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Speaker 1: Minimum wage journers to get a three point seventy five

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Speaker 1: percent increase in their wages on July one, on top

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Speaker 1: of the Stage three tax cuts. Almost half of all

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Speaker 1: Australians struggle to make loan repayments, yet many don't ask

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Speaker 1: for help. And in video announces a new super chip

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Speaker 1: before it's even since the first consignment of its previous

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Speaker 1: super chip. Welcome to Fear and Greed, daily business news

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Speaker 1: for people who make their own decisions. It is Tuesday,

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Speaker 1: the fourth of June twenty twenty four. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning Michael.

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Speaker 1: Sean big show coming up. Afterwards, you have an interview

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Speaker 1: with Tim Lawless, research director at core Logic.

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Speaker 2: It is a fantastic chat about all the major property markets,

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Speaker 2: capital cities, regions. We talk about why Melbourne is so weak,

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Speaker 2: what Sydney's doing, why Perth Brisbane Adelaide is so strong,

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Speaker 2: what's going on in hober what's going on in the regions.

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Speaker 2: It's it's just really it's a deep dive into the

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Speaker 2: numbers that we talk about all the time with Tim.

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Speaker 2: No one knows the market better than Tim Lawlas. That's

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Speaker 2: for sure, and it's just fantastic chat about exactly what's

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Speaker 2: happening in each of those markets.

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Speaker 3: Oh.

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Speaker 1: Absolutely, And if you listen to this one interview, you

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Speaker 1: will automatically be prepared for any barbecues you go to

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Speaker 1: on the weekend in order just to rattle off facts

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Speaker 1: about every housing market in the country, and you will

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Speaker 1: sound like an expert.

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Speaker 2: Yeah. I think people won't hang around with you.

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Speaker 1: Yeah, No, Sean, you don't need friends when you've got facts.

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Speaker 1: That's what I always say. True, True, it is worth

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Speaker 1: sticking around for. It's coming up a bit later on

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Speaker 1: the main story this morning, though, Sean. The Fair Work

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Speaker 1: Commission has awarded a three point seventy five percent pay

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Speaker 1: rise to two point six million minimum wage and Award

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Speaker 1: reliant workers.

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Speaker 2: And it's annual wage decision. The commission full bench, headed

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Speaker 2: by President Adam Hatcher, said the increase factored in cost

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Speaker 2: of living pressures felt by households, but he said the

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Speaker 2: bench did not want to award an increase significantly above inflation,

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Speaker 2: and the three point seventy five percent rise factored in

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Speaker 2: the July one tax cuts any superannuation guarantee increase. The

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Speaker 2: amount is slightly above the inflation rate, and in dollar terms,

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Speaker 2: the lowest paid workers will receive thirty three dollars and

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Speaker 2: ten cents more a week. That makes the minimum wage

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Speaker 2: nine hundred and fifteen dollars.

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Speaker 3: Ninety a week.

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Speaker 2: The decision directly or indirectly affects about twenty five percent

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Speaker 2: of the workforce, including those whose wages are set by

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Speaker 2: industry awards. Mister Hatcher said the increase was consistent with

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Speaker 2: inflation returning to below three percent. By twenty twenty five,

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Speaker 2: the ACTU had sort of five percent pay rise, while

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Speaker 2: employer groups sought to limit the increase to no more

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Speaker 2: than two point eight percent. The full bench also deferred

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Speaker 2: an ACTU claimed for a four percent pay rise in

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Speaker 2: female dominated industries. This is on top of the increase

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Speaker 2: in the minimum wage. The Fair Work Commission will undertake

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Speaker 2: a study to address gender undervaluation. This is to look

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Speaker 2: at inequity in many female dominated industries such as early

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Speaker 2: childhood education and care workers, disability home care workers, those

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Speaker 2: working in other social and commuitnunity services, dental assistants, medical technicians,

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Speaker 2: psychologists and other health professionals, and pharmacists sean.

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Speaker 1: A decision like this can often be quite controversial. What

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Speaker 1: was the reaction like yesterday?

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Speaker 2: It was mixed as you would expect, but generally I

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Speaker 2: think most people welcomed it. In fact, it was probably

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Speaker 2: met with more applause than any of these decisions in

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Speaker 2: recent times. The federal government has always pushed for an

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Speaker 2: increase at least in line with inflation. That happened. Economists

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Speaker 2: predicted that anything more than four percent would be inflationary.

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Speaker 2: That didn't happen cos BABA was pretty quickly out of

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Speaker 2: the box. It said three point seventy five percent on

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Speaker 2: top of last year's five point seventy five percent, was

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Speaker 2: putting pressure on its membership. It was particularly harsh for

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Speaker 2: industries like hospitality, retail and services because labor costs make

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Speaker 2: up half of a verall operating costs. The Australian Chamber

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Speaker 2: of Commerce and Industry, which is an employee group, so

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Speaker 2: the increase tests the acceptable limits for business, but shouldn't

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Speaker 2: drive up inflation. I reckon that's a tick of approval

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Speaker 2: the Act. You worked some numbers and said entry level

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Speaker 2: retail or hospitality workers will be about twenty six hundred

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Speaker 2: dollars a year better off after taking into account the

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Speaker 2: Fair Work Commission ruling, and of course the Stage three

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Speaker 2: tax cuts they kick in on July one. All taxpayers

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Speaker 2: will get a tax cut from that time, so it's

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Speaker 2: actually quite a boost to take home pay from July one.

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Speaker 1: We did a little video sean on TikTok and Instagram

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Speaker 1: and Facebook yesterday, follow Fear and gret on all of

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Speaker 1: those platforms, and you'll see our videos that we put out.

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Speaker 1: We try to do them pretty much every day, and

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Speaker 1: this one got quite a reaction on TikTok in particular,

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Speaker 1: basically people digesting reacting to the decision, and I would

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Speaker 1: say the initial response was mixed. There's a lot of

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Speaker 1: people that will never quite be satisfied, I suspect, with

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Speaker 1: any decision along these lines, but you are right, generally

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Speaker 1: the decision seems to have been met with a reasonable

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Speaker 1: amount of positivity.

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Speaker 2: Now, Michael, you're going to have to tell a story

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Speaker 2: about one of the first ones you got who equated

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Speaker 2: the thirty three dollars.

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Speaker 1: That's that's right. Well, this would be almost my favorite

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Speaker 1: comment so far. Someone's celebrating saying thirty three dollars a week,

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Speaker 1: which is what it essentially equates to. They used an expletive.

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Speaker 1: I really shouldn't use it on here because this is

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Speaker 1: a family podcast. But they said, yeah, that's like two

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Speaker 1: zinger boxes, which I just love. They have equated the

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Speaker 1: increase in the minimum wage to what they will buy

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Speaker 1: at KFC, which that's a very Australian thing.

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Speaker 3: It was pretty funny.

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Speaker 1: Yes, it's very good, all right. Local markets, what happened

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Speaker 1: yesterday is a pretty good day for the market, with

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Speaker 1: yes and PASX two hundred closing up nearly one percent

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Speaker 1: to seven seven hundred and sixty one points.

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Speaker 2: Financials, utilities and property stocks did best, while the tech

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Speaker 2: and telco indices went backwards. It was a day for

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Speaker 2: the banks. Westpac closed up more than two percent, Comwealth Bank,

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Speaker 2: National Australian Bank and Amians at All jump more than

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Speaker 2: one percent. Goodman Group was good. It was two percent higher,

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Speaker 2: while Ways to Take Global was down more than a

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Speaker 2: half percent. The big miners were mixed, while the insurers

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Speaker 2: did well. QBE jumped two point three percent, IAG rose

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Speaker 2: one point five percent and Suncorp finished one percent higher.

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Speaker 2: In corporate news, New Zealand dairy group Sinlett's share price

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Speaker 2: fell more than two percent after it warned of ongoing

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Speaker 2: week training conditions. In a risk it's unlikely to meet

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Speaker 2: three of its current banking covenants at the end of

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Speaker 2: next month. And APM Human Services closed up ten percent.

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Speaker 2: It's done a deal to be bought by Chicago's Madison

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Speaker 2: Dearborn Partners and Sean.

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Speaker 1: There's a bit happening on international markets, sure is.

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Speaker 2: APEC plus members have agreed to extend cuts in oil production,

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Speaker 2: in some cases to the end of next year, as

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Speaker 2: they battle the shore up prices amid week global demand

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Speaker 2: and increased supply from other parts of the world. At

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Speaker 2: its latest biannual meeting, the cartel conceded that it had

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Speaker 2: no room yet to change stands on output cuts that

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Speaker 2: began in November twenty two, only two pleaching to keep

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Speaker 2: more than three million barrels a day of crude off

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Speaker 2: the market until the end of next year. Why do

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Speaker 2: we care about that, Michael, Well, that basically puts a

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Speaker 2: floor on petrol prices.

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Speaker 3: At the moment. They're reasonably cheap in long.

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Speaker 2: The East Coast, not so cheap on the West coast.

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Speaker 2: What OPEK has come out and done. They say we're

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Speaker 2: going to not put too much oil into the market.

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Speaker 2: Therefore petrol prices they're not going to get much lower

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Speaker 2: than what they are now for the foreseeable future. Anyway,

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Speaker 2: it's good economic news out of China, with the measure

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Speaker 2: of the manufacturing sector hitting a near two year high.

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Speaker 2: There has now been four months of growth on the

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Speaker 2: factory floor in China, and currency markets IZI dollars trading

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Speaker 2: around sixty six and a half fews cents or currencies

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Speaker 2: remain pretty strong. Bitcoin's worth sixty eight thousand US dollars

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Speaker 2: a unit.

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Speaker 1: Sean, you used a word when you were talking about

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Speaker 1: opek Plus. It's just one of those words. It's so

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Speaker 1: confusing when you say that opek plus held its bi

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Speaker 1: annual meeting, which of course means that they meet twice

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Speaker 1: a year. And this is one of those things that

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Speaker 1: I need to google it. I need to check every

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Speaker 1: single time. Is it bi annual being twice a year,

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Speaker 1: or biennial which is every two years?

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Speaker 2: Yes, Now I know exactly what you mean, because whenever

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Speaker 2: I see that word, it's exactly the same. The AA

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Speaker 2: gives it away like annual by so that's twice annual

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Speaker 2: and by any all. But I know exactly what you mean.

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Speaker 2: I have to look twice all the time.

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Speaker 1: Yeah, maybe we should start a campaign to have that

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Speaker 1: changed permanently. I don't know who your campaign campaign the dictionary.

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Speaker 2: Oxford Dictionary or somewhere.

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Speaker 1: Yeah, it's a grassroots campaign, Sean, I don't know. Maybe

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Speaker 1: we'll use the newsletter. Perfect time to plug the newsletter.

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Speaker 1: Head along to Fearangreed dot com dot AU. Put your

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Speaker 1: email address in and you will get the Fear and

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Speaker 1: Greed newsletter. It comes out tomorrow morning mid morning, all

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Speaker 1: of Sean's thoughts on a whole bunch of big business stories,

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Speaker 1: everything that's happened in the last week that you've heard

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Speaker 1: the facts, Now get Sean's views on it. I'm talking

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Speaker 1: about you like you're not even hear.

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Speaker 3: Sure, I'm in the room. Yeah, I'm sorry.

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Speaker 1: Anyway, head along to Fear and Greed dot com dot you.

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Speaker 1: Put your email address in and you'll get it in

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Speaker 1: the morning. We'll be back in a moment with the

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Speaker 1: rest of the day's business news sewn. Treasury Secretary Stephen

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Speaker 1: Kennedy yesterday gave a solid defense of the tax system,

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Speaker 1: saying he's quite comfortable with the current corporate tax rate

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Speaker 1: and Australia's reliance on income and company tax rates.

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Speaker 2: Mister Kennedy said in light of current circumstances, the company

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Speaker 2: tax rate is appropriate. He also wouldn't be drawn on

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Speaker 2: whether last month's budget was expansionary or contractionary, but said

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Speaker 2: the budget was consistent with inflation returning to target. Over

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Speaker 2: the diplomat, mister Kennedy, the Treasury Secretary, was in front

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Speaker 2: of standard estimates. He said there's a range of factors

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Speaker 2: contributing to the shortage of housing, including COVID nineteen related

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Speaker 2: bottlenecks and high inflation. Not helping has been a lack

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Speaker 2: of essential infrastructure in some greenfield sites and a shortage

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Speaker 2: of skilled labor. Mister Kennedy also warned that the March

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Speaker 2: quarter economic growth figure due out tomorrow will be very weak.

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Speaker 1: And just before we leave canbro Sean Former Treasurer Josh

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Speaker 1: Fridenberg has scotched speculation about his return to Federal Parliament

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Speaker 1: at the next election.

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Speaker 2: Mister Fridenburg said he's backing Emilia Hamar, the current Liberal

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Speaker 2: Party candidate for his old seat of Couyong. Mister Friedenburg

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Speaker 2: lost the twenty twenty two poles to Teal independent Menie Grin.

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Speaker 2: At the moment, at least, he's not interested. I do

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Speaker 2: just want to point out another great word that you

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Speaker 2: used there, and you know what it.

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Speaker 3: Is, scotched.

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Speaker 1: Scotched. Yeah, it's just it's such a rich word, isn't it.

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Speaker 1: He can almost taste.

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Speaker 3: It, Well you can, that's.

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Speaker 1: Right, and call me a cynic here, Sean, But do

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Speaker 1: you just reckon that maybe Josh Fridenburg didn't quite get

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Speaker 1: the support, the initials rush of support that he was

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Speaker 1: hoping for, and now goes no, no, no, never even

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Speaker 1: considered it.

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Speaker 3: Yeah.

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Speaker 2: Yeah, he didn't exactly rush out to say, because this

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Speaker 2: was around on Sunday afternoon. It took him a good

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Speaker 2: twenty four hours or say, before he came out.

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Speaker 3: Said I'm not going to do it. He heard a

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Speaker 3: few voices first.

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Speaker 1: Yeah, yeah, just to run it up the flagpole first,

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Speaker 1: all right, sewn. The federal government has ordered some offshore

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Speaker 1: shareholders of rare earth hopeful Northern Minerals to sell down

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Speaker 1: their stakes because it isn't in the national interest.

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Speaker 2: This is fascinating and I've got to say the Financial

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Speaker 2: Review did a great job explaining this story to me,

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Speaker 2: so all credit to them on this story. Northern Minerals

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Speaker 2: minds two little known minerals ones called dysprosium the other turbium.

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Speaker 2: They're used in the production of high performance magnets, batteries

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Speaker 2: and defense equipment.

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Speaker 3: I'd never heard of them.

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Speaker 1: It does sound like you made them up.

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Speaker 2: I'm sure they're on the periodic table. Didn't never do

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Speaker 2: chemistry anyway, disprosium and turbium. Northern Minerals minds them. Chinese

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Speaker 2: businessman Wu Tao bought a nine point nine percent stake

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Speaker 2: in the company, then a couple of years ago tried

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Speaker 2: to lift that to nineteen point nine percent. Tao is

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Speaker 2: a big wig in the Chinese rare earths world. When

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Speaker 2: he tried to go to nineteen point nine percent, the

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Speaker 2: Foreign Investment Review Board said, we're not going to allow that.

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Speaker 3: Now.

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Speaker 2: Mister Tower is accused of orchestrating the buying of shares

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Speaker 2: in the company via a series of related entities and parties.

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Speaker 2: When the buying began late last year, the then CEO

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Speaker 2: of Northern Minerals, a guy called Nick Curtis, thought it's

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Speaker 2: a bit unusual. He reported that to the Foreign Investment

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Speaker 2: Review Board soon after. He reported the buying to FERB.

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Speaker 2: Shareholders then attempted to remove him as a director. Mister

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Speaker 2: Kurs resigned a week ago, not wanting to go through

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Speaker 2: that process of the extraordinary General meeting. Now, Federal treasure

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Speaker 2: Jim Chalmers has ordered one of the associated companies named Yakshow,

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Speaker 2: to reduce its state from nine point eight percent to

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Speaker 2: eight point five percent. Four other apparently associated shareholders have

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Speaker 2: been told to reduce their stakes combined to about nine percent.

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Speaker 2: Very very unusual for disposed orders like that to happen

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Speaker 2: in commercial matters. The invocation is that Charmers has used

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Speaker 2: his power to prevent a surreptitious attempt by Chinese interests

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Speaker 2: related to Wu Tao to grab control of the promising

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Speaker 2: Aussie minor, great little tale that's.

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Speaker 1: Got all the makings of a movie. I mean, probably

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Speaker 1: a somewhat honestly quite a dull movie, but a movie

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Speaker 1: like it's got kind of it may not be top ten,

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Speaker 1: yeah maybe not, maybe not, but it's got like it's

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Speaker 1: got turbium and dysprosium and kind of waging to go

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Speaker 1: wrong foreign interests. Oh goodness me, I'm selling it to

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Speaker 1: myself here, Sean. Now, the chief executive of Smiggle has

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Speaker 1: jumped ship and will run fast fashioned jewelry chain Leavisa.

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Speaker 2: Well, see that last story was like intrigue in the

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Speaker 2: mining industry. This is intrigue in the retail sector. Because

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Speaker 2: in the retail world there are some very high profile,

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Speaker 2: very rich players. This story is about two those people.

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Speaker 2: One of them is Solomon Lou who controls Premier Investments,

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Speaker 2: the owner of Smiggle. The other one is Brett Blundy,

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Speaker 2: the person who launched Levisa. Now John Cheston, currently at Smiggle,

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Speaker 2: will take over at Levisa, so he's gone from the

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Speaker 2: Lou camp to the Blundy camp. Not long ago, Mark McGinnis,

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Speaker 2: who was expected to take the top job at Meyer

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Speaker 2: he used to be at David Jones May, of course,

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Speaker 2: is another Solomon Lou company. Well, he opted to go

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Speaker 2: and work for mister Blundy's empire.

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Speaker 3: So two of them.

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Speaker 2: Now I've gone to miss the Blundy's empire. All this

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Speaker 2: is happening is Premier looks to spin off Smiggle and

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Speaker 2: Peter Alexander the pajama brand onto the Stock Exchange. Add

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Speaker 2: to the story the fact that the guy leaving Smiggle,

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Speaker 2: the guy being replaced, Victor Herrero, is the second highest

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Speaker 2: paid CEO on the ASX.

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Speaker 3: But did you understand did you understand all that Michael

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Speaker 3: or not.

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Speaker 1: I need it feels like gamer Thrones. I actually it

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Speaker 1: is like I need a little kind of family tree.

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Speaker 1: But I am following it.

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Speaker 2: Yes, yes, yes, what shareholders certainly understood. Because Lisa closed

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Speaker 2: down a lit percent yesterday. The Premiere also finished down

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Speaker 2: four percent. It was just to sell off from both

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Speaker 2: of them. Fascinating to see that the battle between the billionaires.

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Speaker 2: Perhaps we can put it that way.

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Speaker 1: Yeah, that is a great story.

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Speaker 3: Now.

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Speaker 1: New research from the Corporate Watchdog shows that five point

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Speaker 1: eight million Australians have struggled to make loan and debt

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Speaker 1: repayments in the past twelve months.

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Speaker 3: That is huge.

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Speaker 2: That's nearly half the population with a debt. The top

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Speaker 2: reasons people fall into debt a cost of living pressures,

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Speaker 2: reduced income and unexpected expenses. Yet thirty percent of Australians

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Speaker 2: one in three so they wouldn't seek hardship assistance arrangements

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Speaker 2: from their lender or credit provider. In fact, they'd rather

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Speaker 2: sell stuff or get a second job or something rather.

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Speaker 2: The main reasons people don't seek help from their lender,

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Speaker 2: according to the Australian Securities and Investments Commission, is anxiety

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Speaker 2: and stress, shame, or embarrassment, lack of awareness or not

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Speaker 2: knowing where.

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Speaker 3: To go for help.

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Speaker 2: The research is part of ESSEX Just Ask Hardship Help

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Speaker 2: is Available campaign basically telling people if you are struggling,

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Speaker 2: ring your lender, visit your lender, email your lender, call

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Speaker 2: your lender, do whatever you want, but just get in

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Speaker 2: touch with them.

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Speaker 3: And I couldn't agree more.

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Speaker 1: Yeah, absolutely, Sean. The Super Members Council of Australia is

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Speaker 1: calling for an end to the ban on older Australians

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Speaker 1: receiving contributions into retirement phase super accounts. They're arguing that

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Speaker 1: it penalizes those dipping back into the workforce later in life.

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Speaker 2: This is going to get very interesting in the next

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Speaker 2: few years. The Industry super Lobby group wants the federal

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Speaker 2: government to lift the rule that forces working retirees people

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Speaker 2: over the age of sixty five who are working to

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Speaker 2: open a separate accumulation account for their super contributions to

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Speaker 2: go into. Under the current rule, working retirees end up

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Speaker 2: paying two sets of account fees, often slug with more

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Speaker 2: taxes because they've got the one that they used until

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Speaker 2: I was sixty five and then now they've got this

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Speaker 2: other one that they've got to use after their sixty five.

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Speaker 2: It comes as new research shows one in four Australians

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Speaker 2: can continue to work into the early seventies and the

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Speaker 2: retirement of two point five million baby boomers over the

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Speaker 2: next decade will flood the retiree pool. Many of them

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Speaker 2: will want to work again. We don't need all these

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Speaker 2: extra accounts. The Lobby Group made the call yesterday as

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Speaker 2: it announced its new chair and Sherry Ao will take

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Speaker 2: over from interim chair Nicola Roxen. According to report in

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Speaker 2: The Australian.

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Speaker 1: Finally, Sean, before we get to international news. Well, I

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Speaker 1: suppose it's actually almost neatly straddles international news, doesn't it,

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Speaker 1: Because he's not an Australian citizen anymore. Rupert Murdoch has

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Speaker 1: married for the fifth time, tying the knot with retired

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Speaker 1: molecular biologist Elaina Zukova.

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Speaker 2: The ninety three year old Murdoch married the sixty seven

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Speaker 2: year olds of Cova and his Californian vineyard last year.

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Speaker 2: Mister Murdock was briefly engaged to a former police chaplain.

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Speaker 2: Prior to that, he was married to former model Jerry

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Speaker 2: Hall for six years. Anyway, good luck to mister Murdoch

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Speaker 2: and Zakova.

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Speaker 1: Yeah, yeah, indeed turn into international news. Now South Africa's

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Speaker 1: African National Congress has begun talks with rivals to form

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Speaker 1: a governmentollowing its worst performance since Nelson Mandela led it

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Speaker 1: to power at the end of apartheid in nineteen ninety four.

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Speaker 2: The A and C obtained at one hundred and fifty

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Speaker 2: nine or the four hundred seats in the National Assembly

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Speaker 2: in the May twenty nine elections, a precipitous decline from

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Speaker 2: the two hundred and thirty seats President Cyril Remberfosa's party

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Speaker 2: won five years ago. The A and C's slump comes

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Speaker 2: after years of poor economic management and corruption. South Africa

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Speaker 2: has one of the world's highest unemployment rates and weak growth.

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Speaker 2: According to Bloomberg, the A and C is now likely

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Speaker 2: to be forced to rely on cooperation from rivals if

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Speaker 2: it is to retain power. The Democratic Alliance scored eighty

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Speaker 2: seven seats. That'll mean since the main opposition party, interestingly,

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Speaker 2: a party led by a former ANC leader and National

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Speaker 2: President Jacob Zuma, was third, It won fifty eight seats

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Speaker 2: just six months after its launch. Now, the A and

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Speaker 2: C kicked Zooma out of office after nine scandal tainted years.

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Speaker 2: Maybe the ANC will have to do a deal with

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Speaker 2: their former leader. Also, Mexico went to the polls and

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Speaker 2: the early polling results suggest that Mexico, for the first time,

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Speaker 2: has a female president. Claudia Shinbaum looks to have won

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Speaker 2: the presidency. She's a close ally to Andre Manuel Lopez Obrador,

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Speaker 2: who has been in power for quite a few years.

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Speaker 2: He wasn't allowed to run again. Away in Mexico has

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Speaker 2: its first female president.

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Speaker 1: Goodness may there's a few elections going on.

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Speaker 3: Yeah.

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Speaker 2: Remember at the beginning of the year, we did a

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Speaker 2: story where I'm trying to think that forty percent of

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Speaker 2: the world's population was voting this year.

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Speaker 1: That's a very good point.

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00:19:31,760 --> 00:19:37,399
Speaker 2: It's phenomics, Indonesia, India, Mexico, the United States of course,

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Speaker 2: South Africa, these Bangladesh, UK, actually in the UK. Yeah, Like,

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Speaker 2: it's amazing, these hugely populous nations going to the polls.

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Speaker 1: Yeah. Interesting, It's a very, very very big year for democracy, Sean.

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Speaker 3: It is a very big year for democracy. Michael.

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Speaker 1: Finally, and Video announced the next generation of its artificial

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Speaker 1: intelligence processes over the weekend, less than three months after

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Speaker 1: its most recent launch.

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Speaker 2: Yes, the Chief executive Jensen Huang unveiled Ruben, the successor

399
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Speaker 2: to its Blackwell chips for data centers. Now, the Blackwall

400
00:20:13,000 --> 00:20:15,720
Speaker 2: chips were announced in March. They're in production, they none

401
00:20:15,800 --> 00:20:19,280
Speaker 2: have yet been shipped, so in Nvidia has announced the

402
00:20:19,280 --> 00:20:23,880
Speaker 2: newest chip for the older chip has even left the factory.

403
00:20:25,800 --> 00:20:26,719
Speaker 3: Production cycle.

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00:20:26,920 --> 00:20:31,480
Speaker 2: Look, I get being first market, but really, maybe is

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Speaker 2: it just like ooks, we made a mistake on those

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00:20:33,760 --> 00:20:35,239
Speaker 2: other ones, so we're just gonna update them and call

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00:20:35,240 --> 00:20:37,600
Speaker 2: them something different, or just doesn't it just show just

408
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Speaker 2: the incredible speed at which it's moving that they suddenly go,

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Speaker 2: oh my god, we've got another one ready to go, quick,

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Speaker 2: get it out there.

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Speaker 1: I was just looking to see who was named after,

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Speaker 1: because the Ruben is an interesting name. It was named

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Speaker 1: after an astronomer, Via Ruben, who made according to according

414
00:20:55,160 --> 00:20:59,199
Speaker 1: to Google, Sean made significant contributions to our understanding of

415
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Speaker 1: dark matter in the universe and conducted pioneering work on

416
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Speaker 1: galaxy rotation rates.

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Speaker 3: Oh, I'm very interested in galaxy rotation rates.

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Speaker 1: See the thing. At least I pretend to be interested

419
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Speaker 1: in what you say. Sometimes you just kind of straight

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Speaker 1: out just be sarcastic a little bit snide.

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Speaker 2: No, no, no, but kind of along these I say,

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Speaker 2: Jensen Wang said a new computer age you're starting with

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Speaker 2: talking about that when he unveiled these new chips. He's

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00:21:27,520 --> 00:21:31,840
Speaker 2: also done new AI chip deals with PC makers. The

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00:21:31,920 --> 00:21:36,960
Speaker 2: issue here Ruben is much more Ruben as opposed to Blackwall,

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Speaker 2: is more efficient than previous chips, and apparently the big

427
00:21:41,920 --> 00:21:46,760
Speaker 2: promise from Nvidia is that they will improve power efficiency

428
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Speaker 2: the new Reuben chip. Energy efficiency is becoming much more

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Speaker 2: important because the expansion of AI data centers is putting

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Speaker 2: huge strain on energy grids all over the place. And

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Speaker 2: so apparently the big change between Blackwall and Ruben is its.

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Speaker 3: Energy of fish.

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Speaker 2: And see there you go, which is interesting because that's

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Speaker 2: sort of about black matter.

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Speaker 3: No idea where that's true, but just sort of throwing it.

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00:22:07,280 --> 00:22:10,040
Speaker 1: And it ties neatly to the galaxy rotation rate, which

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Speaker 1: is actually quite fast.

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Speaker 3: It's very efficient. There you go.

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00:22:13,480 --> 00:22:16,119
Speaker 1: We have successfully found a link. And I suspect we

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00:22:16,200 --> 00:22:18,840
Speaker 1: finished the show talking absolute nonsense. Sean, Yes, I think

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00:22:18,880 --> 00:22:22,120
Speaker 1: so you know who's not talking nonsense. Tim Lawless, research

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00:22:22,200 --> 00:22:24,320
Speaker 1: director at core Logic, and your guest today on the

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00:22:24,320 --> 00:22:25,919
Speaker 1: Fear and Greed Daily Interview.

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00:22:25,880 --> 00:22:28,840
Speaker 2: Yes, all about housing prices, what's happening in the capital

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00:22:28,880 --> 00:22:29,800
Speaker 2: cities and the regions.

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00:22:29,800 --> 00:22:30,240
Speaker 3: Great chat.

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00:22:30,440 --> 00:22:32,120
Speaker 1: Yeah, it's up next to the Fear and Greed playlist

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00:22:32,160 --> 00:22:34,760
Speaker 1: on your podcast platform or at Fearangreed dot com dot au,

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00:22:34,800 --> 00:22:36,080
Speaker 1: which is where you can sign up for the Fear

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00:22:36,080 --> 00:22:39,240
Speaker 1: and Greed newsletter out tomorrow. Thank you, Sean, Thank you Mike.

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00:22:39,280 --> 00:22:40,840
Speaker 2: Before I go there, Michael, I've got to have a

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00:22:40,880 --> 00:22:44,000
Speaker 2: quick shout out to my mate Waddo, Greg Watson. He

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00:22:44,119 --> 00:22:46,320
Speaker 2: sent me a photo over the weekend. He lives on

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00:22:46,359 --> 00:22:50,480
Speaker 2: the Central Coast in New South Wales, of Jakito's on

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00:22:50,880 --> 00:22:52,159
Speaker 2: sale dollar fifty.

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00:22:52,920 --> 00:22:56,800
Speaker 1: That's right, because last week you admitted that Chakito's are

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Speaker 1: the things that you always buy when you go into

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00:22:59,040 --> 00:23:01,520
Speaker 1: a convenience or on a petrol station, because, of course,

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00:23:01,520 --> 00:23:03,560
Speaker 1: we talked about the fact that convenience doores and petrol

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00:23:03,560 --> 00:23:06,879
Speaker 1: stations are booming because of what people are buying apart

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00:23:06,920 --> 00:23:09,920
Speaker 1: from petrol, and you said that you're basically keeping seven

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00:23:09,920 --> 00:23:12,840
Speaker 1: to eleven afloat because of your obsession with chikechaquitos.

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00:23:12,960 --> 00:23:14,520
Speaker 2: So he sent me a photo. When I sent me

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00:23:14,560 --> 00:23:18,400
Speaker 2: a photo half priced all twenty five at Woolly's chikitos.

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00:23:18,320 --> 00:23:20,119
Speaker 1: And did you go out and buy some?

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00:23:20,600 --> 00:23:23,800
Speaker 3: Absolutely, you must.

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00:23:23,640 --> 00:23:25,479
Speaker 1: Be the only person in the world who's going out

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00:23:25,520 --> 00:23:28,720
Speaker 1: and stocking up on chaquitos. Anyway, thank you, Sean. It

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00:23:28,800 --> 00:23:31,280
Speaker 1: is Tuesday, the fourth of June twenty twenty four. Make

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00:23:31,320 --> 00:23:33,920
Speaker 1: sure you're following the podcast and please join us online

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00:23:33,920 --> 00:23:37,560
Speaker 1: on LinkedIn, Instagram, x TikTok, and Facebook. Michael Thompson and

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00:23:37,600 --> 00:23:41,919
Speaker 1: that was fear and greed. Have a great day.