1 00:00:00,280 --> 00:00:02,719 Speaker 1: This podcast was recorded on the land of the Gadigel 2 00:00:02,720 --> 00:00:04,080 Speaker 1: people of the Eura Nation. 3 00:00:08,119 --> 00:00:11,719 Speaker 2: Hello, and welcome to the Real Story with Joe Hildebrand 4 00:00:12,200 --> 00:00:16,040 Speaker 2: and Sarah Harris. It's a special summer edition and so 5 00:00:16,160 --> 00:00:21,160 Speaker 2: I've got my Summer of Love companion, Sarah. That sounded weird, didn't. 6 00:00:20,960 --> 00:00:23,520 Speaker 1: It, did it sounded really weird some e loven. 7 00:00:24,000 --> 00:00:24,200 Speaker 2: Yeah. 8 00:00:24,920 --> 00:00:26,439 Speaker 1: We never really that's going to be a headline. 9 00:00:26,440 --> 00:00:29,479 Speaker 2: We never really got there, did be. I'm just saying 10 00:00:29,520 --> 00:00:30,720 Speaker 2: I was always in the friend zone. 11 00:00:31,640 --> 00:00:36,760 Speaker 1: Think of Sister rearranged the letters Sister resist. 12 00:00:37,640 --> 00:00:39,800 Speaker 2: Oh that's good. 13 00:00:40,159 --> 00:00:48,040 Speaker 1: Everyone came up with that. Being on your podcast is like, 14 00:00:48,200 --> 00:00:51,240 Speaker 1: it's like being on a less fun Joe Rogan. 15 00:00:53,520 --> 00:00:56,320 Speaker 2: Like being on a less long Joe Rogan. See this 16 00:00:56,400 --> 00:00:57,880 Speaker 2: is the thing, isn't it? This is and this is 17 00:00:57,880 --> 00:00:59,680 Speaker 2: the other. We're talking about Donald Trump last week and 18 00:01:00,320 --> 00:01:02,280 Speaker 2: he's gone on Joe Rogan and Joe Rogan's. 19 00:01:01,960 --> 00:01:04,200 Speaker 1: Like, did you listen to that episode? 20 00:01:04,360 --> 00:01:06,080 Speaker 2: Of course not. I don't have that. I'm forty eight 21 00:01:06,120 --> 00:01:08,240 Speaker 2: years old. I don't have three hours to spare you. 22 00:01:08,240 --> 00:01:10,320 Speaker 2: Eveing to die any day. Now it's summer. 23 00:01:10,400 --> 00:01:11,360 Speaker 1: We'd have something. 24 00:01:11,120 --> 00:01:14,080 Speaker 2: Well, and I think perhaps perhaps dare I say it. 25 00:01:14,160 --> 00:01:17,080 Speaker 2: We are just trying to seek some relief from the 26 00:01:17,120 --> 00:01:19,720 Speaker 2: cost of living crisis. Couse, he lives, he lives. 27 00:01:19,760 --> 00:01:20,839 Speaker 1: It's still biting Corry. 28 00:01:20,880 --> 00:01:23,800 Speaker 2: Dictionary Word of the Year twenty twenty two. 29 00:01:23,840 --> 00:01:29,120 Speaker 1: Three three Yeah, yeah, cozy lives. It wasn't supposed to 30 00:01:29,120 --> 00:01:32,920 Speaker 1: get better better, Yeah, shouldn't We have been looking at 31 00:01:32,959 --> 00:01:35,720 Speaker 1: an interest rate cut by now. Things just seem to 32 00:01:35,720 --> 00:01:37,279 Speaker 1: be getting worse and. 33 00:01:37,160 --> 00:01:39,600 Speaker 2: Worse around the time the voice referendum failed. It was 34 00:01:39,600 --> 00:01:43,160 Speaker 2: supposed to be getting better. Just a coincidence, I'm sure, 35 00:01:43,200 --> 00:01:44,040 Speaker 2: But yes. 36 00:01:44,280 --> 00:01:47,680 Speaker 1: I mean, look, you and I we've known poverty in 37 00:01:47,720 --> 00:01:50,680 Speaker 1: our childhoods. We don't pretend to claim that we are 38 00:01:51,120 --> 00:01:53,680 Speaker 1: anywhere near that these days. I mean, we've been lucky 39 00:01:53,800 --> 00:01:58,080 Speaker 1: enough to end up in an industry where we have, 40 00:01:59,640 --> 00:02:03,520 Speaker 1: but those kind of memories of living hand to mouth 41 00:02:03,520 --> 00:02:05,720 Speaker 1: have probably propelled us to where we are now. 42 00:02:06,000 --> 00:02:08,440 Speaker 2: I think it makes me more anxious. 43 00:02:08,040 --> 00:02:11,480 Speaker 1: Though, agreed. Agreed, because you kind of. 44 00:02:13,800 --> 00:02:14,520 Speaker 2: Would all disappear. 45 00:02:15,040 --> 00:02:17,200 Speaker 1: I think you actually said to me once, you're only 46 00:02:17,200 --> 00:02:21,440 Speaker 1: ever one bad decision away from being homeless, And like 47 00:02:21,680 --> 00:02:24,480 Speaker 1: I feel anxious now, I can't imagine what it would 48 00:02:24,480 --> 00:02:29,160 Speaker 1: be like to have, you know, a bunch of kids, 49 00:02:30,160 --> 00:02:34,320 Speaker 1: you know, living and living kind of on the breadline 50 00:02:34,400 --> 00:02:34,639 Speaker 1: like that. 51 00:02:35,040 --> 00:02:38,080 Speaker 2: Never worried about I was never worried about money until 52 00:02:38,120 --> 00:02:40,480 Speaker 2: I had kids, like I just I would have I 53 00:02:40,480 --> 00:02:42,720 Speaker 2: would literally be, you know, run out of money. I'd 54 00:02:42,760 --> 00:02:48,480 Speaker 2: borrow some off Darren, you know, always Darren's. 55 00:02:47,080 --> 00:02:47,760 Speaker 1: Money to lend. 56 00:02:47,919 --> 00:02:50,120 Speaker 2: Yeah, really always. 57 00:02:50,320 --> 00:02:53,520 Speaker 1: He'd make it, pay it back, He'd always make Yes. 58 00:02:53,480 --> 00:02:56,120 Speaker 2: It was do you know did you see Narcos too that? 59 00:02:56,840 --> 00:02:59,320 Speaker 2: You know, the Narcos series, right, and there was. 60 00:02:59,720 --> 00:03:02,840 Speaker 1: You've decided to call it narcos after eight years of 61 00:03:02,880 --> 00:03:04,200 Speaker 1: calling it narcos. 62 00:03:04,440 --> 00:03:07,919 Speaker 2: I thought it was pronounced the same way as nuchos, 63 00:03:09,360 --> 00:03:11,680 Speaker 2: because even that's not nachos, that's nacho's. 64 00:03:11,360 --> 00:03:12,160 Speaker 1: Yeah exactly. 65 00:03:12,880 --> 00:03:16,240 Speaker 2: Some people say pasta, yeah yeah, or pizza. That's what 66 00:03:16,320 --> 00:03:18,840 Speaker 2: my grandma used to have some pizza. 67 00:03:18,960 --> 00:03:23,160 Speaker 1: Anyway, we're getting we'll go and see a film. 68 00:03:23,360 --> 00:03:26,560 Speaker 2: We are getting straight. But so in Narco's two, you've 69 00:03:26,600 --> 00:03:31,400 Speaker 2: got Diego Luna playing this drug boss. Right, it's really horrible, right, 70 00:03:31,400 --> 00:03:33,200 Speaker 2: it makes him a really sympathetic character, and then he 71 00:03:33,600 --> 00:03:37,640 Speaker 2: tortures this dea agent horribly, horribly horribly, and it's just awful. 72 00:03:37,720 --> 00:03:41,320 Speaker 2: It's a Michael Penna plays brilliant, brilliant, but it's horrible 73 00:03:41,360 --> 00:03:44,960 Speaker 2: to watch, and it basic a spoiler alert. Turn it 74 00:03:45,000 --> 00:03:46,320 Speaker 2: off if you haven't seen it yet, and go and 75 00:03:46,320 --> 00:03:49,240 Speaker 2: see it and then come back. Okay, you're back, right, Yeah, 76 00:03:49,280 --> 00:03:52,280 Speaker 2: I told you it was harrowing, isn't it. So he 77 00:03:52,360 --> 00:03:54,880 Speaker 2: pulls him out of being tortured to give him one 78 00:03:54,920 --> 00:03:58,400 Speaker 2: brief moment of a spite before he kills him, and 79 00:03:58,440 --> 00:04:01,920 Speaker 2: he gives him a sigarette, says, you want a cigarette, 80 00:04:02,080 --> 00:04:05,160 Speaker 2: and Diego Luna then takes a cigarette for himself, and 81 00:04:05,200 --> 00:04:08,280 Speaker 2: he says, I need them. I need them for the stress. 82 00:04:08,520 --> 00:04:10,280 Speaker 2: You know, I need them to help relieve I smoke 83 00:04:10,360 --> 00:04:12,760 Speaker 2: to relieve the stress. I guess you know, before I 84 00:04:12,800 --> 00:04:18,080 Speaker 2: was rich, I slept like a baby. And that's you know. 85 00:04:18,960 --> 00:04:21,720 Speaker 1: Packet of packet of siggis cost fifty bucks these exactly. 86 00:04:21,880 --> 00:04:25,280 Speaker 2: But Diego Luna would not be smoking cigarettes right now. Yeah, 87 00:04:25,279 --> 00:04:26,040 Speaker 2: it would be vaping. 88 00:04:26,560 --> 00:04:28,960 Speaker 1: I mean, I don't know about you, but I'm like, 89 00:04:29,000 --> 00:04:32,200 Speaker 1: I mean, the just getting slammed by the mortgage at 90 00:04:32,200 --> 00:04:32,839 Speaker 1: the moment. 91 00:04:32,680 --> 00:04:35,679 Speaker 2: Mortgage is massive. The bills are just going through the room. 92 00:04:35,640 --> 00:04:40,200 Speaker 1: Like I've changed, Like, you know, even my health insurance 93 00:04:40,279 --> 00:04:43,720 Speaker 1: to the bear basics, you know, like you just you know, 94 00:04:44,600 --> 00:04:49,400 Speaker 1: I'm a huge petrol watcher as well as I love it. 95 00:04:49,640 --> 00:04:51,480 Speaker 2: If you got the app, you've got the fuel watch app. No, 96 00:04:51,720 --> 00:04:52,200 Speaker 2: get on that. 97 00:04:52,360 --> 00:04:53,880 Speaker 1: I don't know, but you do that dumb thing where 98 00:04:53,880 --> 00:04:56,440 Speaker 1: you're happy to drive like through eight different sets of 99 00:04:56,480 --> 00:05:00,280 Speaker 1: tolls twenty minutes away to get eight No, it's actually not. 100 00:05:00,600 --> 00:05:03,840 Speaker 2: Well No, I've actually I've turned on avoid tolls on 101 00:05:03,880 --> 00:05:07,760 Speaker 2: my Google Maps. That's how I roll these days, very 102 00:05:07,800 --> 00:05:11,280 Speaker 2: slowly and sporadically. And but yeah, I do. I do 103 00:05:11,400 --> 00:05:13,480 Speaker 2: go the field watch app, and it's you can get 104 00:05:13,480 --> 00:05:15,599 Speaker 2: like thirty cents a lead less. 105 00:05:17,600 --> 00:05:20,040 Speaker 1: What's going to happen? I mean, I'm an ambassador for 106 00:05:20,080 --> 00:05:22,240 Speaker 1: the Smith family. You would know from your work with 107 00:05:23,279 --> 00:05:25,279 Speaker 1: Yeah that people are. 108 00:05:25,400 --> 00:05:28,480 Speaker 2: Well, this is the thing. It's actually inflation goes down, 109 00:05:28,560 --> 00:05:31,240 Speaker 2: it doesn't actually go down, so it just stops going 110 00:05:31,320 --> 00:05:34,520 Speaker 2: up as fast as it was. And that's why the 111 00:05:34,600 --> 00:05:36,800 Speaker 2: Reserve Bank. As much as I hate it and as 112 00:05:36,880 --> 00:05:39,320 Speaker 2: much as it's killing me, and it's killing a bunch 113 00:05:39,400 --> 00:05:45,799 Speaker 2: more people even more. But if once you put up rates, 114 00:05:46,520 --> 00:05:48,680 Speaker 2: you can take them back down again, not just put 115 00:05:48,680 --> 00:05:51,160 Speaker 2: them up, not as quickly as you were putting them up, 116 00:05:51,480 --> 00:05:53,520 Speaker 2: but you can actually cut them, and that is in 117 00:05:53,560 --> 00:05:56,440 Speaker 2: your control. RBA has the power to do that. No 118 00:05:56,440 --> 00:05:58,440 Speaker 2: one has the power over inflation, which is why. 119 00:05:58,480 --> 00:06:00,440 Speaker 1: But that is the only instrumented. 120 00:06:00,520 --> 00:06:03,279 Speaker 2: And it's an incredibly blunt instrument, that's right, And so 121 00:06:03,400 --> 00:06:07,240 Speaker 2: it has to smash basically, what is just one third 122 00:06:07,360 --> 00:06:10,839 Speaker 2: of the economy, has to smash all them to the 123 00:06:10,880 --> 00:06:12,960 Speaker 2: point where they are so crushed that they can't spend. 124 00:06:12,960 --> 00:06:15,760 Speaker 2: And let's not forget that spending is only part of 125 00:06:15,760 --> 00:06:19,000 Speaker 2: the inflation problem. So it's not I don't think it 126 00:06:19,040 --> 00:06:22,320 Speaker 2: even is anymore. It was just after COVID, So all 127 00:06:22,360 --> 00:06:26,280 Speaker 2: these COVID restrictions and the subsequent lifting of them and 128 00:06:26,320 --> 00:06:29,760 Speaker 2: the payments people were receiving during COVID had a huge impact. 129 00:06:29,760 --> 00:06:31,200 Speaker 2: That is why we're in this cost of living christ 130 00:06:31,240 --> 00:06:34,160 Speaker 2: at the moment is because of those restrictions and because 131 00:06:34,200 --> 00:06:37,719 Speaker 2: of those payments. That is, and also because of the 132 00:06:37,720 --> 00:06:41,520 Speaker 2: supply chain problems that closing borders left. So again, you know, 133 00:06:41,640 --> 00:06:43,680 Speaker 2: all those people who said that you or I or 134 00:06:43,680 --> 00:06:45,640 Speaker 2: whoever else was crazy when we said do you really 135 00:06:45,720 --> 00:06:47,279 Speaker 2: want to be doing all this stuff? Have you thought 136 00:06:47,320 --> 00:06:51,240 Speaker 2: about the impact of this and now all those little 137 00:06:51,279 --> 00:06:53,760 Speaker 2: numpies who said look us down harder, daddy, Yeah, that's right, 138 00:06:53,800 --> 00:06:55,840 Speaker 2: they're the ones who are responsible for where we are now. 139 00:06:55,880 --> 00:06:59,080 Speaker 2: But so part of it is people going out and 140 00:06:59,080 --> 00:07:01,760 Speaker 2: spending heaps after COVID because yeah, we're free, let's go out. 141 00:07:02,600 --> 00:07:04,760 Speaker 2: But part of it is also all these just not 142 00:07:04,880 --> 00:07:08,160 Speaker 2: having enough people, not having enough workers to fill skill shortages, 143 00:07:08,440 --> 00:07:13,440 Speaker 2: you know, nurses, doctors, age care workers, builders, special types 144 00:07:13,440 --> 00:07:15,320 Speaker 2: of builders to build houses, which is why we don't 145 00:07:15,320 --> 00:07:18,520 Speaker 2: have enough houses. And well that's part of course, and 146 00:07:18,560 --> 00:07:20,840 Speaker 2: of course, like the products like well I think there 147 00:07:20,880 --> 00:07:22,920 Speaker 2: was just like a shortage of wood, Like how do 148 00:07:22,960 --> 00:07:30,600 Speaker 2: you run out of wood in. 149 00:07:30,520 --> 00:07:32,560 Speaker 1: That kind of vein of the housing crisis. I mean, 150 00:07:32,600 --> 00:07:34,960 Speaker 1: there are some practical things that surely the federal government 151 00:07:35,040 --> 00:07:38,080 Speaker 1: could do in order to free up some stock. Some 152 00:07:38,160 --> 00:07:40,480 Speaker 1: of it would be I mean, I think Airbnb has 153 00:07:40,520 --> 00:07:46,200 Speaker 1: been an absolute disaster for the availability of rentals. I 154 00:07:46,240 --> 00:07:49,720 Speaker 1: mean there are some areas where you stand outside an 155 00:07:49,760 --> 00:07:53,480 Speaker 1: apartment complex and every single place in the building has 156 00:07:53,520 --> 00:07:56,200 Speaker 1: been rented out on Airbn. Yeah yeah, yeah, And then 157 00:07:56,560 --> 00:08:01,400 Speaker 1: you know there are so many empty houses sitting around 158 00:08:02,280 --> 00:08:05,480 Speaker 1: for land banking, and you just think how is that 159 00:08:05,560 --> 00:08:08,280 Speaker 1: even allowed? How can a home sit there with no 160 00:08:08,320 --> 00:08:08,800 Speaker 1: one in it? 161 00:08:09,120 --> 00:08:12,200 Speaker 2: So there's really weird things going on, right, and so 162 00:08:12,520 --> 00:08:15,520 Speaker 2: and a lot of the solutions that instinctively think that 163 00:08:15,760 --> 00:08:19,000 Speaker 2: would fix it actually don't. So one I mentioned is migration, right, 164 00:08:19,280 --> 00:08:20,760 Speaker 2: so we'll just stop people coming in. It's but we 165 00:08:20,800 --> 00:08:22,560 Speaker 2: need people to come in to build the houses because 166 00:08:22,560 --> 00:08:23,040 Speaker 2: we can't be We. 167 00:08:23,000 --> 00:08:24,880 Speaker 1: Shouldn't be able to leave an empty house sitting on 168 00:08:24,920 --> 00:08:25,240 Speaker 1: the street. 169 00:08:25,320 --> 00:08:27,240 Speaker 2: Absolute shouldn't be able to leaven empty house sitting on 170 00:08:27,240 --> 00:08:29,280 Speaker 2: the street. The problem with the Airbnb stuff is that 171 00:08:29,360 --> 00:08:32,800 Speaker 2: with Airbnb, there's basically just two types of properties that 172 00:08:33,240 --> 00:08:36,079 Speaker 2: are popular on Airbnb, and that's either properties in nice 173 00:08:36,160 --> 00:08:41,559 Speaker 2: tourists you know, beachside or you know, tree change locations 174 00:08:41,600 --> 00:08:44,839 Speaker 2: like scenic locations, size places and sort of inner city 175 00:08:45,160 --> 00:08:47,240 Speaker 2: places that are close to all the cool stuff, right, 176 00:08:47,600 --> 00:08:52,800 Speaker 2: and so they're not necessarily the kind of rental housing 177 00:08:53,160 --> 00:08:55,440 Speaker 2: that we need. And so what a lot of people 178 00:08:55,480 --> 00:08:57,320 Speaker 2: are saying, well, hang on a minute, there's not a 179 00:08:57,360 --> 00:09:01,160 Speaker 2: rental crisis on the Mornington Peninsula where the Andrews government 180 00:09:01,240 --> 00:09:04,600 Speaker 2: or the Allen government now is slapping all these use 181 00:09:04,640 --> 00:09:07,760 Speaker 2: it or lose taxes on Airbnb, So you're not actually 182 00:09:07,800 --> 00:09:11,240 Speaker 2: solving fixing the crisis where the crisis exists. Now, I'm 183 00:09:11,280 --> 00:09:14,120 Speaker 2: not going to pick apart the numbers. Maybe maybe in 184 00:09:14,240 --> 00:09:17,720 Speaker 2: Rosebud and Sorrento. You know, there is a housing crisis. 185 00:09:17,760 --> 00:09:21,040 Speaker 2: But and so I think that is part of the 186 00:09:21,080 --> 00:09:23,400 Speaker 2: problem and the other part of that. And this is 187 00:09:23,559 --> 00:09:27,720 Speaker 2: really weird my like anecdotally, but my sister in law 188 00:09:27,800 --> 00:09:30,280 Speaker 2: is struggling to rent her flat and it is having 189 00:09:30,280 --> 00:09:32,760 Speaker 2: to keep dropping the bront I'm like, there's a rental 190 00:09:32,800 --> 00:09:37,160 Speaker 2: crisis going on. Shortage in Canterbury. So an awesome part 191 00:09:37,280 --> 00:09:40,120 Speaker 2: of Sydney. That and again it is one of those 192 00:09:40,440 --> 00:09:44,880 Speaker 2: perfect places. So it is traditionally working class, just starting 193 00:09:44,880 --> 00:09:48,440 Speaker 2: to gentrify. Right near transport. It's getting a metro. It's 194 00:09:48,600 --> 00:09:51,000 Speaker 2: already got the you know, the existing rail line, but 195 00:09:51,240 --> 00:09:53,079 Speaker 2: we'll soon get the metro. Like you know, this is 196 00:09:53,120 --> 00:09:55,600 Speaker 2: a boom. You know, it's got new shopping center, new 197 00:09:55,640 --> 00:09:58,960 Speaker 2: apartments going up everywhere right and she right now is 198 00:09:59,000 --> 00:10:04,000 Speaker 2: struggling to even rented out. And that's because the rental 199 00:10:04,040 --> 00:10:05,800 Speaker 2: crist And this is what some people think anyway, the 200 00:10:05,800 --> 00:10:09,040 Speaker 2: rental crisis has got so bad that people have stopped 201 00:10:09,040 --> 00:10:12,559 Speaker 2: looking and you see this with unemployment crisis as well, 202 00:10:12,600 --> 00:10:16,480 Speaker 2: where the number of the unemployment rate drops and you think, oh, 203 00:10:16,480 --> 00:10:18,160 Speaker 2: that's because it's getting better, and it's actually because it's 204 00:10:18,200 --> 00:10:21,199 Speaker 2: getting worse, because people have just given up on looking 205 00:10:21,200 --> 00:10:23,079 Speaker 2: for work. So the number of people looking for work 206 00:10:23,320 --> 00:10:25,400 Speaker 2: goes down, which makes it look like the unemployment rate 207 00:10:25,480 --> 00:10:29,080 Speaker 2: is going down. And I think a lot of people think, well, kids, millennials, whoever, 208 00:10:29,120 --> 00:10:31,880 Speaker 2: it is just sort of given up, which is another 209 00:10:32,120 --> 00:10:34,600 Speaker 2: weird phenomenon, which means they're staying with their parents for longer, 210 00:10:34,640 --> 00:10:36,720 Speaker 2: which is what my system in law is doing. 211 00:10:36,720 --> 00:10:41,640 Speaker 1: Incidentally, we're in a per capita recession now, aren't we Yes, right. 212 00:10:41,880 --> 00:10:44,240 Speaker 2: Yes, And that means for anyone who doesn't know that, 213 00:10:45,040 --> 00:10:47,360 Speaker 2: the economy is growing, but it's not growing at the 214 00:10:47,440 --> 00:10:50,920 Speaker 2: same rate as the population is growing. So the population 215 00:10:51,040 --> 00:10:53,360 Speaker 2: is growing slightly more than the economy is growing, which 216 00:10:53,360 --> 00:10:56,960 Speaker 2: means that per person, there is less money to go around. 217 00:10:57,040 --> 00:11:03,199 Speaker 1: So you ask anyone out there, and it feels pretty shitty, right, 218 00:11:03,200 --> 00:11:06,600 Speaker 1: It feels extremely grim out there. It was interesting last 219 00:11:06,679 --> 00:11:09,960 Speaker 1: year I was listening to one of your podcasts with 220 00:11:10,960 --> 00:11:13,720 Speaker 1: a labor strategist and he was sort of saying you know, look, 221 00:11:13,920 --> 00:11:16,080 Speaker 1: I think what Australians forget is that you know, we 222 00:11:16,120 --> 00:11:19,439 Speaker 1: are you know, we've got a great standard of living 223 00:11:19,480 --> 00:11:20,920 Speaker 1: and it's not as bad as you think it is. 224 00:11:21,080 --> 00:11:25,080 Speaker 2: Yes, as amen, yes, saying all these other countries and yeah, sure, 225 00:11:25,320 --> 00:11:26,120 Speaker 2: relatively well. 226 00:11:26,000 --> 00:11:28,680 Speaker 1: Off people don't feel relatively well off. 227 00:11:28,760 --> 00:11:30,679 Speaker 2: Yeah, and you're right like and I thought that too 228 00:11:30,720 --> 00:11:33,960 Speaker 2: when Amon said, and he very quickly said, look, but 229 00:11:34,080 --> 00:11:37,720 Speaker 2: you know, people have become accustomed to a certain standard 230 00:11:37,720 --> 00:11:40,240 Speaker 2: of living and you take that away from them, and 231 00:11:40,280 --> 00:11:42,080 Speaker 2: you will suffer for it. If you're a government. If 232 00:11:42,080 --> 00:11:44,080 Speaker 2: people go backwards, it doesn't mean it matter if they're 233 00:11:44,080 --> 00:11:46,120 Speaker 2: going from a ten to a nine or a two 234 00:11:46,160 --> 00:11:49,840 Speaker 2: to a one. If they are going backwards, they will 235 00:11:49,880 --> 00:11:51,959 Speaker 2: not like you as a government, and they will likely 236 00:11:52,280 --> 00:11:53,040 Speaker 2: not vote for you. 237 00:11:53,120 --> 00:11:56,120 Speaker 1: And I think, do you think do you think Anthony 238 00:11:56,120 --> 00:11:57,720 Speaker 1: Albanezi can survive this? 239 00:11:59,480 --> 00:12:05,120 Speaker 2: I think if we are, if we are lucky enough 240 00:12:05,120 --> 00:12:06,280 Speaker 2: to get a rate cut. 241 00:12:06,520 --> 00:12:08,319 Speaker 1: In February, they're now saying September. 242 00:12:09,040 --> 00:12:12,240 Speaker 2: I'm aware of that, and and well this February May September, 243 00:12:12,280 --> 00:12:14,880 Speaker 2: And again it was going to be February for a while, 244 00:12:14,880 --> 00:12:18,400 Speaker 2: and then we got good unemployment figures, good jobs figures, 245 00:12:18,960 --> 00:12:21,040 Speaker 2: and so suddenly that pushes a rate cut further away. 246 00:12:21,120 --> 00:12:25,400 Speaker 2: So this is weird, horrible, you know situation where the 247 00:12:25,440 --> 00:12:29,800 Speaker 2: better the economy does, the worse it is for mortgage 248 00:12:29,800 --> 00:12:33,280 Speaker 2: holders because because we're less likely to get a rate cut. 249 00:12:33,320 --> 00:12:36,160 Speaker 2: But I think that would help. I think obviously they 250 00:12:36,160 --> 00:12:38,840 Speaker 2: will roll out and have been starting to roll out 251 00:12:38,880 --> 00:12:42,480 Speaker 2: a whole bunch of kind of goodies ahead of the election. 252 00:12:42,679 --> 00:12:45,040 Speaker 2: Like we saw, you know, just before Christmas, the childcare 253 00:12:46,240 --> 00:12:47,200 Speaker 2: stuff got extended. 254 00:12:47,200 --> 00:12:49,360 Speaker 1: And is that just going to prolong the pain like 255 00:12:49,760 --> 00:12:54,240 Speaker 1: we like with the electricity rebate, right, it kind of 256 00:12:55,000 --> 00:12:56,360 Speaker 1: tricks the numbers a little bit. 257 00:12:56,800 --> 00:12:58,839 Speaker 2: I think as long as it prolongs the pain, or 258 00:12:58,880 --> 00:13:00,880 Speaker 2: not prolongs the pain, but as long as it pushes 259 00:13:00,960 --> 00:13:03,240 Speaker 2: back the pain until after the election, I don't think 260 00:13:03,280 --> 00:13:05,040 Speaker 2: they'll care. I don't think they're going to do anything 261 00:13:05,040 --> 00:13:05,560 Speaker 2: that's going. 262 00:13:05,440 --> 00:13:07,400 Speaker 1: To it's not really about a soft landing. It's just 263 00:13:07,440 --> 00:13:08,160 Speaker 1: about getting. 264 00:13:07,920 --> 00:13:10,840 Speaker 2: Really that's THEBA. Well, the RBA's job is to deliver 265 00:13:11,240 --> 00:13:14,360 Speaker 2: the soft landing. But I think a labor government, more 266 00:13:14,400 --> 00:13:17,160 Speaker 2: so than a liberal government, will say, well, look, we're 267 00:13:17,160 --> 00:13:20,960 Speaker 2: not going to die in a ditch over economic theory. 268 00:13:21,640 --> 00:13:23,520 Speaker 2: If that means that people are going to fall through 269 00:13:23,559 --> 00:13:26,040 Speaker 2: the cracks in the meantime, and I dare say they're 270 00:13:26,040 --> 00:13:27,800 Speaker 2: also going to not die in a ditch if that 271 00:13:27,840 --> 00:13:30,600 Speaker 2: means we lose the election in the meantime. And so 272 00:13:31,200 --> 00:13:33,000 Speaker 2: I think that's what you're seeing with, for example, the 273 00:13:33,040 --> 00:13:36,199 Speaker 2: childcare stuff, like it's kind of less targeted. It's basically 274 00:13:36,240 --> 00:13:37,720 Speaker 2: just saying, you know, we're just going to cut all 275 00:13:37,760 --> 00:13:40,840 Speaker 2: the paperwork and everyone's going to get these three days now. 276 00:13:40,920 --> 00:13:44,840 Speaker 2: That is not necessarily a cost of living relief strategy 277 00:13:44,880 --> 00:13:47,320 Speaker 2: that targets the poorest people. That is actually saying, you 278 00:13:47,360 --> 00:13:50,160 Speaker 2: know what, here's a bit of something for everybody. So 279 00:13:50,360 --> 00:13:53,520 Speaker 2: that's but I think I don't think I certainly don't 280 00:13:53,559 --> 00:13:57,800 Speaker 2: think it's irrecoverable, but I think that certainly. I love 281 00:13:57,840 --> 00:14:02,280 Speaker 2: the line John Howard, who was remembered as you know, 282 00:14:02,960 --> 00:14:05,480 Speaker 2: a fine you know, one of the greatest prime Minister's 283 00:14:05,480 --> 00:14:09,360 Speaker 2: the second longest serving prime minister in Australian history. And 284 00:14:09,600 --> 00:14:11,800 Speaker 2: he is and it was said of him that he 285 00:14:11,840 --> 00:14:13,920 Speaker 2: made every mistake in the book, but he only ever 286 00:14:13,960 --> 00:14:17,920 Speaker 2: made it once and so he learned from his mistakes. 287 00:14:17,920 --> 00:14:20,000 Speaker 2: And his first term was very, very shaky. He lost 288 00:14:20,040 --> 00:14:21,920 Speaker 2: the popular vote the next time he went up there, 289 00:14:22,680 --> 00:14:25,680 Speaker 2: but still just scraped in thanks to a couple of marginals. 290 00:14:25,840 --> 00:14:31,720 Speaker 2: And so I think if Albanezi, you know, Albanize has 291 00:14:31,720 --> 00:14:34,400 Speaker 2: made mistakes, but I haven't yet seen him make the 292 00:14:34,440 --> 00:14:37,560 Speaker 2: same mistake in the same area in the same way twice. 293 00:14:39,440 --> 00:14:41,240 Speaker 2: Once he does that, I'll be very, very worried. But 294 00:14:41,480 --> 00:14:44,520 Speaker 2: at the moment he seems to be sort of learning gradually, 295 00:14:44,560 --> 00:14:45,520 Speaker 2: perhaps not fast enough. 296 00:14:45,880 --> 00:14:47,920 Speaker 1: It's a bit hard to buy a second four point 297 00:14:47,920 --> 00:14:50,600 Speaker 1: two million dollar beach house, isn't it. 298 00:14:50,600 --> 00:14:52,240 Speaker 2: It's not a beach house. It's a cliff top. 299 00:14:52,360 --> 00:14:53,680 Speaker 1: I mean, he's not Malcolm Turnbull. 300 00:14:54,240 --> 00:14:58,240 Speaker 2: No, No, he's mister Seaside match it, not mister Harberside Matches. 301 00:14:58,440 --> 00:14:58,640 Speaker 1: Yeah. 302 00:14:58,760 --> 00:15:01,640 Speaker 2: But yes, again, those kind of optics, I think are 303 00:15:02,360 --> 00:15:08,080 Speaker 2: what you learn very quickly as leader and as prime minister, 304 00:15:08,120 --> 00:15:09,880 Speaker 2: where something as a sort of run of the mill 305 00:15:09,960 --> 00:15:12,000 Speaker 2: politician or even a minister, you do that no, and 306 00:15:12,120 --> 00:15:14,280 Speaker 2: really sort of raised as much of an ever own. 307 00:15:14,320 --> 00:15:16,680 Speaker 2: Penny Wong bought a similar house in Adelaide at the moment. 308 00:15:17,240 --> 00:15:20,480 Speaker 1: Yeah, but she But but he's I mean when he 309 00:15:20,520 --> 00:15:22,840 Speaker 1: was elected, and I remember, I remember the speech he 310 00:15:23,000 --> 00:15:26,200 Speaker 1: gave when he was elected, I voted for him. I 311 00:15:26,760 --> 00:15:29,640 Speaker 1: cried when he said, you know, I'm a kid who 312 00:15:29,640 --> 00:15:32,840 Speaker 1: grow up in Housing Commission with a single mum, and 313 00:15:32,880 --> 00:15:34,360 Speaker 1: now look at me, I'm the Prime Minister. 314 00:15:34,560 --> 00:15:36,160 Speaker 2: Like I was, like, it was beautiful. 315 00:15:36,280 --> 00:15:39,720 Speaker 1: It was and I'll then do that and then when 316 00:15:39,840 --> 00:15:43,400 Speaker 1: people are struggling. No, I'm sure, but it's I think 317 00:15:43,760 --> 00:15:46,640 Speaker 1: for people it feels pretty gauling and a bit like 318 00:15:46,680 --> 00:15:48,200 Speaker 1: a slap in the face when he's there. 319 00:15:48,600 --> 00:15:50,920 Speaker 2: I think that's right, and I think that, you know, 320 00:15:51,040 --> 00:15:52,600 Speaker 2: I mean, his sort of thing is, well, I didn't 321 00:15:52,600 --> 00:15:54,320 Speaker 2: do anything wrong. I've got to have somewhere to live. 322 00:15:54,400 --> 00:15:57,520 Speaker 2: People buy houses all the time, you know, yes, on 323 00:15:57,640 --> 00:15:59,480 Speaker 2: a good wicked I came from a housing commission flat. 324 00:15:59,480 --> 00:16:01,440 Speaker 2: Why shouldn't be able to make And he says, you know, 325 00:16:01,680 --> 00:16:04,200 Speaker 2: this is trying to this about keeping working class people 326 00:16:04,200 --> 00:16:06,160 Speaker 2: down and saying it's a crime when they get ahead. 327 00:16:06,160 --> 00:16:10,600 Speaker 2: You know, you know Darton has is this is just 328 00:16:12,440 --> 00:16:15,760 Speaker 2: this is just his mindset, so. 329 00:16:14,640 --> 00:16:18,280 Speaker 1: So really punching down on elbow. If you criticize his 330 00:16:18,920 --> 00:16:21,440 Speaker 1: you're punching down if you criticize him buying in the 331 00:16:21,480 --> 00:16:22,640 Speaker 1: middle of a housing crisis. 332 00:16:22,640 --> 00:16:24,320 Speaker 2: I don't think I don't think you are, because I am. 333 00:16:24,520 --> 00:16:26,760 Speaker 2: Having worked in the media all my life, I understand 334 00:16:26,800 --> 00:16:30,440 Speaker 2: that in politics and in life, perception is reality. What 335 00:16:30,480 --> 00:16:34,040 Speaker 2: people see and what they think is true, whether you 336 00:16:34,080 --> 00:16:37,600 Speaker 2: think it's true or not. And so so it is 337 00:16:37,640 --> 00:16:39,160 Speaker 2: a bad look obviously to buy a four and a 338 00:16:39,200 --> 00:16:41,960 Speaker 2: half million dollar waterfront home in the middle of a 339 00:16:42,000 --> 00:16:47,120 Speaker 2: housing crisis. Having said that, you know, he paid less 340 00:16:47,160 --> 00:16:49,600 Speaker 2: than the buyer's last bought it for. So it's a 341 00:16:49,600 --> 00:16:50,720 Speaker 2: great Sydney victory. 342 00:16:51,120 --> 00:16:52,160 Speaker 1: Does it have a tennis court? 343 00:16:53,000 --> 00:16:56,000 Speaker 2: That'd be nice? And that is all we have time 344 00:16:56,080 --> 00:16:59,680 Speaker 2: for this week, having solved all of Australia's problems, having 345 00:16:59,760 --> 00:17:03,720 Speaker 2: previously solved all of America's problems, and previously solved all 346 00:17:03,760 --> 00:17:06,520 Speaker 2: of the world's problems, Sarah has Thank you so much 347 00:17:06,520 --> 00:17:08,159 Speaker 2: for joining me these last few weeks. 348 00:17:08,320 --> 00:17:09,960 Speaker 1: I've fluffed at Joe Hildebrand. 349 00:17:10,000 --> 00:17:11,920 Speaker 2: Do make a habit of it. I think we could. 350 00:17:11,960 --> 00:17:15,399 Speaker 2: You know, I'm available, available. 351 00:17:16,480 --> 00:17:18,880 Speaker 1: I'm available, and the money is good. 352 00:17:19,560 --> 00:17:22,840 Speaker 2: It's great. Well, you know what, I double all your appearance. 353 00:17:23,320 --> 00:17:24,320 Speaker 2: Could you the next time? 354 00:17:24,400 --> 00:17:27,960 Speaker 1: Excellent? Because that you know, because it lives bite. 355 00:17:28,240 --> 00:17:31,160 Speaker 2: Thanks so much for joining us. If there's anything you'd 356 00:17:31,200 --> 00:17:33,159 Speaker 2: like to say to us, go to the Real Story 357 00:17:33,200 --> 00:17:35,919 Speaker 2: at Nova Podcasts dot com dot au or hit me 358 00:17:36,000 --> 00:17:39,600 Speaker 2: up on Instagram at Joe Underscore Hildebrand and slide into 359 00:17:39,640 --> 00:17:42,879 Speaker 2: my dms and you can leave us a review or 360 00:17:42,920 --> 00:17:44,919 Speaker 2: a rating, as long as it's a good one and 361 00:17:44,960 --> 00:17:47,640 Speaker 2: you can read anything else. I've got to say, if 362 00:17:47,680 --> 00:17:50,320 Speaker 2: you're craving for it, I can't imagine you would be. 363 00:17:50,320 --> 00:17:53,200 Speaker 2: You probably probably pretty much had your feel by now. 364 00:17:53,240 --> 00:17:54,879 Speaker 2: But if you, you know, if you're more of a 365 00:17:54,960 --> 00:17:58,920 Speaker 2: visual guy or girl, then read my columns in the 366 00:17:59,000 --> 00:18:03,040 Speaker 2: Daily Telegraph for other news court Masters every Monday and Saturday, 367 00:18:03,119 --> 00:18:04,320 Speaker 2: and I will see you next week. 368 00:18:06,359 --> 00:18:09,000 Speaker 1: Mhm.