convenient for him. Just download the I heart radio out on your phone or tablet searched the financial exchange in Europe access to all of our content including individual segments. And fool shelves. Student loan debt is now as big as the US junk market that's a headline for an article written by Liz McCormick from Bloomberg and she joins us now. This hour. I can parry you thanks for having me. But do so what's the total amount of student loan debt that's outstanding across the United States today. Though now the total amount of the loan debt is one point 36 trillion glitch that. More than tripled over the last two decades the amount of student loan debt outstanding. While it what's the yet how much of that debt is in delinquency your at least ninety days late. Well still. You know it's interesting note in New York fed study that showed. You know I don't have it hard number on that all the debt but in two for the student to graduate in 20101011. With his eyes ears 28%. Or delinquent on their student loans. And and that number jumped to 42%. Or those from families that are had incomes below the national average yeah. And the delinquency rate on June alone you know Goldman Sachs an interesting report which I noted in the story that. Are are higher delinquency rate of auto loans and mortgages and Mike is that kind of areas careers. More than ninety days it's like nine point 6% on student loans compared to what one point two on mortgages. Like you go to would junk bond. Right if you bought a junk bond exchange traded fund the delinquency rate on the bonds held in that ATF might be I don't know three to 5%. Right right yes that's. Check these are terrible investments who'd be dumb enough. To buy student loan debt. Well you know that the lender student loan debt is at the the government. The US treasury it has the lion's share of all that there of the lighter than it means direct student loan programs of course the students and parent term borrowings. But it really is there's a small fraction. Private mountaineers summit that the principles act by the government so this is Treasury Department. Debt in LA it's. Well aren't you say its Treasury Department that means it's lose McCormick it means bear arms aren't right yeah right I mean it probably right isn't. Right yeah I mean innately facility the likenesses. We we made these loans under adults to us we made these loans. Would win win somebody doesn't pay back these student because I hear about this time and time again. What is it due to their credit rating you know it that 9% number you mentioned there's 25% number that I've seen in the past. If I'm the guy. They graduated in 2011. And I just say well I can't afford to make my student loan payment what does it do to wit what does consequences. Well that definitely impacts your credit obviously negatively in one of the bill kind of all of the worst thing about student loans is really the only kind of blown that isn't washed away in a bankruptcy. Those students who. Days you can't get a job or not that they can't even like this student loan debt often bankruptcy. And that's what makes it. Even worse you know more attention on all facts the facts and it effects like it's interesting there's a conference the Linear effect today on higher education and financing and and Erica chairs talking about habit. Affected the student loan debt not just and delinquency. Affects homeownership rate. Young people graduating let's lock the student there are slower by alms which you probably know that affection for your. Airlines because in your home broke valuing equity in your home is kind of the one of the biggest. Store values for Americans so it kind of closed everything down which. I don't have hard data that you it's estimated here's Florida by how people might explore again marries voters have kids kind of wrecked Ole. Yet they these young generation is definitely slow. If it's just the way it is worth IQ list I appreciate your time. No problem my players thank you. Liz McCormick. One point three trillion dollars and a jury is a good point. You know if if your saddled with lately with C averaged 120 current between 25 and 35 and it's not. Analogy if he lets me when you're when your early Macon 40000 a year it is well don't make 40000 here well. I mean it. Not about not trying to be asked but. Like if if you are if you got 40000 dollars in debt and let's say who would you sit high and was 35035. Yeah. Well if you're gonna borrow 35000 dollars to go to college and you're dead. You bloody well better study something. That's gonna make sure that you earn a good wage don't be studying sociology and say. She in Roma. You know homeless. Social worker animal in Macon 20000 look that's a choice issue many. It is but keep in mind even let let let's its own makes the average wage in the US and what's that. 55. You know it's like the the average person isn't bringing home 120000 dollars a year you know it you know what. Bought it in this is just a pet peeve that I I I see these stories straighten their. You know they're porn on your heart strings it'll you know we should be forgiving the student loan debt. And then I'll I'll look at it now say well OK I don't think forgive them but I'm just saying look it's. This is why it takes longer for people to move on habit when Utley. We when your make and would you say 4050000. Dollar together. Wanna get a second job agree why not why not get. Work some overtime light I very what why not develop the skill. So that you don't make. 50000 dollars a year and you make 70000 dollars a year I agree with all those things but that doesn't mean that is not the challenge to get rid of these on the salaries how deep do you buy into the theory that. The just the student loan debt is the reason your generation. Isn't buying homes is the reason you your generation is not getting married is the reason your generation is not having children. It's a major factor it's not the only one. He is like is it more expensive today is homes are more when he percent to 40%. Say it's probably somewhere in that 30% range so with the other seven. The about the cost of either raising a kid or buying a home compared to your income and look at what it was previously. All that stuff is more expensive now compared to what it was back in the seventies and eighty C we didn't know the time we had our Q when are you did it wasn't as expensive. We know we really EU EU but it is what an expensive. They guys and it wait what's the expensive part daycare. All all bit like buying a house is far more expensive today compared salaries than it was back in the seventies and eighties mean you'd like. If everything is far more expensive when you compare to where salaries are costs have risen far faster than wages we notice. So if you're sitting there saying gee I'm gonna try to raise a kid I can't even you know take care myself I need time and it is expensive to raise a kid. I made any day in and I'm not saying this because like I'm complaining about just needs the nature of how we use today it's more expensive. Up next we're and take a look at that CBS at the merger. We're gonna ask the question do you have a doctor that you see regular adopted. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on 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 -- hassle out of rent day we're zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit www. C rent 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 dug see rent dot meant to learn more or call 7816418691. 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This program will automatically -- your rent -- into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that -- and sign -- -- -- -- upon the execution of their release and why wouldn't you wanna do that once it's set -- you never have to make another change during the -- period he -- -- a free service if you have an account -- -- bank and if not they'll simply cost -- a small monthly -- co -- -- right now -- 8776917900. That's 8776917900. Or go to -- -- dot com for more information. Member FDIC it's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing calling 8776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Many of you listening to the legal exchange know that Todd lets you spent his career helping people just like you with their estate planning needs a common theme among his clients is the question of legacy claiming we all leave our children in the best possible shape but gifting your assets be at home or vacation property and creating huge capital gains tax problem that the kids choose to sell the home. The problems can become disastrous if one of the adult children has creditor issues org goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides an article stab you worked a lifetime accumulating well now you should spend a few hours making sure it stays in your family though right way. Call 8668485699. Or downloaded right now and legal exchange showed dot com. If you're real estate or property management company Unita banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers -- on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner or call 8776917. To 900 or email BBO at leader bank dot com for more information member FDIC equal housing lender. Time now for Wall Street watch a look at the market's performance so far today until Darian jug right here on the financial exchange radio network. You know idea and learning more and more about this acquisition. Of Aetna. By CBS and we've talked about the financial side of that the 69 billion dollars it's going to change hands and the compensation that's gonna go to the CEO of that mr. mark burnt weeny. Would I was fascinated by bill is the gap that Aetna is trying to fill here. They're real important part here is that as a country we need to understand that almost 60%. Of Americans. Do not have a regular. Doctor and. I'm blown. Do you have a regular doctor yes you do music you would how often deal. He told me that my agent in my peak physical condition that I happen to exist in any to go once every three years what about you Tucker yeah regular doctor you do. Welcome. I'm actually. Relieved to hear that. But across the country. 60%. Of Americans. Don't have a regular doctor DB MI the only one that that surprised by that it's the same time out. A total will be probably 30% don't have a regular doctor. Somewhere in that ballpark just the team finally all the people who Evan and health insurance for a long time like it's it's clear that they wouldn't have for regular doctor butts you would think that. Anyone who does have health insurance probably has won because a lot of those things you pain you know you're ten to twenty dollar co pay and your outrage. Right well Lou our poll question today is I would really hope you'll participate in this one just because it makes it more scientific. Do you have a regular doctor I had the same doctor for twenty years. And I don't know what have them do it here retires. Our poll question on it's on our website financial exchange showed dot com I'm just curious about our listening audience as to whether or not you have a regular doctor I think he showed. I think you should but the boy lead. That CBS is doing it and trying to fill. Is there they're basically trying to created genius bar at CBS so you can go into any CBS there's 101000 of them across the country. And 90% of the population lives within several miles of the CBS. But I think what they're trying to do chuck news. Develop a clinic type environment where you could walk in NC to happen in headaches. You know after a launch. You heard it here first okay. I was right about Dunkin' Donuts eventually dropping the donuts from the game you resisted that have to do that. CVS when you walk into restore five years now the layups gonna be different. You're not gonna have just all the aisles and everything front and center the first thing you see beat clinic will be the first thing that you see. Then they will they will change the Al Gore got their stores like a check in desk editor of the regular it would be so if you walk into CVS normally you come in like the laughter right corner that I easily sender entry. Jerry come in on the on the left side and the entire left side. Will be the clinics there will be someone sitting behind a desk there will be you know some others and tables are beds or whatever you call home and stuff and that will be front and center yet that is what they want to promote. In the end they're gonna want you Tucker as you walked by to step on the scale. And and your weight should that will be fraught inspect it is and they don't want you to get your blood pressure on C I don't know if I agree with that figure they'll put the clinic out back of the store because they're gonna put all of that word all this all the stuff to buy and walk through the store. Like your dealer in some shampoos of the world but the margin the money did it to be made Tucker yeah is going to be on the service. Knowing that are not on certainly agree with that erosion deodorant they make about 10% of CBS sales those are going away. There then I'm gonna carry him none of them they will all saying is those sales are dwindling because I don't buy deodorant at CBS in taught about on Amber's. I hope I don't buy toilet paper CVS and abide on ams and I don't buy shampoo anymore is on a pair. But give it that he's the general things that you see but it. I think you're right chuck the the where they want to promote and right now when you locked into a CVS store. Lisa when I go to there's a little bit of a clinic in the back corner. And you never walked by it. This will be front and center. Tiger I agree and it's going to be away. That I think you're gonna be able to get you beyond the test for sugar right he gives up your finger in something in this failure your sugar up or you're you're going to be up to get a blood pressure testing. All going to be they're gonna have been a lot of these automated devices where you do your blood pressure without anybody help in all that stuff. And what that allows you do that is also build a record saying okay here's you know what I've had the last couple times I've come in. I think this is going to I think in the short term it's gonna have some high cost them. But I think in the long run I mean this this is going to be really good well and and it's something that will create traffic isn't doing anything about. You know rather than the unity bites a well I'll just run by the CVS store find out why runners fever it's gonna create traffic but the other thing. I think it has the potential to dramatically lower health care costs. Think about the cost of doing this first go into an ER. All Leo made 980 and 90% is going to be sold what like all those costs that we incurred the ER right now as you can push down to stick to your local. Pharmacy in a couple text here that Massachusetts has restrictions on health care in of pharmacy like a CVS button that know what to Wear it at that rate. In what way. Bull like the merger with Aetna would you know ease CVS offer those restrictions right. I would imagine that yeah you know company like CVS and Aetna both being New England based they'll be able to negotiate pretty well with you know either the city of Boston or state of Massachusetts to say hey you know this is something that we think can blow. Cost were sweeping the timeline is on the strange or three years partners in what happened pretty quickly twenty point. 617 I just got us flu shot at CBS two days ago very easy you know easy. Italy for for me I got my flu shot and my doctor but I had to call it was there anybody there to do by flu shot. And they said well yeah they should be here between three and 63 and six didn't work for you know he would if if it's kind of nice. To be able to say. T I'm not you'll tip top I'm gonna go to the CBS story and find out why the big question that I have been that we talked about the other day is also. Where do you hire all these nurses nurse practitioners from. Yeah that's that's going to be a difficult and expensive ramp up to you talk about hiring 30000 nurses aides. Mean to beat it it's like the old they eat like if you pay enough money you know what it looked at her name me now 10020. And elect a hospital and the gals that at Brigham and Massa and if there's always an external into a starter and a hundred go to lake close to two. So they're gonna make a lot more and the nurses that make it at work at CBS are gonna get paid and it's supply and demand if you pay enough money enough more people going to that you were yeah yeah yeah just it's like computer program great. You just noted from anything you back when the oil boom was happening as the G we have pay these neo drillers 100000 dollars and up North Dakota you guys driving trucks make it to underground the year. You know just. Supply demand it be if CBS pays and they will. And even if they have to pay a much higher wage it's still going to be a lot less than sending them to the emergency depth and that's what the insurance companies say it well. Rio rather than taking your kid to the dock just taken CVS store. Again I think these are going to become the goat to four basic questions yeah. Anything more it won't be guilty of a newborn you know rocket taking the CVS but if you've got eight year old who's complaining about something to say okay to get near yeah yeah that that's a big thing if Europe if you ever raced kids. You know they get strep throat they get your aches the chicken pox measles but for right in the middle. Loses. Their run and coldly at a fever you know would CBS a texture says it'll CBS clinic take people who are uninsured. No one would give him. There's the question your tax cuts it in and then get back in the north the very publicly traded company in the northeast it's largely a non factor. The answer population in the northeast is barely able 3% it yet is like two to 3%. Anyway that's that's our currency via. Hey don't forget. Christmas is right around the corner what is it December 7 today eighteen days eighteen days maybe. Time to go to leader bank and load up on gold coins only bank in the country. Certainly in New England we can walk into any leader bank branch. And you can buy your dad gold coin for Christmas what a great gift even your mom like one. Right if you don't wanna buy gold can't afford a gold and buy him some silver point anyway. Leader bank sells precious metals right out of their britches and you can use that as a wonderful. Christmas press. Leader bank dot com if you wanna learn about the gold buying program its leader bank dot com wanna get a quote if you're saying yourself yet but device American Google points. Although the phone number is 877691790877691. 7900. And vote up and it's it's it's Christmas. Volkswagen. Finally has somebody going to jail. I told someone would on this one guy. What I was had Nadal all Berkshire. Ali Schmidt is going to be spent in seven years in jail and paying a 400000 dollar fine he will not do well said but he probably is force forceful fortified. And then he's agreed to immediately be deported. After he serves. Four to five on this is a pretty fair. Deal you know you figure he was committing crimes or somewhere in the range of seven to ten years you know you're serving effectively half that time I think that's pretty fair to think the company has is back. In what way. You get like the guys go to jail. Mean it is the company takers name and the company knew about it the company. It is injecting I don't know I don't know here is you know it's kind of what is that the mob takes care. If you go to jail in the mob you know the pay your mortgage and need to carrier and I I I currently outside I I I would imagine that mr. Schmidt has enough money that he felt in Asia too much help. Yeah right he's in charge of the whole deal you know it you he wasn't making a hundred grand a year. Forty years old go to jail. And it really is its Merry Christmas don't commit fraud honey honey you've kind of see adios see you in five years. And I don't go to jail this fall. That is six years you know when made him do this moderates in the did. They when we come back. We're going to be talking to vest. And under no clean sheet that go like a lot of our listeners just the media the bail. Yeah Abiola. Zealanders were not given any notice it's noise notices next to me we're not giving you anything that makes noise anyway which Rocket Roger Goodell just how much money's as it again. That's next company to exchange Reagan. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you to understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you play and accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now and 803934001. And asked for my brand new free guide called key numbers for 2018 it's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffer through securities America incorporated member -- SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks mostly in their dues local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 7816418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. Met everybody it's Barry Armstrong and I'm joined by estate planning attorney Todd what's key from the law firm of Cushing in Dolan. We're talking about. Gifting assets can you explain Todd the differences. Between gifting assets away from an IRS perspective. Vs gifting assets away from Medicaid. Perspective this is a great question because two things one the amount you can give away for and I RS purposes is 141000. Today and come 2018 the news is it's gone up to 151000. Seems to go up about every three or four years yeah. Gotta make up by a thousand north eagle eyes so. There will be 151000. That you can give away. And what that means from an IRS perspective is that you. Do not need to file a gift tax return and you do not need to Pena gift taxes and you will not used up any of your gift tax exclusion. It is an out right freed. 151000. Dollars to anybody you want to give it to do I need to clear as the recipient that's a question out and yesterday you know. Mom gives their son. 101000 dollars and then that subtle call means that woman mom gave me via 101000 dollars to have to declare that anywhere from you know absolutely nothing for the recipient and most importantly nothing for the gipper. However the difference is for Medicaid purposes. It will be eight disqualifying transfer. It doesn't matter that it's not taxable for the IRS if you think you can give away 151000 dollars and protect it from the nursing home without creating a five year waiting period. You are incorrect. Folks it's important to learn how to properly if you're assets you don't run afoul of the Internal Revenue Service or Medicaid. Call Cushing and all and ID 668485699. Or download the guide right now and legal exchange showed dot com that's. Legal exchange showed dot com or if you wanna call you can do so by dialing 8668485699. The financial exchange for Barry and judges live on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. Did you hear that doctor about the bell. Gotta go accurate to go home plate hits it as the network show I ever done before it I gotta go with the awards show we've ever done I enjoy your microphone also there. Yes but it's not a you know I I was shocked. A on the premise of our poll question which is do you have a regular doctor's eyes that myself like I had a regular doctor white as a regular doctor my kids that rate doctors that sixty. Percent of Americans do not have regular doctor pushed us. 90% of financial exchange listeners to authority Nady chuck it. Guys in the ground. I rounded no 8% I was little nugget that Matt. There's still no I was still never told me we would have to do mask here's why. Here's why first of all our listeners are right he listens to show like why would you listen to the show in outrage earlier not where they want to or TE. You what you call them Henry's Henry's the salute to their Smart with money. And a high earners not rich yet. Out of that I'm dissent is that a great acronym. The Henry's Henry's high earners not rich yet anyway a episode that I indeed. Eighty point it's I was expecting like 6570. Neither rich in the world that'll that'll beat to a lot of listeners. Old meaning like mine. The animal. And I'm reminded of that pretty feel old today coldest Rogers dale. I'm gonna guess 56 look at tiger my age that you weren't looking up on a late fifties and same old of the fifties and safety says it's about 59. Sang 54. Who's 58. I don't by the principles in the price and right price is right I would like it or whatever those are playing personally for this where. New Year's series 5858. So for the next five years he does my foot eleven. I've been. Five foot eleven he's got a big wall. So if he sits on his qualities about six he potentially has a big for extra as. This out of a gun so he has signed a new contract now that is worth up to 200 million dollars over the next five years. I did a little digging the gear and teed amount in this deal and is somewhere between thirty and there in 45 million. But the benchmarks for easy and we don't know. We don't know that we we don't we don't know the specific benchmarks here my guess we all hate him. My guess is you average around thirty million the week just to be clear anybody knowing your patriots and he Roger dealt with good reason. But I wonder. You know just I wonder if if. These generally deemed to be doing the job because I look at it and I I I dislike the guy for obvious reasons but the be like why would you hire a guy. We knew or TV ratings have declined I don't result row I don't know league wouldn't you like I would I I heard I would have moved on. I would've fired I would have brought in. A young guy or gal. That understood social media. Because that's the you've got to do something to get people back into the stadiums you've got to do something to get people. I balls on these games I believe in the dignity what two people left. If I were the NFL I'd look raided the NBA and rated Adam silver and I'd say. That's the guy that started elect out of history of pristine job as he is he is growing that product phenomenally he understands the Internet incredibly well he understands the need to be competitive he understands that games need to be quick in the games need to be exciting to. Knows how to handle punishment he. Do you know what it would mean that tiger he can colleges can do whatever he wants whatever it pleases for punishment and what is not his own guidelines so does that himself because he's deal with a bunch of these. NBA not had no like unknown on penalties since the I've been really you know I like I say the NBA's full of bad guys but I haven't read about them reaping anybody year. Like a lot of crimes and indeed our domestic abuse really aren't they yeah I haven't have you at a now over has done a really. Really so they Q did you guys out when The Who that they what we know they just they put him like zero tolerance policy all things like that that he beat your wife like if you got cut. Punch in your wife in the face and you're an NBA play out there which happens it winds last time we had one of those cases talk I'm trying to think like you I don't know Iowa by it you know. Asked Rea what the NFL has and below 085 Adrian Peterson right he beats his kids and he's playing for Arizona I mean they make news the NFL's pretty relaxed. So what are with the NBA news. Let me I'm just pulling up the the the current assault policy in the NBA now. And some pulling it appeared that to they've came to an agreement twists. You know the league and so forth this they put this in a place on May nineteenth of this year. And so. Yet that there's some pretty strict restrictions here it. At the end of the day it's more strict in the NFL will but my point Tucker is you just don't hear that kind of like the NHL this doesn't have you don't hear a lot about in yet tell players misbehavior so of the raid in the NFL not only do the you'd hear about it but the draft who's that kid that got drafted by the Kansas City Chiefs. Another note the worst thing was Joseph mixing with the Bengals this year. Where there's video of him he's a guy from Oklahoma. Who would really just punched out a woman you know it in a cafeteria on video and just walked away do you think you would have been drafted if there was an MBA team. Like this are the kind of game out the the NBA the league office has the ability to opt hole a a a contract offer they deem the players unfit for the leak. We will their contracts canceled because that's the big problem at the of these players have guaranteed contracts. So even if they beat their wife they still get paid criminal convictions can lead to a voiding of an NBA contract criminal now. And the Deloitte you know the wife says a lot of lose all this money and restaurants that there have been a few cases recently that you have seen charges Presley in the NFL you have what's his name on the cowboys' good. Elliott now the other guy to. Couple years back. I don't know if that was have a lot of all I've and his name whenever there's. All right the Dow is up 47 points the NASDAQ up 42 the Russell 2000 up and everything's. If you have money in the market you're probably make him a few shekels today. It's very shocked from the funny to extra Adrian. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both our -- and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in 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 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Maverick DNC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead many of you listening to the legal exchange know that Todd let's do you spent his career helping people just like you with their state claiming needs a common theme among his clients is the question of legacy claiming we all leave our children in the best possible shape but gifting our assets be at home or vacation property can create huge capital gains tax problem that the kids choose to sell the home. The problems can become disastrous if one of the adult children has creditor issues or goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides and articles that you worked a lifetime accumulating wealth. Now you should spend a few hours making sure it stays in your family though right way. Call 866845. Sick. Tax numbers that are going to change in the year 2018 regardless of what congress does with tax reform. And Chaka wanna talk first the ball. About the personal and dependency exemptions and then also that change in the terms of the standard deduction amount you know let's start first on those personal and dependency exemptions goers are effectively deductions that either you receive or your dependents receive and when you were filing and what's happening next year. Is that numbers going from 4050. Dollars a person. Up to 4150. Person suits and increased. Of a hundred dollars a person so that means that for you your spouse and any children that we have for you get effectively an extra hundred dollar deduction let's look at the standard deduction how is that changing next yet the standard deduction is increasing as well and so what you're seeing is on. Be married filing jointly it's going from 121713. Thousand. If you're single it's going from 6350. To 6500. Seat yet. Effectively an extra 150 dollars a person in extra standard deduction next year's well. And so between that and your personal dependency exemptions to baton extra 250 dollars a person that you can deduct. There are some changes coming to 2018 tax code if you go to T a copy of our guide for the month of December called the Armstrong advisory group at 803934001. That's toll free 800. 3934. Zeros or one or if you want it right now good Armstrong advisory group dot com can download the guide on our website. Armstrong advisory group dot com or call toll free 803 340. Or one. Security suffer through securities America incorporated member finreg SIPC and advisory services overthrew securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. 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 we just make 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 god guaranteed by the bank and may go down in value leader back. A step ahead hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you'd understand if you want to maximize your savings I'm not gonna bore you the numbers that this is information that can help you. Plan accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now at 803934001. And ask for my brand new free guide called key numbers for 2018. It's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Security suffered -- securities America incorporated member -- SIPC and advisory services -- with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are -- affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the loss in your state your dream home is within reach with a Jumbo mortgage 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 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 so logon 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 east savings account that has a one point 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 its leader bank dot com leader bank a step ahead. This is the financial exchange with Barry Armstrong and chunks of us. You're exclusive look at business and financial news affecting your day your city your world stage and or in the end up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck soda. I'm going to be at 171000. I gotta get to keep it going 70000. Cells or else well. It's actually trading at 161950. Dollars for point. I I I try to get away from the story don't talk about that point today again Buick we have to. Where it's gonna talk about GE this hour to talk about G. General Motors is going to be making cars. Out. Carbon fiber Heidi as you about that will we'll talk about it. And then move. You know it's been five is fox gonna be acquired ideas lots to talk about it's very chat with you here on me with their. I. I love my bill Tucker who get rid of that buying. Next segment passed the exit I would try this segment I asked the audience they like can't we know I'm not asking. If and I think that at all like to battle that we poll question deals like a vacuum school lesson today. Yeah and I love our poll question tomorrow will be do you know it still isn't acted very be allowed to keep his bell milk may be needing a like every needing its. All right we've progressed and I just wanna warn people they end. The big point being it's it's due last quote 161950. Dollars 1699. Going to be 171000. Before you know. But last night they were seventy million dollars worth the bitcoin stolen. And the people that it was stolen from have no recourse so if you are out there trading big corner if you own point just wanna remind you not saying that sell well but not trying to tell you what to do. But here's here's an exercise are going to go to. And ask that you do this if you're Connecticut resident if your Rhode Island red I don't care relive the matter. A what you'd call your attorney general's office and say what happens if somebody steals might be cooling we think the answer would be to. What about you on that near the gate there is no answer navy has the event like the guy that lost seventy million bitcoin last night. Not have any million points and seven million dollars for the day cooling. He has no recourse they have. To tell you how big this bubble is OK just to put this in perspective Bob nations the do you rise in bitcoin. Is twice as much as the runnerup in the NASDAQ was prior to adopt compromised. It is happened in just 20% of the time. Be careful rules all percent. All right good good counsel good advice GE shares our other trading right now but I saw them earlier this morning in the seventeens. Sent that's in as in seventeen dollars and eighteen and half percent there. 2% today okay. Maybe it's because they're firing 121000 workers there to be putting 121000 people in their GE power segment. And these are most likely and they're going to look at Elian was hacked them in now Switzerland and Germany I thought that's where they are making their money. Was in the town not on the traditional power plants no was built in those anymore. And so they are moving away from the coal and gas power plants. And any power that they do continue to work on the obviously have some you know it employees in that area. But a lot of it's going to be going towards renewable some things along those lines just because that's where a lot of the demand is going. And very interest well. GE shares they are up on the news in a suit that's there's the reason you know somebody asked me a sock in RC FA. Last week. And she's she wants the box. GE. And not in our client Portland which just for herself and choose asked me about it several exit. What what did they do. That shows you innovation would've done that so far always talked about with G news. They're firing this they're laying off that they're cutting what's their stellar product that no one else can compete with I don't know audience and until I have that answer. I'm not a buyer of their stock right now I don't care of the dividend yield is I don't care with the projected prices in twelve months. I don't care what they think their revenue is going to be tell me what you're really good at until we were gonna get your growth because I wanna know you know where we're gonna grow your revenue would. It's it companies I view them similar to athletes they have to have one great skill in order to be able to compete you look at Amazon and yet the price and never had any skills are well rounded them. You'll rounds. Got you on the bench at least you know that have been the staff has looked good new uniform. You know and I look at where and that's how you go and a little too far and it looked good where in the suit get on the bus after the game but those of but you know you look at this and you say OK Amazon their logistics are top notch. You look app when you say they're they're user experience is the best in the business you look at Google and you say hey they're technology is the best out there. You'll get G any say. Well you jet engines are good but what what what what where's the grow. I wanna slow to give give me a year to with the CEO and I don't on the stock now and and and I'm not sure I ever will. GM my dual. And I'll tell you lab but she is this may seem like a silly story. But Mary Barre is the CEO. Of G in she's an engineer. And you guys remember where they had the problem with GM was killing people with their ignition switch it was a kill a hundred people there's 39. Non news op is I used in the ninety's I think they injured over a hundred but I think they killed 39. Or so something like that pulling and operate now. And they went to settlement uttered toward four fatalities airs right thank you. 200 senate foreigners that point is cross 171000 by the way so GM he's the the she wasn't. And CEO when that whole thing went down but she's cleaning up the mess and it really admired the way Mary Berra. Cleaned up the GMS so I bought stock in the company. And now they're doing something else that I really like. They're gonna start making their pickup trucks were they make all their money all the all the money that these car manufacturers are making up making it when they sell me shed the volt. They're not making it when the the the the cells Tucker Honda Accord they make their money. When they sell pick up trucks engine GM is gonna start making their pickup trucks with carbon fiber. Brilliant. Carbon fiber for not Miller of what it is it is all true lightweight ultra hard Alter a tough it's an ultra tough material that's used in a lot of race cars. Simply because it's very durable. And because it's lightweight and so what they're gonna be doing his liking this year the number struck. Carbon fiber is fifty to 75%. Lighter than steel yet it's twenty to 50% later than aluminum. And it's it's just as durable. And so you look at this and what they're gonna be doing. They're gonna be putting into their pick up truck beds on the premium versions because they say hey look this is a way that we can provide something you know that's that's kind of an that in. That provides a ton of value because it's gonna allow you to a get better mileage be you know hold more in there and see. You know it it it holds up very well as well and so this is something. That I think is going to be big and the cars that are gonna have this trucks that'll have this in there. They're not going to be your based versions of 30000 dollars you're going to be spending yes 6570000. Dollars on these vehicles. But it also helps them meet their mileage standards let's that's the Genesis of this innovation is that. The Knoll all these automobile manufacturers have to hit certain standards as it relates to. What they're fleet has for my tray yeah that's why they sell the small fuel efficient cars because it allows them to sell more these pickup trucks were they make all the profit yet. Well if they can take it truck it's getting seventeen miles per gallon and by using carbon fiber get it up to nineteen and one that helps. Yet in carbon fiber doesn't dent. So you talk about you know for throwing heavy stuff into the data that truck doesn't dent disease is steel or aluminum as well friend of mine uses it for boats makes boats. Place received the most is enough high performance boats and high performance race cars. And expense of its its it's not cheap this is stuff that originally came out like NASA now what are if it comes down in price though it's got to. Right that you think the more use of it evolves said GM build the plant. It's making a lot of carbon fiber got to come down costs tickled and see if the cost has come down at all. Let's see here you're right it's it's an expense issue. It that would prevent it does it theoretically if it was the same price as Steele I think all the vehicles will be made out of carbon by. Yeah I'm looking at carbon fibers in terms of the cost and a mom looking at right here just to see where it actually comes from. The biggest chunk. Appears to be. Well I can't tell this is. Really heady stuff I can't tell what's going on here at a human skin it's a lady I can't tell what the text going on here any I need. It's an orderly so it so it lingering near New Jersey animal. The pits in the carbon takes around curry is it's made out of human skin. And that. It's not really know it's it's it's now we've really just making that you know adult you are. I don't want you to anyone mislead the body. Course from five awaits carbon fiber Ross no it doesn't doesn't have any medals. Does not frost. We'll learn more about it you'll learn more about carbon fiber because GM's start making trucks are. Up next we'll be joined by trip nickel the future of health care. Could be you'll watch why well we'll talk about that in a lot more when we return to the financial exchange Ian. Barry Armstrong. Chunks on breaking business news every day right here on the financial exchange radio network. Hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you'd understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you plan accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now at 803934001. And asked for my brand new free guide called key numbers for 2018 it's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffered two securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. And he spent the last thirty or forty years building your financial planning business he worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every -- about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition we are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and of offices throughout the region making it easy and convenient to set up meetings if your interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to secure America incorporated member and SIPC and advisory service as -- securities America advisors incorporated -- -- represented their arms or advisor 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'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 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 is 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 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 its leader bank dot com leader bank a step ahead. The problems can become disaster support of the adult children has creditor issues org goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides and articles that you worked a lifetime accumulating well now you should spend a few hours making sure it stays in your family though right way. Call 866845699. Or downloaded right now and legal exchange showed dot com. To vote on our daily poll question. As financial extreme show dot com while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. How could you watch help you win monitoring your health care I'm thinking about things like blood sugar levels high blood pressure. Heart rate well we're joined by triple nickel from the Wall Street Journal to talk about Apple's first medical study. And would it signals as a relates to broader health ambitions trip welcomed at the show. How are researchers and apple planning to use mobile devices in connection with health care. Couple last week. Introduced and you. App ended the bill called the apple arts. And what it did was developed and put an algorithm designed to. In combination with the Abu watched the active there irregular rhythm. And and doing we and I can be kind of a way to identify strokes when it happened and and other I report. So let me just so I understand it. I don't have and I watch. So I put the the watch on. And now is it the the physical watch itself or is it the band that goes around your wrist that's monitoring their heart rate. There's there's this since there. System on the back a bit actually watched. And if you. Electing a defeat somebody with the Warren didn't lighting up on each able to be looking edit he can actually be. Big green LE Eli quick bottom of the large. What they unity and out light. The system really really. That it ended into the wrist band can kind of track I can essentially track what are. And and that's how they determine our. So it measures your heart rate just by wearing the watch you don't have to count it in and multiply it would it would about things like sugar does it can monitor. Your blood sugar levels. This country today they haven't been able. Determine how to use or do you glucose monitor blood sugar levels what I watch. And then it will if they can measure your heart rate and they measure your blood pressure with this device. I'm not at this point. Really right now or operated the army cult and a better man and a lot of the use of the apple watcher Israel later on that. It can be some basic calculations based on year height and weight in terms of calories burned doses you know you see when you. Hop on a treadmill and I'd I'd I'd wait. And again he's an indication that are important the work out has done pretty much all right calorie our perspective. Would've. The dizzy dead detect your sleep I used to have a fit it. And it would tell me how many hours I slept and if I was nicely it was in erupted as you watched that you know. At this center. The apple watch aren't really Newt and does bleed and become Earl fleet tracking mechanism. One out. Wanted to spend that it falls short on Netanyahu some help researchers. Do you believe increasingly weak almost. A lot more about our health and then we realized. And so apple earlier this year ought to comical that it that actually makes day. Kind of like Latin monitored it there underneath sheep and presumably wouldn't feel I'm not used it or try to. That does is we tracked. It's I think this is like the tip of the iceberg that was an trip in terms of how. Devices are gonna help us with the monitoring of our health in the maintenance of our health going forward. In the eyes of many poultry researchers that the case. You gotta remember the Big Apple want to introduce. It he'd. It's arguably one of the most sophisticated. Be. Wearable devices out there are that you see in other wearable calm now armed. It. Samsung and others that are that are comparable and help researchers and now gravitating to that they're using it. Just the estate can be helpful and other units for example. There's gentlemen doing the idea out of Johns Hopkins on. The potential for the apple watched you indicate that an epileptic seizure might be on the way or someone with epilepsy. And notified personally by moderate and lower grade. Let them know that it seat of my becoming a more. That day you know if they were to lose just you know you know they'd at least be aware of and make you probably notify their doctor right. Nobody doctor caregiver family. A lot of city and that's what is exciting. Right now. Would how many watches they sold. It sold about thirty million want to introduce. It in with you. Quickly made in the largest seller based date in the world even larger than. Then and any of Swiss watch bankers. And that being said you know and Cameron and the company that old habit to have like a billion and I've. And out there in the marketplace. Droll speaking right to drop in the pocket it and yet the question apple or more of these and a large concert bet that there are. You know it's fascinating and I think this is gonna play. Errol if it's an apple device but I think. Devices are gonna play a major part of monitoring in maintaining our health and diet going forward. Clearly not that a lot of what began as agent right now on out here and thank you very much triple appreciate your time. There is a much Utah. Trip nickel Wall Street Journal I just invasion. A fairly wide band the the the week of may be mighty you know call currently sure rate them out to tuna cop to something like that. And then and that device would measure you know how many hours did you sleep. What is your blood sugar level butchers cute right if your if we have orders jumping up and down yup that's very bad offering your your organs are you know what I have for breakfast from that reminds me of on the outcome toast Babylon in our area. Tucker and hire all new guys now they Goldman and I did a real last week man we're every day. At an audited every dale I don't we Tucker needed to get her out yet won a prize you're out here you're like as we're we're recognizing it the old way health conscious. It would help with your cholesterol. Her Newt it gives fibers. But imagine you have this base and I'll give you five to does how much you sleep it tells you your heart rate is. I mean I think this is gonna be there and and I don't know that it would be an apple device that. They have reassigned literally hundreds of engineers to this project. The guys lead the next step beyond this is and where it's creepy is when all the sons on a watch for the just pop chip inside the incentive gamers can moderately just us. It is still tell us time I watched it. Yes I just like you like to thank you can make a call for your iPhone projects to the problem with the iPhone now is it's very cumbersome. If you talk to somebody who owns one of the thirty million of them. They're thick have you seen it that they're I've seen him only in the stores haven't tried one on or anything like that the they're pretty and comfortable just doesn't interest me right now. But I think there's certainly potential the health monitoring. Is it would be fascinating. The other problem that we have with the iPhone yet to charge so much greater Yani a burn. Bertuzzi matter quick. Bitcoin update just as we kick it away from this yes the biggest US exchange which is coin base which is based on the G Dax exchange. Is experiencing a large service outage at the moment real so what's detainee get a price and I I can't I can't pull any pricing or any depth or anything like that and and this is part of the problem also was at the infrastructure just isn't good enough and a lot of these cases is that like a traffic situation like overload yet they got they got wiped out by too much traffic. Oh man so this might go up close to twenty and I who ate it or if people get nervous had taken my money organic and I went away exactly joking Indies Captain Hook it back up. Where it 19124. G Dax right now. Would mile last night it was like 1415 that like this is insane at this but it it was only 100000. It's good but is it this is the very definition of ball we just went from nineteen what I see 95 or something nauert 185. You're trading 5% away. In five seconds. Meanwhile thousands say no thanks meet meanwhile the Dow Jones Industrial Average is up 41 points it's very job. The financial exchange is alive on FaceBook so make sure to like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange 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 buyer gold locally we just make sense of leader banker called 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 bank. A step ahead hi this is very Armstrong and if you're a regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you'd understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you plan accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now at 803934. Zeros you're one and asked for my brand new free guide called key numbers for 2018. It's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffer through securities America incorporated member camera SIPC advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do. Every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI UID and we have superior service capabilities we work with clients in all six New England states and -- throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security suffered securities America incorporated member and as a BC and advisory service is -- securities America advisors incorporated Barry arms are represented on an advisory group the securities America companies are. Unaffiliated 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 a zero liter banks all mine rent collection tool zero automatically deducts tendons went and deposited into your account visit WWW dogs he ran dot net to learn more we see rent your payments breach unit to receive regularly on the same day every month tenants pay nothing in the first six months are pretty raw landlords visit WWW -- Z -- dot net to learn more or call 7816 or 18691. Everybody it's very Armstrong and I'm joined by estate planning attorney Todd what's key from the law firm Cushing and dole and and we're talking about. Gifting assets can you explain Todd the differences. Between gifting assets away from an IRS perspective. Vs gifting assets away from Medicaid. Perspective this is a great question because two things one the amount you can give away for an IRS purposes is 141000. Today and com 2018 the news is it's gone up to 151000. Seems to go up about every three or four years yeah it's got to make up by a thousand short eagle eyes so. There will be 151000. You can give away and what that means from an IRS perspective is that you. Do not need to file a gift tax return and you do not need to pay any gift taxes and you will not use up any of your gift tax exclusion. It is an out right freebie. 151000. Dollars to. Anybody you want to give it to do I have to do one later as the recipient that's a question out and yesterday you know. Mom gives their son. 101000 dollars and then that subtle call me settlement on gave me -- 101000 dollars to have to declare that anywhere from you know absolutely nothing for the recipient and most importantly nothing for the gipper. However the differences for Medicaid purposes. It will be gate is qualifying transfer. It doesn't matter that it's not taxable for the IRS if you think you can give away 151000 dollars and protect it from the nursing home without creating a five year waiting period. You are incorrect sorry folks it's important to learn how to properly gift you're assets you don't run afoul of the Internal Revenue Service or Medicaid. Call Cushing handle an ID 668485699. Or download the guide right now at legal exchange showed dot com that's. Legal exchange showed dot com or if you wanna call you can do so by dialing 866. 8485699. Like us on FaceBook and follow us on Twitter ax TSB show you. Breaking business news is always first right here on the financial exchange radio network. Welcome to the bitcoin show we talk about here is fickle at that point this point at that point it toward it thirty forty. Dozens can we circle back talkback crypto kiddies again. For the way. Crypto kiddies and how this is how you know that you are reaching bubble status all so crypto keys goes you probably remember back in the late 1990s the BBB span where it was taken by Tony the hurdler. You know Harry the horse and you know comes with a little tag on it but don't take the tag off because then it loses its value. So crypto kiddies or a virtual hat. That are powered by one of these crypto currencies. And backed by it is well so it is a great asset backed by another fake asset that people Puerto million dollars in two yesterday. This is how you know you're getting to the end of the road when people are buying big cats using fake currencies. He knew even get a quote now on a suit me the coin basics Jane's Jeep Dax is now down in and prior to going down the price was moving as much as 5% a minute and this. How does an exchange down too much volume to meet people trying to buy and sell the and at the servers to maintain to keep up and this is getting to the point now where when you start seeing this and all of a sudden it's tea put my money but I can't get it out. This is where people start to panic potentially. Anne and Mike criticism of the central banks and regulators. Would be. Why in the hell did you do something it just you know it's gonna happen game at the end of the day when people start losing money you're gonna have the regulators come in and say. Well worded to a blue route to assemble blue ribbon panel and investigate this what to do something before it becomes a total bottom line it. At smaller levels. It it wasn't a problem did it wasn't big enough to really draw their attention when bitcoin was trading at you know hundred dollars and him in it was worth being note in total 160 million dollars. Not abated early front who will second her. You know 160 million dollars it's like OK if you were dumb enough to get in that early and you know or in this case Smart enough likeness but it's. But they say odds going up on gonna be able to retire soon and they don't understand the money's at risk the careful I'm not saying don't invest in it but I'm saying be careful any money that you put in there has to be the same money that you would feel comfortable. Go down a fox which he checks not willing to say don't invest and I am. I'm old enough and dumb enough to just say idea. You don't understand this is. I I've been studying this. G Dax is backed up only am with cheaper price in a span of two minutes went from 191516775. Panic senator. 15% losses came back up and still. Maddon like this again be careful I don't know how you trade this market. It's it's you don't it's moving too quickly on the professional and I don't treat it's moving too quickly to be able to trade. Speaking of moving quickly yesterday we reported that Disney was buying box. We may have jumped the gun turns out there's another bidder in the game and that would be Comcast. Comcast to him it makes sense given the fact they acquired NBC universal's they can slot right in there with that content arm. You know it's it's it's something where I could see of a pretty strong competition coming out since fox has been pretty upfront that hey we don't want or you'd be. Assets anymore and and I I still think Disney has the inside track is it kind of makes sense in that Murdoch James Murdoch. Could replace tiger. And McEnroe well I actually larger hole and 8666. He should be retired. The difference in it is a bit different sixty sixes Ole purse Il. You might get the most Warren Buffett's like 87 right in Lebanese if he's an ambassador you know he he doesn't he doesn't have the same pressures that. A Disney CEO yeah I mean you want you want someone who has enough experience that they know what to do but who's you know got the energy still generally your best CEOs are typically in their forties and fifties and I'm 66 I'm going to be chairman of the board and I'll go to board meetings in all kiss babies and things like that but I'm not. Round and quickly Jeff Bezos is fifty through. So he's probably got seven more years where he can really keep the pedal to the. It's amazing you look at that so he started Amazon and what 96 I think and somewhere like that he started that company and uses early thirties broke to death he had not yet. He started on win it pretty much said. If you've ever read quotes from about he said look I started just as I heard about this thing called the Internet and I wanted to be part of it. I just know what I was doing but you know I said hey like there's got to be a way to make money office in 94 when he started aged 31. Good for him good forum they Cushing and dole is giving away a guide during the month of December it's about gifting. Now you know earlier I was getting the guys about you know buying gold coins and then making that as a gift to their parents we use of character use a grandparent. That are about you but I've got two granddaughters and I'm probably gonna make gift to their 529 plan that your. That's just kind of some opened up a lot of grandparents do the innate gifts. Well you might be taken yet but they're making gift of some stock that maybe you bought Amazon's stock fifteen years ago and sent to give that to migrant dollars. Before you do that. I would encourage you to read Cushing in Goldman's guys why. With or ramifications. Are Medicaid ramifications or state tax ramifications are income tax ramifications. When you make a gift it's not just a simple written a check in his eurobond. Anyway if you'd like to copy of their guide for the month of December all of a gift. State tax ramifications. Income tax ramifications and Medicaid ramifications of making gift. Here's the phone number you wanna rate down. 8668485699. Now. If you want it right now if you don't wanna wait for the mailman to bring the por mailman has got a broken back now as he's worked so hard. When he just go to their website legal exchange show dot com that's legal exchange showed dot com. In order to receive the guide to gifting assets legal exchange showed dot com so turns out hacking. Turkish and school to be hacker. Aria casino that's legal did they offer that are Roger Williams packing one of one I've lived added judges acting one on now. Is it simple we we we reported it's right next to theft 102 a big two weeks ago. We reported that Hoover had paid a hacker under green right yeah turns out it was a twenty year old dude from Florida. To some twenty year old hanging out in Florida yeah I'm just gonna hack into overs database could scary that a twenty Euro could pack and who are well. Here's what's it yep first of all a little bit scary that he was able to. Second. Lake in this what I said originally. You trust a twenty year old Blake to just destroy this information and not do it again while in lead and close watch in the store when this deal was me. They who they they've they fired the chief by a security officer why that happened under his watch but my question would that person reports at Travis colan. Radar traps collect did Travis clinic know about that I was gonna ask ya negate date would would he have known. Like I mean if it was my company and somebody was trying to extort me for a 100000 bucks. I would know I would know the answer I write I I would know that and a protocol if it's. This it just it. The whole think stinks all the way up and it just it stinks all the way up in that company and and look Derek has a shot he again is he's coming into this he's not at fault for this that happen he's going disclosed this actually. But there's got a whole heap of problems to cleanup of that company culture because. It either of these fine it just stinks all the way up and right now he's he's made major changes he either they're gonna be for me I I I still believe. I like Darrell lot I acts that set I thought he was a great person for this job. But this company stinks a lot more than I thought it did. Well TB. They did styles. You know innovation when your this innovative use you you you walk up to that line. And Hoover may have crossed that line several times and I did day I acknowledge it but it I still think you need to recognize. The innovative technology this a company less than ten years old this is this is a tremendous. Innovation now I know there's a lot of you who hate this in action right has your taxi driver your level driver in your wages are down your sand. Perry it may be innovative but it's really hurt me negatively. I still will give them and in my big thing is what they have that's proprietary. Because if all of a sudden if GM comes and says hey we've got driver was technology need to just take one of these cars a third of the cost and it's there that cost. It like they don't have any you know it's not like they are the oil and mapping software they're the only ones who can you know they got in touch on a little bigger customer list. What's good companies have customer Louis series you're rest tomorrow we're all right if if all of the sudden when I landed the airport. If I can just go to a GM. And ordered Google app get a real robot to pick me up and it cost me. It would do we say 2525 to 30% of the cost. Eight is a lot less to sit there is an okay for me to get homestead it being seventy dollars now it's fifteen I'd jump in the car all day long tonight as I trust unlike many of you. I trust computers. More than I trust humans. Humans make more errors we do than you than computers we do in people like to admit that. But the they do that's right have automated check when you good weather calls humans we make the stakes. The number of homeless people rises on American streets. As particularly on the West Coast first increasing its first increase since 2010 in and according to the annual annual report presented to congress on Wednesday. The US Department of Housing and Urban Development data shows the homeless population. Rose to 553742. People. My first question is how did they know that downed the person like it's kind of hard to take a senses. Of the homeless. But what this does do it tracks number of people sleeping in shelters and in street so it at least giving you a pretty old testament. And it is bigger this is related to drugs be big part of the other insurance. Odeo is due to the opium crisis yes. Absolutely I'd be surprised if it wasn't for it out drugs and any scenario you know people. Is you see what happens to people in those scenarios where there and evacuate the sentinel. The helicopter and Tucker get down as the garage here for something as well. Knew we should break and come back that do can tournament knowing. I wanted to talk about tendered. We should definitely pretend that Tinder is coming up actually going to be talked about food trucks as well that's all it will be back from Tiffany to exchange. The financial exchanges lied on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Days as the financial exchange radio network if you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rant collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduced local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology to Obama called this he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you to understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you plan accordingly and alleviate a lot of unwanted and unnecessary stress call my office rate now at 803934001. And ask for my brand new free guide called key numbers for 2018. It's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffered two securities America incorporated member camera SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the -- of a professional familiar with the laws in your state if you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net many of you listening to the legal exchange know that Todd lets you spent his career helping people just like you with their state planning needs a common theme among his clients is the question of legacy claiming. We'll leave our children in the best possible shape but gifting our assets be at home or vacation property and creating huge capital gains tax problem that the kids used to sell the home. The problems can become disaster support of the adult children has creditor issues or goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides and articles that you worked a lifetime accumulating well now you should spend a few hours making sure it stays in your family though right way. Call 866845699. Or downloaded right now and legal exchange showed dot com. Security suffered two securities America team members finreg SIPC. Advisory services arbiters securities America advisors Gerry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. They say video pads ten pounds. But don't tell Barry in charge in the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. This segment of the financial exchanges brought to you by the leader bank if you were looking to diversify your portfolio. Precious metals are Smart investment gold and silver bullion coins are now available. At all leader bank locations or call 877. 6917900. Or log on to leader bank dot com for more information member FDIC. Chris Cornell us from wall the Wall Street Journal joins us now you talk about. What it takes to run eighth boom truck Chris thanks for coming on those. Chris is as easy and glamorous as everyone thinks it is. Exactly just that it didn't leave you that you think it's just like in the living. Jesse just like the movie Shep you just open up a food truck people come over and all of a sudden you're in business. Eight is can go anywhere in the country accept it. What's let's. What's the toughest part actually mean you you interviewed a number of of food truck owners what kind of powers to they put in first of all. And it's very similar to what you that your competitors but anybody who's. And signed restaurant tour which is you know if it is an open you're there and it's it's not open you're there. And the there's an Epoch times Percy very meaning he didn't talk to security gate and not then depending on the season and he's. You know baking mixes and developing recipes and yes certain food okay. Looking at the you know the hours that you work is there are substantial profit that a lot of these food trucks are able to generate. You know. Depended on what you're doing and it's just you know value the body and indeed if they can get. You know 12% Italy 81210%. They're feeling pretty good. And you know. Mr. Beebe he ran. Three trucks to hot dog cart and he brings home about 40000 dollars a year. Looking at the the food truck business it also seems that. You know you've got to move that thing around to where the people aren't a lot of cases if if their big events and things like that you've got to be able to travel around so also your factoring in okay have got to you know take my age yet gas money in order to get where I'm going and and the upkeep of that truck is well. Typical Greg got released and I did not expect to hear this and I think this is what I've told a lot of would be. After the truck owners don't take into account. Every city every county and certainly every state has different regulations. For the attract so. If you are here today you know if you are working and yeah anti King County there's a set of regulations. But that's sitting in that county but if you've covered call writing forward. Eastern Washington community unity just go to different carrier different cities there's another. That an expectation that regulations there which he can make yourself aware of from. From. Business licenses and different in different forms of regulation you know go to work. And and backing get. Expensive and to some degree but I'm consistently you know yeah that's actually said you know to me you know it's time night stay in making sure that they have their right in here and for every event that I'm going to everybody is different because insurance regulations vs when he owned a restaurant but. The one turning one city's once since expecting. And into working at the the cost. They add up pretty quickly in the margins just as you'd expect on a restaurant they're not that fat in a lot of cases. No they're not and pick it up really quick to note if you're an idiot if you're not ordering correctly. And if you're. You know if you're not being as efficient as possible for example this guy goes back into it said. He doesn't have a lot most of his increased delivered because if he doesn't think leopard himself he didn't say 15% on and on. Osu just even something like that trying to get costs down news you guys like this have to be able to you know kind of look around. Do we the growth of food trucks seems like they're everywhere now. How are they growing act quickly if it's so hard to run. It's. You know compared to a restaurant. You don't get it looks certain looks somewhat easier doesn't it and you know. Yeah that you're just. It's a good question about whether president you know the market's going to do that people are more interested in buying. The guy out of has attracted may work. I've ten years ago and it's kind of amazing to reconsider that as an assistant who already ten to twelve dollars the government about them. Very true. Chris we appreciate the time thanks for joining us and that's Chris Cornell us from the Wall Street Journal talked about the food truck race I was in old lyme Connecticut. And I got a pulled pork sandwich any good from the food truck it was he best pull. Pork sandwich I've ever had no we have taken down South Carolina you know well let go that may be true I mean I've had some of the best food I've I've had from fruit trucks and I used to tunnel doing a lot of great things well 75 grim when I was in turning in New York there is this grateful awful truck that I used to go to almost every day for launch it was just phenomena. Not a deal it was a lot better before they started regulating. Because the yeah I had more of them talker. And in there was more competition now. To his pointed to the interviews point eight you to be in the business it's a low margin business these guys work like dogs in any Nolan. Yeah we're more as a part like as a canceling booze. Yeah had a stroke if they get so Boozer weed they make lots of got a killer food truck deal him him telling. And I'm gonna sell some or two now on yourself to someone. Thanks for bring and I wanna it's OK guys play nice guy okay I really just waiting I went to a wedding. And the wedding was catered food dress that a couple times that was Agha and Ed you know it was as Mexican food. And it was fantastic we've tacos it was damp and and I went back for thirds. But she did I those back for seconds video boards they have to be a. And when they don't I don't really bright little back for third you know that oatmeal for breakfast you can do whatever you wanna have to write cancels that out yeah yeah price of the Cohen I'll give the Dow so it's up 81 point point base the largest US exchange is reporting major outages throughout the US this can you sell. And you know if you can get in Buick your account you might be able to sell about bind I wanted to buy some kind of hard to say it's an open new accounts are in right now you can't do. Anything at this. Yeah writes is this the beginning of the bitcoin crash actually not a moral on the financial exchange radio.