Full Show 3-9-18

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This is the financial exchange with the very Armstrong and jokes are and a to our exclusive look at business and financial news affecting your day you're simply your world stay informed and today about economic and market trends plus give breaking business news every day. And now the financial exchange with Barry Armstrong and shocks. Home. Kerry and chuck are often John Mooney Mike Armstrong and Tucker's over in the hot seat today it's jobs Friday. And folks we have liftoff 313. Thousand new jobs in February. They added 39000. For January and a 151000. December Michael Armstrong jobs are popping up everywhere we look. Yeah I mean is a huge job number and you know what is unexpected here is you know last month of the jobs report. We had it to big wage growth and that's what spooked inflation concerns that's what spooked the stock market here you have huge number of new Jad jobs opened. But not a lot of wage growth. That is the thing is in right now it's it is it's a balancing act because if you told me we're gonna have 313 thousand new jobs. A day ago. I would've said the stock markets can be down a 150 points is because I would think that the bond market would get spooked like oh inflation is here. Run away you know we we would have been a major problem but the bottom line is. We are expecting the two point 8% hourly wage increase and he was two point 6% pretty good number but boom low expectations. While the economy sees me bowling this is like the best of all worlds from. A stock market perspective yeah you know this is another one of those good lessons about the economy and upping the stock market in the stock market on being the economy right. For the economy it's a really good news situation when you see our average hourly earnings go up which but he. Did in January they went up again in February but not much more than expected. But the stock market looks that says well this is great were adding new jobs but it's not costing employers anymore money. Right is I mean that's great for that rate for companies it's great for if you want low inflation that's good news for that. I mean not great for those low wage earners that haven't seen their salaries go up. Very important point I mean up until now from 2009. Until now in this great long bull market we've had. Unequivocally. Good news on the labor front is good news we want to see more jobs we want to see hiring comes. Again from from an American's perspective we wanna see that all the time jerk but from a stock market perspective. Since we got out of the Great Recession back or star together in 2009. We've won a job growth and wage growth we're at a week like me although we're. Investors are a little bit concerned about inflation at one point I would make is that there are powerful dis inflationary forces. Think about this technology. Automation robotics the shale revolution. Which means US are adding production by the hundreds of thousands of barrels every time we get an uptick in the price of oil. Huge thing as far as keeping a lid on inflation. And then the Amazon Wal-Mart effect you of two major retailers. Basically willing to sell stuff that cost tickets to keep market champ. Delivery stuffed your home for free that that you know this is that are below their cost of of purchasing it's up there are so powerful this inflationary forces there out in the marketplace. Yeah yeah there certainly are and at this point it's it's starting to look like perhaps that she knows that number that we saw last month than in my just been a blip moderator. I just not a Benson and through the stock market off by 10% in the matter crew wrecked. You know so that was pretty shocking but it might have just been a blip on the radar and you know age you type take a look at these numbers and it's been the same story for years and ray we have. We have new jobs being created in new people in the workforce but because that labor force participation rate so low. It might just continue deal like this where we don't need to see increases in hourly wages. Janet Yellen said don't be fooled just by the unemployment rate. Beneath the surface there were a lot of indications that there actually is a little bit of slack. 63%. Labor force participation. Kind of middle not not very good. We used to do better. One good piece of news that was the number of those people counted as quote. Not in the workforce. Tumbled by 653000. What does that say Mike about the attitude of people. And the possibility of getting it. About the enemy is just really showing that in a tightening workforce you have more and more people finally getting back in and I see this all the time I mean how often do you talk to. People that are 6577. UIV and saying yes I'm I'm kind of working part time here and there are doing this a bad either because I have to do or frankly because they want to. And just you know getting into work and again that's that's going to. No put a lot of pressure on wages rate when you have somebody that's collecting social security and also you know. Collecting earnings. They're probably not going to be pushing for that for that big raise as much is made the 35 year old that actually might need a pretty bad. And another indication that there is a little bit a slacker this certainly slacken in in the labor market right now a lot of people say the real unemployment rate used to use six. Which includes disgruntled workers a lot of people might be working you know that that. Ten hour week job but they love the work and forty but they count as you know employed. That's eight point 2% which is a high number but. Will be look at this sort of post recession world from 2009 on now that number is is getting back before the recession. Yeah that is we're we're getting back to on a lot of different factors for getting back to pre recession levels pre 2008. Levels. And where the economy was booming and you know it. That's some little bit concerning may have some of these there's some of these numbers that I look at India while I really don't want to be back at pre recession could progress if but this isn't a bad ones via. And you know the thing I'm worried about is excesses might use Clinton and this is what ends up usually causing recessions is you get excesses that caused bubbles the bubbles. Pop food and boom your big trouble. I don't see a lot of excess on one hand we've had a nine year incredible bull market. Are we that a bolt the longest in the most sub standard recovery on record. So this. Unchartered territory we haven't built up a whole lot of access as we have never had the kind of robust economy at least excesses but one thing that. It chokes on a pointed out in in I agree that is a concern. There is some concern about the debt that individual consumers are taking. I'm not sure it's completely out of hand but. What are your thoughts about. You'll things like auto loans sub prime growth credit cards which a little bit of a bump in the in leveraged by the consumer which sometimes is one excellent. We are and yours you're seeing higher debt levels much lower savings levels and even sought to three years ago I think the savings rate now is down to three point something percent three point 7%. And student loans auto loans and credit cards I see. I don't see as big an issue with the credit card debt we you know we are back to the 2007 levels. But I think that's mainly supportable I am concerned about the auto loan industry I think that paired. It's gonna be some sort of correction in the Ottawa an industry guy and died and always worried about the student loan industry was gonna happen. Yeah when I look at the number of cars being leased to a sub latest number is at 35%. Of Walt quote new car purchases are actually leases Turkish and Italy's. I do yet it's going to be Mal last least focus I'm tired of mileage anxiety and fuel. Just watch on the odometer for eight in the other exciting and I've I've I leased car once and but I would by Elise in this in a heartbeat. What's comes awfully because I want to come off sure yeah this item never took better care of a car than the one I least because you know in the back your mind if I do anything the mess this up am I gonna pay for part nephew own it in little dent to bump would ever no big deal but if you rent you're on the hook right that you lease reason. And that's a concern that that that. Also the higher the more expensive the vehicle you have the more likely there's been at least I think I was reading Mercedes. And Lexus L. Like 70%. Of the quote sales are not sales basis their leases and those are like 50600. Dollar A month payments for those Lexus and the Mercedes of the world those luxury cars at least it's crazy the economic argument for that though is that if you go by that you have to pay 70000 dollars. And they don't lose value that quickly so the economic argument is does make sense to lease it for years or three years never but I get these kind of warning signs I think that we need to keep in line yep absolutely the auto market. The more I hear about it the more right listen to people going in there and getting seven year and scares. It's going to that more than three or four because the cars are lasting longer but these are gratified to hear him yeah. And it'll be in fine shape and buy these cars are built a part of it and often had fighters there. You are good Armstrong. The creek numbers. Construction jobs up 61000. Grates on. Retail professional business services up 50000. Each. Manufacturing up 31000. Health care a 191000. Than we make of those numbers those are all good numbers. Yeah I'm I'm glad to see the construction is up man. The day we've been having a really really tough time getting people into construction right there's no skilled workers in that area. And it's been you know causing some of this really tight housing market we've been having so I'd like to see a little bit of growth in there. You need a heck of a lot more. The other industries are not terribly surprised by retail he had okay that makes sense. Business services mistress of healthcare and all in all make sense I'm surprised by the construction hope we see more of that. Month over month over month. I'm encouraged affect you so much of of of retail has migrated online. C 50000 new jobs in retail. If that it has no question about the health care of course it chug along no matter what if you can be in a deep recession they're gonna still I don't care jobs. Well speaking of credit that's something we have our eyes on the ocean interesting trends incredibly to talk about with. Matt Schultz from credit cards dot com Justin had to stay with us. This is the financial exchange radio network like a song. Book and follow us on Twitter that's TF we show you. Breaking business news is always first break 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 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 time let's tee 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. Now they're several kind of trust to consider a reputable trusts are extremely popular to establish the kinds of protections were talking about the time 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. Very our 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. 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 listened 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 well Shimmy world and entities that are 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. 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All right if you wanna learn more about easy rent. Go to Z rent dot net and give my call if you wanted to 8776917900. If your bank doesn't operate that can sign up for is he wrecked. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word. Barry is 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. This segment financial it's. Changes brought to you in part by the US Virgin Islands economic development story hurricane German Maria were devastating to the islands are already well on their way to recovery. If you're looking to start relocate or expand your business the US Virgin Islands is one of the most competitive business locations in the Caribbean. Take advantage of incredible tax incentives that are fully sanctioned by the US government for more information. Visit US VI EDA dot org that US VI EDA dot org. Relocate your business the US BI and reduce your taxes by 90% to learn more. Call and receive a free report at 8556223634. Visit US VI EDA dot org. Question did you ever lend your credit card out to someone else only to get burned. 36 million people have that's both lending it out and got burnt to tell us about this Matt Schultz from credit cards dot com Matt thanks for joining us. This seems relatively harmless but is getting stuck with the bill the big problem here. Jack absolutely. When he comes down to it if if you live with someone your card. Our survey shows you've got to battle war means to read chances of getting burned and the biggest issues did police find the people had. Is it people spends too much on the card that's obviously a big deal because regardless of who's been in the net start. You look at what is responsible for it. And there is a tendency to spend more than you would even if you're legitimately using it for yourself which is the reason why so many retailer. Pew retailers take credit cards in the first place right. There are plenty of reports out there that shouldn't people are more willing to spend a little more with their plastic yet. OK so you let your card to someone now she get burned obvious that they wonder that the thing that comes to mind as people spent too much what are some of the ways in which. People actually do get burned among the 36 million people. Well sometimes people don't get paid back. And sometimes the card is lost or stolen. In to what we've found is that. It's the most common person too low on the card to. Is your spouse. Or to hit it. So. Those can make for some awkward conversations across the dent. Yeah and and wondered about hearing it in and truly unauthorized charge. Someone gets my number and charges that the credit card companies on the hook in my cost me fifty bucks worst case scenario to get out of it but. What patient talking about that's kind of not so clear case were you probably on the hook up the credit card company right. Yeah you're probably on the hook for that exit. And see in really that's just another reason why you're probably better off saying you know if somebody asked the ball or you're card. Because it's better than. Setting yourself up for potential financial. I was gonna say I guess you could report fraudulent transaction that would make for an especially dangerous to oversee that would be a fraud dribble now be a fraudulent discussion and left. Yeah yeah couldn't get a good luck with having that conversation with your life for husband. It the right now another fighting I found interesting is that you don't learn that the less money you make. The more likely you are to get burned by lending out your credit card. Yes and I think a lot of that probably. Has a correlation with age as well. In financial inexperience as we weeks off for example the colonials. Weren't the most likely to get burned. And I think that that's also. A big part of it is that they are also the most likely be willing to. Land to friends or co workers in letting your husband or wife or your card is one thing. Letting the guy you played basketball with on Thursday night or your card is something else entirely. This might inspire some conversation where you might wanna talk about that individual and your family who's using the credit card. To either get their own credit card. As part of your account or or just try to get on their own on the realm I mean it seems to me like there's not a lot of reasons why people in the same family. Should be using your card. Yes generally speaking that true I mean there are certainly cases where if somebody forgets their wallets you can say they'll pay for this with four. Or also if you are. If you'd have a new color indeed you are trying to hit the minimum spends didn't get a sign up bonus. And that can be a reason to focus solely your efforts on one card but generally speaking everybody better off having their cards. Great advice met one final question this is not related to the topic we're talking about but you're an expert on this week talking about the increase in credit that we've seen. Is it got to a point yet where there is a concern on your part or is the increase in credit right now simply reflective of a stronger economy what you expect. There are some signs of trouble ahead. Did. There's only so much hard dead Americans can handle without it causing real problems and we don't know what that tipping point is. But we are seeing delinquencies increased a little bit we're seeing of this signs of trouble also. We're we're not staring into the abyss yet but he. He would be good so far. The problem is we we don't learn where the of this is until after something really bad happens is part of the problem. Yeah yeah it's true hands and we also even though we're at record levels for credit card debt. Those previous records we came down from those because the issues they weren't related to credit card debt. So we that we don't know what the true height and with the truth tipping point is for cart. Any other the other big differences compared to previous recessions is people have so much. Student loan debt on top of that I wonder if the tipping point and credit cards might be. Not as high as we think. It's entirely possible that these these student loan debt conversation colors everything with our economy. Right now so it's it's a really big deal. All right well Matt Schultz from credit cards dot com thank you very much in. The credit card is staying in the wallet it's not being shared with anyone. Thank you thank you very much Matt Schultz has just incredible statistic nearly half of credit card users current or former have admitted to let some else used them against. Should not be shocked by that. You know there's so many ways in which you see that the ease of using a credit card creates problems. Not just by the user but I typically get him out I've bought them. But I guess my. Kids one year old audience you used cracker project that's that you use in that and mole and all that stuff seismic record for. To edit points I used and off I'd rate it paid some individual but it. I mean amusement at Hartford for everything else. That. How budget Tucker no. And a kidding. From what I have I have a credit card my wife's has it as an account. With me so I mean it's the same basically the same as the sub account. And you know we monitor what happens I just I can't see any reason rationally why maybe like an online purchaser in there for like her real family member. Even managers like you landing it doesn't make any sense yeah I I agree so. Don't give your credit card out I enjoyed you device for people. But do spending your account with your name and use your credit card that's about the vice. We have a lot more still to come in the next half hour including a discussion with Liz claimant from. Fox Business with some analysis. Ground test great yes fantastic woman and it was a great anchor here in Boston now she's with. Fox Business that's just ahead right here on the financial which. Angel radio network. Like this on FaceBook. Follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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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 a difficult time let's tee 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 the time has written a new out this month to help you understand all the particulars it's called the operations guide to a remarkable trusts into tears are 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 86684856. 99 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 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 while most people trying not to think about what happens after they pass it's important is 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 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. Street watch a look at the market's performance so far today. Of Harry and jog here on the financial exchange radio network. And in for very chuck John Mooney and Mike Armstrong and Mike is our Wall Street watch guys might. This kind of a sad day twenties or us. Is bankrupt. Yeah and there I mean they've been going through these proceedings for a little while but the latest news and Weezer us is that they have had trouble finding anyone to buy at the assets. And they might start liquidating. Hard actually seen infuse stories around Natick Massachusetts. You know liquidation fire sales that obviously the suppliers to Lazarus not too happy about that Mattel and Hasbro both would be today. Mattel was down about a dollar thirty cents or 8% and Hasbro's Dan about three dollars and thirty cents 3% on the news so. No it's not too great for words well obviously treacherous maybe there has been the suppliers also pretty concerned. I've Tucker got some breaking news out of what him being a little bit of breaking news here general bill from you is yen just in the and Albie and FaceBook strike a deal for FaceBook to broadcast one national game a week exclusively. On FaceBook for 25 weeks ago and I'll be joining the streaming fun and make it that I mean I. On the big baseball fan but I can see myself like watching the game on FaceBook is I just see myself checking in on said national game on FaceBook but sitting down watch a male. I wanted after a messenger and even like I ice is this if I assume you do street right oh yeah later you would obviously want. What do the picture quality that would be a pitcher's decent I'm and it's time. I mean have you guys seen the Tom breeze documentary of FaceBook watch which they just they'd be right right next caller has excellent quality out. But I think I think it's I think there's too little too late in the they try I mean they're trying and you know they needed to made big structural changes yeah I think their game rather than whether broadcasting said some years ago there key keep yours I would be surprised we saw a lot of 1 o'clock and four collect games for the working man you know it's like chicken and their issue. And checking in on FaceBook and detection national game there in this same time it. Sing yeah I think that's the nature talking about it really would have to be in niche because what we've had with narrow casting. Is we've seen a real big decline in that's sort of generic game between two teams from another city. You know people want to see the Red Sox here they're New York that policy the Yankees and the Mets. You know how many people gonna sit there watch like the reds in the Astros play. In downtown Boston worked pretty you know maybe India I think it speaks Mort sort of sport itself and it does stupid media outlet and FaceBook. Just as the American Eagle on and on but baseball's not a good product is now I mean the century he does this but it's not attracting younger viewers well in this is literally NHL. And the seller to every time they talk about a way to make MLB more fuel. A lot of people who were my age and older say you know you're tinkering with the game you putting in a clock where people shouldn't have o'clock Utah. I I about the proposal that I think it's ridiculous. Where the losing team in the ninth inning would get to choose how to pitch batter they want to hit. Are yet to hear about that yeah idea huge it's it's nothing if it's it's a pure speculation and just like on ledges it's not anything official premise was. In the ninth and you could send up any batter in your lineup so etiquette and every four and five hitters. I'm the only ones here's the reason why it actually is interstate that is because. Baseball has vaulted to a real specialist game where you have a guy who's a seventh inning guy you get the setup guy in the eighth inning. You've got this like unhittable closer now was your best pitcher who throws a hundred miles per hour with movement who just gets everybody out right and the problem is the team that's winning. Is gonna win like 99.9. Percent of their games so if you're losing two to one and you're going up against their closer you might as well just go home. In the argument is. They've got their best player out there for the ninth inning. You are the best player let's see what judge I'm doing this for staying debt and meet so. But it's it's obviously. You're trained on the game. There has so. 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Yet we've got a lot of attention obviously the jobs report today and the kind of best of both worlds scenario where you have a stronger economy yet. It looks like inflation is under control so that's great news all around you I think the markets ultimately would like to see. The economy gets stronger and stronger in interest rates just gradually slowly creep higher exactly we're seeing today that the ten year is a backed up to two point nine. But that's not the kind of collapse that we expected in May if you if you told me 313 thousand was the jobs number. I would thought that number could be over three so that's really good news and equities seemed like it was up 1% 250 points recipes up close to 1% today and important point out to both on the upside and downside is used up. 1% is now 250 points. So something to keep in mind we get too excited on the upside or two down on the downside I understand like 500 points is not that big a deal. Because of the size of the index of 25000 with the Dow. Moving on though an issue as we worry about inflation down the line. A major issue is trade share in the extent to which higher costs for everybody. And import costs for everything has aluminum and steel limit which is a lot of stuff. The prices that could be going higher. Story is a trump course signed a metals tariffs that. Spare some allies yeah yeah so this was just finally signed until signed in yesterday at 3:45 PM right before the markets closed. I game a little boost towards the end of the day and obviously given them a boost a lot of those jobs report this morning but Canada and Mexico. Are officially going to be excluded from the east parents and effort that's been following this story. Candidate provides the by far the most steel and aluminum into this country any country there's so. You know what's that going to do to the net price of steel aluminum down the road. Certainly it's not going to hit it quite as bad as we are initially thank you are talking about these terrorists right across the board. And you know we've heard a lot of people complaining about this the beer can industry is opposed to it via. A large chunk of what you pay few Beers the cost the cam right. And you know I talk about Joseph six pack literally being impacted. You know the beer can in the street was saying hey this is to be passed on to I heard an estimate about half a penny her camp. Soup beer and OK I mean that's that's not. Doing anything about half of paper command for a case of the year well okay that doesn't seem that significant but think about how much mail goes in to. A car or tractor warm when those giant caterpillar. Earth movers a lot that's where you and that's receive real change I heard stat which amazement Boeing jet. Guess how many aluminum screws aren't typical large Boeing jet renewed. Two million that's a lot so my feet behind Boeing jet anytime soon but you might be flying on one on the cost could be higher. We are a lot more still to come including a discussion with this claim and from Fox Business just ahead this is the financial exchange radio network. Have a question for Berrian jock. Now you can text us at 63566. And take part in the show at any time start your text through keyword Barry 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 in 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 and while most people try not to think about what happens after they passed it's important is 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 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 I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate of this standard 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 risk. 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 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 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 US VI EDA dot or best US. VI EDA dot org. Hi this is chuck is not in I'm joined today by an estate planning attorney Todd lots key from the offered cursing 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 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. I heard your vote 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'd do not lose that kind of control at all what kinds of things can you still do in a near vote Coble trust that you don't have to give a controls 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 combine other 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 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 we 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 and 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 your provoke able trusts and again that number is 8668. Foray. 5699. Or get it online at legal exchange show dot com. The same video pads and pounds. But don't tell Berrian Jardine the financial exchanges alive every day on FaceBook and YouTube Dennis. There's the financial exchange radio network. John Moody Michael Armstrong and Tucker Silva on a day with the Dow has rocketed up 265. Points together a jobs report that as the best of all worlds a stronger economy and moderate inflation doesn't get any better than that. One of the issues though that's in the back burner that a lot of people are concerned about this week. Not so concerned about today but kind of ongoing as is that the whole trade situation. And the tariffs and Mike Armstrong the true terror plan is challenging a trade system that. The United States actually helped build. We did yeah I mean the US was a very very big player in building the World Trade Organization they wrote a lot of the rules and it's basically being forced and been followed for a long time even though it's been yet disagree with the times. At least by our house. There's a lot of other countries that don't. Following too closely China. But you know I'm among our allies among you know most of Europe it's been pretty closely followed in the big complaint here is that. When he's used this national security excuse for a very and so that's what the US is doing here is there no. They're not imposing terrorists based on you know different countries cheating. They're going out there and saying we have a national security interest in keeping steel manufacturing in aluminum manufacturing here in the United States which. Is good point. I understand. But if you're claiming national security issue then your also come you know claiming that. We needed here and it's not good enough to have big steel manufacturing in this country close allies countries and so if I'm France to find you know find the United Kingdom I'm saying OK well. I feel the same way about auto manufacturer. Right why shouldn't we have been protectionists things against auto manufacturing so there's been NASA tariffs against champion award and all of these you know the autos that get shipped into our country so. That that's the concern here is known that you can play this game it. And the concern is that it that it's not be not becoming contained the concern is like he said that okay if you're gonna raise our tariffs were gonna raise this to earth right. I think portable pieces of leverage the United States has though. Is that we're such prolific consumers yes so. We can deal with that other countries on the basis that. Hey we buy a lot of your stuff. I mean we are absorbing all of these other countries trade surpluses and that's exactly that the trade deficit is the issue that's been raised. Let's go a bit about the trade deficit because. I think that is something Larry Kudlow is pointed out and I agree with Larry in this completely. Weaken. Completely agree that budget deficit stink at the debt is parable I mean he's unilaterally it's bad. The trade deficit is a little more nuanced it's not clear cut. You know Larry argues and I agree with them that cap and trade deficit in many cases is advantageous. By having the trade deficit we now half of much safer much better much more reliable. Much less expensive cars. It if if we have a closed society in vehicles we'd still be driving that ship the that lasted for years and you jumped. At 55000 miles yeah I mean it wasn't that long ago competition is it. That's the key I mean yes things are pretty unbalanced at that point but it. Generally speaking having trade deficit as a staff competition. I was just at lower prices. And it drives improvement when we buy a very efficient vehicle. We buy. You know washing machine that works better than the one that's available that's made down the street. There's an actually economic advantage to that I I think. Talk to a lot of people are that would argue there are washing machine they bought 45 years ago when they're works at. This new Korean won that they bought a few years ago I've heard it played a lot status and I got the best example but if but one thing we should say is that I. Among the Larry Kudlow element on the other side is a guy named Peter Navarro the and you know I remember talking to Larry about this is Larry concerned that Peter Navarro might be gaining outsize influence. And months ago we said I don't think so but I I'd looked at the conversation now because. Peter Navarro seems to be the man behind the embrace of tariffs in it seems as though his stock has gone up. Oh yeah I mean if a few months ago peer Navarro is you know. Going out there are so much and you blasting the whole white house with his views so badly that general Kelley action to tell me hey you're not allowed to email anyone anymore unless you see see your boss Gary Cohn on those emails. What Gary's gone. You know the Gary was the last person that was a real big promoter of free trade in that White House and dad. The Peter Navarro you know for those not familiar with and he is very much protectionist. When he ran for democratic office to California and number of times and he is. You know in the the main. Player in the currently the main economic advisor to the white. And that's why. Is going to be very interesting to find out who the president appoints to replace Gary Cohn. Who essentially was his chief economic advisor to non cabinet position. But a position that really had outsize influence and Gary Cohn can you know walk into the sunset knowing that he helped. Sell and create one of the most massive tax cuts in history of the United States. Specially in the corporate side so it's it's not like he's walking away with you I haven't done much he accomplished a lot. I think trump mentioned yesterday I was gonna make couple hundred million dollars and who knows might come back up. It's nice to have that agenda united able walkways make a few hundred million and come in as a Goldman Sachs executive. Huge tax cut and then the other big story this week is. Donald Trump agreeing to meet. North Korean leader Kim Jung is this going to be a paper view was on them I thought this would be a I'd like to see a steel cage year numerous times but yeah I would pay to see this one or would the man that the president called rocket man. Maybe we can have Elton John you know do do some music. Beer ads and that was the worst thing. Yeah it is true. What what do you make of this. I'm surprised as soon you know for the record if this actually does in fact happen and Donald Trump will be the first sitting American president to ever sit down with the leader of Korea. Ever guys since the country was formed to be the first time. And I am on the fence about this you know like diplomacy. Clearly what we've been doing hasn't been working. But I don't know what we're getting this to me it says okay so they're basically stop there nuclear tests which they'd this be doing anyway he says he can keep doing your military tests with South Korea well we're going to be doing both those things anyway. So what are we getting this return word you know legitimizing. North Korean leader by sitting with photos. Dispose of them together I mean that's a deflated us I mean that's what the North Korean leaders getting no legitimizing his it is. His presidency is is ruler shipment. What does the United States. Adding to play in the United States is downplaying they're saying at this point we're not even talking about negotiations. And they will continue to downplay that you know it is it more than a photo op. One thing that I do think the benefit year if you're seeing this and Asian markets which reacted very positively. If you're in Asia right now or fewer in China or if you're certainly hints in South Korea. Your feeling like it's good that these guys are at least sitting next to each other yeah that there's a benefit. See you Tuesday it is a reduction in tension by them talking to which I mean clearly the C South Korean leader feels enemy he's offered to reach out. There are some pretty good moments during the Olympics that'll throw this I would imagine that's where all of this stand from this from the collaboration collaboration between South Korean Olympics for some conversation would be very. Is a fascinating this Olympics could be his store in the sense of the way it's impacted the relations between South Korea and North Korea. This story aside I'm astonished at what happened. Yeah so I mean. I would still it put you know maybe a 15% chance on anything positive action coming out of this good at 15%. Held a lot and when it went is gonna happen today. I think they're trying to negotiate the pay per view right now that. And where are they gonna meet Madison Square Garden. Yeah and Jim Las Vegas. I don't know a do not know that they have picked a location. They haven't really decided on the terms of the meeting I think they're trying to find out what might delete Jules is not performing at Madison square yes and of course the race it was an awesome month so let me that the film in between really jolt. And you know who knows maybe it may be Elton John could perform a special rocket man panel would be pretty legendary hit back. I. Well we were hoping to be able to talk to on this claim in coming a little bit was mostly a lot more effective double look at the markets which are just on fire. That much more still to come on the financial exchange radio network. 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Or zero rent dot net. 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 state taxes and avoiding costs associated with probate if you're over sixty years old are preparing for retirement now's the time we called Lonsky 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 but reputable trusts are extremely popular to establish the kinds of protections were talking about the time 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 866848569. I air raid. From either a spouse a parent or from someone else and Mike. So little complicated sometimes are 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 isn't the easiest version of this heritage money from a spouse. That hire ray can simply become your own Kyra the money can move into your own account you don't need to start taking withdrawals. Although I will point out you can start taking withdrawals if you choose to you just need to open a different type of diaries are 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 year old take BR MD. But the money does need to start coming out immediately. Folks the guy is titled understanding traditional fiery beneficiary designations it's available to you at 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 80393. 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 American 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. Perry or 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 very well that should mean world and entities that are designated services we have several cost senators that we have several centers that do back office operations and and then we do high value manufacturing and how 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 EDA at US. V I EDA. Dot orchid. Do they are better than one that everyone knows that. That's where offering to balance the one taking. You can he added tax and a wildcat mountains in the same day Imus the only thing. There's just twenty minutes apart in the number one's in the heat. Until now instant 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 chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world stay informed and up to. It's about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck saga. Kerry and chuck rough John Moody Michael Armstrong and talkers over here and what a day. Is the Dow up 256. Points. Because the jobs market looks fantastic 313. Thousand new jobs created last month he added jobs the month before in the market for that. End this all happens while inflation seems under control average hourly earnings up two point 6%. Little less than expected normally that wouldn't be good news but when you're concerned about inflation. It actually is music to the ears of Wall Street investors. Wielded over 250 points now S&P up about 1% NASDAQ up 1% so markets are generally pretty happy about this jobs report. And you combining that too with remembered last yesterday afternoon right before the market close Rea Donald Trump come out with his revised tariff plan which now excludes Canada and Mexico beaches pretty big news as well. The exclusions are really important they are as if you're looking to try to avoid a trade war. And you looking to try to diminish the impact of not what this could mean in terms of the in terms of prices that we all pay. The exclusions are good for our allies and they're good for pricing overall. Trade deficits. We talked about earlier that the US is asking China. For a plan to reduce the trade deficit there's a massive war with China. We'd like to reduce it by a hundred billion dollars. Two words. Said the US has asked China for a plan to reduce that hundred billion dollars and stage to match their office. And what's their incentive to do so. What there incentive would be that they do not like the idea that we might be imposing tariffs on their many products that are coming our way so we do have some leverage we buy their stuff yeah. And that's pretty good leverage and don't buy as much as part of our stuff they shouldn't. And you know. This is why we don't buy their clarity is not gonna work with this country you'd need a stick and do. Every company won it the dream is to do incredible business and why does the largest population in the world the problem is when you start a business in China. Let's take Tesla differences and expand their production in China. When you do that. Here's what you have to do yet to set up so in order to for Iran must import has cars and Gina into China without a terrorist. Yes to set a manufacturing plant and yes to partner with a Chinese company. And yes to share technology yet to share profits he has to share all the information that's just going to allow China. To rip off this technology and create the same products for the price. And that is appointed Elon Musk categories on our star on our agenda here which is. He told the president that China trade rules make things very difficult and one of the things he pointed out is that there's a 25%. Tariff. On cars coming into China from the United States. General Motors sells I think more cars in China and only do in the United States pretty close. It's a really big deal honestly I don't know what a Chinese cars that we bought no. We take you pay etiquette in negative tariff I'm not sure we view by too many Chinese cars but his point is that only zero point 25%. Usually zero point 25% charge on cars coming from China to these guys physics all seventeen of those. Cars wrecked. Eight what you have with China is just a classic prisoner's dilemma who have been if you ever studied economics you've heard the term prisoners dilemma. And what you have is you know if all US companies said OK we are not going to expand to China in less there are stronger protections against intellectual property. Then the entire US. You know all those US corporations would be better off but the incentive for one US company to go over to China and make a huge profit. Is so huge and so enticing that none of them would ever worked together to avoid you know sharing intellectual property with China and because of that China has been able to successfully. Jumped leaps and bounds. With their technology with their products and you know effectively mimic. American and a lot of other countries technology technological resources. And just jump ahead in terms of production and you know. It might be a very good time moment in time for us to be reassessing and am looking at the situation. Because up until now he's in defense of the the status quo. We have got a lot of cheap goods that's helped our inflation rate that's close to get. Lower end products at a cheap price there's a there's the economic benefit for that China is transition and go from a country that. Basically made cheap stuff real cheap. Into more consumption oriented society of a lot of people millions of people. Moving into the middle class you're looking to buy things right so this might be really good time to this kind of set the ground rules and say you know what. You can be buying a lot of our stuff we're gonna buy a lot of your stuff let's make these rules fair. Wreck pay and you know we talk about the national security issues right we talk about how we need a steel industry and aluminum industry in this country. This day and age when you think that the real national security issue has a lot more to do with intellectual property no question does with steel and aluminum manufacturing right we need to have the best. You know chip making technology we need to have the best information technology means at most and best information security technology. And when we share that with China we are. Putting national security at risk far more I think than having a fledgling steel industry and they're attacking that all the time there. We'd actually secure a lot of our top companies because we know they're being infiltrated. By outsiders from China and other sources that are looking to get that technology one thing that makes it does that complicates the situation and why. You know when you've made rules of the 1930s it's a lot different in the in the 2000. Mercedes. And BMW. German companies. Export cars made in the United States. Two countries outside the United States much of what Mercedes and BMW cell in the United States. He's made in plants in the US but on top of that. They also these German companies are building cars in the United States. For the purpose of exporting it to other countries so I like how did your rules applied here. Yeah. You make of very good point. A little bit of breaking news here just Denver for a second treasury sectors the new action. Just chimed in that there may be more countries coming to be exempted from the tariffs on steel and it. So very. Very breaking news we'll see if there's any announcement officially on this but when I heard that Mexico argument. I couldn't help but think well I can list off another half dozen countries it's pretty tough argument to keep Padilla keep a steal in the air on these countries are a number of our European allies that hey we're buddies to. And you know they are pretty tough to argue. So maybe everybody but North Korea will be exempt the by the time we're duck but the but anyway we did mention Cooper is agreed in principle exit southeast Asia for stake in the rival. Yes of we are a southern do this. In China so if you're called. Mitt the last years of the big Chinese competitor Hoover whose DD. And Hoover was pour it on money trying to compete here. They finally came to realize station it just wasn't worth it surveyed agreed to exit China for a big stake in this in this company DD in their during the same thing in southeast Asia. Indonesia. And basically saying okay for a 30% stake in the right company grabbed we will exit the market basically grabbed him. Not a monopoly because there other ride sharing companies taxi cabs you know allowing grab to beat him pain game player. Over the through a lot they've had a lot of allegations. Among the upper management issues of sexual harassment. Sexism this is certainly dog the company in their birth and their attempt to grow. And I'm just reading that Travis Hellenic is is forming a venture fund yeah I mean quite frankly overs just spread themselves it. They have all these issues they're operating all over the world dealing with all sorts of legislative issues. This is a Smart move and if they can basically say hey we're going to be accident a few of our markets that are pretty tough for us to operate in the first place. Focus on you know a few of our areas that were seeing good profitability good growth. This to me makes a lot of sense especially if you're trying to operate an area that you know is an unfair practices and they certainly have grown overnight let's not overnight anymore but. You know they've had a lot of growing pains and this business is evolving I think you'd be looking at higher fares and more rules and the become essentially more efficient versions of what the taxicab industry. What is. And you know the taxi industry was doomed to be disrupted there's no question about that it was and I mean he had he talked and those guys that are on the medallions and it's a pretty tough spot and you know it it's a tough spot to be carries legislatively. Eighties you saw something happened here where you basically just collapse completely unregulated industry to come in and disrupt. A very highly regulated taxi industries so I'd I'd do you know have some sympathy for those owners. But they'd. To be you know and to be fair to over they just refused to modern and their paying the price there are no question about five G technology is the next big thing I'm just got good news to forgy but. Five G is coming up and it proved it could be very interesting technology for a financial for future. We have a more on that coming up in just a bit so stay with the financial exchange radio network. 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 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 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 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 are strong advisory dot com since. Results for two 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 that are preparing for retirement now's the time we called time 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 the your trust to set up properly and efficiently now they're several kind of trust to consider that a reputable trusts are extremely popular to establish the kinds of protections we're talking about Intel and 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 illegal 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 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 and they got another one that is surely worth your time to check out leader bank is offering in. 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. Three 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 rate subject to change without notice and may change after an 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 David 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 the 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 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. For awhile now we've been hearing about rumors of feed him potentially largest tech deal in history with Broadcom and Qualcomm. I joining us now from CNET is Roger Chiang to talk about this deal the technology that's being developed and how national security concerns me in fact get in the way this deal going through. I think coming on Roger would you mind just kind of backing up for our listeners and talking to us about what exactly these two companies do why they'd be inch of each other businesses. Yeah totally the ball is it. Ship. Tablet out there. Our cars while I barely. Likely that the there and while I've brought make. Look at the top boxes. Servers and a number of different. Combination. There too little chip maker in the world and they beat like that virtually every one that you were. A cut and so. We talked about this five G technology now obvious are seeing three G forgy. And I think Qualcomm is one of the biggest investors in five G technology what is that going to look like wise it's so important. And why why is it raising national security concerns at this point. Now is not be there I achieved that promise the next generation out Altria. Much much academic we have right now that. Is able to handle all of that poker night is that. Your refrigerator or you don't call all backed by all that other. Eight is one of the heart Hector. Or act out or out there I'd really. Seen as the Asian. A lot other tech like ultra card element. The Internet idea that connect. Everything to action network. Or spot network. And it'd be if there's a lot of hope that this sort of an electric. Pat. Week about brought. Brought cop walk on. Here. That the government Bret what brought calm and order. Buying Qualcomm which is if you let companies and at that site he had these he leaned back. Cutting the foreign companies buy out all it would mean we. We don't have any US companies. Looking into key technology are building but not in joke that album electric current from. Syria acquired conditions no US interest in developing this network which I mean clearly this is a big issue right if you if you need help we have all these different. Devices that we're trying to put up the Internet and I concede that united have. Refrigerator car. Garage door opener and an alarm system and heater system that all need to talk to the Internet. I can see that that would be big issue Putin and good enough network to provide that service. Right it very clear there that you're partnered bike ride the infield the ball on the build out our network. But they are there it would be using technology. Should start that would be desired or they'll lie while copper pot. Roger if this is John is it fair to assume that the US has the lead on five G right now we. Probably don't know for sure what's in the vault of of our competitors but is it fair to say that we probably are in the lead on this. I would deliberately actively work world leaders will that day Korea and China are the order Aaron back. Create he would have media outlet that IT that I would be it village. And so is development for our purposes if he. But it would or. But what real fired but. There's no doubt that he's the country's current. I'll be away and we will see some clips of five C in the US and you're right it probably being used by C at eight brought down. A couple of cities are being Pacman now eighteen feet. Like lacquered product to but yeah it doesn't local. It doesn't cities lacked a pilot be fairly limited. They'll be the case what but it will be like down. Is that you point out the advantage in five G vs four G. In connecting you know the Internet things and in bringing together a lot of the items that might be you know household for example really multiple products brought together one which. Is a fantastic breakthrough but when you look at the actual individuals cellphone. Is there really going to be that noticeable difference between the other connections we get with four G verses five G or he could be game changer their. A little bit critical indicator that the below or. Grouping orgy connections but I do think that what he is by GE in particular their pocket IT. There it the that would be that it be huge where we're talking about. And no connection at bat and eat at a cool it would fall by connection their there are no to that point Gigabit connection so. Big event out he download. Entire. Catalog of the episode they're not our. But that's because these were not in that. Pretty incredible stuff well we'll see what will soon ends up happening here obviously it's not great news whenever you have. The committee of foreign investment the US looking and year deal but that could be a potentially massive takeover here goes through joining us to discuss all that. Was Roger Cheng from CNET again thank you for joining us right. Yeah right it's it's three inch I guess the bigger question might not be how much faster is going to be night if you tried to connect all the devices that we're currently trying to use in want to use in the future to the existing network. Wouldn't support it and my guess would be answers now. The answer probably is no and if it did support it wouldn't support that efficiently and I think the point to Roger made is that. This is something that will be very important for connecting multiple devices and is the world evolves and the Internet of things which is where we're heading. This is going to be a big breakthrough. I also think it's interesting that we again consistent what we talked about earlier. This is a national security shy we re dealing with technology. Those weather then engine technology. Have an advantage. In national security and those who have a disadvantage in technology. Are vulnerable on national security. Yeah I I I certainly would not want to see all of the chips that are going to every it's almost every single phone that we use here in the United States. All of being produced by one on US company that would be a major don't eat pretty concerned. And it's interesting too that does their other countries that are are right up there with us in the breakers with five G and it's highly competitive right now. And I think it's interesting that we are you know stepping into the saying hey before we allow outside investors committed by our assets. We need to adherents. We need to take a look at this we need to find out what it actually does mean force security says it. Technology is really morphed into something more than just something we use for our gadgets it has become a key national security issues no question about it that none whatsoever. We're gonna talk coming up talker what you'd tell us about. The rock. And how much he is making in one movie and I ice caps superstar now. You really is I couldn't get this place a wrestling. A much if wrestling is just off the charts popular and everybody thinks that you know said years ago which is the bad. It's actually increased in popular item but we're gonna talk a bit about the rock. How much he makes one movie why he makes that much money and a lot more. Just ahead on the financial exchange radio network keep. He went yeah. I've got to but if it's just it's our team these things you don't know at the reps like Brian Hoyer you know I kept it up. This year about the running back and work well for an hour and a hell you don't want to be rockets as crock apparently it that's right yeah we'll get into to find out is is going to rustling. Or is going to be a tight end we're gonna point out of the financial exchange radio network. The financial exchange is alive on FaceBook so make sure like your page and watch 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 a 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 EDA. This is a program us. Fully approved by congress has been in existence about 45 years a 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 foremost with 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 Europe. 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 USD. IED a dot or best US. VI EDA dot pork. Okay skiers and riders listing look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday snow Wednesday snow again Thursday snows seriously Friday snow Saturday more snow okay who's been Massa win 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 grades LLC and Juan. 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 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 let's tee time as a partner with the law firm of Cushing in Dolan and an expert an elder luck 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 a reputable trusts are extremely popular to establish the kinds of protections we're talking about Anton 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 Michael and 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. Better than I want everyone knows that that's where I bring to mountains and one. You can add cash and a blouse that mounts in the paint and the only they're just twenty minute aren't and number one in neat. How yeah. Now he's the one WR downhill this cleaner and added tax and clouds and that. You out and we can't dot com for more. From me and hi this is chuck exotic in I'm joined today by estate planning attorney Todd lots key. From the offer of cursing in Dolan with your financial exchange quick tip of the day and Don we're talking about how Irv 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. I heard your vocal 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 in your probable 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 combine other house with the proceeds and it doesn't even restart and waiting periods it's wonderful flexibility you can also putting 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 valid 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 in the details these very issues it's available by calling 8668. Horry. 5699. Its title and operations guide to the use of your vote bull trusts and again that number is 8668. Or eight. 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 day text we've got and tech sign up and running when you can tell us what you think right now by texting us at 63566. You skewered Barry and join our exclusive club this is the financial exchange radio network. John Rooney Mike Armstrong and Tucker silver in on the financial exchange network today in a beautiful day on the on the market. The Dow up 280. Points. On of very strong jobs Friday warned that coming up just that the first. What the whole world's talking about here Tucker Silva is how much. Dwayne the rock Johnson makes. For appearing in one movie. Yeah I mean yeah he's really be the cream of the crop right now in terms of superstar. You know he's not a great sector in the world but he's a well known. A commodity both in the movie industry and it's a television now he's got his own show on HBO now to sell. So I think he was the highest paid actor in 2016 apparently 2017. Slightly got beaten happened twice seventeen between the rock Johnson made. 65 million dollars and in this movie that got signed the red notice he's going to be making twenty million dollars from one. When he million dollars and we realized from one what's appeal of the rock he's a very likable dot com. Yeah I mean he's very good in terms of social media and keeping in touch with the fans I think that's a big think on firm it was post videos. A an interaction with fans and everything but yeah he's just a very likable guy. Com and he's in natural when you start a dimensional and sport seized and comedies here and there yet you know Barry were known and most recently from Jumanji which area political potency. For some reason. Yeah estate agents are retired have you won actor that's actually bringing in viewers rage these days it's all about the franchise. Yeah you know your years have you avengers movies yet Harry Potter films it's all about. You build. One franchise around. You know either a French as it exists in the past or a book series like Harry Potter and you don't yeah I paid actors to really attract that right but it. Doing the right Johnson seems to be. The exception to rules there are times looking at his. Upcoming movies for. This year and next year and I'm counting easily six of these are easily got to make a 150 million plus dollars a lot easily. Remind you to San Andreas to. A big movie skyscraper. Rampage which is a reboot that's gonna make a big trouble in little China he's making. You know he he's just a moneymaker for over the movie business in general it's been nice. But to Mike's point there's like a scarcity value here because there really aren't that many. Individuals male or female. Who would you put him in the movie you're guaranteed to have a big it is that's pretty small group is now. Had lately about the fast and furious franchiser guys who is as is done I think. For the big thing for centuries he's. Internationally. Varied yes that's the thirty years ago eating care. It is the instead be popular here in the US in now it's all about you know how much being part this movie overseas because it's faster. And how long he stayed on top is pretty amazing I mean I think when a winner for sure but you know the rocket that is a flash and and he's having his fifteen minutes goes by Dwayne. And yet. Yeah in his first movie okay you was him in the feature role. While this is 2001. And he was in the mummy returns and he was the scorpion king that was his first movie remember. 2001. And and and is that actors the actor operative for it Brent Frazier were yelling and if I'm a catching on like wildfire to the way he has an amazing. We're in a bottle a more serious topic more than a 172000. Customers sadly. Are still without power. And Massachusetts in just a mass juices we deal with the the latest in the string of storms really dealing with more snow could be coming. This is a tough situation yeah you know as a father of young kids now one position right now biggest issues at an Essex County 24%. In all of its customers currently without power. But most outages in Essex Middlesex westar Norfolk Downey's. 136000. National Grid customers 36000 ever source customers. He had not surprise me at this thing kept up all I had every seemed average. On trees. Let me ask you this John this was an M might actually. This was our poll question. Yesterday. Knew it was pretty popular would you pay an additional 10% for electricity to decrease your chance of characters. Yes or no boy you're asking right now others definitely be there recent event bias I would say yes right now. What you think your listeners said. I think they said. 62%. Cent average listener said no they were not an extra 10% to improve on a chance of a power outage but is that a realistic option. Is that the article very thought is realistic I mean 100% Eaton this and other parts of the country on the power lines buried yet here's the thing I made that's I'm glad you raised that I've lived in other parts of the country that had the lines buried in. We never lost power okay yeah the problem is you know place with expensive real estate which is what we have yet. In a place that goes back a couple hundred years or more as we have. The cost of doing an underground system on an existing system. Is astronomical. It was a loss and sent a percent trust me oh yeah I don't be talking about tripling your bill share or more in taking on debt but I think tempers as a good starting point as you Kantor's you know go all out and you know if I'm a financial I'm getting asked that question and saying forget that I'll take my 10% generator. Yeah generators a decent generator and you 5000 dollars plus a dialect and percent increase in perpetuity. You can get one for a 1002000 dollars that each grade did you spend the whole day putting gasoline and it you know dealt and on every 45 I like to get power outage but all star break is exactly what you gonna do couple hundred years just so what. Blanket or something what I get over it took over the open fire countless player each game of checkers but a lot but we we we like our house to not have. A fireplace. He and we have like. No because fireplace know all man it's so it's scary I mean let it went in the pops for nothing could go we bungle. You come up with a OK we'll go to the mall in the morning we'll go to a restaurant in the afternoon to go whatever but it. And on a Friday we couldn't go or restaurant as well OK at that nobody gets powered march. Yes so it all underwater it raises a lot of questions and this is gonna be an issue that we continue to deal with the New England because the cost of doing underground utilities. Use astronaut doesn't seem that it happened but I I sure would love to have a union to. If you work hard for the past twenty plus years and enjoy healthy savings counter and a solid position to enjoy later in life. Hey this is Mike Armstrong saving money for your retirement half the battle but making sure you leave it to the right people as the other half beneficiary designations are not an afterthought. While most people try not to think about what happens after they passed it's important to set a beneficiary is properly. To ensure you protect your wealth. My for in the Armstrong advisor group has a new guy 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 hiring a beneficiary designations at 800. 3934001. Again that's 80393. 4001. Or you can download it right now from our website Armstrong advisory dot com story's author of. Two 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. We have a strong economy and of course stock market's doing fantastic yet spring home sales could be the weakest in many years. Mike how does this add up I would think that this spring home sales will be booming. Yeah well I think I think the prices are going to be booming and they're a seller you're going to be in a pretty good spot would be my guess but you have a multitude of factors combining here. To make you know the number of homes that are going to be sold I think come down generally speaking that march to June timeframe accounts for 40% of annual home sales but here again via rising mortgage rates. Yeah you have decreased tax incentives to buy all right yet caps on the mortgage interest deduction yet caps on the total property tax deductions from your federal tax returned. And you just have theory lacking inventory. Prices are up so much there's varied little new housing coming onto the market. Were I a realist there realtor looking to. You know keep my business afloat might be a little bit concerned here. You know and you talk. Or pricing but in and there's obviously a huge shortage of properties and people need to place to live. But on the pricing side I think that could be some pressure there's nothing why because number one negative pressure negative pressure because. You've got as you said the reductions in the incentives for ownership from attacks perspective this tax bill. Effectively gives a married couple the benefit of already owning a three to 54000 dollar house like you get the benefit without needing it so there is say there is a reduction there it is a huge reduction of the high end which we talked about it ad nauseam. I'm in the other factor is as interest rates go higher as you said. On it becomes more difficult to finance. Which makes paying a high price even less attractive so. It's even a little bit concern on the pricing and it is the volume and we know is going to be simply a matter there's not much out there anyway. Right yeah I mean if volume issues obviously going to be known. I think that. A lot of people are gonna ignored the economic disincentives that now exist in our group. There's just days in jail built into our American. Homes I don't know if that's going to be real issue that. Coming up Renault Paula Monica from CNN money talking to us about the year. 5000 pound gorilla in the room Amazon. Brett back from financial exchange. To vote on our daily poll question had financial exchange showed dot com while you're mayor 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 the 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 if you're over sixty years old are preparing for retirement now's the time a difficult time let's tee 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 but reputable trusts are extremely popular to establish the kinds of protections we're talking about the 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 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. 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 the EPA. This is a program us. Fully approved by congress has been in existence about 45 years that 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 inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if. You're a 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 US VI EDA dot or ask US. VI EDA dot pork. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Brent take it easy round 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'll see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 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 snow Wednesday snow again Thursday's 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. 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 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 and a solid position to enjoy it later life this is chuck Solder 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 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 well 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 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 are strong advisory dot com sit. Results for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Security suffered through securities America each member finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated it's hard to dial a phone or send an email with too dumb but it's easy to text we've got and tech sign up and running when you can tell us what you think right now by texting us at 63566. The U skewered Barry and join our exclusive club this is the financial exchange radio network. This segment financial exchange brought she buys you rent your landlord take advantage you rent a fully automated online rent collection tool that is free for landlords and accounts of just being bank can always free for tenants. Now a collection of local banks are often this unique program including leader bank and stone sign up and have rent payments direct. Deposited directly into your account call 7816418691. Today or visit easy rent dot net. For more information member FDIC. We're joined now by Paula Monica from CNN money to tell us what area is left for Amazon to expand into I thought that they had already conquered the world apparently I was wrong but this might view last step. I thanks for coming on Paul. Thank you know a problem that is very ignorant report earlier this week catalyst or journals suggesting that Amazon is. Working with these servers burst into JPMorgan Chase Capital One among others to. You know develop checking accounts for an Avaya customers and potentially auger. You know financial service products as well Amazon did not comment to me give Morgan chase Capital One did not out. Any comment by yup that hasn't stopped people speculating about what next being in company yet you'll be consulting firm. They're estimating that Amazon could have seventy million banking customers. If they wind up going into these services to prevent the perspective it would make them about a large ball bark out. An athlete so I mean. I get I got the whole foods acquisition made sense to me I kind of get what they're doing in health care that also makes sense to me. Checking accounts are not high margin business now if they expanded into. I banking or financial advisory services or investments. I'd Maceo Acadia and as I can I can see where they're doing here but what's the where's the money being made on setting up a checking account. Yes that is agree. Great observation and I think the new machine. We've Amazon initially getting into financial services is. Not necessarily the you know having high margin business is chaotic sections. And but it's BP is that we're in the story you know could get divorced seamless relationship. With their customers that people act. Being companies do their report they noted that you know when you look at. Who the you know customers that they surveyed. That they would try in terms of attack company. You know having financial services run from them. The east side responsible won the trust Amazon and many of the younger customers you know when he worked for eighteen to 24. He's in college kids struggling to get a job after college some of them may be using more of that no cash. Shop it would debit cards to a paper things because there's the wearied of what happens you know their parents couple years ago and they Great Recession so that notion that meaty Amazon could keep them also an easier way to paper things. You know there could be some not credence. Paulus is John what you're what's your take on Amazon's decision to offer people on Medicaid. A 40% discount on prime memberships is striking was a rather cynical way of once again going after Wal-Mart. It's all respect I guess you could make that argument I think that Amazon cleared the house wants to demonstrate. You know to consumers called. Maybe it rained. You know a lot in many different parts of the the economic. Strapped. Thank you count on it not just something war Leo and middle class and and the wealthy in that they are willing to offer discounts. The people that needs have not been any financial resources and I think he could have that cynical argument that he adds another way to go after. The kind of BB stereotypical. Or and Wal-Mart customer requesting to have him all mark obviously fighting back. It's going after Amazon Jiri bought on acquisitions that are war you'll catered to you ideals and urban customers. Yeah I mean I was thinking or guessing if there's one segment that Amazon might have trouble attracting right now it's. You know lower income knocking it paid subscription the and maybe even democratic hard. Well the offer free champion count for a low balance customer you might have a pretty good solution does does Wal-Mart respondents say if you have a BMW or Lexus will give you 10% ownership and yet the Imus terroristic threats. Well it is interest stories since they were talking about where Amazon's gonna go next just about every week pol will have you on next and they had to make another one of these announcements appreciate it there's no doubt heard. If it. So I mean pretty crazy. I know it's not crazy I know it's not crazy which we should expect you know we should look at every single sector of the economy and say. How is Amazon going to play a role in this sector. Next we've already tackle health care we tackled. Food we tackled banking now let me ask you this might we were talking about furniture wrist yesterday do you think way fares a candidate to be bought by hands on. Why they don't need a Needham why rolled right over they can be a partner. And they can make Amazon can imminent but have them on the website them and make that defeat. Based and everything that sent their way that's kind of Amazon's mobile one matches absorb them. And I don't think they need technology I don't I don't think that way fare has and the any technology and games on could not easily replicate changes crushed their estimates by another Amazon came out there'll line of furniture to Bob Rivet and yes don't and some open I don't know. Little little pricey. But stole it it's a step in the right direction in terms of furniture offerings is the only competition there's the the only competitive advantage can think that we fear might have at this point it is the network. Dues that they have their buyer group today and employ high end zone camera. I would be concerned if our sway fear about tomorrow like Berkshire Hathaway which dwarfs stand by for the largest furniture company in the United States including. A small presence would Jordan's here in our backyard but all over the country. Young has nothing to stop Warren Buffett to say we want to just crush you. And do this overnight with scale that would just be able to demolish them so I'm not sure there's a whole lot proprietary we've fixed it real well but you know this gonna competition. Yeah yeah I am very well could be the the banking peace is very very uninteresting to me because when you have someone's bank account you learn to me they already know so much about their customers. From you know what they're searching times on the website if you also have their banking information how much more information you going to be able to garner and really Taylor. You know sales to that customer knowing OK I know your Internet search history and I know exactly where you're spending no question about that. Thanks soliciting. Have a great weekend this is John Moody along with Mike Armstrong and to pursue we're gonna have a great one. This is the financial exchange radio network.
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