1 00:00:06,360 --> 00:00:08,840 Speaker 1: This is the weekend edition of Fear and Greed business 2 00:00:08,880 --> 00:00:11,639 Speaker 1: news you can use. I'm Michael Thompson and good morning 3 00:00:11,720 --> 00:00:12,480 Speaker 1: Sean Aylmer. 4 00:00:12,720 --> 00:00:14,880 Speaker 2: Good morning, Michael, Sean. 5 00:00:15,040 --> 00:00:16,639 Speaker 1: Our weekend show is all about the two of us, 6 00:00:16,680 --> 00:00:19,120 Speaker 1: each nominated what we think is the biggest business story 7 00:00:19,160 --> 00:00:22,599 Speaker 1: of the week, the most remarkable business story, a mystery category. 8 00:00:22,640 --> 00:00:25,200 Speaker 1: We changed that one every week just to keep things 9 00:00:25,360 --> 00:00:31,440 Speaker 1: very exciting, and then our favorite business related story. It 10 00:00:31,520 --> 00:00:35,200 Speaker 1: is a competition. It is a fierce debate, and there 11 00:00:35,280 --> 00:00:37,479 Speaker 1: must be a winner. We don't want to have a 12 00:00:37,600 --> 00:00:41,600 Speaker 1: draw or anything like that, anything dull. We want a winner. 13 00:00:41,800 --> 00:00:43,840 Speaker 1: We need a judge to pick a winner, a judge 14 00:00:43,840 --> 00:00:47,159 Speaker 1: with a backbone to pick a winner that judges our 15 00:00:47,159 --> 00:00:49,760 Speaker 1: Fear and Greed colleague Adam Laying Adam, good morning. 16 00:00:50,040 --> 00:00:52,040 Speaker 3: Good morning Michael, and good morning Sean. 17 00:00:52,280 --> 00:00:52,720 Speaker 2: Good morning. 18 00:00:52,760 --> 00:00:53,040 Speaker 3: Adam. 19 00:00:53,440 --> 00:00:55,160 Speaker 2: Going to be as generous as ever this week? 20 00:00:55,760 --> 00:01:00,240 Speaker 4: I think so, But you never know something, some thing 21 00:01:00,320 --> 00:01:01,360 Speaker 4: might tick me off. 22 00:01:02,000 --> 00:01:06,200 Speaker 5: You know what would take off Adam. This is a 23 00:01:06,240 --> 00:01:10,839 Speaker 5: really good question because Adam is for people who know Adam. 24 00:01:11,120 --> 00:01:15,959 Speaker 5: He is convivial at all times. He's just a nice guy. 25 00:01:16,959 --> 00:01:21,080 Speaker 5: And I would like to find something we will have 26 00:01:21,080 --> 00:01:22,560 Speaker 5: to get a Lara for this one, because I'm sure 27 00:01:22,600 --> 00:01:26,440 Speaker 5: she doesn't thinks Lara being Adams, what we. 28 00:01:26,480 --> 00:01:27,480 Speaker 3: Need to go personal? 29 00:01:27,640 --> 00:01:31,960 Speaker 1: You know what I think. I think Adam would only 30 00:01:32,080 --> 00:01:36,880 Speaker 1: Marcus down or would really get ticked off on matters 31 00:01:37,520 --> 00:01:40,399 Speaker 1: of subjective bias, because there's one of the criteria that 32 00:01:40,440 --> 00:01:43,400 Speaker 1: you do look for, because economic impact, a few other 33 00:01:43,440 --> 00:01:47,440 Speaker 1: things that I've forgotten, but also subjective bias is up 34 00:01:47,480 --> 00:01:50,760 Speaker 1: there as well, And I reckon if you don't nail 35 00:01:50,800 --> 00:01:55,880 Speaker 1: a subjective bias, then that ticks him off. An opportunity missed, 36 00:01:56,120 --> 00:01:57,800 Speaker 1: Like if you were to declare that you know what's 37 00:01:57,840 --> 00:02:00,720 Speaker 1: awful tax reform, I hate reform. Then all of a 38 00:02:00,760 --> 00:02:04,480 Speaker 1: sudden you see the little twitch in Adam's eyebrow and 39 00:02:04,600 --> 00:02:07,320 Speaker 1: you know you're getting marked down. That is him ticked off, 40 00:02:07,320 --> 00:02:09,120 Speaker 1: and you don't want to see that. What else are 41 00:02:09,120 --> 00:02:12,360 Speaker 1: we looking for, Adam, Economic impact, melodrama. 42 00:02:11,800 --> 00:02:15,400 Speaker 4: Subjective topicality, and timeliness. Of course, we want to be 43 00:02:15,440 --> 00:02:18,320 Speaker 4: relevant for the audience. Economic impact is a big one 44 00:02:18,360 --> 00:02:22,000 Speaker 4: for this show. Subjective bias, and of course melodrama. 45 00:02:23,440 --> 00:02:27,240 Speaker 1: Okay, we can do that. Sean biggest story of the week, 46 00:02:27,240 --> 00:02:28,560 Speaker 1: What was it only one? 47 00:02:28,560 --> 00:02:28,960 Speaker 3: This week. 48 00:02:30,520 --> 00:02:32,480 Speaker 2: Do I need to even inform you on what it was? 49 00:02:34,080 --> 00:02:38,519 Speaker 1: Look it all help short? Maybe that's maybe that's the 50 00:02:38,600 --> 00:02:41,640 Speaker 1: key to getting the show a bit shorter. Just not 51 00:02:41,800 --> 00:02:43,200 Speaker 1: actually share the stories. 52 00:02:43,520 --> 00:02:44,280 Speaker 2: No, what is it? 53 00:02:44,400 --> 00:02:44,600 Speaker 1: Oh? 54 00:02:44,800 --> 00:02:48,200 Speaker 5: House prices don't know when to give up. September delivered 55 00:02:48,200 --> 00:02:53,160 Speaker 5: the strongest monthly rise in national dwelling values since October 56 00:02:53,200 --> 00:02:57,200 Speaker 5: twenty twenty three. According to the Totality House Value Index, 57 00:02:57,320 --> 00:03:00,639 Speaker 5: it jumped zero point eight percent and momentum is picking up. 58 00:03:00,919 --> 00:03:04,280 Speaker 5: During the September quarter, the index was up two point 59 00:03:04,280 --> 00:03:06,600 Speaker 5: two percent, and the Dune quarter was one point five percent. 60 00:03:06,919 --> 00:03:09,320 Speaker 5: March quarter one point one percent. So, Adam, you are 61 00:03:09,320 --> 00:03:11,440 Speaker 5: a genius when it comes to mathematics and economics. You'll 62 00:03:11,480 --> 00:03:14,760 Speaker 5: understand one point one twice is two point two, therefore 63 00:03:15,120 --> 00:03:17,840 Speaker 5: double the pace of growth in six months. In dollar terms, 64 00:03:18,360 --> 00:03:22,519 Speaker 5: the September quarter rise was equivalent to about an eighteen 65 00:03:22,560 --> 00:03:26,440 Speaker 5: thousand dollars increase in the median dwelling value. Very broad 66 00:03:26,480 --> 00:03:28,400 Speaker 5: based of growth, every capital city and the rest of 67 00:03:28,440 --> 00:03:31,640 Speaker 5: state region recording an increase in dwelling values over the 68 00:03:31,680 --> 00:03:35,280 Speaker 5: month the quarter. In the most recent twelve month period. 69 00:03:35,320 --> 00:03:38,360 Speaker 5: That being said, some divergence in the pace of growth 70 00:03:38,440 --> 00:03:42,240 Speaker 5: is once again emerging. Perth and Brisbane are added again, 71 00:03:42,320 --> 00:03:45,320 Speaker 5: pulling ahead of the larger capitals, with values up four 72 00:03:45,360 --> 00:03:48,360 Speaker 5: percent three and a half percent respectively through the September quarter. 73 00:03:48,800 --> 00:03:51,440 Speaker 5: The pace of gains are being led by the unit market. 74 00:03:51,480 --> 00:03:55,320 Speaker 5: There Darwin's showing even stronger run of growth, values jumping 75 00:03:55,320 --> 00:03:58,080 Speaker 5: almost six percent. Why is this happening? Lack of new 76 00:03:58,120 --> 00:04:01,360 Speaker 5: stock on the market, lower interest rates, government first home 77 00:04:01,400 --> 00:04:04,640 Speaker 5: buyer scheme in Reserve Bank Governor Michelle Bullok this week 78 00:04:04,720 --> 00:04:08,839 Speaker 5: said rates for impacting house prices sooner than expected given. 79 00:04:08,560 --> 00:04:10,560 Speaker 2: The third third third rule. 80 00:04:10,640 --> 00:04:14,800 Speaker 5: To me, the third third rule is anyone. 81 00:04:15,280 --> 00:04:19,080 Speaker 1: It's the rule of the three thirds, where you have 82 00:04:19,160 --> 00:04:22,640 Speaker 1: the thirds that all add up to make one full hole. 83 00:04:23,040 --> 00:04:24,120 Speaker 2: That's it. That's it. 84 00:04:24,160 --> 00:04:27,080 Speaker 5: There we go, well done. Otherwise that as third of 85 00:04:27,120 --> 00:04:29,560 Speaker 5: the people own their own home, a third of the 86 00:04:29,600 --> 00:04:32,400 Speaker 5: people rent, and a third of the people are buying 87 00:04:32,480 --> 00:04:35,480 Speaker 5: their heart So, given we've got house prices going up, 88 00:04:35,600 --> 00:04:39,000 Speaker 5: people owning their own home delighted. People buying their own home, well, 89 00:04:39,040 --> 00:04:42,400 Speaker 5: they're probably pretty happy. To people renting not so happy. 90 00:04:42,640 --> 00:04:45,520 Speaker 5: That puts pressure on rents. They might want to buy tough. 91 00:04:47,000 --> 00:04:49,880 Speaker 5: Point of this is everyone that lives in a house 92 00:04:49,960 --> 00:04:53,600 Speaker 5: is affected by this story, Adam, and apart from maybe 93 00:04:53,640 --> 00:04:57,839 Speaker 5: a dozen people that we know, that's everyone, Michael. 94 00:04:59,080 --> 00:05:00,800 Speaker 1: That is one of my favorite rules. 95 00:05:00,920 --> 00:05:01,440 Speaker 2: That rule. 96 00:05:05,680 --> 00:05:11,000 Speaker 1: Yeah, I live by that. My biggest story this week, 97 00:05:12,480 --> 00:05:18,160 Speaker 1: Sean and Adam, is all about Trump, right, God's sake, 98 00:05:18,320 --> 00:05:22,000 Speaker 1: come on, Well, okay, I wouldn't normally do this for 99 00:05:22,040 --> 00:05:24,720 Speaker 1: the bigger story of the week, but it has been 100 00:05:24,920 --> 00:05:28,800 Speaker 1: a heck of a week for the US President. He 101 00:05:28,920 --> 00:05:34,159 Speaker 1: has ricocheted from berating his generals to floating a Middle 102 00:05:34,200 --> 00:05:38,200 Speaker 1: East peace plan to triggering more global trade tensions with 103 00:05:38,360 --> 00:05:44,840 Speaker 1: more tariffs. It's it's actually staggering. It is so big. 104 00:05:45,560 --> 00:05:47,640 Speaker 5: I mean, what you really got to ask you, Adam, 105 00:05:47,720 --> 00:05:50,480 Speaker 5: right up front, is what's so different about this week 106 00:05:50,480 --> 00:05:52,400 Speaker 5: compared to last week and the week before and the 107 00:05:52,440 --> 00:05:53,080 Speaker 5: week before that. 108 00:05:54,279 --> 00:05:59,239 Speaker 1: It's because this week is bigger, Right, this week? This week, okay, 109 00:05:59,360 --> 00:06:02,760 Speaker 1: very quickly, only through it, very very quickly. He unveiled 110 00:06:02,760 --> 00:06:06,680 Speaker 1: a twenty one point plan to end the war in Gaza, boasting, 111 00:06:06,800 --> 00:06:09,560 Speaker 1: and he said, we have a real chance for greatness 112 00:06:09,800 --> 00:06:12,000 Speaker 1: in the Middle East. The plan would eventually see a 113 00:06:12,080 --> 00:06:16,119 Speaker 1: Board of Peace headed up by well Trump himself also 114 00:06:16,200 --> 00:06:20,520 Speaker 1: overseen by former UK Prime Minister Tony Blair. So that's Gaza. 115 00:06:20,640 --> 00:06:24,039 Speaker 1: Then economic chaos one hundred percent tariffs being slapped on 116 00:06:24,120 --> 00:06:28,839 Speaker 1: drug imports, hammering companies like CSL side effects Australian companies. Well, 117 00:06:28,880 --> 00:06:32,120 Speaker 1: it doesn't really necessarily affect these Australian companies, but the 118 00:06:32,240 --> 00:06:36,600 Speaker 1: uncertainty because if you've got any kind of processing manufacturing 119 00:06:36,600 --> 00:06:39,640 Speaker 1: capacity in the US then you are technically exempt. But hey, 120 00:06:39,839 --> 00:06:42,760 Speaker 1: it is that confusing. Hollywood was hit to by a 121 00:06:42,800 --> 00:06:46,320 Speaker 1: separate wave of tariffs foreign films, including movies made here 122 00:06:46,640 --> 00:06:50,440 Speaker 1: in Australia, because Adam, we are in fact foreign to 123 00:06:50,560 --> 00:06:52,600 Speaker 1: the United States, probably didn't need to point that out. 124 00:06:52,839 --> 00:06:55,240 Speaker 1: They are being targeted as well. On top of that, 125 00:06:55,240 --> 00:06:58,000 Speaker 1: then we've got the US government shutdown, which is Trump's 126 00:06:58,080 --> 00:07:01,839 Speaker 1: third hundreds of thousands of workers stood down. Talk of 127 00:07:01,880 --> 00:07:06,679 Speaker 1: Trump using this for retribution, shutting down department, permanently, sacking 128 00:07:06,720 --> 00:07:12,040 Speaker 1: Democrats and causing as he called it, irreversible change. Then 129 00:07:12,600 --> 00:07:16,280 Speaker 1: then then if that wasn't enough, he and Defense Secretary 130 00:07:16,320 --> 00:07:20,720 Speaker 1: Pete Hegsath stood up in front of every general in the. 131 00:07:20,000 --> 00:07:22,040 Speaker 2: This is the highlight. This has to be the highlight. 132 00:07:22,600 --> 00:07:25,760 Speaker 1: Stood up in front of every general in the United 133 00:07:26,160 --> 00:07:31,320 Speaker 1: States military, and attacked woke culture, attacked soldiers with beards, 134 00:07:31,800 --> 00:07:36,920 Speaker 1: attacked fat generals in the Pentagon, and more, tell them how. 135 00:07:36,720 --> 00:07:39,520 Speaker 2: Hopeless they've been in the last fifty years since World 136 00:07:39,520 --> 00:07:40,240 Speaker 2: War Two. 137 00:07:40,360 --> 00:07:42,520 Speaker 1: And about how this is going to change now, and 138 00:07:42,680 --> 00:07:47,240 Speaker 1: just the looks on their faces. Just if looks could 139 00:07:47,320 --> 00:07:51,360 Speaker 1: kill goodness. Maybe there was just stony faces everywhere. Then 140 00:07:51,560 --> 00:07:55,480 Speaker 1: to finish the week, the President declared war on drug cartels. 141 00:07:56,320 --> 00:07:59,720 Speaker 1: Every week with the US president is a big week, 142 00:07:59,800 --> 00:08:03,960 Speaker 1: but this week was more pure Trump than I think 143 00:08:03,960 --> 00:08:07,800 Speaker 1: we've ever seen. We had part showman, part chaos agent, 144 00:08:08,160 --> 00:08:13,200 Speaker 1: part deal maker, just completely extraordinary and combined to make 145 00:08:13,440 --> 00:08:18,080 Speaker 1: the biggest story of the week, which is one complete 146 00:08:18,360 --> 00:08:21,520 Speaker 1: story and not at all an omnibus story. 147 00:08:25,120 --> 00:08:29,800 Speaker 4: So I'm going to go with the vibe on this one. 148 00:08:29,920 --> 00:08:36,400 Speaker 3: So my vibe was this Trump. Eh. And then house prices, 149 00:08:36,480 --> 00:08:37,520 Speaker 3: Oh my god, not again. 150 00:08:37,600 --> 00:08:40,559 Speaker 4: So Sean wins, and it takes me back to sort 151 00:08:40,600 --> 00:08:43,720 Speaker 4: of twenty five years ago, right when Lara and I 152 00:08:43,800 --> 00:08:46,880 Speaker 4: were saving for our first house and we couldn't keep 153 00:08:46,960 --> 00:08:50,080 Speaker 4: up with the market. Our little twenty percent deposit couldn't 154 00:08:50,120 --> 00:08:50,920 Speaker 4: keep up with the market. 155 00:08:50,920 --> 00:08:51,640 Speaker 3: It was going so. 156 00:08:51,720 --> 00:08:54,760 Speaker 4: Fast, and I think that is what another generation of 157 00:08:54,760 --> 00:08:56,240 Speaker 4: home buyers are looking at now. 158 00:08:56,280 --> 00:08:58,000 Speaker 3: It's so so difficult. 159 00:08:59,280 --> 00:09:01,320 Speaker 4: So I think that is actually more material to the 160 00:09:01,320 --> 00:09:05,080 Speaker 4: economy of Australia than, unbelievably almost all of the Trump 161 00:09:05,120 --> 00:09:09,079 Speaker 4: events of the week, which were incredible. I just wonder 162 00:09:09,120 --> 00:09:15,000 Speaker 4: whether Trump would have passed his own military standards. You know, 163 00:09:15,080 --> 00:09:17,719 Speaker 4: when you look at him, excellent question, you know, if 164 00:09:17,720 --> 00:09:19,160 Speaker 4: he was to look in the world. 165 00:09:19,200 --> 00:09:24,160 Speaker 5: Adams as Adam Adam Adam takes cast your mind back 166 00:09:24,200 --> 00:09:29,040 Speaker 5: a couple of months ago when the president's physician wrote 167 00:09:29,920 --> 00:09:33,600 Speaker 5: that not only was Donald Trump in excellent health, he 168 00:09:33,720 --> 00:09:37,840 Speaker 5: was also playing golf. And not only was he playing golf, 169 00:09:38,160 --> 00:09:40,120 Speaker 5: he was winning the golf tournaments. 170 00:09:40,679 --> 00:09:41,880 Speaker 2: That's how healthy he. 171 00:09:41,760 --> 00:09:45,400 Speaker 4: Was worth noting for a doctor. And JD. 172 00:09:45,640 --> 00:09:50,480 Speaker 1: Vance has a beard Vice President, which I just find 173 00:09:50,520 --> 00:09:54,240 Speaker 1: the most staggering hypocrisy, right, asking the generals to be 174 00:09:54,280 --> 00:09:57,400 Speaker 1: clean shaven, and that the vice president, who would be 175 00:09:57,840 --> 00:10:00,920 Speaker 1: the commander in chief if anything happened to Donald Trump, 176 00:10:02,160 --> 00:10:04,280 Speaker 1: is a bearded fellow. I don't know that. 177 00:10:06,640 --> 00:10:08,959 Speaker 3: All those generals goll it. 178 00:10:11,160 --> 00:10:12,120 Speaker 2: Shall we move on? 179 00:10:12,840 --> 00:10:15,199 Speaker 1: I think we must. The judging. 180 00:10:17,360 --> 00:10:20,880 Speaker 2: Neil Michael, the remarkable story. 181 00:10:21,040 --> 00:10:25,120 Speaker 1: No sucking up, no sucking up. And I don't know. 182 00:10:25,320 --> 00:10:28,080 Speaker 1: I don't know what your backgrounds are. I don't know 183 00:10:28,240 --> 00:10:29,839 Speaker 1: either of the two of you. I don't know what 184 00:10:29,880 --> 00:10:32,240 Speaker 1: your work background is or what you're interested in. But 185 00:10:32,280 --> 00:10:34,720 Speaker 1: what the heck is going on in Australian media? Huh? 186 00:10:34,720 --> 00:10:40,080 Speaker 1: How about this one? I'm not playing for subjective bias here. 187 00:10:40,360 --> 00:10:44,440 Speaker 1: This has been a week of huge moves, right seven 188 00:10:44,520 --> 00:10:49,160 Speaker 1: West Media merging or planning to merge with Southern Cross Media, 189 00:10:49,200 --> 00:10:56,040 Speaker 1: creating a new TV and radio powerhouse, combining combining the 190 00:10:56,080 --> 00:10:59,640 Speaker 1: Seven Network and newspapers like The West Australian with radio 191 00:10:59,679 --> 00:11:02,240 Speaker 1: network ex Triple amb and the Hit Network. It is 192 00:11:02,280 --> 00:11:07,280 Speaker 1: going to be a media giant, like a kind of giant. 193 00:11:07,400 --> 00:11:10,360 Speaker 1: It's still worth only a kind of giant. It's a 194 00:11:10,440 --> 00:11:14,559 Speaker 1: relatively average height giant. Still worth only four hundred and 195 00:11:14,600 --> 00:11:18,520 Speaker 1: fifteen million dollars, which is extraordinary when you think about it. Right, 196 00:11:18,559 --> 00:11:23,840 Speaker 1: the Seven West Media alone was worth three billion dollars 197 00:11:23,880 --> 00:11:26,960 Speaker 1: when it went public in twenty eleven. Now the value 198 00:11:26,960 --> 00:11:30,320 Speaker 1: of this merged company would be four hundred and fifteen 199 00:11:30,320 --> 00:11:32,680 Speaker 1: million dollars. And it says a lot about the fate 200 00:11:32,880 --> 00:11:36,480 Speaker 1: of the free toware TV networks across that time, which 201 00:11:36,520 --> 00:11:38,559 Speaker 1: is just extraor that is remarkable at the time, and 202 00:11:38,600 --> 00:11:48,120 Speaker 1: if it's Michael at the same time, at the same 203 00:11:48,200 --> 00:11:52,040 Speaker 1: time this week, because that wasn't enough big media moves 204 00:11:52,080 --> 00:11:55,480 Speaker 1: in one week, we've got arn Media, owner of Kiss 205 00:11:55,559 --> 00:11:58,880 Speaker 1: and Pure Gold, announcing the end of an era, with 206 00:11:59,080 --> 00:12:03,760 Speaker 1: veteran c Kieran Davis stepping down after sixteen years. He 207 00:12:03,840 --> 00:12:08,920 Speaker 1: oversaw the tremendous success that was Kyle and Jackie O 208 00:12:09,120 --> 00:12:13,040 Speaker 1: coming across from Today FM to Kiss more than a 209 00:12:13,080 --> 00:12:16,559 Speaker 1: decade ago, but also then the unsuccessful push into Melbourne 210 00:12:16,559 --> 00:12:18,679 Speaker 1: for that same show after signing a new two hundred 211 00:12:18,720 --> 00:12:21,920 Speaker 1: million dollar contract with the duo. It has been an 212 00:12:21,920 --> 00:12:25,840 Speaker 1: epic week, an unforgettable week, a week that will forever 213 00:12:26,160 --> 00:12:32,200 Speaker 1: change the Australian media landscape, unable to be overstated here. 214 00:12:32,559 --> 00:12:34,280 Speaker 1: And then at the same time we've got nine looking 215 00:12:34,280 --> 00:12:36,920 Speaker 1: to offload it's radio stations like two GB and three AW. 216 00:12:37,200 --> 00:12:40,000 Speaker 1: More changes to come, but this week will be a 217 00:12:40,080 --> 00:12:44,640 Speaker 1: week forever marked in the Australian media calendar. We will 218 00:12:44,679 --> 00:12:46,800 Speaker 1: be talking about this for decades. 219 00:12:47,600 --> 00:12:49,200 Speaker 2: Have you used the word remarkable yet? 220 00:12:49,480 --> 00:12:55,920 Speaker 1: It is remarkable? I know, so do we agree. 221 00:12:55,960 --> 00:12:58,080 Speaker 2: I don't even think you'll try. Like I'm just reckon. 222 00:12:58,200 --> 00:13:00,439 Speaker 2: I don't know what to do. I'm going subjective, off 223 00:13:00,480 --> 00:13:02,080 Speaker 2: we go. You know what. 224 00:13:02,600 --> 00:13:04,360 Speaker 1: I don't know what to do anymore. So for me, 225 00:13:04,440 --> 00:13:06,720 Speaker 1: it's just all about subjective bias with a little bit 226 00:13:06,760 --> 00:13:08,480 Speaker 1: of melodrama and the rest of it. Can go and 227 00:13:08,480 --> 00:13:09,479 Speaker 1: get stuffed. 228 00:13:09,200 --> 00:13:13,160 Speaker 5: But go and get stuffed. There was a remarkable story, 229 00:13:13,160 --> 00:13:15,080 Speaker 5: though it came late in the week, the Michael. 230 00:13:16,800 --> 00:13:19,120 Speaker 1: I know, I just did it. What else? 231 00:13:20,760 --> 00:13:25,640 Speaker 5: Just how little overseas companies paying tax and how much 232 00:13:26,000 --> 00:13:28,959 Speaker 5: the ossie companies pay. Now we've got the list of 233 00:13:28,960 --> 00:13:32,880 Speaker 5: the top tax paying corporates. The winner the three big 234 00:13:32,920 --> 00:13:36,240 Speaker 5: miners Rio six point six billion dollars than the twenty 235 00:13:36,280 --> 00:13:39,839 Speaker 5: twenty four financial year, bach Boy six billion dollars, four 236 00:13:39,920 --> 00:13:44,480 Speaker 5: SCU Medals four billion dollars. The big four banks led 237 00:13:44,520 --> 00:13:50,840 Speaker 5: by Comwealth Bank ten billion dollars combined. Excellent. Some companies optists. 238 00:13:50,920 --> 00:13:57,920 Speaker 5: Virgin Australia says l zero zipo nothing personal favorite, of course, 239 00:13:58,960 --> 00:14:05,440 Speaker 5: Australian insurance owner of NRMA paid nine dollars tax. You 240 00:14:05,480 --> 00:14:10,160 Speaker 5: didn't miss here that nine dollars. AMP TPG Transurban Dominos 241 00:14:10,200 --> 00:14:14,120 Speaker 5: paid zero. Now it's okay to pay zero tax because 242 00:14:14,160 --> 00:14:15,840 Speaker 5: you may have a lot of you may not be 243 00:14:15,880 --> 00:14:18,240 Speaker 5: making any money. If you're not making any money, therefore 244 00:14:17,880 --> 00:14:20,360 Speaker 5: you lose money and therefore you don't have to pay 245 00:14:20,360 --> 00:14:23,640 Speaker 5: tax on it. You may carry forward tax losses as well. 246 00:14:23,880 --> 00:14:26,800 Speaker 5: But what's really what's really remarkable is that more than 247 00:14:26,800 --> 00:14:31,200 Speaker 5: half the corporate tax take is mining and energy companies. 248 00:14:31,360 --> 00:14:34,960 Speaker 5: What's even more remarkable still to this day, is how 249 00:14:35,040 --> 00:14:38,840 Speaker 5: little the big global tech players, the US global tech players, 250 00:14:38,880 --> 00:14:43,840 Speaker 5: primarily how much they don't pay tax. Microsoft, Google, Facebook, 251 00:14:43,880 --> 00:14:47,840 Speaker 5: Apple and Amazon combined six hundred and fifty million dollars 252 00:14:47,880 --> 00:14:51,960 Speaker 5: in tax for their Australian operations. Their revenue, I'm guessing 253 00:14:52,040 --> 00:14:54,520 Speaker 5: I don't know it, their revenue would been the tens 254 00:14:54,560 --> 00:14:57,880 Speaker 5: of billions of dollars six hundred and fifty million in tax. 255 00:14:58,560 --> 00:15:04,840 Speaker 5: Netflix no tax on one point two billion dollars. Tesla 256 00:15:04,920 --> 00:15:07,040 Speaker 5: paid twenty seven million dollars in tax. I mean you 257 00:15:07,120 --> 00:15:09,320 Speaker 5: almost have to say we'll get on your Tesla because 258 00:15:09,560 --> 00:15:11,160 Speaker 5: that's actually kind. 259 00:15:10,920 --> 00:15:12,480 Speaker 3: Of relatively generous. 260 00:15:12,680 --> 00:15:16,360 Speaker 5: Yeah, but it's it's outrageous. Now the ATI knows none 261 00:15:16,400 --> 00:15:18,200 Speaker 5: of this passes the pub test because it actually put 262 00:15:18,200 --> 00:15:20,360 Speaker 5: a statement outset it continues to pay close attention to 263 00:15:20,400 --> 00:15:22,960 Speaker 5: these taxpayers to ensure they are paying the right amount 264 00:15:22,960 --> 00:15:26,320 Speaker 5: of tax and that losses are not created through contrived schemes. 265 00:15:29,320 --> 00:15:31,040 Speaker 2: Really, these big. 266 00:15:30,840 --> 00:15:33,160 Speaker 5: Text giants are making so much money out of Australia 267 00:15:33,160 --> 00:15:36,160 Speaker 5: and that's all the tax they're paying, while BHP and 268 00:15:36,320 --> 00:15:38,440 Speaker 5: RE are paying six billion dollars plus four to skew 269 00:15:39,040 --> 00:15:41,560 Speaker 5: you know, six billion dollars, sorry, four billion dollars the 270 00:15:41,600 --> 00:15:45,600 Speaker 5: big banks combined ten billion dollars. It ain't fair, Adam, 271 00:15:46,000 --> 00:15:50,400 Speaker 5: it ain't fair, and it is truly remarkable over a year. 272 00:15:51,720 --> 00:15:58,560 Speaker 4: Yes, subjective bias on both of these stories tax good point, 273 00:15:59,120 --> 00:15:59,760 Speaker 4: it's a bit of it. 274 00:16:00,360 --> 00:16:04,200 Speaker 3: In my head. Sean has to win. 275 00:16:07,720 --> 00:16:11,840 Speaker 5: Michael's face, he knew he had no chance. But then you, 276 00:16:12,120 --> 00:16:14,520 Speaker 5: when you started with subjective bias, you just saw his 277 00:16:14,640 --> 00:16:17,240 Speaker 5: eyes lift slightly, no flicker of hope. 278 00:16:17,600 --> 00:16:20,720 Speaker 3: No, what did you call me a flicker? Okay? 279 00:16:22,440 --> 00:16:26,480 Speaker 1: No, See, the thing was what I have identified here. 280 00:16:26,760 --> 00:16:29,800 Speaker 1: There is subjective bias, and it's biased against me. 281 00:16:30,520 --> 00:16:30,680 Speaker 5: Right. 282 00:16:31,280 --> 00:16:34,800 Speaker 1: It is the fact that now there are two categories 283 00:16:34,960 --> 00:16:36,800 Speaker 1: that I should have won, and I have one neither. 284 00:16:36,880 --> 00:16:38,560 Speaker 1: So therefore I can assume there's something to do with 285 00:16:38,600 --> 00:16:41,360 Speaker 1: the stories, but more to do with the person making 286 00:16:41,680 --> 00:16:43,400 Speaker 1: the argument anyway, just. 287 00:16:43,720 --> 00:16:46,600 Speaker 4: So the audience knows, you know, when I make it 288 00:16:46,680 --> 00:16:50,360 Speaker 4: such that Michael loses, that's not me provoking more melodrama. 289 00:16:50,400 --> 00:16:52,320 Speaker 4: That's him legitimately reacting. 290 00:16:52,520 --> 00:16:53,040 Speaker 2: Coming up. 291 00:16:53,520 --> 00:16:56,440 Speaker 5: And Michael has gotten more and more competitive over the years. 292 00:16:56,840 --> 00:16:59,000 Speaker 5: Now the last coupent, well, I reckon, He's probably won 293 00:16:59,120 --> 00:17:01,680 Speaker 5: two out of the last three weeks since I've been back, 294 00:17:02,120 --> 00:17:03,720 Speaker 5: maybe three, the last. 295 00:17:03,720 --> 00:17:04,760 Speaker 3: Couple of wins. 296 00:17:04,960 --> 00:17:07,719 Speaker 2: And so yeah, so he gets quite feisty when he loses. 297 00:17:07,760 --> 00:17:12,879 Speaker 1: Now only when I feel like only when I feel 298 00:17:12,960 --> 00:17:16,840 Speaker 1: like justice has not been done right, because I'm here, 299 00:17:17,040 --> 00:17:18,600 Speaker 1: I'm not I'm not doing this for me. I'm not 300 00:17:18,640 --> 00:17:23,160 Speaker 1: representing me. I'm representing the people, which we've established. 301 00:17:22,680 --> 00:17:24,720 Speaker 2: Before, like a breaken record, isn't. 302 00:17:24,480 --> 00:17:26,439 Speaker 1: The man of the people, right, And so when you 303 00:17:26,560 --> 00:17:30,480 Speaker 1: rule against me, you're really against Australia. You're ruling against 304 00:17:30,640 --> 00:17:35,879 Speaker 1: common sense and decency. And Trump is your main story 305 00:17:36,200 --> 00:17:39,600 Speaker 1: of the people, well, because is he not the man 306 00:17:39,640 --> 00:17:41,240 Speaker 1: of many American people? 307 00:17:41,600 --> 00:17:42,160 Speaker 5: Right? Yes? 308 00:17:42,240 --> 00:17:46,760 Speaker 1: And did not get elected in a landslide anyway, Adam, 309 00:17:46,840 --> 00:17:50,600 Speaker 1: take it away, continue your bias. We can take it 310 00:17:50,760 --> 00:17:52,359 Speaker 1: the people and I are strong. 311 00:17:53,240 --> 00:17:56,040 Speaker 4: Good, So we're going to go into mystery category. 312 00:17:56,520 --> 00:17:57,240 Speaker 1: Sorry you finished. 313 00:18:00,080 --> 00:18:02,200 Speaker 4: Look, I don't know that I could say much more 314 00:18:03,080 --> 00:18:04,000 Speaker 4: that will be helpful. 315 00:18:04,600 --> 00:18:06,879 Speaker 1: No, that's fine, we'll take it. We'll take a break. Sorry, 316 00:18:07,000 --> 00:18:08,919 Speaker 1: I got caught up and forgot what we're up to. 317 00:18:09,240 --> 00:18:18,960 Speaker 1: We'll take a quick break back in a moment, Sean. 318 00:18:19,119 --> 00:18:22,160 Speaker 1: We are now moving on to our mystery category, which 319 00:18:22,240 --> 00:18:26,359 Speaker 1: changes every week. And Adam, you might have noticed that 320 00:18:26,480 --> 00:18:28,840 Speaker 1: when we did the Biggest Story of the week, when 321 00:18:28,880 --> 00:18:34,399 Speaker 1: he made a flawed judgment, that you were essentially deciding 322 00:18:34,440 --> 00:18:37,639 Speaker 1: between two stories that would perhaps not normally be in 323 00:18:37,680 --> 00:18:39,320 Speaker 1: the Biggest Story category. 324 00:18:38,880 --> 00:18:41,520 Speaker 5: That there was something mine mine would have, Mine would 325 00:18:41,560 --> 00:18:42,919 Speaker 5: have yours probably wouldn't have. 326 00:18:46,720 --> 00:18:51,200 Speaker 1: Just b s Oh, it feels like we're back now, right, 327 00:18:51,760 --> 00:18:53,960 Speaker 1: it feels like we're back where I'm now in my 328 00:18:54,440 --> 00:18:57,040 Speaker 1: old familiar terrain of being picked on by the two 329 00:18:57,080 --> 00:19:01,480 Speaker 1: of you. The category this week is the biggest story 330 00:19:01,720 --> 00:19:08,480 Speaker 1: about the economy, All right, okay, Adam, where we all know? 331 00:19:08,640 --> 00:19:11,440 Speaker 1: And I'm going to go first on this one, Sean, 332 00:19:11,480 --> 00:19:14,440 Speaker 1: if that's okay. 333 00:19:13,760 --> 00:19:14,399 Speaker 2: Yeah, sure? 334 00:19:14,640 --> 00:19:18,600 Speaker 5: Whatever is that they haven't made enough of the category, 335 00:19:19,000 --> 00:19:21,680 Speaker 5: Like that's what I'm disappointed in the category is right, 336 00:19:22,080 --> 00:19:24,760 Speaker 5: the economy. We had so much in the economy this week, 337 00:19:24,920 --> 00:19:27,600 Speaker 5: so the category is the economy and the bit that 338 00:19:27,600 --> 00:19:28,320 Speaker 5: we reckon. 339 00:19:28,040 --> 00:19:29,040 Speaker 2: Adam will like most. 340 00:19:30,119 --> 00:19:33,520 Speaker 1: So okay, well thank you for adding some some color. 341 00:19:33,840 --> 00:19:42,280 Speaker 5: Yeahs you like most. Just the spark's gone out of 342 00:19:42,359 --> 00:19:44,480 Speaker 5: Bcael this morning about it. 343 00:19:45,040 --> 00:19:45,440 Speaker 3: Spark. 344 00:19:45,720 --> 00:19:48,280 Speaker 2: The spark is five and look at him, he's a mess. 345 00:19:49,720 --> 00:19:52,879 Speaker 4: A spark and retribution all eyes. 346 00:19:52,960 --> 00:19:57,440 Speaker 1: This week, Adam, we're on one place, just one building 347 00:19:58,040 --> 00:19:59,280 Speaker 1: in Martin Place. 348 00:20:00,000 --> 00:20:03,840 Speaker 2: Where there lived out Just for the record, place became. 349 00:20:05,520 --> 00:20:07,359 Speaker 1: Not there anything, and that's best. And it's going to 350 00:20:07,400 --> 00:20:09,159 Speaker 1: cost it one point two billion dollars. 351 00:20:09,840 --> 00:20:12,000 Speaker 2: But let's get finicky about this. 352 00:20:12,280 --> 00:20:14,760 Speaker 1: No, But I mean symbolically it is still a symbolic 353 00:20:14,960 --> 00:20:15,280 Speaker 1: It is. 354 00:20:15,240 --> 00:20:17,160 Speaker 3: The heart rebuild, renovation. 355 00:20:17,359 --> 00:20:20,280 Speaker 1: It is the heart of the economy right just there. 356 00:20:20,720 --> 00:20:22,320 Speaker 5: Do you know what I kind of like about Martin Place? 357 00:20:22,359 --> 00:20:24,760 Speaker 5: People who don't know that area of sitting, so it's 358 00:20:24,800 --> 00:20:28,000 Speaker 5: often where a lot of the homeless food trucks land 359 00:20:28,040 --> 00:20:28,880 Speaker 5: at the end of the day. 360 00:20:29,160 --> 00:20:30,160 Speaker 2: And I kind of think. 361 00:20:30,000 --> 00:20:34,520 Speaker 5: There's sort of some nice symbolism more that know, the 362 00:20:34,560 --> 00:20:37,439 Speaker 5: Reserve Bank, the center of money is there in the 363 00:20:37,800 --> 00:20:42,159 Speaker 5: like the position. Well, it's not looking after people, but 364 00:20:42,240 --> 00:20:45,840 Speaker 5: the homeless trucks do a fantastic job. That food trucks 365 00:20:45,840 --> 00:20:48,320 Speaker 5: do a fantastic jobs for the poor homeless people. But 366 00:20:48,320 --> 00:20:51,240 Speaker 5: it's right outside the bank. Anyway, nothing to do with this, 367 00:20:51,320 --> 00:20:51,919 Speaker 5: go on, Michael. 368 00:20:52,320 --> 00:20:55,200 Speaker 1: Anyway, The Preserve Bank this week did exactly what everybody 369 00:20:55,240 --> 00:20:58,119 Speaker 1: expected it was going to do. It did nothing. It 370 00:20:58,160 --> 00:21:02,760 Speaker 1: did nothing, Adam, It left the official cash rate. 371 00:21:02,880 --> 00:21:04,280 Speaker 3: And this is your story. 372 00:21:04,560 --> 00:21:09,080 Speaker 1: Wait, you are judging too early. As usual, usually you 373 00:21:09,160 --> 00:21:11,520 Speaker 1: just judge as soon as Sean has spoken without waiting 374 00:21:11,560 --> 00:21:13,560 Speaker 1: for me. I beg you this week to wait till 375 00:21:13,600 --> 00:21:17,399 Speaker 1: I've finished actually making my argument three point six percent. 376 00:21:17,680 --> 00:21:22,639 Speaker 1: What was a real eye opener was the commentary that 377 00:21:22,800 --> 00:21:26,639 Speaker 1: accompanied it, Governor Michelle Buller committing she was surprised that 378 00:21:26,720 --> 00:21:29,919 Speaker 1: the board was surprised, the Reserve Bank shocked and appalled 379 00:21:30,400 --> 00:21:34,280 Speaker 1: by just how sticky inflation is proving to be. I 380 00:21:34,359 --> 00:21:38,560 Speaker 1: might be, maybe what does that mean exaggerating it? Especially 381 00:21:38,600 --> 00:21:42,640 Speaker 1: in services. We've got growth and inflation data have been 382 00:21:42,920 --> 00:21:46,440 Speaker 1: hotter than the RBA forecast back in August, and that's 383 00:21:46,440 --> 00:21:52,160 Speaker 1: got everyone nervous, right, that are not coming down as 384 00:21:52,520 --> 00:21:56,160 Speaker 1: much as they expected them to do, and that they 385 00:21:56,160 --> 00:22:00,239 Speaker 1: had forecast that the decrease in inflation has not been 386 00:22:00,280 --> 00:22:03,200 Speaker 1: sustained to the level that they were expecting it to be. 387 00:22:04,560 --> 00:22:07,479 Speaker 1: It has got everybody nervous, made markets a bit twitchy, 388 00:22:07,480 --> 00:22:09,840 Speaker 1: and Sean as you did an admirable job this week 389 00:22:09,880 --> 00:22:13,520 Speaker 1: of explaining the importance of the three year bond rate 390 00:22:13,800 --> 00:22:16,480 Speaker 1: now at three point six percent, which is the same 391 00:22:16,560 --> 00:22:19,399 Speaker 1: as the official cash rate, suggesting that, as you pointed 392 00:22:19,400 --> 00:22:24,280 Speaker 1: out several times, that investors think rates will on average 393 00:22:25,080 --> 00:22:28,120 Speaker 1: hang around current levels for some time. Right, the next 394 00:22:28,160 --> 00:22:31,160 Speaker 1: big test lends on Melbourne Cup Day, which I find 395 00:22:31,280 --> 00:22:33,760 Speaker 1: unusual right that you know how now that they have 396 00:22:34,080 --> 00:22:38,280 Speaker 1: shifted the meetings that now we have eight meetings instead 397 00:22:38,280 --> 00:22:41,760 Speaker 1: of essentially one every month on the first Tuesday of 398 00:22:41,760 --> 00:22:44,600 Speaker 1: the month, that they still have one on Melbourne Cup Day, 399 00:22:44,640 --> 00:22:47,000 Speaker 1: which is probably the one where people are not yet 400 00:22:47,119 --> 00:22:49,160 Speaker 1: that if you're going to move any one, you would 401 00:22:49,160 --> 00:22:50,760 Speaker 1: move that one because that's the one where no one's 402 00:22:50,760 --> 00:22:54,439 Speaker 1: paying attention to what the Reserve Bank does. They're going 403 00:22:54,480 --> 00:22:57,560 Speaker 1: to have September quarter inflation data in hand for that one, 404 00:22:57,600 --> 00:22:59,320 Speaker 1: so that is going to be pivotal. But as far 405 00:22:59,400 --> 00:23:02,119 Speaker 1: as the econ we went this week. There was only 406 00:23:02,200 --> 00:23:07,040 Speaker 1: one story in Australia that is worth considering here, and 407 00:23:07,080 --> 00:23:09,639 Speaker 1: it was the RBA, and it was the decision that 408 00:23:09,680 --> 00:23:11,959 Speaker 1: they made to leave rats on hold. But the important, 409 00:23:12,000 --> 00:23:16,080 Speaker 1: the vital, the enormously significant commentary that went with it. 410 00:23:16,280 --> 00:23:21,480 Speaker 1: Nothing else matters, Sean, what else did you like? 411 00:23:22,080 --> 00:23:26,120 Speaker 5: So they did nothing? I think you just said I did. 412 00:23:26,320 --> 00:23:28,399 Speaker 1: I did, yes, yes, yeah. 413 00:23:28,240 --> 00:23:31,040 Speaker 5: Now, I mean they've done it a few times in 414 00:23:31,080 --> 00:23:33,040 Speaker 5: recent months. I've got to say what they did do 415 00:23:33,160 --> 00:23:37,480 Speaker 5: this week though, which was part of her commentary, but 416 00:23:37,520 --> 00:23:40,840 Speaker 5: also this semi annual Financial Stability Report which came out 417 00:23:40,840 --> 00:23:43,360 Speaker 5: at the end of the week. They basically told us 418 00:23:43,720 --> 00:23:46,960 Speaker 5: that the cost of living crisis, the crisis part of 419 00:23:46,960 --> 00:23:52,880 Speaker 5: it was over. Pressures are easy and haven't we been 420 00:23:52,920 --> 00:23:56,920 Speaker 5: waiting for a long time for that? When Michelle Bullock 421 00:23:56,960 --> 00:24:00,000 Speaker 5: spoke after the interest right decision on Tuesday, when nothing happened, 422 00:24:00,480 --> 00:24:04,879 Speaker 5: and then she made it clear that inflation is lower, 423 00:24:05,359 --> 00:24:08,040 Speaker 5: there are interest rate cuts, the government Stage three tax 424 00:24:08,080 --> 00:24:11,639 Speaker 5: cuts are doing the trick. The number of inquiries to 425 00:24:11,720 --> 00:24:15,840 Speaker 5: the National Debt helpline stabilized over the past year. The 426 00:24:15,880 --> 00:24:18,160 Speaker 5: Central Bank and this is in the Stability report said 427 00:24:18,160 --> 00:24:20,640 Speaker 5: the number of mortgage holders in arrears, as in people 428 00:24:20,680 --> 00:24:23,000 Speaker 5: who are more than ninety days behind paying their home loans, 429 00:24:23,400 --> 00:24:27,560 Speaker 5: peaked twelve months ago and has been declining ever since. 430 00:24:27,560 --> 00:24:30,840 Speaker 5: It's now back to pre pandemic levels. The bottom quarter 431 00:24:30,880 --> 00:24:35,119 Speaker 5: of income earners with a mortgage have enough savings to 432 00:24:35,160 --> 00:24:38,679 Speaker 5: afford ten months repayments. The top quarter, so that Michael 433 00:24:39,320 --> 00:24:43,639 Speaker 5: bottom quarter ten months repayments, Adam top quarter, twenty months repayments. 434 00:24:44,640 --> 00:24:52,280 Speaker 5: The cost of living crisis, my friends, is disspeating. Doesn't 435 00:24:52,280 --> 00:24:54,520 Speaker 5: that word ruin it? It's about that, I mean, I 436 00:24:54,720 --> 00:24:57,480 Speaker 5: think it's kind of really marked a point in time 437 00:24:57,680 --> 00:25:01,479 Speaker 5: that we have had so much, such a challenge in 438 00:25:01,520 --> 00:25:05,439 Speaker 5: Australia making ends meet, and it's still tough, but we're 439 00:25:05,480 --> 00:25:09,480 Speaker 5: getting rate cuts, we're getting tax cuts, Inflation is lower, 440 00:25:09,800 --> 00:25:13,359 Speaker 5: and the Reserve Bank called it this week a damn. 441 00:25:13,080 --> 00:25:14,080 Speaker 2: Skew over to you. 442 00:25:14,960 --> 00:25:21,919 Speaker 4: God, this is hard so close Adam, what well both RBA, 443 00:25:23,600 --> 00:25:28,280 Speaker 4: you know, both really the same set of people talking 444 00:25:28,280 --> 00:25:33,040 Speaker 4: about information in the same week where technically nothing happened 445 00:25:33,080 --> 00:25:36,320 Speaker 4: on interest rates, but so much handringing and anguish in 446 00:25:36,400 --> 00:25:37,720 Speaker 4: the data. 447 00:25:39,800 --> 00:25:42,639 Speaker 5: Oh, this is unfair on Adam, you know, because you 448 00:25:43,040 --> 00:25:47,000 Speaker 5: see his mind just exploding with sort of excitement about 449 00:25:47,040 --> 00:25:50,000 Speaker 5: two economic stories in one go, and it's like, oh, 450 00:25:50,080 --> 00:25:51,480 Speaker 5: how do I separate them? 451 00:25:52,080 --> 00:25:56,320 Speaker 4: And all look, all the data show national debt helpline 452 00:25:56,400 --> 00:25:57,320 Speaker 4: calls going down. 453 00:25:57,600 --> 00:25:59,720 Speaker 3: That is wonderful to hear. 454 00:26:00,040 --> 00:26:01,440 Speaker 2: Yeah, it's really good, people. 455 00:26:01,119 --> 00:26:04,280 Speaker 4: In lonerrears going down, having a bit more. 456 00:26:04,240 --> 00:26:06,080 Speaker 2: Judging people judging people. 457 00:26:07,200 --> 00:26:11,040 Speaker 4: Okay, but Sean, I have to give it to Michael 458 00:26:11,160 --> 00:26:13,560 Speaker 4: because the three year bond rate and. 459 00:26:15,520 --> 00:26:18,480 Speaker 3: Three point six So I like to think I do. 460 00:26:19,240 --> 00:26:21,320 Speaker 2: He doesn't. You might, but he doesn't. 461 00:26:22,720 --> 00:26:23,679 Speaker 3: I absolutely do. 462 00:26:25,800 --> 00:26:28,439 Speaker 1: Learned about it in some detail this week, and I 463 00:26:28,720 --> 00:26:31,520 Speaker 1: continue to now tell people randomly on the street about 464 00:26:33,280 --> 00:26:37,679 Speaker 1: I have not made many new friends this week and 465 00:26:37,760 --> 00:26:39,760 Speaker 1: the kids are really sick and tired of the bond 466 00:26:39,840 --> 00:26:41,119 Speaker 1: rat What. 467 00:26:43,640 --> 00:26:46,879 Speaker 4: So Michael wins? 468 00:26:46,880 --> 00:26:48,920 Speaker 5: So good call? Can I just put it this way 469 00:26:49,240 --> 00:26:52,640 Speaker 5: that the first category, there's no way in the world 470 00:26:52,640 --> 00:26:55,920 Speaker 5: I should have won that, and I did that. Last category, 471 00:26:55,920 --> 00:26:57,480 Speaker 5: there's no way the world Michael should have won that, 472 00:26:57,520 --> 00:27:00,760 Speaker 5: and he did so about even at the moment. 473 00:27:00,880 --> 00:27:02,280 Speaker 2: Yeah, judges. 474 00:27:03,920 --> 00:27:06,400 Speaker 1: Of judging remains appalling. 475 00:27:07,320 --> 00:27:08,240 Speaker 2: V wades in that one. 476 00:27:09,359 --> 00:27:13,480 Speaker 1: Let's which for contexts, right, because you have new listeners 477 00:27:13,480 --> 00:27:18,240 Speaker 1: now who aren't aware of this what years ago now. 478 00:27:17,880 --> 00:27:20,440 Speaker 2: More than that, Yeah, I'm still holding onto it. 479 00:27:20,960 --> 00:27:28,040 Speaker 1: When when Roe v. Wade was decision was leaked, Yeah, 480 00:27:28,119 --> 00:27:31,040 Speaker 1: in the US, it was a massive story, and Adam 481 00:27:31,119 --> 00:27:33,399 Speaker 1: you ruled against that as being the biggest story and 482 00:27:33,480 --> 00:27:36,440 Speaker 1: instead went for some story about like puppies or something. 483 00:27:36,800 --> 00:27:38,800 Speaker 3: I got that quite wrong. 484 00:27:38,920 --> 00:27:44,440 Speaker 5: The preponderance of labor doodles in the Sydney he that 485 00:27:44,640 --> 00:27:48,800 Speaker 5: one over v Wade as Maggie labor doodles sat by 486 00:27:48,800 --> 00:27:49,240 Speaker 5: his leak. 487 00:27:50,320 --> 00:27:55,000 Speaker 1: And as a result, now you have been forced to 488 00:27:55,200 --> 00:27:59,399 Speaker 1: endure Sean constantly bringing that up every time there was 489 00:27:59,440 --> 00:28:03,560 Speaker 1: a judgment that to disagree with anyway, favorite story, Yeah, 490 00:28:04,280 --> 00:28:05,200 Speaker 1: you go first. 491 00:28:04,920 --> 00:28:10,440 Speaker 5: On this one, right, my favorite story of the week. 492 00:28:11,000 --> 00:28:15,480 Speaker 5: Bye about I'm trying to find the details here in 493 00:28:15,520 --> 00:28:15,879 Speaker 5: front of me. 494 00:28:16,119 --> 00:28:17,280 Speaker 2: I can't like. 495 00:28:17,600 --> 00:28:22,720 Speaker 5: By about six hundred and twenty five meters is the 496 00:28:22,760 --> 00:28:31,200 Speaker 5: official opening of the world's highest bridge, Aijang Grand Canyon Bridge. 497 00:28:31,880 --> 00:28:34,040 Speaker 5: It basically landers from one mountain to the other. It 498 00:28:34,160 --> 00:28:36,320 Speaker 5: just to take two hours travel time to get from 499 00:28:36,359 --> 00:28:38,160 Speaker 5: one mountain to the other. It now it takes two minutes. 500 00:28:38,160 --> 00:28:40,600 Speaker 5: It's one and a half kilometer bridge made up of 501 00:28:40,680 --> 00:28:44,520 Speaker 5: ninety three segments, weighing twenty two thousand tons, nine times 502 00:28:44,560 --> 00:28:47,040 Speaker 5: higher than the Golden Gray Bridge Bridge in San Francisco, 503 00:28:47,160 --> 00:28:51,080 Speaker 5: twice the height of the Eiffel Tower. The Empire State 504 00:28:51,120 --> 00:28:54,520 Speaker 5: Building would well and truly fit under it. It's a 505 00:28:54,560 --> 00:28:57,640 Speaker 5: suspension bridge, two lanes of car traffic in each direction. 506 00:28:57,800 --> 00:29:01,240 Speaker 5: Also big tourist attraction if they visitors can take a 507 00:29:01,280 --> 00:29:03,960 Speaker 5: high speed glass elevated to a cafe built into the 508 00:29:04,000 --> 00:29:06,800 Speaker 5: top of one of the bridge's towers. Oh my god, 509 00:29:07,000 --> 00:29:07,840 Speaker 5: that would just kill me. 510 00:29:08,360 --> 00:29:10,680 Speaker 2: They reckon. They'll do bungee jumping from it eventually. 511 00:29:11,120 --> 00:29:12,120 Speaker 3: Oh. 512 00:29:12,240 --> 00:29:18,120 Speaker 6: I love the fact that two months ago before they 513 00:29:18,160 --> 00:29:20,360 Speaker 6: opened to the public, a testing team drove ninety six 514 00:29:20,400 --> 00:29:24,760 Speaker 6: trucks onto designated points to test the bridge bridges structural integrity. 515 00:29:25,920 --> 00:29:29,120 Speaker 2: What if that went wrong? Hey? 516 00:29:31,600 --> 00:29:33,160 Speaker 3: Number ninety six on you go? 517 00:29:34,160 --> 00:29:37,960 Speaker 5: So it is It is well worth checking out the videos. 518 00:29:37,960 --> 00:29:40,800 Speaker 5: They're all over the place because it is an incredible structure. 519 00:29:41,160 --> 00:29:44,400 Speaker 5: The now second highest bridge is actually just two hundred 520 00:29:44,440 --> 00:29:47,000 Speaker 5: kilometers up the road in China, and seven of the 521 00:29:47,040 --> 00:29:51,400 Speaker 5: world's biggest bridges. Well, no, these seven biggest bridges in 522 00:29:51,480 --> 00:29:53,800 Speaker 5: the world are in China. Three of them are in 523 00:29:53,840 --> 00:29:56,080 Speaker 5: that region. But those guys know how to build a bridge. 524 00:29:56,200 --> 00:29:58,800 Speaker 5: If you want a suspension bridge, you go to the Chinese, 525 00:29:59,080 --> 00:30:01,560 Speaker 5: no doubt about it. It is just a cracking story, 526 00:30:01,600 --> 00:30:05,000 Speaker 5: amazing feed of engineering that they can do that. The 527 00:30:06,120 --> 00:30:10,160 Speaker 5: video is fantastic for an audio medium like podcasting. 528 00:30:10,640 --> 00:30:11,600 Speaker 2: Hm, no, it's not. 529 00:30:14,400 --> 00:30:16,680 Speaker 1: The speed is the speed at which that was that 530 00:30:16,800 --> 00:30:19,200 Speaker 1: was like if that was if that was done in Australia, 531 00:30:19,240 --> 00:30:23,160 Speaker 1: it would have taken three decades, three years yea. 532 00:30:23,480 --> 00:30:27,320 Speaker 5: And two hundred and eighty million dollars. So the province 533 00:30:27,680 --> 00:30:30,480 Speaker 5: that it covers is the one of the poorest provinces 534 00:30:30,640 --> 00:30:32,760 Speaker 5: in China and it cost them two hundred and eighty 535 00:30:32,760 --> 00:30:35,040 Speaker 5: million dollars to build. So you put that together and 536 00:30:35,080 --> 00:30:38,560 Speaker 5: you think, hmm me thinks they had some very cheap 537 00:30:38,640 --> 00:30:41,800 Speaker 5: labor on that, because I mean you would take it 538 00:30:41,800 --> 00:30:43,600 Speaker 5: to be billions of dollars to do something like that. 539 00:30:44,080 --> 00:30:46,200 Speaker 5: Just two hundred and eighty million dollars in three years, 540 00:30:47,360 --> 00:30:49,240 Speaker 5: that's how they got it, right, Yeah. 541 00:30:49,160 --> 00:30:53,040 Speaker 1: Yeah, yeah, yeah. The video is quite incredible and it 542 00:30:53,120 --> 00:30:56,880 Speaker 1: is terrifying. Now, Adam, my favorite story. One of the 543 00:30:56,920 --> 00:31:01,360 Speaker 1: hottest defense stocks on the entire planet is home grown. 544 00:31:01,720 --> 00:31:08,960 Speaker 1: It is Australian Drone Shield Adam. Drone Shield surged around 545 00:31:09,320 --> 00:31:14,760 Speaker 1: fifty percent in just three days this week. Three days 546 00:31:15,440 --> 00:31:19,960 Speaker 1: fifty percent, right, Remember write that down because that is 547 00:31:20,000 --> 00:31:24,040 Speaker 1: pivotal to this whole story. Governments, particularly in Europe are 548 00:31:24,200 --> 00:31:29,760 Speaker 1: scrambling to counter this flood of cheap, deadly drones that 549 00:31:29,880 --> 00:31:34,800 Speaker 1: have become central to the modern battlefield. Denmark had a 550 00:31:34,880 --> 00:31:39,720 Speaker 1: scare this week with several drone incursions and leading the 551 00:31:39,760 --> 00:31:44,480 Speaker 1: way in defense. Here is Drone Shield, which I would 552 00:31:44,520 --> 00:31:46,400 Speaker 1: say is a friend of Fearing greed because we have 553 00:31:46,480 --> 00:31:50,520 Speaker 1: spoken to the founder and CEO. I'm not saying that we. 554 00:31:50,520 --> 00:31:52,520 Speaker 2: Are anyone speak to as a friend. 555 00:31:53,000 --> 00:31:55,480 Speaker 1: Yeah, that's right, and therefore wee can they claim to 556 00:31:55,520 --> 00:31:58,920 Speaker 1: some of the success as the company Because Drone Shield 557 00:31:59,000 --> 00:32:05,280 Speaker 1: uses senses to detect, identify, and then neutralize droned defense 558 00:32:05,280 --> 00:32:10,479 Speaker 1: spending around the world soaring, so too is drone Shield. 559 00:32:10,520 --> 00:32:15,640 Speaker 1: Its share price is up nearly five hundred percent this 560 00:32:15,880 --> 00:32:20,480 Speaker 1: year alone. I find that incredible and just one little 561 00:32:20,680 --> 00:32:27,840 Speaker 1: homegrown Aussie company. Great story, favorite story, arguably best story 562 00:32:27,880 --> 00:32:29,840 Speaker 1: of the entire week, and if it does not win, 563 00:32:30,440 --> 00:32:32,480 Speaker 1: it is going to be a travesty. 564 00:32:33,280 --> 00:32:38,520 Speaker 4: Adam, He's gone off script with that one, but very 565 00:32:38,560 --> 00:32:42,080 Speaker 4: well done, Michael Sean. During the week, I had a 566 00:32:42,120 --> 00:32:46,520 Speaker 4: lot of feedback about your story about drone shield two 567 00:32:46,600 --> 00:32:50,120 Speaker 4: points where one where you debated, how do you describe 568 00:32:50,120 --> 00:32:51,840 Speaker 4: what drone shield does. 569 00:32:52,240 --> 00:32:54,400 Speaker 1: Shields from shields drones. 570 00:32:54,800 --> 00:32:57,920 Speaker 2: It's just a build stuff that shields stuff from stuff. 571 00:32:58,120 --> 00:33:01,840 Speaker 4: And then two you're thinking about where the geese? 572 00:33:02,000 --> 00:33:05,320 Speaker 2: Would I please you? 573 00:33:05,400 --> 00:33:07,480 Speaker 5: Because you can spend a lot of money right on 574 00:33:07,600 --> 00:33:09,840 Speaker 5: drone shield, right and get all this defense stuff going, 575 00:33:09,880 --> 00:33:12,440 Speaker 5: why not just buy a bunch of geese send them 576 00:33:12,520 --> 00:33:15,600 Speaker 5: up just large birds generally, but geese is the example, 577 00:33:15,640 --> 00:33:16,760 Speaker 5: and just send them up with the drone. 578 00:33:16,760 --> 00:33:18,200 Speaker 3: It's an unlaiden swallow. 579 00:33:18,640 --> 00:33:22,480 Speaker 1: Or you don't necessarily need a small number of large geese. 580 00:33:22,520 --> 00:33:25,040 Speaker 1: You could have a very very large number of very 581 00:33:25,160 --> 00:33:28,480 Speaker 1: small birds, like if you were to, like, why percent 582 00:33:28,600 --> 00:33:32,960 Speaker 1: up ten geese when you could send up two thousands canaries? 583 00:33:33,360 --> 00:33:33,640 Speaker 2: Right? 584 00:33:34,320 --> 00:33:37,520 Speaker 1: Okay? And so you've got different birds for different budgets 585 00:33:37,920 --> 00:33:39,080 Speaker 1: because sparrow. 586 00:33:38,800 --> 00:33:42,720 Speaker 4: Sacrifice any sort of bird you like, sparrows. 587 00:33:42,240 --> 00:33:46,640 Speaker 1: Are doing cheap in this economy. Seriously, just get out 588 00:33:46,680 --> 00:33:49,080 Speaker 1: there by buy I don't know, a couple of crates 589 00:33:49,120 --> 00:33:52,640 Speaker 1: ten thousand Sparrows send them up. Job done. There we 590 00:33:52,680 --> 00:33:54,479 Speaker 1: go Sparrow Shield. 591 00:33:54,960 --> 00:34:03,640 Speaker 4: Yeah, Adam, okay, thank you. Look difficult. But because it's 592 00:34:03,640 --> 00:34:06,400 Speaker 4: an Australian company done so well, Drone Shield. 593 00:34:06,120 --> 00:34:06,560 Speaker 3: Has to win. 594 00:34:07,560 --> 00:34:14,120 Speaker 5: That's just a dud, well played. That's decision, decision. God, 595 00:34:14,160 --> 00:34:18,520 Speaker 5: we're run over time today. You are carrying on, Michael 596 00:34:18,560 --> 00:34:21,719 Speaker 5: and Adam. Your judging has been started off hot, ended 597 00:34:21,760 --> 00:34:22,320 Speaker 5: up cold. 598 00:34:22,520 --> 00:34:24,040 Speaker 2: It's just a debarkle. 599 00:34:26,120 --> 00:34:30,800 Speaker 4: What about the point to yep, Sean ninety three points, 600 00:34:30,840 --> 00:34:32,560 Speaker 4: Michael ninety points. 601 00:34:33,680 --> 00:34:36,120 Speaker 5: Well, we're both surprised on that. So we got two 602 00:34:36,200 --> 00:34:38,680 Speaker 5: all and I won by three points. This is the 603 00:34:38,760 --> 00:34:42,399 Speaker 5: show where Michael can win four nil and there's one 604 00:34:42,440 --> 00:34:43,160 Speaker 5: point different. 605 00:34:44,719 --> 00:34:46,719 Speaker 2: Mathematically impossible, but you can do it. 606 00:34:48,800 --> 00:34:55,040 Speaker 1: Yeah, defy all logic. Okay, good results, not really, but 607 00:34:55,120 --> 00:34:57,120 Speaker 1: it's a result, you know what. It's a result and 608 00:34:57,160 --> 00:34:59,360 Speaker 1: that's what we need because we can't finish without a result. 609 00:34:59,360 --> 00:35:00,320 Speaker 1: We are finally finish. 610 00:35:00,440 --> 00:35:03,320 Speaker 3: Thank you very much, Adam, Thank you, Michael, thank you, Sean. 611 00:35:03,200 --> 00:35:05,840 Speaker 2: Thanks Sean, thanks Michael, thank you Adam. 612 00:35:06,200 --> 00:35:08,400 Speaker 1: Make sure you're following the podcast, and please head to 613 00:35:08,480 --> 00:35:10,640 Speaker 1: Fear and Greed dot com dot au to sign up 614 00:35:10,680 --> 00:35:13,160 Speaker 1: for our free daily newsletter. I'm Michael Thompson, and that 615 00:35:13,239 --> 00:35:13,959 Speaker 1: was fear and greed. 616 00:35:14,320 --> 00:35:15,160 Speaker 3: Have a great weekend.