Transcripts For FBC Bulls Bears 20240714

Socalled wall street tax, placed on the sale of stocks and bonds. So will this appeal to voters even those who hold stocks in their Retirement Savings . Well, im not sure it is going to. It is all about how you brand it; right, david . Hes branding this or at least as they are mulling it over they are branding it as a tax on wall street, but it isnt. Think about how many people have equity and Bond Investments on main street. If you have a 401 k , if you have a pension, if you have any equity related investment, this is going to hit you. Now, it may seem a little bit less extreme than the wealth taxes that sanders and warren are proposing and hes in a tough spot because he needs to go a little bit more left, but he needs to make sure he wont cannibalize his base and this could very well do that. Well, okay, okay, lets just forget the notion of how weird it is that you will get your poll numbers to go up by proposing a new tax. David good point. Thats a little hard to grasp. I dont like any taxes related investing, but the reality is this a collectible tax as opposed to a wealth tax which is difficult . They do that in a lot of countries, granted we have a better stock market than most countries. We already have this, it is a very small fee, that goes to the sec. You are talking about radically increasing that to the levels that exist in other countries. I think it will help from a voting point of view. It sounds crazy, if you look at this way, we already pay wealth and transport taxes, your local authorities are causing high fees to transfer deeds, you can pay 1 to 2 percent a year to own property. Stock investors dont have these problems right now. I foresee in the future with rising socialism, they will have those problems. It is a question of how they will be implemented on jackies point, if you were to do a blanket tax, it could hurt the pensioners and savers, but if you were to say confine this to institutions that do more than ten trades a month, you create a threshold, this was mulled in 2009 and 2010 as a way of trying to offset programatic trading. The algorithm trades were perceiv perceived you could cast this as were not going to touch your 401 k if you want to trade ibm stock, but we are going to say if you do 500 trades a week, you will pay 2 cents a share and 10 cents a share. I think that would be popular and i dont think it would do a thing to dampen actual activity. Gary . From a political perspective, its very smart, i think because what biden is doing is like all the democrats are doing, they are picking on what is perceived to be the rich. Look, the fact of the matter is, per jackies point, most people dont do a lot of trading. They are in 401 k s, they are in mutual funds. They are invested. They dont trade a lot in and out. Zack made the good point, who does a lot of trading . Pension funds, hedge funds managers, day traders, people like me quite frankly we do a lot of trading, this would hit hard. This would cut down on liquidity because if you are like me and i have to rethink my whole Business Model of trading, most people arent like me. For better or worse, they are going to say yeah, lets stick it to the other guy. Is this a fair thing to do . I dont think so. But does this appeal to 90 of the population out there . It absolutely does. Unfortunately. Even if what you are saying is true, and it only affects wall street, right, you know, they may not notice it necessarily on individual statements, but overall, in terms of the aggregate, i dont think they are going to be very happy about it. And there are a large group of wall street people that are moderate democrats that would be very, you know, apt to vote for joe biden if he was a candidate. David just for the record, according to the federal reserve, and they do pretty good stats on this, 73 of stocks are owned by folks over 55. So i mean, if they Start Talking about this, even if its true, zack, what you said, that it will only affect the high volume traders, the case can be made to scare people, and i think the voters the voters elderly will say wait a minute, dont touch my stocks. I push back on garys thing if you do a schwab account and the trade is 495 if you had to pay 530 or 540, those trade five years ago were 9. 95 the amount of costs per trade are getting favorable because they do both trades through institutions, i dont know that would actually change any david you are talking about higher taxes, jonas, right, you talked about that. I would like to first of all, the Retail Commission heading to zero, we saw a broker launch that very recently. It is going to go to zero, then you will notice any cost because thats what it will be is a cost. I would like to note this mysterious 401 k doesnt have a burge of stocks you buy bunch of stocks you buy and hold it in, it has mutual funds and those are institutions and they trade stocks. They trade. Its not an index fund. Even an index fund has to buy and sell stocks with flows that go in and out of the fund which would be hit by this tax. It would be a drag on everybodys investment. Obviously a High Frequency trader would pay it more as a percentage of their profits than a buy and hold investor. You are not Warren Buffett with a handful of stocks where youre just owning them for 20 or 30 years and be no taxes to pay. Youre typically invested in actively or index institutional funds. Thats where everybodys 401 k s typically that are iras are invested, even with etfs, it is the same thing. David go ahead, gary. Let me make another point which i think is interesting. You know what i found fascinating by all this, biden never says what the tax is for. Why do we need it . There needs to be some argument im sure no democratic candidate maybe no republican candidate will ever have it, but the thing is why do we keep wanting to put more money in government . Is there anyone out there that said yes, you know, i had this dollar, but it was better spent by the government than me. I mean thats always to me the overriding argument. Well we just need more money and people are like yeah yeah yeah we need more money for the federal government. I never know why we need more. Why cant the federal government shrink in size . But maybe thats an argument we will never have. David im always remembering walter mondale, the last person i remember who ran for president im going to raise your taxes and he lost pretty handily. We will see what happens with this. Its been 12 days on the picket line for autoworkers Standing Firm with gm. It is having a ripple effect. An owner of a gm dealership in michigan says it is about to get real nasty. 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Gms doing a pretty good job of mailing us some of the smaller parts and weve got a program right now where were buying directly from the you know, the some of the filter factories and that kind of stuff. So theres a delay. And cars are sitting. I just think the longer this strike goes, the bigger the delays and the more difficult it is to get the critical parts. Gary, a lot of the discussion around this has been over what kind of cars gm is going to make, big cars or small cars, electric cars. This has been a huge issue for 10, 15 years as Different Companies try to figure out what the American Consumer is going to buy and what the price of gasoline is going to be. On the ground, one, is it really that sensitive . People go from, you know, one year they are doing small and one year they are doing big, or is it, you know, near mine, more of a mix of things and that whole template is a bit overstated . Well, i think the you know, buick im a buick gmc dealer and we have some wonderful sedans but theyve just slowed so terribly. You know, they arent selling. And so i think gms had to shut some factories and that hasnt helped anything. I have i was at a buick gmc dealer meeting last thursday in detroit, and i walked out of the room more excited about gm than i have ever been in my life. I have been a dealer since 1980. I think we have some dynamite stuff going. Buick is going to be a really good suv premium franchise and our gmc truck is going to be a premium truck. Im excited about it. I think theres a bright future. Gary, gary smith here in florida. You know, im curious. Im going to put you on the spot. The labor cost per hour for gm is about 63 per hour, when you wake in for the average when you bake in benefits and healthcare and all that for the average worker. Heres my on the spot question, number one, do you think longterm, and i know you are a gm guy we can compete with the asian auto manufacturers which pay 50 an hour, and i know you have gm products in your line up, have you ever sought to acquire any of the Asian Companies as part of your dealership . Well, i started out as a pontiac dotson dealer in 1980. I was a nissan dealer until 1988. In my particular area, we do much bet we are the domestics. In my particular area, we do much better with the domestics. I dont know that. I dont have a foreign franchise in my town. Is that because you are in michigan . Because im in michigan. Im in adrian, michigan. Right. And certainly, you know, the asian manufacturers are strong competition and yeah, were going to have to be competitively priced, no question about it. No you are right. I would like to take that a step further, gary, part of the dispute will include also raising wages, increasing benefits as well. Gary smith laid out nicely what the disparity is between, you know, manufacturers in the United States and asian auto manufacturers. Im wondering when you look at this, you cant squeeze blood out of an onion, how do you solve these disputes . How do you resolve this . Well, i think they have to find a way to Work Together to make this thing all work. I mean, General Motors is spending a lot of time trying to make sure their dealers are profitable right now. They are working really hard. I cant expect a dealer to do a good job for me if he cant make any money. I think the same philosophy has to probably be with the employees, they have to have good packages and we have to make it. But gm has to make money too for this whole thing to work. It is complicated for sure. David jonas . Gary, jonas farris here, from ann arbor resident. You said you cant certain things transmissions etc. , i think other automakers and gm changed their supply chains to weaken unions so they cant strike and really shut down things. What percentage of your like things you really use every day like oil filters and stuff come from other countries now and arent really going to be interrupted by this strike, including what percentage of cars roughly at this point from mexico or wherever that would be, would you say, compared to way back when you were in the business 1980 first . Well, theres certainly a lot of parts coming from all over the world. I think the problem right now is we have these parts depots where all these parts are stored, and then i have a parts truck that comes to the dealership once a day loaded with all the stuff i dont have. And that parts truck has been really really stopped or slowed down i mean, we just arent getting parts right now. So were scrambling around. Were buying parts from other dealers. We are finding parts wherever we can find parts, you know. It is not just like one day we wake up and we cant buy any parts, but it is every day as, you know, it gets harder and harder to find these parts and other dealers are saying hey, im not giving up anything anymore. I think this is going to be, you know, a while before we settle this strike, and im going to keep my parts. David gary, weve got wrap, but i have to ask whether theres pushback in the neighborhood against uaw. A lot of people think they are just using this strike to take their corruption scandals off the headlines. Not really. You know, ive got ive got lots of good friends that are uaw, and i have a lot of good friends that are gm staff, and you know what . I just think we need to Work Together to make this thing go and continue on. David youve got a good attitude, gary. Thats why youre successful. Gary clift, thank you. I love the business. I like being a car dealer. David i could tell. You were ready to sell your sedans off the lot. We may come over and buy them from you. Appreciate it. David appreciate it. Best of luck. Thank you. David Bernie Sanders on the hot seat over medicare for all and how to pay for it. Stephen colbert asking him the same question Elizabeth Warren refused to answer. Is there an increase in taxes on the middle class to pay for medicare for all or rather where would the tax burden go to pay for that . David bernies response, coming next. All Money Managers might seem the same, but some give their clients cookie cutter portfolios. Fisher investments tailors portfolios to your goals and needs. Some only call when they have something to sell. Fisher calls regularly so you stay informed. And while some advisors are happy to earn commissions whether you do well or not. Fisher investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. 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We exempt the first 29,000 of a persons income above that in a progressive way with the wealthiest people in this country paying the largest percentage, people do pay more in taxes, but if i say to you, that right now youre paying 20,000 a year in a tax called a premium for the insurance companies, thats gone david so are americans willing to pay higher taxs if they think healthcare costs will go down . Well, you know, david, its an interesting and quite frankly complicated question because what people dont realize is there is zero doubt, as the government takes over more and more healthcare, its not just the cost equation. Its the quality of care. Its the wait times. It is all the things weve seen in places like canada, united kingdom, that people dont think about. And theres this i guess this willingness to suspend disbelief that again even though no one if they ask personally what Great Service or product you get from the government is fantastic, everyone would say well, nothing. They are all willing to subscribe to the sanders plan or Something Like that, well were giving money to the government and it will all be cured. Look, i think first of all there will never be able to keep costs down. And if that i do, the and if they do, the quality will be horrible. If you give that kind of binary equation, yeah, most people will say sure, healthcare is costing me a lot. I can pay less and assuming get the same quality, they buy into that. But it is all make believe. It is interesting, first of all, bernie is being at least sort of honest compared the other candidates where they dont want to talk about how it is paid for. It is paid for by taxes thats how it works in europe. Hes going down the path of going down progressive taxation. Thats how sort of medicare is paid for now. In european countries, it is not progressive taxation. It is sales tax. It is vat taxes, where the middle class pay for their health insurance, whether they like it or not, but thats the way it works. Whats bernie proposing is it would be largely shifted on people who make more income. Medicare taxes dont cap out like Social Security taxes. Someone making a Million Dollars pays a lot of medicare tax for very little benefit. If the consumer had to pay the bill, just like a premium for medicare, nobody would like medicare. They like it because other people are paying 80 of the bill through taxation or Something Like that. And thats the key to expanding it, is getting somebody else to pay most of it through high taxation. Thats how obama care was solved and thats largely paid for. Thats the only way progressively to get it done. The fair way to do it is in europe, across the board, nonprogressive taxation. David specifically you are talking about a value added tax; right . Yeah. The reality is for a lot of people the tradeoff is not between long lines, rationed care, it is just care that they cannot afford. So theres enough people in this country where obama care did nothing to help the cost curve, where they are going to trade, you know, bad Service Healthcare for unaffordable healthcare any day of the week, and that unfortunately is the debate that were in, but i dont think saying hey, youre paying far youre paying money you dont have for services you dont always need by paying such egregiously high premiums. You are not going to pay high premiums but you may have to wait two days, most people are going to take that. Most people are going to take that are in that segment of the population that didnt have healthcare. If you are in the segment of the population that has employer Given Healthcare and you like your healthcare, things are cheap for a reason. Things are given away for a reason. Typically people are very skeptical of them. The people who have healthcare that like it are not going to be supporters of this. David the bottom line i think gary you hit upon it, is that you have to always decide between cost and quality. If you want higher quality, the cost goes up. But, you know, the government doesnt care about either. I mean, because they are spending other peoples money. If you are spending your own money, you care about both cost and quality. If you are spending somebody elses money, you dont care as much and well have the Government Spending the money now. Some bureaucrat will be spending the money. Exactly, david. There will be no there will be no incentive for innovation. There will be no incentive for cost efficiency. Youre going to get imagine if the government ran supermarkets, theyd be like a communist russia back in the 50s. There would be four skus of soup and thats b it. And thats about it. It would be horrible. When you look at other countries where people talk about the system working, and they want to model our systems after those, remember our population is very large. In order to facilitate and to cater to the population that we have here in the United States, there will be lines. People will not get the care they need. And that is something people should consider carefully. David there are lines, plenty of them in a lot of socialist medicine companies. We need to leave it there. Thank you, jonas. The president supporters crying foul on the whistleblower support saying if it wouldnt hold up in court, so is there enough there for an impeachment . Former federal prosecutor doug burns responding coming next. At fidelity, we believe your money should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Of the value youll find at fidelity. 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You would concur, would you not, director, that this complaint alleging serious wrongdoing by the president was credible . Its not for me to judge, sir. There is an allegation of a coverup. Im sure an investigation and before this committee might led credence or disprove that, but right now all we have is an allegation, an allegation of second hand information from a whistleblower. I have no knowledge of whether or not that is true and accurate statement. David lets bring in former frl prosecutor doug burns. Former federal prosecutor doug burns. Critics are calling the report hearsay. Here we have a copy of the transcript. Here we have a copy of the whistleblower report. There are distinctions between the two. Yeah, in the complaint, were going to call it, which is that letter report it says right in there that the witness does not have firsthand knowledge of a lot of the the early. As a trial lawyer for 34 years, obviously hearsay is timmy told me a b and c, well you need to bring timmy in so you can crossexamine him. Thats not a political editorial that therefore all the information is invalid, thats not the point. Lawyers work with fundamentals. Hearsay is hearsay. David an impeachment that is based on questionable interpretations, a Third Party Source about a 30 minute conversation, is that enough for an impeachment . Absolutely not because the point is, first of all, everybodys screaming hysterically that theres a coverup. Excuse me, we have the tape. What are we talking about cover up . They may be credibly arguing the only reason it was disclosed is some other ancillary reason. Thats fine. We sit in Conference Rooms and courtrooms for 30 years debating two sides of the issue. On one hand, hes enlisting a foreign country for the 2020 election, you can argue that, but then theres a converse argument which is that hes trying to get to the bottom of what happened in 2016 which is the very thing people have been saying. In life there are three versions, the first one i laid out, the second one, and the truth in bre between the two. And the truth in between the two. When they got the transcript of the phone call and realized there was no cover up there, then they started to say the cover up was in the matter of where they were storing the transcripts, how the material how the material was transcribed and the president s team had a rebuttal for that basically saying because of these leaks they needed a more secure way to store this information. It is remarkable because you see pivot after pivot after pivot in all of these political [inaudible]. Many of have said that criminal law and politics dont really mix. They make one argument, first of all, what jumped out at me is they are arguing about what it is before they have even seen it; right . Theres nothing more fundamental than that. Your honor, this type is outrageous. Well, mr. Burns, have you heard it . No, your honor. I would be laughed out of the building and possibly even held in contempt of court. These people are way out in front. Then to your point, though, because you are so right, when it turns out it doesnt support what they are saying, then theres an immediate pivot move which goes into more media cycles, like, can you just pivot and thats it . Everybody is spinning everything. The reality is by the definition of the acting dni, it is a credible complaint. The process is, you then investigate that credible complaint. As you just said, you talk to the people that are referenced there. You hold hearings. If people want to say if what is alleged in this complaint proves to be true, that is a major issue. Thats a legitimate statement. Theres only one problem 99 of the people on television are not saying what you just said. Hold on. Kudos to you. Okay . Im a lawyer. You make an allegation, were going to look at it, interview witnesses, look at documents and go from there. You are 100 right. I think were done. [laughter] no, i mean, exactly, thats it. David go ahead, gary. Doug, gary smith here. Hi, gary. By the way, whenever you are on, i always think your title should be prefaced by the great doug burns. I appreciate that. You are fantastic. So you have seen both sides. I think you are very balanced. Thank you. Put yourself in trumps lawyers shoes. Youre giuliani. What is your advice right now Going Forward from that perspective . Thats a fantastic and im not just returning the volley of praise. The standard advice is very fundamental, lets not overreact, keep our heads down and not say too much, keep the cards close to the vest. If you want to make statements, work off of what zachary said, it needs to be looked at, we will look at witness interviews, documents, emails, text messages, thats way you play it, dont overreact. I think the democrats not to get in the political weeds but on many many levels have overreacted very very harshly. This is it, we have got him. Their anger and emotion has overrun logic and reason on many levels. David jonas . I dont want to rush to judgment either. Your point is people are assuming what they have already concluded. Whistleblower laws, i know theres different rules for the sec or irs, but a lot of it i would imagine is not firsthand, i overheard this. I saw this guy cheat. What percentage would you say are not firsthand, like i wasnt in the room so to say . Before i describe a percentage, i want to work back to the point made by zachary which is lets identify who it was that told them this. Lets get them in. Lets interview them. Lets crossexamine them, etc. Im not dodging. I cant really give a percentage. But most of the time we lawyers work on direct witnesses, the person who actually said whatever it is thats being said, and if it is hearsay, timmy told me, again, were going to get timmy and we will question him. David thats why the whistleblower law was designed to be first person and this is not a first person account. I agree. David doug, thank you very much. I appreciate it. My pleasure. David the headlines that sent stocks south about 11 30 today and the possible big implications of that, straight ahead. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. You may have gingivitis. When you brush, and the clock could be ticking towards bad breath, receding gums, and possibly. Tooth loss. Help turn back the clock on gingivitis with parodontax. Leave bleeding gums behind. Parodontax. 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David stocks dropping like a stone on news that the white house is considering u. S. Investment in china and delisting china based stocks in markets here at home. This is like widely held stocks. Does the administration have the authority to do that, and is this taking the trade war to a whole new level . I think it is definitely taking the trade i think we are trying to show we have a lot of tools here besides just the tariffs, like phase one, this is a reminder that this is the Financial Capital in the world, the most money here, the most asset value and thats to our strength so to start to play with the financial markets, thats where potentially tariffs on money transfers or just flat out thats how we ruin other countrys economies is stopping trade with them. That said, i dont know if it will work and i dont know the mechanism. I mean, in theory, i dont know how would the sec do it . Would they delist it . Its basically stocks trade eight its basically stocks trading abroad where theres a third party involved. Bank of new york, a big player i think their stock was down today. I dont know if china cared. They have always tried to limit actual flows of money into their stock market in various forms of bubbles all the time. Stopping our money from going there, through the adrs would cause their currency to decline as they like anyway as a way to fight the trade war by adjusting to the fact theres tariffs in place. Im not sure the mechanism of it or the effect of it but it is showing off what we can do or reminding people how important we are which could be a strong move in the trade war. Back to the earlier discussion of hearsay; right . This is a leak from somewhere in the white house about something that was spoken by some set of david but it moved the markets. Theres no question that any movement any rumors about china getting worse or better has been moving the markets. Im just saying this is what we know right now, right, which is a whole lot of little. And in terms of the actual implementati implementation, im sure you could find some Emergency Powers where you could affix a whole series of really restrictive actions the problem would be the unintended consequences. The minute you Start Playing around with the accessibility of u. S. Capital markets to foreign investing or the ability of american investors to invest outside of the United States, not only are you in unchartered territory but you could very easily propel this way beyond a china spectrum whereby people who already want to find some sort of alternative to the dollar and u. S. Markets would have much more urgency around being able to do so. I think thats an incredibly dangerous pandoras box to open up. I think the timing on this is really interesting. I think it is one of two things happening here. First, possibly a leak to sort of distract from the rest of the news flow that has kept the markets and everybody so focused the last few days. But also if thats not the scenario, and this is a serious consideration, what it says to me is that the administration doesnt have confidence that it will be able to proceed in making a deal with china, and they need to take a harder line. If thats the case, the stock market will react very very negatively. Its looking for a partial deal, something tangible, david, before the year is over. David gary . You know, i tell you, david, i think this is a horrible idea. I mean, what is the point . Are we trying to get even with china for this all started over the intellectual property. Is this going to make them respect our intellectual Property Rights more . No. If so, what is it maybe im going back to 101 on trade. They sell us cheap refrigerators, and we give them pieces of paper with president s printed on it. Why is that a bad idea . I want them to dump cheap products into our country, thats good for us. Instead were fighting this trade war to get to some balance for some reason, to balance our trade deficit. Maybe im lost. Maybe i need to go back to square one on the benefits of trade, but this is another idiotic idea in lengthening a stupid trade war. But it really raises the question that the actual goal of this is to sever the u. S. China relationship. Potentially weaken china, but for the most part, to really create or try to create a United States that is selfsufficient internally. We make our own stuff that why would we want to do that . I totally agree. Im just saying that is much more one of the david you dont really think thats the goal . To isolate the United States from the rest of the world . I do think there are people who believe david thats not what kudlow believes or lighthizer believes or the entire trade team believes. Without getting into a whole discussion of the logic behind a trade war, i will say america didnt become the number one economy selling soybeans or military strength even, financial strength is what made its why the north beat the south. It is why were the number one economy and probably always will be. It is our reminder thats our main export and you dont want that cut off. Will it work . I dont know. But i think thats why it was going around. David good discussion. If you order food for delivery often, you might want to listen up, nearly 5 million customers personal information has been exposed following a massive data breach at one company. Could it be one that you work with . More on that coming next. All Money Managers might seem the same, but some give their clients cookie cutter portfolios. Fisher investments tailors portfolios to your goals and needs. Some only call when they have something to sell. Fisher calls regularly so you stay informed. And while some advisors are happy to earn commissions whether you do well or not. Fisher investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. Clearly better money management. devices are like doorways that could allow hackers into your home. And like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. David Food Delivery Service door dash facing a major data breach that exposed 4. 9 million drivers merchants and users personal information. This is the second time door dash has been hacked. Joining us now is the cyber guy. I dont use this, but there are a lot of people that do, almost 5 million people. Should they be concerned . Of course they should, 4. 9 million peoples information went out there, their name, their address that they had their food delivered to which is normally your home and also what you orders, your entire order history. That matters because a sophisticated crook that gets ahold of this information could find out where you normally go to eat, when you normally eat, when youre home, when youre not home, so you can decipher a lot of information with little pieces david the last four digits of Bank Accounts apparently were exposed in a lot of these cases. Partial credit card numbers also. 100,000 or so employees who were the delivery people for door dash whose drivers licenses are now out on the loose. Right, this is just the latest in a metronomic series of huge data breaches from target, to equifax, banks are getting this daily from any back door thats there. What anyone can do is be more cautious of any email that you get. The only way that hackers can ultimately make use of this is they try to approach you with your own information as if they were the organization that it was hacked from. Something important to be aware of it may seem like innocuous information may have gotten out this time, but if you take that and add it into a bunch of other data that is available about you, suddenly it starts to tell a story. Right. Such as, what car you are driving, what license plate you have, where you got a parking ticket, what kind of credit you have, and they are amassing this kind of data in this absolute renegade way on the dark side of the web, where theres really little control over that. It is so interesting, though, and with all these services out there now, people arent going to stop using the services, even to zacks point, it is like these hacks happen, i dont really hear that anything bad happens from it, so i keep doing it what can these companies do to better protect people knowing that they are going to reach for these conveniences . If we have laws that require the management of data to come with a penalty i think would have some more strict and disciplined Data Protection for us as consumers. Right now youre right, i mean, why do we care . We only care when we find out that something bad happened. That something bad happened. They do. Things do happen. People get robbed, and they dont understand that a lot of how the crook ended up busting through their front door could be that they are tapping into data that they can get for about 13 online to, you know, wreck your life essentially. Yeah, and then what we could do is right now to change your account numbers, to change i mean, if you want to go to that extreme, thats the answer. Change your account numbers. As i always say, you can just walk and go pick up your food. No, you need that convenience. No, no, i like door dash. And your privacy will be safe. Im a convenience person. Gary smith here. I want to pursue jackies question from i think you were starting to talk about it, from the customers point of view. Uhhuh what new software is out there that the average consumer used, like, for example, i use something that stores all my pass words and encrypts them and all that stuff. A brilliant tool. Yeah, what other things should people be using out there . I know, yeah, i mean jackie you could get your food delivered down the street, i suppose or go get it yourself, but software apes Software Apps and things that people can look into . You use a pass word manager that is widely available and it is one of the best on the market. It is free to use. It creates extremely strong pass words for you and allows you to remember one master pass word. The greatest thing that you can do as a consumer is less about a software or a download of anything else, its more about awareness. Watch your credit file. Watch your Bank Statements as far as charges go. You will see just this entire concept of how easy it is to hack into our lives will simply show up in those places first. You want to just see whats going on your visa, mastercard, amex bills and have a glance at the credit. I always think to myself im going to look at my credit every time i change the battery in my smoke detector. Why . Because thats probably the only time i will remember to do it. David good idea. Good advice, appreciate it. One airline is giving travelers the ultimate in flight treats. 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Either feed them, but thinking in the mouth or change their diaper. Back when youre flying, a cigarette, kickback, giving a little of that, too. I have empathy for people who fly with infants and all the trouble that it entails. I to sit next to my own kids when they were crying on the plane. There would be a new development. If they could take care of your kids for you on the flight, without even better. I think its the worst you upgrade your seat, you are sitting next to a screaming baby, its a killer. This is brilliant. One day i will have children, i will subject others to the torture i have had for many years. Sitting in the back like the old smoking section. Have a great weekend, everybody. Well see you next time. We got a trump economy still ahead with this whopper from the New York Times said, impeaching trump is good for the economy. U. S. Agriculture industry, any fracturing, all think that impact judgment impeachment will blink you. Against impeachment, the work . Comp is basically dominating in the 2016. Hes got a one two political part