1 00:00:06,160 --> 00:00:08,559 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,600 --> 00:00:11,080 Speaker 1: business news for people who make their own decisions. I'm 3 00:00:11,080 --> 00:00:13,399 Speaker 1: Michael Thompson, and good morning, Sean Aylmer. 4 00:00:13,560 --> 00:00:15,480 Speaker 2: Good morning, Michael, Sean. 5 00:00:15,520 --> 00:00:17,360 Speaker 1: Our weekend show is all about the two of us, 6 00:00:17,360 --> 00:00:20,200 Speaker 1: each nominating what we think is the biggest business story 7 00:00:20,239 --> 00:00:23,960 Speaker 1: of the week, the most remarkable business story, a sleeper story, 8 00:00:24,000 --> 00:00:25,840 Speaker 1: which is of course a story that is flying under 9 00:00:25,840 --> 00:00:29,080 Speaker 1: the radar somewhat, and then our favorite business adjacent story. 10 00:00:29,120 --> 00:00:31,280 Speaker 1: It is a competition, and so every week we are 11 00:00:31,400 --> 00:00:34,360 Speaker 1: joined in the studio by a judge to pick a winner. 12 00:00:34,400 --> 00:00:37,800 Speaker 1: And that judge, as always, is our Fear and Greed colleague, 13 00:00:37,840 --> 00:00:40,479 Speaker 1: Adam Lange. Adam, good morning, Good morning Michael. 14 00:00:40,960 --> 00:00:44,520 Speaker 2: Now we've upgraded our studio in the last week or something, 15 00:00:45,159 --> 00:00:50,400 Speaker 2: so we're doing full on video, full video of Adam Lane. 16 00:00:51,920 --> 00:00:54,319 Speaker 2: People out there, go to our Instagram account. You can 17 00:00:54,360 --> 00:00:56,080 Speaker 2: see the great men himself. 18 00:00:56,320 --> 00:00:59,000 Speaker 1: Yeah, and just look how comfortable he is with so 19 00:00:59,040 --> 00:01:02,640 Speaker 1: many cameras on him. Adam, let's put it to the 20 00:01:02,680 --> 00:01:06,320 Speaker 1: test in just fifteen seconds, because today is all about brevity. 21 00:01:07,080 --> 00:01:10,560 Speaker 1: Can you tell us what you're looking for in today's stories? 22 00:01:10,560 --> 00:01:12,160 Speaker 1: What are your criteria for judging. 23 00:01:12,480 --> 00:01:17,280 Speaker 3: Okay, topicality, we want timeliness obviously, stories with economic impact, 24 00:01:17,720 --> 00:01:20,679 Speaker 3: something that plays into my subjective bias, which you both 25 00:01:20,760 --> 00:01:24,720 Speaker 3: know well. And of course, Michael, your strong suit melodrama. 26 00:01:24,840 --> 00:01:27,360 Speaker 2: See, I'm not sure that we do know what your 27 00:01:27,360 --> 00:01:28,480 Speaker 2: subjective bias is. 28 00:01:29,280 --> 00:01:30,520 Speaker 1: It does change work. 29 00:01:31,840 --> 00:01:34,240 Speaker 2: Subjective, I suppose today I'm a little giddy. 30 00:01:34,319 --> 00:01:38,160 Speaker 3: I mean, this is an incredible studio. What an environment. 31 00:01:38,280 --> 00:01:39,240 Speaker 1: It's very fancy. 32 00:01:39,319 --> 00:01:39,759 Speaker 3: Wow. 33 00:01:39,880 --> 00:01:43,039 Speaker 1: We will try not to soil it with bad sportsmanship. Okay, 34 00:01:43,280 --> 00:01:45,840 Speaker 1: we'll do it best, all right. Today, the focus, as 35 00:01:45,840 --> 00:01:47,440 Speaker 1: I said, is all about brevity. We're going to get 36 00:01:47,440 --> 00:01:49,360 Speaker 1: this done. I've put myself in charge of watching the 37 00:01:49,400 --> 00:01:52,080 Speaker 1: clock to make sure it has done quickly, which seems 38 00:01:52,160 --> 00:01:54,880 Speaker 1: very dangerous, doesn't it to put myself in charge when 39 00:01:54,920 --> 00:01:58,320 Speaker 1: I'm occasionally the one responsible for going over biggest story 40 00:01:58,360 --> 00:01:58,840 Speaker 1: of the week. 41 00:01:59,320 --> 00:02:02,680 Speaker 2: Michael, you for it. I'm going giving you first DIBs 42 00:02:02,800 --> 00:02:03,040 Speaker 2: on it. 43 00:02:03,840 --> 00:02:06,640 Speaker 1: Well you should, because there is only one story this 44 00:02:06,720 --> 00:02:10,440 Speaker 1: week that people actually care about. It's interest rates. 45 00:02:10,480 --> 00:02:10,960 Speaker 2: That's mine. 46 00:02:11,040 --> 00:02:15,760 Speaker 1: Oh oh dear, this is complicated. No no, no, no, 47 00:02:15,800 --> 00:02:17,639 Speaker 1: there's no conflict. Well, there is conflict. That's the whole 48 00:02:17,680 --> 00:02:19,400 Speaker 1: point of this show is to have conflicts. But the 49 00:02:19,400 --> 00:02:22,160 Speaker 1: one story that everyone's actually talking about this week is 50 00:02:22,320 --> 00:02:26,840 Speaker 1: interest rates. On Tuesday afternoon, the Reserve Bank Board reduced 51 00:02:26,880 --> 00:02:30,040 Speaker 1: the official cash rate by twenty five basis points. I 52 00:02:30,200 --> 00:02:32,800 Speaker 1: wasn't surprised, Sean. Were you surprised when it happened? 53 00:02:33,760 --> 00:02:35,400 Speaker 2: What I want to know, Like, we're talking to our 54 00:02:35,400 --> 00:02:38,639 Speaker 2: social media expert Rosanna after this happened. I don't think 55 00:02:38,680 --> 00:02:40,880 Speaker 2: she mentioned interest rates once. So you started the show 56 00:02:40,960 --> 00:02:43,359 Speaker 2: by saying, everyone's talking about interest rates. I don't think 57 00:02:43,680 --> 00:02:45,480 Speaker 2: Rosanna mentioned everyone minus one. 58 00:02:45,600 --> 00:02:49,359 Speaker 1: Everyone Rosanna talked about it. Really, Yes, and Rosannah wasn't 59 00:02:49,360 --> 00:02:54,240 Speaker 1: surprised either, Adam, were you surprised? It's unanimous, but it 60 00:02:54,320 --> 00:02:58,200 Speaker 1: is your biggest news story of the week because it happened. 61 00:02:58,760 --> 00:03:02,280 Speaker 2: But but here we go, here we go. 62 00:03:02,919 --> 00:03:03,639 Speaker 3: Two butts. 63 00:03:03,960 --> 00:03:07,840 Speaker 1: But everybody had tipped it. We know that everyone had 64 00:03:07,880 --> 00:03:11,639 Speaker 1: called for it, from from business leaders to politicians, every 65 00:03:11,639 --> 00:03:15,920 Speaker 1: economist basically on the planet. Certainly all the economists at 66 00:03:15,919 --> 00:03:18,240 Speaker 1: the banks had all been calling for it. So there 67 00:03:18,320 --> 00:03:21,119 Speaker 1: was no surprise that there was this right cut. But 68 00:03:21,280 --> 00:03:26,520 Speaker 1: what was surprising was that I don't like the faces 69 00:03:26,560 --> 00:03:26,880 Speaker 1: you pulled. 70 00:03:26,919 --> 00:03:29,880 Speaker 2: What I'm doing? What I'm quite amazed here is that 71 00:03:29,960 --> 00:03:32,799 Speaker 2: Michael has found an audience of one. So this new 72 00:03:32,880 --> 00:03:37,840 Speaker 2: studio he is actually he has his back to me. 73 00:03:38,000 --> 00:03:40,960 Speaker 1: I'm not here to convince you. I don't care what 74 00:03:41,080 --> 00:03:42,720 Speaker 1: you think. I care what Adam thinks. 75 00:03:42,800 --> 00:03:47,400 Speaker 3: I feel respect between adversaries is a good thing. At 76 00:03:47,440 --> 00:03:48,200 Speaker 3: him occasionally. 77 00:03:48,920 --> 00:03:49,520 Speaker 1: Is that enough? 78 00:03:50,960 --> 00:03:51,400 Speaker 2: Is that long? 79 00:03:51,760 --> 00:03:54,560 Speaker 1: Is that enough eye contact for you, Sean before things 80 00:03:54,600 --> 00:03:58,520 Speaker 1: get creepy, I'm going back to Adam. Adam, I know 81 00:03:58,560 --> 00:04:02,600 Speaker 1: I've made this much much worse, very very very uncomfortable 82 00:04:02,640 --> 00:04:06,880 Speaker 1: in the studio very quickly. The commentary, right, was the 83 00:04:06,920 --> 00:04:11,760 Speaker 1: surprising part. Okay, everyone expected the interest rate cut, no 84 00:04:11,840 --> 00:04:16,040 Speaker 1: one expected what Reserve Bank governor Michelle bullocks. I shouldn't 85 00:04:16,080 --> 00:04:18,520 Speaker 1: point my finger at you, but I'm really passionate about this. 86 00:04:20,360 --> 00:04:24,640 Speaker 1: Michelle Bullock afterwards made comments that made it sound an 87 00:04:24,680 --> 00:04:28,960 Speaker 1: awful lot like the Reserve Bank did this begrudgingly, didn't 88 00:04:28,960 --> 00:04:32,560 Speaker 1: want to do it. They cited, of course, the improvement 89 00:04:32,640 --> 00:04:37,400 Speaker 1: in inflation data. But but but Michelle Bullock was at 90 00:04:37,480 --> 00:04:41,719 Speaker 1: pains to point out that inflation still isn't where it 91 00:04:41,760 --> 00:04:44,680 Speaker 1: needs to be sustainably, that the labor market is still 92 00:04:44,720 --> 00:04:48,160 Speaker 1: very strong, which was illustrated then on Thursday by the 93 00:04:48,240 --> 00:04:53,440 Speaker 1: unemployment data that showed that so many jobs, thousands upon 94 00:04:53,560 --> 00:04:58,480 Speaker 1: thousands upon thousands of jobs were created last month. Incredible 95 00:04:58,520 --> 00:05:02,400 Speaker 1: time for in Australia. So the employment market is very strong. 96 00:05:02,640 --> 00:05:04,640 Speaker 1: If the job of a central bank is the US 97 00:05:04,720 --> 00:05:08,880 Speaker 1: FED chair declared decades ago, right, just and you taught 98 00:05:08,960 --> 00:05:09,880 Speaker 1: us all about this, Sean. 99 00:05:09,920 --> 00:05:10,120 Speaker 2: See. 100 00:05:10,120 --> 00:05:11,640 Speaker 1: I looked at him. That's enough, right, I gave him 101 00:05:11,640 --> 00:05:14,080 Speaker 1: a quick, little kind of glance. That's enough you've had. 102 00:05:14,120 --> 00:05:18,920 Speaker 1: Yours is to take the punch bowl away just when 103 00:05:18,920 --> 00:05:20,920 Speaker 1: the party gets going. That was, of course, talking about 104 00:05:20,920 --> 00:05:22,800 Speaker 1: putting the brakes on the economy, kind of just as 105 00:05:22,839 --> 00:05:26,440 Speaker 1: things start to heat up. Well, well, I reckon. Michelle 106 00:05:26,480 --> 00:05:28,719 Speaker 1: Bullock took that to heart, the spirit of being a 107 00:05:28,760 --> 00:05:33,080 Speaker 1: party pooper, right, because because everyone was just starting to 108 00:05:33,120 --> 00:05:36,920 Speaker 1: celebrate on Tuesday afternoon, the Reserve Bank has cut rates. 109 00:05:37,000 --> 00:05:39,560 Speaker 1: Everyone's excited, everyone's expecting it to be the first of 110 00:05:39,600 --> 00:05:41,799 Speaker 1: a number of cuts. All the big four banks passed 111 00:05:41,800 --> 00:05:44,599 Speaker 1: it on. Within fifteen minutes. The party poppers were out, 112 00:05:44,839 --> 00:05:47,640 Speaker 1: the champagne was out, the punch bowl was out, and 113 00:05:47,680 --> 00:05:51,000 Speaker 1: Michelle Bullok just snatched it away and she said, don't 114 00:05:51,000 --> 00:05:54,240 Speaker 1: get your hopes up. There may not be anymore. It's 115 00:05:54,279 --> 00:05:57,800 Speaker 1: a short term boost, but without a doubt, the biggest 116 00:05:58,120 --> 00:06:06,799 Speaker 1: business story of the week, Brevity finished, I have finished. 117 00:06:06,839 --> 00:06:09,320 Speaker 1: I got a little bit carried away. But I mean 118 00:06:09,320 --> 00:06:13,360 Speaker 1: it's justifiable because it's the biggest story. You were very 119 00:06:13,440 --> 00:06:16,560 Speaker 1: quite that whole time, very respectful, so ag. 120 00:06:16,440 --> 00:06:19,160 Speaker 2: At the end of the day that came out. Even 121 00:06:19,200 --> 00:06:22,360 Speaker 2: Michelle Bullock said, every little bit helps, Like every little bit. 122 00:06:22,920 --> 00:06:25,719 Speaker 2: There wasn't much in it, was there twenty five basis 123 00:06:25,720 --> 00:06:29,039 Speaker 2: points one hundred bucks if you've got half a million dollar, 124 00:06:29,279 --> 00:06:32,159 Speaker 2: I mean half a million dollar mortgage, hundred bucks a month. 125 00:06:32,279 --> 00:06:35,360 Speaker 2: So absolutely nothing going on there, Michael, nothing going on 126 00:06:35,400 --> 00:06:38,640 Speaker 2: the big story of the week. However, no rebuttals, no rebuttals. 127 00:06:38,640 --> 00:06:41,720 Speaker 1: My fingers hovering over your microphone, I will turn you off. 128 00:06:41,839 --> 00:06:44,520 Speaker 2: Okay, the Trump stuff matters this week. It matters every week, 129 00:06:44,560 --> 00:06:49,120 Speaker 2: but this week it really really matters two big things 130 00:06:49,440 --> 00:06:54,760 Speaker 2: which actually will change the course of history. Mel Drama. 131 00:06:55,240 --> 00:06:58,279 Speaker 1: Maybe you've got to actually say it and believe it. 132 00:06:58,320 --> 00:07:02,240 Speaker 2: Though. This is big, this is big. Euro there we 133 00:07:02,320 --> 00:07:05,360 Speaker 2: go to the US. The world has changed this week. 134 00:07:05,400 --> 00:07:09,240 Speaker 2: Donald Trump came out. He slammed the Ukrainian President Vladimir 135 00:07:09,440 --> 00:07:13,080 Speaker 2: Zelensky as a dictator without elections. He falsely claimed Kiev 136 00:07:13,400 --> 00:07:16,920 Speaker 2: has started the Russian War. Ironic really, because we've been 137 00:07:16,920 --> 00:07:18,320 Speaker 2: watching this for a couple of years now and no 138 00:07:18,320 --> 00:07:21,480 Speaker 2: one actually thought that Kiev started the Russian War except 139 00:07:21,480 --> 00:07:24,360 Speaker 2: for the US president. He incorrectly stated that Zelenski's approval 140 00:07:24,440 --> 00:07:27,000 Speaker 2: rating was down to four percent, actually about fifty six percent. 141 00:07:27,600 --> 00:07:31,720 Speaker 2: He ridiculed the idea of Kiev even being involved in 142 00:07:31,760 --> 00:07:37,280 Speaker 2: peace negotiations about Ukraine. IRONI can imagine that Australia's war 143 00:07:37,360 --> 00:07:39,840 Speaker 2: and Camra wasn't allowed to be in peace negotiation. It's 144 00:07:40,000 --> 00:07:45,600 Speaker 2: the equivalent. What it did, though, was coalesce. Most of Europe, 145 00:07:45,960 --> 00:07:48,240 Speaker 2: certainly the big two Germany and UK have come out 146 00:07:48,240 --> 00:07:50,720 Speaker 2: and said no, that's not what we believe. Donald Trump 147 00:07:50,760 --> 00:07:53,360 Speaker 2: is incorrect in that we even had people like Richard 148 00:07:53,400 --> 00:07:55,720 Speaker 2: Miles in Australia and Peter Dutton the opposition leader, to 149 00:07:55,800 --> 00:07:59,000 Speaker 2: come out and say now, Donald Trump is actually wrong, 150 00:07:59,000 --> 00:08:01,480 Speaker 2: and that this is the first week that we've really 151 00:08:01,560 --> 00:08:06,480 Speaker 2: seen geographies band together and say no, no, no. Donald 152 00:08:06,520 --> 00:08:09,240 Speaker 2: Trump stopped stamping on us. The second thing he did 153 00:08:09,240 --> 00:08:12,480 Speaker 2: this week, twenty five percent tarists, talking about car semiconducted chips, 154 00:08:12,520 --> 00:08:14,960 Speaker 2: pharmaceutical imports. It looks like he will do it that 155 00:08:15,000 --> 00:08:19,800 Speaker 2: will hit Australian pharmaceutical experts, for example. Twenty five percent 156 00:08:19,960 --> 00:08:22,760 Speaker 2: is pretty significant. You know what's interesting. I was reading 157 00:08:22,760 --> 00:08:24,600 Speaker 2: this thing from kuy called Thomas Friedman, who writes in 158 00:08:24,600 --> 00:08:26,640 Speaker 2: the New York Times, and he was saying, did you know, 159 00:08:27,080 --> 00:08:32,760 Speaker 2: no one, no one country can build an iPhone, So 160 00:08:33,040 --> 00:08:37,040 Speaker 2: the Americans can't build an iPhone without inputs from other countries. 161 00:08:37,480 --> 00:08:41,040 Speaker 2: It might be the commodities, it might be the intellection 162 00:08:41,160 --> 00:08:43,760 Speaker 2: of mouse, all that sort of stuff. And that's why 163 00:08:43,760 --> 00:08:46,840 Speaker 2: he said tariffs don't work in global trade because no 164 00:08:46,880 --> 00:08:49,120 Speaker 2: one can actually build an iPhone, no one country. And 165 00:08:49,160 --> 00:08:52,760 Speaker 2: it was a really great way of explaining what tariffs 166 00:08:52,800 --> 00:08:55,959 Speaker 2: do to global trade. Anyway, twenty five percent really big. 167 00:08:56,000 --> 00:08:58,199 Speaker 2: And the fact that what Trump did today was coalesce, 168 00:08:58,880 --> 00:09:03,600 Speaker 2: you know, communities against him, huge story actually has impact 169 00:09:03,720 --> 00:09:05,640 Speaker 2: as opposed to the couple of bucks we're going to say. 170 00:09:06,000 --> 00:09:08,600 Speaker 1: And you had you had jd Vance as well, got 171 00:09:08,640 --> 00:09:11,320 Speaker 1: kind of Europe offside from the beginning of the week, 172 00:09:11,320 --> 00:09:13,120 Speaker 1: didn't he when he marched in there and told them 173 00:09:13,480 --> 00:09:15,160 Speaker 1: and intervened in domestic. 174 00:09:14,800 --> 00:09:17,840 Speaker 2: Germany, talked about the far right in Germany and no 175 00:09:18,160 --> 00:09:20,439 Speaker 2: country in the last one hundred years has a worse 176 00:09:20,720 --> 00:09:23,559 Speaker 2: history in far right politics in Germany. And he came 177 00:09:23,640 --> 00:09:24,560 Speaker 2: and said, I mean. 178 00:09:24,600 --> 00:09:25,640 Speaker 1: You need to engagageous. 179 00:09:25,760 --> 00:09:28,520 Speaker 2: Yeah. Anyway, So Michael's conceded one night. 180 00:09:28,520 --> 00:09:30,640 Speaker 1: I have not conceded. I've just tried to boost your 181 00:09:30,640 --> 00:09:32,480 Speaker 1: story into a competitive space. 182 00:09:33,280 --> 00:09:36,599 Speaker 3: Oh gosh, then I'm going to disappoint you both, Michael wins. 183 00:09:37,520 --> 00:09:38,960 Speaker 1: I don't think anyone's disappointed by it. 184 00:09:39,360 --> 00:09:41,760 Speaker 3: Pocket win of one hundred bucks a month. I know 185 00:09:41,880 --> 00:09:44,319 Speaker 3: it's the beginning, but imagine if it went the other way, 186 00:09:44,360 --> 00:09:45,880 Speaker 3: and how profound the disappointment. 187 00:09:46,240 --> 00:09:48,040 Speaker 1: Did it goin the other way, But imagine if it did. 188 00:09:48,200 --> 00:09:49,200 Speaker 1: Imagine if it did. 189 00:09:49,240 --> 00:09:51,000 Speaker 3: So the fact that last? 190 00:09:51,120 --> 00:09:54,840 Speaker 2: What's the point here, Adam November last Rise, twenty two, 191 00:09:56,040 --> 00:09:57,920 Speaker 2: So I might even sure you know what you're talking 192 00:09:57,920 --> 00:09:58,440 Speaker 2: about here? 193 00:09:58,520 --> 00:10:04,640 Speaker 1: He does? How dare you? This man here is an 194 00:10:04,760 --> 00:10:08,319 Speaker 1: honorable judge. He has done his best for this country. 195 00:10:08,559 --> 00:10:09,559 Speaker 3: Let's see where this goes. 196 00:10:10,040 --> 00:10:13,320 Speaker 1: This is good, Michael, thank you, Adam. Great judging today, 197 00:10:14,080 --> 00:10:19,199 Speaker 1: one nil most remarkable story. Sean, would you like to 198 00:10:19,240 --> 00:10:19,920 Speaker 1: say fast. 199 00:10:19,840 --> 00:10:21,760 Speaker 2: Us I have a story that actually matters to people. 200 00:10:22,360 --> 00:10:23,320 Speaker 2: Is that relevant to you? 201 00:10:23,840 --> 00:10:25,120 Speaker 1: It will not matter at all. 202 00:10:25,280 --> 00:10:30,280 Speaker 2: It won't matter matters now, Okay, go for it. Okay. 203 00:10:30,400 --> 00:10:33,240 Speaker 2: What's remarkable are some of the results that we've seen 204 00:10:33,280 --> 00:10:35,120 Speaker 2: this week, and I'm going to pick some of the 205 00:10:35,200 --> 00:10:39,240 Speaker 2: highlights and impact what it means for us, Adam, right, 206 00:10:39,960 --> 00:10:44,760 Speaker 2: for Michael, for me, for you, as opposed to the 207 00:10:44,840 --> 00:10:46,960 Speaker 2: garbage that's going to come out of Michael's mouth, whatever 208 00:10:47,000 --> 00:10:47,560 Speaker 2: that's going to be. 209 00:10:49,240 --> 00:10:51,640 Speaker 1: That's quite harsh, but also fair. 210 00:10:52,800 --> 00:10:55,480 Speaker 2: The property company is really interesting this week. So Goodman 211 00:10:55,520 --> 00:10:58,400 Speaker 2: Group came out. That's the Big Kahuna or the Big Daddy. 212 00:10:58,440 --> 00:10:59,600 Speaker 2: You can call it whatever you want. 213 00:10:59,760 --> 00:11:04,240 Speaker 1: No, No, you were banned in the studio earlier this week. 214 00:11:04,640 --> 00:11:06,559 Speaker 1: You were banned from using the term big Daddy. 215 00:11:06,600 --> 00:11:08,800 Speaker 2: Okay, So Goodman Group came out. The Big Daddy came out. 216 00:11:08,920 --> 00:11:12,200 Speaker 2: Did a massive capital arrays going into data centers, Vicinity, 217 00:11:12,760 --> 00:11:16,160 Speaker 2: QVB building, chadsten More, going to be a shortage of 218 00:11:16,200 --> 00:11:20,120 Speaker 2: retail outlets, Dexas mervack lend Lee's would return to work 219 00:11:20,160 --> 00:11:23,800 Speaker 2: trend is real. The office guys are doing better. Transurban 220 00:11:23,880 --> 00:11:26,480 Speaker 2: came out. More tolls being paid because people are going 221 00:11:26,480 --> 00:11:30,360 Speaker 2: back to the office really interesting. The residentially is still struggling. 222 00:11:30,400 --> 00:11:33,319 Speaker 2: See the upshot of that is residential struggling, But a 223 00:11:33,320 --> 00:11:36,880 Speaker 2: lot of those other commercial property crowds are doing really well. 224 00:11:36,960 --> 00:11:42,199 Speaker 2: Kbe iag results reported results, pretty good results, but they 225 00:11:42,240 --> 00:11:45,000 Speaker 2: got sold off afterwards, mostly because there's not a lot 226 00:11:45,200 --> 00:11:49,200 Speaker 2: of growth in premiums. Not so good for shareholder, it's 227 00:11:49,200 --> 00:11:52,200 Speaker 2: good for us. That means, Adam, you're you know, at 228 00:11:52,200 --> 00:11:54,600 Speaker 2: the cost of your house insurance, your car insurance won't 229 00:11:54,679 --> 00:11:58,640 Speaker 2: rise as much this year. Rio and Fortes Fu Metals 230 00:11:58,640 --> 00:12:01,480 Speaker 2: came out struggling with weak's economy. Lower price of iron 231 00:12:01,559 --> 00:12:04,640 Speaker 2: or BHP is a bit the same. Obviously, begp's heading 232 00:12:04,679 --> 00:12:09,760 Speaker 2: towards copper Woodside Santos disappointed Telstra Telstra going big into mobiles. 233 00:12:09,960 --> 00:12:12,320 Speaker 2: You know that share price jumped four five percent on 234 00:12:12,400 --> 00:12:12,880 Speaker 2: that day. 235 00:12:13,080 --> 00:12:13,880 Speaker 1: Are you counting? 236 00:12:14,200 --> 00:12:18,079 Speaker 2: Where's Farmers? Bunning's doing well and co at kmart doing well. 237 00:12:18,120 --> 00:12:21,480 Speaker 2: Guzmani game as well. They came out and got absolutely 238 00:12:21,559 --> 00:12:24,360 Speaker 2: hammered on Friday. This is a travesself of ten percent. 239 00:12:24,600 --> 00:12:27,520 Speaker 2: Shout out to Gil mcgoughlin, Adam, what's your favorite sport? 240 00:12:28,840 --> 00:12:32,160 Speaker 2: There you go? Shout out to gil mcgoughlin, former head 241 00:12:32,160 --> 00:12:34,200 Speaker 2: of the AFL, seems to have done a very good 242 00:12:34,280 --> 00:12:37,720 Speaker 2: job at tab Corps special mention to mineral resources probably 243 00:12:37,720 --> 00:12:39,960 Speaker 2: the worst of the week, eight hundred million dollar loss 244 00:12:40,200 --> 00:12:42,600 Speaker 2: needs next to three hundred million dollars to upgrade its 245 00:12:42,720 --> 00:12:46,040 Speaker 2: road and its new onslow iron ore project in Western Australia. 246 00:12:46,080 --> 00:12:47,640 Speaker 2: What's cool about that is the fact that they have 247 00:12:48,120 --> 00:12:54,040 Speaker 2: triple trailer trucks on this trail, three hundred and thirty 248 00:12:54,800 --> 00:12:57,959 Speaker 2: tons of iron or eat of them, and they wonder 249 00:12:58,000 --> 00:13:02,200 Speaker 2: why there are accidents. Are you done? Yeah, I'm done, 250 00:13:02,280 --> 00:13:05,080 Speaker 2: Michael giving you something really interesting. 251 00:13:05,280 --> 00:13:10,000 Speaker 1: You gave us many things, the remarkables before I begin. 252 00:13:10,640 --> 00:13:16,840 Speaker 1: Two objections if I made please Adam, who got your pen? Handy? Okay? 253 00:13:16,920 --> 00:13:17,360 Speaker 1: Number one? 254 00:13:17,480 --> 00:13:19,040 Speaker 2: Brevity is everything? Go on? 255 00:13:19,200 --> 00:13:22,079 Speaker 1: That's right. And I'm not the person who just did 256 00:13:22,800 --> 00:13:29,880 Speaker 1: fourteen stories in one fourteen discreete stories bundled into one. 257 00:13:30,080 --> 00:13:33,760 Speaker 2: Talk about value for the listener. Adam, give me bonus points. 258 00:13:33,720 --> 00:13:35,320 Speaker 3: No supermarket of choice. 259 00:13:35,360 --> 00:13:38,160 Speaker 1: It isn't spectacularly good. It was an omnibus. 260 00:13:38,320 --> 00:13:41,120 Speaker 2: There's a band, one of the great on one of 261 00:13:41,160 --> 00:13:43,360 Speaker 2: the great Alma Buses of all time. 262 00:13:43,559 --> 00:13:46,520 Speaker 1: The Alma Bus that's it writing that one down, and 263 00:13:46,559 --> 00:13:48,439 Speaker 1: the other objection was just a minor one. He continued 264 00:13:48,440 --> 00:13:51,040 Speaker 1: to use the term big daddy, So he does deserve 265 00:13:51,160 --> 00:13:53,439 Speaker 1: to be demerited for that one. 266 00:13:53,720 --> 00:13:56,240 Speaker 2: Can I say, Adam that it was actually Michael's brother 267 00:13:56,960 --> 00:14:00,800 Speaker 2: who messaged during the week to say, do not let 268 00:14:00,840 --> 00:14:03,800 Speaker 2: Sean say big daddy again. It's a Thompson. 269 00:14:04,679 --> 00:14:07,840 Speaker 1: Yeah, it's because he said, I got the message from 270 00:14:07,840 --> 00:14:10,920 Speaker 1: Andy and he says, from now on, you must refer 271 00:14:11,000 --> 00:14:14,240 Speaker 1: to Sean only as big Daddy. I said, I can 272 00:14:14,280 --> 00:14:18,439 Speaker 1: safely assure you I will never never refer to him 273 00:14:18,440 --> 00:14:22,240 Speaker 1: as big daddy. Anyway. That's a weird kind of little 274 00:14:22,240 --> 00:14:24,720 Speaker 1: segue into my most remarkable story it has been. 275 00:14:25,720 --> 00:14:27,440 Speaker 2: It's gonna be interesting. It's gonna be interesting. 276 00:14:27,480 --> 00:14:31,840 Speaker 1: It's gonna be one story. Sean tell me a massive, 277 00:14:33,240 --> 00:14:39,240 Speaker 1: massive week in federal politics. What a killer. 278 00:14:42,120 --> 00:14:42,480 Speaker 2: Camera. 279 00:14:45,120 --> 00:14:49,240 Speaker 1: That was me getting audibly fed up with the nonsense 280 00:14:49,280 --> 00:14:52,520 Speaker 1: coming from my left. That's what that was. I'm turning 281 00:14:52,560 --> 00:14:53,280 Speaker 1: away from him. 282 00:14:53,440 --> 00:14:55,320 Speaker 2: He's much more of a right man when it comes 283 00:14:55,320 --> 00:14:56,760 Speaker 2: to politics. So that's what he's just said. 284 00:14:57,040 --> 00:15:01,080 Speaker 1: Let me tell you about what's happened this week, learned friends, 285 00:15:01,640 --> 00:15:05,840 Speaker 1: the polls mister speaker, the polls, Mister speaker, it does 286 00:15:05,920 --> 00:15:08,760 Speaker 1: feel very natural to say that now the polls are 287 00:15:08,800 --> 00:15:15,440 Speaker 1: showing an increasing likelihood of minority government. Prime Minister Anthony. 288 00:15:14,760 --> 00:15:15,440 Speaker 2: We didn't know that. 289 00:15:15,920 --> 00:15:24,640 Speaker 1: Go on, pipe down, big daddy. Prime Minister Anthony Albanezi 290 00:15:24,840 --> 00:15:30,160 Speaker 1: is on the nose right. His approval rating, as we 291 00:15:30,240 --> 00:15:33,880 Speaker 1: learned this week, has plummeted, and Peter Dunton has well 292 00:15:34,080 --> 00:15:37,000 Speaker 1: and truly got the Coalition back in the race, not 293 00:15:37,080 --> 00:15:40,360 Speaker 1: quite enough to win majority government and to the independence. 294 00:15:40,400 --> 00:15:42,880 Speaker 1: As we talked last week, they will, based on the 295 00:15:42,920 --> 00:15:45,040 Speaker 1: polls this week, be the king makers after the election, 296 00:15:45,120 --> 00:15:46,880 Speaker 1: et cetera, et cetera. All interesting, but. 297 00:15:47,480 --> 00:15:49,640 Speaker 2: It doesn't sound very interesting when you go et cetera, 298 00:15:49,680 --> 00:15:50,120 Speaker 2: et cetera. 299 00:15:50,640 --> 00:15:53,240 Speaker 1: Yes, but I said it was interesting. Therefore it is oh, 300 00:15:53,880 --> 00:15:55,600 Speaker 1: I'm allowed to be the judge of that and write 301 00:15:55,600 --> 00:15:58,560 Speaker 1: that down. Write these things down, actually, Adam, A couple 302 00:15:58,640 --> 00:16:01,000 Speaker 1: of interesting things to mention, A couple of things that 303 00:16:01,040 --> 00:16:04,240 Speaker 1: went in Labour's favor this week that will have a 304 00:16:04,320 --> 00:16:07,040 Speaker 1: political impact. The interest rate cut. 305 00:16:07,120 --> 00:16:09,000 Speaker 2: Hold on, hold on, you can't use that as part 306 00:16:09,000 --> 00:16:10,720 Speaker 2: of your second so you've already got marks for the 307 00:16:10,720 --> 00:16:11,280 Speaker 2: first story. 308 00:16:11,400 --> 00:16:16,800 Speaker 1: Watch me interest rate cut a huge boost as we 309 00:16:16,880 --> 00:16:19,720 Speaker 1: discussed the biggest story of the week, Adam, as we agreed, 310 00:16:19,760 --> 00:16:23,120 Speaker 1: you and I huge boosts of the government because it 311 00:16:23,160 --> 00:16:25,560 Speaker 1: looks like cost of living relief helping to kind of 312 00:16:25,720 --> 00:16:29,120 Speaker 1: cancel out that as a campaign issue. Then that the 313 00:16:29,160 --> 00:16:30,200 Speaker 1: Colition would be able. 314 00:16:30,080 --> 00:16:32,040 Speaker 2: To try get the government to Michael's notes in front 315 00:16:32,080 --> 00:16:34,720 Speaker 2: of me, because we share a thing here. 316 00:16:34,600 --> 00:16:36,480 Speaker 1: Just a couple of end points so that we don't 317 00:16:36,520 --> 00:16:37,000 Speaker 1: double up. 318 00:16:37,080 --> 00:16:38,760 Speaker 2: It's just the key points that we don't double up. 319 00:16:38,880 --> 00:16:41,120 Speaker 2: I just want you to know, judging from the notes, 320 00:16:41,240 --> 00:16:43,520 Speaker 2: he's a third of the way through his story only 321 00:16:43,560 --> 00:16:44,560 Speaker 2: at this point. 322 00:16:44,920 --> 00:16:48,640 Speaker 1: Fifteen seconds and I will finish this thing. Let me 323 00:16:48,680 --> 00:16:51,520 Speaker 1: tell you one more here we go the dispute with 324 00:16:51,840 --> 00:16:56,240 Speaker 1: train drivers in Sydney that was threatening to spill over 325 00:16:56,360 --> 00:17:00,600 Speaker 1: and become a federal issue for labor, that has been 326 00:17:00,600 --> 00:17:03,680 Speaker 1: put on hold by the Fairwork Commission until July. Very 327 00:17:03,840 --> 00:17:06,840 Speaker 1: very convenient right for the federal government. 328 00:17:06,840 --> 00:17:08,359 Speaker 2: What's that got to do with your story with you? 329 00:17:08,880 --> 00:17:12,040 Speaker 1: Because these are things that have happened since the po Okay, 330 00:17:12,080 --> 00:17:13,919 Speaker 1: no stop, okay, I'm going to explain this to you. 331 00:17:14,400 --> 00:17:16,760 Speaker 1: Since the beginning of the week, when we saw that 332 00:17:16,880 --> 00:17:19,360 Speaker 1: labor was in trouble, Anthony ALBERONIZI was in. 333 00:17:19,280 --> 00:17:21,520 Speaker 2: Trouble the seconds from when you said fifteen. 334 00:17:21,720 --> 00:17:24,240 Speaker 1: There have been a number of things that have potentially 335 00:17:24,320 --> 00:17:29,399 Speaker 1: turned it around, right Anger number one, interest rates number 336 00:17:29,440 --> 00:17:39,719 Speaker 1: two trained back to you, Adam number three. Clive Palmer, Okay, 337 00:17:40,800 --> 00:17:44,840 Speaker 1: he's back. As we learned this week, he is no 338 00:17:44,920 --> 00:17:48,280 Speaker 1: longer back with Palmer United. He can't use that party 339 00:17:48,440 --> 00:17:52,120 Speaker 1: name anymore, so he has instead opted. 340 00:17:51,880 --> 00:17:56,480 Speaker 3: For trying to get through it. 341 00:17:56,760 --> 00:18:00,720 Speaker 1: The Trumpet of Patriots, which just roll off the tongue 342 00:18:00,840 --> 00:18:03,320 Speaker 1: like it just it feels like the kind of thing 343 00:18:03,359 --> 00:18:05,600 Speaker 1: that you can feel yourself voting for. I'm going to 344 00:18:05,640 --> 00:18:09,080 Speaker 1: going to vote for the Trumpet of Patriots. It's a 345 00:18:09,960 --> 00:18:12,520 Speaker 1: the logo of which, if you haven't seen it, is 346 00:18:13,600 --> 00:18:18,320 Speaker 1: naturally a trumpet being blown by a lion, which is 347 00:18:18,480 --> 00:18:21,640 Speaker 1: one of the kind of nature's great kind of synergies trumpets. 348 00:18:23,320 --> 00:18:24,240 Speaker 2: I've seen it in the world. 349 00:18:24,320 --> 00:18:28,199 Speaker 1: It happens. It's actually their mating calls. Yeah, that's a 350 00:18:28,240 --> 00:18:32,440 Speaker 1: B sharp I'm there. No, I don't know, I don't 351 00:18:32,440 --> 00:18:34,360 Speaker 1: know it. Can you get a B sharp on a trumpet? 352 00:18:34,119 --> 00:18:39,119 Speaker 1: I'm not a trumpeter, but anyway, is modeling it on 353 00:18:39,160 --> 00:18:42,399 Speaker 1: the Trump playbook. In terms of policies, we can stand 354 00:18:42,400 --> 00:18:45,680 Speaker 1: by Adam, particularly in the media industry, for millions upon 355 00:18:45,760 --> 00:18:49,160 Speaker 1: millions upon millions of dollars being spent by Clive Palmer 356 00:18:50,000 --> 00:18:52,639 Speaker 1: between now and the election, which is great news for 357 00:18:52,680 --> 00:18:54,919 Speaker 1: those struggling media companies, perhaps not for the rest of us. 358 00:18:54,960 --> 00:18:59,280 Speaker 1: That is remarkable the week that we have had in 359 00:18:59,359 --> 00:19:00,000 Speaker 1: federal policy. 360 00:19:01,000 --> 00:19:04,200 Speaker 2: So from the time you said fifteen seconds, it's literally 361 00:19:04,240 --> 00:19:05,920 Speaker 2: two minutes ten seconds. 362 00:19:06,080 --> 00:19:09,320 Speaker 1: Most of that was because you interrupted me once. So 363 00:19:09,480 --> 00:19:13,000 Speaker 1: one single interruption was enough to derail me much likely 364 00:19:13,080 --> 00:19:13,960 Speaker 1: train drivers struck. 365 00:19:14,080 --> 00:19:16,320 Speaker 2: It's like having an argument with your partner where you 366 00:19:16,400 --> 00:19:19,320 Speaker 2: know it's your partner's fault, but somehow, by the end 367 00:19:19,320 --> 00:19:22,439 Speaker 2: of the conversation it's actually your fault. Yeah, you know 368 00:19:22,600 --> 00:19:23,639 Speaker 2: that's what you've just doneder me. 369 00:19:24,680 --> 00:19:27,159 Speaker 1: Yeah, my intervention and that was enough. Then it was 370 00:19:27,200 --> 00:19:27,879 Speaker 1: all your fault. 371 00:19:28,119 --> 00:19:30,359 Speaker 3: Yes, Well, that intervention was to suggest that Sean had 372 00:19:30,400 --> 00:19:33,280 Speaker 3: gone too far by the number of stories hit included, 373 00:19:33,840 --> 00:19:36,399 Speaker 3: and then you, in turn, i think, beat him for 374 00:19:36,440 --> 00:19:37,560 Speaker 3: the number of stories. 375 00:19:37,320 --> 00:19:39,879 Speaker 1: In one single story. Politics. 376 00:19:40,920 --> 00:19:45,640 Speaker 2: There's a little sub component Sean wins, I'm liking you more. 377 00:19:45,840 --> 00:19:47,040 Speaker 1: We've had a little. 378 00:19:46,720 --> 00:19:49,119 Speaker 3: Bit of a gap on this one. I'm afraid, Michael. 379 00:19:49,160 --> 00:19:51,600 Speaker 3: Look all very interesting in the world of politics. Not 380 00:19:51,920 --> 00:19:54,560 Speaker 3: in the face of it, I think remarkable. But some 381 00:19:54,640 --> 00:19:57,240 Speaker 3: of these company results are remarkable and what they tell 382 00:19:57,280 --> 00:19:59,480 Speaker 3: us about what's happening at the cold face of consumers 383 00:19:59,480 --> 00:19:59,879 Speaker 3: and business. 384 00:20:00,640 --> 00:20:06,960 Speaker 2: Absolutely remember, yes, yes, yes, yes, I beg to difference. 385 00:20:07,119 --> 00:20:15,080 Speaker 1: No, you know what, I graciously accept the decision. It 386 00:20:15,160 --> 00:20:16,760 Speaker 1: is one. All will take a quick break and come 387 00:20:16,800 --> 00:20:27,480 Speaker 1: back with a sleeper story of the week. All right, 388 00:20:27,560 --> 00:20:29,560 Speaker 1: we are looking for the sleeper story of the week now. 389 00:20:29,600 --> 00:20:31,600 Speaker 1: The sleeper story is, of course, one that's flying under 390 00:20:31,600 --> 00:20:33,600 Speaker 1: the radar a little bit, or that is going to 391 00:20:33,640 --> 00:20:35,440 Speaker 1: become a bigger story further down the track, in which 392 00:20:35,440 --> 00:20:37,880 Speaker 1: case the fuse was lit on that story this week. 393 00:20:37,920 --> 00:20:40,480 Speaker 1: I've got no idea which category mine I actually no, 394 00:20:40,520 --> 00:20:42,840 Speaker 1: I do know which category mine falls into. It falls 395 00:20:42,840 --> 00:20:44,960 Speaker 1: into the category of a story that is just not 396 00:20:44,960 --> 00:20:47,159 Speaker 1: getting the attention that it deserves and it needs to 397 00:20:47,160 --> 00:20:49,879 Speaker 1: be getting more. And that is why I'm doing it 398 00:20:49,920 --> 00:20:55,400 Speaker 1: now to lend it this platform. The It's actually one 399 00:20:55,400 --> 00:20:59,240 Speaker 1: from markets and it's one that that Sean pointed Financial Markets, 400 00:20:59,560 --> 00:21:02,040 Speaker 1: that Shawn pointed out through the way Michael Thompson. That's right, 401 00:21:02,119 --> 00:21:05,439 Speaker 1: Sean pointed out through the week and Adam when he 402 00:21:05,560 --> 00:21:08,520 Speaker 1: said it, I'm like, oh, that is a fascinating story. 403 00:21:08,520 --> 00:21:10,400 Speaker 1: And this is one I suspect that not a lot 404 00:21:10,440 --> 00:21:12,440 Speaker 1: of people have been focusing on because it's just been 405 00:21:12,520 --> 00:21:15,680 Speaker 1: so much noise. There's been so much discussion throughout the 406 00:21:15,680 --> 00:21:18,080 Speaker 1: week of all of these results. As you say before, Adam, 407 00:21:18,080 --> 00:21:20,120 Speaker 1: there have been some remarkable results through the week. 408 00:21:20,320 --> 00:21:21,120 Speaker 2: But while all this. 409 00:21:21,119 --> 00:21:26,600 Speaker 1: Has been going on, everyone's looking over here. But over 410 00:21:26,640 --> 00:21:33,720 Speaker 1: the course single butt, what what. 411 00:21:31,400 --> 00:21:35,200 Speaker 2: What if we could harness your energy in these stories, 412 00:21:35,440 --> 00:21:36,760 Speaker 2: we could power this studio. 413 00:21:37,359 --> 00:21:40,280 Speaker 1: It's renewable too, Like I just keep on coming back 414 00:21:40,320 --> 00:21:43,240 Speaker 1: and doing it again. I am a renewable energy source. 415 00:21:43,560 --> 00:21:46,560 Speaker 2: Go on. We haven't got the story yet, I don't think. 416 00:21:47,480 --> 00:21:49,080 Speaker 1: And even as I was doing it, I was thinking, 417 00:21:49,119 --> 00:21:52,120 Speaker 1: I'm like, I haven't said anything worthwhile yet, but I've 418 00:21:52,160 --> 00:21:59,280 Speaker 1: still enjoyed my okay, over the course of a week 419 00:21:59,680 --> 00:22:05,520 Speaker 1: at it. This is staggering the banking index down something 420 00:22:05,720 --> 00:22:11,360 Speaker 1: like ten percent, ten percent. 421 00:22:11,520 --> 00:22:14,840 Speaker 2: You even's done yourself. I know what you're saying. 422 00:22:16,480 --> 00:22:19,679 Speaker 1: No, I was pausing the words. I was pausing for 423 00:22:19,760 --> 00:22:22,479 Speaker 1: impact Okay. I was trying to let the words sink in. 424 00:22:22,760 --> 00:22:23,800 Speaker 1: And I could also. 425 00:22:23,600 --> 00:22:26,159 Speaker 2: See hoping someone would interject and explain I was. 426 00:22:29,040 --> 00:22:31,199 Speaker 1: A banking reporter. And yes, what Michael said is actually 427 00:22:31,280 --> 00:22:35,760 Speaker 1: very very significant. It is true. All of the majors 428 00:22:36,000 --> 00:22:40,560 Speaker 1: have been sold off through the week. Write it down. 429 00:22:40,960 --> 00:22:43,359 Speaker 1: I could just see, just like when when Adam stands 430 00:22:43,359 --> 00:22:45,480 Speaker 1: out with his hands behind his back, You're gone. There 431 00:22:45,520 --> 00:22:47,640 Speaker 1: is no greater consult to. 432 00:22:47,640 --> 00:22:50,480 Speaker 2: Yoursel that is that is the equivalent of him. 433 00:22:52,520 --> 00:22:56,360 Speaker 1: Yeah, it's a visual anyway, all of the majors sold off. 434 00:22:56,400 --> 00:22:58,119 Speaker 1: There was a good set of numbers last week from 435 00:22:58,160 --> 00:23:01,560 Speaker 1: Commonwealth Bank, but Westpac disappoint pointed, as did NAB even 436 00:23:01,600 --> 00:23:04,320 Speaker 1: Bendigo and Adelaide Bank disappointed. And as Sean you have 437 00:23:04,440 --> 00:23:07,399 Speaker 1: been telling us through the were you mouthing things behind 438 00:23:07,440 --> 00:23:07,800 Speaker 1: my back? 439 00:23:08,520 --> 00:23:10,720 Speaker 2: I was saying you better say ain z as well, 440 00:23:10,760 --> 00:23:13,000 Speaker 2: because they reported too. I was trying to help you 441 00:23:13,080 --> 00:23:14,119 Speaker 2: out and you miss them. 442 00:23:15,240 --> 00:23:17,800 Speaker 1: I left them out of my notes. It's because of 443 00:23:17,880 --> 00:23:22,760 Speaker 1: the U two anyway. Of course, as you've told us, Sean, 444 00:23:23,160 --> 00:23:26,119 Speaker 1: I'm in a mood now. The banks have been priced 445 00:23:26,119 --> 00:23:28,640 Speaker 1: to perfection. Any negativity is going to hit them hard 446 00:23:28,640 --> 00:23:30,560 Speaker 1: and of course, with A and Z also reporting a 447 00:23:30,600 --> 00:23:33,280 Speaker 1: substandard set of numbers as well, which I was going 448 00:23:33,280 --> 00:23:34,840 Speaker 1: to mention them. I just didn't get to them yet. 449 00:23:34,880 --> 00:23:40,440 Speaker 1: So eat it the like, what was it ten percent 450 00:23:40,560 --> 00:23:43,320 Speaker 1: or so for the week? That is significant and nobody 451 00:23:43,400 --> 00:23:46,760 Speaker 1: is talking about it. And it matters, Adam, It matters 452 00:23:46,960 --> 00:23:49,920 Speaker 1: significantly because we all hold bank stocks for our super 453 00:23:49,960 --> 00:23:53,280 Speaker 1: et cetera, and they've been performing so strongly for so 454 00:23:53,560 --> 00:24:00,280 Speaker 1: long now, and this week, this week that did. 455 00:24:02,160 --> 00:24:04,840 Speaker 2: Now my only comment on that excellent, excellent work. Yeah, 456 00:24:05,040 --> 00:24:07,720 Speaker 2: great space time. My only comment was based on the 457 00:24:07,760 --> 00:24:10,000 Speaker 2: fact that the actual share marker dropped this week on 458 00:24:10,040 --> 00:24:12,680 Speaker 2: the back of the ten percent nine point whatever it is. Yeah, 459 00:24:12,680 --> 00:24:14,879 Speaker 2: they're drop in the banking index. Probably a lot of 460 00:24:14,880 --> 00:24:15,760 Speaker 2: people knew about it. 461 00:24:16,160 --> 00:24:19,840 Speaker 1: No, well no, no, they didn't realize why did the market fall? 462 00:24:20,560 --> 00:24:23,359 Speaker 1: I guess it's a mystery. Well, I'm here to explain it. 463 00:24:23,840 --> 00:24:25,880 Speaker 1: Shine the little kind of spotlight on that. 464 00:24:25,960 --> 00:24:30,800 Speaker 2: So my sleeper story is an interesting trend that we 465 00:24:30,880 --> 00:24:36,960 Speaker 2: saw this week out of governments. Now, governments probably want 466 00:24:36,960 --> 00:24:40,080 Speaker 2: to run a mile from being compared to Donald Trump. However, 467 00:24:40,240 --> 00:24:42,760 Speaker 2: this week we saw a bit of trump Ism in 468 00:24:42,840 --> 00:24:47,480 Speaker 2: Australia the South Australian government and federal government combined to 469 00:24:47,680 --> 00:24:50,040 Speaker 2: agree to pony up two point four billion dollars to 470 00:24:50,080 --> 00:24:52,439 Speaker 2: upgrade the Wyalace Steel Works. The idea is that they 471 00:24:52,520 --> 00:24:55,080 Speaker 2: want to sell it and if they need a buyer, 472 00:24:55,320 --> 00:24:57,080 Speaker 2: and what they do need a buyer, they want to 473 00:24:57,080 --> 00:24:59,600 Speaker 2: convince the buyer that it's on a sustainable part. So 474 00:24:59,680 --> 00:25:02,800 Speaker 2: they go to install an electric arc furnace to replace 475 00:25:02,800 --> 00:25:06,199 Speaker 2: the aging qualified blast furnace. FEDS are putting in a 476 00:25:06,200 --> 00:25:09,000 Speaker 2: billion dollars South Australia six hundred million dollars. There's all 477 00:25:09,000 --> 00:25:12,439 Speaker 2: sorts of discussion about the fact that they're scrapping in 478 00:25:12,480 --> 00:25:15,919 Speaker 2: South Australia, scrapping plans to build a green hydrogen plant 479 00:25:16,000 --> 00:25:20,960 Speaker 2: at Wyala. What's really interesting in this is government intervention 480 00:25:21,680 --> 00:25:27,280 Speaker 2: at the highest level. So forget Rex. Michael gave us 481 00:25:27,280 --> 00:25:30,520 Speaker 2: some bumpkin last week about Rex. I think he won 482 00:25:30,600 --> 00:25:34,520 Speaker 2: the category Forget Rex. We're talking two point four billion 483 00:25:34,960 --> 00:25:41,159 Speaker 2: dollars here on on one city. Now, admittedly this is 484 00:25:41,200 --> 00:25:44,640 Speaker 2: a major city in that state. It employs the still 485 00:25:44,640 --> 00:25:47,280 Speaker 2: works generally I think employs about three thousand people, so 486 00:25:47,440 --> 00:25:51,679 Speaker 2: very very relevant. But the FEDS in South Australia are 487 00:25:51,720 --> 00:25:54,919 Speaker 2: prepared to put in two point four billion dollars to 488 00:25:55,040 --> 00:25:57,720 Speaker 2: rescue it. Now. I wonder whether they would have done 489 00:25:57,800 --> 00:26:01,920 Speaker 2: this in a non Trump world maybe, but I think 490 00:26:01,920 --> 00:26:06,320 Speaker 2: they've been emboldened by the idea that if the US 491 00:26:06,400 --> 00:26:09,879 Speaker 2: is throwing stuff into manufacturing in his own country and 492 00:26:09,920 --> 00:26:12,479 Speaker 2: putting tariffs and things like that, then Australia has to 493 00:26:12,480 --> 00:26:15,760 Speaker 2: do something about that. So the sleeper part of this 494 00:26:15,880 --> 00:26:18,120 Speaker 2: is just the reaction of the government to the collapse 495 00:26:18,240 --> 00:26:19,800 Speaker 2: of the Whaler Steel Works. 496 00:26:20,200 --> 00:26:23,160 Speaker 1: Of course they would have done it anyway though, Yeah, 497 00:26:23,200 --> 00:26:27,440 Speaker 1: that many jobs, that many jobs. Not sure I reckon 498 00:26:27,480 --> 00:26:28,080 Speaker 1: they would have. 499 00:26:28,240 --> 00:26:29,919 Speaker 2: So Whale has been on his knees now for a 500 00:26:29,920 --> 00:26:32,200 Speaker 2: few years and he is on the back of the 501 00:26:32,280 --> 00:26:37,199 Speaker 2: Sanjeeve Gupta in Greensill. It's his financier going broke. But 502 00:26:38,400 --> 00:26:42,400 Speaker 2: even before that, like if he hadn't rescued Whyaler, I'm 503 00:26:42,400 --> 00:26:45,080 Speaker 2: not sure it'll still be going. Yeah, so it was 504 00:26:45,119 --> 00:26:45,640 Speaker 2: in adute. 505 00:26:45,680 --> 00:26:47,719 Speaker 1: I was at twenty sixteen, was in an administration. 506 00:26:47,800 --> 00:26:53,280 Speaker 2: Yeah, quarterbat hmm, adam a decent, sensible story. I'm just 507 00:26:53,440 --> 00:26:55,040 Speaker 2: sensible story versus Michael. 508 00:26:55,440 --> 00:26:57,879 Speaker 1: Thank you for pointing out that I just helped his story. 509 00:26:57,960 --> 00:26:59,679 Speaker 1: You know what, I did. I filled in the gaps. 510 00:27:00,640 --> 00:27:02,960 Speaker 1: We help each other out here, don't we shot like 511 00:27:03,040 --> 00:27:08,359 Speaker 1: where you were whispering and said in the background, and 512 00:27:08,440 --> 00:27:09,240 Speaker 1: I felt I had. 513 00:27:09,080 --> 00:27:12,000 Speaker 2: To return Adam so Sewan. 514 00:27:12,040 --> 00:27:15,320 Speaker 3: As you regularly point out, share prices are an expression 515 00:27:15,359 --> 00:27:18,960 Speaker 3: of expectation of future profits, right, So the banks have 516 00:27:19,000 --> 00:27:21,959 Speaker 3: had a monster run, incredible run, and we saw that 517 00:27:22,000 --> 00:27:22,600 Speaker 3: come to an end. 518 00:27:22,720 --> 00:27:24,199 Speaker 1: I think not a good sign that he started with. 519 00:27:25,640 --> 00:27:27,240 Speaker 2: That's not a good sign for. 520 00:27:27,359 --> 00:27:29,479 Speaker 3: Future profits are going to be difficult to be at 521 00:27:29,480 --> 00:27:32,680 Speaker 3: that level again, to perfection, price to perfection. 522 00:27:32,760 --> 00:27:34,520 Speaker 2: I think Michael used that phrase. 523 00:27:34,520 --> 00:27:38,560 Speaker 3: Did indeed used it twice. So it looks good story. 524 00:27:39,000 --> 00:27:40,800 Speaker 3: But I think we've seen this one coming for a 525 00:27:40,840 --> 00:27:41,440 Speaker 3: while and. 526 00:27:41,400 --> 00:27:42,600 Speaker 1: Then it actually happened. 527 00:27:42,640 --> 00:27:45,639 Speaker 3: Therefore it's yeah, I know, but all the results are 528 00:27:45,680 --> 00:27:48,119 Speaker 3: in the past, whereas this this is a real change, 529 00:27:48,119 --> 00:27:49,560 Speaker 3: the nationalization of assets. 530 00:27:49,600 --> 00:27:52,760 Speaker 2: Basically, it's exactly exactly what I was. 531 00:27:53,480 --> 00:27:56,800 Speaker 1: How is it a sleeper story? How was that a sleeper? 532 00:27:56,880 --> 00:28:00,240 Speaker 1: It was like front page news. It's billions of dollars story. 533 00:28:00,119 --> 00:28:01,720 Speaker 2: Isn't The reaction is from the government. 534 00:28:01,800 --> 00:28:04,159 Speaker 3: Yeah, the government, state and federal have not invested like 535 00:28:04,240 --> 00:28:07,440 Speaker 3: this for some time, and for good reason because private markets. 536 00:28:07,040 --> 00:28:10,240 Speaker 2: Were you went on Rex, I went on Wyler is not. 537 00:28:10,280 --> 00:28:13,840 Speaker 1: A sleeper story, which is that I think it is? 538 00:28:13,920 --> 00:28:18,160 Speaker 2: To thank you, Adam, except. 539 00:28:17,800 --> 00:28:19,640 Speaker 1: This, I'm going to go for a draw here. 540 00:28:20,560 --> 00:28:21,800 Speaker 2: Favorite story? Can I go first? 541 00:28:21,960 --> 00:28:23,560 Speaker 1: You're living on you must go first? 542 00:28:23,640 --> 00:28:26,320 Speaker 2: While you're playing someone in a like monopoly and they 543 00:28:26,440 --> 00:28:28,640 Speaker 2: just get so upset and they refuse to throw. 544 00:28:28,440 --> 00:28:30,360 Speaker 1: Their turn and park lane again. 545 00:28:30,480 --> 00:28:32,639 Speaker 2: Yeah, it's that sort of stuff, right, Just you just 546 00:28:32,680 --> 00:28:35,040 Speaker 2: ignore them, You just go through, keep going. 547 00:28:34,920 --> 00:28:36,720 Speaker 1: Like that dummy spit that you had that day. 548 00:28:37,040 --> 00:28:41,960 Speaker 2: So, Adam, my favorite story, I'm not. 549 00:28:41,920 --> 00:28:44,200 Speaker 3: Doing economics for the rest of the year. 550 00:28:44,800 --> 00:28:47,960 Speaker 1: Yeah, that's kind of set the benchmark for dummy spits. 551 00:28:48,640 --> 00:28:52,120 Speaker 1: He held it though, what was it six months worth 552 00:28:52,120 --> 00:28:53,880 Speaker 1: of put himself on an economics ban? 553 00:28:54,240 --> 00:28:55,840 Speaker 2: I know, but it was unfair on the listeners because 554 00:28:55,840 --> 00:28:57,880 Speaker 2: then Michael had to do economics for six months. 555 00:28:58,080 --> 00:28:59,400 Speaker 1: But didn't we all learn a lot? 556 00:29:00,680 --> 00:29:03,960 Speaker 2: We heard? Learned much? Have we heard a lot? My 557 00:29:04,040 --> 00:29:08,360 Speaker 2: favorite story? Right, Adam? One for you. Middle management no 558 00:29:08,400 --> 00:29:10,120 Speaker 2: longer has sex appeal? 559 00:29:11,640 --> 00:29:12,240 Speaker 3: Did they ever? 560 00:29:12,280 --> 00:29:17,960 Speaker 2: Though? Well? I thought the cardigans, the pocket protect the 561 00:29:18,000 --> 00:29:19,800 Speaker 2: pastel colors, definitely they were. 562 00:29:20,400 --> 00:29:22,720 Speaker 1: If you call him big daddy. Now I'm out of here. 563 00:29:23,360 --> 00:29:24,440 Speaker 1: This is just getting gross. 564 00:29:24,480 --> 00:29:28,880 Speaker 2: So this is a survey by recruiter Robert Walters about 565 00:29:29,280 --> 00:29:34,520 Speaker 2: how people thought about middle management and jen Za's jen 566 00:29:34,640 --> 00:29:39,000 Speaker 2: Z's in their twenties now early thirties. Yep, that's in 567 00:29:39,080 --> 00:29:41,920 Speaker 2: the crowd, right. They thought being a middle manager was 568 00:29:41,920 --> 00:29:46,840 Speaker 2: a thank loss slog. They said that why would you 569 00:29:46,960 --> 00:29:51,160 Speaker 2: do it? High stress, lay reward, and in fact it 570 00:29:51,240 --> 00:29:55,960 Speaker 2: is no longer sexy, which brings me to comments from 571 00:29:56,040 --> 00:30:00,520 Speaker 2: JP Morgan boss Jamie diamond who was talking about jen 572 00:30:00,800 --> 00:30:06,280 Speaker 2: Za's or Zoomers as he called them, right and in 573 00:30:06,360 --> 00:30:09,160 Speaker 2: a leak report to The Wall Street Journal, he complained 574 00:30:09,240 --> 00:30:12,840 Speaker 2: about all this slow decision making going on, phone calls 575 00:30:12,960 --> 00:30:16,240 Speaker 2: going unanswered, young recruits being left behind due to work 576 00:30:16,240 --> 00:30:18,840 Speaker 2: from home. You pointed out, Michael, could you imagine if 577 00:30:19,560 --> 00:30:22,239 Speaker 2: you're someone a JP Morgan and Jamie Diamonds and came 578 00:30:22,360 --> 00:30:25,080 Speaker 2: up on your phone, you go, I'm gaming. I talked 579 00:30:25,080 --> 00:30:25,719 Speaker 2: to him later on. 580 00:30:26,440 --> 00:30:27,320 Speaker 1: It's just not going to happen. 581 00:30:27,320 --> 00:30:29,960 Speaker 2: I don't think it's going to happen. He criticized zomers 582 00:30:30,320 --> 00:30:32,520 Speaker 2: for spending all of their time on the video app 583 00:30:32,600 --> 00:30:35,920 Speaker 2: Zoom instead of physical officers and then, and I quite 584 00:30:35,920 --> 00:30:38,240 Speaker 2: and I apologize for the accident, but I gotta have 585 00:30:38,240 --> 00:30:41,360 Speaker 2: a go. Don't give me this shit that work from 586 00:30:41,360 --> 00:30:44,160 Speaker 2: home Friday works. I call a lot of people on 587 00:30:44,200 --> 00:30:47,000 Speaker 2: Fridays and there's not a guard damn person you can 588 00:30:47,040 --> 00:30:47,840 Speaker 2: get ahold of. 589 00:30:49,200 --> 00:30:52,440 Speaker 1: Go Jamie, would you please penalize him just for that? 590 00:30:52,560 --> 00:31:01,040 Speaker 2: No, that is the big Daddy of global banking. Gene me, damon, 591 00:31:01,520 --> 00:31:01,840 Speaker 2: he is. 592 00:31:02,760 --> 00:31:07,920 Speaker 1: I am in hell right now, Michael is above meal. 593 00:31:08,040 --> 00:31:11,160 Speaker 2: Managers aren't sexy. That should be remarkable. That should be 594 00:31:11,200 --> 00:31:14,600 Speaker 2: in the remarkable category. And that quote from Jamie Diamond, 595 00:31:14,600 --> 00:31:17,600 Speaker 2: one of the greats, your favorite story, Michael. 596 00:31:22,200 --> 00:31:25,720 Speaker 1: That but I've got to applaud the melodrama just then. 597 00:31:25,760 --> 00:31:33,200 Speaker 1: That was commitment just then. But however, I'm going to 598 00:31:33,320 --> 00:31:37,240 Speaker 1: call it right now, Adam. 599 00:31:36,320 --> 00:31:40,880 Speaker 2: Probably something about let us this thing about this No. 600 00:31:41,000 --> 00:31:48,000 Speaker 1: Twenty twenty five is the year that we start at 601 00:31:48,120 --> 00:31:53,720 Speaker 1: last paying attention to the sky. It's been there for 602 00:31:53,720 --> 00:31:57,000 Speaker 1: a long time. We've known that it's there, but now 603 00:31:57,120 --> 00:32:01,880 Speaker 1: we are realizing just how dangerous it can be. I'm talking, 604 00:32:02,160 --> 00:32:08,280 Speaker 1: of course, about space debris and air traffic crowding and 605 00:32:08,360 --> 00:32:10,960 Speaker 1: air taxis. I'm going to combine three stories into one 606 00:32:11,000 --> 00:32:13,600 Speaker 1: here I do apologize in advance we. 607 00:32:13,720 --> 00:32:16,560 Speaker 2: Had I feel you've taken the energy out of the room. 608 00:32:17,520 --> 00:32:19,440 Speaker 1: Did you know how dangerous the sky is? 609 00:32:19,480 --> 00:32:20,400 Speaker 2: Shorn like? 610 00:32:20,480 --> 00:32:22,160 Speaker 1: Have you ever considered do you know this? 611 00:32:22,440 --> 00:32:23,320 Speaker 2: Right? Like? 612 00:32:23,400 --> 00:32:25,160 Speaker 1: This is I don't mean to get so serious here 613 00:32:25,160 --> 00:32:27,480 Speaker 1: here we go. Did you know that according to a 614 00:32:27,520 --> 00:32:32,640 Speaker 1: study in twenty twenty two by a reputable journal did this. 615 00:32:32,560 --> 00:32:34,440 Speaker 2: Study which I will not name. 616 00:32:34,600 --> 00:32:37,800 Speaker 1: I will not name because I've forgotten it. That doesn't matter, right, 617 00:32:38,200 --> 00:32:42,360 Speaker 1: that at some point over the next decade, there is 618 00:32:42,400 --> 00:32:47,920 Speaker 1: a ten percent chance that someone somewhere in the world 619 00:32:48,640 --> 00:32:51,880 Speaker 1: is going to be killed by falling space debris. There's 620 00:32:51,920 --> 00:32:54,160 Speaker 1: a ten yes, don't really. 621 00:32:54,560 --> 00:32:56,280 Speaker 2: Billions of people are there in the world. 622 00:32:57,000 --> 00:32:59,480 Speaker 1: You know what that sounds like to me? Unacceptable risk? 623 00:33:00,240 --> 00:33:05,560 Speaker 2: Right? So I have a one in seventy two billions, Yeah, 624 00:33:05,560 --> 00:33:09,360 Speaker 2: but ten percent chance, So one in seventy two billion 625 00:33:09,480 --> 00:33:12,640 Speaker 2: chance of being hit by space debris. So that means 626 00:33:12,680 --> 00:33:13,640 Speaker 2: you've got a one and. 627 00:33:13,600 --> 00:33:16,040 Speaker 3: Don't like two billion. You don't like them all. 628 00:33:16,840 --> 00:33:19,760 Speaker 1: And if it landed on the studio right now, that's 629 00:33:20,040 --> 00:33:23,080 Speaker 1: that's all numb. No, it would take us all out, 630 00:33:23,400 --> 00:33:26,320 Speaker 1: like it would be It would be a true catastrophe, 631 00:33:26,400 --> 00:33:30,240 Speaker 1: depending on kind of whose perspective he looks at it from. 632 00:33:30,240 --> 00:33:33,560 Speaker 1: But no, seriously, though, we had a massive chunk of 633 00:33:33,560 --> 00:33:36,160 Speaker 1: what appears to be a SpaceX rocket hitting the ground 634 00:33:36,240 --> 00:33:39,000 Speaker 1: in Poland right in the last week. Some more problems 635 00:33:39,000 --> 00:33:40,760 Speaker 1: for Elon Musk. He's got enough on his plate at 636 00:33:40,760 --> 00:33:42,280 Speaker 1: the moment, but he's got to deal with this now too. 637 00:33:42,560 --> 00:33:45,320 Speaker 1: A little bit of context. Last month, QUANTUS flights to 638 00:33:45,400 --> 00:33:48,720 Speaker 1: South Africa had to be delayed because of again SpaceX debris. 639 00:33:48,960 --> 00:33:53,120 Speaker 1: Last year, Adam, did you know a piece of metal 640 00:33:53,480 --> 00:33:58,280 Speaker 1: from a palette of batteries dropped from the International Space 641 00:33:58,320 --> 00:34:05,000 Speaker 1: Station land on a home in Florida. You don't appear 642 00:34:05,000 --> 00:34:08,280 Speaker 1: as shocked as as I didn't know that. Sorry, oh okay, it's. 643 00:34:08,120 --> 00:34:09,040 Speaker 2: Just not very interested. 644 00:34:09,120 --> 00:34:13,680 Speaker 1: That's all That ten percent chance is going to get higher, 645 00:34:13,800 --> 00:34:16,600 Speaker 1: did you know? Because that was in twenty twenty two, 646 00:34:16,719 --> 00:34:20,920 Speaker 1: that study, the likelihood of someone being hit has increased, 647 00:34:21,560 --> 00:34:24,640 Speaker 1: I don't want to use this term incorrectly, but exponentially 648 00:34:25,000 --> 00:34:31,080 Speaker 1: since then. There are seven thousand Starlink satellites in orbit 649 00:34:31,239 --> 00:34:36,839 Speaker 1: right now. More launches regularly, and it's not just that 650 00:34:36,960 --> 00:34:39,200 Speaker 1: we need to worry about what's in orbit. It's also 651 00:34:39,239 --> 00:34:41,040 Speaker 1: that we need to worry about what's in the normal 652 00:34:41,160 --> 00:34:43,000 Speaker 1: height sky as well. 653 00:34:43,520 --> 00:34:47,960 Speaker 2: Normal How can you make this actually interesting topic? So 654 00:34:48,320 --> 00:34:51,799 Speaker 2: dull like it kind of is cool? But yeah it is. 655 00:34:52,600 --> 00:34:56,440 Speaker 1: Look, you know what I don't know? And somehow this week, 656 00:34:56,560 --> 00:35:03,440 Speaker 1: for the first time ever, I've actually found myself boring. 657 00:35:06,160 --> 00:35:08,480 Speaker 1: As I say this, I was like, am I actually 658 00:35:08,480 --> 00:35:10,879 Speaker 1: interested in what I'm saying? Yes? I am, but spice. 659 00:35:10,600 --> 00:35:12,239 Speaker 2: It up a bit. I like the self evaluation. 660 00:35:12,320 --> 00:35:14,640 Speaker 1: I know it's right. But look, anyway, we found out 661 00:35:14,680 --> 00:35:17,600 Speaker 1: this week that the number of passenger planes is forecast 662 00:35:17,640 --> 00:35:20,120 Speaker 1: to grow by a third write down to more than 663 00:35:20,239 --> 00:35:23,160 Speaker 1: thirty six thousand aircraft by twenty thirty four. 664 00:35:23,200 --> 00:35:25,480 Speaker 2: And then, can I please ask for a demerit for 665 00:35:25,560 --> 00:35:28,200 Speaker 2: telling the judge continually to write things down. I'm sick 666 00:35:28,239 --> 00:35:28,400 Speaker 2: of it. 667 00:35:28,440 --> 00:35:31,560 Speaker 1: I'm helping him because he doesn't know what to write down. 668 00:35:31,600 --> 00:35:34,600 Speaker 1: He doesn't know what's interesting, what's not fair enough. That's 669 00:35:34,600 --> 00:35:36,960 Speaker 1: on me, and that's on me, that is on you. 670 00:35:37,200 --> 00:35:39,280 Speaker 1: I'm taking upon myself to tell him when he should 671 00:35:39,280 --> 00:35:41,920 Speaker 1: write things down. And that was one of those. There'll 672 00:35:41,960 --> 00:35:46,600 Speaker 1: be at least ten thousand electric sky taxis as well, 673 00:35:47,480 --> 00:35:51,600 Speaker 1: which is a recipe for disaster. Thirty six thousand aircraft, 674 00:35:51,960 --> 00:35:56,080 Speaker 1: ten thousand sky taxis all of these pieces of sky junk, 675 00:35:56,520 --> 00:36:00,600 Speaker 1: space junk just coming through the atmosphere, burning up, blowing 676 00:36:00,640 --> 00:36:03,720 Speaker 1: things up. Everyone's got this ten percent chance of dying 677 00:36:04,200 --> 00:36:08,279 Speaker 1: in a terrible fireball. This is the year that we 678 00:36:08,360 --> 00:36:11,440 Speaker 1: have to start taking the sky and the threat posed 679 00:36:11,480 --> 00:36:15,560 Speaker 1: by the sky. Seriously, do you agree? 680 00:36:17,080 --> 00:36:24,200 Speaker 3: Yes? So let me respond, I might be about to win. 681 00:36:25,440 --> 00:36:27,920 Speaker 3: The middle management were not sexy. I don't think they 682 00:36:27,960 --> 00:36:30,840 Speaker 3: ever were. And I say this as a proud and 683 00:36:30,960 --> 00:36:34,040 Speaker 3: former middle manager. 684 00:36:35,920 --> 00:36:39,880 Speaker 2: No, what about Jamie Diamond though grade line, great line. 685 00:36:39,800 --> 00:36:43,600 Speaker 3: Great line, and you know what, I agree with him. 686 00:36:43,640 --> 00:36:47,399 Speaker 3: So it sounded a little harsh, but yeah, I think 687 00:36:47,440 --> 00:36:51,360 Speaker 3: he's right. But in this case, Michael, you took me 688 00:36:51,440 --> 00:36:56,480 Speaker 3: to the stars, took me above to space junk. A 689 00:36:56,600 --> 00:36:58,920 Speaker 3: third more planes in the sky. That just gives me 690 00:36:58,960 --> 00:37:01,240 Speaker 3: hope that's going to be even more travel in my life. 691 00:37:01,280 --> 00:37:03,920 Speaker 3: I love that. So that's also why it's my favorite 692 00:37:04,000 --> 00:37:04,719 Speaker 3: story of the week. 693 00:37:04,800 --> 00:37:07,960 Speaker 1: And also because I introduced you to the term normal 694 00:37:08,040 --> 00:37:12,319 Speaker 1: height sky as opposed to orbit, which is a term 695 00:37:12,360 --> 00:37:15,080 Speaker 1: that I made up because because I wasn't sure what 696 00:37:15,080 --> 00:37:18,440 Speaker 1: it was called, Yeah, what's up, Sean. You look like 697 00:37:18,440 --> 00:37:20,520 Speaker 1: you've got a little bit of a gry. Is it 698 00:37:20,520 --> 00:37:23,439 Speaker 1: the fact that I'm made somehow secure a drawer here? 699 00:37:24,640 --> 00:37:27,799 Speaker 1: Trust me, I'm as shocked as you are to all 700 00:37:27,840 --> 00:37:30,960 Speaker 1: on the story. Now, that's a good, good result overall. 701 00:37:31,000 --> 00:37:32,040 Speaker 1: Thank you very much, Sean. 702 00:37:32,239 --> 00:37:34,600 Speaker 2: No no, no, no, no no no no no. 703 00:37:34,520 --> 00:37:37,080 Speaker 1: Something else points please to do. No no, we don't 704 00:37:37,120 --> 00:37:40,120 Speaker 1: need to go to the points. It's all about brevity. Yeah, 705 00:37:40,120 --> 00:37:41,840 Speaker 1: you know what, tell us the points? I can always 706 00:37:41,920 --> 00:37:42,520 Speaker 1: edit it out late. 707 00:37:42,600 --> 00:37:47,600 Speaker 3: Michael ninety well done, very high, Sean ninety two. 708 00:37:49,239 --> 00:37:53,960 Speaker 1: Well that's bare. Ah. So I secured a drawer and 709 00:37:54,000 --> 00:37:57,000 Speaker 1: then you smash st Yeah, yeah, there was a bit more. 710 00:37:57,440 --> 00:37:59,520 Speaker 2: One of those stories that yours was the real dub 711 00:38:00,719 --> 00:38:02,080 Speaker 2: one way you said there was a gap. I can't 712 00:38:02,080 --> 00:38:02,640 Speaker 2: remember which one. 713 00:38:02,600 --> 00:38:05,560 Speaker 1: Would have been the politics one? Was it the banks? 714 00:38:05,600 --> 00:38:08,200 Speaker 1: One of them had a few dues today. I was 715 00:38:08,239 --> 00:38:13,000 Speaker 1: probably pretty good, all right. Thank you Sean, Thanks Michael, 716 00:38:13,160 --> 00:38:15,080 Speaker 1: and thank you Adam, Thank you, Michael, Thank you Sean. 717 00:38:15,320 --> 00:38:17,360 Speaker 1: Make sure you're following the podcast and please join us 718 00:38:17,400 --> 00:38:21,480 Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook, and X. I'm Michael Thompson, 719 00:38:21,520 --> 00:38:21,719 Speaker 1: and that. 720 00:38:21,800 --> 00:38:22,560 Speaker 2: Was fear and greed. 721 00:38:22,840 --> 00:38:23,600 Speaker 1: Have a great weekend.