1 00:00:06,280 --> 00:00:08,799 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,840 --> 00:00:11,119 Speaker 1: business news for people who make their own decisions. Are 3 00:00:11,160 --> 00:00:15,640 Speaker 1: Michael Thompson and good morning, Sean. Aylmer, Good morning, Michael, Sean. 4 00:00:15,880 --> 00:00:17,439 Speaker 1: Our weekend show was all about the two of us, 5 00:00:17,480 --> 00:00:20,840 Speaker 1: each nominating what we think is the biggest business story 6 00:00:21,000 --> 00:00:24,600 Speaker 1: of the week, the most remarkable business story, a sleeper story, 7 00:00:24,640 --> 00:00:26,680 Speaker 1: one that's been flying under the radar a little bit, 8 00:00:26,960 --> 00:00:30,639 Speaker 1: and our favorite business ish story. It is a competition. 9 00:00:30,720 --> 00:00:33,000 Speaker 1: We are each nominating these and there must be a 10 00:00:33,040 --> 00:00:36,000 Speaker 1: winner in every category, and the judge to pick that 11 00:00:36,080 --> 00:00:38,880 Speaker 1: winner is our Fear and Greed colleague, Adam Lang Adam. 12 00:00:38,760 --> 00:00:40,839 Speaker 2: Good morning, Good morning, Michael. 13 00:00:42,159 --> 00:00:44,599 Speaker 1: Can you please give us what about me? 14 00:00:44,800 --> 00:00:46,120 Speaker 3: Good morning, Sean, Thank you. 15 00:00:48,240 --> 00:00:51,800 Speaker 1: Okay. Can we hear your criteria for what you're looking 16 00:00:51,840 --> 00:00:53,600 Speaker 1: for this morning, Adam, And to put you under a 17 00:00:53,640 --> 00:00:55,320 Speaker 1: bit of time pressure, because I know you struggle with 18 00:00:55,360 --> 00:00:56,440 Speaker 1: this fifteen seconds. 19 00:00:56,440 --> 00:01:02,080 Speaker 4: Please topicality, timeliness, economic impact, of course, a bit of 20 00:01:02,080 --> 00:01:03,200 Speaker 4: my subjective. 21 00:01:02,760 --> 00:01:04,680 Speaker 2: Bias, and please add melodrama. 22 00:01:05,280 --> 00:01:08,040 Speaker 1: I'm glad you got rid of the extra category from 23 00:01:08,160 --> 00:01:09,800 Speaker 1: last week, which was brevity. 24 00:01:10,319 --> 00:01:11,040 Speaker 2: It didn't work. 25 00:01:11,560 --> 00:01:13,919 Speaker 1: No, it didn't, did it? And no one got penalized 26 00:01:13,959 --> 00:01:16,759 Speaker 1: for it. It was just it was just probably course, 27 00:01:18,800 --> 00:01:21,560 Speaker 1: let's jump straight into it this morning, because there's been 28 00:01:21,600 --> 00:01:23,319 Speaker 1: a lot happened in the last week that we need 29 00:01:23,360 --> 00:01:25,920 Speaker 1: to get through. And I always say that this is 30 00:01:25,920 --> 00:01:29,000 Speaker 1: going to be my week for brevity. This is going 31 00:01:29,040 --> 00:01:32,160 Speaker 1: to be my week for brevity. Can I go first? 32 00:01:32,360 --> 00:01:35,080 Speaker 1: If I fast, if I promised to go quickly, can 33 00:01:35,120 --> 00:01:40,480 Speaker 1: I go first? Just for something different, completely different this week, 34 00:01:41,360 --> 00:01:43,200 Speaker 1: My biggest story is Donald Trump. 35 00:01:44,640 --> 00:01:45,840 Speaker 3: Well, there's a melodrama. 36 00:01:47,280 --> 00:01:51,240 Speaker 1: Look, it's more the fact, right that this week, this 37 00:01:51,360 --> 00:01:57,400 Speaker 1: week Australia was dragged into the tariff debarcle all right, 38 00:01:58,080 --> 00:02:00,680 Speaker 1: it is essentially Donald Trump's war on prey at the moment. 39 00:02:00,720 --> 00:02:02,920 Speaker 1: It's been an extraordinary and you must go back and 40 00:02:02,960 --> 00:02:08,160 Speaker 1: listen if you haven't to Kevin Hebner's interview earlier this week. Sean, 41 00:02:08,200 --> 00:02:11,359 Speaker 1: you did a great chat with him about it started 42 00:02:11,360 --> 00:02:13,400 Speaker 1: out talking about AI and you ended up talking about 43 00:02:13,480 --> 00:02:17,720 Speaker 1: kind of the reasons why Trump is pursuing these various measures, 44 00:02:17,720 --> 00:02:20,120 Speaker 1: and it was a great explanation of it. So a 45 00:02:20,160 --> 00:02:25,560 Speaker 1: little bit of praise there. Just yeah, feeling very good 46 00:02:25,680 --> 00:02:28,800 Speaker 1: nature today. It doesn't feel like a competition anyway, Donald 47 00:02:28,800 --> 00:02:31,760 Speaker 1: Trump has had tariffs on Canada and backflipped on Mexico 48 00:02:31,840 --> 00:02:34,600 Speaker 1: and ten percent on China. Now a tariff on all 49 00:02:35,080 --> 00:02:41,560 Speaker 1: steel and aluminium products from everyone, everyone world wide, and 50 00:02:41,680 --> 00:02:47,359 Speaker 1: that because we are part of the world, includes Australia. 51 00:02:47,600 --> 00:02:49,679 Speaker 1: Things I don't need to point out. I'm going to 52 00:02:49,720 --> 00:02:52,520 Speaker 1: pop that one on the list. Now. This this is 53 00:02:52,520 --> 00:02:55,760 Speaker 1: where diplomacy comes in, right, because you've got Prime Minister 54 00:02:55,800 --> 00:03:01,280 Speaker 1: Anthony Alberanezi on the phone to Donald Trump begging for 55 00:03:01,440 --> 00:03:05,880 Speaker 1: an exemption, citing our strong military ties, the US's trade 56 00:03:05,919 --> 00:03:09,639 Speaker 1: surplus with Australia. The thing is that we're seeing Australia. 57 00:03:09,680 --> 00:03:13,280 Speaker 1: We're seeing Australian companies being affected by this big ones, 58 00:03:13,440 --> 00:03:15,959 Speaker 1: some more so than others, some less so because I 59 00:03:15,960 --> 00:03:18,320 Speaker 1: actually have their operations within the US. But you can 60 00:03:18,360 --> 00:03:22,480 Speaker 1: see then companies taking it into considerations of how they're operating. 61 00:03:22,520 --> 00:03:25,680 Speaker 1: The President is considering this exemption, but at the moment 62 00:03:25,720 --> 00:03:27,720 Speaker 1: we are still lumped in with the rest of them. 63 00:03:28,080 --> 00:03:31,560 Speaker 1: This is big business, this is global politics, this is 64 00:03:31,600 --> 00:03:35,200 Speaker 1: Australian politics, this is the local economy, this is global 65 00:03:35,280 --> 00:03:39,320 Speaker 1: trade and everything all rolled into one, and we are 66 00:03:39,440 --> 00:03:42,240 Speaker 1: in the thick of it, right, now now having said 67 00:03:42,720 --> 00:03:44,760 Speaker 1: all of that, right, and I realized I might have 68 00:03:44,800 --> 00:03:49,720 Speaker 1: just overregged that just an weave it because and details 69 00:03:49,760 --> 00:03:52,280 Speaker 1: are important on this show. Despite what I try and insist, 70 00:03:53,480 --> 00:03:57,560 Speaker 1: the President did clarify things lace in the week, because 71 00:03:57,600 --> 00:03:59,640 Speaker 1: he then went on to say that, look, we're going 72 00:03:59,680 --> 00:04:02,400 Speaker 1: to do this on a country by country basis and 73 00:04:02,960 --> 00:04:06,560 Speaker 1: really assess it based on which countries with trade deficits, 74 00:04:07,120 --> 00:04:10,120 Speaker 1: so it may not be as kind of just open 75 00:04:10,160 --> 00:04:13,720 Speaker 1: slather as it was initially made out to be. Having 76 00:04:13,840 --> 00:04:16,000 Speaker 1: said all of that as well, Adam, I don't want 77 00:04:16,040 --> 00:04:18,560 Speaker 1: you to kind of rule against me because I went 78 00:04:18,600 --> 00:04:22,600 Speaker 1: off early with my story. I want you to assess 79 00:04:22,680 --> 00:04:25,400 Speaker 1: this in the same way that Donald Trump assesses things 80 00:04:25,480 --> 00:04:31,400 Speaker 1: country by country, story by story, and give me points 81 00:04:32,800 --> 00:04:33,360 Speaker 1: for effort. 82 00:04:34,880 --> 00:04:38,760 Speaker 4: That's a please, can't seed, that's not one of my criteria. 83 00:04:38,960 --> 00:04:43,159 Speaker 1: That's well, well, you know, because the problem is, Sean, 84 00:04:43,320 --> 00:04:46,360 Speaker 1: you and I had a conversation on Tuesday when when 85 00:04:46,400 --> 00:04:48,280 Speaker 1: all of this was going down, with all of the 86 00:04:48,480 --> 00:04:50,200 Speaker 1: with all of the tariffs, and I said, I'm doing 87 00:04:50,200 --> 00:04:51,800 Speaker 1: this is the biggest story of the week. And I 88 00:04:51,920 --> 00:04:54,320 Speaker 1: was locked in from that moment because I'm like, there's 89 00:04:54,320 --> 00:04:56,920 Speaker 1: going to be nothing bigger. I've got this and I've 90 00:04:56,920 --> 00:05:00,200 Speaker 1: been so set, and then on Friday everything I got 91 00:05:00,240 --> 00:05:03,400 Speaker 1: turned around. I'm like, oh, well, this is a stitch up, 92 00:05:03,480 --> 00:05:03,880 Speaker 1: isn't it. 93 00:05:04,120 --> 00:05:05,839 Speaker 3: The beauty of it, though, is that we have no 94 00:05:05,920 --> 00:05:08,359 Speaker 3: idea that it's been turned around or not. Really, this 95 00:05:08,400 --> 00:05:10,719 Speaker 3: is Donald Trafford. He's talking about one hundred percent tariff 96 00:05:10,800 --> 00:05:13,920 Speaker 3: on brick nations. So you muck around with the US dollar, 97 00:05:13,920 --> 00:05:18,000 Speaker 3: We're going to put one hundred percent tariff on Brazil, Russia, India, China. Like, 98 00:05:18,640 --> 00:05:21,280 Speaker 3: who knows, So maybe it is, maybe. 99 00:05:21,000 --> 00:05:25,440 Speaker 1: It's reciprocal tariffs on US trade partners. It is a mess, 100 00:05:25,560 --> 00:05:27,840 Speaker 1: and who knows what's going to happen. All we know. 101 00:05:27,920 --> 00:05:30,240 Speaker 1: The only thing that we do know for sure is 102 00:05:30,279 --> 00:05:32,719 Speaker 1: that today's judging is going to be erratic. Suan over 103 00:05:32,760 --> 00:05:34,520 Speaker 1: to your entry. 104 00:05:34,839 --> 00:05:37,000 Speaker 3: In keeping with that, I'm actually going to give a story, 105 00:05:37,120 --> 00:05:39,520 Speaker 3: the biggest story of the week that matters that we 106 00:05:39,560 --> 00:05:43,839 Speaker 3: can actually say happened. Reporting season. I reckon, it's been good, 107 00:05:43,839 --> 00:05:45,240 Speaker 3: but weird, is how I put it. 108 00:05:45,279 --> 00:05:45,640 Speaker 1: So far. 109 00:05:45,880 --> 00:05:48,320 Speaker 3: This is sort of the first full week of proper 110 00:05:48,360 --> 00:05:51,920 Speaker 3: reporting season. The impact of Donald Trump has been really significant. 111 00:05:51,920 --> 00:05:53,479 Speaker 3: I reckon, that's the trend that's come out of it, 112 00:05:53,520 --> 00:05:56,719 Speaker 3: some really good results. Comwealth Bank Bang five point one 113 00:05:56,839 --> 00:05:59,640 Speaker 3: three billion dollars for the half a year. Just keeps 114 00:05:59,680 --> 00:06:03,239 Speaker 3: going high fi you know these quality companies, quality earnings, 115 00:06:03,240 --> 00:06:08,840 Speaker 3: share price is still rising. Phenomenal. There's been some great results, 116 00:06:09,320 --> 00:06:11,680 Speaker 3: basically the gold miners because the price of goals almost 117 00:06:11,680 --> 00:06:16,000 Speaker 3: three hundred US dollars announced Evolution Northern Star phenomenal. Slightly 118 00:06:16,040 --> 00:06:19,000 Speaker 3: disappointing results. IAG lost ten percent of the day that 119 00:06:19,120 --> 00:06:24,320 Speaker 3: it reported because premium growth isn't what it used to be. 120 00:06:24,920 --> 00:06:27,160 Speaker 3: The good news in that, of course, is that premium 121 00:06:27,200 --> 00:06:29,560 Speaker 3: growth is what we pay as consumers, so we're not 122 00:06:29,600 --> 00:06:31,520 Speaker 3: going to get the big jumps and premiums that we had. 123 00:06:31,640 --> 00:06:34,000 Speaker 3: Shareholders don't like it so much because that's how IAG 124 00:06:34,120 --> 00:06:37,760 Speaker 3: makes money. Promedicus was another good one. Well, it wasn't 125 00:06:37,760 --> 00:06:40,960 Speaker 3: so good. Promedicus is such an expensive stock relative to 126 00:06:41,000 --> 00:06:44,839 Speaker 3: other stocks, and it just didn't quite hit what the 127 00:06:44,920 --> 00:06:47,880 Speaker 3: market wanted and it was sold off. But this theme 128 00:06:48,080 --> 00:06:51,440 Speaker 3: of Donald Trump medical gloves and surgical gam manufacturer ansels 129 00:06:51,560 --> 00:06:54,960 Speaker 3: it's going to accelerate building factories outside China, and it's 130 00:06:54,960 --> 00:06:58,240 Speaker 3: already looking at Sri Lanka so that it can when 131 00:06:58,279 --> 00:07:01,240 Speaker 3: it exports products to the US won't be hit with 132 00:07:01,279 --> 00:07:03,880 Speaker 3: those Chinese tariffs. It also said, we're just going to 133 00:07:03,920 --> 00:07:05,800 Speaker 3: raise our prices around the world. That's how we'll make 134 00:07:05,880 --> 00:07:09,600 Speaker 3: up for these tariffs. CSL's Blood Plasma group Is share 135 00:07:09,640 --> 00:07:12,280 Speaker 3: price tumbled in part because of the outlook for the 136 00:07:12,360 --> 00:07:15,600 Speaker 3: vaccine business. Real shame when you're in the US and 137 00:07:15,640 --> 00:07:18,080 Speaker 3: the Department of Health. You mean you've got a vaccine 138 00:07:18,120 --> 00:07:20,760 Speaker 3: business in the US. The head of health there, Robert 139 00:07:21,320 --> 00:07:25,720 Speaker 3: Kennedy Jr. Is anti vaccine. Damn it. That doesn't help 140 00:07:25,720 --> 00:07:29,000 Speaker 3: your business strategy, that's for sure. The other one was 141 00:07:29,080 --> 00:07:31,880 Speaker 3: Macquarie Group. Now it had a quarterly update this week, 142 00:07:32,080 --> 00:07:33,800 Speaker 3: but all the questioning was what are you going to 143 00:07:33,800 --> 00:07:36,360 Speaker 3: do about all your renewable assets. You've got a bunch 144 00:07:36,400 --> 00:07:39,480 Speaker 3: of them in US Europe. How are you going to 145 00:07:39,480 --> 00:07:41,760 Speaker 3: get rid of them in this Trump world? So just 146 00:07:41,800 --> 00:07:44,560 Speaker 3: that impact of Donald Trump is quite phenomenal. How we're 147 00:07:44,560 --> 00:07:46,760 Speaker 3: actually seeing it on Australian companies already. He's only been 148 00:07:46,800 --> 00:07:49,720 Speaker 3: in the job for three weeks. Earning season by far 149 00:07:49,800 --> 00:07:52,880 Speaker 3: the biggest story because we actually know what happened or 150 00:07:53,000 --> 00:07:55,520 Speaker 3: is in Michael's story. We're not quite sure. 151 00:07:55,760 --> 00:07:59,160 Speaker 1: But we have some ideas. We do have ideas, and 152 00:07:59,320 --> 00:08:02,520 Speaker 1: we've hadro headlines through the week, and really if we 153 00:08:02,640 --> 00:08:04,240 Speaker 1: just based it on that, then maybe I'm in with 154 00:08:04,280 --> 00:08:04,800 Speaker 1: a chance. Yeah. 155 00:08:04,800 --> 00:08:06,720 Speaker 3: If the headline, if it's the headline, thing, you win. 156 00:08:07,760 --> 00:08:13,520 Speaker 4: So tough to call both massive stories, Sean. Also the 157 00:08:13,560 --> 00:08:17,080 Speaker 4: way it's reflected the annual results or the results season 158 00:08:18,320 --> 00:08:20,560 Speaker 4: looking back, and also your comments during the week on 159 00:08:20,760 --> 00:08:23,040 Speaker 4: what it says about forward earnings of each of those 160 00:08:23,080 --> 00:08:25,600 Speaker 4: companies and how they're looking and which ones went up 161 00:08:25,640 --> 00:08:28,320 Speaker 4: and down so how each of them are seeing their industries. 162 00:08:29,440 --> 00:08:34,200 Speaker 4: Spectacular week for big stories, I think it's Trump and 163 00:08:34,320 --> 00:08:39,719 Speaker 4: tariffs though. To get it for me now, this is 164 00:08:39,960 --> 00:08:41,400 Speaker 4: it's a business negotiation. 165 00:08:41,600 --> 00:08:46,760 Speaker 3: Subjective bias, Michael, subjective ad bias. He has no interest 166 00:08:46,840 --> 00:08:48,840 Speaker 3: in corporate Australia whatsoever. 167 00:08:49,480 --> 00:08:52,439 Speaker 1: I've said it before, anti business, anti business. 168 00:08:52,920 --> 00:08:55,880 Speaker 3: That's our man, Michael wins. 169 00:08:56,960 --> 00:08:59,079 Speaker 1: I don't know why I'm arguing against Adam right now. 170 00:08:59,200 --> 00:09:03,160 Speaker 1: Is just ruled to stick the booty against all odds. 171 00:09:03,360 --> 00:09:07,280 Speaker 1: This is great, Okay, let's move on. 172 00:09:07,760 --> 00:09:09,920 Speaker 3: I'll go first. Most remarkable story. 173 00:09:10,160 --> 00:09:12,160 Speaker 1: Please, what have you got for us? Because there's been 174 00:09:12,200 --> 00:09:13,280 Speaker 1: some crackers this week. 175 00:09:13,480 --> 00:09:21,679 Speaker 3: Yes, the cracker. This is literally a one off. The 176 00:09:21,720 --> 00:09:24,880 Speaker 3: next time the Michael. You don't even know what I'm 177 00:09:24,880 --> 00:09:27,960 Speaker 3: talking about yet. You haven't gone to the notes and 178 00:09:28,040 --> 00:09:30,120 Speaker 3: cheated already and checked out what I was doing. 179 00:09:30,360 --> 00:09:33,000 Speaker 1: Crapping on about this story all week. You know what 180 00:09:33,080 --> 00:09:33,760 Speaker 1: you're going to say. 181 00:09:33,960 --> 00:09:39,440 Speaker 3: Here he is here, he is the most expensive house 182 00:09:39,880 --> 00:09:44,760 Speaker 3: ever sold in Australia. One one hundred and fifty million 183 00:09:44,880 --> 00:09:48,760 Speaker 3: dollars going to the couple in the corner who are anonymous. 184 00:09:48,800 --> 00:09:51,840 Speaker 3: I don't know who it was, and a state in 185 00:09:51,920 --> 00:09:57,000 Speaker 3: tuak Kunak. It's called built in eighteen sixty seven, owned 186 00:09:57,000 --> 00:10:01,280 Speaker 3: by Paul Little Toll Holdings his wife Jane Hanson. She's 187 00:10:01,360 --> 00:10:05,520 Speaker 3: chancellor of the University of Melbourne. They called it an 188 00:10:05,520 --> 00:10:09,040 Speaker 3: italianate mansion. One point one hectares pool, cabana, tennis court, 189 00:10:09,240 --> 00:10:13,240 Speaker 3: park like gardens, two hundred meters frontry, two hundred meter 190 00:10:13,400 --> 00:10:16,559 Speaker 3: frontage on the Clendon Road. They paid about four and 191 00:10:16,640 --> 00:10:19,360 Speaker 3: a half million dollars in two thousand and two. According 192 00:10:19,400 --> 00:10:22,079 Speaker 3: to the fin Review, the previous record in Melbourne was 193 00:10:22,120 --> 00:10:23,960 Speaker 3: eighty million, so we've gone to one hundred and fifty million. 194 00:10:24,040 --> 00:10:26,440 Speaker 3: Previous house record in Sydney was one hundred and thirty 195 00:10:26,480 --> 00:10:28,480 Speaker 3: one the Sydney Records one hundred and thirty million, a 196 00:10:28,520 --> 00:10:30,760 Speaker 3: couple of places in Point Piper. There's an apartment in 197 00:10:30,800 --> 00:10:32,640 Speaker 3: Sydney on Brengero that went for one hundred and forty 198 00:10:32,640 --> 00:10:36,040 Speaker 3: million dollars. But how remarkable to send one hundred and 199 00:10:36,080 --> 00:10:37,720 Speaker 3: fifty million dollars on a house. 200 00:10:37,760 --> 00:10:37,840 Speaker 1: Now? 201 00:10:37,880 --> 00:10:39,160 Speaker 3: Can I tell you a Paul Little story? 202 00:10:39,480 --> 00:10:39,800 Speaker 2: Please? 203 00:10:39,840 --> 00:10:40,880 Speaker 1: Do? Oh yeah please? 204 00:10:41,120 --> 00:10:44,160 Speaker 3: As you know, I used to edit The Bow and 205 00:10:44,200 --> 00:10:46,800 Speaker 3: we had the rich list on it, and part of 206 00:10:46,840 --> 00:10:51,199 Speaker 3: that you'd have to ring the people on the rich 207 00:10:51,240 --> 00:10:54,160 Speaker 3: list and say, hey, we think you're worth eight hundred 208 00:10:54,200 --> 00:10:56,760 Speaker 3: million dollars? Is that right or wrong? And sometimes they'd 209 00:10:56,760 --> 00:10:59,439 Speaker 3: say great, yep, we'll do that one that's correct, or no, 210 00:10:59,520 --> 00:11:01,960 Speaker 3: that's wrong, or hours that hang up on you whatever. 211 00:11:02,160 --> 00:11:05,880 Speaker 3: Poor little nice fellow, though genuinely nice guy. He I 212 00:11:06,080 --> 00:11:07,840 Speaker 3: remembering in him and saying, I think it was like 213 00:11:07,920 --> 00:11:10,520 Speaker 3: eight hundred and ninety two million or something like that 214 00:11:10,559 --> 00:11:11,000 Speaker 3: at the time. 215 00:11:11,000 --> 00:11:11,920 Speaker 1: It sort of vinergar. 216 00:11:12,120 --> 00:11:13,000 Speaker 2: Is this sewn. 217 00:11:15,720 --> 00:11:20,480 Speaker 3: Late naughties, I'm guessing, oh wow? And he had sold 218 00:11:20,520 --> 00:11:22,800 Speaker 3: out a toll Actually it must be two thousand and eight, 219 00:11:22,840 --> 00:11:26,959 Speaker 3: two thousand and nine because he had sold been given 220 00:11:26,960 --> 00:11:30,600 Speaker 3: the cash for his toll Holdings holding that was taken 221 00:11:30,600 --> 00:11:33,000 Speaker 3: out I think by a Japanese group and he got 222 00:11:33,160 --> 00:11:34,800 Speaker 3: the money from it, and so it might be eight 223 00:11:34,880 --> 00:11:37,120 Speaker 3: hundred million dollars and he got it and he put 224 00:11:37,120 --> 00:11:40,000 Speaker 3: it in the bank because hey, we're going to transfer 225 00:11:40,040 --> 00:11:41,960 Speaker 3: it to your account, he said. So they put it 226 00:11:41,960 --> 00:11:44,480 Speaker 3: into the account, and you know, a day or two late, 227 00:11:44,520 --> 00:11:45,800 Speaker 3: I just hadn't I hadn't worked out what I was 228 00:11:45,840 --> 00:11:48,200 Speaker 3: going to do with all that money. The sheer market collapsed. 229 00:11:49,520 --> 00:11:52,040 Speaker 3: He said, all my money was in a bank, was 230 00:11:52,040 --> 00:11:57,080 Speaker 3: in a bank deposit. And the GFC hit And he said, 231 00:11:57,240 --> 00:12:00,480 Speaker 3: I'd like to say that was me being really still art, 232 00:12:01,400 --> 00:12:04,840 Speaker 3: but it wasn't. It's just that's where I got the money, brilliant, 233 00:12:05,040 --> 00:12:06,640 Speaker 3: And that's where it was at the time. And the 234 00:12:06,679 --> 00:12:07,560 Speaker 3: gens that you hit. 235 00:12:07,720 --> 00:12:10,079 Speaker 2: By doing nothing, he made a lot of money or 236 00:12:10,120 --> 00:12:10,800 Speaker 2: saved himself. 237 00:12:11,360 --> 00:12:12,840 Speaker 3: Yeah, good on him, brilliant. 238 00:12:12,880 --> 00:12:16,199 Speaker 1: That's a great story. Yeah, so much better than the 239 00:12:16,240 --> 00:12:17,040 Speaker 1: story you entered. 240 00:12:17,480 --> 00:12:20,120 Speaker 3: Remarkable. They're all remarkable, Michael. Your story. 241 00:12:20,520 --> 00:12:22,760 Speaker 1: Look to me, Sean, and I know you're going to 242 00:12:22,840 --> 00:12:26,880 Speaker 1: criticize me because that's what you did. It is remarkable 243 00:12:27,280 --> 00:12:30,520 Speaker 1: how much the federal government is stepping in to bail 244 00:12:30,720 --> 00:12:31,960 Speaker 1: out the Bush. 245 00:12:32,160 --> 00:12:35,960 Speaker 3: Right this are you suggesting they shouldn't be stepping in? 246 00:12:36,520 --> 00:12:37,240 Speaker 1: No, not at all. 247 00:12:37,320 --> 00:12:39,360 Speaker 3: I'm just saying who's anti Bush? 248 00:12:39,400 --> 00:12:44,480 Speaker 1: Here? Go on? No, No, I don't think I said that. 249 00:12:45,200 --> 00:12:48,760 Speaker 1: Allow me to explain why this story is remarkable. It 250 00:12:48,880 --> 00:12:51,880 Speaker 1: is the scale, the scale of it, the fact that 251 00:12:51,960 --> 00:12:55,280 Speaker 1: here in just one week, just seven days, we have 252 00:12:55,360 --> 00:12:59,760 Speaker 1: had two remarkable examples of how the government is bailing 253 00:13:00,160 --> 00:13:02,800 Speaker 1: out the Bush. There are going to be more bank 254 00:13:02,840 --> 00:13:05,560 Speaker 1: branches in the Bush with an increase in funding. This 255 00:13:05,679 --> 00:13:10,840 Speaker 1: is from the Federal Government for Australia posts banking operations. Obviously, 256 00:13:10,880 --> 00:13:13,240 Speaker 1: we've talked a lot about bank at posts in the past, 257 00:13:13,240 --> 00:13:16,640 Speaker 1: and as bank at sign post because I love it. 258 00:13:16,679 --> 00:13:18,800 Speaker 1: I've used it a number of times where you can 259 00:13:18,840 --> 00:13:20,640 Speaker 1: go into the post office and do your banking. And 260 00:13:20,679 --> 00:13:23,800 Speaker 1: currently kind of Commonwealth Bank and NAB and Westpac will 261 00:13:23,840 --> 00:13:27,640 Speaker 1: have a deal for that to happen through these Australia 262 00:13:27,679 --> 00:13:31,880 Speaker 1: Post outlets. Three three hundred post officers have it. Eighteen 263 00:13:32,080 --> 00:13:36,000 Speaker 1: hundred of them are in rural and regional areas right, 264 00:13:36,360 --> 00:13:40,920 Speaker 1: so eighteen hundred rural regional. It emphasizes just how significant 265 00:13:41,000 --> 00:13:46,080 Speaker 1: these services are to those areas withdrawals, deposits, a whole 266 00:13:46,120 --> 00:13:50,520 Speaker 1: bunch of other things. These are key for small businesses. Right, 267 00:13:50,679 --> 00:13:54,599 Speaker 1: small business rely on these services through Australia Posts A 268 00:13:54,720 --> 00:13:58,000 Speaker 1: and z's going to join in. Macquarie and HSBC are 269 00:13:58,000 --> 00:14:01,680 Speaker 1: in negotiation. Why because banks are closing regional branches. We 270 00:14:01,800 --> 00:14:04,120 Speaker 1: know that, and Treasury Jim Chalmers said this week that 271 00:14:04,160 --> 00:14:06,959 Speaker 1: thirty six percent of bank branches in regional Australia have 272 00:14:07,080 --> 00:14:11,040 Speaker 1: closed since twenty seventeen. But it is only the government 273 00:14:11,400 --> 00:14:14,800 Speaker 1: stepping in with extra cash that is providing a solution 274 00:14:14,960 --> 00:14:18,400 Speaker 1: to this and baling out the bush. Example number two. 275 00:14:19,040 --> 00:14:24,280 Speaker 1: Example number two Rex, the collapsed regional airline that went 276 00:14:24,280 --> 00:14:26,280 Speaker 1: into administration last year. It was trying to take on 277 00:14:26,360 --> 00:14:28,880 Speaker 1: Quantas and Virgin on the Golden Triangle failed. We know 278 00:14:28,960 --> 00:14:32,080 Speaker 1: all of that. That's all just background, that's context. Ohose 279 00:14:32,520 --> 00:14:38,160 Speaker 1: millions of dollars. The thing is about Rex. Why do 280 00:14:38,240 --> 00:14:41,200 Speaker 1: you look like that? Sean, No, not in general, why 281 00:14:41,240 --> 00:14:42,600 Speaker 1: do you look like that? But why do you have 282 00:14:42,680 --> 00:14:48,040 Speaker 1: that look on your face? Right about the bush? Oh? 283 00:14:48,600 --> 00:14:58,240 Speaker 1: The thing is Rex has fifty three destinations to which 284 00:14:58,480 --> 00:15:02,480 Speaker 1: it flies and from which it flies. I don't really 285 00:15:02,480 --> 00:15:04,800 Speaker 1: know how the structure that sentence, it goes in and 286 00:15:04,840 --> 00:15:13,920 Speaker 1: out of fifty three destination destinations it is. I think 287 00:15:13,960 --> 00:15:16,560 Speaker 1: it is not too much of a stretch to describe 288 00:15:16,600 --> 00:15:21,200 Speaker 1: it as the aerial lifeblood of Australia. And this week 289 00:15:21,520 --> 00:15:25,720 Speaker 1: the government said what what it was? Too much? 290 00:15:25,920 --> 00:15:28,960 Speaker 3: No no, no, no go, Let's just keep going. 291 00:15:30,000 --> 00:15:33,560 Speaker 1: This week the government said that it would step in 292 00:15:33,600 --> 00:15:37,280 Speaker 1: and buy the airline if a private buyer isn't found. 293 00:15:37,360 --> 00:15:40,800 Speaker 1: That is still the first preference, obviously that some other airlines, 294 00:15:40,840 --> 00:15:42,800 Speaker 1: some other company is going to take it over, but 295 00:15:42,920 --> 00:15:45,800 Speaker 1: it will do it if it needs to. This would 296 00:15:45,880 --> 00:15:50,200 Speaker 1: be the first time since Quantas was privatized that the 297 00:15:50,240 --> 00:15:53,600 Speaker 1: Government would own a stake in an airline. So this 298 00:15:53,680 --> 00:15:56,880 Speaker 1: is the first time in thirty years that the government 299 00:15:56,920 --> 00:16:01,000 Speaker 1: would be doing this. It's a major step back, but 300 00:16:01,120 --> 00:16:04,360 Speaker 1: it would be a big step forward for guaranteeing the 301 00:16:04,400 --> 00:16:08,640 Speaker 1: flow of that aerial lifeblood throughout rural and regional Australia. 302 00:16:08,720 --> 00:16:13,400 Speaker 1: Extreme times call for these extreme measures, the federal government 303 00:16:13,440 --> 00:16:16,480 Speaker 1: stepping into bail out the bush. Brevity is key. I 304 00:16:16,520 --> 00:16:17,120 Speaker 1: am done. 305 00:16:17,600 --> 00:16:18,800 Speaker 3: Can I have a point of order here? 306 00:16:19,480 --> 00:16:19,840 Speaker 2: Please? 307 00:16:19,920 --> 00:16:23,160 Speaker 3: Please? Because that was going on a fair bit. What's 308 00:16:23,200 --> 00:16:25,680 Speaker 3: remarkable about helping the bush? Michael, you who were up 309 00:16:25,720 --> 00:16:28,600 Speaker 3: in the bush, what's remarkable about helping the bush? 310 00:16:28,720 --> 00:16:31,880 Speaker 1: It's remarkable about how much the government needs to be 311 00:16:31,920 --> 00:16:34,240 Speaker 1: doing right now to help the bush because companies are 312 00:16:34,280 --> 00:16:35,240 Speaker 1: giving up on the bush. 313 00:16:36,640 --> 00:16:38,760 Speaker 3: Hold on, what what. 314 00:16:38,680 --> 00:16:39,200 Speaker 2: Do you mean? 315 00:16:39,280 --> 00:16:42,840 Speaker 3: Company? Some of the growth cities in Victoria, southern East 316 00:16:42,880 --> 00:16:45,080 Speaker 3: Southeast Queensland, sort of central. 317 00:16:44,920 --> 00:16:49,800 Speaker 1: Where abandon the bush, Sean, over to you, Rex has 318 00:16:49,840 --> 00:16:54,040 Speaker 1: abandoned the bush unintentionally. So it's just it's it's a 319 00:16:54,080 --> 00:16:55,480 Speaker 1: story of abandonment. Sean. 320 00:16:58,040 --> 00:17:00,440 Speaker 4: I'm just going to go with the spectacle on this one. 321 00:17:00,800 --> 00:17:04,159 Speaker 4: It is pretty rare that you get good policy in 322 00:17:04,200 --> 00:17:05,280 Speaker 4: an election period. 323 00:17:06,160 --> 00:17:10,440 Speaker 1: It's pretty rare that we get good judgments on this show. Sorry, 324 00:17:11,880 --> 00:17:14,120 Speaker 1: something I meant to say inside my head, Well. 325 00:17:14,080 --> 00:17:16,800 Speaker 2: The election period, just roll out the pork barrels. 326 00:17:16,920 --> 00:17:19,879 Speaker 4: Here they come. There's going to be plenty more. So 327 00:17:20,000 --> 00:17:22,919 Speaker 4: I'm just a bit cynical about that. And I'm not 328 00:17:22,960 --> 00:17:29,920 Speaker 4: really for government taking companies and making them public. So 329 00:17:30,200 --> 00:17:32,000 Speaker 4: you know, I don't think that we should be a 330 00:17:32,080 --> 00:17:33,600 Speaker 4: government should be bailing. 331 00:17:33,280 --> 00:17:34,600 Speaker 2: Out companies and buying them. 332 00:17:34,720 --> 00:17:38,359 Speaker 4: But so Sean, I think the story of Kunak and 333 00:17:38,440 --> 00:17:41,679 Speaker 4: Paul Little has to win. Imagine if you put like 334 00:17:42,119 --> 00:17:45,000 Speaker 4: ten times a multiple on your house, its two thousand 335 00:17:45,040 --> 00:17:49,480 Speaker 4: and two, so you know in twenty odd years, twenty 336 00:17:49,520 --> 00:17:52,320 Speaker 4: three years is ten times to what he. 337 00:17:52,320 --> 00:17:52,880 Speaker 1: Paid for it. 338 00:17:53,400 --> 00:17:57,200 Speaker 2: Two hundred meter frontage. It's extraordinary. 339 00:17:57,600 --> 00:18:03,160 Speaker 3: Well I won that, Yeah, yeah, okay, so little a junk. 340 00:18:03,240 --> 00:18:05,080 Speaker 3: We don't know officially that was one hundred and fifty 341 00:18:05,080 --> 00:18:09,120 Speaker 3: million dollars. That's the speculation. Oh for a break. It's 342 00:18:09,160 --> 00:18:18,920 Speaker 3: time for a break. We'll be back in a moment, all. 343 00:18:18,880 --> 00:18:21,560 Speaker 1: Right, Sean. We are looking now for a sleeper story 344 00:18:21,600 --> 00:18:23,960 Speaker 1: of the week. After the various travesties of the first 345 00:18:23,960 --> 00:18:27,800 Speaker 1: half of this show, we are now looking for a quick, clean, 346 00:18:28,200 --> 00:18:32,399 Speaker 1: finish excellent, so sleeper story. Shall I go first? Go 347 00:18:32,480 --> 00:18:34,600 Speaker 1: for it. I don't know whether this is actually a 348 00:18:34,640 --> 00:18:39,800 Speaker 1: good idea for me to go first, because I'm not 349 00:18:39,840 --> 00:18:41,640 Speaker 1: so much sacrificing points here. 350 00:18:42,480 --> 00:18:44,160 Speaker 3: Good start, right. 351 00:18:44,520 --> 00:18:47,200 Speaker 1: I am willing to do so if that is how 352 00:18:47,200 --> 00:18:49,080 Speaker 1: this plays out, and I don't know if it is, 353 00:18:49,359 --> 00:18:51,879 Speaker 1: but I'm willing to do so for the chance to 354 00:18:51,920 --> 00:18:54,240 Speaker 1: say to the boat, to both of you right here 355 00:18:54,400 --> 00:18:56,200 Speaker 1: in the studio, look you in the eyes and say 356 00:18:56,640 --> 00:19:00,879 Speaker 1: I told you so, right, I am a good sport 357 00:19:02,520 --> 00:19:06,600 Speaker 1: because I said so. But but but in. 358 00:19:06,480 --> 00:19:09,680 Speaker 3: October, oh, hold on, go on, curious in October. 359 00:19:10,200 --> 00:19:14,600 Speaker 1: In October last year, I told you, I told you 360 00:19:15,960 --> 00:19:19,240 Speaker 1: that the black market for cigarettes and tobacco was booming. 361 00:19:20,040 --> 00:19:23,040 Speaker 1: And how did I know this? Because I listened to 362 00:19:23,080 --> 00:19:24,880 Speaker 1: fear and greed and because of the line and the. 363 00:19:24,800 --> 00:19:27,600 Speaker 3: Results, Sean, I told you. 364 00:19:27,600 --> 00:19:30,840 Speaker 1: You know what, that's an irrelevant detail, Sean, just Adam, 365 00:19:30,960 --> 00:19:31,880 Speaker 1: don't write that down. 366 00:19:32,280 --> 00:19:32,560 Speaker 2: Sorry. 367 00:19:34,080 --> 00:19:36,760 Speaker 1: It was a line in the results from Viva Energy 368 00:19:37,440 --> 00:19:41,840 Speaker 1: where they commented, right, actually pointed out that the rise 369 00:19:42,000 --> 00:19:46,280 Speaker 1: in illicit tobacco and cigarette sales was harming their business. 370 00:19:46,640 --> 00:19:49,160 Speaker 1: And you know what that was. That was a fuse 371 00:19:49,720 --> 00:19:56,480 Speaker 1: being lit. And this week the story exploded kind of 372 00:19:56,960 --> 00:19:58,160 Speaker 1: loosely a little bit. 373 00:19:58,280 --> 00:20:02,240 Speaker 2: It burned down to the film. 374 00:20:01,359 --> 00:20:04,840 Speaker 1: Yeah, must something happened this week and it was good 375 00:20:05,080 --> 00:20:10,360 Speaker 1: and big and sleep we learned sleeperss yes, very sleepersh 376 00:20:10,680 --> 00:20:14,200 Speaker 1: We learned this week through a freedom of information, that 377 00:20:14,359 --> 00:20:19,080 Speaker 1: Treasury warned that this was going to happen, that there 378 00:20:19,119 --> 00:20:22,000 Speaker 1: was going to be a boom in the black market 379 00:20:22,240 --> 00:20:26,960 Speaker 1: for cigarettes and tobacco when the government increased the tobacco excise, 380 00:20:27,320 --> 00:20:29,760 Speaker 1: So since twenty thirteen it has increased two hundred and 381 00:20:29,760 --> 00:20:32,320 Speaker 1: eighty two percent fifty bucks for a pack of smokes. 382 00:20:32,520 --> 00:20:35,359 Speaker 1: Thirty four dollars of that goes to the government. But 383 00:20:35,600 --> 00:20:39,680 Speaker 1: Treasury warned about the boom. They said, if you keep 384 00:20:39,720 --> 00:20:44,200 Speaker 1: increasing prices like this, the illegal trade will go up. 385 00:20:44,400 --> 00:20:48,080 Speaker 1: People will go to dodgy tobacconists and vapes. I don't 386 00:20:48,080 --> 00:20:51,560 Speaker 1: know where the Treasury actually used the term dodgy tobacconists. 387 00:20:51,600 --> 00:20:53,280 Speaker 1: I'm assuming they probably did, and. 388 00:20:53,359 --> 00:20:55,280 Speaker 3: It would have been dodgy. 389 00:20:55,440 --> 00:20:59,239 Speaker 1: Ye, yeah, dodgy been in. 390 00:21:00,320 --> 00:21:02,480 Speaker 3: Dodgy is not a word you can use, ever, because 391 00:21:02,480 --> 00:21:06,280 Speaker 3: the legal implications of dodgy are such that you don't 392 00:21:06,320 --> 00:21:08,560 Speaker 3: want to use that. Yeah, yeah, totally. So to all 393 00:21:08,600 --> 00:21:10,760 Speaker 3: the tobaccos out there, we withdraw. 394 00:21:12,160 --> 00:21:13,280 Speaker 1: Except to the dodgy ones. 395 00:21:15,640 --> 00:21:16,639 Speaker 3: Go on, go on. 396 00:21:17,080 --> 00:21:25,480 Speaker 1: No, you make a good point, very good it. They said, 397 00:21:25,840 --> 00:21:28,240 Speaker 1: Treasury set of won't increase revenue because everyone's just going 398 00:21:28,320 --> 00:21:31,200 Speaker 1: to get the smoke from somewhere else. And they were right. 399 00:21:32,920 --> 00:21:35,240 Speaker 1: Who else was right? This guy? 400 00:21:35,880 --> 00:21:39,000 Speaker 3: Michael Thompson. So the sleeper part. 401 00:21:39,560 --> 00:21:42,520 Speaker 1: The tobacco XI has provided nine point seven billion dollars 402 00:21:42,560 --> 00:21:45,000 Speaker 1: in revenue last year, down from sixteen point three billion 403 00:21:45,000 --> 00:21:48,119 Speaker 1: dollars in FI twenty twenty. Consider that that is a 404 00:21:48,160 --> 00:21:55,000 Speaker 1: massive what's that six point six billion dollars? Oh God, 405 00:21:55,320 --> 00:21:57,560 Speaker 1: you could see it really trying to figure that out. 406 00:21:57,600 --> 00:22:01,000 Speaker 1: Six point six billion dollars in lost breat That is extraordinary. Sure, 407 00:22:01,080 --> 00:22:03,239 Speaker 1: some people probably quit smoking, but a lot just went 408 00:22:03,280 --> 00:22:04,840 Speaker 1: to the black market. So what do we take from this? 409 00:22:05,040 --> 00:22:07,880 Speaker 1: What is the sleeper component of this? On October twenty five, 410 00:22:08,160 --> 00:22:13,320 Speaker 1: twenty twenty four, I warned of this. Treasury warned of this. 411 00:22:13,640 --> 00:22:17,160 Speaker 1: I won the sleeper story on October twenty five last year, 412 00:22:17,200 --> 00:22:19,879 Speaker 1: so you should have. So you should have. But but 413 00:22:20,200 --> 00:22:22,720 Speaker 1: and this is why I had to bring it up today, 414 00:22:22,760 --> 00:22:25,360 Speaker 1: because that has stayed with me since then, because I 415 00:22:25,440 --> 00:22:29,879 Speaker 1: only won because Adam Lang described it as the less 416 00:22:30,040 --> 00:22:35,800 Speaker 1: worse story on the day. Right today, I am vindicated, 417 00:22:35,960 --> 00:22:41,040 Speaker 1: my Treasury Vin de kay Shin done. I'm out. 418 00:22:41,400 --> 00:22:45,640 Speaker 3: My word. Revenge is served best cold, no doubt about that. 419 00:22:46,080 --> 00:22:47,000 Speaker 1: God, that felt good. 420 00:22:47,040 --> 00:22:49,920 Speaker 3: I'm going to actually give you this proper sleeper story, Adam, Yes, 421 00:22:50,000 --> 00:22:56,239 Speaker 3: please with fear. So During the week, the government and 422 00:22:56,280 --> 00:23:01,159 Speaker 3: the coalition got together, changed election laws, the Special Minister 423 00:23:01,200 --> 00:23:04,400 Speaker 3: of State who is responsible for it. On the government side, 424 00:23:04,400 --> 00:23:06,920 Speaker 3: a guy called Don Farrell. He was holding a press conference. 425 00:23:07,359 --> 00:23:10,840 Speaker 3: Zalie Stegel, who's an Independent in the Northern Beaches in Sydney, 426 00:23:10,920 --> 00:23:14,560 Speaker 3: she came and she interrupted the press conference basically said 427 00:23:14,600 --> 00:23:18,600 Speaker 3: that's bs. The overhaul of the election laws is only 428 00:23:18,680 --> 00:23:22,400 Speaker 3: sort of a little part to the story. Broadly, it 429 00:23:22,480 --> 00:23:25,479 Speaker 3: reduces funding for independent well it has the effect of 430 00:23:25,880 --> 00:23:31,000 Speaker 3: potentially reducing funding for independent candidates, but the public purse 431 00:23:31,200 --> 00:23:33,159 Speaker 3: puts in about one hundred and forty million dollars for 432 00:23:33,240 --> 00:23:37,879 Speaker 3: the major parties. So that's the background to it. He 433 00:23:38,320 --> 00:23:41,280 Speaker 3: was giving the press conference. You know the problem with 434 00:23:41,480 --> 00:23:44,240 Speaker 3: Don Farrell, I always to call him Don Walker col 435 00:23:44,320 --> 00:23:48,440 Speaker 3: Chisel style, and I just in my mind every time 436 00:23:48,600 --> 00:23:53,320 Speaker 3: I'm going to say donal Farrell. Anyway, So she interrupts 437 00:23:53,320 --> 00:23:55,679 Speaker 3: a press conference where the sleeper part of this is 438 00:23:57,000 --> 00:24:02,040 Speaker 3: the Teals and the Independence generally their power is actually 439 00:24:02,240 --> 00:24:05,919 Speaker 3: growing and Zali Stegel has sort of become the leader 440 00:24:06,240 --> 00:24:08,520 Speaker 3: of the Independence Now she's been in Parliament for a 441 00:24:08,560 --> 00:24:11,560 Speaker 3: couple of terms, so I suppose longevity helps there. When 442 00:24:11,640 --> 00:24:14,359 Speaker 3: we have the next federal election due by the middle 443 00:24:14,440 --> 00:24:17,280 Speaker 3: of May seems to be April twelve. Is that a Saturday? 444 00:24:17,680 --> 00:24:20,520 Speaker 3: Someone check if that's a Saturday. I think that seems 445 00:24:20,520 --> 00:24:24,800 Speaker 3: to be the tip for the election. At this point. 446 00:24:25,200 --> 00:24:28,119 Speaker 3: The Tails and the Independence are likely to win seats, 447 00:24:28,160 --> 00:24:31,560 Speaker 3: and it's very possible that it will be minority government, 448 00:24:31,600 --> 00:24:34,000 Speaker 3: probably a labor minority government. That's what the betting markets 449 00:24:34,000 --> 00:24:37,080 Speaker 3: say at the moment. That means that the Don Walker 450 00:24:37,160 --> 00:24:39,600 Speaker 3: slash Don Farrell's of the world a game to have 451 00:24:39,640 --> 00:24:44,639 Speaker 3: to negotiate with the Independence and what this week It 452 00:24:44,800 --> 00:24:48,040 Speaker 3: just showed the power that the Independence could potentially have 453 00:24:48,600 --> 00:24:52,200 Speaker 3: in the next election. So the sleeper part of it was, yeah, 454 00:24:52,240 --> 00:24:56,159 Speaker 3: she interrupted a press conference, But the reality is, whoever 455 00:24:56,160 --> 00:24:59,200 Speaker 3: that wins government next time around, coalition or Labor, they're 456 00:24:59,200 --> 00:25:00,560 Speaker 3: going to have to deal with her, his people and 457 00:25:00,600 --> 00:25:02,680 Speaker 3: the Zales Teackles of the world. No, I just think 458 00:25:02,680 --> 00:25:05,400 Speaker 3: that's quite fascinating. No value judgment just is. 459 00:25:05,960 --> 00:25:07,720 Speaker 1: And what are they going to do about the black market? 460 00:25:07,800 --> 00:25:08,680 Speaker 1: Cigarette shot. 461 00:25:10,080 --> 00:25:14,360 Speaker 3: Crackdown? They better crackdown, certainly a review. 462 00:25:14,440 --> 00:25:19,120 Speaker 1: Considering they've now been warned twice by med Adam judgment. 463 00:25:20,040 --> 00:25:22,639 Speaker 4: Both are really good stories, but only one is actually 464 00:25:22,640 --> 00:25:27,280 Speaker 4: a sleeper, and that is that that happened this week, 465 00:25:27,359 --> 00:25:29,280 Speaker 4: and it does have impact. It's going to have a 466 00:25:29,400 --> 00:25:33,840 Speaker 4: big impact on how this election plays out and elections thereafter. Michael, 467 00:25:33,880 --> 00:25:37,000 Speaker 4: your story is really interesting, but I think the sleepers. 468 00:25:37,080 --> 00:25:39,879 Speaker 3: Great revenge does he gets zero. 469 00:25:42,080 --> 00:25:43,280 Speaker 2: I've given him zero. 470 00:25:43,800 --> 00:25:46,320 Speaker 3: I've told you this story. He's in nineteen ninety six 471 00:25:46,359 --> 00:25:49,200 Speaker 3: Atlanta Olympics and this Australian boat was in the gymnastics 472 00:25:49,520 --> 00:25:52,280 Speaker 3: and this will be very quick, and he's like, and 473 00:25:52,320 --> 00:25:54,560 Speaker 3: you know, I've got a ticket to the gymnastics. Everyone's 474 00:25:54,600 --> 00:25:56,960 Speaker 3: really excited. Well, I was really excited. The Americans didn't 475 00:25:57,440 --> 00:25:59,040 Speaker 3: give two hoots who this boat was. 476 00:25:59,240 --> 00:26:01,080 Speaker 1: Come on, come on, let's go. And he. 477 00:26:02,960 --> 00:26:08,640 Speaker 3: Hits the trampoline. It's the beam and kind of somehow 478 00:26:09,000 --> 00:26:12,720 Speaker 3: gets it wrong, re reaches out, doesn't quite get his 479 00:26:12,800 --> 00:26:17,320 Speaker 3: hand on the beam as such, and just goes flat 480 00:26:17,600 --> 00:26:20,800 Speaker 3: on the ground, and you could there's this moment passed silence, 481 00:26:21,280 --> 00:26:24,240 Speaker 3: and he sort of almost looks up and thinks maybe 482 00:26:24,240 --> 00:26:25,760 Speaker 3: no one saw it. He jumps up and he puts 483 00:26:25,800 --> 00:26:26,600 Speaker 3: his hands in the air. 484 00:26:27,119 --> 00:26:27,320 Speaker 1: Yeah. 485 00:26:27,760 --> 00:26:31,119 Speaker 3: Everyone starts jeering and went to the judges because he 486 00:26:31,160 --> 00:26:34,800 Speaker 3: hadn't touched the beam. It's like zero zero zero. 487 00:26:36,040 --> 00:26:37,720 Speaker 1: Zero, the poor flow. 488 00:26:38,320 --> 00:26:41,879 Speaker 3: So on this basis, Michael, what's it a sleep it zero? 489 00:26:42,160 --> 00:26:42,840 Speaker 3: Let's moving on. 490 00:26:43,280 --> 00:26:45,359 Speaker 1: It was it was never about the points for me, Sean. 491 00:26:46,359 --> 00:26:49,080 Speaker 1: It was all about revenge vindication. 492 00:26:49,680 --> 00:26:53,560 Speaker 3: Now I'll go first. Mine's quick favorite story. 493 00:26:53,680 --> 00:26:53,920 Speaker 1: Yeah. 494 00:26:54,800 --> 00:26:56,040 Speaker 3: I get I'm not going to win it, but I 495 00:26:56,080 --> 00:26:58,680 Speaker 3: don't care. So well, Sunday in the US nothing better 496 00:26:59,040 --> 00:27:04,480 Speaker 3: Monday morning. It was held in New Orleans, not New Orleans, 497 00:27:04,600 --> 00:27:08,679 Speaker 3: Neylon's being played between the Philadelphia Eagles the Kansas City Chiefs. 498 00:27:08,720 --> 00:27:11,040 Speaker 3: The Chiefs were favorites. They were going for the three peat. 499 00:27:11,320 --> 00:27:15,800 Speaker 3: They lost mister Hurtz, who's the quarterback for the Philadelphia Eagles, 500 00:27:15,920 --> 00:27:22,360 Speaker 3: had a cracker. Mister Mahones, the quarterback for the Chiefs, didn't. 501 00:27:23,040 --> 00:27:26,680 Speaker 3: But then again, the defense for the Chiefs didn't play 502 00:27:26,680 --> 00:27:27,120 Speaker 3: so well. 503 00:27:28,040 --> 00:27:28,240 Speaker 1: You know. 504 00:27:28,280 --> 00:27:31,919 Speaker 3: The advertisements, well, they were great, the eight million barks 505 00:27:31,920 --> 00:27:33,280 Speaker 3: for a thirty minute slot. 506 00:27:34,000 --> 00:27:34,880 Speaker 1: Michael. 507 00:27:35,359 --> 00:27:39,280 Speaker 3: I disagreed with your favorite ad though. I actually thought 508 00:27:39,320 --> 00:27:44,680 Speaker 3: that David Beckham, that Damon ad was fantastic genius. I twired, Yeah, 509 00:27:44,680 --> 00:27:47,600 Speaker 3: the still are twired. I actually thought like, because you 510 00:27:47,680 --> 00:27:49,720 Speaker 3: sent those through an in our newsletter during the week, 511 00:27:49,800 --> 00:27:53,040 Speaker 3: you could go through them all. I actually still are twice. 512 00:27:53,080 --> 00:27:54,439 Speaker 3: One was my favorite. 513 00:27:55,680 --> 00:27:58,439 Speaker 1: It was it's good, not great. You know, there was 514 00:27:58,520 --> 00:28:02,439 Speaker 1: none I thought that were great this year. I just 515 00:28:03,240 --> 00:28:07,800 Speaker 1: I want more of the actual laugh out loud moments 516 00:28:07,840 --> 00:28:09,679 Speaker 1: in these ads. And you have to go back to 517 00:28:09,720 --> 00:28:13,440 Speaker 1: the Tide ads of a few years ago to get those, 518 00:28:13,600 --> 00:28:19,000 Speaker 1: and it really it's been a very hard thing to 519 00:28:19,080 --> 00:28:21,680 Speaker 1: try and live up to. So anyway, look I come 520 00:28:21,680 --> 00:28:24,119 Speaker 1: from I'm a very harsh why I'm never the judge 521 00:28:24,160 --> 00:28:26,960 Speaker 1: on this show because everyone will get zero points, so 522 00:28:27,080 --> 00:28:28,119 Speaker 1: that I mean, what. 523 00:28:27,960 --> 00:28:30,040 Speaker 3: What what I thought was amazing those ads is a 524 00:28:30,640 --> 00:28:34,080 Speaker 3: quality that comes through so many superstars in those ads. 525 00:28:34,400 --> 00:28:37,199 Speaker 3: It's just look, it's just fantastic. 526 00:28:37,080 --> 00:28:39,080 Speaker 2: Film budgets and one of them. 527 00:28:39,320 --> 00:28:43,520 Speaker 1: Yeah yeah, staggering, staggering cash. 528 00:28:44,160 --> 00:28:48,240 Speaker 3: You're done, Yeah, I'm done. Okay, great story. Off we 529 00:28:48,320 --> 00:28:49,719 Speaker 3: go itself. 530 00:28:51,680 --> 00:28:56,080 Speaker 1: Big week for Elon Musk, gentlemen, one of these surprise 531 00:28:57,280 --> 00:29:01,200 Speaker 1: one of the stranger press conferences. I think we've seen 532 00:29:01,680 --> 00:29:05,240 Speaker 1: a press conference in the Oval Office. So Elon Musks 533 00:29:05,280 --> 00:29:08,600 Speaker 1: standing there with his with his cap on, next to 534 00:29:09,320 --> 00:29:11,840 Speaker 1: Donald Trump at the is at the resolute desk, the 535 00:29:11,880 --> 00:29:16,000 Speaker 1: big big desk, and he was sitting and Musk is 536 00:29:16,080 --> 00:29:21,200 Speaker 1: standing and then Elon's four year old son, Lil X 537 00:29:22,080 --> 00:29:25,800 Speaker 1: because it's the one with the rather unusual name and 538 00:29:25,800 --> 00:29:28,600 Speaker 1: he's just known as Lil X, was playing between them. 539 00:29:28,640 --> 00:29:31,840 Speaker 1: At one point he actually was up on Elon Musk's 540 00:29:31,840 --> 00:29:34,320 Speaker 1: shoulders kind of while he's there talking about kind of 541 00:29:34,320 --> 00:29:38,320 Speaker 1: cutting billions of dollars out of government programs and departments. 542 00:29:38,680 --> 00:29:41,800 Speaker 1: It was quite extraordinary. He was there defending his efforts 543 00:29:41,800 --> 00:29:44,960 Speaker 1: with DOGE, the Department of Government Efficiency, as in Elon 544 00:29:45,040 --> 00:29:46,920 Speaker 1: Musk was not Little X. He has very little to 545 00:29:46,920 --> 00:29:51,280 Speaker 1: do with cutting spending. He said that like addressing these 546 00:29:51,440 --> 00:29:54,160 Speaker 1: these allegations that he's been overstepping the mark, that they 547 00:29:54,200 --> 00:29:57,280 Speaker 1: are draconian kind of cuts. Now, this is the agency 548 00:29:57,320 --> 00:30:01,280 Speaker 1: that has in recent weeks essentially to the USAID Department. 549 00:30:01,720 --> 00:30:06,160 Speaker 1: One story that came out of the press conference is 550 00:30:06,360 --> 00:30:12,160 Speaker 1: about the fifty the fifty million dollars that was allegedly 551 00:30:13,240 --> 00:30:19,600 Speaker 1: being spent on condoms that we're going to that we're 552 00:30:19,640 --> 00:30:25,680 Speaker 1: going to Hamas in Gaza, and it was wrong, it 553 00:30:25,760 --> 00:30:28,040 Speaker 1: was very wrong. It was not the case at all, 554 00:30:28,400 --> 00:30:30,600 Speaker 1: And there was then kind of reports then that actually 555 00:30:30,640 --> 00:30:36,000 Speaker 1: know what it actually was. There's a Gaza district in Mozambique, 556 00:30:36,240 --> 00:30:39,640 Speaker 1: and that is where the fifty million dollars in condom 557 00:30:39,800 --> 00:30:43,640 Speaker 1: aid is going. And then no, that was also wrong. 558 00:30:43,880 --> 00:30:47,040 Speaker 1: In fact that only eight million dollars last year or 559 00:30:47,040 --> 00:30:50,120 Speaker 1: the year before was spent on condoms globally from the 560 00:30:50,200 --> 00:30:53,080 Speaker 1: USAID budget. So the whole thing is just a shambles. 561 00:30:53,200 --> 00:30:55,440 Speaker 1: The whole thing is just a mess. And you've got 562 00:30:55,480 --> 00:30:58,200 Speaker 1: Elon Musk standing up there in the Oval office saying 563 00:30:59,040 --> 00:31:04,160 Speaker 1: some things I say will be incorrect, which is not 564 00:31:04,200 --> 00:31:06,320 Speaker 1: what you want to hear from the bloke who is 565 00:31:06,360 --> 00:31:11,040 Speaker 1: tasked with cutting billions of dollars and jobs, many many 566 00:31:11,160 --> 00:31:14,760 Speaker 1: jobs out of the US government. You want to get 567 00:31:14,920 --> 00:31:15,680 Speaker 1: it right. 568 00:31:15,760 --> 00:31:17,760 Speaker 3: That condomstry, because he was the one that came up 569 00:31:17,760 --> 00:31:21,200 Speaker 3: with that number, the fifty million dollars from Hamas Gaza. 570 00:31:21,240 --> 00:31:24,400 Speaker 3: That was Elon Musk. He said that, not checking his facts, 571 00:31:24,680 --> 00:31:27,400 Speaker 3: was eight million to Mozambique. 572 00:31:27,280 --> 00:31:30,720 Speaker 1: Yeah, it was just completely wrong anyway, It's just but 573 00:31:30,800 --> 00:31:32,960 Speaker 1: the thing is that just it shows how many hats 574 00:31:32,960 --> 00:31:35,280 Speaker 1: he wears that that he's got this going on. He's 575 00:31:35,320 --> 00:31:37,200 Speaker 1: got everything going on with Tesla, It's got all this 576 00:31:37,480 --> 00:31:40,480 Speaker 1: and at the same time he is leading a consortium 577 00:31:40,520 --> 00:31:43,880 Speaker 1: of investors offering ninety seven billion US dollars to buy 578 00:31:43,920 --> 00:31:47,960 Speaker 1: the nonprofit company that controls open Ai. That also happened this. 579 00:31:47,840 --> 00:31:52,760 Speaker 3: Week Stories in There. Michael Offwigan Big Week mentioned Tesla's 580 00:31:52,760 --> 00:31:55,000 Speaker 3: share price taking a dive this week because of all this. 581 00:31:55,160 --> 00:31:57,080 Speaker 2: Yeah, no, what SpaceX do you? 582 00:31:57,720 --> 00:32:01,720 Speaker 1: We did reporting season. You can buy forty stories into one. 583 00:32:01,800 --> 00:32:05,040 Speaker 1: We just need to cue the music, Sean Team. I 584 00:32:05,080 --> 00:32:08,080 Speaker 1: am done. No, no, no, no, just I'm done. Because the 585 00:32:08,120 --> 00:32:11,160 Speaker 1: boss of open Ai, Sam Oltman, and Elon Musk, they 586 00:32:11,160 --> 00:32:13,400 Speaker 1: do not get on. They founded the company together, they've 587 00:32:13,400 --> 00:32:15,360 Speaker 1: gone their separate ways. They do not get on. My 588 00:32:15,480 --> 00:32:18,000 Speaker 1: favorite part of this was that Oldman rejected the offer 589 00:32:18,320 --> 00:32:21,000 Speaker 1: and he said, no, thank you, but we will buy 590 00:32:21,080 --> 00:32:23,880 Speaker 1: Twitter for nine point seventy four billion dollars if you want. 591 00:32:24,320 --> 00:32:26,560 Speaker 1: And the best part, the best part, the part that 592 00:32:26,600 --> 00:32:28,840 Speaker 1: makes it super savage, was that he actually made the 593 00:32:28,880 --> 00:32:32,320 Speaker 1: offer to Elon Musk on Twitter. It's just like, it's 594 00:32:32,400 --> 00:32:37,080 Speaker 1: just it's it's just it's just great theater. It's fantastic 595 00:32:37,120 --> 00:32:38,840 Speaker 1: to watch. It is my favorite story of the week. 596 00:32:39,080 --> 00:32:41,080 Speaker 2: Adam over to you. 597 00:32:41,280 --> 00:32:45,160 Speaker 4: Super Bowl Sunday is brilliant. Elon Musk, God, he keeps 598 00:32:45,160 --> 00:32:49,120 Speaker 4: giving and just I know it's so so kind of dastardly, 599 00:32:49,200 --> 00:32:51,800 Speaker 4: so many elements of this, but the picture of him 600 00:32:51,840 --> 00:32:54,080 Speaker 4: with his son and Trump at the desk is just 601 00:32:54,160 --> 00:32:57,560 Speaker 4: so incredible to me. It is also my favorite story 602 00:32:57,720 --> 00:32:58,240 Speaker 4: of the week. 603 00:32:58,760 --> 00:33:00,520 Speaker 2: So Michael, you in two all. 604 00:33:01,040 --> 00:33:05,160 Speaker 4: To all follows the points Michael ninety one, sure ninety three. 605 00:33:06,040 --> 00:33:08,080 Speaker 3: I can't believe you got any points for that. 606 00:33:08,280 --> 00:33:13,040 Speaker 1: Ye sleeper story. God anyway, all right, good results. Look, 607 00:33:13,080 --> 00:33:15,200 Speaker 1: I'm happy with that. It's better than I was expecting, 608 00:33:15,240 --> 00:33:17,640 Speaker 1: probably better than I deserved. Thank you very much, Adam, 609 00:33:18,160 --> 00:33:19,880 Speaker 1: thank you, and thank you Sean. 610 00:33:20,200 --> 00:33:20,800 Speaker 3: Thanks Michael. 611 00:33:21,080 --> 00:33:23,120 Speaker 1: Make sure you're following the podcast, and please join us 612 00:33:23,120 --> 00:33:26,840 Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook, them X. I'm Michael Thompson. 613 00:33:26,880 --> 00:33:28,960 Speaker 1: And that was fear and Greed. Have a great weekend.