Full Show 3-13-18

01:51:29

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This is the financial exchange with the very Armstrong and chunks are now. You're exclusive look at business and financial news affecting your day your city your world stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. Happy to stage New England we're seen reports of power outages already throughout the New England region will keep you apprised as to where those are occurring. Rex Tillerson is out as secretary of state he was fired on Friday. But it didn't go public until. I guess this morning. And then. We've got a story regarding the lawsuit that was filed by the Massachusetts nurses association thinking it's Brigham and win. Woman's hospital with talk to you about that. Hi everybody it's Berry and Mike what you hear on a Tuesday and hold count the snow is coming down and power outages everywhere you look. There sure are nabbed at the map print from me of course that you've got to carriage you probably know listening tour show doesn't look like it's quite as bad as last week's nor'easter a little bit lighter snow out there but nonetheless lots of customers without power and really throughout I think you know. The heaviest stuff is coming down southeast Massachusetts. But I think the longest snow is really going to be impacting our northern neighbors New Hampshire. And I think it's gonna stick to just keeps on right through Wednesday afternoon. A lot of snow lot of snow and this year's RS. Good for the ski resorts and bad for businesses because there close and down in or not restaurants are gonna do much business tonight most businesses. Our close up guessing when you drove in there wasn't much traffic not a whole lot. They have Rex Tillerson secretary of state is out. He was fired according to Washington Post on Friday. And he'll be replaced by CIA chief Mike Pompeo. This a surprise to some not to me today he wasn't you know last year he referred to the president as an idiot. In an open meeting he never denied that yeah that is so I think it is an expletive idiot and two bit more harsh than that and Gary I mean we've been. Hearing rumors that this is gonna happen for awhile I went on for so long though is that stern wondered media wouldn't but it looks like you just got delayed a little bit then pump payers and markets don't seem to mind. They'll be in the recent Pompeo and cold. Waited a year is scarce and the you know how they can sell their stock without capital gains tax yeah. Goldman Sachs and ExxonMobil into week twelve months they have to be in that office for twelve months from the time they were supported that so you. You can't. If if you leave in eleven months and fifteen days you don't get the tax free bond. I stood saying your stock so. It was the there's a lot of motivation for both Rex and Gary to stay on for that twelve month workers' time. And that there but it did and you know right I think both will be remembered as having done admirable jobs in the capacities. That there it you know president trumped this morning. Did again confirm that Larry Kudlow has a strong chance to take the job of Gary Cole yeah that pitcher reached a yup the the they've known each other a long time they disagree on some issues but they agree on others and it is I hope it is Larry Page knowing Larry for a long time Q do good job capacity in these other than when you show anymore. Well we don't know that. Could it could be a monthly voting littering are never know you never know. Aaron the Larry Larry tree you know very sick guy that remembers this for sentinel and TV ticker most of c'mon aren't I work. What does talk about this lawsuit that was filed by the Massachusetts nurses association on behalf of the nurses. At Brigham and Women's Hospital yet so dark. Now the beef dating the nurses. Did not like. Being required. Is part of their employment agreement. With Brigham and women's to get a push. And you know eight there was us 2%. That either didn't get one because they're defiant or they have religious there in your religious reasons for not and that's you know if you if religious reason that's that's fine. On board with the hospital. Sit here today I think this you know bears understandings. But the hospital said this. You don't have to get a flu shot but you must Wear a mask if you're not gonna Wear shocked. And the nurses association sued over that language and act I in my opinion. I think the nurses rattle one's. I do too I think it was a little bit further than that there it wasn't just that tad they have to Wear masks so you can still be exempt from getting your flu shot if you have legitimate medical or religious reasons him and you must still Wear that face mask. What the employees were fighting about we. Was that they do not want it the flu shot at all it was in the package add to Wear the face mask I don't believe news if you didn't have that medical or religious exemption. You have to have the flu shot. Ends. You know what I upside and downside with the hospital still on this one. If you're running across the globe Michael's reporting workers who do not get the vaccine must Wear face masks when patients yes that's true that's fine. That's as a with a lawsuit is of the lawsuit was over whether or not people without those medical or religious exemptions. Have to get the shot that was the lawsuit over its. The. Judge came on the side of the nurses Aristide on the side hospital which you know you know what I don't go to green ones that weapons of film that nurses earn vaccinated in her. I'm with the employer on this one. Yeah I think I think it made the right call but there are the there's a large segment of the population that disagrees. With the with flu shots if you eat the news Tucker selflessness and our studio they gaze never had no he's getting. Make an assault sick that's fine don't go work I would start making you Wear a mask talker that that Devin amount you're not sick pattern. Don't be any even the nurses that are sick and have to Wear a mask so I think it John corporate policies you don't get a flu shot you have to Wear a mask. An amount that's gonna sound on the Mike but if we can work something out. It go pretty text us or text numbers 63566. Let us know how you're surviving this winter storm 63566. Sorry this next topic. Has to do with helping you or adult child. With the down payment for a house. And the question is should do is is that wise is it Smart view. As you know typically injured with some and he probably ain't your fifties maybe in your sixties. And you say gee you know my son just got married my daughter just got married with their gonna get married no one helped them the down payment is it a good idea. Let's talk about it it's also going to be our poll question day go to our website financial exchange showed dot com in order to participate. In the Paul Mike guesses Tucker you know Michael probably think. Parents helping their kids with that don't pay as darned good. I think it's pretty tough to argue that could ever be a good financial decision to help my jacket with a down payment now whether or not it makes you feel. A lot better about your family about yourself personally is different question. And certainly some people earn a better position to be able to do this then others. By day you know very difficult to argue that yes helping out your son or family member daughter with a down payment on house is a really great investment decisions for you and generally speaking you're not making announcements this person that's you know whether or not you can. Do without completely ruining your retirement. You know one thing it. That I done in the past was. I helped by daughter with her down payment but I also have the pieces the equity in the property should. So these she pays the mortgage she pays the the maintenance she you know improves the property should put an air conditioning musica. But I have a piece of the act equities so I have a down payment she's not paying it back. Until she sells the place which would be we anticipate that would be within five to ten years. She sells it I get my money back plus again portion of the profits that we can make it. Perhaps a palatable investment if the market continues to rise. True damning a Gagnon there's certain circumstances for folks that can afford to do so where it's not the worst idea. The problems that I see more frequently are people taking loans from their 401 k.s or taking money out of retirement accounts in order to fund this. And if Europe you know if you're a middle income earner that's just. You know it's not great financial advice if you're if you're putting your own retirement at risk in order to do this for a new that's that's the real issue here and I bad you know if you ask your kids they would much rather the focus on your own retirement and not pay for their down payment round and haven't moved in with them a few years down the road. Well I'll tell you away it Tucker if you want to strong arm your parents for loans. Oh yes did you say hey mom and dad. I don't know if you can afford to help the down payment or not but if you don't like to move back in with you and it. Save money effectively that is that I can assure you they'll come up with the money Tucker think it would be more than happy to write the check of any amount. Just to ensure that you deal back I thought you actually knew this buried but I moved in with the in laws. To hit a dead. So you're a strategy to non work there for a while hopes prize and I would check of beauty I I would I I. I live there. Is it any Mike it's threaten to move back in it's just it's extortion on their part. Very effectiveness and now washing dishes and and now. But it. Not what is basically they're just thrilled to have you around with the yeah. Our website address if you wanna participate in that poll should you help your adult child with a down payment for a house. As financial exchange showed dot com right now 42 point 8% of audience says yes you should. You know a lot of people think you shouldn't be whose you wore fostering. An environment. Then cut eerie you're your your spoiling. Day in and there's something to raise you it's always their mailing your kids. That's not this. Yep cnet's. In numerous occasions where. Just creates issued. They coming up for a talk about car prices. As a result of this you and aluminum tariffs. How much will the cost of an automobile increased the Wall Street Journal has report on we'll talk about it when we return to the funny to exchange. Like us on FaceBook and follow us on Twitter that's TF we show you. Breaking business news is always first right here on the financial exchange radio network. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change the station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your state taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time we called Thai blood ski time as a partner with the law firm of Cushing in Dolan and an expert an elder law they'll walk you through the process step by steps of your trust to set up properly and efficiently now they're several kind of trust to consider but reputable trusts are extremely popular to establish the kinds of protections were talking about Anton has written a new note this month to help you understand all the particulars the operations guide to a remarkable trusts into tears are free Michael 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance co right now and did your guide at 8668485699. That's 8668485699. Perry or chart here with a message for all business owners that are listening to me right now how do like to save up to 90%. On your corporate taxes is so bent consider relocating your business to the US Virgin Islands they've got an incredible tax incentive program that numerous businesses have already taken advantage listen to Wayne Bakes executive director of the EDA. Anybody that's involved in the financial markets would it be hedge fund managing managing consulting in the they've done very what I should mean world and entities that are in designated services we have several cost senators are we have several centers are due back office operations and and then we do high value manufacturing where can do manufacturing and and do value added it has large margins and we have entities that do what the boys we've had medical device is a variety of those type of businesses have done very very well. This program is fully sanctioned by the federal government and it will lie your business to expand and grow learn more by visiting the ED a US. The IE DA dot pork. Hi everybody it's very Armstrong and Jake two Lian we're talking about a program called Z rent. Now this is specifically. Designed for those of you who wore landlords and used to collector checks with paper checks are gosh maybe still do. Will zero rent a allows you to collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords. Absolutely vary so we we develops he rained two out of me the whole race in house because right now. You know with the landlord when you're getting rain checks. It's low it's unpredictable. You're missing on blow the great. 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Well the president has imposed tariffs on steel and a movement that's being imported now there's some exemptions from for countries like Canada and Mexico and there may be more exemptions coming forward. But it is going to increase the cost of your next automobile assuming you buy new. And even used cars it'll increase the cost of used cars how much is an increase the cost. Yeah you know that's the big question right we had those reports. You know for folks and all of the you know the increased took him Beers are we going to be a penny or can of soup is going to be a penny. But you know cars. Obviously use a lot more steel and aluminum two thirds. Of those domestic cars are made of either steel or lunar combinations of the estimates if if these terror stay in place and they're not further exempted. You can look condition in on an average of an additional 300 dollars per vehicle. Just in the cost of the steel aluminum. It's a lot. A lot yeah Pena age you know that's the cost of some you know pretty expensive options now you know if you take a look at the overall cost of a car you're only looking at about a 1% increase. But you know these are the over reaching effects now. My point would be OK we've exempted Max going exempting Canada. I don't know what the likelihood is that the stays in here without further exemptions what are your what are your if you're gambling and what would you be bad. And all he I. I think you know when you look at our European deal I was looking at the European car deal for instance right. In the European Union imposes a 10% duty. On cars and trucks from the United States and you write so we want a soul. Machete. In in France there's 10% duty on it where is the US only applies to two and a half percent. Duty line Mercedes so how is that they really when you look at that on the surface or even when you scratched deep. Say well that's not fair they they're charged in just 10% Morgan charged. We're charging them only two and a half percent yet so I think. When you look at its end and you know it. I I know these are all tariffs that are part of a much larger. Deal late this technology. In issues involved. But the fact of the matter is. I mean. A lot of German cars and it's what used to be Swedish cars are manufactured in the United States. I and then their ship to other parts of the world. I think one of the things that you have to look at in what people have to worry about news. If if you're working for one of those manufacturer maybe it's a Volkswagen manufacturer in Tennessee here Mercedes manufacturers South Carolina. I think there's a strong likelihood that those European car manufactures are gonna say we're gonna shut down this plan because we don't feel we're being treated for. Yeah that's the that's we're you know. Trade wars. You know our activities sample you you're you're playing hockey. And and you give somebody a dirty hit but Enders you know you slash. We have to use that they're gonna slash back at they're gonna be they're gonna take you be there if you you're gonna get. Not to take it lying down. They're not an and I think. You know I think we're already hearing whispers from global Mercedes-Benz. BMW. In Volkswagen. That the government's main town eight but those are companies. Yep there they've got big manufacturing and parts of the country and they could look at moving those things that I got to kind of in my play devil's advocate for image here you talked about. You know China cheating the system you talk about the European prospering 10%. Duties on US vehicles coming into the European Union. You have to take a look at the US you know auto. Industry and think about history for a minute here right so let's go back to 2009 when those are three large auto manufacturers were on the verge of going bit out of business. What happen the United States government came in and propped up our auto industry. So when you hate it when you hear about the US complaining about China's you know government stepping in to industries and you know subsidize them. You got to remember too is the the United States hands are completely clean on this one. To subsidize the auto maker is dead we differ but five years before they're completely out of the the auto makers. You know that night it's it's a factor just date it's interesting to watch. You know and the beast trade wars. You know in the old days ceased to turn into shooting worse she can't have a shooting war anymore because everybody who destroyed two. But when it ends up happening is trade worse accelerate rate I can assure you Germany will not sit back. Quietly while tariffs are imposed on German steel even though China may be to target on this. I can assure you other countries are gonna retaliate. In return for this and for countries to add to that the company's well be in they'll be forced to buy their stockholders if stockholders will insist. That there's some form of retaliation to protect shareholders. Dan and I think having works at the reason that I think there's going to be further exemptions on this is again that bin means by which we are going about these terrorists. Is a national security concern. As the reason exempted Mexico and Canada is because they are very close allies so effectively what we're saying to our other allies is. Hey you know we have national students kids security concerns about steel aluminum. And Germany. France United Kingdom. India you guys are not close enough allies for us to trust you to presets deal. That's a pretty tough argument to make too does a very long term. You know NAFTA and NATO members that we've been a long time now as well. So I don't I don't know I think there's many more exemptions here. We'll see we'll see. Four Irwin case are an especially important retirement tool given that tensions are on the decline in Social Security could be insolvent. But the year 2034. Well that's all true a recent study by go banking rates found that 42% of Americans have less than 101000 dollars socked away. Big part of the problem Michael as many workers. Millions of workers across the country do not have access to a 41 K. No they don't and this is fairly common you know area and that's worked for a smaller size company. I worked in new parts of retail they often do not have access to her time you know employer sponsored retirement plan in fact. 35%. Of private sector workers again over the age 22. Don't work for company that offers that sort of retirement plan and you know in that case what your face with his. A you have to you know obviously you open up your own retirement accounts and the only match in tribute is about 5500 dollars a year. In comparison to Reno 181000 dollars per year and a employer sponsored plan plus usually company match. Well here's the problem Michael. Bulls people are gonna save the 5500 dollars a year for the diary no baby just. They lack the discipline where is it when you're signing up for a new job that's a ticket job in your going to be the manager of the restaurant. If they say you well how much do you want deducted from pay you just check off the box 10% to 85% match or sudden. You know 15% of your 80000 dollar salary. Is socked away it's easy you know Europe to think about your stock the way about you just do it in and it's happening. If you work for companies like small landscaping company they don't have that. Retirement. Will come back we'll talk about the retirement saving just a little bit more and we'll talk about how much money the average woman. See them time that's next to. 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 only in the words chasing down only rent payments and making trips to the bank to deposit checks to take a hassle out of her day with zero leader banks all my recollection zero and automatically deducts tenant's rent and deposited into your account visit www. C Rand dot net to learn more with 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 he meant to learn more or call 7816418691. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday snow Wednesday a snow again Thursday snow seriously Friday snow Saturday more snow okay who's been Massa win my script Carol c'mon that's not do without you snow every day really. 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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 a speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program us. Fully approved by congress has been in existence for about 45 years. We have several companies that are doing that currently and we effectively reduce federal income tax because we do of north Texas somewhere we use of federal flawless with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if Europe. Business owner looking for tax breaks to talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its USD. IE DA dot or best US. VI EDA dot or. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change the station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your state taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time we called time bloods. 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 86684856. 99 if you work hard for the past twenty years and enjoy a healthy savings account you're and a solid position to enjoy it later life hi this is chuck is not a saving money for your retirement is half the battle the making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought and while most people trying not to think about what happens after they passed it's important to set up your beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designation because believe it or not they're can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory. Dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Time now for Wall Street watch a look at the market's performance so far today but I don't Berrian jug right here on the financial exchange radio network. Hey don't forget if you're tired of paying excessive corporate taxes. Would give the US VI EDA call that's their economic development authority in the same to a forty page guide that explains to you how you can reduce. Your corporate and personal taxes by 90%. The phone number is 8556223634. That's 855. 622. 3634. Mike good markets are open and despite the stormy weather looks like we're pretty good shape. Yeah they're doing our rights and that one of the big stories moving things today is about to trumpet administration blocking that Broadcom Qualcomm deal would have been the largest tech merger in history. I took administration has stepped in via. Because of national security concerns and put the kibosh on the deal. Call calmed down this morning about two dollars 44 cents close to 4%. Broadcom up this morning about 750. Nearly 3% and an Intel one of the year big competitors. Is up that close to two dollars at close to three. Half percent on the news today. You're talking earlier about. Savings in retirement plans and how the numbers are pretty dismal. The Pew Charitable Trusts found it 35% of private sector workers over the age of 22. Don't work for companies that offers a retirement plan that says a lottery ticket 35%. And the numbers were more stark for younger people pew found that 41%. Of colonials. Did not have access to an employer sponsored retirement plan while only 35% of Generation X. And 30% of boomers had to do without. Pew also found that 52%. Of millennium goals. With plans available or making contributions in contrast 80% of boomers and 75%. Generation sixers. Is that gentleman because that's your generation. Only 52% even if you have a plan only 52% are taking advantage of it. Is that because it when he served are saddled with student loans and just don't have the cash flow. And I think it's a common so when I talked. Do you did my age about this and it is a mix of stories. I honestly think it's a much bigger issues just lack of education and understanding of how these things work and I'm embarrassed to say Atlanta I would love to say that gas as a saddled with debt they just can't afford to make these payments. That's not a lot of dealers like I have forum on campus fees that out later. And it's just a bad bad attitude Rihanna especially if you're you know. Your first job right out of college okay yeah I mean I guess I kind of get that point you know you're pushing thirty years old and you're not participating your 401K plan. Especially if you haven't you have a match you're just giving up on free money. In millennial most millennial still don't own hole. Which by the way brings back to our poll question. Should you help your adult child with a down payment for house only 27%. Saying yes you should. And full 72%. Saying no you should not I would with the mindset is behind why you should not tell. Your child with the down payment I I think it makes a lot of sense to boost. And it ensures that they don't end up living in your basement but maybe. They may need a perspective is that. You know it you shouldn't be spoiling your kids and I'm not to sure that you Texas to a few of thought as to why you shouldn't. Be helping cure millennial child. With the down payment text said 63566. So far. It's just been participation on our website which is good but I would love to hear why you don't think he should help your millennial with the down payment. Here's how much money the average woman has saved for retirement rushed suffered. So the median retirement savings balance for working woman is 34000 dollars which. And is not terribly high and four we don't have that same number for for men. A few you know encouraging numbers and one cent for women and discouraging on the other. The encouraging news is that for those that earn for women earning less than 100000 dollars. The participation rate in 841 K plan is 20% higher than there male counterparts. That's good news the bad news is that in terms of balances. The average for a one game counts Furl for laments about 20000 dollars less than their partner I think a lot of that just has to do. You know wage gaps over the thirty year timer. It's not time period have really added up overtime. But again for you know for folks that are earning less than a 150 grand. You can really see that women are. Contributing more saving more and have earned more in their 401K plans and male counterparts you just don't seed you know I think about the high level high paid executives that received and SP 500 companies. How many female CEOs and other in the S&P 500. Not any nominee. City averages you know spell that story but if you take a look at you know actual workers women are saving a fair bit more than their counterparts. The thing about curses though they see the totem. Yeah they make a lot of money of these it boasts that nurses and older are. Pop that money into their 401K plans so fast as it'll play in a work until they're 65 they went out there. And 5562. Sub titles yet and I said I don't have the median numbers. So when you talk averages right yup you're gonna have the mail him mail for when it counts be larger because there's just more high super high income earners on that side. But I would be willing to bet that the median numbers and looking forward right now. Would be pretty close if not higher for women. Tucker ever the necco candies NEC CEO wafers I've never even heard of those really only an hour they're terrible but there have been like a Massachusetts. And I used to have these all the time but yet they're not very good taste. Now and are out of they've been around since 1847. They're based in Revere, Massachusetts they have 500 employees. And it sounds like Michael there ready to go out of business yeah they've got you know close to foreign workers and it's only a lot of might be laid off they can't find buyers and to Tucker just to describe this candy for you think of it like you can styrofoam something it's like game. Tons maybe there had adopted a red terms. Yet Shockey sweet candy you know. Like us Marty or something like that are now have never had to doesn't taste bad upset stomach Null is wrong and I don't don't get a flu shot doesn't need Tom's. And so go tract homes if if Beckham goes out of business coach at times you have very similar experience okay not they're gonna hope there's somebody eyeliner. Again 830. It's thousand square foot building. There a it's not looking too good from the needed buyer varies. It. They believe they're the largest employee player in Revere, Massachusetts now. So there's still time to make a 2017 hire a contribution for the tax deadline so talk about their brand new offer from leader bank to hire a 21 month CD was an annual percentage yield of two point 1%. Meet minimum balance of the thousand dollars to open the accounts and earn the APY take advantage of leader banks knew a certificate of deposit. And grow your savings today again the annual and annual percentage yield is two point 1% with a minimum thousand dollars to open the account. For more information call leader bank at 8776917900. And that's 877. 6917900. Or log on to leader bank and dot com today. Rate effective march 12 when he eighteen and subject to change without notice he's been reduced earnings in the penalty may be imposed for early withdrawal Peter bank step ahead member FDIC. I don't know if you've been following the special election in Pennsylvania or not the president was in Pennsylvania over the weekend Joseph Biden has been in Pennsylvania. Campaigning on behalf of the Democrat. I believe the races between Connerly Hammond this column is the Republican. And you might say to yourself well okay it's a special election no big deal well trump one net. That area. By twenty points and last poll I saw it's a dead heat in in in Pennsylvania. People are watching political pundits are watching that race. Because they feel Michael that meets to sets a precedent as to what we're going to see in the November mid term elections. We'll know probably tomorrow morning when we come on here who won that election. I still Mexico will win it. The I ditzy old that showed he was down by three points that. It's just hard to believe that he would lose that that seat. These mid terms coming up in November. The stock market is very curious and with good reason as to whether or not. The Republicans can hold both the senate and the house after the terms. Yeah. Today is certainly taking a look at these things if you take a look going back to the end of two point six teens to the S&P 500 was 89%. Correlated. With the can get consumer comfort index reading for Republican voters are basically followed very closely. Yeah consumer sentiment for Republican voters now it's pretty short period of time. And I I'd. I tend to really separates you know what's happening in politics with what's happening in the stock market because you know let's. Let's play at a worst case scenario for the Republicans that they lose the house of the senate. That doesn't mean that all of a sudden you know democratic legislation stark start getting through it's just gonna mean enters kind of a deadlock means no largely achieved exactly as we know legislation goes through. And say your face at the same thing race for the last six years that the obamacare and the last six years the bomb error for the stock market pretty darn good. Well one thing I would mention to you is. In a mid term election year the average S&P 500 return is 4% in the median is 1%. So usually. This year right isn't terribly you know not terribly but not a good year for stocks there's the S&P median returns probably running around 8% right. And maybe he averages running ten or 11%. So to eat it's usually. A bank your often times first term president will lose control of one of those houses rent Obama lost control. Bad is it after his first it in his first term deal. Yeah I you know I again I'd I think it's possible that it happens certainly add the Democrat is severely outspending Republican Pennsylvania race that it will continue to Seattle on these locals mid term elections later this year. Whether or not it impacts the stock market area I think you're right you know in mid term years the stock market does perform quite poorly. Whether that does so the next you know 456 years we'll see I don't I don't put a whole lot of stock in what's gone on politics to the stock market. Most of you do not think we should be helping our children no down payment of what to know why these text us. 63566. Is our text number coming up. We'll be joined by Mark Cuban. From seeking alpha. We're talk about a stock that he has on his radar screen that is next for the financial actually. Have a question for Berrian junk. Now you can text us at 63566. And take part in the show at any time to start your text through keyword battery and join our exclusive club. Days as the financial exchange radio network if you work hard for the past twenty years and enjoy a healthy savings account you're a solid position to enjoy it later life hi this is chuck is not a saving money for your retirement is half the battle but making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought then while most people trying not to think about what happens after they passed it's important to set up your beneficiaries properly to ensure you protect your wealth much firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designation because believe it or not there can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi this is very Armstrong and a speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. In your federal income tax here's Wayne bigs executive director of ED day. This is a program is fully approved by congress has been in existence about 45 years and we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech's system where we use a federal forms of the money CC territory at a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us that we cut tax rates if you're. Business owner looking for tax breaks to talk to the folks at the US BI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US. VI EDA dot pork. By this jokes ought to and I am joined today by an estate planning attorney Todd lots key from the offer of Cushing and Dolan with your financial exchange quick tip of the day and Todd we're talking about how are mobile trust's operating. A lot of people are afraid that if they transfer money into an irrevocable trust. The big give up control of their assets they have to ask permission to do anything is this a valid concern. You know it's not a valid concern but it's one that I can understand right people in general are gonna say. I heard your vote Coble trust you lose all control and in for a lot of years that's true and for different kinds of trusts that's true. Not for the kinds of trusts if you're concerned about Medicaid protection. This kind of irrevocable trust. You do not lose that kind of control at all what kinds of things can you still do in a near vote Campbell trust that you don't have to give up control so let's say you put your house. And lived there you can pay your bills you can rent it. And you can sell. And you can buying a house with the proceeds and it doesn't even restart any waiting periods it's a wonderful flexibility you can also put in your investment portfolio. And and you don't even limit. The types of investments that you could invest in just because it's inside the trust some people get concerned that their trustee may misbehaved you have the ability to change trustees if that's the case you do have the ability to change trustees and put on anybody else that you would like so. You have that kind of flexibility as well and you can even change beneficiaries. On the trust so. Folks in a concern you don't lose control when you put assets in these trust and you don't give anything away. Folks there's a brand new guide out from Cushing and dole and the details these very issues it's available by calling 8668. Horry. 5699. Its title and operations guide to the use of your mobile trusts and again that number is 8668. Foray. 5699. Or get it online at legal exchange show dot com. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you. This is the financial exchange radio network and. Taking a look now at the list of states with the highest levels of income inequality we talked about this couple times on the show and I've been with me at this list trying to find some sort of common trend buried. So if we take a look at the top five here at the this is the most income equality across the country we have New York. Connecticut Louisiana. California Florida and and Massachusetts is action number six so these are we just be clear these are states with. Back income inequality means the richest workers are making tons of money. But poor workers are not make him very much yes again going down this list we knew we had the top six there we also I've Georgia. Texas Mississippi and Illinois rounding out the top ten. On the bottom you know the as least bad income inequality word here and more quality across the board for income. You have Alaska and Utah Wyoming New Hampshire Hawaii in Nebraska. Rounding out the yeah of the Nelson Riddle up Iowa Vermont with Scott's note those all have in common. Rural agriculture agricultural. Yeah parole. Alaskan woods is agriculture and updates it today. Labor intensive. Economy that they've a lot of the people that are working in Moscow working in the energy sector he walked out of little list there. That I think his comments on here is this rumor more rural types of areas where as the top ten clearly have some of the largest. You know cities and therefore something larger companies headquartered in answer in New York obviously. Here but you look at Mississippi with Mississippi. Yeah this as a rural area then again they got nothing there at the it to use the Mississippi faint. Is the poorest and least educated state country yet Louisiana and Mississippi seem to be two of the be exceptions and I'm seeing on that top ten list in terms. It's you know states with varied large. Cities with odd jobs. High paying jobs everything else on that list IC. You know the booming cities on there is to. You know surprise that Florida is on the list because Florida with so many retirees. You would think that they would have to income inequality America's retirees are reliant Social Security there's a lot of people of Puerto. That are Lebanon. You know so the Social Security check in a modest pension or part time job program. So a little bit surprise there California I'm not surprised by the way you know with all the movie stars in you know the corporations that are headquartered out there but to see. Two what are. You know work. In an educated states on the list in Louisiana and Mississippi. That that's a surprise to Illinois being analyst doctor expressed no Massachusetts announced present Connecticut not surprising that most of these aren't any big shock but I was surprised that both Mississippi and Louisiana like you're. You know. Apple it's a new all time high in briefly climbs above 925. Billion dollar market capitals. Yeah yeah this is you know if you take a look at this this is a hundred billion dollars ahead of the second largest so that would be Google the parent company alphabet and 150 billion dollars ahead of Amazon in terms of market capitalization. I think a lot of people would be surprised to hear this right you don't think of apple are at least I don't think an apple is having the same. Growth trajectory that we've seen Adam Google and Amazon what they don't they don't sir certainly don't have that bonds these days love to have him as a as growth trajectory. They've become a values we actually are this firm clients because it fit into our model are investing model. View we we bought it because we thought it looked an expensive relative to the market. Yeah and today is certainly not the growth but they are highly profitable. Company comparison to some you know Google and Amazon are obviously you growing very very fast but they're spending a lot of money on that growth and apple hasn't had spent quite as much money my concern right apple is. You know. When are they going to have more diversification away from their current pretty much one product and you it's your iPhone. You know everything about the iPhone is driving company's profitability. And you know way everybody was thinking who's going to be the. Apple's whole product can call but definitely today right Alexa. News everybody's gotten elects. Nobody's using the Google product nobody uses the apple probably I made in the people that haven't don't like yet a price point is just what was it 350 bucks for that speaker or something like that it's twice the cost the Alexa and they are quick to the market by year three times if you wanna include the taught the thoughts 39 share box and you know they're more concentrating on the speaker not the intelligence but the speaker system. Well Tucker to your point most people are looking. And saying well. Even though the price differentials lose you know ten to one is just a better product Alexa is better in the smarty. It's smarter and people like having it around where is the apple product. Series pretty down. Comedy you guys like I think she's pretty done. They have a long way to go to catch up to Alexa annual global home or global system better I forget the name of Google a long way ago. He now who was at that spot next with that Amos on Google Google owns do loans Nast Amazon owns. Their odd rain rain doorbell company so you know the smaller companies keep just getting bought out by piece by piece. Apple hasn't seen make any of those big acquisitions and. Well the markets open on a snowy. Tuesday will give you an update as to how many people lost power threatening to leave the best nothing we can. Dow is up ninety points today NASDAQ is up three points and when we come back for a talk about what companies are doing. With all the money they're saving and corporate taxes that's our next topic on the financial exchange. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans 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 lead 776917900. 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. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday snow Wednesday snow again Thursday snow seriously Friday snow Saturday more snow okay who's been Massa quit my script Carol c'mon that's not do we value snow every day really. When you got the northeast most powerful snowmaking system just two hours from Hartford and you know you can count on great snow all season long. Mount Snow live to get there until now so get yours now at Mount Snow dot com slash save. 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If you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with probate if you're over sixty years old that are preparing for retirement now's the time we called time bloods. 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 866848569. In higher rate. From either a spouse a parent or from someone else and Mike. So little complicated sometimes people who they're going through a difficult time where someone that they know closely as passed away. In they don't know what to do with the money they're inheriting let's talk about first spouse if you inherit money. In an IRA is a spouse what do you have to do. So very simply. That's isn't the easiest version of this inherit money from a spouse. That hire ray can simply become your own airing the money can move into your own account you don't need to start taking withdrawals. Although I will point that you can start taking withdrawals if you choose to you just need to open a different type of virus or before you make any decisions you need to decide. Too I'd need the money York night wade and deferred taxation stale now if you're not a spouse US significantly fewer options as far as what you're able to do. Correct if you are not the spouse in your inheriting a money. You must open up an inherited IRA. And that means you have to start taking money out the account immediately the first year you inherit that IRA. You have to take a required minimum distribution now there's a whole different tax table associated with this or it's not as bad as they're Euro seventy Euro take BR MD. But the money does need to start coming out immediately. Folks the guide is titled understanding traditional fiery beneficiary designations it's available to add zero charge. All you have to do is call 80393. 4001. Or you can go online Armstrong advisory dot com and download it for free there again that number is 800. 393. 4001. Or you can get it on line. At Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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. Are rare shark here with a message for all business owners that are listening to me right now how do like to save up to 90%. On your corporate taxes if so then consider relocating your business to the US Virgin Islands they've got an incredible tax incentive program that numerous businesses have already taken advantage listen to Wayne Bakes executive director of the EDA. Anybody that's involved in the financial markets would it be hedge fund managing managing consulting in the they've done a very what I should mean world and entities that are designated services we have civil cost senators that we have several centers that do back office operations and and then we do high value manufacturing where can do manufacturing and and do value added it has large margins and we have entities that do what the boys we've had medical device is a variety of those type of businesses have gotten very very well. This program is fully sanctioned by the federal government and it will allow your business to expand and grow learn more by visiting the EDA at US. The IE DA dot org. Do you think they're better than one that everyone knows that that's where offering to balance the one taking. You can he added tax and wildcat mountains in the game day I'm the only thing. There's just twenty minutes apart in the number one's in the heat. Until now and once again WR downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is Barry 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 and 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 25%. Annual percentage yield this is an online product only and there's no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay 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 bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And me. This is the financial exchange with Barry Armstrong and sharks done us. You're exclusive look at business and financial news affecting your day you're sick leave your world stay in for. Depend on today to promote economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. Rex Tillerson is out as secretary of state we've got power outages to rule out New England. And very surprising. Answers and results from our poll questions hi everybody it's Berrian like with you here on east snow Tuesday and just how bad are the power. NASA amusing that power outages US and look at New England states that looks like here in Massachusetts we have a 155000. Power outages rounds of 25 K. And then dropped off from there. Next crisis Connecticut and around 2000. But Massachusetts's. As specifically. Southeastern Massachusetts Bridgewater Quincy Braintree that general area has suffered a lot of power at this point. And Tucker all reminded now we had a poll last week which pay more money for electricity not only power outages. The answer was a resounding absolutely not you know we already pay the highest electricity costs in the country up. He was 60% of people said no I would not be willing to pay you don't attitude changes though would you go without power. Ability each right Livan for the in in my little town of midfield Massachusetts we lost power last weekend for two days. Fortune I've got a generator but most of my neighbors did not and it's a hardship it to live. Electricity is just no parent no. Ayers not we had day in employee that whose parents live in northern Massachusetts. And sheer power was out there their parent is out until Saturday so I think they were at 45 days that actress and yet the most I had this season was. About. 72 hours a little south of that but still it's just it's awful. He should never happen smokers are never happy are you shouldn't be power outages the reason we have power outages because we don't maintain their current. Anyway moving on to the next topic Rex Tillerson out as secretary of state at the news and did it in the truck administration. Correct Pompeo stepping in and and news senior CIA director's going to be Jeanne. Jeanne gospel yet Jean Hassell the F first I had a woman in that job. Yeah so all of this just being announced right now. We've known for a little while better extortion or it's been speculated that Rex Tillerson may be on his way out specifically after you know rumors in butting heads and calling president trump an expletive idiots. Or not denying and he called. Idiots right at some point last year and said it seem like there's only a matter of time for this to happen. And Pompeo. Stepping it. And I'll remind you. Both Pompeo and Gary Cohn had to stay in that job in order to get the tax free sale. A fair Goldman Sachs and their excellent stock. Now that worked out better for Tillerson and it did for Gary Cohn because Tillerson is Exxon Mobil's stock didn't go up in value while he was in office. But Gary color actually lost out on the teen in Goldman Sachs stock during the last year but they're both out. And they both got tax free. Gains on the sale of those stocks must be nice. I'll leave it. We have a poll question today. Which is should you help battle your adult child with the down payment for a house. I'd very surprised by the results for the first hour. Full 21 point 4% of you say yes you it's a good idea to help out your adult child with the down payment. But 70%. He said absolutely not no way they nobody helped me perhaps maybe that's there that are ya that's aroused again. You think that's a yeah I mean he is necessary to your generation like overall today get any help in their first house. That you that you're fueling they didn't America know him might but yeah I did today and you know a lot of hugs help talker comes in the form below right so you know years your kid wants to buy a Condo. And just you know they've got some down payment. But not enough to to buy the Condo in your look at the real estate market machine lord I know these things are underpriced. He helped acted out you know date the kid might make a 300000. Dollars on the sale the content that's that's helping your kid. You know get a stake in life it's it's hard to do talking you know how hard is year you're trying to save money now the down payment and house's very hardest. Yeah I mean where he we have a plan were forking over X amount of dollars each month or savings account in place of our rents which we were paying it's certainly helping out. I'm grateful for obviously. You know being taken embody in laws. And dom. Yeah I mean it depends tennis differently they're helping. But did it affect you you're down and what it's effectively they are yes absolutely there. Yeah I think they've routed the questionnaire. Helping with the down in that house yet island you can living your house you can't help with that generation absolutely. We'll lead. Do we favor if you if you don't think you shoot to help you kid with the down payment texting my text number 63566. If you've never texted me before. You have to put the mining Berry. Now before your message what you've done that you can text is much if you want but I'd be curious as to why so many people don't think it's a good idea. To help their kids out with the Dow paint dry just participate in the hole its financial exchange show dot com. So Michael the you know the tax cuts went into effect the corporate tax cuts went into effect on January 1 2018. What are the corporations doing with the money that they received in terms of the tax breaks. Well I mean we certainly heard the stories about tuna bonuses and increases in wages and much I've seen a lot more stories about one time bonuses ad about him permanent increase in the wages. But the big thing that we are seeing it stock buybacks and you know I think we had all Taylor missed actually were in the studies the market like this and said. This is where a lot of that money going to go and so far that has been the case. Share buybacks in 2018 so far have averaged four point eight billion dollars per day which is double. The pace from the same period last year so you you know you've seen significant cut taxes. But double the stock buybacks that is a very very big numbers are few top right you know what supporting the stock market this year this is playing no small role. Let me explain why that correction we have it was so brief. Regularly like we had that favor the correction that was you know Lou it was down quite a bit. But it didn't last long did it because corporations sensibly start cash and in the rather buy back their stock. Than pay out dividend it's better for users that taxpayers too by the way. You're better off if your company buys back stock. Because just pay taxes on the where's if they pay out dividend you've got to pay taxes on dividends so I like the hide backs better than dividends. Again they I think one of the big indications of whether or not this economy in this market is going to have longevity. Is just how much in this tax savings goes into things like stock buybacks and dividends verses investments and new infrastructure. New plants and growing the business of verses buying back stock to me that's a pretty big indication of just how much. Longer this economy this bull market can team around. Well let me give you two numbers to that to line thinking. Non residential domestic investment. Increased by six point 6% in the fourth quarter of last year. Which included an eleven point 8% surge in equipment the biggest rise in more than three years so. You know part of that Michael is the tax cuts but part of it is also the business climate the business deregulation that were going through. That's what's inspiring this market business owners don't feel like you're going to be punished by the president if they happen to be successful and that that's why this market keep struggle walk it's a business owner friendly stock market. Wouldn't wanna be an count going forward and tell you why. Only nineteen point three million US taxpayers. Are expected to clean itemized deductions this year 28 team. That's down from 46 point five million itemize yours from tax your 2017 so think about that. Eat in when your filing an itemized return. I don't know what the numbers are but yeah by the vast majority. Tax filers who are the it that's your rich you've got a lot of deductions. You're gonna hire an accountant and my cost 2002003000. Dollars to have your taxes to. That numbers going from 46 point five million in nineteen point three me talk about simplifying the tax code I mean that. That's obviously a tremendous amount of simplification but managing your H&R block here you're you're pretty much out of business and. I mean. You're going to be taken hit if if consumers understand this and put you put this to logic I think it'll probably take a few years this to shake out before someone who's been. Going to HR blocker username you know for 500 dollar for tax return accountant. Take a look and say oh wait a minute. I'm going to CPA your pain some box rate be very few CPAs charge less than a thousand dollars trip to to do that tax returns so. If you're go to your local CPA they charge a thousand bucks and it's a simple fight return. You see yourself well you know like in the yeah good news for different folks Turbotax and if you these pretty simple online. You can you know you need to please Turbotax. You just use the iris yeah of paid time empty your taxes terror attacks is in charge for your federal return. Yes I I think you're gonna see a lot more people using services like this. Lot less people bonuses are taxes and charger register charged for your state return. Sure you know a that they are registered on your doctor ya know I'm pretty sure that they're textured. But it'll be here. You filed your role needed use a professional talk the dollar found lamp for terrorist action now it's. It's the heat is if you have an itemized turbot my point is the number of people with itemized deductions. Are gonna decrease by 60% seventy present at the pass them. It is like I just I think the CPA society must be beside so. Yeah I mean it could have been a lot more simplified. A lot of you were expecting that you could use a lot users. They still you know nineteen point three million still analyzing that's still a pretty big number. What is the market doing why is the NASDAQ down to Dallas up wise crude oil trading down seven cent 77 cents per barrel will be joined in the next segment by Adam Johnson from bullseye brief dot com. For full market analysis that is next but to. The financial exchanges lied on FaceBook can you do want to Berrian chug discuss the issues of the day and see which one smiles the most. Financial exchange radio network if you work hard for the past twenty years and enjoy a healthy savings account and a solid position to enjoy it later life hi this is jokes saving money for your retirement is half the battle but making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought in while most people try not to think about what happens after they passed it's important to set up your beneficiaries properly to ensure you protect your well my firm the Armstrong advisory group as a new guide out this month to help you understand the process of beneficiary designation because believe it or not there can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com since. Results for the securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you're nearing retirement age and of. At the set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your state taxes and avoiding costs associated with if you're over sixty years old and are preparing for retirement now's the time we called Tom Lipsky time as a partner with the law firm of Cushing and Dolan and an expert an elder law they'll walk you through the process step by steps of the your trust to set up properly and efficiently other several kind of trust to consider a reputable trusts are extremely popular to establish the kinds of protections we're talking about when time has written a new guide out this month to help you understand all the particulars it's called the operations guide to a remarkable trusts into tears are free by calling 8668485699. You can also download the guide instantly by visiting illegal exchange showed dot com don't leave this very important process to chance caller right now and did your guide at 8668485699. That's 8668485699. Hi this is Gary Armstrong and I 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 got another one that is surely worth your time to check out leader bank is offering an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today is rate may change without notice so 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. Free online banking with leader bank's new. 25%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank step ahead. Member FDIC a minimum Alex fees may reduce earnings rates subject to change without notice and may change at current account is opened. Hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business daily tax incentive program offered by the economic development authority that could help save up to 90%. In your federal income tax here's Wayne bigs executive director of the EPA. This is a program us. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that currently and we effectively reduce federal income tax because we do Ameritech's system where we use of federal flawless with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to our tax rates if you're. Business owner looking for tax breaks talked of the folks at the US BI economic development authority and learn how you can put incredible capital back into your business. Log on to their website its US VI EDA dot or best US. VI EDA dot org. We wanna hear from you. Thanks Steward diaries 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Well after a massive tax bill and pretty robust market returns and 2017 was so far seen a fair bit of volatility in 2018 joining us from bull's eye briefed dot com is Adam Johnson to. Give us an update on his thoughts on the economy the markets and what we're likely to see for 2018. Adam thanks for coming on a what are your biggest concerns or you think they're of opportunities for 2018 for both the economy in the stock market. But they're not so right now might have idolized and there have. Been what you're bury people who work in the companies are profitable economy is robust. I am bullish I have been bullish I continue to be bullish inflation isn't schett. You can look at the numbers that came up that morning. I I have to pick if they goldilocks because it's kind of become cliche that you sort of sound like right away it's not called a lot not perfect. But there's a lot of going right the economy there are a lot of being that we can play like the buildup by G. He did it to electric vehicle. Infrastructure. And it specific Torre you know unique companies that are that are doing wonderful things that. I had a good heart cargo short these state that you like every every from a short of the puck Mike I am recovering a bit about it and 15% loss so I ample. Yes can see that I mean we that employment report that we got last last week what is. Pretty I mean I can't really imagine a better employment report advocate again right NASA jobs growth but we're not seeing any signs of inflation yet where we had seen a little bit of those signs back in January which. In my opinion really cause some of that selloff but this most recent jobs report was all right idea that was about as good as you can get for jobs report. Yet we have the most number of jobs created are coming decade but it was staggering as over 300000. Granted that's only one month data but you know if you look at the continuing claims it below the fifty year though for creating about America. In a couple of decades and we have a fewer number of jobless claims in like five decades. That the powerful combination. And you know two thirds of our economy US. Economy is consumer driven and so when people are making money on the economy is coming I would like to see wages go up a little bit not. They get with everyone. We're not there yet but you know it's is that OK there's a lot going right. Absolutely well at an earlier you know eternal optimists here but play devil's advocate for a for a little bit rate the stock market generally. You know Reid's head of the economy beat Iowa you know 1224 after six months. What you what could throw you know a wrench into into the gears here and play doubles. Lou got utterly had a plan view there and he'll be a pat on the hate mail that that may be associated with what I'm about the day share. People vote with their pocketbook. I think we're gonna find that in November. The Republicans hold both out of the congress. The senate and the house. Not very many people are saying that all the debate over over by 38 back and your kind of all. Publication is starting that they waited that that could happen so people are gonna vote with their pocketbook. That going to eat it houses of congress in GOP chair and what better happens as we go to the dirtier the presidential cycle what he nineties. If you go back historically. To the war in your presidential cycle every presidential cycle who will work to. What you will find is that the third year is the stronger. And that is because the incumbent party pulled out all the stops there we elected the what I'm saying is what we've already seen a lot of stimulus. We're gonna you bore. And I think that's an effect on the economy it will run hot and you bet truck will be reelected there again there's your hate mail or bring it on. But what's gonna happen is that right when he when he we get reelected. Congress will be yet again an at bat in so much for good economy and inflation really does become an issue rate but right now the stock market you point out of the sport if nothing mechanism they'll pick it up there probably weren't 2019. So my take away is we got about another twelve to fourteen month. Who run it I think we well. And then we're gonna have an actual inflation. Fair enough any sector you really like right now or dislike right now. The other Tibet. He's a bank even yesterday but that was not a hundred okay what you do but it looked out here that you would flattered aren't. There that that was that happened. There. Adam I would love to keep you on the word we're have a tough connection there have been some power outages here in the studio thank you so much for coming on that's Adam Johnson from. Bull's eye brief dot com giving us an update on the mark in the economy as he sees it and you know to some degree he's right there's a lot to be very positive about right now especially. Sarah drove the stock market in the volatility we've seen but the economy is strong. It is strong and and I think he's right I think you the president could hold on to both the house and the senate. This November because the con straw if people do. Are they getting ahead for the first time in ten years. In the independent vote change administrations that he and tonight's election navy this election in Pennsylvania Wilkes. Is it great Bellwether. For what will happen this November in in this. Election in Pennsylvania it's a bit today yes special election. It's it's a race in this state that's very conservative this this particular precinct is very conservative. And if if it were to flip Democrat that would be very bad for stocks I think I I I would look at that say boy. If they could take that state there in that particular congressional seat I would be concerned but I don't think they well I think I think. People come out and they'll say you know things are going pretty darn well in immigrant stay with the the horse that brought us here they don't wanna talk about our poll question today which is do you think you should help your adult children. With down payment on the house. Finally rates either pay for the wedding or help with the down payment but not both Fleischer agree with that you know lead if if you've got a kid didn't they wanna. 20000 dollar wedding and they also want another 20000 by the house aides say he asked me in a pick between one or the other. 603 says Nolan a down payment because average families. To not have the extra cash well that's it that's a very valid point and if you. Our broke in you here or your struggling in your in your fifties your how much money save for retirement. We should be helping kids with that down payment on house because tech you hear you're not providing for yourself well enough. We'll take a look at some more these text messages if you have a strong opinion. As to whether or not you should help. You were child with the down payment on house Texas tech's number is 63. 566. If it's the first time we Texan this just might be in mine named Barry. Before we send the message will get it in we'll talk about it when we return Ross will be talking about Broadcom. And they're inability to fight court cause that is next on the financial expert. The financial exchanges and live on FaceBook so make sure like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. In your federal income tax here's Wayne bigs executive director of the EPA. This is a program that's. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech's system where we use of federal foremost with the money sees him territory at a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if Europe. Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its USD. IE DA dot org that's US. VI EDA dot pork. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont Monday no Tuesday snow winds see snow again Thursday no seriously Friday snow Saturday more snow okay who's been Massa win my script Carol c'mon that's not do without you know every day really. When you've got on the northeast most powerful snowmaking system just two hours from Hartford and you know you can count on grades LLC and loch. Mount Snow live to get there until now to get yours now at Mount Snow dot com slash. Ain't if you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with probate if you're over sixty years old that are preparing for retirement now's the time we called time let's see time as a partner with the law firm of Cushing and Dolan and an expert an elder law they'll walk you through the process step by steps of your trust to set up properly and efficiently other several kind of trust to consider a reputable trusts are extremely popular to establish the kinds of protections were talking about has written a new guide out this month to help you understand all the particulars it's called the operations guide to a reputable trusts into tears are free by calling 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 8668485699. Are better than one that everyone knows that and where offering to mountains and one. You can add cash and a cloud that now in the paint on the link. They're just twenty minute aren't and number one in the know how my. You're out in the one WR downhill this cleaner and added tax and clouds and that. You out it can't dot com for more. For me and hi this is chuck is not in I'm joined today by estate planning attorney Todd lots key. From the offer of cursing and Dolan with your financial exchange quick tip of the day and Don we're talking about how nerve Opel trust operating. A lot of people are afraid that if they transfer money into an irrevocable trust. That they give up control of their assets they have to ask permission to do anything is this a valid concern. You know it's not a valid concern but it's one that I can understand right people in general are gonna say. Like her durable Coble trust you lose all control and and for a lot of years that's true and for different kinds of trusts that's true. Not for the kinds of trusts if you're concerned about Medicaid protection. This kind of irrevocable trust. You do not lose that kind of control at all what kinds of things can you still do in a near mobile trust that you don't have to give up control so let's say you put your house. Can live there you can pay your bills. You can rent it. And you can sell. And you can buying a house with the proceeds and it doesn't even restart and waiting periods it's a wonderful flexibility you can also put in your investment portfolio. And and you don't even limit. The types of investments that you could invest in just hesitant by the trust some people get concerned that their trustee may misbehaved you have the ability to change trustees if that's the case you do have the ability to change trustees and put on anybody else that you would like so. You have that kind of flexibility as well and you can even change beneficiaries. On the trot so. Folks in valid concern you don't lose control when you put assets in these trust in you don't give anything away. Folks there's a brand new guide out from Cushing and dole in the details these very issues it's available by calling 8668. Horry. 5699. Its title and operations guide to the use of irrevocable trusts and again that number is 866848. 5699. Or get it online at legal exchange show dot com. It's hard to dial a phone or send an email list to dumb but it's easy to text we've got a new tech sign up and running when you can tell us what you think right now but texting us at 63566. You skewered Barry and join our exclusive club this is the financial exchange radio network. This segment financial exchange. Brought you might lead back with leaders zoom rewards counter and certainly higher interest rate of 1% cash back or debit purchases in the next 10% cash back when you use your card featured businesses. To qualify for these and other Ward's call leader bank at 8776917900. That's 8776917900. Customers must meet eligibility requirements to receives numerous awards conduct leader bank for complete details member FDIC. Our poll question today is should you help your adult child with the down payment for house 29 point 1% of you say yes. Seventy point 8% of you say no. In her text line has been busy you can still Texas it's 63566. But detective read a couple of these to you. 978 rates. Bury the more often you help adult children. The more they spend unfolds travel and eating out and they never really learned to manage their own finances. Well I I think that's a function of if accused of parent if if if I had acute that it was living high on the hog and not saving any money. And living what I would consider maybe frivolous lifestyle that I wouldn't help them either but athletic kid. That was hard working and work and extra shifts her work and on the weekends and taken part time work at saving and scripting. Quite sure what how that it. You know with the down payment on home. 339 writes my son is 26 years old living in my basement he's saving to buy something in Iowa helped them out if we can find something reasonable. Well you know I think people forget. Allowing your kids to live at your home that's so huge. Benefit because literally rent is but you know many people are paying in less than a couple thousand bucks a month. In rent as a couple. And even if you're single your pride and I don't know 1213 hundred dollars. Public in in rent IE I applaud IE I I think that. I wouldn't want anybody live and in my basement including my kids. But it goes a long way to help them if Broadcom that deal's dead finally they mean we knew this is dead last. Yeah I mean it whenever you have that agencies and looks into national security concerns sniffing around a deal you can pretty easily bet that it's not going to happen but now it is officially dead drop administration's stepped up and said. You must immediately cease insisted all attempts to buy Qualcomm. You know bail a lot of I guess a few open questions in a Broadcom had planned to relocate their headquarters to California. I don't know if that happens anymore. And and about you know Intel in this case such pretty happy about this. That Intel was concerned you this combined entity could really you know completely down there are artists aren't exactly so. Broadcom and Intel both up Qualcomm today trading down a bit like we mentioned first after the show. Not a huge surprise. Last year we've been reporting that Saudi Arabia was going public in twenty team is now looking like it might be delayed why would that deal be delayed. You know a whole lot of issues I mean one they're trying to get a two billion dollar valuation and she's nature trillion dollar valuation on two billion right and you're talking about the single largest IPO in history if they actually do succeed that value should a few issues one that's complex strategies based IPO ever. Gym about four times the size of the Alibaba. IPO back in fourteen. But they addition you know oil prices down right now is not helping the prospects for this this IPO earlier effectively trying to sell off part of this this country. And you gotta time it right if you're Saudi Arabia. The had to get seventy bucks a barrel this sort of insane for her. Over a year now if they're not gonna go public and totally seventy. And they're gonna have to cut production in order to get to say he'll always I don't know cutting production is gonna get an. National don't have as much price control as they did 2030 years ago which shame on them they tried to. We tried to right at this market and you have other countries like the United States that. You know found ways to get around. Answer say the united. States Virgin Islands which are located just south and east of Puerto Rico. Our wonderful place for you to relocate your business if you have a business and utterly pain five million bucks a year in taxes. The New England might wanna think about moving their business a lot of other companies have done exactly that they moved their headquarters. To the United States Virgin Islands why would you do it what they don't have a state income tax only choose Ali pays a territorial tax. And that territorial tax is 90%. Less than what you're paying currently in federal income tax and corporate profits. You can reduce your corporate profits and your personal income rates. By 90%. By moving your business to the United States the Virgin Islands and give your phone number call. It's 855622. 3634. EE 55. 6223634. Call that number. And they'll mail you the forty page report that you can run by chief legal counsel in your CFO to see if it makes sense for you. But if you're highly profitable business you might wanna consider relocating your company. To the United States Virgin Islands no passport required the phone number one last time is 855622. 3634. Tucker I thought would play a little trivia here. All right we don't have a prize no prize the prize because there's nobody at work you know this is fearless up at him. There's one state in New England that still has fewer jobs than before the recession. I'm not gonna tell you who it is until the break Michael. But what state in New England still has fewer jobs than before. The rush yours sessions started back in 2008 you know the answer to that. Text us our text number is 63566. 63566. To participate in our. Price free tribute. Question and Lou Willy you know who won it first but does it again with state has not recovered the number of jobs that they had. Before the recession. Can I give us six. I'm kind of the others says seven in total across a nice day yes sure it had not recovered as many jobs which I mean. Think about back back then in 20082009. Just how bad your personal economy was. And for a while they say it's just hasn't recovered also the the six others that are not in New England Alabama West Virginia. Mississippi. New Mexico. Wyoming in Illinois the six other states that have not recoveries made jobs the add back in 2000. Well at any rate send us your text if you think you know the answer 63566. Volkswagen just gave Tesla 825. Billion dollar battery shocked Volkswagen is getting pretty electric cars they are and they are making a big big move here they are the world's. Largest. Auto supplier. Volkswagen has secured 25 billion dollar battery supplies. For their increase production in this area they wanna have sixteen factories producing electric vehicles by the end of 20/20 22. You know we've been talking about who's going to be the first one to really compete. With Tesla. And I knows I know Volkswagen is going through all sorts of issues because their diesel mission scandal. But if you took that out of the equation here and there is one company that I would think could compete with tests on this. I would I would have given you Volkswagen for the diesel emission scandal about GM. I just Volkswagen is in terms of their worldwide presence so much bigger. Dale eight today he had GM has certainly made some moves and that it. Again in the diesel emission scale really you know stretch them out because they end up put paying a lot of money for for cheating all of those years. Volkswagens are really really big company. Tesla stock doing well yesterday and it popped more than it had a couple months is up four point 8%. Down a little bit today at one point six Ers. Yeah there there are up big you know one of the big announcements I saw is that they are increasing the prices. That folks are paying. Across the board for the charging stations of dishonest but the prices are increasing in their different state by state but on average between twenty and 40% increases. For the rapid charging stations that they have at 11100 across the country. And I think that might have been a little bit of an good news for the stock yet some you know some banks coming out and sing it again pretty good valuation on. Tesla as well but they're finally realizing that they can't just continue to run these things at a total loss year year over year they won expand. No they can't and the unity if they obsessed to raise money Iran. Yeah. I'll be very curious to see how many of the model threes actually produced in March you know Rocca that number for awhile. But the January February production numbers been disappointing in terms of the money went and to stop production dollar facilities for I think three full days. Three just says. It take care on vacation. And am now I've been. Hesitant to say that they're gonna get these model threes out even close to their time and put forward it and we have seen any evidence that there. The United States recorded 8215. Billion dollar budget deficit in the month of February. Its biggest in six years as revenue decline over charging less and tax. Yeah I mean you know when we pass this tax bill news. Pretty you know this was the main complaint about it was that is gonna created huge deficit and restart the CD impacts of that nose pressed. You re seeing. This increase its immigrant continue to increase over the next decade and they're depending on how much economic growth we release the but obviously so far and I don't think we will see that type of economic growth required to reduce the net says that this tax. I. When we come back we'll have the answer to our trivia question witches. What states in New England has not recovered the jobs back to pre recession levels. In addition we will be joined by mark hid that from seeking alpha remember a conversation. Regarding a stock that's been on one heck of a chair that's next on the financial exchange. To vote on our daily poll question had financial exchange showed dot com while you're there buyer of the media player and watch the show while you work. This is the financial exchange radio network. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time we called Thai blood Steve Thomas a partner with the law firm of Cushing in Dolan and an expert an elder law they'll walk you through the process step by steps of the your trust to set up properly and efficiently other several kind of trust to consider. But reputable trusts are extremely popular to establish the kinds of protections were talking about in time has written a new guide out this month to help you understand all the particulars it's called the operations guide to a remarkable trusts into tears are trading Michael 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 8668485699. Hi this is Barry Armstrong and a speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program us. Fully approved by congress has been in existence for about 45 years. We have several companies that are doing that currently and we effectively reduce federal income tax because we do Ameritech system where we use of federal foremost with the money CC territory at a fogleman has allowed us to do that to increase economic development unitary to encourage economic development unit territory sort of allowed us that we cut tax rates if you're. Business owner looking for tax breaks talked to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US. VI EDA dot pork. This is a special announcement for landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Iran today with a zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816 or 18691. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday no Wednesday snow again Thursday's snow seriously Friday no Saturday more snow okay who's been Massa win my script Carol c'mon that's not do without you snow every day really. When you've got the northeast most powerful snowmaking system just two hours from Hartford and you know you can count on great snow all season long. Mount Snow live to get around still mounds and get yours now at Mount Snow dot com slash save. If you work hard for the past twenty years and enjoy a healthy savings account you're in a solid position to enjoy it later life hi this is jokes ought to saving money for your retirement is half the battle but making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought and while most people trying not to think about what happens after they pass it's important to set up your beneficiaries properly to ensure you protect your while my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designation because believe it or not they're can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com six. Result with the securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Security suffered two securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated it's hard to dial a phone or send an email list to dumb but it's easy to text we've got an exact sign up and running when you can tell us what you think right now by texting us at 63566. He skewered Barry and join our exclusive club this is the financial exchange radio network. The company to video. Was the ninth best performing stock in the S&P 547. Team returning over 80% for shareholders we are joined by Mark Cuban from seeking alpha right now. So disgusting and video what they see as you know continued potential growth for the Sox so I guess let's back up and just talk about seventeen. Was it all the gaming industry for and for Nvidia that really drove the stock price last year. No actually I think he they're growth in the data center was it was a big mover for the prices. So you had. An abortive what do they story of the data centers and the lines as star. Over a 100% revenue gain while. You've done them well and that kind of in previous fiscal two. And what are you see you know looking forward so looking forward turn eighteen and nineteen what are the key potential growth there is this company. Well. Gaming is still going to be very strong you know that there is as strong belief that in Nvidia's management that gaming PC game they'll have an awful lot of growth potential. Did that better it will continue to be strong. And automotive business is actually expected to pick up considerably. Sometime around 20/20 timeframe when respected he's the first production autonomous vehicle. City do you think that they can have a pretty big play and that a lot of their chips to be started used in these Thomas did those who are the other. Big players that can be providing that sort of technology to his cars. Well internal want to be a player. And Google media players well although they're not really artwork. Now and Nvidia has positioned itself in the automotive industry is being. Really the principles hardware supplier for the top of the vehicle platforms. And right now there isn't anything that's really competitive to what they're offering either in what they call it the behavior crisis. Well play devil's advocate for me for a minute I mean the stock is got a price to earnings ratio over fifty which you know isn't unheard of in the tech sector. We're. But but I mean looking out of what you know what could be some of the challenges that they might phase two if you take a look from the other side of things here. Sure sure well it they've got competition. And he makes you can use as well they. They competed fiercely and in the PC gaming space. Indeed want to be a player in the data that are so far they haven't been terribly effective there there's certainly potential. Intel is a competitor. And you know there has win I think in the near term. That the whole crypto currency mind paying. Probably. Is gonna taper off sometime this year most most people are expected to conclude your forever. Was that a big revenue generator for Nvidia. Well. If not really sure if we're not really sure of the revenue generator was. I hear different numbers my home number my own estimated it was about 15% gain which is not trivial no. But but if so why don't wait you know they would still be on. Yeah so I mean stocks traded about 250 right now do you guys have a gap tristar that you looking at them for referred you know the next couple years. Yeah matter back. 23 Q is the current price target and we'll we'll see how that worked out. You know I I think they have an awful lot of growth potential. I like to receive them as just sort of the perfect site technology company. Yet they Martin kept about a 150 billion which is not just enormous but it. There's still big enough that they each and brings substantial. Resources to bear on any kind technical problem at all but they're Longoria told them that Billy you like out. Share share. Well very inched saying you know certainly one of the best performing companies last year and and not having to better year this year either Mark Cuban from seeking alpha talking to us about Nvidia. Again ticker symbol on Nvidia and VGA and I was market and from seeking alpha. Question are not a poll question bits of trivia question as to what New England state has not recovered to. Pre recession levels in terms of jobs. Some of you voted mean some of you voted Rhode Island the correct answer or was Connecticut in many of you had Connecticut as the as the answer but it is texting to see. Date eight that list like it we're company. States still haven't recovered to pre recession levels you guys just you know you think back about the things I people had back in Italy and still not have recovered. From those levels of unemployment turn into jobs in your state. It's just. That's rough I am in now granted I'm sure you have a lot of people exit those states do the other guy has created there in declining populations analogue users we know that's been the case in Connecticut. Picture this alphabet CEO Larry Page. His firm. Has unveiled its pilotless. Flying car in there and get their star Michael in new ZY and all these robotic companies start in New Zealand regulations loose there yet well I think is specifically in terms of some of these flying vehicles that thing there pretty much on the edge. It just. Flight innovation in particular incidence was accompanied that. Larry Page and invested in and backed. And if first flying cars can be called Cora and it's going to be able to. Move along in 93 miles an hour and it's got a range of hundred kilometers is that with that sixty miles that's enough for me you know for my commute. Pretty cool technology doesn't need a runway just lurched straight off the ground and helicopter and then takes off from there pretty. And Israel long time before we had this gone it's also fully electric man. Pretty impressive technology. You know the the the the cars called Corey though they don't want to say when it's gonna cost or when it's gonna be available for sale formula. If the let's let's assets at a cool million. I don't know we it's it's not going to be cheap I had surgery. Markets are open let's take a quick look before close about the show the Dow is up thirty. Four points and nasdaq's down 24. Yes appears flattened from what I can understand his Cape Cod is just didn't slam to getting text messages from W extricate listeners. Seen cases get slammed by this nor'easter I'm guessing Martha's Vineyard and Nantucket or as well. I'll be praying for all of you it's a tough storm to endure. The will be back tomorrow right here with another edition a.
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