WEBVTT - Paul Murray Live | 31 July 0:00:00.240 --> 0:00:05.200 From the Skying Center. This is Paul Murray Live. 0:00:06.600 --> 0:00:08.240 Thank you, Sherry, Big News and great stuff for their 0:00:08.320 --> 0:00:10.160 chat Butt Thatt Little be up in fullward Sky News 0:00:10.200 --> 0:00:12.760 dot com dot U and Mula Two's time. Three questions 0:00:12.800 --> 0:00:14.200 off the top of the show before I get into 0:00:14.200 --> 0:00:17.600 the big stuff that's annoyed me today? Can a sex 0:00:17.680 --> 0:00:21.760 club or sorry, adult lifestyle club become a tourist attraction? 0:00:21.960 --> 0:00:25.880 That's the claim in Melbourne when a ghost complains, does 0:00:25.920 --> 0:00:29.520 anyone hear the sound? And how goods Megan Caley she's 0:00:29.560 --> 0:00:29.960 on the night. 0:00:30.920 --> 0:00:33.440 This is not a deal breaker for JD Vance. The 0:00:33.479 --> 0:00:36.160 Democrats don't have a lot on JD and they do 0:00:36.240 --> 0:00:39.199 consider him a massive threat given his genuine ties to 0:00:39.200 --> 0:00:42.840 Appalachia and the white working class, and they're trying to 0:00:42.880 --> 0:00:45.920 do their best to stir up hatred for him. Hatred, 0:00:46.080 --> 0:00:48.240 I mean that's They just sent out a tweet saying 0:00:48.280 --> 0:00:49.160 he hates women. 0:00:50.159 --> 0:00:52.320 Now, remember one of the key promises of this government 0:00:52.880 --> 0:00:54.959 was that they were going to make life better for you. 0:00:55.200 --> 0:00:57.760 That promise wasn't made this year. It wasn't made last year. 0:00:57.760 --> 0:01:00.280 Of course, was made many times up to the action 0:01:00.760 --> 0:01:04.000 in twenty twenty two. It's still on the Prime Minister's 0:01:04.000 --> 0:01:06.360 Twitter feed, but I noticed he hasn't reposted it since 0:01:06.480 --> 0:01:09.400 he made it before the last election. We've recalled this 0:01:09.440 --> 0:01:11.640 as the central failure of this government and it is 0:01:11.680 --> 0:01:13.320 one that they can't spin their way out of. 0:01:13.600 --> 0:01:15.800 The promise was clear, no asterisks. 0:01:15.319 --> 0:01:18.120 No, maybe he's no timetables, but a labour government will 0:01:18.160 --> 0:01:19.199 lower the cost of living. 0:01:19.400 --> 0:01:20.759 Well, guess what happened today. 0:01:22.120 --> 0:01:25.000 Crucial inflation figures show prices still rising. 0:01:25.240 --> 0:01:28.960 Australians are paying much more for food, electricity and rant, 0:01:29.080 --> 0:01:32.880 pushing up the inflation rate, rising costs of groceries, feeding 0:01:32.920 --> 0:01:35.600 and expected rise and inflation in the June quarter to 0:01:35.680 --> 0:01:36.840 three point eight percent. 0:01:37.720 --> 0:01:41.040 Now, reality is Reservebank needs it between two and three percent. 0:01:41.880 --> 0:01:43.920 The month that was just before this, of course, so 0:01:43.959 --> 0:01:46.520 before the reporting period May was four percent. It is 0:01:46.600 --> 0:01:49.640 now just under that number, but still it is higher 0:01:49.680 --> 0:01:50.520 than where it was. 0:01:50.480 --> 0:01:51.840 In the previous three months. 0:01:52.120 --> 0:01:54.600 So put simply, for the first six months of this year, 0:01:54.880 --> 0:01:58.880 things got more expensive. To break it down month by month, 0:01:58.920 --> 0:02:02.960 here's what happened month in June. Will the monthly inflation 0:02:03.040 --> 0:02:06.560 rate was three point eight percent, way higher than that. 0:02:06.760 --> 0:02:09.000 The cost of tobacco, that is what is part of 0:02:09.040 --> 0:02:09.760 this calculation. 0:02:10.160 --> 0:02:14.080 Electricity way more than three point eight at seven point five, 0:02:14.360 --> 0:02:17.400 rent at seven percent, automotive fuel, it's almost like we've 0:02:17.520 --> 0:02:21.520 seen this coming. Petrol at six point six percent, not 0:02:21.639 --> 0:02:24.000 to mention the amount of money for people to set 0:02:24.080 --> 0:02:25.600 up a brand new home that they would live in, 0:02:25.639 --> 0:02:27.720 the clothes that they would wear, and so on and 0:02:27.760 --> 0:02:31.400 so on. Now all of this has been absolute lineball stuff, 0:02:31.480 --> 0:02:34.120 because we know the last time the Reserve Bank met 0:02:34.560 --> 0:02:37.239 now they have of course raised interest rates twelve times 0:02:37.320 --> 0:02:40.720 under this government, once under the previous but twelve times 0:02:40.880 --> 0:02:47.040 under this government. A thirteenth will be political bombshell will 0:02:47.040 --> 0:02:48.639 go off and there will be major problems for a 0:02:48.680 --> 0:02:52.160 government that is suffering on many fronts. But the question 0:02:52.400 --> 0:02:55.040 is the information that we got today does it lead 0:02:55.120 --> 0:02:57.320 us in the obvious direction, which is if inflation keeps 0:02:57.320 --> 0:02:59.840 going up, then interest rates go up as well. 0:03:00.120 --> 0:03:00.360 Well. 0:03:00.480 --> 0:03:03.360 Plenty of people, including a person who's regularly seen on 0:03:03.400 --> 0:03:07.280 this program from Judo Bank, is none other than Warren Hogan. 0:03:07.520 --> 0:03:09.720 He said this today the sky newses ross Greenwood. 0:03:10.880 --> 0:03:13.079 I personally think it's a line baller corp. It'll be 0:03:13.120 --> 0:03:16.080 fascinating to see what happens the risk of not raising 0:03:16.200 --> 0:03:19.360 rates is that if the tax cuts stimulate the economy, 0:03:19.520 --> 0:03:24.200 if the job's growth continues, that inflation starts to pick up. 0:03:24.560 --> 0:03:26.920 And of course it opens the risks that they have 0:03:27.000 --> 0:03:29.160 to do more than one or two, that they have 0:03:29.200 --> 0:03:31.200 to do three, four or five. Of course, what I'm 0:03:31.240 --> 0:03:33.320 saying is it opens the risk that they have to 0:03:33.360 --> 0:03:34.760 put the economy into recession. 0:03:35.680 --> 0:03:37.840 Now, all of the indicators are that if everything is 0:03:37.880 --> 0:03:41.040 more expensive, then the Reserve Bank responds in the same 0:03:41.080 --> 0:03:44.560 brutal fashion that they have twelve times since this government 0:03:44.600 --> 0:03:48.080 came to power. The government the promise to make things cheaper, 0:03:48.120 --> 0:03:50.760 therefore to bring down inflation. But of course it is 0:03:50.800 --> 0:03:51.760 not working. 0:03:52.880 --> 0:03:53.040 Now. 0:03:53.080 --> 0:03:54.800 Without getting too boring about this, and I do not 0:03:54.800 --> 0:03:57.080 pretend to be an economist, but somebody who of course 0:03:57.200 --> 0:04:00.200 is watching the news is in a very granular fashion 0:04:00.480 --> 0:04:01.960 like you do each. 0:04:01.760 --> 0:04:02.320 And every night. 0:04:02.360 --> 0:04:04.160 We try to bring you the information and present the 0:04:04.160 --> 0:04:06.920 people who know what they are talking about with specificity, 0:04:07.240 --> 0:04:10.320 to bring you the data to then add to our opinions. 0:04:11.320 --> 0:04:13.440 But there seems to be a new get out of 0:04:13.520 --> 0:04:16.000 jail situation for the government, which is the difference between 0:04:16.040 --> 0:04:19.080 core and non core inflation. Now I'll explain what all 0:04:19.160 --> 0:04:21.359 that is in a moment. But this is Jim Charmers 0:04:21.400 --> 0:04:23.880 reaching for that as a message to the Reserve Bank, 0:04:23.960 --> 0:04:26.039 saying it's a line ball call. But if it's a 0:04:26.040 --> 0:04:29.960 lineball call, it should land on don't raise the rates. 0:04:31.279 --> 0:04:35.320 What this means is that we are seeing underlying inflation 0:04:35.520 --> 0:04:39.000 in our economy moderate. We would like it to moderate 0:04:39.120 --> 0:04:43.239 further and faster, but this is the sixth consecutive quarter 0:04:43.640 --> 0:04:48.640 that underlying inflation has moderated, and it is also moderating 0:04:48.800 --> 0:04:52.040 in quarterly and annual terms, and we welcome that. 0:04:52.960 --> 0:04:53.839 Now, I get it. What does it? 0:04:55.000 --> 0:04:58.240 Stats can be pushed in lots of different directions, and 0:04:58.279 --> 0:05:00.880 of course they can fit multiple people's argument. What is 0:05:00.960 --> 0:05:03.960 frustrating for those that are, of course very nervous about 0:05:04.000 --> 0:05:05.640 what might be happening is to work out what is 0:05:05.680 --> 0:05:08.120 the key indicies that everyone is looking at. Now we 0:05:08.160 --> 0:05:11.440 have been told relentlessly that it is about inflation, not 0:05:11.520 --> 0:05:14.839 the different versions or types or greater detail. This was 0:05:14.880 --> 0:05:17.160 political spin from the government trying to find the best 0:05:17.200 --> 0:05:22.240 possible number in a headline raising number with many factors 0:05:22.320 --> 0:05:26.880 that in the last month were multiple times the headline number. 0:05:27.400 --> 0:05:31.440 So what is core inflation versus non core inflation. YouTube 0:05:31.480 --> 0:05:32.560 will have the answer for US. 0:05:33.760 --> 0:05:37.200 Core inflation, also known as underlying inflation, is a measure 0:05:37.200 --> 0:05:41.240 of inflation which excludes items that face volatile price movement, 0:05:41.720 --> 0:05:45.160 notably food and energy. That food and fuel prices may 0:05:45.200 --> 0:05:47.720 go up in the short run due to some disturbance 0:05:47.760 --> 0:05:51.520 in the agriculture sector or oil economy, However, over the 0:05:51.600 --> 0:05:54.279 long term they tend to revert back to their normal 0:05:54.320 --> 0:05:58.360 trend growth. On the other hand, prices of other commodities 0:05:58.600 --> 0:06:01.359 do not fluctuate as regular early as food and field. 0:06:02.480 --> 0:06:04.120 Now, the other thing that you need to know is 0:06:04.120 --> 0:06:07.600 that Australia's inflation rate is higher than places like the 0:06:07.720 --> 0:06:08.560 UK and the US. 0:06:09.200 --> 0:06:10.839 Huge factor in the UK election. 0:06:10.600 --> 0:06:13.359 Apart from the obvious mess that was the previous government, 0:06:13.480 --> 0:06:16.000 was of course to living crisis. Well, their inflation rate 0:06:16.040 --> 0:06:18.800 is lower than ours. The United States, the number one 0:06:18.920 --> 0:06:21.880 issue in the presidential election, regardless of whom people are 0:06:21.920 --> 0:06:25.480 planning to vote for at this upcoming election, is inflation. 0:06:25.760 --> 0:06:27.359 Their rate lower than ours. 0:06:28.640 --> 0:06:30.080 Now, there have been many people that have come forward 0:06:30.120 --> 0:06:32.880 and said that one of the things that is keeping 0:06:32.880 --> 0:06:35.479 inflation a little high in Australia is the billions and 0:06:35.480 --> 0:06:38.920 billions of dollars which are being spent by state governments 0:06:39.000 --> 0:06:42.960 and federal governments as well, not to mention increased welfare 0:06:43.000 --> 0:06:45.479 spending and a lot of other things. But of course, 0:06:45.560 --> 0:06:47.720 Jim Chalmers says, nothing to see here. 0:06:48.960 --> 0:06:52.719 We have made some substantial progress. We'd like to make 0:06:52.800 --> 0:06:56.480 more progress. We need inflation to moderate further and faster. 0:06:57.040 --> 0:07:00.240 Inflation is sticky and stubborn in our economy, as it 0:07:00.240 --> 0:07:02.839 has been in other economies earlier in the year. 0:07:03.760 --> 0:07:05.880 Now, sometimes it feels like you're wrestling with smoke here, 0:07:05.920 --> 0:07:08.120 because of course you have the politicians trying to tell 0:07:08.200 --> 0:07:09.600 you that well. 0:07:09.440 --> 0:07:11.320 Up is down, down is up, and black is white 0:07:11.320 --> 0:07:11.920 and left is right. 0:07:11.960 --> 0:07:15.160 You're all of that crap right, because it serves their interests. 0:07:16.120 --> 0:07:18.640 But as we've told you, there's every possible industry for 0:07:18.680 --> 0:07:20.760 the number of cars that are being repossessed, the number 0:07:20.760 --> 0:07:22.320 of people that aren't paying their loans, the number of 0:07:22.360 --> 0:07:24.840 people that having difficulty with their loans, the overall price 0:07:24.880 --> 0:07:27.320 increases that are taking place that, regardless of what is 0:07:27.320 --> 0:07:30.280 happening up in the headline world, in the per capital world, 0:07:30.320 --> 0:07:33.560 we are in a recession. This is a key reason 0:07:33.560 --> 0:07:35.280 why you would think the Reserve Bank wouldn't think about 0:07:35.320 --> 0:07:38.360 raising interest rates. But they have told us, and they 0:07:38.400 --> 0:07:41.320 have done it twelve times in a row, that the 0:07:41.320 --> 0:07:44.440 inflation must hit between two and three. It's now close 0:07:44.480 --> 0:07:46.960 to four than it is three, and they only have 0:07:47.360 --> 0:07:48.400 one leave at a pull. 0:07:48.440 --> 0:07:50.040 Will they pull up? We'll all find out together. 0:07:50.720 --> 0:07:52.400 But as to say, when you're sort of wrestling with smoke, 0:07:52.440 --> 0:07:54.360 it's good to see from time to time people who 0:07:54.480 --> 0:07:56.920 are well. You happen to line up with most of 0:07:56.920 --> 0:08:00.000 the people here, of course you'll see in primetime absolutely 0:08:00.080 --> 0:08:02.280 clear about things like cost of living and the political 0:08:02.320 --> 0:08:05.240 impact of inflation. But interesting to note that Peter van Onslan, 0:08:05.280 --> 0:08:07.680 who often we agree disagree with whatever, but he has 0:08:07.760 --> 0:08:10.840 hit rather hard today in the Daily Mail about just 0:08:10.960 --> 0:08:15.840 this wrestling with smoke factor. That is, the Treasurer Jim 0:08:15.880 --> 0:08:20.440 Chalmer's excuses for Australia's inflation crisis spectacularly unraveled two key stats, 0:08:20.480 --> 0:08:24.000 easily blowing apart the garbage the Treasurer is peddling. 0:08:24.440 --> 0:08:25.119 Nice and clear. 0:08:25.120 --> 0:08:28.600 Here, he says, the Treasurer wants you to believe that 0:08:28.640 --> 0:08:30.760 this is a global problem, claiming on Wednesday that some 0:08:30.840 --> 0:08:34.600 global pressures are helping fuel stick inflation. But it's not, 0:08:34.880 --> 0:08:37.400 as I explained before, places like the United States and 0:08:37.440 --> 0:08:39.920 the UK lower than where we are right now. And 0:08:39.920 --> 0:08:42.199 then there's the issue of the budget now of course, 0:08:42.280 --> 0:08:46.360 the two little too late tax cuts, the power bill 0:08:47.320 --> 0:08:50.880 measures which mean people from mansions to one bedroom units 0:08:50.880 --> 0:08:52.800 we'll all get the same three hundred dollars, all of 0:08:52.800 --> 0:08:55.240 which is being eaten up by increased power prices. I've 0:08:55.240 --> 0:08:57.880 got more of that in a second again, Pvo says. 0:08:58.440 --> 0:09:00.719 Charmers also attacked economists who The Times suggested that the 0:09:00.720 --> 0:09:03.040 budget will be inflationary. The Treasurer now has mud on 0:09:03.040 --> 0:09:05.320 his face, that's for sure. In fact, it's covered him 0:09:05.360 --> 0:09:11.320 from head to toe, well said. Meantime, one of the 0:09:11.320 --> 0:09:14.240 issues in and around the politics of what is happening 0:09:14.280 --> 0:09:17.800 now is that the Australian economy is not in a 0:09:17.800 --> 0:09:22.880 great place and the reality is nowhere near what was promised. 0:09:23.080 --> 0:09:25.040 Hence why the Prime Minister is in a series of 0:09:25.040 --> 0:09:26.920 problems at the moment, with the polls that even the 0:09:26.920 --> 0:09:29.000 poles that turn up in places like the Guardians say 0:09:29.120 --> 0:09:31.720 more people disapprove than approve of his job right now, 0:09:31.960 --> 0:09:34.160 and in fact more people approve than disapprove of. 0:09:34.120 --> 0:09:37.040 Where Peter Dutton is right now. Now, of course it's 0:09:37.080 --> 0:09:37.520 the Teals. 0:09:37.520 --> 0:09:39.080 And I say this every night because I know somebody 0:09:39.120 --> 0:09:40.840 will run after the umpire and we'll end up turning 0:09:40.920 --> 0:09:44.120 up on some sort of media criticism show. We all 0:09:44.160 --> 0:09:47.160 know that the path to seventy six is complicated, particularly 0:09:47.200 --> 0:09:49.240 for the opposition because of the Teals, but still it 0:09:49.240 --> 0:09:51.760 all matters here and it's interesting to note again the 0:09:51.760 --> 0:09:53.600 people who normally wouldn't line up with us, who are 0:09:53.640 --> 0:09:56.240 starting to line up and admit what we have known 0:09:56.520 --> 0:09:58.520 since day one of the government, and even if you 0:09:58.520 --> 0:09:59.920 gave him the benefit of the doubt, what was clean 0:10:00.240 --> 0:10:02.079 by year one of the government, by year two of 0:10:02.120 --> 0:10:04.920 the governor. Now, as we move towards an election, the 0:10:04.920 --> 0:10:08.719 City warning Herald they're editorial today Albaneza government has work 0:10:08.800 --> 0:10:10.439 to do to keep the elected on board. The latest 0:10:10.480 --> 0:10:14.559 Resolve political monitor conducted for the Herald shows people are 0:10:14.600 --> 0:10:18.440 to tuning out from the Labor government. Voters boosted the 0:10:18.440 --> 0:10:21.560 coalition to another high in support after months of steady 0:10:21.600 --> 0:10:25.120 gains to the Liberal Party leader Peter Dutton and his team. 0:10:25.679 --> 0:10:28.920 The government has drifted in popularity since it's failed referendum. 0:10:28.960 --> 0:10:32.360 Voice in October last year. Weeks later, the High Court 0:10:32.440 --> 0:10:34.720 ruled against indefinite detention, leading to the release of one 0:10:34.800 --> 0:10:37.280 hundred and fifty people, some of whom were later found 0:10:37.360 --> 0:10:41.720 to have serious criminal histories. The Herald goes on, the consistent, 0:10:41.840 --> 0:10:45.199 slow drip feed of negative economic news has been water 0:10:45.280 --> 0:10:48.600 torture for households facing sustained cost of living pressures as 0:10:48.640 --> 0:10:52.440 they struggle to understand why economists are again discussing another 0:10:52.520 --> 0:10:56.400 interest rate rise. So the political problem for the government 0:10:56.440 --> 0:11:00.520 is obvious. We promise to fix the problem, but they don't. 0:11:00.840 --> 0:11:04.360 The problem becomes demonstrably worse on their watch. But they 0:11:04.400 --> 0:11:06.640 want a gold medal because the latest number is slightly 0:11:06.640 --> 0:11:08.360 better than the one from twelve months ago or twelve 0:11:08.360 --> 0:11:11.480 months before that. The reality, of course, is that every 0:11:11.520 --> 0:11:15.000 single month, whether the number is way up or slightly down, 0:11:15.320 --> 0:11:17.760 it's still higher than where it was. 0:11:18.280 --> 0:11:20.200 When they took office. 0:11:20.280 --> 0:11:22.760 That means, of course, that fundamental problem and that fundamental 0:11:22.760 --> 0:11:26.600 promise is broken. But before anyone's thinking about turning and 0:11:26.640 --> 0:11:28.320 turning away from a government, you need to know what 0:11:28.360 --> 0:11:32.520 an opposition would do. This is the chief problem of oppositions. 0:11:33.000 --> 0:11:35.520 If you make a vague promise like the previous government 0:11:35.520 --> 0:11:37.280 did saying we'll make it all better, or when it 0:11:37.280 --> 0:11:39.080 all turns out not to be better, you can be 0:11:39.120 --> 0:11:42.000 held pretty obviously accountable for it when you say you're 0:11:42.000 --> 0:11:43.840 going to drop power prices by two hundred and seventy 0:11:43.840 --> 0:11:45.520 five dollars, But then you come up with new ways 0:11:45.520 --> 0:11:49.680 of pretending you never said it. People remember, and that 0:11:49.800 --> 0:11:52.080 starts to throw sand into the political gears. 0:11:51.880 --> 0:11:52.400 Of the government. 0:11:53.360 --> 0:11:55.640 Obviously, for the opposition, it's easy for them on some 0:11:55.840 --> 0:11:58.600 levels just to try to scoop people up as they 0:11:58.600 --> 0:12:01.040 become dissatisfied with the government, but at some point they 0:12:01.040 --> 0:12:03.760 have to say what their plan would be, what they 0:12:03.800 --> 0:12:07.199 would do, what policies they could put in place. Now, 0:12:07.200 --> 0:12:09.040 of course, if that means a reduction and the amount 0:12:09.040 --> 0:12:10.439 of money that we spend in the budget, where we 0:12:10.440 --> 0:12:13.320 all know how that's automatically interpreted by the ad makers 0:12:13.320 --> 0:12:15.280 of the Labour Party cut cut cut, cut, cut, cut, cut, 0:12:15.280 --> 0:12:18.839 cut cut. But if people know that the budget is 0:12:18.880 --> 0:12:21.559 part of the problem and the government tells you there 0:12:21.600 --> 0:12:23.920 isn't a problem, well then it does make an easier 0:12:24.000 --> 0:12:26.320 argument for those that are trying to prosecute. 0:12:25.800 --> 0:12:26.960 Against them right now. 0:12:27.640 --> 0:12:29.720 But then there's another factor now this factor has been 0:12:29.800 --> 0:12:34.840 used relentlessly to bash up on conservative governments, and Patricia 0:12:34.920 --> 0:12:37.080 carvellis again I'm focusing on some people who we normally 0:12:37.120 --> 0:12:39.920 wouldn't be throwing much praise at because they probably wouldn't 0:12:39.920 --> 0:12:43.160 even look sideways at us. But still, broken clocks and 0:12:43.200 --> 0:12:45.439 all the rest of it. Anthony Ibnez's wo go much 0:12:45.480 --> 0:12:48.920 deeper than the reshuffle. Voter confidence has plummeted. She quoted 0:12:48.960 --> 0:12:50.920 her poll which yes goes back to January, but I 0:12:50.960 --> 0:12:54.079 think would be worse now. And that is the percentage 0:12:54.080 --> 0:12:56.240 of Australians who feel they have a great deal or 0:12:56.320 --> 0:12:58.920 quite a lot of confidence in the federal government. The 0:12:59.040 --> 0:13:02.480 number is now thirty eight and a bit percent. That 0:13:02.559 --> 0:13:06.960 number is ever so slightly higher than the number that 0:13:07.080 --> 0:13:10.520 caused a change of government in twenty twenty two. Now, 0:13:10.520 --> 0:13:12.600 as you can see the high points on the left, 0:13:12.679 --> 0:13:16.199 well that's all in and around the COVID period. Then 0:13:16.240 --> 0:13:18.640 of course there was the consequences after it, which resulted 0:13:18.679 --> 0:13:20.840 in a change of government. The change of government resulted 0:13:20.840 --> 0:13:25.240 in the spike and then the failure to deliver on 0:13:25.320 --> 0:13:28.839 the promises or when they're caught out lying, but they 0:13:28.840 --> 0:13:31.400 tell you that everything is awesome. Well that again is 0:13:31.440 --> 0:13:34.040 now starting to put them into a territory that statistically 0:13:34.400 --> 0:13:38.520 is a world of trouble. But again the reason Albanezi 0:13:39.240 --> 0:13:41.680 probably sleeps a little more comfortably that he should based 0:13:41.679 --> 0:13:43.600 off poles that are showing us that within six months 0:13:43.640 --> 0:13:47.000 of election he is currently behind in multiple areas, not 0:13:47.040 --> 0:13:49.960 in Newspole, but in multiple others. Is again the teals 0:13:51.000 --> 0:13:52.480 So we'll have to wait and see. And it is 0:13:52.520 --> 0:13:54.640 interesting about the number of people and the amount of 0:13:54.640 --> 0:13:57.120 poles that are around in Australia that they are not 0:13:57.240 --> 0:13:59.320 doing some version of seat by seat polling to tell 0:13:59.400 --> 0:14:02.640 us if there has any change or sentiment towards the independence. 0:14:03.280 --> 0:14:05.640 I know at times they talk about things like double haters, 0:14:05.640 --> 0:14:08.280 where people who hate both major parties, and that of 0:14:08.280 --> 0:14:12.240 course is all soft promotion for the third option or 0:14:12.280 --> 0:14:13.439 the fourth or the fifth. 0:14:13.160 --> 0:14:14.720 Depending on how you look at things. 0:14:16.000 --> 0:14:17.920 But if the Prime Minister and the Treasurer think that 0:14:17.920 --> 0:14:20.720 they can keep punching out budgets that pretend to take 0:14:20.760 --> 0:14:24.200 care of things but actually make things worse, then it 0:14:24.240 --> 0:14:26.720 doesn't matter what they do in the big cashplash before 0:14:26.720 --> 0:14:29.800 the next election. If people, as predicted by some of 0:14:29.840 --> 0:14:34.080 these media organizations are starting to not even listen. Then 0:14:34.120 --> 0:14:38.880 it won't even matter. Now part of all of this 0:14:38.920 --> 0:14:42.920 again is power prices. Now Australians are using their power 0:14:42.960 --> 0:14:46.080 at a particularly cold time of the year. Winter means 0:14:46.120 --> 0:14:48.880 you end up backing on the heater, turning on the 0:14:48.920 --> 0:14:51.760 air conditioning in the exact same fashion without the heater. Instead, 0:14:51.800 --> 0:14:54.080 it's the fan and the air conditioner that goes during summer. 0:14:54.760 --> 0:14:57.240 And there's always this sort of tectonic debate at the 0:14:57.280 --> 0:15:00.240 moment about do we go for nuclear energy, which of 0:15:00.280 --> 0:15:02.760 course is the position of Peter Dutton and the opposition. 0:15:02.840 --> 0:15:05.440 They say it provides more reliable power, but of course 0:15:05.440 --> 0:15:08.680 it costs billions of dollars to build. And then of 0:15:08.720 --> 0:15:12.000 course there's the albanezy greens and teal position, which is, no, 0:15:12.120 --> 0:15:14.480 it should be more renewables, but they cost even more 0:15:14.600 --> 0:15:18.400 billions to build, in fact, close to a trillion dollars 0:15:18.440 --> 0:15:20.200 to build, and some of this stuff has to be 0:15:20.240 --> 0:15:21.360 replaced within ten. 0:15:21.280 --> 0:15:24.880 Or twenty years. And of course it's. 0:15:24.840 --> 0:15:27.520 Not good when it ain't shining and it ain't blowing, 0:15:27.560 --> 0:15:30.560 so you have to have something that is securing the grid. 0:15:30.560 --> 0:15:32.520 That of course is things like gas. But then lefties 0:15:32.520 --> 0:15:36.120 don't want that, So of course we're again in this fight. 0:15:36.240 --> 0:15:39.800 Now where what sort of energy system do we want? 0:15:39.840 --> 0:15:44.040 Do we want the one that's going to reduce something 0:15:44.080 --> 0:15:46.840 to do with like forty three percent of one percent 0:15:46.840 --> 0:15:49.640 of the global climate problem? Or China can continue to 0:15:49.640 --> 0:15:53.480 do whatever it wants with thirty times more pollution being 0:15:53.520 --> 0:15:57.240 pumped up each and every year, and of course they 0:15:57.240 --> 0:15:59.240 can keep increasing that number all the way to twenty 0:15:59.280 --> 0:15:59.640 thirty one. 0:15:59.640 --> 0:16:01.200 Where on one hand, behind our. 0:16:01.080 --> 0:16:05.280 Back, or is the suggestion again that we can go 0:16:05.360 --> 0:16:07.840 in the direction of nuculi. Now, as you know, the 0:16:07.840 --> 0:16:10.360 line out of the government is rather consistent here that 0:16:10.400 --> 0:16:12.080 we've picked a path and this is the only path 0:16:12.080 --> 0:16:13.840 that we can possibly do because if you go down 0:16:13.880 --> 0:16:16.200 the other one, the one that's currently powering the paras 0:16:16.200 --> 0:16:20.200 Olympic Games or the one that's powering the Los Angeles 0:16:20.240 --> 0:16:23.480 Games in four years time, well you'll have to pay more. 0:16:25.240 --> 0:16:29.880 Nuclear power is the most expensive form of new energy. 0:16:29.600 --> 0:16:32.600 And in Australia nuclear is too expensive and too slow. 0:16:32.960 --> 0:16:36.600 Taxpayers are going to pay for the most expensive form 0:16:36.760 --> 0:16:37.720 of new energy. 0:16:37.960 --> 0:16:39.480 Nuclear is expensive to build. 0:16:39.760 --> 0:16:44.560 They want a wreck investment and then charge taxpayers for 0:16:44.800 --> 0:16:49.040 the most expensive form of new energy that's available with 0:16:49.240 --> 0:16:51.640 their nuclear reactionary plan. 0:16:52.800 --> 0:16:54.920 Now, we could spend a whole hour talking about how 0:16:54.960 --> 0:16:57.400 many twists and lies we're inside all of that. Of course, 0:16:57.440 --> 0:16:59.960 there's plenty billions, billions and billions and billions of dog 0:17:00.360 --> 0:17:03.160 it's all off agit, meaning that we never actually see 0:17:03.160 --> 0:17:06.280 what the numbers are that are going to subsidize the 0:17:06.359 --> 0:17:10.120 creation of the renewable sector, because apparently once the renewable 0:17:10.119 --> 0:17:12.200 stuff is built, well, everything's going to be cheaper, right. 0:17:12.200 --> 0:17:16.320 The problem is it costs to trillion dollars to build it. 0:17:16.400 --> 0:17:18.600 Renewable energy is the cheapest form of energy. 0:17:18.760 --> 0:17:20.720 Renewables are the cheapest. 0:17:21.040 --> 0:17:25.040 Renewable energy is incredibly cheap. The cheapest form of new 0:17:25.160 --> 0:17:27.560 energy is renewables. 0:17:29.080 --> 0:17:31.920 Well, interesting today to see James Morrow writing an interesting 0:17:32.000 --> 0:17:34.399 piece in the Daily Telegraph, of course, the great man 0:17:34.440 --> 0:17:37.200 who often appears here on this program, and obviously you 0:17:37.240 --> 0:17:41.080 can see him on Outsiders in the US Report on Fridays. Well, 0:17:41.119 --> 0:17:43.360 he's got some data which is coming from the Red 0:17:43.440 --> 0:17:46.600 Bridge polling organization. This ironically is also the group that 0:17:46.640 --> 0:17:48.840 does a bit of polling for the Teals, So it 0:17:48.880 --> 0:17:52.360 ain't a right wing pole and according to research which 0:17:52.359 --> 0:17:54.879 has been done by red Bridge. Fifty four percent of 0:17:54.880 --> 0:17:57.080 all voters agree with the statement that labours rush to 0:17:57.119 --> 0:18:00.280 increase the amount of wind and solar is driving energy. 0:18:00.480 --> 0:18:01.080 Through the roof. 0:18:01.359 --> 0:18:05.480 Repeat, Fifty four percent of people believe the government is 0:18:05.520 --> 0:18:06.639 pushing power. 0:18:06.400 --> 0:18:07.320 Prices through the roof. 0:18:07.760 --> 0:18:09.679 Just twenty nine percent of labor voters agree that the 0:18:09.680 --> 0:18:13.840 government's tight timelines and high targets we're actually pushing up 0:18:13.920 --> 0:18:17.000 energy costs. It is seventy nine percent of Coalition voters 0:18:17.040 --> 0:18:19.680 and forty percent of Greens that are helping get to 0:18:19.760 --> 0:18:22.600 that number of fifty four percent. Remember, of course, labor 0:18:22.640 --> 0:18:25.960 only represents about a third of the vote. Fifty nine 0:18:26.000 --> 0:18:28.280 percent of respondents of households that have less than one 0:18:28.320 --> 0:18:31.520 thousand dollars a week coming into their house they also 0:18:31.880 --> 0:18:34.000 agree with the sentiment that the government is pushing up 0:18:34.040 --> 0:18:38.800 power prices deliberately and intentionally through their policies. Meantime, those 0:18:38.920 --> 0:18:41.080 with three thousand dollars a week coming into the house 0:18:41.280 --> 0:18:45.280 also a majority believe that the government is making things worse. 0:18:46.119 --> 0:18:48.600 So let's have a look again at the data. The 0:18:48.720 --> 0:18:53.199 data tells us that prices have gone up under this government. 0:18:53.520 --> 0:18:55.399 The data tells you that interest rates have gone up 0:18:55.480 --> 0:18:57.639 under this government. The data tells you the power prices 0:18:57.680 --> 0:19:00.000 have gone up under this government. So mum, you again, 0:19:00.440 --> 0:19:04.959 what's the point of this government? Oh, that's right, apparently 0:19:04.960 --> 0:19:07.720 it's to keep you safe. Well again, some more information 0:19:07.800 --> 0:19:09.960 about that. As you know, the High Court last year 0:19:09.960 --> 0:19:14.080