Full Show 9 - 19 - 17

Full Show 9 - 19 - 17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you'll soon be your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the very Armstrong and chuck Exxon. Not everybody has benefited from all for a low interest rates. Lifelong savers and CD buyers have had there income reduced by the Fed's low interest rate policy. And now ladies and gentlemen rubber hits the road in the head is about to embark. On the great unwinding hi everybody it's Varian chuck and we're gonna learn more details during the course of this week chuck but. Federal Reserve has acquired I think what about foreign half trillion dollars worth the US treasuries in corporate bonds. Yet they've got pretty close to right now taking a look at where we stand as of this week it's four point 45 trillion dollars in assets that they that they have at this point. This is up from in unprecedented by the way there yet this is up if you look at go back to 2008 OK so pre financial crisis. You go back to 2008 the federal room. Federal Reserve's balance sheet. About 893. Billion dollars so we have effectively. Queen toppled the size of the Fed's Balch and how to they buy like what money do they used to state. You know the Fed can print money so they just use they're printing press to it to by the east. Effectively SEE you can go into the mechanics if you wanna doesn't do the average person a whole lot of good but pretty much what they are doing is they are going out and they are buying. Government bonds or mortgage backed securities and they are. Paying people with BO proceeds with Federal Reserve. Money and so backed up by the US government exactly so what it does is it introduces more money out into the money supply. And in doing so would also brings down rates because they're buying up bonds they're creating artificial demand for those bonds and so lowers rates it gets more money out into the economy and they did that to stabilize the market. Back in 2008910. What they did they they did it to stabilize asset prices and this is something that I think is critical is it something that I think also lends itself to you know understanding a little bit about why we are where we are today. In putting it in lowering interest rates and also buying up all these assets what they've done is they've rewarded people who own house speaker as either a they're buying them up in the price of them are going out let's define Natalie. Who's that let's take the winners and the losers from this policy the winners obviously anybody bought stocks right if you bought stocks you know if you bought property real state. Look at even if you own treasuries over this time because interest rates came down the value of bonds want yeah OK and so if you owned. Really any kind of pass other than tax other the cash. You made up pretty well. If you didn't known anything if you're one of the 47% of people who doesn't own any stocks if you're one of the I heard only 5% of priest 3536%. Of people does know a whole picture. You didn't make out too well because that the value of all those other assets went up. Your income didn't. Hearing some pretty much stayed the exact same and that is. A very clear path to how we got to the kind of country that we have now. We have really a very clearly defined haves and have enough so did they create a bubble inadvertently. By doing this I don't think it was inadvertently they're trying to now. Now they're at a bigger trying to create a bubble I think they're trying to stabilize the market at the time which were. Headed towards climate they were trying to stabilize us nobody is buying. Unity you couldn't sell a triple A rated corporate bond back in 2000. Known people you know there's so much the year. Right now the beer has subsided and the Fed has this massive balance sheet. A lot of people say how the ever gone on line this massive balance sheet my answer to you. Would be if you have a balloon right you don't wanna pop that with him. With the air out of that balloon ever so slow. And you take a look at how long it took for the Fed to build this balance sheet up because did it all happened just right in 2009 the Fed bought a horn of mortgage backed securities right when the crisis struck in late await in in early 09 at the ballot she went from around just under a trillion dollars up to just north of two trojans they bought about a trillion dollars in assets. Pretty much overnight in a span of about six months as QE1. But then make no that would that was pre Q week he has this very few this was literally just to stabilize the market is no one was buying and yes I remember. You've been had in 2010. Was QE1 now the Fed balance she went from about two trillion up to about 2.3 stay about about 300 billion dollars now drop in the bucket. QE2 that happened 2011 bouncy went from 2.3 upped two point nine showcases. Exile although it and all the while. I'll remember folks the stock market rally. Break is the bottom of the stock market was march of 2009. So since you know it during this for. Process. People who force saw the future said. Well if I just if the if he just invested in stocks and almost didn't matter if you bought the indexes dipped you do fine. Take a look at and when he eleven between twelve they'll market didn't do a whole lot what's the Fed do 12013 fed starts QE3 which really was Q we unlimited it's Howell we're just gonna keep buying until we. Decide that we've done enough then the Fed balance sheet then went from two point eight trillion dollars up to four point five. They bought one point seven trillion dollars. In government bonds and mortgage backed securities that's where we stand that it taper the end of 2014 up and they pretty much held the line since. They haven't sold off they have not so what they have to tell us as they're soft like. Will they would is that does the Fed have the responsibility to congress or the president. Where. A year from now. They have to say oh by the way during the last year we sold 500 billion dollar for the they're gonna tell you what they're doing anyway it whether I transparent they they're not required to legislatively. To do anything along those lines the required though to report what's happening on the balance sheet NC gonna see it either way. They're going to be transparent about it because they don't wanna spook markets but I'm guessing chuck they're gonna do very slow rate is there any is there any rush. Because that's what I think people are fearful they fumbled if I'm an owner stock let's say you have a lot of money invested in the stock short you pricing yourself well. G pasty you know. It'll let the market went up to sit there saying don't end the party too soon you know it's well it and is it time to get out of the party and you know is it time to leave me because stocks have rally you look at where. The Dow was in march of 20096. Or 700. Okay so we're more than triple. Debra you're you're closing in on quadruple. You know you're you're getting to that point. Can I say bubble wish us well and and here's here's. Where I was going with this so it took the the Fed six years to expand their Chia. They're not gonna get back down at six nobody's there rushed for them to get back to me just other duties printing money so. Could they say they. Do we does it affect us if they take let's just say hypothetically they take fifty years unwind this position here's the rush that I think they feel. Is I'm curious what they do it is right now. If there were any other if if there were another recession. They don't have a whole lot of ammunition. They don't have a whole lot they why do they can't print more money we you can oil lower rates so far right okay and beyond that. I don't turn lowering the rates worked at all any it is like in retrospect do you when you look back at these low rates. That would aid it really do. Will low rates remember they they don't create activity on the role they encourage borrowing because they make projects that previously would have been on affordable high rates in affordable now. But would I tax policy been a better regulator 100% right if you'd like that rather than. Because their thoughts and around with this interest rate and the Fed's programs. You know when you have a bad economy and our economy to recordings you do you lower taxes do infrastructure spending right. In did you not you know we do a whole lot of I don't think we did that did you know if you're supposed to have infrastructure spending no nine we all remember what was big egg AR RA. And unfortunately. While that money ended up not necessarily going to infrastructure. And so. From my perspective when when the Fed talks about lowering rates from all of those changes asset prices doesn't change the underlying conditions and until you affect those conditions which you can do better with tax policy and spending policy very. You'd do shuffle in the doctor's note do and while though the losers and we've talked about who the winners for right if you own a home you want if you own stocks your big winner the losers. You know who I think lost a lot were the aged retirees. That head habitually. Kept two or 300000 dollars in the bank. Earning 5% interest on that and living off theater bucks a month and through that and it went from 800 dollars a month to eighty dollars a month. Days you CD buyers got destroyed by this and and just you know some of them ventured out and perhaps blot. You know this dividend paying stocks and things like that but most don't you know like if you're. Bank CD by her and we you and I both that the more over the year frank yup a lot of people just are gonna change their habits. They're not but you have to immediacy you you have to adapt. Or you run into problems that's that's the nature of the beast unfortunately and it's no different from. The reason those people a lot of those people bought CD's to begin with but because they adapted they said look I don't trust the stock market because I live to us all my family lived through depression I don't wanna go through that again so they adapted they said look I'm not gonna do that again. Well times change you have to adapt yet again and it's tough to wind no. But that's that's just kind of how things work and it would with the economy it's always have to be willing to adapt. Speaking of adapting. All of our car he bought by new car it is loaded with technology some of which you might use other parts you might say when is this and why do I haven't. Well we're going to be talking in the next segment with Chester Dawson from the Wall Street Journal about the dangers. Of hackable car you've got technology in the vehicle you're driving in today. That a hacker might be able to access. To talk about that when we return to the financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that are right here with Berrian jock on the financial exchange radioed them. Work. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state hi this is very Armstrong and if you're in need of state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and at 8668485699. And ask for their brand new guide called back to the basics lets host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of Cushing and dole has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Who's a vice president at leader bank and we're talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to the young couple hours just somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling men are a couple things one be patient. Yes you know we we see a lot of first time homebuyers who are making five and fifteen offers two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half do. Paying more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns rooted in. Considered first because. You know it's very compact can afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes who we are really excited about this product we just launched it is called leaders thirty. And essentially what it is is that fixed rate loan from where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest repayments by one person that's very helpful offer because when it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bot. A hole in when I've refinance my properties have always use leader bank near terrific bank you can call them told free. At 8776917. B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank back on. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and members finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Polling here on the financial exchange radio network. Yeah. In your car be hacked. Sick chances are probably. Joining us now to dig into that topic is Chester Dawson from the Wall Street Journal just to thank you join us. I just the the first question that I have is what is the threat is this just for new cars what what exactly is that the scope and scale of the threat out there. Well it depends dump for the very latest cars are increasingly being built with internal modems or things like Wi-Fi hotspots Bluetooth. On any one of these access point could provide an opening for hackers obviously you're driving you know 1950. Ford Thunderbird. You don't have that issues of the older analog cars are not wait digital and yet be penetrated but but he but vehicles built into the mid nineties. If you get some after market. Devices on it and you can even make those accessible. What kind of security is out there on vehicles today is that are are there any standards or anything that's required on these systems. To prevent hacking. Sure I mean that auto makers our line to our installed various layers of security. But the problem is just like with more on that laptop computers. You know your there's there's there's inevitable that there there's innumerable ways that hackers can try to Hogan bought it at a trade. Oh yeah auto makers and and cyber security firms. Are you know then they'll try to go out poke and prod to find these holes but it's an ongoing thing if there are a dumb thing where you know you've just got to. But a lot and on and early needed it's a cat and mouse game with the bad. Do we have any idea how much of all the auto makers R&D budgets are spent on security for these things are out of their procurement budget to the just buying from someone else. Well they are being buried. Guarded about I don't know whether there aren't ready. Aren't spending as much as you know maybe we'd like them to war at archer matter. You know that. Generally speaking the auto makers have not interpret or coming when I was reporting outside of the story I wrote. I found down you know even with things that they're up in a year ago ask I was selling I didn't get much of response so. I think at least part of that is that you auto makers this book not the other way around I've heard from somebody is specials that. They're behind the curve and try to make up for lost ground which may be one reason why they're not being bombed terribly open about things like how much spanning. And that but we do know that they are hiring more cyber security personnel. And it's definitely something that's become a much higher birdie and was even more by yours ago. What about legislation Eddie Eddie the state or federal level is there anything that is being proposed as far as uniform standards for security on these vehicles. Yeah that's a good thing down what you brought that up. Some legislation that just a house and now it and it. Which yeah it is primarily to. Recurrence world of self driving vehicles. And that bill there are specific provisions on cyber security. Which basically and its auto makers to couple things first though they got to hire that it needed. Active who's quite oversee server security. And secondly they're going to need to do everything they can't picture of the products they sell are up to date with the latest software. So on its. At stake that it doesn't spell out that this city exactly what they need to do but basically. It puts them on notice that you know but we're not going to be forgiven and expect your selling these great you know hyper connected cars of all these cool features. Other also going to be very aware that the central. Or those being hacked or at least. Providing gateways for actors it and. We know that would these kind of issues news cyber security and so force. Most people don't typically pay attention until something goes wrong I'll use the recent Equifax tack. As an example most people have no idea how that industry worked most people didn't hear about it. Until this recent breach. Is this going to be something where no one cares until we see something major happened from an auto mode from an automobile being hacked. You know I I hate to. They had but I I think probably right I mean you know for every. Industry executive arm auto maker right you know executive I spoke to said don't worry we better control. I spoke to someone in the cyber security world is that these guys you know. Have got to arm and really make up for a lot of lost time and that in fact it's. Probably almost inevitable that there is going to be some big incidents where you know. Somebody. Discovers a me a warm bowl and just like you know these. I viruses we've seen spread through personal computers that it's going and our doubts. You know. A car or series of course Caribbean entire fleet and I've got to say that. You know necessarily mean I'm gonna take over the during will work. Slam on the brakes when you're going you know soured on the highway could be more a nuisance than where they the music. You know file uploaded suddenly disappear or maybe your rearview camera stops working but that's about it but even though is. You know knowledgeable the CEO of Tesla. Electric car manufacturer said that he thinks it's a very real possible in the future that you might have we white act. And that's something that you know should be keep the crux of the night. Good Chester thank you very much for the time. Thank you. Chester Dawson from the Wall Street Journal talking about the dangers of hacking in automobile cleaver is good for me you're you that's the great fear. That people have driving these advanced cars or matching your driving in an autonomous car right in somebody hacks and from China Russia. Oregon whoever you know who knows that right he can't track and the all the sudden take over control of your car. Yeah and in that there are ways that you can build systems. That. Have greater levels of security but in order to do so you may also after deuce the features that you're trying to put out there. You know it could be something where pave the the import needs to actually com. From someone in the vehicle but maybe there's ways that you can spoof it and things like that social figure dashboard and are you a year everything's electronic right in terms of you know do you wanna talk on your Bluetooth do you want audio. Do you want directions. There's so much information technology in these cars they about the number of computer chip I get red. The number of computer chips and a cart today it's like 700. And about a new car you buy 2017 model. It's like 700 computer chips and it eagle back I don't know thirty years they're probably six. Yeah and again it's it's. Similar to what we see with the Equifax breaches their ways that you can lower cost OK in their ways that you can try to make your system more efficient from. The cost of doing so as you might give things up from a security perspective. It's one thing it's bad enough when it happens with the data breach like the Equifax and where everyone asks scramble and say okay need to protect my personal information. It's another you're talking about a moving vehicle that potentially kill you knew that the driver the occupants or someone outside of the vehicle you know it. There are some very real questions that we have to answer there. And I do worry that auto makers are taking that threat seriously enough just because they wanna push forward with the most robust technology they can't well and that. You know what you bring up raises the question. Do you want to subsidize or do you want some bad work out to companies like Google who's better equipped right Alexei. And auto makers are built they're not technology companies in out for him for cyber security wears a company like Google I would like to think he has. You would hope so you know doing great so who was the other one in Cambridge that we interviewed. The economy new economy you know even them I don't know if there execute they're not security focus necessarily now. Toys 'R' Us once a category killers going bankrupt what does that mean to you. We'll have that story and more when Weaver picked returned to the financial exchange for you know. Making your Smartphone even smarter. Download no mobile lab by surgeons financial exchange shelf in iTunes or those who. Good place stores this is the financial exchange radio network. 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Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a poor they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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Member FDIC it's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means of faster closing call lead 776917900. That's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a. Time now for mostly watch a look at the market's performance so far today until Berrian jog right here on the financial exchange radio network. We're joined by Mike Armstrong for Wall Street watch Michael. So us circle back to Equifax obviously we've been talking about for the last couple weeks here. But some news coming out overnight on the Mike you there. We got to make what I don't know if that tax. So they reported in other data breach that happened all the way back in March this is you know up to two months before the larger breeze they announced just on September 7. We'll see what becomes a desert of this you know I think it probably at will be fueled the fire on the and the divisional issue us sucked down. Nearly 2% on this and since September 7 the stock is down 34%. Price. What's going on with the Al Walgreens and Rite Aid and no rated sets an acquisition rumors for awhile now what's the latest there. Yes so initially Walgreens is looking to take over all of Rite Aid stores close them down and average build a leaner beasts and it looks like that's not gonna happen anymore Walgreen has now closed in on about how. Half the Rite Aid stores. For price of four point 375 billion that'll make Walgreens the largest firms to change in the country. Not a stock is particularly happy about this today at Walgreens is down about 2% rated a or 10% they are concerned about what they're gonna do with these other. How their stores that are staying open in going to be operating. Very good Mike thanks for the time. Mike Armstrong with Wall Street watch so Toys 'R' Us. Forced into bankruptcy. And I doesn't mean their story. No it it does not Toys 'R' Us is now filing for bankruptcy here. They operate 16100 stores around the world. They are going to try to simply restructure through this process that you Chapter Eleven allows them to do so on elders killed that it is not a liquidations and not trying to shatter everything. But they are going to. Try to restructure during this time their likely can be closing some stores trying to clean up their debt structure which is just to complete mess at the moment. On pregnant nineteen cents on the deal. Yeah I mean it's it it's how did you not figure that he if you go back a month right. This debt was trading close to par today it's trading at nineteen cents someone messed up that's. Again don't get that. You know I I can't tell you why people were valuing it differently. And but clearly this can be a different company that comes out of the restructuring. And I wonder if there is still there they're still market bird for a company like this on the retail side. I don't think it's anywhere near the sides and you know you I wouldn't be surprised they try to shed. 511100 stores. Like why do you. I guess she gold to Toys 'R' Us store to windows shop. But I still think they probably suffer from the on line fifty traded isn't this just another retailer there's been twenty retailers. This year. That it. Either gone bankrupt. The news it and that's just since January it it would seem to me that they don't have anything unique that gets people into stores necessarily. And the question that's got some kind of the best buy survive though greatly best buy has somehow figured out what the secret sauces. And they are getting people into the story but then you go you look at another company like Dick's Sporting Goods or some of these other retailers are just dying on the vine. Bought an even with best buy it still has been somewhat of a mixed bag it's it's not all systems go for than they've moved in fits and start you know. And I still have questions about best buy in the long dia. With Toys 'R' Us its book what what is going to get people into. Those stores with the with the kind of the things that people buy their you know the average purchase isn't huge not talking about something like that TV you know but you know that I've just thinking now's a grandparent I would ago. Because a little bit detached and like I don't know kids are playing with today so I don't like a buy toys for my. You know my granddaughters. When I don't know. With kids are doing so the question is do you need a 40000 square foot store to do better can you do with ten. In and that's where I think they're gonna fall as. Hey maybe we don't need quite the square footage that we have today and just because it's a different market than it used to be. Everything's taken over. Mean it think about like that it's just easier all it is but keep in mind you know if you go back you know hundred and hundred years or so and you know I'm sure that all the open air markets are saying gee was ever wanna shop indoors and in wrestling and all this is how we're always in LA could spur you're always in transition and the transition that we're seeing now is wrong. You traditional mall based shopping towards online and that's that's where things are going to go. Historically folks Americans have bought a home by their early thirties I don't know how old you were when you buy your first told. But today's millennial holes. Are playing a waiting game because they are saddled with so much debt as a matter fact chuck. Sounds like they're waiting several years before they're able to buy a home compared with previous generations. Yet and what you're seeing is that according to the study student debt is delaying millennial homeownership by up to seven years seven in a lot of cases here in part of it. Look you've got that student loan burden of you know one point four trillion dollars outstanding at the moment. I think another aspect though as you guys came out. In a very bad economy the worst and you know leading the U look at. The you know the job market when used first started now now it's vastly improved I don't think you have that excuse anymore. But you know you go back ten years my gosh no and in just about every study out there shows that if you come out during a bad job market on average dipped. You don't had to make as much people commander good want did you know that for intent. If your first time home buyer for intend first time home buyers still have some student loan debt left yet. Death and my son when he body associates did and it's. It it certainly affects the is it affects you on two levels the first is obviously that cash flow that lack of cash flow something that. Makes it more difficult for you to build up enough for the down payment we talked about that before we've we've we've gone into depth on that. But the I think that is what it affects how much you're able to borrow it affects how much. A bank were actually Wendy and in some cases. If you know you have three to 400 dollars in student debt per month in your spouse has three to 400 dollars in student debt per month in their servicing. All the Sony's then say look that's like 75800 bucks that we can't spend. On home and we might get outbid because. You know I'm still getting questions as a relates to credit freeze that coming in on our text line which is 68680. They're coming in on my FaceBook page and am getting them on email. And to save this analysts say at one time. On our blog. There is a detailed. Manual. On how and why you should freeze your credit. And I'm gonna give you another lecture on freezing your credit and if you want to know how to freeze your credit. And if you want to know why I believe you should preacher credit go to financial exchange showed dot com. It's right on the blog right on the center the web site. He gives you how and why of freezing your credit that's the only title say it financial exchange showed a com. I've been doing business with leader bank for years because are always coming up with a great deals and they've got another one that you surely worth your time to check out. Leader bank is offering and east savings account providing free online banking with a one point 15%. Annual percentage yield. This is an online product only. And no minimum balance is required so log on to leader bank dot com and sign up today. This rate may change without notice that no delay. Log on to leader bank dot com get all the information about this great offer and sign up today before the rates change. Get free online banking with leader bank's new east savings account that has a one point 15%. Annual percentage yield and no mineral balance and remember this product is only available online so log on to leader bank dot com right now that's leader bank. Dot com leader bank a step ahead member FTSE no minimum balance these may reduce earnings rates subject to change without notice and can change after an account is open. You remember the story about Valiante valley it was a Canadian pharmaceutical company. That had a lot of problems. Will now they shortsighted way of putting it that. It I don't wanna get too much for stocks got for 236 dollars down to thirteen dollars over the last two years now and and some people made a lot of money on to. Lot of people lost money yet but a lot of people. May but there's a short seller. His name is injury left the Nazis Citron research. And he has identified. His next victim he thinks that this company were about to talk to is also he called them fraud district CNBC. He did an end it's it's a pretty bold statement for the company to company is a firm called ubiquity. Okay and the the ticker on them just pulling it up right now. Is UB and T. And upon him coming out and call this company fraud the stock was down about 10%. Just over the course of the day. Ubiquity is about four billion dollar company and what they do is they are. A performance networking companies and they they their their networking hardware. And pretty much she came out and said look none of the numbers make sense on this company he said. I'm calling this company of fraud the guy the the CEO owns part of the Memphis Chris strains trying to buy more trying to take majority stake in the grizzlies. And the CEO got into some beef with Citron research on Twitter now with the CEO Robert. Well I know nothing about the company but this is going to be a battle that's interesting to watch and clearly it's gonna be done very pop well and remember. Andrew left from Sinatra that's the auto the caller private equity firm hedge fund. He's got that short position already taken so it's in his best interest he made money. After he went on CNBC. He need a lot of money in the stock went on and for the record on. On valiant. Here's a percent right. Well yeah but he he's been wrong and also to hear absolutely you know they do the good thing I wanna point out was. There is a big short position member the company Lumber Liquidators yes one that turned out to be bogus regulars you'd be the accusations being made that the company. You know all the executives lost their jobs news the news there's there's there's some legitimacy to some but it was indeed it was no. Would tends to happen is the short sellers folks what they do is. The because they've got skin in the game I mean eight. You know we always think about long positions do assay allowed GM might go because of this or Bank of America might be a lot because of interest rates rise. Remember short seller. Their only interest is to have that stock go down in die either options to that effect they borrowed the stock but regardless. They want that stock to go down in this case it's UB would be networks. That he wants to go down he makes money yea lord knows how much money may. Going it is can you tell that stock is down today or not it's pretty much flat today OK so. You may have other. People were long the stock that are going out buying more of. Yeah this is going to be one of those very public battles where you can probably tune in every couple weeks on CNBC and see them going out it. Just kind of arguing that case it all comes out in the earnings that doesn't it you you can't run from the numbers generate it EA recording an issue a report. They speaking a reports Erica dutrow. From Zacks will be joining us in the next segment for stock talk to stocks to talk about next from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center it past the enemy here. Keep it here with Barry in check for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio that. Work planning for retirement can be complicated process and I'd like to help make it easier this is very Armstrong from the Armstrong advisory group and if you've been saving money through and higher rate you should know that once you turn seven and a half who are require. Choir to start drawing from that account but how much should you take and where should you take affront if you don't take the required minimum you'll be subjected to a huge penalty call my office at 803934001. Get my brand new free guide and learn all about RA MD's call 803934. Zeros or one to get this free guide and if you'd like we can also set up a free no obligation consultation to review your investment strategy call 803934001. For our new guide about required minimum distributions or you can download it from our website financial exchange show 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've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. And taught I wanted to talk to you about the east trusts. Do you in that need to create trust if you already have a will get that question alike unite very irony trust I've got a will. You know sometimes talking about the basics is most important and in your right and people are so confused that commands say. I have a will lies they plan is done. And it's really not folks and and and and the reason is once you ask yourself that question so if you just have a will just ask yourself this do you wanna avoid probate. Well the answer is yes will not doing yes atlas you don't own house you own nothing if you're poor you. Will probably some places it could designate had no assets make sure you put like designated beneficiaries on your bank account your brokerage accounts. And you don't and trusts or are people that have passed greatly real property. Got money in brokerage account. Piece of rules that immediate two pieces. I think that's fair I think that the safe thing to do it if you if you want an ill will as the wall as it won't avoid probate it won't reduce estate taxes you're right if you don't have. Anything you know the only need a million masks to have an estate tax though we won't reduce your state tax there won't avoid pro but it won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that it will will do. I think the answer to the question is yeah I think you need more. There will most of the time time to get back to the basics folks call Cushing handle and get their guide about basics of estate planning. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com that's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges live on FaceBook and YouTube watch Barry in show and discuss the issues of the day and see which one smiles the most. Today's is that financial exchange radio network. Time for stock talk. Whip Eric dutrow from Zacks Eric thank you very much for joining us today. I Erica I know we've got a couple of companies actually couple ETFs I believed to go through one of them at least the first company Owens Corning is that the one we're going to be discussing. Yes or get when he TSA and one stop and they are actually both in the same area of building and construction OK I like both for the same reason and that's because. We're clearly at the end of our good luck in terms of affording big hurricanes so I think that's gonna create a lot of demand for new building and construction. And then also we're seeing a lot of good numbers are the heart housing starts. And new permits as well sort thinkers a lot of good trends in the space right now. And Owens Corning is definitely wanna the stocks that likened the Syria it has eight Zacks rank number one strong buy right now so I think there's a lot to like about the state. What what makes them stand out in particular what about their business deal like. So in particular they have a very strong presence in the roofing segment. And in particular pair of repair and remodeling segment that accounts for about 80% of everything and roofing is their highest mark in business. Our 23%. Ebitda as a percentage of sales. And this is the largest business they'd have our revenues so they're tilted towards their higher margin business and as we're seeing with more hurricanes it's gonna create more demand for. New roofing repair and remodeling and that's just really deduce for Owens Corning. Is this a company that even stripping out the recent hurricanes you still like over the next couple years. Definitely and this is actually one that I I got forty. The portfolio I run surprise straighter back before their earnings so this was before these hurricanes really hit. Facing a lot of good trance they're really shifting more torched entire merchant businesses and they're also have a nice international presence to I think this will really come into play. As some the other markets out there start to pick up steam. Let's go talk about the ETF now the powershares dynamic building and construction ETF. You mentioned that's in this sector does that any particular focus though. Not really any particular focus it does have Owens Corning in its portfolio. But it does have thirty stocks in total. Most of them are small and mid cap names but home building accounts for about a quarter of the portfolio widget building products. Home improvement retail so there are names like Home Depot and Lowe's. We get a wide variety companies if you don't wanna pick just one in the building the church or. Does it tend to because of the presence of homebuilders is it more focused on the residential construction and commercial or industrial or is it nice balance. I think it's a nice balance I mean you are gonna get a little bit more in the residential side just because you do have names like The Home Depot and lows and some of those home improvement retail. Players out there but. He does have a nice balance if you look at it does have forced products industrial machinery some renewable electricity and then there's well also. A pretty nice spells but maybe a slight tilt towards the residential side. What's the expense. On ETF there. So it is a about point 63% a year and that is largely because it doesn't follow a regular index if you will. It's false won it looks at things like price momentum earnings management action value so. It is a little bit more active if you will then traditional text but it has beaten. The the larger index added it's trying to all of for the last five years I think it is one of those cases where and will put more Mikey worked. Does either Owens Corning or this ETF. Generate anything significant as far as dividends or income. I mean a little bit but that's really in my opinion at least not then the main reason to buy either want to I think it's really more that they a growth story in terms of you know what's gonna happen in in this market not just in the near term but over the next couple years well. Very good Eric thank you very much for the time. I Eric de term from Zacks talking about Owens Corning with a ticker OC and then we also have the powershares dynamic building and construction ETF. That has the ticker PKB. He raises some good points when you think about the damage that was done in Houston. The damage that was done in Florida the damage it's about to be done in sync foray in in Puerto Rico. And vote. Tens if not hundreds of billions of dollars. It's gonna be spent on infrastructure now like I'm including people's homes people's roofs people's cars or. But the big damage I think be the early estimates were what about a 150 billion between. Houston and Florida in that ball parks of the question that I have so Owens Corning since the first hurricane Harvey hit back Ian late August early September. The stock is rally to belts. 11%. OK how much more Joost is there left exactly so that you market cap it at about a billion dollars in market deposits dilation. It's it's not crazy in this market PE ratio is about 21 so it's a little steep but it's not notes with the way this market is in the S&P PE right now is like 26 it's a matter how they can grow their revenue. It is. You know and an overall the nice thing about Owens Corning easy take a look at them over the last couple years. They've started to show that they're grown revenue little bit the margins have widened in the last couple years two's they've done a better job of being a little bit more efficient as far as. Hey we're not spending as much on our revenue. Works out well. With our eight. Well when we come back we'll take a look at what the markets are doing and then we have a report of a new casino. Opening in Connecticut but I think it's just hogwash we'll talk about it anyway you're listening to the financial exchange with Berrian chuck. This is very Armstrong from the financial exchange did you know that once you turn seventy and a half you are record. Juries are for two securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. 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Subject to credit approval bank a step ahead hi this is with an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's have been helping families like with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to create an estate plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now at 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your years 86684856. This is the financial exchange with Barry Armstrong and chunks of us. You're exclusive look at business and financial news affecting your day you're sick leave your world and stay informed and up today about an economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck saga. You know there's an old saying that housing follows the stock market when the stock market does well people tend to spend money on housing. Yet we have not seen a boom in home construction hi everybody it's very truck what you hear on 8 Tuesday morning. A building permits and housing starts data. Starts are bad permits or go yeah this is it it's been a couple disappointing months now. On the on the housing starts stated just has not been as strong as we want to see. Permits way up though mocha wonder if some of that is due to op permits and yeah some of the areas that were hit by hurricanes and so forth I don't know if they're getting. Things back up and running there and just trying to you know get some new construction going. Permits coming in at one point three million. I'd like to see that number in the long run stabilize somewhere around one point four to one point 52 we're getting closer there. So good sign up permits permits do tend to lead the way obviously need a permit in order to build. Please put how the natural disasters in Florida. And in Houston Texas could you probably not pulling in new permanent break when year. So say you're rebuilding a house and things yet but the amount of money that's going to be spent in those two locations. I don't know where the where the line is in terms of when you need to pull completely new building. I don't know if I do well we'll track it NC. But they were they might need some new permits that would be in Bridgeport. Connecticut the developers. Of MGM Bridgeport. Are promising to create at least 2000 permanent jobs in an annual tax revenue stream. A 360. Million dollars for the cash strapped state. Upon completion of law hotel casino and shopping center in a boardwalk in a marina. I don't know if it's gonna do a whole lot for them. And he'll ever happen you'll see you think it happens is all ended reason I don't think it'll happen is if Connecticut were to permit this. They would lose all the slot revenue for Mohegan Sun and fox will it end that was going to be my question is at the end of the day aren't they just kind of moving things from one part of the state to the other anyways it's like the argument in favor. It would be you grab a lot of that New York has Bridgeport is a lot closer. Then if an up and and then division sun and foxwoods the other thing you would get. Easy get people coming out by trade. Indeed converged portrait of a train line Mohegan Sun is not and neither fox. Yes so Agassi maybe get a little bit more that New York money that goes in there to get along his I do think that those other Connecticut casinos are going to be dropped dramatically affected by the two that are opening in maps. Yeah but I think between Springfield and ever. I think they're gonna take a huge bite out of what goes down to Connecticut yeah no I agree our I've been in those parking lots a lot. Lot of Massachusetts please yes there are concerned and you think that the Everett casino will compete in nicely with the they are hitting it well he sounds pretty nice doesn't mat in the when you look at their names out there ready. The proximity and also the name wind is the best in the business is best in class for casinos like you talk about like top end that's what you're getting there. And all I know is when I was fresh out of college I was going down the fox would probably 23 times a month and if there had been an option. Ian Boston for me to go to a given their all time in order driven two hours just for no reason. Unity the it's it's water under the bridge but the social ramifications. The casino in Springfield and casino in Boston are going to be devastating anytime you look at the yup what happens to the city's. After you have a casino about five years ten years. It Boston you're gonna be seal a big change in the city in his pocket before the better. Yeah I mean I think you Boston's a big enough city that. I don't know of one casino was going to have a dramatic impact on the overall city Lotta problem gamblers I think the surrounding area. Could have some issues there but I think overall. Again I don't think it's going to you'd do a whole lot is because you know fox was again it's it's two hours away this don't stop me from going. No I understand but you look at the statistics and if you read. While Wynn Resorts if you read their annual report. The way they make their money. Is off of people that live within 510 miles of the casino don't have a gambling addiction that that's where their strove Mario misery and day it's just. That's a fact pleasing element make of that stuff up it's just the way it runs. I'm military spending would billions. For the state of Connecticut wins senate approval there be building a lot of submarines in new. And in Connecticut. Yet this is the passage of the national defense authorization act. It was approved by the house in July and it appears to have senate backing as of yesterday. And so couple slightly slight differences between the two versions city gonna have to have. On a conference bill that put together just so one bill can be sent off to the president. But it does appear that you are going to be having. That's six point four billion dollars for Virginia class submarines that are going to be built by electric boat right now. Connecticut those are gonna be sent down there. A lot of the work is done now also in Rhode Island yep what Rhode Island as well would still be of people living in both those states. Increased spending on non jet engines well see conceal a little bit of a ramp up there for Pratt Whitney. And Pratt and Whitney by the way is the sole engine maker for the F 35 fighter and so obviously. Getting further authorizations they're zooming 94 of those that are in this bill and and so that's good news for Pratt. Whitney and our and then more news a company leaving Rhode Island at least. Relocating their retail headquarters from Rhode Island to Westwood Massachusetts at Honeywell yeah Honeywell moving its headquarters from Rhode Island and it appears to be getting some kind of tax break from the state of Massachusetts here more welfare. And well I think in the in the case of GE I think it was money well spanking I'm curious to see well I usually back it appears he what kind of deal. Honeywell gets here's a gonna be three billion dollars like you know fox can't get now Wisconsin today but don't deal I looked at that Foxconn deal in Wisconsin don't deal. They are going to regret that yup generations. That's that is that is a generational. Colossal mistake is they're not real high in jobs and it's not it's not jobs like Amazon where their bacon. You know two under grand a year these are jobs. That are. Basically gave subsidizing. Unskilled manufacturing I have to imagine those jobs are probably pain will what do you think like fifteen to twenty bucks an hour at best in that ballpark best how the states basically paying. Anywhere from thirty to 40% of that wage yeah hoping that they get. Money back so now that sells its a bad deal. It's interested to see what Honeywell gets as far as the tax package will keep an eye on the net and no more 6% commission for realtors these real estate brokers will sell your house for a flat fee oh. That doesn't sound good both sounds good casual styles right and so excited trader on yet company called purple bricks and they're based out of London very successful in London. They launched over in in Los Angeles on Friday they raised that sixty million dollars in the stock offering in order to do so. And what they do is they say look we are going to charge you 3200 dollars. And in that B we're gonna give you professional photography virtual tour's staging help home two hours and listing on all platforms. And so pretty much it is a heavily discounted option. Four a lot of people who are looking. To sell their home today. You know if that sounds appealing on the surface. It does now that the point Woertz word. You kind of order about the execution if they can do the right price I wonder about the XQ shouldn't and the other thing is that for parts of the country it's actually an end up being more expensive you're trying to sell a house for no less than a 100000 dollars you know fear and you know parts of the world America it's actually more expensive free to go through this. Truckers are in no hurry to have their hours tracked well truckers. People working in the truck driving industry you're aware this that you're NAFTA go to electronic dog's beginning in December which means that when you guys get pulled over. Not so easy to fudge the numbers. Yeah this this is a tough one for me because I know a lot of truckers obviously. You know might be something where hey we need next fifteen minutes or an extra hour just to get to where we're going in. Yeah I don't want to do a book what's one hour at the end of today. And so I understand that but you're also talking about. A vehicle that has the potential cause massive damage to any other vehicle on the road. Now truckers generally I think you're incredibly competent I think that they tend to be some of the best drivers out that is the more defensive than your average drive for. But it's. At the end of a long shifts you might simply not have the response in the reflexes that you do with the beginning said shift and that's why these rules are being put in place in. In since 203 truckers have been limited to 1111. Hours of driving during a fourteen hour on duty stretched. Waiting at a loading dock or getting stuck in traffic counts deeds that time and that's tough and a lot of these guys are paid by the month. And especially you know one of the tough things is that again that time just waiting at a loading document doing and you know you units sitting there. Libya in behind the wheels saying okay and am looking out for stuff you know you're waiting. But the the the truckers he's kind of a mixed bag some of the truckers are very upset about this. And they think they're being treated unfairly. Other truckers though I think it and I I this thing about this logically. Would it tells me is that there's going to be demand for more drivers because they're going to be a lot alternately. Every driver conceivably is going to be allowed to drive less than they were. The month before and we are already knows that over the last twelve months truck drivers have seen the largest increase in wages out of any profession out there there about 6% whereas the national averages about the resell. I gotta lose and we gonna lose hours. You're gonna lose hours what's gonna happen it's gonna it's gonna raise the cost shipping. It's gonna raise the cost shipping how much and it's an increased demand for drivers yeah right you're so if you think it yeah I don't know what truckers are mechanized route 2223 bucks an hour. But if that's your Macon now. This should have an additional impact it underweight due to be year out mass and they were up to 25 bucks an hour and a very easily. Up inexorably talking about. ESPN does anybody watch ESPN who's under the age of thirty I don't know the answer to that but will be joined by Mike Shields from business insider to talk about what young people. Our viewing as opposed to ESPN that more from the financial exchange radio network. Markets continue to fluctuate but we'd John you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state hi this is very Armstrong and if you're in need of state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and at 8668485699. And ask for their brand new guide called back to the basics 8668485699. To get your free guide today the law firm of Cushing and Dolan has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. 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This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it fraud if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there'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 logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. ESPN has a great brand as a sports. Broadcaster. I'm not sure anybody watch and more. Yeah other start running some problems in here to talk about them is Mike Shields from business insider and Mike thank you become an all of us. Mike let's talk a little bit about ESPN and in particular. They're struggles on social media can you set the landscape as far as who the major players are today in the world of sports. I guess journalism and broadcasting in general. Yeah I mean I'm broadcasting. From there from from afar you can't looks like they're in incredible shape connect got they've got rights to all the big sport appropriate care after years and where were all the money is for the rest of the decade. But there he got a getting hit on people kept cutting cable or where young people not player for cable that's an ad that's great about on that this. This social media thing its orbit what do but the blind spot and you got up. Up we reported or about ten years but it really admitted made. A lot of a lot of leeway otter from levers there it is like you do it ESPN's numbers overall they're doing fine or is it where followers are. He's but plant like Brent a preacher parcel Archie seemingly better getting people would to a gain share steps to comment like things. And guts are. What in particular just ESPN struggle with on social media or are they not approaching it the same way how did they differ. I think it depends who you ask bill. Some some also some cute as a big media company that just doesn't get how people use social media. Order a scare there strategies different that they want people they want you social media send people back to their sites to their gains. Too wrapped that would make a lot of money and that's not great if a logical but. Yet to hear from you talked sort of booked a bleacher bar stool they don't they don't know how to it's be like young people like need native digital companies are hugely populated by. Heard it early steps are run by millennial younger folks and they speak a language ESPN com crosses. Corporate or cautious. If that's fair sort of I don't know but that's that's sort of what your. So one of the questions that I have been so if they're not connecting with the younger audience on social media. How much money is there actually on social media to be made as it would seem to me that ESPN is still making an awful lot. Through its traditional platforms even though they are losing market share. Yes I mean you're right right now it's if he's getting reps from a pure business decision to make sense that you get billion in Tahiti verses from Venus seven figures and social. Yeah that's right that the immediate revenue opportunities is not nearly as big television I think are sure time is due to start. Chipping away at you were strengthened by it by letting others get does those small or midsize deals for advertisers. And then. He sort of an immeasurable things what does that do your bank connection. You're brand here and you were and and the different sports that you. You rely on when your friends are talking about sports. On other property not ignore. Is this another sign that ESPN may have gotten a little bit too fat and happy in terms of not adapting to some of the newer technologies out there we know they're a little bit behind the game as far as streaming goes I know they have a product they're working on. For next year and in between nineteen but it seems to me that. They they haven't really tried to adapt as much and haven't port as much money as other companies into some of these new areas. I think I mean that it tastes way it. It's it is W creep you could apply this same kind of criticism to almost everybody traditional media that they're gonna. They're less comfortable with usual overall if there if they've made their money for years in print or television. And then something like social becomes an afterthought or side art projects. Rather than it according to focus on because the money is not fair and Italy source shaking dude. And you know there's they're not born additional site that needed ten of us are comfortable but. Yeah I I think. Over time they I think they're still they're still betting on this idea what you care about working you know why are we get our organ double games so. Yes people might come out at different angle that we heard. We're still play it if you real real Santa gonna go to Alaska and Audi Adidas. There are some question whether or younger fans wanna watch it here for three and a star telegram and you're watching him last night on my mind while watching it again but. Yeah I think Eddie that's that's and it's really hard answer whether standard and it went whether this duration fans eventually changes there media have a sword. Never never emulates that are there their dad's generation. Is ESPN doing anything in terms of new initiatives to try to get more involved in social media and one way or another. Yeah oh yeah I mean they've they've got a big team not in her there if you look at it did not read about how to use social reform there. There's they're pro Catholic. There's talk about which are not clearance wears a sport general time. I think Eddie started keep them. Try to emulate the parcels of which of the world in terms of their own try to be more conversation own edgy and like. That's tricky that's very talks. It's a tough place for big media company go which is cut its gonna come off it yet you you risk coming up in LA in authentic or not. Go to L I wonder if they're gonna still wore an acquisition. That. I could see that M I'm totally guessing but it might be it might be that way and and to accelerate that. Record. Very interesting Mike thank you for the time catch up with the soon. Mike Shields from business insider he's a lot of competition. In is there's so much competition there's only so many hours gonna watch TV. Right he had a job yet kids your got a life. You know and and everything's on demand it security watch TV watcher fold one of the things that I find interesting and there's number of books on ESP and they go into this topic but ESPN. Within about ten years after they had been found if you look at kind of what they did from the Larry in the eighties look what they did from the late eighties through the ninety's and they made a bet. The people were more interested in watching sports than watching their talent and so ESPN continue to spend. On programming. But they continued to push away some of there at their talents. That it come up through their ranks reach out about the likely got the sportscasters and talking relic. Rich Eisen okay Keith Olbermann a lot of these guys only came out of he has fear that they all came out of ESPN and ESPN refused to pay up for them when they could of and I think what's interesting. Is that I think it's penny wise and pound foolish because is paean right now is stuck with all of these contracts. For billions of dollars for sports books now. If you look at what's going on with all of them the interaction on social media. To about interacting with personalities. And it's about the individuals. And so my case should be instead of spending eight billion dollars on the NFL or six billion dollars on college football. Looking it's been ten million dollars and get yourself a couple of great anchors on the guys that are talking to guys that are talking and you think guys who engage on social media. It's a much cheaper investment and could pay huge dividends for and and often wash it any better I I'd. You're not the target audience I mean I know on tools they'd they want the dead 25 they want a forty year viewers they're not looking for someone who is. On the back nine but you know if you miss you like green bananas and her at the turn you know if if he is a little awkward there. They out when we come back we're be talking about a new helmet. For the NFL that could prevent concussions from the financial exchange Libyan. You've got Barry Armstrong. Financial exchange shall look I mean Cilic ginger radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader backed. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50%. IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is Derek strong with an important message for you and your family if you had a successful career and haven't yet taken the time playing for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's have been helping families like with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now what 8668485699. And ask for your free guide today that's 8668485699. 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We're talking about zero rent this is exciting because zero rent isn't method for landlords to collect their rent electronically. But there's now find it refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. All right so easy rent is a product we innovated leader paint. Comedy can be found it www. Siren dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic tenets. So there several advantages first you can say goodbye to being reliant on the US Postal Service. Good night to delays in the mail and no more need for paper check right. Where Israel and a lot of ball and you don't even have a checkbook re getting that all the time Elaine horrible call in and sign up because his tendon saying you didn't checks the where this really starts to get funnies when you your landlord and you have. Multiple tenants living in units grad students your university. Well right now they're all writing multiple checks and sending them in and for a landlord that source become confusing pain in the neck so would you Reynolds who's who actually deputy each tenant can individually. Matches in 101 payment for that unit to landlord. And then of course there are reports in notification to all electric stuff. But going back to your question a Condo association's a lot of Condo associations have been using human as well. Because the Condo payments that kind of the shirt to every month at the same so they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's the website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks. Get with the modern age go to dizzy rent dot net or call them toll free 8776917900. They say video adds ten pounds. But don't tell Berrian jog in the financial exchanges alive every day on FaceBook and YouTube Davis he's the financial exchange radio network. Peter bank is operating savings account providing. Free online banking with a one point 15% annual percentage yield this is an online product only and build minimum balance is required to log on to. Leader bank dot com and sign up today. Chuck the NFL has basically had a concussion disaster yet how many careers have been ended how many lives have been ruined because of concussions in the NFL. Yet the helmets haven't changed a list since the 197. Now it's it's it's been largely the same helmet designed some some small changes around the edges but not a whole lot of difference in. By the way I don't know if you saw with the CFL did know yesterday did the CFL as of next season. Is not going to allow full contact practices for the duration of the season except for training can. So getting rid of thought contact completely it's going to be no oil helmets during practice no shoulder pads nothing else and so getting rid of full contact practices. The NFL does have a new helmet that is out this year that about seventy players are wearing it's called the V assists 01. And it looks very similar to other helmets but pretty much what they've done. They've actually adapted some technology from cars specifically crumple zones in pretty much built them into the helmet to allow for greater cushioning. In a little bit different absorbs in a George and of impacts and players who Wear the helmet does cost about four times as much as traditional fixed so it's not gonna get down and a high school and use teams that that quickly just because that cost. That's where you really need it like where you get a us kisses. You know they're not that many guys that play in the NFL right they get paid lots of money so they get her look at the cost of doing business. But if your high school player in you getting the upper Colledge played he played division three college football different. And you weren't a twenty year old helmet. For that day what what this does you know with the amount of information that's coming out about concussions. We're with this does to the next generation of parents you know the because I have got. Friends who are young parents and they sat and talked a lot like it play hockey and Michael Mike and I got three boys that played hockey in all of them. All three of those boys suffered from severe concussions yeah I mean really debilitating out discussions. And you lot let a lot less people play football that they're still going to be a lot but you know the other thing you're likely gonna see is that it's largely going to be be wealthier parents that don't want their kids play then you have parents for their kids from lower class backgrounds their parents and looked as a way you can get out of here maybe you know and and eat it might turn into. A sport that simply does not have. A significant. Participation or when he talked about wealthier families would you guys like your kids play football or hockey. I probably would but not at early ages I'd probably wait until high school at the earliest just because. All the studies show that especially early exit you can cause some real damage appeared having your kids playing these sports. You know even soccer now has banned heading for a lot of younger ages just because they don't want the head impacts. Problem is you don't start playing hockey in your five. You're you're proud you're screwed for a few years we're not gonna catch up now know the I think that's the news for ice hockey players. He really they started like 56 years old that that the latest. And envoy he plays started at three in anyway. Don't forget to called the Armstrong advisory group during the month of September and get your 2017. Retirement plan distribution. Guy. It's available on the website financial exchange showed dot com or you can call my office at 80393. 4001. Who should call. Anybody who has an IRA if you don't fully understand what the rules and regulations are as a relates to taking money out of that fiery. Call my office 803934. Zeros or one or financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. GM workers in Canada are going on strike. They actually went extra workers in Canada going on strike here's the first strike at a Canadian auto assembly plant in 21. Years. You guys don't strike very much on who used to. We used to strike law and then the problems. They realized the more they went on strike the more they moved those manufacturing jobs to mex and this is can be resulting in 2750. Unionized employees at a factory in Ingersoll Ontario walking off the job. And the big reason is the union is saying. Eight we were demanding that Ingersoll be the sole location for the Chevy Equinox and and pretty much as are also made in Mexico they are and the and GM would not guaranteed and probably rightly so I mean it doesn't make sense for them to say your. You're gonna be the only place that makes these cars. And so these workers walking off the factory line at this point. GM coming out and saying yep we've made some progress in recent weeks were hoping to log at the union back to the negotiating table. We think ends up budging on this one I don't I don't know do you think the union does. It is it GM could say the you know if you're GM you say no big deal great guys are gone we'll close the factory move everything to Mexico. Hate to say that's that writes what happens in maybe the EC when your Ernie union. Sometimes you have leverage and sometimes you know this is a situation if you're an auto worker you have very. Diminished. Leopard prints out the nurse is that we were talking about earlier this not like carpenter to elect an electrician. Like if you're a plumber you've got Lambert right they. There's only so many in your area they can't outsource that job right but a manufacturing worker. And I'm not just picking on auto workers I don't care what you pay your laid off for about anything but jet engines the only view you know jet engine manufacturers is that there and say. Okay you've got some skills that I can't replace its highly skilled manufacturing or defense oriented manufacturing you've got some. Effort and if you're making a car or car parked. Worried your making a widget. But anyway it EU that widget can be need any. And downs in only the this is you know I understand the emotions in and no we wanna protect jobs that that's. The Jeremy lever they just don't have though he. Republicans have twelve days to repeal obamacare. And no room for error now we know Rand Paul is not in favor of the new plan. Loses Susan Collins and the one from Alaska Lisa Murkowski her pattern common to via you know. I gave you eight passes through the center. I don't know I was here are some things yesterday that you have some previously strong commitments that were weakening now via interesting argument that one of them was making actually I forget who was. But one Republican senator says that he was backing away from the bill is his fear was that he give the states block grants. Is that some of the Blue States may go and adopt single Payer systems and the fear is that doubt and being an introduction single Payer. Through states deciding to go about athlete which if it's kind of a funny way to think that's again I'll give the states whatever it would would give the money they can do whatever they want. But we're nervous about the go to single Payer interest in watching. Being applied. The Dow is up 34 points and oil has come back under fifty dollars a barrel currently trading at 4978. When we come back will be joined by Patricia Cohen from the New York Times will be talking about income. Disparity. And why incomes have not been rising over the last fifty years that is next from the financial exchange radio network. The financial exchange with Berrian chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out bank is offering in savings account providing free online banking with a one point 15%. Annual percentage this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com a step ahead. Security suffered through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question at financial extreme show dot com while you're there and fire of the media player and watch the show while you work. This is the financial exchange radio network. And the news is all good incomes are up poverty is down job openings have hit a record high. But if the economy so wonderful why are so many Americans still feeling left B nine. We're joined by patty culled from the New York Times I Patty Murray. Good so what's happened. To inflation. Adjusted median income for men. In the period of time we go back to 1973. To where we are today. Well not even further back in 1973. And and you know we've all been hearing about how weight is has. Stagnated particularly for working people and looked in the game have all going to pay top 1% but. The thing that I would go and it startled by in this daddy it goes. 81 of the U pieces give readers to actually look at what you. Heard over the course of a lifetime during your prime working years to look at between 25 and big east side. And what did you do use the Social Security database for that recent. Right and break these be executed Social Security database so what and that they were looking at you know you're at it represented it. AMBER Alert we're kind of extrapolating. In and out figuring out. Oh what people lighter or what snapshot from going near to another live in people's actual. Salaries and what it terribly that pretty much where 80% of all men in the working sport. You work injured they're working when you're twenty you worked for thirty years. In 1967. You would it made. Whole lot. More money and it even started let it work in when you're 25 in 1980. Mark for thirty years or 1990. And so on and that ought. And that current team to be going in the same way that we really. Is it a picture of how live over the course of a person's life time their income and income have gone down. And and patty it's happened during Republican administrations it's happened during democratic administrations. What are the causes you know one thing that I just look at his union membership I remember. I think UAW membership in particular peaked back in the 1980s and it's done nothing but dissipates and so. I mean it that you don't like kind of what I wrote this very act and it kind of like that Agatha creepy and in double murder me or is it. Rapper turned out you know every idiotic trade. I'd critics gathered in the murder. I mean there's a lot. I read it definitely. The erosion of labor unions which had it didn't work very much less bargaining power in terms of waited and you know there's a lot of other corporate that we talked about whether it competition from abroad. Companies are. Sending jobs overseas. But the point you made the board I think you are really important one that can easily lose sight of particularly at Highland Park. Partisanship that he'll find out. We're talking about a period it is the year and that. Both Republican and democratic administration. And I think bit the major point is that these herb you know. Being. Strong economic trends that are happening and is not the result of one particular. In a statement policies you're they're where they're in that aggregate current crew but it it immediately selling out or back. It erosion. American workers income goes. We talk about unions but you also look at globalization. You know in that NAFTA trade deal I mean the car I'm driving part of that was made in Mexico. The unity that must be influencing. Some of this as well as a back a year. Certainly the height of job has changed and I eat the question is also whether. Give it a big kind of global competitive system. You're ever going to get those same kind of jobs back in the United States and there are a lot of economists that are skeptical that. Just basically in the economics of it. Don't really work out. That a lot of companies making just made things much cheaper abroad in an eclectic become this okay so what you need you in the US. To make sure that there are good job available and and the reality is right now we have had very low unemployment rate. Employers complain all the time that they cannot find efficient worker though the problem is that the page. For many of these job now that are available. Particularly for those who did not finish high school is very loud and that. We really is that it dilemma and the problem and it's one that these readership are focusing on is saying look there's something wrong here in that. They reward for. High school education. Are sex. Definitely not as great as they use to be dealt with what the league is to get at that. Well in and I'm not sure you ever fix that one I mean somebody. Is not skilled and they're not educated and I don't mean necessarily having a four year college degree I mean. I think somebody with high school education but who's on a licensed electrician. Has a pretty bright future ahead of them. Right. A couple of things at an is that a lot. Guilt whether it Electric's in her well being. Are you in. Or are rat heart in the workers. Do those and I agree with you and it is currently. About only getting. The college degree there's a lot you know what you do your expert to kind of is that he should all education and grant. It was really. We need to be I think a lot better coordination. In terms of community colleges and high schools that are doing that type of training in operating. Unit and then funneling men. Directly into. The other side and it we'll talk about those skills appointment the reality is one of the biggest growing factor here. It ill health care and particularly things that require people out here update we got an aging population. And boomers retire when aging. Beer at the 88 terribly. So that the question is well what about reading. You know the wait a lower wages. Those worker. Right that's going to be supplying demand pat. Right at them natural market is going to dictate that so if I need to get care for my mom and dad who live in Arizona. You know an and I can't get anybody at eighteen dollars an hour than on an have to offer twenty you're 22 doesn't the market itself but just in a situation like out. Yes yes and no not not really irked at all because a lot of those. A lot of that payment comes after the government. Payment or insurance company says they're. And I think it also goes back to the point that you were making before about labor union which is. If people were too with those workers were to organize right there would be in a better position to organize for better wages and benefits. And they have leverage paddy unlike the manufacturing workers bracing the promise of manufacturing workers those jobs can be put anywhere a home health aides like you're describing. It has to be done in Phoenix that has to be done in New York City that has to be done and ask. Those workers I think actually have a better chance of having leverage. Then the manufacturing workers. Well it you would think Joba and again there there. One of the lowest paid around it and instinctively I write about the jobs report. And unemployment is is it every month and Deborah into bite I happened he would talk to and number employee who where complaining that they could not blind worker at him. You know respond and that is exactly like it well that the market anymore you have. Operable acquainted and what. People were saying to me repeatedly is well. Back to the airwaves time off very bad. If in fact I'm wondering. You're talking to the here you're talking to the employers patty talked to the work. If they are a different perspective. Is that the point isn't as we've seen and that is been one of the big big issue is how we you know ever. Read that the last two or three years everything a lot I took on and I'll let you know the demand for workers is increasingly risky wages. Well weighted had. You know they've shifted a little bit yet been a little progress but it remarkably. Stubborn and icky and that is yet to really. You know this is buying a lot of economists because. Exactly that kind of supply and demand or do you not seem to be operating. When it comes to wages and part of it is a lot of employers that are in. Willing to raise wages enough or see prices go up and it goes back to consumer Hugo is uncertain good. They're in don't want to pay more. For those. I agree patty thank you very much free time we appreciated. The mark you the market will correct itself on not one I've met I'll tell you the story about a woman who I met. Who didn't like the way she was being paid you know what you did and started her own business has been very successful since that. You're listening the financial exchanged marriage.
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