17 Burst results for "Philip Sexton"

"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

07:28 min | Last month

"philip sexton" Discussed on The Tom Dupree Show

"Welcome Tom this free show with us today we have Philip Sexton Mike Johnson and Tom are host Tom Debris with the Little Bon Jovi as our music. She kind of likes telling you the group it is like she into that. This is the first time I've been mixmaster so I'm. Live with it. To, embrace and I'll tell you what like usually when Tom picks music it's like. The Stinky Monkey Chili Pepper. Every All right. So we got a few articles we want to go over here today GRANTS INTEREST RATE Observer. James Grant. Is a brilliant writer. an an incredible. Observer. Of the Federal Reserve and what's been going on in the United States. Financial scene for many years. Subscribe to his. Publication called the grants interest rate observer he also has. Conferences in New York. This is this week's issue I wanted to talk about. An article from it. A marine a little bit of it William McChesney. Martin was a fine one for anti-inflation speechmaking the longest serving Federal Reserve chairman. Attacked rate of rise in the CPI of as little as one or two percent as if it prefigured the destruction of the dollar. So what? Grant is saying here is that Earlier. Your chairman of the Fed were very grudging. About seeing inflation, go up at all. Today and he talked about a Wall Street Journal that came out. Earlier this month said that actually the Fed is now taking an aggressive new line towards inflation he says gone is ferocity in defense of the integrity of the currency in its places ferocity in defense of the debasement of the currency in other words the Powell Fed. Says the Journal is prepared to welcome rates of rise in consumer prices above two percent to compensate for the many years of inflation rates below two percent now. And we'll. We'll get into a little more this article, but I wanted to talk about this part right here Could it be concurrent. That The Fed is saying this. About being willing to have higher rates of inflation could be concurrent with the a map, the the incredible amount of money. That has been put out there into the economy during the corona virus in terms of Payments to people and You know just kind of spending like there's no tomorrow. Google, could it be that this little verbal change in the way they look at inflation Could coincide with the fact that we're going to get some inflation right saving face. Yeah. Yeah. Exactly they're they're trying to save face for what inevitably you know. We're not inevitably, but likely will happen. Yes, you're possible but going back and say we need to possibly beyond two percent, which is there prior target beyond two percent to make up for the past it's like reparations on interest rates. Well on inflation, but I also think that, yeah, let's let's make Margo down to make up for all those years of went up. Right I, think to argue for for for Powell on this stance, you know the. The GDP is kind of like the home and that's the value in which you can tap for your equity as a country. What you've seen with all this money printing is, is that basically as a country, we've tapped our equity. Yeah. We've gone out and severely tapped our equity. So what pals trying to say here I feel like is that, hey, why don't we let this home price runup for for a little bit for we start tapping equity anymore and and I think that that's what he's trying to get at you know is that maybe we'll get there. You gotta get live more people back to work. Oh yes. One hundred percent agree with that but I think that the the stance of. That he's taking on, you know I'm going to welcome these four percent numbers. Is. Exactly. What that stands for is that, hey, we need to make sure that we have A firm footing on our loan value essentially well, and they're they're they want to higher interest rates. From debt service standpoint too because you're you know paying with inflated dollars exactly. They don't want higher interest rates, but they wouldn't play chelation higher inflation exactly and that's to my point. You know you're paying you're paying the debt off with. Money borrowed. Money. Essentially you're taking your consumption has increased four percent a year, but you're only paying two percent year on the the stuff. So it it allows you to build equity quote unquote at a faster rate, right? It goes on this article say. September thirtieth two, thousand, twenty one would mark the fortieth anniversary of the wonderful. Bull. Market that has dragged down the thirty year treasury yield to one two percent from fifteen percent. Mere. Words having halted this Juggernaut as your editor can attest neither has the parabolic rise. In the public. Debt. Nor the feds bulging balance-sheet. Now, I can say a little something about that. When? Interest rates were. That high in nineteen eighty, one, I was three years. into. This business. and. There weren't as many bonds in. there. Weren't as many investors. And there wasn't as much money. There you know people said well. Why didn't you just go out and buy the treasury bonds? At fifteen percent. And just retire because nobody had any money I mean. That was also right around the time. Of when Four one KS and IRA's were created. And we know how much money has been put away into those it's the. Biggest..

Federal Reserve Tom Debris James Grant Little Bon Jovi Powell William McChesney chairman Wall Street Journal New York treasury Google United States Philip Sexton Mike Johnson writer. Margo Journal Martin editor
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

06:36 min | 2 months ago

"philip sexton" Discussed on The Tom Dupree Show

"If Got Philip Sexton Dr Smash through Mike Johnson are host. Tom Debris. Take it away. Tom. Okay. Project Syndicate understanding the pandemic stock, market. Who saw this. Ad That was mine. Okay, go ahead. So. This was written by Robert Schiller. who is a pretty well known. Written some books and there's also an index called the case Schiller Index which measures home prices throughout the country, but he talks about what's happened to the stock, market. Really since. January when you know we started learning about this Corona virus Virus. And he breaks down in three phases. The first phase was January and early by the February where we knew about the virus, we heard about it. It was happening in China, but this does not really a fear of it there. They were like okay. This has happened in the past, or it's contained to our SARS SARS. Yes, It's contained to Asia. It's not gonNA come this way, so the market kept going up in fact that those without of complacency. The VIC switches volatile in the world. The next extremely low, and the market made new all-time highs in February. And then the second phase was banned. was has organization came out and called it a pandemic and you know cases kept rising. Cases kept rising in Europe Italy became. You know this big pace where? A lot of L. Does started dying. And then we started seeing pictures and images in the news of you know just hospitals without you know any a hospitals that didn't have enough beds, so that face. The stock market collapsed dropped. You know over thirty percent thirty five percent between very rapidly between the end of February and basically the end of March. the third phase is the phase when you know the Federal Reserve stepped in and announced all these programs. The Treasury stepped in president. Trump announced a big stimulus package. Almost three trillion dollars started supporting businesses, so there was a tremendous response, fiscal and monetary, and at that point we've seen. How democracy has risen rapidly over forty percent in a short period. So really in the span of. Six months we went from complacency panic. And now we're back to vary a earlier in the year. and it's it's all been driven by different de still uncertainty, but there's you know that's. Basically. That's what the market has done to during this pandemic. I think to what we're talking about. In the first half hour to his this this goes right back to those those human emotions as human nature's. started out with greed and complacency at the very beginning where Al, it's not that big of a deal. It's not coming over here and then. We'll by God it made it, and then it turns from that flips on one eighty straight to fear. And the fear of unknown and you saw the fastest bowl market happened in the history of right in history of of ever. That's just bear mark. Fastest bear market. Sorry, yeah. I was going around way there, then you actually on the flipside when the government stepped in and gave stimulus. I it was it. was that okay, so you know. Maybe it's not gonna be as bad Then you saw agreed start to take over the fear of missing out that you were talking about it. And you flip to the fastest bull market. Yes, I think the interesting thing to to talk about is that? You've got a lot of sectors and companies to though that. Yes, they. They participated in that. Run up, but you're still seeing. You know there was there was people that got stimulus that put it into the market. You got these robinhood day traders, but a lot of this money went to. These half lying tech names that you know is. Greed, upon greet at this point. That's true if you if you look at just a indexes, if you look at this and p. five hundred, it's actually very misleading. Jokers, twenty percent of the indexes, five big tech companies, your fangs, stocks, and Microsoft and radio when you look at other sectors, whether it'd be oil and gas whether it be insurance financial. They haven't really participated in this rally, so the broader market. It started been a broad-based recovery. It's been a tech. and. Biotech recovery, even though it makes it look like the entire stock markets recovered. It has I mean when you look at a company like Amazon I mean it's up what fifty percent your today yeah. Well the the SNP. Equal Weight index is down I think it's about eight and a half percent below where the S. p. five hundred is market cap weighted, and so that shows the. Out Performance of those few stocks because of the market cap of right, what's what's even interesting? When you look at the rest of the two thousand riches in of smaller companies, they're esser. Two thousand is basically where it was three years ago. Just got Noverre If, you look at like for example apple. The valuation, so we're looking at these and we talked about this some last week. To the the stocks that are the quote unquote safe place to park money were the valuations of gotten so skewed, and this isn't a recommendation on in buy sell anything on apple, but these are the statistics on apple right now. If you look at the trailing twelve month p. e., the tenure averages fifteen point seven six, currently, it's at thirty, the current pe twenty six tenure average thirteen. Price to cells average six point, three, current or average three and a half currently six point three one Christ. The book is two hundred and forty percent above its ten year. Average price to cash flow is ninety percent above.

Tom Debris apple Project Syndicate Philip Sexton Federal Reserve Asia Treasury Europe Robert Schiller. Al China Microsoft Trump Mike Johnson president
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

08:51 min | 8 months ago

"philip sexton" Discussed on The Tom Dupree Show

"At hate to see me Godin Welcome to the show. Got Philip sexton Lisp Afraid Guy. How do are y'all doing today? Everybody Fan Dan. Oh Yeah I've got saw. I'm going to read today Psalm. Fifty the mighty God even the Lord has spoken in. Call the earth from the rising of the sun to the going down there of out of Zion. The perfection of beauty. God has signed our God show come and shall not keep silence of fire shall devour before him and she'll be very tempestuous around about him he shall call to the heavens from above and to the earth that he may get judge his is people. Gather my saints together unto me. Those that have made a covenant with me by Sacrifice and the Heavens shall declare his righteousness forgot his judge himself. See La okay. We got some things we're going to get into today. you've been doing a series on four one K.. A rollover to Ra that kind of thing just talking to people about How to handle their retirement? Plans and Philip you might want to jump back into that. Yeah so Mike kind of touched on it a little bit last week. you know towards the end the show of last week but he didn't get to really dive in Today really wanted to dive in on what a 401k roll over to to an IRA actually is their first cousins in terms of their The the way they're set up before one K.. And an IRA or or basically basically the same type of tax deferred account right. Yeah the way. I like to describe it. I described it to a client like this one time. said it's like I'm used to different vehicles though instead said it's like jumping out of a Ford F one fifty into a Silverado. Fifteen hundred both spent some people with that well especially in Kentucky. We didn't say Toyota. Well well well but yeah. Toyota's that's too. That's up there. That's a fancy retirement. Okay that's doing Improv. Equity stuff but so roll with that. It's a good in our reason. I use use. That analogy is because it's the same style of vehicle. You get the same benefits of the vehicle so you get the tax deferment All that all those kinds of benefits The difference is is the availability of investments. Yeah the doodads once you can actually do inside the vehicle Vehicle vehicle the. Yeah the vehicle they well they both have the same motors. Basically in terms of power power. Yeah right right but when you when you really start looking underneath some of the features of those motors correct correct right. There's there's many many differences and that's that's where you know so when you look at a 401k 401k for example you're limited to the planes options so let's say a company like Toyota writes up their 401k since we usually the Toyota Tundra has the vehicle Let's say they write up their 401k plan and they offer a list of mutual funds. Because that's all that's that's in a four one K.. Options right now Let's say that's that's a list of fifty. Maybe that's what you get to pick from. And it's all mutual funds now when you open up to an IRA you're open up to everything every investment opportunity that you won't just about you can't do like prominently and stuff really depending upon your situation but any stock any bond you WanNa buy any mutual refund. You WanNa buy all then so you you automatically give yourself a foot you know a step ahead of the game because now you can go directly into equity that you want that you run research on instead of picking a mutual fund that hopefully invest in what you're wanting to invest in CA- Scott Call it the toe dipping of investment. Yeah you like that you can put your whole foot in there you can. But you're you're starting to get wet right it it. The investment styles in 401K's are guided for people who are inexperienced in markets and don't do any equity analysis within an IRA you're able to do analysis and Invest Aston things that You know your research might turn up so it set it in. Forget it a try it you put it in there and walk away right And I and it's also set up because we're their mutual funds. It's also set up more for dollar cost average approach to you know one of the things that I have on here like some questions about 401k. Rollovers is you know. Why do it? Well we we've touched on the wise the you know when when when you're no longer with the company for sure well you're you're no longer todd of the company you give yourself optionality around your investments which you know when in your needs Change Ryan need that optionality The next part is when is it available so a 401k. 401K rollover is always available after after you've severed employment right with the company whether it's retirement arment You know leaving for whatever reason Anything like that Another way that a 401k rollover all over is available is what's called an in-service rollover so an in service rollover That a lot of companies make available. Actually you know and it's it's a simple question to ask your 401k provider to if hey available for an in service rollover what that is is that at age aged fifty nine and a half you can while you're still employed with the business that you're employed with you can roll over a portion Whatever's in the the account usually into an IRA? Yeah the best thing about this. Is it gives you that optionality analogy with that portion of money while you're still employed but it keeps the shell of the 401K. Open right to continue to Add money to over over the course of employment because you don't want to give up a company match or anything like that so you still want to have that Shell there but the reason someone would do a potential 401k rollover inservice rollover. While they're still employed is actually. There's a really good reason behind this We always talk about the relationship that you build with an adviser you know and and how it's a marriage to to dive in you know you need Tom to make sure that this marriage is is what you WANNA do. I said Sometimes you need the data data adviser before you decide you WANNA marry him. Well this gives you the perfect option to date an adviser before you marry him because once you retire and you you move your money to an adviser marriage marriage that you know when you don't WanNa be getting divorced three years down the road because the reason you're getting divorced is probably not a good reason reason and so this is this. Is that ability to all right. I'm fifty nine and a half. I'm still GONNA work till I'm sixty six sixty seven however long that may be. I'm GonNa take this money and I'm I'm I'M GONNA move it to this farm manager for a couple years. See how I like it. See how the communication indication goes you know what their what their strategy is and you can make better sound decisions around your retirement that right. Plus you've got somebody that's guiding you towards retirement arm. I WanNA bring a point. We let us take a break. Okay quick it is the Tom Depreciate newsradio six thirty. WIP.

Toyota Philip sexton Toyota Tundra Invest Aston Mike kind La Zion Kentucky Ryan Tom
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

09:59 min | 9 months ago

"philip sexton" Discussed on The Tom Dupree Show

"For instance are they can't sell them and many advisors want the flexibility to sell some. Can I say something I have. I don't want say something about all this it depre- financial group. We say all time. What are we we are a diligent agent Gad? We are fourth bright in our investment approach. What that really means? We're going to be rigorously honest with you and we're not going to run into this. Your best interest buzz line anymore. which is what's happening in the investment business? That's just what we're seeing. Your best interest is at stake when in fact there's a lot of people pulling it some of these guys but that's not that's not the way we operate operate in one of the things we do to support that is simply we encourage you to get second or third opinions. And maybe we're the second or third opinion for you but that will eliminate a big part of what you're talking about here this tragic story go ahead Elizabeth. Now the whole fiduciary thing is is the fact that people. Because I was looking at doing doing the marketing like I do. I was looking at different profiles of different companies and I was stunned that this person claiming to be a fiduciary jerry was selling annuities and I came to. I think Mike who is my compliance guru. I said how can this even be. This is this isn't right. Why the the SEC Blah Blah Blah and he said well they're probably duly registered? Go is and I'm really the kind of pedestrian consumer consumer. I'm not licensed. I haven't studied all of this I so I am Joe Customer so if I'm confused when I'm around at every day day not licensed what. What's the public? I mean it is really. There's a lot of money water and you gotta ask questions. And that's another one of Mike. Mike and guys buzzwords ask questions as one question to question. Three questions asked questions. We love questions. We love to answer answer questions. We love to educate God and empower through answering those questions right. We're all at it and that clears up the Hayes. The fog the muddy water real quick. Because if you if you can't give good answers you probably hadn't something good point. I want to the answer question. I was asked by several people to us. You know why not annuities. Everybody says why. Why are we against the nudity? And I'm GonNa Answer. Answer it with another question in use this article so you have to become duly registered to sell an annuity. Yes meaning that if you act solely solely as an R. I.. which acts solely by the fiduciary standard which the definition of a fiduciary standard is? You have to put the clients best interests ahead of your own. You cannot sell them an annuity. If I can't act in your best interest and sell you. An annuity is an annuity in your best interest. Right why is it. It's separate and why are you getting a big commission to sell it. You get what I'm saying do so if I have to. If I can't sell you something at acting acting in your best interest vinit is not in your best interest very well said my friend when when when you boil it down. That's where that's where you have to. You know really think logically about these things you know how questions the questions asked. How are you getting compensated? What are you doing for me? What are the risks associated with the investments? That you're putting me in you know. Let's the fine print. Let is the fun pride. Here's there's a novel that you need to read. Only the new IT IS I. I mean if you ask the first three questions you probably won't even make it to the fun for before you say no. Hey I'm going to get six percent up front on this thing monies tied up for ten twenty years. Yeah exactly penalties. Yeah and that's you know we're we're not duly registered though. I WANNA say that. And and we're not doing registered for that exact reason we don't want to have those those conflicts of interest. We don't want to be trying to shake your hand with with our right hand and reach in your back pocket with our left. Yeah that's almost what that that relationship is right it there where I'll sell you a commission based product but then charge you to monitor the commission based product where there is no monitoring an annuity out. You know it is is what it is and what we're trying to do is we're trying to build a relationship based on trust and we're going to tell you. Hey Hey these are the stocks were picking. This is the research we've done on these stocks. This is why we think are our researches is good on on these stocks and why they're good investment and this is how this is how we're GONNA go about monitoring it you know and and moving forward word. This is what changes need to be made right to the portfolio. No change that we do in the portfolio is to aren't ourselves a commission right now it is to we can't take I. I was going to say no change. We we do in the portfolio is to better ourselves our position but that would be a lying statement now you because older obviously actually trying to grow the money yeah ultimately the only way we get paid we charge a percentage of the assets under management. So the only way we get paid to grow the assets under management. So yes if we're doing a change in the portfolio it's to help grow your portfolio so it puts us on the same side of the table ultimately you know when you're when the only way you're compensated is by a percentage of the assets assets under management. You've got to do two things if you don't if you don't have a lock up like an annuity lock them in for ten years and you don't have the assets over over a period of time but you've also got to do it in a prudent manner you know because if you go out there and you take high risk and you get whacked everybody everybody leaves you and you've got nothing you know you reputations gone you. You've got nothing left at that point so those are some questions you should be asking right. Good Point we'll go on this lime thing nine. I read one of these yesterday did you did you re run. They're my go ahead. Go fill all right so got lyman. What's the other one Spin it's been spin. Yeah so you know scooter. Startup lomb exits a dozen markets and cuts jobs. You know the electric scooter. Startup Llamas. His laying off fourteen percent of its workforce as it pulls out a dozen out of a dozen markets in the US and abroad lime which is legally known as Neutron Holdings Inc will stop operating in twelve markets across the globe co founder chief. Executive Brad Bow said Thursday in a blog post on the company's website. This is up potential effect to us because why mom actually has entered Lexington. Did what over the fall. It's been here for about six months. The those are those little motorise electric scooters. See Him all over town right. You're all about your all about jobs and local local. You know by the way speaking jobs. Hey jobs report was out Friday. It was good so y'all I realize I think we're at one hundred forty five thousand for December which is not unusual but y'all realize over the last decade ten years running. We have increase this jobs every year for ten years it's amazing that is amazing but these ym scooters if y'all have not driven downtown encourage you to do so be careful though those the kids that are using them or hot. They are moving quick. But what I think's interesting interesting about this is they're trying to find their market niche. And I bet you if you break down the cities that are most profitable cities like Lexington that are mid SAS cities have a major university college town. College town feel are the is the model. That's working the cities. I pulled out over the major markets. Yeah the land on you know Phoenix people like that. It's not huge but the job creation that it creates a a local place like Lexin. And you've got to have somebody to go round and gather these up and put them in good spots you've gotta have some. Hr Charge mechanical issues fixed Now you can't ship them off to San Antonio to do this it helps to have somebody loving them. I check out the pre financial group for your retirement planning needs. That's debris financial dot com or. Look US up on facebook. We appreciate you listening today. We've had Philip sexton Guy Hugo Lisbeth Dupree. Who in the Tom depre- show newsradio six thirty P?.

fiduciary Mike Lexington Gad Philip sexton Guy Hugo Lisbeth Elizabeth SEC Phoenix Joe Customer Tom depre Hayes facebook US Lexin San Antonio jerry lyman Executive
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

11:52 min | 9 months ago

"philip sexton" Discussed on The Tom Dupree Show

"Time to pre show. Guess what millionaire's support a wealth tax on other millionaires a significant majority of millionaires support a wealth tax for people with fortunes greater than fifty million dollars according to a new. CBS's PO CNBC. But the poll suggests the well-heeled like a wealth tax only when it applies to richer millionaire's not to them fifty nine percent of millionaire said they would get behind the US tax on wealth over fifty million. Excuse accuse me that's the threshold above which Democratic candidate Elizabeth Warren wants to levy of two percent tax. Her proposed tax would rise rise to six percent on wealth. Over two billion and rival Bernie Sanders has proposed a wealth tax of his own on network over thirty two million dollars about half of wealthier millionaires. Those with five million dollars or more oppose warrants proposed tax according to the PLO see NBC. Po Oh support among all millionaires declines for a wealth tax with a lower threshold of ten million dollars with forty eight percent opposed to it. Meanwhile most millionaires said they already pay their fair. Share to the IRS. Most people who are worth ten million or less don't feel wealthy. Even even though they are relative to the population says George Wolper President of spectrum group which conducts CNBC'S BI annual survey of people with investable assets of a million dollars or more and so they feel. They should not be penalized but they do think that most people worth fifty million the inner more are wealthy and should pay more so it's always the other guy that I don't need to be paying but he needs to be paying like children. Yeah not me now I want me one meets you you you do it you do it. It's a right that's real. That sort of I having not read the article myself. I can't I don't really get where it's all coming from. But of course you're going to want the guy to pay more taxes right. This is how retirees live on a million dollars for most the word millionaire the term coined the eighteenth century calls to mind images of lavish is wealth and extravagant lifestyles. Simply having this much money once represented a ticket to life on easy street these days. Thanks to inflation. Cost of living increases and lifestyle changes. Retiring on a million dollars isn't as carefree. It now requires smart budgeting to ensure this nest egg last for retirees remaining years. Well you don't know how long you're gonNA live right you don't know depending on how your that's why it's so important to know how you're invested vested because You know the million dollars can last a lot longer if you're invested in something that's painted income Off of the principal. And you're not eating up your principal or or living beyond your means you gotta stay a lot of times when people come in and visit with debris financial group. That's one of the first things that it that Mike and the guys go over with him with them is What's what what are you spend the money on? And it's just the basic questions you know the the housing the car insurance the And they kind of get a snapshot view on what kind of Monthly income they need and then they take a look at the How much principal? They've got what they've got invested and you know. Sometimes Times people come in thinking that they can they can Squeeze juice set of turn-up in we they have to tell him that no It's you're going to have to work a little longer or no. You'RE GONNA need to get another job and supplementary income a little bit because you can't live with but that's what we do that's how we help people is. We help them see how far they can make their money go and if they can live off a million dollars if you're not Davin ended. The principle is is doable. If you're if you're budgets in line right your budget has to be in line. But she can't you can't be in gross stocks and ride the stock market up and down and have quite is xbox stop there. That's an inside joke at. Yeah when we first got married and Tom was still in equities well the first things that he put me in. We're tech stocks which you made money on. That didn't go so well actually made money on. Okay all right the you know toward the without even let's not even glitz not even go there anyway. Getting back to what we're doing now days. The wiser more mature form of of business for Tom. depre- Junior Anyway anyway did come talk to us and we can. We can get more into how we can help you. Make a million dollars or or less depending. We know what your budget is worked for you in retirement one technique to purchase an immediate annuity. which no no? No that's a terrible transition -sition from what would you know. Read it like that. He's lump sum into guaranteed monthly paycheck for the remainder of his or her life. That is a headline that he is. He is reading to introduce the next. Another is to invest money in a standard portfolio typically one diversified with mutual fund in stock and bond investments then withdraw fixed percentage of that portfolio with us. We just mainly put it in stocks that pay dividends that are well researched by our team To make sure they fit the profile of we don't use outside research we do all our on research So that it all fits the profile of our portfolio. Yeah I think Tom just took a mental breaker. Something that looked it can't taxes in retirement. How all fifty states tax ax retirees retirees relocate for lots of different reasons from the weather to proximity to grandchildren moving from a pricey part of the country to one with low housing? Prices could also lower your expenses and make your retirement savings last longer but as you consider the cost of living in potential retirement destinations. summations don't overlook the impact of state taxes on your bottom line That was one of the things that worked really well for you and your early career when you lived in Texas would you talk about that. Was Texas didn't have a state tax and made a huge difference difference in your did your income. Didn't it made a big difference. Yeah I mean what dollar wise safe you made one hundred thousand dollars a year. How much difference does having no stack state income tax thousand bucks six thousand on a on a hundred thousand Kentucky? Yeah that coming over the years that can add up. And then the other side of this Florida's still not have any death pat. They don't have a AH. They don't have income tax either. Is that right. Yeah so do they make they make up the revenue with sales tax sales taxes and hotel taxes. And things like that because Florida is such a big tourist date right that that would make some be a little bit harder for Kentucky to do with. When it's well it's beautiful? It's been beautiful this weekend. It hadn't had to fill the need of Brendan to Florida to get warm. The bluegrass state exempts Social Security benefits from state income taxes. Plus up to thirty one thousand nine hundred and ten dollars per person of a wide variety of retirement income including public and private. Pensions and annuities woody's income that exceeds that exemption will face a five percent flat tax as well as local taxes which averaged two point eight percent. Two Point Oh. Eight percent. According to the tax foundation a six percent sales taxes imposed in Kentucky at the state level homeowners sixty five and older qualify for for a homestead provisions that exempts parts of the value of their property from state taxes. It's one of Kiplinger's top ten. Most tax friendly state eight for retirees. That's Kentucky interesting. That is interesting. I never would have guessed it. Yeah I wouldn't have either and then they have Our New Hampshire as a as one of the top places. This is to retire. Why in the what that sends like that would be a main from residents in the granite state pay no taxes on social security benefits? Its pensions or distributions from their retirement. Plans that's New Hampshire. There's no sales tax either. So you can shop your heart's content. So where does their income income come from the state income. I don't know 'cause you eliminate sales tax. You eliminate all those other taxes. It's teeny little state. But they still need to have income that it is not sure well. That's that's something we might need to get back. Let the listeners get back to the listeners and let them know but if you're hearing anything that makes sense give us a call at two three three zero four hundred. We like to sit down with you and talk about your retirement savings and help you to navigate the treacherous waters potentially treacherous waters potentially treacherous waters of retirement investing and gave you kind of a snapshot of of what possibly could be right. Educate God and empower us to you can live enjoyable life in retirement. That's right so Philip Sexton is in the house. Were going to do the next hour with him. How you doing? I'm doing great just woke up about. I'm about an hour ago. So I'm I've got the juices flowing and I'm ready to roll good. You didn't realize realized Mike would be hot the minute you hit the door that digital that's all I Right jump on that horse run. We'll be back after the right. You've been listening to the Tom Depre- show six thirty. WWL I pay. What's it say they can make Harry Wu expects?.

Tom Depre Kentucky Florida principal Mike US IRS Bernie Sanders Elizabeth Warren New Hampshire CNBC NBC CBS Texas Harry Wu George Wolper Kiplinger
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

10:08 min | 9 months ago

"philip sexton" Discussed on The Tom Dupree Show

"Really big honky-tonk or back in seventies and never really enjoyed The success in the eighties like he did in the seventies but his biggest criticism was he was too country for the rock crowd and too rock for the country crowd. There you go and that's the way I like. It's good middle ground. Yeah so we're going to get in his some of his music get back to the Honky Tonk in two thousand nineteen on all right Philip sexton welcome you to the show. Good morning everybody. So Great Day to be alive. Dividend futures are growing in popularity. Here's how they work with that so it was all or cough barons by Chris. Matty's is really throwing me off as while. Why would somebody do this? So it says for the income investor who seeks yield from dividend stocks dachshund fixed income investments. There's an increasingly popular financial instrument that effectively marries the best of both worlds dividend futures these derivatives function function much like zero coupon bonds and that buyers pay discounted price today for the potential of a full dividend payment sometime in the future if the company in question fulfils exceeds its promised to pay a certain dividend. The investor will earn the difference between the purchase price and the ultimate payment Dividend futures are an asset class that is seeing increased interest from our. US CLIENT SAYS GREGA BOOTLE IT'LL US head of equity and derivative strategy at BNP Parabas. He knows that they let investors take on different kinds of risk than those it was a stocks and bonds adding diversification to a portfolio. So have a few issues with this. It seems to me almost like a You you've seen those those advertisements on TV the that they'll pay part of your paycheck now or whatever. It seems to me that that's kind of what you're trying to get. There is that I'm GonNa buy this this dividend future and you know to bank on my dividend in the next three months. The other problem is with anything basically selling a call or put on your debit. You're selling a call on your dividend. Pretty Much I. It's it's kind of. It's kind of really creepy. But the other the other thing too I take issue. This is where this guy at. BNP says They let investors take on different kinds of risks than those of stocks and bonds adding diversification to a portfolio. You don't you don't necessarily need to add risks to diversify your portfolio right Picture here's here's an analogy for you. I picture it like getting into vehicle. Your wrist saw getting into a wreck. But you get into a wreck head on you could get hit in on the side and you can get hit in the back. Yeah you know why. Why why in the world would you add that something could come up through the road and hit you from underground underground or something that you're you're adding things that you have to watch that you can't really monitor? The thing is too is when you when you look at this. And when you buy a dividend future if the dividend gets cut yeah or the dividend for some reason reason dozen get paid then your futures worthless right then you basically have wiped out your entire position zero. So the thing is let's say you own the stock of the company that's paying the dividend and they cut the dividend. You still at least on the star still at least on the stock and the reason and the reason that that has so much more potential is because you've done your research Asia hopefully on that stock right You know we've I. I know a few times where we've actually bought a stock knowing. It was going to cut the dividend because we knew the basic business of the company we knew the underlying fundamentals and we knew that after after the dividend cut they would be able to pay down debt or rework the balance sheet. Or maybe they were going to do. Maybe they were going to acquire clar a company or something like that but we knew that in a few years that dividend would start to rise again. Yeah and we also knew that at the dividend after it was cut was more consistent more predictable of dividend so we can wrap our arms around that income. Yeah in this instance if you bought the dividend future and they cut the dividend. Well you're zero it. It's what kind stocks would What kind of companies would participate in a dividend futures scenario? Would it be a company that was a little bit. Eh Riskier. It wouldn't I wouldn't even say you know from a future standpoint it would just be the The the market maker that you know whatever you could drive interest on if it was an. At and T. dividend or Apple David or anything like that because for them they're collecting Just a small little fee on every future that they so it wouldn't be like a Different like bonds are rated differently and with some bonds you get Higher interest rate. Because they're a little bit riskier skier and the writings. Not as good and that wouldn't be what these dividend futures because it dividend. You what you're doing with the dividend future is you're you're selling the payment prior to getting it or you're buying the payment prior to getting it and the payment is the dividend. You're buying a future on it. which is going to be naturally discounted because the payment hasn't come yet? That's what you're doing. Yeah and I think the movie The the big short When they start talking about how how financially leveraged bridged the Housing Market Gotten When they give that example where they're in the casino and The Guy makes the bet. And then there's like a hundred the people on in behind him and he said I bet that that guy that guy's GonNa win his bet all right I'll bet one hundred dollars and then the people behind him say well. I bet that that she's going to win. That bet that you know and it just keeps steamrolling and it's like It's like having a a whip almost and the fact that the farther away you get from the actual thing you know when you just do that we'll by the time you get to the very end of that whip it's like a big crack and and that's why not if you're going to do the research and say hey this company's GonNa pay the dividend. Why not own the company right? Why not participate? Tate in the potential increase in value of the company from continually paying dividend. It I don't understand why anybody would want to would want to to do this. To be honest. Amble as opposed to to have the wide you bring it up because yes I wanted to talk about it. I wanted to take the other thing too that I also wanted to talk about from this article was when you own a company Dan and you pay It pays dividends well in terms of when you've got a taxable investment account not an IRA just uh regular taxable non-qualified account you pay a flat You pay a flat tax on those dividends. Yep well if your own in dividend futures and let's say that you know the future's pay out within like three to six months or something like that that could could potentially be considered short term capital gains. What your tax at regular income there? There's a lot of other implications nations that may not be thought of when when you're looking at this too It seems like a dirty way on on collect and income in the account. Yeah not not not too good okay all right. Well we're not going to be doing any dividend futures today or or next week or next next month. Yeah we're out of the business. We never got in it while this ten year. Old Bull market is actually a good one is actually a one why this ten year old bull market is actually a one year old. Yeah morning brief. What's going on with that okay? So according to the people who uncompromisingly follow rules to the T- The S. and P.. Five hundred has an experienced bear mortgage good. Since the financial crisis seen plenty of ten percent correction since it bottomed in March of online on its way to setting new record highs at Thursday's close is but if you're referencing the market based on closing prices the SNP has yet to fall into a bear market which is traditionally defined as a twenty percent decline from a closing price to a low closing price a year ago the S. and P.. Barely missed it. Falling nineteen point eight percent from its September timber twenty closing price Have Twenty nine Thirty point seven five two. It's December twenty four. Th closing of twenty three fifty one point.

US Honky Tonk Chris BNP Parabas Philip sexton Matty SNP Apple Asia Tate Dan The the market maker
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

08:08 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"We we had a couple. The husband did all of the financial stuff and he actually had a stroke but what he was able to do was he wrote down or not. Rope typed out on the computer ridden direction of all the financial stuff. you know the electric bill. It was due on this day. It usually stays around. This price is what we pay. pay it online here. You know the water bill all this so will all that his wife had to do was get on the computer and basically read the handbook. Yeah you know the first story that I really wanted to get into is something I feel like. We really preach on it at at at the farm is we've got three pillars. Educate okay got empower. This is educate right here because we don't feel like there should be just worn one side of the whoa inside of the spousal tree that does everything. We want everybody to be involved everybody to understand what's going on because I tell oh my wife is. There's probably going to be a day where you're going to have to know Yep. You know it's the same principle as as any spouse. Both spouses need no because is there make them a day where both spouses need to know. Hey guys I'm GonNa pipe in right here and this is Elizabeth host debris of depre- financial group. She's coming in to talk big. Actually it is one of my soapbox things no kidding and it it goes said that okay it goes on down the family tree from just the spouse shoulder of with their parents. They need to know this information to I lost my mother in April and being even being around the business I didn't know as much is on needed to know to navigate all that I need to deal with now so no get involved with your parents information. Don't turn a blind eye or a deaf ear thinking. I'd you know it's really important that you know what is going on with your parents information in addition to knowing what's going on in your spouse or relationship with finances on and I've seen plenty of times to on top of that where someone passes away in the kids you know the the last spouse passes away and the kids have to come in you know and that that's a scary time because you're trying to figure out what's going on. You're dealing with. You're dealing with the death. If of your your parents your last parent and mortgage bless her heart is is pretty much. The greatest gift to man the Margaret is really our office glue Iraq there she out seen plenty of times house or she's taking a a a child. I wouldn't call it a child because they're older than me but you know taking someone by the hand and walk them step by step through this process of of how to go through it what is needed and it's it's very very smooth on our end just because you know we were were there on pillar number to guide. Were there to be the guide of how how to navigate those waters. you know the other thing the education back to the education part the reason it's so simple because we've educate our clients on how to set up the beneficiaries in their account. You can set up beneficiary in a roth. IRA or traditional IRA or whatever ever it may be or even just the individual investment account you can make a transfer on death account to where it skips probate to where all the beneficiary needs to do is produce a death certificate though we're not attorneys and you get you get official advice from attorneys on all wright-phillips. I only target all agree with that statement. Yeah it's up to you whether or not you seek turney help but that's why you know we we do. We do a lot for our clients. In in this realm you know and I think that it's a very important round that needs to be spoken upon because life happens. Take one the big because I'll tell you a story about a couple here in Lexington that that this situation we're talking about really caused some problems. The husband had never included the spouse in any of the financial discussions they were living a very happy and joyful retirement and they had very nice portfolio and the husband was continuing to grow old and with age starting to you know have a little bit of early dementia and he never discussed finances with his spouse and the next thing they knew this husband had been solicited. Bob Investment Opportunities and started investing in extremely high risk business deals a lot of money of which they lost every bit of it and every penny every penny of it and in because he kept everything close and he was very respectable you know individual great career smart but but you know just started getting out there and became a little naive and started believing some of these guys that were pitching him and Bam had the spouse been included in these discussions. Obviously probably the next thing would happen. What Elizabeth is talking about. The children who were grown would have been included in then. Some decisions have been made like wait a minute hold on a minute dead. This might be a little too risky so that's that's very important when I something I wanted is important. Yeah are something from that too in the fact that the hardest thing for some one of the hardest things for someone to do in that scenario is to admit that they've become compromised mentally hard hard to and if you've built a layer of trust around an adviser you know there's been times where we've had to talk to clients and say hey you know we we need to get your kids involved here or your spouse involved here because this is we wanna make sure that this continues the last asked and work for you that if you've built a layer of trust it's a lot easier coming from somebody that you trust. You know the other thing. We talked about too. Who is that's. That's a sophisticated scam. Oh yes but then there's all the scammers so when you don't include the spouse in any of this then there they are and they start getting these phone calls and they don't know win right. Bam off to the races here. We go again sad. It's sad sad stuff. It really gets down to having a trusted advisory. Network people that you can talk talk to. We need to take a break here. It's Tom Depre- show with guy he aglet and Philip Sexton newsradio six thirty..

Elizabeth Tom Depre Bob Investment Opportunities turney Lexington Iraq official Margaret Bam Philip Sexton
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

10:40 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"Back on the Tom Brady show number of our eyes hits record high going on with that yeah well. It's it's a industry that that we're definitely in. You know we're in. Ri Sonar. I they follow the fiduciary standard standard. Let's say a registered investment advisor so folks no registered investment advisor they follow the fodder -ciary standard and the fiduciary standard means that legally have to put their interests ahead of ahead of you so it says in many relationships it's a white wrong article wrong one sorry executives and other players in registered investment adviser advisory as we space often tout that channel speed growth so it says that there's the number of SEC registered investment advisers at a record high of twelve thousand nine hundred and ninety three which is up three point three percent from two thousand eighteen these these farm service more than forty three million clients and oversee eighty three point seven trillion dollars in assets trillion added crazy easy. That's what's the population of America three hundred and four hundred million of Catholic three three forty in about. I don't think it's that high thirty four. I I think was the last time wow so a lot of money. I mean yeah. That's what one seven seven yeah like that one eight three twenty seven. We're getting low yeah. We need more babies. for more economic growth. Exactly more people buy more things yeah Kickapoo joy juice. Detroit but it says our profession is experiencing continued growth is increasing numbers of investors re recognize the value of fiduciary advisors. I A A president and CEO Karen Bar said in a statement the one the one thing in this article that struck me is just how many or is there actually are in this country how many Fisher in the C- yeah and not all allows the FCC gone oversea all of well yeah and and not all our eyes are created equally. That's right there. There's very few of them are as good as depre- financial group. That's right yeah. I agree with that statement but that that's that's true in the fact that the fiduciary due Sherry Standard that you know that that Lov I I have to put my clients interests. Ahead of my own is a broad broad brush stroke type standard in that. There's a lot of leeway in how you really meet that definition. That's right right and you know they're. They're technically people that follow the fiduciary standard that sale products right at may may not be the best thing for for a client over there you see a fiduciary can sell an annuity which is they really yeah there? There are no commission annuities out there. which you know may not be the best thing because it locks you into it locks you into something at that point where you may need the liquidity for some reason the thing about it is to it was also some of these are is May or may not be talking to you. you know you may have you may go to someone that they just put you into a a model portfolio and just let it ride. Let me let me throw some things out up for discussion here. 'cause up listen to this stats so a majority of the assets under management are concentrated among a small group of large endowed advisors one point one percent of SEC registered advisors. That's one hundred and forty eight are a firms manage or managing over a hundred billion okay and assets that represents sixty percent of the industry assets all right group. That's large firms right in that who that is so about seven and ten of the arise or managing less than a billion in assets assets and they account for just three point one percent of assets under management. That's that's where I was trying to go with that that that you get put into the model portfolio because all you are is a number. You're a number at that point. That's right okay yeah. That's how can how can someone if they're just a number. How can I if you're just a number two guy. How can I make sure that your interest or ahead of mine. Whoa a man and this is where I'm trying to get back to what we really. You know. We don't really fall. I mean we're registered. Investment advising firm that fall into that seven in ten group under a billion in assets under management okay. That's that's who we are but that's we're not part of that big world out there of one eight hundred. You can't talk to fine and try and that's not we're main street. USA Say Walk in and have coffee with this. We're going to be there. You can touch and feel and smell us and we do smell good. Yes we do that. What we make sure we shower every day most of requirement the smell smell of fresh baked cookies out of the oven every day. It's enough to get you there right there so but that's really you know. I think this is a little bit misleading if I work for a national firm Goldman Sachs shirt and I'm a registered investment advisor. I'm part of this number right Yep. I'll call Goldman. Sachs not really their brokerage firm. it would be companies like Vanguard Fidelity American funds though companies like that licensed correct. They've passed the task. Ask the Securities Test Yeah. That's what I'm reading here. There is some pretty good economic development as a result of this you see the jobs report off that over eight hundred thousand new jobs created in the financial service industry just last month y'all and the professional services business services report. There was thirty seven thousand new jobs just in that area really increase that much so the bottom line is our firm is among a growing industry. That's one of the reasons I started rated. The deal back when I did was that I saw that the retirement market was going to keep growing for a long time uh-huh and and I think I wanNA share a story of actually something to happen to me this week in the fact that we had a client and uh he's GonNa remain nameless but we had this story out of name. We just can't say it. That's right yeah in the Warriors Jim Jim Coach. He's got got a name coachee approach croce ever come on. You're showing your youth say I can sing. All the songs guys. Lisbeth is losing it over here. You've got story of how he describes dividends of his portfolio volume the income in terms of pencils right well he called you know a a month ago and with when that volatility it struck the market and he was just you know okay. I guess wanting some reassurance at a lot of people do when you know they're talking to their adviser. Well I was able to talk to him and I was able to bring up the pencils and everything else and when he came in for an account review. I think it was Monday. Yeah it was Monday he came in and he spoke it was Tuesday. He spoke to us and he said I just I wanna let y'all know how much I appreciate you all and how much the fact that you knew who I was because because of that pencil analogy right you know we. That's something that we pride ourselves on the fact that we know who our clients are yeah you you know it's it's not very often where you can sit across the table from your deposit and he really knows your family. Knows knows what's going on. We have relationships ship yeah our clients. We're you know we're vested in each other's lives. It's what makes US special trade and relationships ships in this business. That's what makes for long term success. I wanted to told you guy. I said you make getting shot sound fun because you would be that general saying we're going to war the thing because that's the kind of relationship that I've built with you guys that I would trust. You and I'll be like let's go. I don't care. Let's go get shot but whatever you know and that's that's the thing is that when you have that relationship and you've built that trust you can you can jump. That's right right. Stay with this. It's powered by the depre- financial group. It's Tom Aparicio power power. Give me that power our got Philip Sexton guy who good news very finally introduced by Gallia..

fiduciary advisor SEC depre Tom Brady America Goldman Sachs Sherry Detroit USA Tom Aparicio US Warriors Philip Sexton Goldman president and CEO Sachs Lisbeth croce Karen Bar
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

05:54 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"The government to get a warrant to search home and that meaning applies equally whether the government seeks to conduct us a search the old fashioned way by rummaging through a place or in a more modern way by using thermal imaging device nice to see inside whether it's the constitution's prohibition on torture it's protection of speech or its restriction on searches the meaning remains constant right and even as new applications arrive so it would seem to me that those who wanna look at the the constitution as an outdated thing just just like people look at the bible that way human nature has never changed and man's desire to use power on his fellow man in ways that may harm him hasn't changed either so therefore the constitution as a reference <music> on human nature and ways to <hes> ways to limit my desire to inflict power on you is an unchanging document it views human nature as having to be <hes> curbed and in this sense. It's it's an unchanging document just as the bible is an unchanging document in the same way. The constitution is short. It's only about seventy five hundred words including all its amendment. It doesn't the dictate much about the burning social and political questions they care about these are for living constitutionalists people who want to change the constitution to match the times see. This is our problem now dave we want to change change things to fit the time instead of living by eternal principles and laws. We feel like it's necessary to change them. Seems that the real problem for the critics. When it comes to the social and political questions of the day they care most about many living constitutionalists for prefer to have philosopher king judges swoop down for their marble palaces says to ordain answers rather than allow the people in their representatives to discuss debate and resolve them. You could say the real complaint here is with our our democracy utopian ass- and these are frequently left-wingers who want to dictate how we think how they think society should go want to have people smart people that they put in power to be able to call the shots whereas democracy republican democracy. Ah which is what we have in this country is a much more messy proposition. It requires people to debate elections happen. People get voted in get voted out and it leads to consequences and then you see changes take place that way originalism that is the idea of looking at the constitution toossion in its original intent is focused on process not on substance. It is not conservative with the big c focused on politics. It's conservative in the small seaside sense that has since seeks to conserve the meaning of the constitution as as it was written the fact is a good originalist judge will not hesitate to preserve protect and defend the constitution original meaning regardless of contemporary political consequences whether that means allowing protesters to burn the american flag prohibiting the government went from slapping a g._p._s. tracking advice on the underside of your car without a warrant or insisting that juries not judges should decide the facts that that increase the penalty you you face a criminal case in my own judicial career. I've written many originalist rulings with so-called liberal results so a judge that seeks to be an originalist on the constitution institution will not necessary way his or her vote based on what the current political <hes> political rages all right doc stay with us got philip sexton here. We're going to be talking about some things having to do with the economy and <hes> so the markets you listening to the tom debris show. It's news radio six thirty w e..

philip sexton dave six thirty w
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

05:48 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"I guess you know y. It's not eh putting you on your shades. You know put the call uh ugly something from ten year the old the stream green john back on the tom debris show joe walsh similar to tanya tucker and when did that album come out analog man came out. I won't say six years ago. Was it that long palmer six years ago. Wow feel like this would be like bose walkout song or something yeah i. I'm actually pretty hip on all the digital stuff. I can handle that very well but yeah i'm still. I'm still vinyl guy yeah yeah now. It's funny that we're playing because actually had this discussion with my uncle yesterday. He called me up in a panic because his ipod or iphone wasn't working right. He's he's like th they're gone. Song keeps playing over and over and over and i came around. You've screwed this whole thing up. I was like uncle daryl. It's on repeat dude so i got a trip to for sales as wake. You know all right. He's definitely an analog man yeah the they're not hard hard to spot thinning liquidity adds to headaches for traders <hes> philip sexton we welcome to the show how you doing today on. I'm great. I actually wanted to add to what you said in the first hour about the hurricanes and natural catastrophes and you know the whole climate change engine everything you know when you look back <hes> so we've looked at some reinsurance companies and you know for those either don't know what reinsurance companies are their insurance for insurance so a company like allstate may ensure a billion dollars worth of homes up the atlantic coast will ain't got the money to pay for all that ah you know right if hurricane doreen ripped through there so they'll actually write a policy with the reinsurance company saying after x. amount of losses you all step in that's right life. Well you can go back and look at earnings calls. <hes> you know so a company reports earnings quarterly and does a an update quarterly which is a call and answer q. and a. and everything <hes> back four years ago they were talking about <hes> historically low amounts of natural catastrophes atrophies you know and how the you haven't really seen anything major for many many years basically for almost a decade at that that point and now you're seeing <hes> things start to pick up. It's more like a a reversion to the mean bri or so than it is. Oh crap you know we're we're having more and more these so you're seeing <hes> and and actually actually what happens. During a time of fewer natural catastrophes is that the pricing for reinsurance becomes tighter and tighter. They're not able to price and get get <hes> margins that they've been able to get in the past yeah. It's kind of a twofold scenario. Where one is you know the longer you go without a catastrophic event of the less and less people think that they need you yeah. It's kinda. Why am i paying for this insurance appearance. I'm never going to need it. You know that's one one side of it but the other side too is. You've got all this private equity hedge fund money flown in saying hey. You can't go wrong here right now you you don't you don't lose a trial. They're going in undercutting on price so it's it's kind of a weird the thing of every once in a while you kind of need something like major catastrophe in the insurance world shake things up and let them realize and while they're paying the insurance and also <hes> you know in insurance world period. It's it's upset before you every once in a while. You gotta lose money money to make money right..

tanya tucker philip sexton joe walsh allstate john daryl panic doreen six years billion dollars four years ten year
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

05:20 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"Among <music> back on the tom to pre show <hes> there's a samba aimee mann and she's quite a songwriter and singer and we're going to feature a few of her songs since we did a rerun for the first hour. I'm i'm going to read a psalm for this hour. Psalm thirty two blessed to see who's transgression is forgiven. Hussein is covered blessed is the man onto whom the lord impetus not iniquity and in whose spirit there is no guile when i kept silence my bones waxed old through my roaring all the day along for day and night the hand was heavy upon me. My moisture is turned into the drought of summer acknowledged. My senate under the in mine iniquity have not hit. Did i said i will confess my transgressions unto the lord and thou forgave us the iniquity of my sin for this shell everyone that is godly prey on the in a time when now may be found surely in the floods of great waters. They shall not come down to him. Thou art my hiding place. Thou shalt preserved observe me from compass me about with songs of deliverance at psalm thirty two. I wanted <hes> before we get into the show here. I wanted to make note of the fact that david coke billionaire conservative activist and philanthropist philanthropist died at seventy nine. David coke was <hes> an owner of coke industries c. o. c. k. k. o. c. h. As out spell looks like koch <hes> and was a multi-billionaire he he was a a great helper to conservative causes and a great philanthropist in new york city. <hes> david koch regarded as more gregarious of the two coke brothers served as executive vice president of coke industries. He held a masters in chemical engineering hearing from the massachusetts institute of technology. He and his brother charles were tied as the eleventh richest in the world in forbes at the time of his death. He was worth forty two point four billion dollars. David and charles coke along with their brothers fed pressure. You can bill inherited the business when their father who founded it died in nineteen sixty seven frederick and bill sold their stake in eighty three and in nineteen ninety eight eight pursued an unsuccessful lawsuit against the other two brothers claiming they were cheated when they were bought out of the private company <hes> with the wealth from their business. David and charles coke helped to build massive conservative network of donors for organizations that worked mobilize voters news and sway elected officials in support of libertarian-leaning economic policies and they were greatly excoriated aided by the left anytime there would be <hes> <hes> some kind of event that they would have there would be people outside there protesting when in fact they were pretty evenhanded about a lot of things they founded the nonprofit americans reckons for prosperity which has spent more than a billion dollars over the past several elections to support candidates that adhere to their free market small government libertarian ideals <hes> deals while they distance themselves from the movement tatting instead classic libertarian ideals of brothers are also credited with helping to fuel the tea party while celebrated on the right the coke brothers are often regarded by democrats as a symbol of a corrupting force of corporate money in american politics so they were not without controversy but it should be noted that david coke was respected in new york city because he gave large amounts of money to things like the symphony the opera the museum of modern art things that liberals also enjoy so i think they liked him for his donations. We welcome philip sexton to the show good morning good morning <hes> now. We've got some interesting stories here that you wanna talk about this. One is interesting in my opinion on yahu finance negative. Interest rates are coming in. They are downright terrifying so <hes> this is an interview with against mohamed el arianne of pimco. What if i said i wanted to borrow one hundred dollars from you and pay you back ninety nine dollars five years later. Would you do it of course not and yet. This is exactly what's happening right now. In the banking systems systems of japan germany france and other european countries negative interest rates where the lender gets paid back less than they've loaned now..

charles coke david koch coke industries david coke aimee mann new york city David Hussein senate mohamed el arianne executive vice president massachusetts institute of tec museum of modern art philip sexton charles forbes
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

05:50 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"Back on philip sexton guy hewlett and elizabeth depre- in which stop in and we're reliving woodstock right joe cocker love love that's all this was his first introduction to the american audience sixty nine yeah woodstock that's where he really came into his own a a two o'clock on sunday afternoon two o'clock on sunday after sixty nine sixty. You know that i'll i wasn't even a twinkle. Go in my grandmother's eye. My mom was born in seventy one really yes. I was a young mother. I was hanging out at wheeler's pharmacy on romney road smoking cigarettes behind the dempster dumpster dempster them in nineteen in sixty nine i was i was costs is a testament to how much is now considered a stable member of the european union and especially given that as recently as two thousand eighteen total greek government debt was calculated at one hundred and eighty one percent percent of the country's gross domestic product now to put this into layman's terms that is the equivalent of <unk> owning one hundred eighty percent of what your house is worth on your mortgage right. Because what a country does when they borrow money they're borrowing against their ability to create over time same principle. That's their that's. It's their equity is their g._d._p. And they're at one hundred eighty one percent but the simple fact that they're backed by other european players allows them to trae down to a two percent or below on a ten year debt a picture that right you know a country that if some big players germany and france and a couple of others there's look at him and said we're done subsidizing. You would go bankrupt tomorrow. That's right. That's right so trades to that level. That shows you how starved the globe is but not just the united states. The globe is to produce deuce a nominal yield us right. What is the thirteen trillion in assets that is producing negative negative yields yields so that that from an uncharted territory perspective. I'm thinking to myself okay if they're willing to pay that for for the government debt of greece well then it makes sense that the u._s.'s ten year bonds should trade down to one and a half percent right or or even lower to be honest. Well the the guy j. p. morgan came out and said that he thinks the u._s. Ten years gonna hit zero. It wouldn't surprise because it's you look at our ability to service our debt where we're trading from debt to g._d._p. Standard all these things were still growing at a rate of somewhere between depending on whose numbers us somewhere close to two percent thin annually on g._d._p. Perspective about closer to three you know so all these things combined when we're at a heck of a lot better shape in greece yeah without question and we're yielding about the same exactly and and when you look at greece the biggest one of i think it is the biggest component of their g._d._p. Is government spending brides g._d._p. G._d._p. is made up of <hes> consumption government spending <hes> difference in savings and interest and exports. If.

greece philip sexton guy hewlett woodstock joe cocker european union j. p. morgan elizabeth depre united states germany wheeler G._d._p. france romney two percent ten year one hundred eighty one percent one hundred eighty percent eighty one percent Ten years
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

08:17 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"Decoding. We Got Philip Sexton in the House House guy he was here. Hey here we go to coating the labor market. Unemployment rate may not do the job what's going on there all right so we've <hes> when you look at you know interest rates and then they've they've raised them so many times now and you <hes> the arguments been all you look at the unemployment rate. It's you know the lowest it's been you know multiple decades and everything's great the economy and and this article actually touches on how the unemployment rate can actually be misleading. We've actually talked about this in years past on the show and the fact that there's you know labor participation rate <hes> doesn't reflect the same statistic <hes> so this is this is talking about it says <hes> you know in theory is so the U._S.. Unemployment rate last month hit three point seven percent one of the lowest US levels and a half a century in theory that should mean we're living in very tight labor. Markets or workers are scarce and employers are boosting pay and benefits to attract new hires that should push up inflation as firearms raise prices to afford higher salaries instead wage growth has been muted and inflation week leading economists to reevaluate how <unk> how they measure the labor market. You know I find this interesting because they start talking about <hes> <hes> so recent research has come up with new measures that suggests that job market still has room to improve without spurring inflation these measures imply. They're more people on the sidelines who might be induced to get a job or work more than they do now <hes> so the CO author this article so you've got Miss Abraham and Co author John Hall to Wander. I'm not also of the University of Maryland have created a labor market assessment that takes takes into account people who aren't in labor force but want to work and those with jobs who are looking for new opportunities. They also attempt now thought this was pretty cool. They also attempt to measure how intensely employers are looking for workers a guy. You've I've been in the workforce development for quite a long time and you know those is one thing to say. You've got low unemployment but then there's another thing to say that you know. Are You satisfied with the amount employee's you gotTA. Do you say hey. We need a hundred more right now but you know I wonder how many you know how many people really when you say low employment. How many people have just quit looking yeah? That's the thing <hes> I think there's a lot pinup demand on the sidelines. It's not being measured of people who don't count as unemployed because they've quit looking and when things began to happen they come in off the sidelines. It's flight pent-up demand. That's not showing and it comes into the market and it doesn't really look as if much is you know the low unemployment level stays as low but you would think that that would be driving wages way higher. There are a lot of people out there that simply haven't been looking for work that if decided to go back and look for work and they don't count as unemployed. That's correct in wages. Ages are increasing very rapidly. I mean listen. Average wage is good. It's just I mean it's it's it's better than zero right who were sitting on the sidelines making nothing and now you're making something but there's two classes of of people out there working right now. That aren't being measured. I think one is the senior citizens I call them. The renaissance workers okay now well. Let's let the thing about this. They they've retired there now working part time and you see them. We see them everywhere in their wonderful employees by the way insulting and things they're doing all types of jobs ups from consulting all the way down to being a greeter or working at the dairy queen. There's a guy in my hometown pass works at the dairy queen. He's a senior citizen. It's part time income most pleasant guy in the world old wonderful so you've got that worker. That's you know I think impacting this but then you have the what I call the second chance worker that's not being measured because they can't be measured because of job Bob requirements. They don't pass the background test. They don't meet the general needs and so they're out there working but you're not measuring them does that make sense Yup and I think that's kind of what you know. The Renaissance Worker really reminds me. It's kind of what Tom was was alluding to to. Though it's one of those you know if you've got really high scarcity then you're saying hey you know we. We need this guy but he's over here. We'll pain nine ten percent more than they're gonNA. Pay Me and you know that's how wage growth really works but then you know you got the the renaissance man sitting at home saying well. I'm kind of board. I ain't got may I think I may go back and you know go do that and then they say oh no. We've got this guy he'd worked part-time and you know he knows his stuff will pay him half of half of a full salary. You don't have to worry about fighting for the next you know fighting fighting for every every penny you can get yeah. It's you know one of the things that I wish we could we could focus on economically all H._R.. Managers would focus on this and unfortunately they don't and and I understand stand it too but but if we would focus more on hiring the unemployed instead of the employed it I've I've seen it for years. You tend to see that the H._r.. Manager the hiring manager Enger says all well you know they're unemployed. There's something wrong and so they focus more on hiring somebody away from another company think about that if we would focus on the other side of it what it really would do it Kinda understand what I'm talking about here. Yeah I do understand what you're saying. I think there's a reason why they go after the currently employed is because that's a known quantity. They know what they're getting the right burden. The hand is worth two in the Bush conwright scenario and you know the other thing about the employment market today technology has changed everything everybody's looking for a job every day with all these APPs and programs that they can can tap into their constantly being notified of this job or that job they can apply in a very stealth manner. Nobody knows what they're up to and we'RE GONNA hold it for world terms of this and I think it's going to be very sorry. We can't measure our economy anymore. Like this article says strictly by an employment and that's what I was wanting to get to is is that you know you look at statistics. Statistics can be so misleading. Nowadays you know you I mean even when you're picking a stock doc you can look at certain numbers and they can be very misleading kind of one of the best things you can do. Is You know you can call a doctor is an analogy you can call Dr and tell him all your symptoms and he can guess the best thing at Dr can do is look at you. Yeah now the best thing you can do for the healthy economy walk outside here. Look at what's going on. Get Out in the community. Look at what's going on. You know you're looking at at a company company. Go kick the tires right. See what's going on. It's good points good point. Stay with us. You're listening to the Tom depre- show newsradio six thirty WWL EP election.

Tom depre US Philip Sexton House House University of Maryland TA Miss Abraham John Hall Enger Bush nine ten percent seven percent
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

04:55 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"Back on the Tom Brady show. I can't listen that Allman brothers stuff without getting the style GIC go so pure. It just puts me in a good mood. Yeah. All of it does. Let's why we're going to his mama brothers. Okay. Not that I was in a bad mood in the last hour that case it all I understand. Well, when you mentioned, the Lao Allman brothers and Marshall Tucker band, it's it works. Philip. Sexton. We welcome to the show guy who glit- also. Good morning mister Perry. You really liked the last hour. The last hour was great. And you were talking about how you had seven listeners, you actually had nine because Philip an hour, driving, and listen to you. But tell you what you just lifted me up my friend great. I'm glad to help somebody just glad to be of service. Views. Well out here he'd lie. We'll get a little religion. Let's go. Let's get for the lower. Yeah. There you go. That's right. That is one thing that a lot of the does the euro's churches still do. Revivals. No. But I've been to couple because mine does. Yeah. Muggy ready to have a camp meeting. This is the faith victory church over in Frankfurt, getting ready to have a camp meeting in July. We'll see growing up my church used to have two year girl church. I got married at you. You were there. And I think that I haven't seen them have a revival in. Probably eight plus years now that right? Yeah. They usually get in another preacher will come in and no. No. The whole point of a revival is you get tired of listening. Same guys. Thanks creature. Same preacher, also great recruiting to. Oh, yeah. All right. So we're going to talk a little bit about business hear annuities and 4._0._1._K's won't solve the retirement crisis. Why's that proposed US legislation? Would make it easier for employers to offer annuities in four one K retirement plans provide retirees fix payments for as long as they live. Does that make investments since? So it was from barons, and, you know, we talked about this last time we were in the secure act, which passed the house with something like almost ninety something percent of the vote, which, you know is unprecedented, today's world but. It talks about, you know, annuities are currently allowed in 4._0._1._K plans, but they're very uncommon less than ten percent of 4._0._1._K plans offer nudie options, according to a survey by plan sponsor councils of America Americans actually held eight point two trillion and employer-sponsored defined contribution retirement plans as of March thirty fires and five point seven trillion of that was in 4._0._1._K plans. I remember when the four one K was just getting started back in the late. Seventies there was nobody had them. Yeah. And it started kicking in, and that this is how much is now gone into these things, and that doesn't even count money. That's been rolled out of them into those are huge numbers. That's just an nine states y'all massive that sets our market. That's who we right after. Yeah. And the reason that annuities are such uncommon thing is employers have shied away from including annuities or entire. Planes over lab -bility issues. Participants might sue an insurance company in the plan goes belly up or fails to pay claims. That was actually a very common thing in two thousand eight when the big downfall hit the market. So Mitch helpmann financial service council at the consumer federation of America, nonprofit consumer advocate says the legislation language is too broad, and may allow for the inclusion of high cost the noodles, the provision doesn't apply to a narrow segment of nudity says it applies to all he's some are consumer friendly, but there are other types that are complex with high costs and are not in consumers best interests. Going. Why would somebody using the nudity to begin with in a 4._0._1._K plan when, you know, they've been outperformed by index funds and buy so even. Yeah. Types of funds. That's kind of what you know what I was wanting to get into you. Thanks for the segue there, 'cause I try and figure it out. But an annuity adds an.

mister Perry Philip US Allman Lao Allman consumer federation of America Tom Brady Frankfurt America Mitch helpmann Sexton Marshall Tucker four one K ten percent two year
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

10:59 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"Bye bye. That is saying base. In this guy. Lord. Tom show. I didn't know you're gonna play that one. It warned me. Well, no because you would have had more time to think about what you were going to do when I liked you kind of off the cuff there. Geico was some now we're going to do some Father's Day stuff today. Okay. Great. Well, welcome to the Tom depre- show. This is the hour in which we talk about financial markets and things of that nature. And we take calls we looked like we might have one here. So we'll, we'll do that, if if so if need be. But I have with me, Philip Sexton, and Philip, good morning. A morning guy L. We've got John short. We got to let him jump in here. John short. Good morning. Very mayor. Can thank you. Do you like to Johnny cash song? We just played it came in nineteen. Sixty eight did it really. Yeah. He, he didn't was Jane hired in the Senate brothers. Leave it to John to know when and where if it has to do with country music. That's your hiking, just 'cause she's the only great seniors and the only countries have one of the great things ever. Yeah he is one of the greater ones. Well, Jodie Meeks got to be on the NBA championship team. I think when they NBA tree looking silly terminate just mutual coordination and just play your best game win. So there we go. Long playoff best of seven. There's a thing called ticket sales. It's gonna get in the way, TV revenue. Yeah. Exactly. What would you do all the sports fans to bring the military ramp back? There's no no transport say it's a military drafting that Vert ran back. Home back with it. I guess they could draft me. I'm I'm on up there. You know, to do something military. Yeah. They'd be the financial. That's right. That'd be good. And Trump was losing to abide in he's safe, and he's gonna win like it didn't twenty sixteen. I think there's something fishy going on with that, that, you know, I I it's they're catching people who descend they want to change. And. Yeah. I think he'll I think he'll win in two thousand twenty I hope he does. We him to death and learning California. Don't pay for. University, healthcare, you pay the penalty her this true in California. You don't favor universal you held any nail. You gotta get the phone. We'll talk to you. Bye. Good old John. So, you know, it's campaign trail time with the Democrats, especially they're out there and throwing all these proposals around one of them has been that Amazon pays no taxes. You know, another one is break-up Facebook break-up. Some of these companies, I see where Elizabeth Warren just introduced a Bill. She wants to cancel up to fifty thousand student debt just pretend like it doesn't exist. Let the government absorb it, you know, giveaway plans all over the place. That's how the Democrats get votes is promised to give things away. But, you know, Philip, you did a little research, and you have an article there that shows that Amazon really is not getting off scot-free like people say they are well, so, you know, you can tell when he jumps in that way. Well. Role. So there's an article in the Wall Street Journal, and it's titled does Amazon really pay no taxes, and here's, here's a complicated answer starts talking about Joe Biden so earlier this week. Former president, Joe Biden spotlight VP, former VP. Yeah. Foreign vice presidents. Sorry, I skipped that he ran vice party ran things. So spotlight of the company's tax payments during a campaign, stop and all this week saying it should be it should at least pay some taxes. He tweeted Thursday, no company, pulling in billions of dollars a profit should pay a lower tax rate than firefighters, and teachers. So then you've also got Elizabeth Warren who cited Amazon as she proposed a new corporate tax law, which would have cost the company nearly seven hundred million in twenty eighteen. So I'm gonna just throw some numbers out here you're doing with an article, right? Yes. Yes. Okay. Now, I'm gonna do some numbers that I've looked up. All right. Okay. So Amazon today, employees, six hundred and forty seven thousand five hundred people. When you go back to twenty fourteen that number was one hundred and fifty four thousand one hundred people, so they've been able to do to their lower tax burden quadruple effectively, their employment base. And then let's say the lowest paying job at Amazon is a fifteen dollar an hour job. You know, then the highest paying is in the millions, of course, when you think of the CEO, so I went very conservative here on a forty thousand dollar average salary forty thousand you'll end up paying after you take your standard deduction, every single one of those six hundred forty seven thousand people will pay eight percent in taxes or roughly about three thousand dollars. That's a pretty good chunk of change and not to mention so the argument is that the corporation doesn't pay any taxes, that, that Jeff Bezos, this big, monster doesn't pay any taxes. A really when you look at Amazon, it's a publicly traded company, it's owned by shareholders. Of which we have a labor force of one hundred sixty million people fear edit so vanguard. You've got companies like vanguard BlackRock State Street, all these companies that own shares in their ETF some mutual funds, and Amazon. You know, in this and P five hundred Tf, they'll have to buy them, as on in, you know, all the growth, ATS, Amazon. All these ETF's Amazon Amazon, I am. I am. So you're saying that actually the retirees so own stock in it. Yeah. So when you when you boil it down of that hundred and sixty million labor force about forty four percent of them contribute to a 4._0._1._K. Right. So that's seventy point four million people in a 4._0._1._K, I would say, a good chunk lows have some Amazon in their 4._0._1._K, not to mention when you think of, let's say, you know, Kentucky teacher's retirement system. I think there's some Amazon in that, you know, California pension probably some Amazon in that you, you bowl it down and then people who are retired. So you've got forty seven point eight million people over the age of sixty five let's just say, theoretically about half of those are retired. So that's another twenty three point nine million people. So now I'm at ninety four point three million people that basically, what you're saying is we're going to tax Amazon heavier, but when you really bowl it down, you're taking ninety four point three million Americans and saying, we're gonna cut the amount of profits that are going into your pocket from the investment that you get in politics. It's perfect. You know what? What's interesting about what Phillips saying here that I love. That was good. Philip is really, really good. Excellent story. But it really ties right back into who we are pre. We do the research. So here you got all these politicians out here saying the things that they're saying about Amazon, and all these other big corporations. They want to take down. I think one of them wants to seventy percent tax rate, but that's what Democrats end up doing. That's right in, in, in the problem is the American people in general. This is what that bothers me is they believe what they hear or what they read, and they won't look underneath the hood to see how the engine has been put together how it actually operates what Philip just did, here's he looked under the hood and here, you know, this is a bad, bad plan for a lot of people. And then the same the same argument is that not, not enough Americans have enough retirement savings. And we've got to figure out how to boost the ability to retire in America. Right. And see it depre-. We. We do the research. I mean that's a big part of who we are. We get we get underneath the hood, we really understand. Yeah, we're diligent guide. We're forthright with our investment approach. Okay. We're gonna tell you the truth, and we're going to tell you what you own and how it works and why it works and good. Good good analogy. I will say this so about Amazon to boy, they've, they've had an incredible impact just on our community big time. A lot of folks may not know is they got a call center and Clark county y'all their employees. I don't know a couple of thousand over there twenty five hundred. I don't know how many thousand they employ here at the distribution center, and then they're getting ready to open up a airport overnight air up in northern Kentucky. You used to know used to kind of have some insights on the tip. I did. When I when I used to work for Adecco when they first came to Lexington we had that, that. Seasonal contract for for Amazon. And one of the things they do that. We all need to give them credit for is. They'll give a second chance worker a chance. That's great. They will they only give them one chance though. That, that's the one thing Amazon's they'll give you a shot. But if you if you get cut you're out stay with us. You're listening to the Tom depre- show. It's NewsRadio six thirty, wwl P..

Amazon Philip Sexton Tom depre Elizabeth Warren Geico Kentucky California Jodie Meeks NBA John Wall Street Journal Facebook Joe Biden Jeff Bezos Clark county Adecco Lexington Johnny Vert
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

02:32 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"For two decades right now. So not a consumption driven economy. Exactly. And that's that's all that's the that's an. Easy thing to gauge statistic you talking about statistics as an easy statistical method, you know, the the job forced shrink about five hundred thousand this past month where they're just they're out of the job market, which indicates the more baby boomers starting to retire, which you know, bodes well for pre-financial group. Even when you're in retirement, guess what? He's still got to consume dry part of the economy. You need you need income, which is what we try to provide with our accounts is we try to invest our council in our clients accounts in such a way that it will produce dividend income to give them the necessary money that they need in order to live and and do business without dipping into their principal without liquidating their principal on, you know, it's it's something that it affects everyone in retirement. And you you gotta you need somebody on those out of the table who's going to be candid and forthright diligent with your portfolio. So give us a call eight five nine two three three zero four. Four hundred you can also look up on Facebook look up on the web. You guys got your Kentucky Derby picks, ready all set nine cutting humor at pick Philip. Honestly, I don't even know the names. I sent I sent fifteen dollars with my father in law. And I said I want seven ten and nineteen five dollars each to show their nineteen there. Yeah. There is a nineteen nineteen is spinoff six teen nineteen previous Turbie winters started with the letter s there you go. How about that? Who you who's your pick Tom Tacitus Tacitus? Okay. So let's go have some fun go. All right. We appreciate you. Listen to us today. Thanks for tune-in. Been listening to Tom depre-, Philip Sexton guy, Hugla, it's the Tom depre- show. It's News Radio six thirty p.

Tom Tacitus Tacitus Philip Sexton Tom depre principal Facebook Turbie Kentucky Hugla nineteen five dollars fifteen dollars two decades
"philip sexton" Discussed on The Tom Dupree Show

The Tom Dupree Show

06:44 min | 1 year ago

"philip sexton" Discussed on The Tom Dupree Show

"This is the talk to three show on News Radio. Six thirty wwl AP and wwl AP dot com. Well, I guess you know, why? Where? Not at all. Putting you on your shades. You know, put the cough. She kind of good. She he was. Is ballots. To come down. Come down to pre show. More Tom petty. Great lyrics. Yeah. Where'd you find that one? This this one didn't make the final cut for full moon. Fever. This is what we play. For the last hour here. This is called down the line at actually the b to run down dream. I believe now it's a free fall in the B side of free fallen, okay? And it was written by petty and Mike Campbell longtime member of the Heartbreakers. But lot of that album was produced by Jeff Lynne, you're like or. Electric light orchestra. I didn't realize this beside existed until about a month ago when I heard on Sirius XM about recommend car. I thought it was so good. And immediately downloaded what's it called? It's called down the line. Yeah. So it's kinda got that stacks Memphis infield that always like doesn't even sound like Tom petty doesn't and now I didn't think so either, but we all know petty can do anything. Yeah. Good. Do anything. Good. He's. All right. We have Philip Sexton. Here forget socialism versus capitalism. Here's the real debate. We should be having this from Bairns socialism is storming back because it is formed in incisive critique of business. The article warned talking about an article in the economist and most newly awakened socialist. Or young people more than half of Americans aged eighteen through twenty nine have a positive view of socialism. According to Gallup, while only forty five percent of positive view of capitalism. Socialism's renewed vitality is remarkable. The magazine concludes with a mix of admiration and trepidation. So what's this all about Philip? You got it all marked we're capitalist. Here. We are. Why are we even talking about this? Well, because it's it's concerning about the future. You know? I mean, you look and over over fifty percent of my generation are socialists. And they they think they they're not smart enough to know what they are. They're just they think they that. Socialism sounds good. But they don't really know what it is. Yeah. On these are the people that I've got to grow old with and it bothers me. Yeah. Well, that's true. I think you know, when you when you look at it, though, it's it's really started to grow. You know that mentality has started to grow for multiple decades. You know, it has just this this this decade. You know, I I think of one thing participation. Oh fay's. Yeah. All that's good one. Yeah. That is socialism at its finest. It is. And that's it actually talks about it's it's not a so they use the word. Instead of a socialistic economy. It's it's it's oh, yeah. Of instead of a market economy. It's a market society. Yeah. All right. I've got a guy holding here who knows about socialism. He has a good word. He uses to describe them's called Bolsheviks that you John. You like to talk about the Bolsheviks. Don't you right? So what's going on on it just lead we need all those most recently a loving way round vicious ones in Washington DC? New says he they in there. Yeah. The the new show, social Bosheviks socialist Bolsheviks. We wanna to make sure trying to get as he needs as well on your way. Any as well. Right. He's getting he's getting some of the money looks like and he's getting some construction done. John what what about our game with Auburn today? What what are we going to do in that limiting begins? Okay. I'm afraid that the reframe is for the year. I noticed saying to I don't believe I think he's out for the rest of the season is over with. I saw downtown walking on a crutches last night. Yeah. That's not good walking on crutches. I seen right then. And there what he sees that over. Well, I'm sorry to hear that. Because he's been a great player and another thing two weeks that I don't believe that. I think is one of the nad, right? What about Xilin is just as bad or? He's funny out to for the rest of the year. Really? I hadn't heard. No. They said they said that Zion day-to-day. Yes. But they didn't say that about re Travis correct? And a Saint two weeks. But I don't know anything turn out. I know he was on crutches last night because I saw him when I was walking back up the street from where you were he was going in twenty one c. Yeah. All right. Sure was.

Tom petty Philip Sexton New Travis John Jeff Lynne Fever Mike Campbell Bairns Xilin Gallup Washington Memphis fay nad Auburn two weeks forty five percent fifty percent