1
00:00:06,280 --> 00:00:09,240
Speaker 1: Welcome to Fear and Greed business news you can use today.

2
00:00:09,280 --> 00:00:12,640
Speaker 1: Investors seek safe haven assets like gold and silver as

3
00:00:12,640 --> 00:00:16,360
Speaker 1: the US europe trade wars spooks markets. The federal government

4
00:00:16,360 --> 00:00:19,079
Speaker 1: and opposition work together to find a compromise on hate

5
00:00:19,120 --> 00:00:23,000
Speaker 1: crime legislation, and even the airlines think airfares are too high.

6
00:00:23,079 --> 00:00:27,159
Speaker 1: Plus the number of Australia's billionaires hits forty eight and

7
00:00:27,200 --> 00:00:30,200
Speaker 1: the hardest luck story the Australian Open. It is Tuesday,

8
00:00:30,240 --> 00:00:33,360
Speaker 1: the twentieth of January twenty twenty six. I'm Michael Thompson

9
00:00:33,360 --> 00:00:36,520
Speaker 1: and good morning, Sean Aylmer. Morning Michael, Sean. The main

10
00:00:36,560 --> 00:00:39,839
Speaker 1: story this morning. Investors are looking for safe haven assets,

11
00:00:39,880 --> 00:00:43,240
Speaker 1: pushing the price of gold and silver to record highs,

12
00:00:43,760 --> 00:00:47,000
Speaker 1: with markets getting spooked by Donald Trump's demand for European

13
00:00:47,120 --> 00:00:48,919
Speaker 1: nations to sell him Greenland.

14
00:00:49,040 --> 00:00:52,520
Speaker 2: Underlying the threat is the potential outbreak of a trade war.

15
00:00:52,640 --> 00:00:55,920
Speaker 2: After Trump announced ten percent tariffs in several European countries

16
00:00:55,960 --> 00:00:58,760
Speaker 2: from February one, and I jump to twenty five percent

17
00:00:58,840 --> 00:01:02,640
Speaker 2: on June one, Lee Greenland is sold. While the ASEX

18
00:01:02,800 --> 00:01:06,440
Speaker 2: fell as investors looked for US dollar denominated assets, the

19
00:01:06,480 --> 00:01:11,840
Speaker 2: local gold stocks surged. Catalyst minerals, West Gold, Northern Star,

20
00:01:12,160 --> 00:01:15,680
Speaker 2: Perseus and Bellevue Gold all did very well. The price

21
00:01:15,720 --> 00:01:19,560
Speaker 2: of gold set a record high yesterday in US dollars

22
00:01:19,760 --> 00:01:23,040
Speaker 2: four to six nine to zero point five nine. That's

23
00:01:23,080 --> 00:01:26,200
Speaker 2: almost forty seven one hundred US dollars and ow it's

24
00:01:26,319 --> 00:01:30,080
Speaker 2: quite remarkable. Silver also hit a new High Tech stocks

25
00:01:30,080 --> 00:01:32,480
Speaker 2: have been hit by the chaos, with the local sector

26
00:01:32,560 --> 00:01:35,880
Speaker 2: sharply lower yesterday while Wall Street was closed overnight for

27
00:01:35,880 --> 00:01:38,920
Speaker 2: the Martin Luther King holiday. The US tech stocks are

28
00:01:38,959 --> 00:01:41,920
Speaker 2: well below their highs of late last year, so Marke

29
00:01:42,040 --> 00:01:45,399
Speaker 2: Leder and Video worth four point five trillion dollars. It

30
00:01:45,640 --> 00:01:48,760
Speaker 2: and Apple are both down ten percent since their highs

31
00:01:48,800 --> 00:01:51,680
Speaker 2: of late last year. Microsoft's off fifteen percent. The exception,

32
00:01:51,800 --> 00:01:54,440
Speaker 2: of course is Alphabet and of Google, which is trading

33
00:01:54,440 --> 00:01:57,680
Speaker 2: near record levels. One riskier asset that it's held up

34
00:01:57,880 --> 00:02:00,000
Speaker 2: reasonably well, and it came off over the past time

35
00:02:00,160 --> 00:02:03,320
Speaker 2: four hours or so, but it's doing pretty well is bitcoin,

36
00:02:03,640 --> 00:02:06,960
Speaker 2: and pretty much the whole cryptocurrency is scene. Bitcoins currently

37
00:02:07,000 --> 00:02:11,079
Speaker 2: trading at ninety two thousand, six hundred US dollars a unit. Now,

38
00:02:11,200 --> 00:02:13,200
Speaker 2: of course, it was much higher than that last year,

39
00:02:13,560 --> 00:02:16,000
Speaker 2: but just what's happened in the past few days, a

40
00:02:16,040 --> 00:02:18,239
Speaker 2: few weeks, hasn't really hit cryptos yet.

41
00:02:19,480 --> 00:02:22,799
Speaker 1: Okay, what are the key factors here? What are the

42
00:02:22,880 --> 00:02:25,960
Speaker 1: key factors driving markets at the moment? Because today it's

43
00:02:26,040 --> 00:02:29,280
Speaker 1: quite a significant day. Today Donald Trump marks one year

44
00:02:29,320 --> 00:02:32,280
Speaker 1: since being sworn in. Our investor is going to have

45
00:02:32,360 --> 00:02:34,320
Speaker 1: to kind of deal with or I would say, actually

46
00:02:34,360 --> 00:02:37,320
Speaker 1: put up with volatility for the next three years.

47
00:02:37,840 --> 00:02:40,560
Speaker 2: You'd think so. But there were probably a couple of

48
00:02:40,680 --> 00:02:44,919
Speaker 2: potential retardants on his impact in the market. The first

49
00:02:44,960 --> 00:02:48,320
Speaker 2: is the Supreme Court and whether it says the Donald

50
00:02:48,480 --> 00:02:52,600
Speaker 2: Trump tariffs are legal. The President imposed them under the

51
00:02:52,760 --> 00:02:56,280
Speaker 2: International Emergency Economic Powers Act, and the Court needs to

52
00:02:56,280 --> 00:02:59,560
Speaker 2: decide whether the current YEO political climate equates to an

53
00:02:59,560 --> 00:03:04,560
Speaker 2: international emergency. If they decide it isn't an international emergency,

54
00:03:05,000 --> 00:03:08,400
Speaker 2: then Trump's tariffs are illegal. His main attack weapon on

55
00:03:08,440 --> 00:03:12,560
Speaker 2: other countries will be much diminished. We're likely to get

56
00:03:12,560 --> 00:03:15,000
Speaker 2: that decision in coming days. There's also interest rates in

57
00:03:15,040 --> 00:03:18,040
Speaker 2: the bond market with the president. With the President continually

58
00:03:18,040 --> 00:03:21,280
Speaker 2: attacking Federal Reserve Chair Jerom Powell and his interest rates

59
00:03:21,280 --> 00:03:26,120
Speaker 2: setting decisions, markets could shift dramatic dramatically if they fear

60
00:03:26,240 --> 00:03:30,040
Speaker 2: economic chaos, and that would likely put a dam knot

61
00:03:30,040 --> 00:03:33,320
Speaker 2: on the president's actions and his ability to do anything really.

62
00:03:33,639 --> 00:03:35,600
Speaker 2: Of course, the other thing is the midterms. We're still

63
00:03:35,600 --> 00:03:39,440
Speaker 2: twelve months away from them taking effect. It seems at

64
00:03:39,440 --> 00:03:43,480
Speaker 2: this point that the Republicans will lose the House, which

65
00:03:43,520 --> 00:03:45,800
Speaker 2: will actually kind of provide some sort of balance.

66
00:03:46,800 --> 00:03:50,280
Speaker 1: It makes you realize just what an extraordinary twelve months

67
00:03:50,320 --> 00:03:52,840
Speaker 1: it has been, Right, just how many different things have

68
00:03:52,880 --> 00:03:56,480
Speaker 1: taken a place in the last twelve months. And you

69
00:03:56,560 --> 00:03:59,280
Speaker 1: dive into all of that. In today's Q and A

70
00:03:59,560 --> 00:04:02,640
Speaker 1: episode that comes up after after this show, you're speaking

71
00:04:02,640 --> 00:04:06,560
Speaker 1: with doctor Charles Miller from A and U, the University

72
00:04:06,560 --> 00:04:10,040
Speaker 1: in Canberra, about Donald Trump's first year as president.

73
00:04:10,880 --> 00:04:12,400
Speaker 2: I don't think the A and YOU would like to

74
00:04:12,400 --> 00:04:15,960
Speaker 2: be thought of as the University in Canberra Australian National University. Michael,

75
00:04:16,000 --> 00:04:18,600
Speaker 2: I was posed at canber University or University of Camera.

76
00:04:18,640 --> 00:04:22,120
Speaker 1: I said the University in Camera. So, if anything anything,

77
00:04:22,200 --> 00:04:24,960
Speaker 1: I was actually the kind of I was dissing University

78
00:04:25,000 --> 00:04:27,520
Speaker 1: of Canberra by saying not one of two, and I want.

79
00:04:27,360 --> 00:04:29,799
Speaker 2: To des either of them. Yeah, it's a great chat

80
00:04:29,880 --> 00:04:33,479
Speaker 2: with Charlie because we ask him about Donald Trump's achievements,

81
00:04:33,720 --> 00:04:37,479
Speaker 2: and there are some and biggest disasters, and there are

82
00:04:37,480 --> 00:04:39,320
Speaker 2: a few of those as well. Fantastic chat.

83
00:04:40,240 --> 00:04:42,760
Speaker 1: Yeah, yeah, it really was a good chat. It's coming

84
00:04:42,839 --> 00:04:44,840
Speaker 1: up after the show. Stick around for that. I'm trying

85
00:04:44,839 --> 00:04:48,200
Speaker 1: to recover save face here now, Sean Asx, where did

86
00:04:48,200 --> 00:04:49,080
Speaker 1: we finish up yesterday?

87
00:04:49,120 --> 00:04:51,440
Speaker 2: As the PAX two hundred closed down zero point three

88
00:04:51,440 --> 00:04:54,680
Speaker 2: percent to eight eight seven five points, tech stocks sold off,

89
00:04:54,760 --> 00:04:57,720
Speaker 2: utilities did best. All of four big banks and Acquary

90
00:04:57,760 --> 00:05:02,679
Speaker 2: Group BHP Fourtescu Metals, Goodman Group, the property Giant, West Farmers.

91
00:05:02,720 --> 00:05:06,240
Speaker 2: They all ended lower. CSL closed higher. Rio jumped more

92
00:05:06,279 --> 00:05:09,479
Speaker 2: than one percent. Now I mentioned the gold stock's doing well, Michael,

93
00:05:09,600 --> 00:05:15,960
Speaker 2: Northern Star biggest local gold digger nowadays. Now the New Crest, yes,

94
00:05:16,240 --> 00:05:19,800
Speaker 2: isn't here For those not listening. Last week we were

95
00:05:19,839 --> 00:05:23,120
Speaker 2: talking about Newmont taking over. Knew something and we couldn't remember.

96
00:05:23,160 --> 00:05:24,080
Speaker 2: It was called the New Crest.

97
00:05:24,240 --> 00:05:25,240
Speaker 1: Happened so long ago.

98
00:05:25,360 --> 00:05:29,400
Speaker 2: Shot Northern Star, right, they put not a household name it.

99
00:05:29,680 --> 00:05:32,440
Speaker 2: Because of the price of gold, the share price has surged.

100
00:05:32,800 --> 00:05:35,080
Speaker 2: It is now bigger than Woolies, bigger than Single Healthcare,

101
00:05:35,080 --> 00:05:38,080
Speaker 2: bigger than QBE plus a bunch of tech stocks like

102
00:05:38,200 --> 00:05:42,440
Speaker 2: Aria Wise taking computer share. Now the fifteenth largest company

103
00:05:42,560 --> 00:05:46,560
Speaker 2: on the Bours, the twenty second largest company after Cohle's

104
00:05:47,680 --> 00:05:51,480
Speaker 2: is the second largest gold miner Evolution Mining. I guarantee

105
00:05:51,800 --> 00:05:53,880
Speaker 2: most people haven't heard of evolution mining. If you're not

106
00:05:53,880 --> 00:05:56,640
Speaker 2: in the markets, you probably don't know. Evolution Mining now

107
00:05:56,680 --> 00:05:58,640
Speaker 2: the twenty second biggest company on the Boss.

108
00:05:58,720 --> 00:06:02,159
Speaker 1: That's extraordinary. Let's take a quick look at politics, Sean

109
00:06:02,240 --> 00:06:05,920
Speaker 1: the Prime Minister Anthony Albernesi and Opposition leader Susan Lee

110
00:06:06,000 --> 00:06:08,520
Speaker 1: will work together to find a compromise on the hate

111
00:06:08,520 --> 00:06:12,159
Speaker 1: crimes legislation after both agreed that the families of the

112
00:06:12,160 --> 00:06:15,159
Speaker 1: Bondeau victims were looking to Parliament for leadership.

113
00:06:15,240 --> 00:06:19,120
Speaker 2: Alberanzi and Lee met with victims families yesterday in Canberra

114
00:06:19,160 --> 00:06:21,280
Speaker 2: on the first sitting day of the year. Not everyone

115
00:06:21,279 --> 00:06:25,600
Speaker 2: in conservative politics is happy that Labor and the Coalition

116
00:06:25,640 --> 00:06:28,120
Speaker 2: are doing a deal. National MPs really don't want to

117
00:06:28,120 --> 00:06:30,200
Speaker 2: deal with the government on any of the legislation at

118
00:06:30,200 --> 00:06:32,800
Speaker 2: this stage. It appears the bill dealing with gun restrictions

119
00:06:32,839 --> 00:06:35,960
Speaker 2: will be passed with Green support today. A second bill

120
00:06:36,000 --> 00:06:38,320
Speaker 2: giving the government new power to jail people associated with

121
00:06:38,320 --> 00:06:42,200
Speaker 2: hate groups and separate separate powers to block visas for

122
00:06:42,279 --> 00:06:46,520
Speaker 2: hate driven activists still being debated. Politicians are back in

123
00:06:46,600 --> 00:06:50,200
Speaker 2: Canberra through two days sitting to pass legislation dealing with

124
00:06:50,200 --> 00:06:53,880
Speaker 2: the Bondai massacre. Yesterday was given over to condolence motions.

125
00:06:53,920 --> 00:06:55,880
Speaker 2: I don't know whether you saw many of the many

126
00:06:56,080 --> 00:06:58,920
Speaker 2: very very heartfelt. It was a very emotional day in

127
00:06:58,960 --> 00:07:02,960
Speaker 2: Canberra yesterday. Today the debate of the legislation will dominate.

128
00:07:03,720 --> 00:07:06,600
Speaker 1: What did you make as well of Pauline Hanson's comments

129
00:07:06,680 --> 00:07:11,840
Speaker 1: yesterday about One Nation potentially being the new opposition if

130
00:07:11,840 --> 00:07:15,560
Speaker 1: it continues along its current trajectory on the poles.

131
00:07:15,640 --> 00:07:18,080
Speaker 2: Yeah, so the back of the Australian poll, Yes, they're

132
00:07:18,120 --> 00:07:19,240
Speaker 2: quite remarkable.

133
00:07:19,360 --> 00:07:21,160
Speaker 1: Yeah, yeah, I mean I was talking about this in

134
00:07:21,160 --> 00:07:23,200
Speaker 1: the Afternoon Report yesterday, and the fact that for the

135
00:07:23,240 --> 00:07:27,320
Speaker 1: first time ever you've got One Nation higher than the coalition.

136
00:07:27,360 --> 00:07:30,000
Speaker 1: It's the first time that a minor party has outpolled

137
00:07:30,040 --> 00:07:32,320
Speaker 1: one of the major parties in terms of primary votes.

138
00:07:32,560 --> 00:07:35,640
Speaker 1: It is quite extraordinary and that's happened really. I think

139
00:07:35,640 --> 00:07:38,640
Speaker 1: it was seven points they've gained. One Nation has gained

140
00:07:38,640 --> 00:07:40,560
Speaker 1: in just the last couple of months.

141
00:07:40,720 --> 00:07:43,080
Speaker 2: Yeah, I mean, part of that story is just how

142
00:07:43,160 --> 00:07:46,960
Speaker 2: abysmal the coalition's performance is and no one's happy than

143
00:07:47,000 --> 00:07:50,200
Speaker 2: Barnaby Joyce, who of course made the leap from and

144
00:07:50,240 --> 00:07:51,200
Speaker 2: that's still one nation.

145
00:07:51,280 --> 00:07:53,800
Speaker 1: Yeah indeed, okay, take a quick break back in a

146
00:07:53,800 --> 00:08:02,800
Speaker 1: moment with the rest of the day's business news Sean.

147
00:08:02,920 --> 00:08:06,120
Speaker 1: Even the airlines think airfares are too high, but perhaps

148
00:08:06,120 --> 00:08:09,680
Speaker 1: not surprisingly, it's it's not their fault. They're blaming the airports.

149
00:08:09,960 --> 00:08:13,520
Speaker 2: The industry group representing Quantas, Virgin Australia and Air New

150
00:08:13,640 --> 00:08:19,160
Speaker 2: Zealand called a four A and Z. Of course, so

151
00:08:19,200 --> 00:08:22,520
Speaker 2: as the government needs to strengthen airport regulations to stop

152
00:08:22,600 --> 00:08:27,640
Speaker 2: air for affares from soaring. Airlines for Australia and New Zealand.

153
00:08:27,920 --> 00:08:31,440
Speaker 2: That's a four ain zen Airlines for Australia and New

154
00:08:31,520 --> 00:08:35,040
Speaker 2: Zealand says the competition regulators powers to monitor Australia's major

155
00:08:35,080 --> 00:08:38,960
Speaker 2: airports you're talking Sidney, Melbourne, Brisone, Perth are insufficient to

156
00:08:39,040 --> 00:08:42,679
Speaker 2: act as a constraint on monopolistic behavior, according to a

157
00:08:42,720 --> 00:08:45,720
Speaker 2: story in The finn The comments come after the able

158
00:08:45,800 --> 00:08:49,280
Speaker 2: C said over the weekend it lacked the regulatory ability

159
00:08:49,320 --> 00:08:52,959
Speaker 2: to stop airports exercising their market powers. A for a

160
00:08:53,160 --> 00:08:56,040
Speaker 2: Zed said airport's plan to spend forty four billion dollars

161
00:08:56,120 --> 00:08:59,199
Speaker 2: upgrading over the next decade. That will find its way

162
00:08:59,559 --> 00:09:02,800
Speaker 2: into airfare, so there should be some constraints on that,

163
00:09:03,280 --> 00:09:07,360
Speaker 2: and maybe airfas won't be as high carriers pay airports

164
00:09:07,520 --> 00:09:10,680
Speaker 2: for landing, parking and security. Now, according to the hrubal

165
00:09:10,760 --> 00:09:13,120
Speaker 2: Z in the twenty twenty four financially the four largest

166
00:09:13,320 --> 00:09:16,600
Speaker 2: before I mentioned Brisbane, Melbourne, Perth and City earned two

167
00:09:16,640 --> 00:09:20,319
Speaker 2: point six billion dollars in revenue. That is a stack

168
00:09:20,360 --> 00:09:23,000
Speaker 2: of mine. Of course, they also earned revenue from car parks.

169
00:09:23,040 --> 00:09:26,080
Speaker 2: That's actually another really big one. Retailers rent that type

170
00:09:26,080 --> 00:09:26,360
Speaker 2: of thing.

171
00:09:27,000 --> 00:09:29,720
Speaker 1: Now, this next story I think is just extraordinary because

172
00:09:29,720 --> 00:09:32,680
Speaker 1: it kind of shows business and social factors and politics

173
00:09:32,720 --> 00:09:35,640
Speaker 1: as well a little bit as well. Colliding here. Trading

174
00:09:35,679 --> 00:09:39,040
Speaker 1: in A two Milk shares were halted yesterday after its

175
00:09:39,040 --> 00:09:42,359
Speaker 1: price fell more than ten percent on news that China's

176
00:09:42,440 --> 00:09:45,480
Speaker 1: birth rate dropped to a record low.

177
00:09:45,800 --> 00:09:49,199
Speaker 2: A two Milk relies heavily on selling powdered milk to China.

178
00:09:49,840 --> 00:09:52,760
Speaker 2: After a rough trot, bounced back been a pretty strong

179
00:09:52,760 --> 00:09:56,320
Speaker 2: performer over the past year, up around fifty percent until

180
00:09:56,400 --> 00:10:01,240
Speaker 2: yesterday it dropped about ten percent. Yesterday, population declined for

181
00:10:01,280 --> 00:10:03,439
Speaker 2: the fourth year in a row. In twenty twenty five,

182
00:10:03,520 --> 00:10:07,280
Speaker 2: the country recorded just seven point nine million births, down

183
00:10:07,320 --> 00:10:10,400
Speaker 2: from nine point five million the year before. Meanwhile, the

184
00:10:10,480 --> 00:10:13,680
Speaker 2: number of death rays to eleven point three. So to

185
00:10:13,760 --> 00:10:16,720
Speaker 2: put some context around this, China's had about five point

186
00:10:16,840 --> 00:10:21,120
Speaker 2: six births per one thousand people. The other great populous

187
00:10:21,200 --> 00:10:24,640
Speaker 2: nation in India about three times that level. Australia the

188
00:10:24,679 --> 00:10:27,120
Speaker 2: numbers like ten or eleven, so it's about twice that level.

189
00:10:27,440 --> 00:10:30,360
Speaker 2: So the birth rate in China really really is a problem.

190
00:10:30,640 --> 00:10:33,600
Speaker 2: The information was released yesterday with economic data that shares,

191
00:10:33,600 --> 00:10:36,439
Speaker 2: the world's second largest economy, grew by five percent the

192
00:10:36,440 --> 00:10:38,840
Speaker 2: bottom line at least for a two milk it had

193
00:10:38,880 --> 00:10:41,200
Speaker 2: to go into a trading halt because it's share price

194
00:10:41,200 --> 00:10:42,400
Speaker 2: had full and ten point six percent.

195
00:10:42,440 --> 00:10:45,040
Speaker 1: And it's quite extraordinary the reaction as well by the

196
00:10:45,120 --> 00:10:47,520
Speaker 1: Chinese government in order to try and kind of fix

197
00:10:47,600 --> 00:10:50,560
Speaker 1: this problem, because they did previously have the one child

198
00:10:50,640 --> 00:10:52,720
Speaker 1: policy and they got rid of that about a decade ago,

199
00:10:53,720 --> 00:10:58,480
Speaker 1: and now through to actually offering a baby bonus. I

200
00:10:58,520 --> 00:11:01,199
Speaker 1: think it's about five hundred dollars head a Costello is

201
00:11:01,240 --> 00:11:04,040
Speaker 1: I know, it's very reminiscent of kind of two thousand.

202
00:11:03,800 --> 00:11:07,880
Speaker 2: And four, early noughties. You know, I'm actually reading a

203
00:11:07,880 --> 00:11:10,440
Speaker 2: book which everyone has read but I never read, and

204
00:11:10,520 --> 00:11:14,000
Speaker 2: I can't remember the author's name, Wild Swan's, which was

205
00:11:14,080 --> 00:11:17,040
Speaker 2: it's all about sort of three generations of Chinese women

206
00:11:18,400 --> 00:11:22,280
Speaker 2: over one hundred years. It is fantastic now. Anytime I've

207
00:11:22,280 --> 00:11:26,240
Speaker 2: said I've read it, most book lovers like yourself, Michael Lee,

208
00:11:26,360 --> 00:11:28,080
Speaker 2: he said, yeah, whilst one we all read that like

209
00:11:28,120 --> 00:11:30,560
Speaker 2: twenty years ago. Well I didn't. No, it is one

210
00:11:30,600 --> 00:11:32,480
Speaker 2: of the great books if you want to read an

211
00:11:32,480 --> 00:11:34,400
Speaker 2: easy read on China.

212
00:11:34,800 --> 00:11:41,200
Speaker 1: Good recommendation. Now Australia has forty eight billionaires sean who

213
00:11:41,280 --> 00:11:44,280
Speaker 1: hold more wealth than the bottom forty percent of the

214
00:11:44,320 --> 00:11:49,199
Speaker 1: population combined. According to a new report from Oxfam Australia.

215
00:11:49,360 --> 00:11:52,760
Speaker 2: It says that with eight new billionaires added to the

216
00:11:52,760 --> 00:11:56,559
Speaker 2: FOURBES Australian Billionaires list since twenty twenty, they are now

217
00:11:56,640 --> 00:12:02,520
Speaker 2: wealthier Australian billionaires than almost eleven million Australians. It's a

218
00:12:02,520 --> 00:12:04,600
Speaker 2: global trend, with a number of billionaires around the world

219
00:12:04,640 --> 00:12:07,960
Speaker 2: passing three thousand for the first time. Combined value of

220
00:12:08,080 --> 00:12:13,440
Speaker 2: US eighteen point three trillion dollars. Pretty phenomenal. These billionaires

221
00:12:13,480 --> 00:12:17,480
Speaker 2: earn three point two million dollars per day on average.

222
00:12:17,920 --> 00:12:20,120
Speaker 2: For the ten richest, it's about one hundred and fifty

223
00:12:20,679 --> 00:12:24,240
Speaker 2: million dollars each day. In Australia, each billionaire's wealth on

224
00:12:24,360 --> 00:12:27,640
Speaker 2: average grows about six hundred thousand dollars a day. OXFAM

225
00:12:27,760 --> 00:12:29,920
Speaker 2: is calling for a net wealth tax on the richest

226
00:12:30,120 --> 00:12:34,080
Speaker 2: zero half percent of households globally.

227
00:12:34,120 --> 00:12:37,480
Speaker 1: That is, oh wow, just a quick one before we

228
00:12:37,520 --> 00:12:41,520
Speaker 1: get to international news Sean. Perhaps the toughest hard luck

229
00:12:41,559 --> 00:12:45,440
Speaker 1: story of the Australian Open tennis so far comes from

230
00:12:46,040 --> 00:12:50,240
Speaker 1: the American tennis player Michael Jong at a surprise first

231
00:12:50,320 --> 00:12:53,640
Speaker 1: round victory, but he could be forced to actually forfeit

232
00:12:53,920 --> 00:12:55,800
Speaker 1: his prize money, which at this stage would be a

233
00:12:55,800 --> 00:12:58,000
Speaker 1: minimum of two hundred and twenty five thousand dollars because

234
00:12:58,040 --> 00:12:59,960
Speaker 1: he's made it through the first round. Due to u

235
00:13:00,080 --> 00:13:00,920
Speaker 1: US college rule.

236
00:13:01,120 --> 00:13:03,720
Speaker 2: The nine ine year old beat fellow American Sebastian Quarter

237
00:13:04,240 --> 00:13:06,960
Speaker 2: in five sets on Sunday, granting him the match fee

238
00:13:07,000 --> 00:13:10,840
Speaker 2: for advancing to round two. Under US college rules, players

239
00:13:10,920 --> 00:13:13,520
Speaker 2: are only allowed to take home ten thousand dollars annually

240
00:13:13,559 --> 00:13:16,480
Speaker 2: in prize money from tennis tournaments, with any further winnings

241
00:13:16,520 --> 00:13:20,720
Speaker 2: capped at covering necessary expensive expenses. According to nine newspapers,

242
00:13:21,120 --> 00:13:24,559
Speaker 2: Jung said he still had one semester to run at

243
00:13:24,600 --> 00:13:30,360
Speaker 2: Columbia University, so just one semester. Oh, and it wasn't

244
00:13:30,360 --> 00:13:32,760
Speaker 2: clear whether he would keep the money, despite hearing rumors

245
00:13:32,760 --> 00:13:35,240
Speaker 2: that maybe he could. Now the first time this has

246
00:13:35,240 --> 00:13:38,960
Speaker 2: happened in Australian player. May Joint faced a similar predicament

247
00:13:39,280 --> 00:13:41,720
Speaker 2: a couple of years ago after advancing to the second

248
00:13:41,760 --> 00:13:43,720
Speaker 2: round of the US Open. Joint, who was a student

249
00:13:43,720 --> 00:13:46,160
Speaker 2: at the University of Texas at the time, ended up

250
00:13:46,200 --> 00:13:49,760
Speaker 2: fourfeiting two and ten thousand dollars. I'd just quit my

251
00:13:49,920 --> 00:13:52,920
Speaker 2: unied degree, really would, so I actually quit last week.

252
00:13:53,000 --> 00:13:56,760
Speaker 1: So that's fine a student, I'm fine, okay. Turning to

253
00:13:56,840 --> 00:13:59,880
Speaker 1: international news now. As Davos kicked off last night, EU

254
00:14:00,120 --> 00:14:04,840
Speaker 1: capitals were considering hitting the US with ninety three billion

255
00:14:05,040 --> 00:14:08,400
Speaker 1: euros worth of tariffs or restricting American companies from the

256
00:14:08,400 --> 00:14:12,520
Speaker 1: blocks market in response to Donald Trump's threats to NATO

257
00:14:12,600 --> 00:14:15,560
Speaker 1: allies opposed to his campaign to take over Greenland.

258
00:14:15,600 --> 00:14:18,079
Speaker 2: The retaliation measures are being drawn up to give European

259
00:14:18,160 --> 00:14:20,760
Speaker 2: leaders leverage in meetings with US President at the World

260
00:14:20,880 --> 00:14:24,600
Speaker 2: Economic Forum in Damos. According to the FT, the tariff

261
00:14:24,600 --> 00:14:27,400
Speaker 2: list was prepared last year but suspended until February six

262
00:14:27,480 --> 00:14:31,160
Speaker 2: to avoid a full blown trade war. Its reactivation with

263
00:14:31,200 --> 00:14:34,720
Speaker 2: disgusted over the weekend by the EUS twenty seven ambassadors,

264
00:14:34,720 --> 00:14:38,360
Speaker 2: along with the so called anti coercion instrument that can

265
00:14:38,440 --> 00:14:42,160
Speaker 2: limit US company's access to the internal market as a

266
00:14:42,200 --> 00:14:45,520
Speaker 2: block wrestled over how to respond to Trump's threat of

267
00:14:45,600 --> 00:14:49,120
Speaker 2: punitive tariffs. Now, Trump, who has demanded permission from Denmark

268
00:14:49,160 --> 00:14:52,600
Speaker 2: to take control of Greenland, has imposed, of course, as

269
00:14:52,680 --> 00:14:55,200
Speaker 2: vow to imposet those ten percent tariffs in UK, Norway,

270
00:14:55,280 --> 00:15:00,600
Speaker 2: six EU countries. That all followed an Arctic island sort

271
00:15:00,600 --> 00:15:04,440
Speaker 2: of troops being sent to Greenland for a military exercise.

272
00:15:05,040 --> 00:15:07,200
Speaker 2: Did you know that there were fifteen troops from France,

273
00:15:07,240 --> 00:15:11,080
Speaker 2: fifteen troops from Germany, one from the UK. They've been

274
00:15:11,120 --> 00:15:14,600
Speaker 2: hit with these tariffs seemingly on the back of that.

275
00:15:14,600 --> 00:15:17,480
Speaker 1: That's just extraordinary. And someone who has a very interesting

276
00:15:17,520 --> 00:15:19,880
Speaker 1: take on all of this, doctor Charles Miller from A

277
00:15:20,040 --> 00:15:23,240
Speaker 1: and U, which is of course a university based in Canberra.

278
00:15:23,280 --> 00:15:26,040
Speaker 1: One of two one of two. Sean still trying to

279
00:15:26,040 --> 00:15:28,600
Speaker 1: clarify my position on this. Coming up next in Fear

280
00:15:28,640 --> 00:15:30,920
Speaker 1: and Greed Q and a well worth a listen. You'll

281
00:15:30,920 --> 00:15:33,400
Speaker 1: find it in your podcast platform or at Fearangreed dot

282
00:15:33,440 --> 00:15:36,520
Speaker 1: com dot au, which is where you can also sign

283
00:15:36,600 --> 00:15:39,240
Speaker 1: up for our free daily newsletter, out every morning in

284
00:15:39,280 --> 00:15:40,440
Speaker 1: your inbox by six a m.

285
00:15:40,640 --> 00:15:41,840
Speaker 2: Thank you, Sean, Thanks Michael.

286
00:15:42,000 --> 00:15:45,120
Speaker 1: Tuesday, the twentieth of January twenty twenty six. Make sure

287
00:15:45,120 --> 00:15:47,480
Speaker 1: you're following the podcast and join us online on LinkedIn

288
00:15:47,520 --> 00:15:50,280
Speaker 1: and Instagram. I'm Michael Thompson and that was Fear and Greed.

289
00:15:50,480 --> 00:15:51,160
Speaker 1: Have a great day.