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Speaker 1: Apple relaunches its phones, watches, and air pods with enhanced

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Speaker 1: AI features as part of its effort to end sliding sales.

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Speaker 1: Bank stop surge as Commonwealth Bank hits another record and

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Speaker 1: investors are set for a thirty five billion dollar dividend

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Speaker 1: bonanza over the next eight weeks. Welcome to Fear and Greed.

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Speaker 1: Daily business news for people who make their own decisions.

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Speaker 1: It is Wednesday, the eleventh of September twenty twenty four.

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Speaker 1: I'm Michael Thompson and good morning, Sean Aylmer.

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Speaker 2: Good morning, Michael. Now I have a challenge for you today.

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Speaker 1: Oh, dear go on.

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Speaker 3: One of my all time.

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Speaker 2: Favorite words is in the show. I think you'll pick

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Speaker 2: it immediately. There has been some criticism that you haven't

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Speaker 2: been listening closely enough to me. I think one of

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Speaker 2: our regular listeners came in yesterday and said I was

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Speaker 2: talking about shareholders being fed up at Domino's and you

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Speaker 2: made no response to that.

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Speaker 1: Completely missed it.

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Speaker 2: Yep, completely missed it. But one of my all time

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Speaker 2: favorite words is in today's episode.

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Speaker 3: I hope you pick it up.

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Speaker 1: Oh oh, I will be listening like a hawk.

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Speaker 3: I don't know whether good.

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Speaker 1: I don't know whether the hawks have good here.

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Speaker 2: You know what, Let's move on listening like a dog.

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Speaker 1: Let's move on from that sean and get straight onto

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Speaker 1: the main story. This morning, Apple has released new watches, iPhones,

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Speaker 1: and AirPods in its biggest product launch in years, with

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Speaker 1: Chief executive Tim Cook claiming the company is introducing breakthrough

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Speaker 1: technologies in the devices. That's a big call.

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Speaker 2: It is the devices that were equipped with new artificial

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Speaker 2: intelligence features known as Apple Intelligence, which mister Cook says

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Speaker 2: will enhance creativity, accessibility and health awareness. The launch of

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Speaker 2: Apple Intelligence will take time to roll out. It won't

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Speaker 2: actually be launched in Australian English until December, though the

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Speaker 2: new devices go on sale in a little over a week.

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Speaker 2: The new iPhone sixteen range includes a new faster chip

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Speaker 2: and will perform AI tasks including writing tools and information

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Speaker 2: gathering services via photo. The Apple Pro models will include

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Speaker 2: a larger screen as well as sharper microphones, and all

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Speaker 2: the new phones will have a bigger battery and upgrades

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Speaker 2: to cameras. In fact, some of the changes to cameras

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Speaker 2: are quite remarkable. The watches have larger screens, thinner and

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Speaker 2: include faster charging times, but the main upgrade really with

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Speaker 2: the watches are around health features, including this incredible feature

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Speaker 2: which can detect whether wearers have sleep app now over

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Speaker 2: a thirty day period. When it comes to the AirPods,

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Speaker 2: one of Apple's big selling points yesterday was that the

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Speaker 2: Pro series can act as a hearing aid device. So

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Speaker 2: overall these new devices, AI is a big part of it,

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Speaker 2: but also the push into health is another big part

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Speaker 2: of it.

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Speaker 1: Apple is just such a big company and when it

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Speaker 1: makes an announcement like this, it is such big news.

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Speaker 1: But when it kind of all comes down to it, Sean,

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Speaker 1: the question for most of us is how much all

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Speaker 1: of these AI enhanced devices are actually going to cost.

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Speaker 2: Yes, well, surprisingly some devices, notably the phones are cheaper

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Speaker 2: than the last version in US dollars. The iPhone sixteen

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Speaker 2: starts at thirteen ninety nine, with the Pro models beginning

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Speaker 2: at seventeen ninety nine. The Apple Watch Series ten starts

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Speaker 2: at six hundred and forty nine US dollars. Of course,

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Speaker 2: that's so the watch is the same as the previous version.

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Speaker 2: The AirPod prices haven't increased either. The Apple prices have

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Speaker 2: actually come down fifty dollars for the Pro Series one

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Speaker 2: hundred dollars for the iPhone sixteen. The launch really matters

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Speaker 2: to Apple. It's the world's largest company, and we know

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Speaker 2: that we're three point four trillion US dollars. iPhones bring

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Speaker 2: in more than fifty percent of the company's revenue, So

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Speaker 2: the iPhone division, if it was on its own, would

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Speaker 2: be the fifteenth biggest revenue earner on the S and

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Speaker 2: P five hundred. That's bigger than four, bigger than general

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Speaker 2: matters just the phone division. But the last full financial

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Speaker 2: year turnover was down more than two percent. The last

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Speaker 2: quarter it was off about one percent. Apple hopes the

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Speaker 2: launch of the AI product will boost its flagship products

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Speaker 2: and reverse sluggish sales. What are their big pushes at

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Speaker 2: the launch yesterday? Curtin California yesterday morning. Australian Time included

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Speaker 2: up to eight hundred dollars in the US when you

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Speaker 2: trade in an iPhone twelve or newer model. According to

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Speaker 2: the Australian consumers can get up to eleven twenty five

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Speaker 2: dollars credit if they trade in an iPhone fifteen Promax

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Speaker 2: Here in Australia now, if they have an eight year

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Speaker 2: old iPhone seven plus, they can get sixty five dollar

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Speaker 2: credit Anyway, the whole idea is that trade ins will

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Speaker 2: actually offset the cost of a new phone, or a

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Speaker 2: new pair of AirPods, or a new watch. Having said

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Speaker 2: all that, of course, none of the prices are higher.

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Speaker 2: In fact, the phones are actually cheaper than the previous versions.

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Speaker 1: I've done that before, the trade in have you done?

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Speaker 1: I upgraded from my last iPhone to my current iPhone.

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Speaker 1: I thought, you know what they offer this, I'm going

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Speaker 1: to give it a crack. And obviously when on advertising

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Speaker 1: Apple or anything here, but I figured that it was

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Speaker 1: better than just disappearing into my drawer because the phones

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Speaker 1: just have this ability of just kind of congregating in

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Speaker 1: the back of your bedside draw.

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Speaker 3: So how much did you get?

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Speaker 1: I was about maybe five hundred dollars. Oh really, because

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Speaker 1: it was only it was probably about a three year

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Speaker 1: old phone, right, And so I got about five hundred

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Speaker 1: dollars and it actually kind of brought down the cost

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Speaker 1: of the new phone fairly substantially. And considering I was

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Speaker 1: probably just going to kind of keep it as a

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Speaker 1: backup phone, I thought, well, you know, it's better money

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Speaker 1: in my pocket than kind of a dead phone and

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Speaker 1: a drawer.

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Speaker 2: See last time I bought a new iPhone, which is

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Speaker 2: probably three or four years ago. I was going through

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Speaker 2: the period teenage kids. They were breaking these all the time,

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Speaker 2: so the one I was replacing just went to one

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Speaker 2: of the kids. Though now as the kids are a

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Speaker 2: bit older, I can probably get some money from my

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Speaker 2: current model.

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Speaker 1: Yeah, something there's a bit of competition for these phones

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Speaker 1: and actually become quite the commodity and the trade in market. Anyway,

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Speaker 1: showing it's a fascinating story. And after the show, you've

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Speaker 1: got an interview coming up with Stephen Fennick, the editor

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Speaker 1: of tech guide dot com dot au, who knows this

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Speaker 1: stuff so so well.

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Speaker 2: He said he got up at two thirty am yesterday

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Speaker 2: morning to listen to the announcement out of Kupertino in California,

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Speaker 2: and he gives us the whole is it the box

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Speaker 2: and dice ball.

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Speaker 1: And it's the box and dice after me listening like

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Speaker 1: a hawk early on though you do not want to

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Speaker 1: trust anything I say on saying.

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Speaker 2: Okay, the whole box and dice on the new watch,

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Speaker 2: the phone, and the AirPods. I mean, he goes into

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Speaker 2: some of the detail about the medical options on some

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Speaker 2: of these devices, just quite astounding yeah.

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Speaker 1: Yeah, it's a big event in the tech world, and

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Speaker 1: it's a big event in the business world, as you

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Speaker 1: pointed out, Sean, just because of the flow on effects

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Speaker 1: and the importance of this launch for Apple. So big,

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Speaker 1: big story, local markets. Let's have a look back home.

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Speaker 1: What happened yesterday?

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Speaker 2: S and p ASX two hundred closed up zero point

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Speaker 2: three percent to finish just over eight thousand points. The

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Speaker 2: banks just keep giving, come off. Bank yesterday hit a

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Speaker 2: new record high of one hundred and forty five dollars

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Speaker 2: and twenty four cents a share. Mcquarie Group hit a

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Speaker 2: new record also two hundred and twenty eight dollars fifty

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Speaker 2: a share, while Westpac, National, Australian Bank and AMS ED

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Speaker 2: are trading above or at seven year highs. It came

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Speaker 2: after UBS analysts suggested investors choose banks over miners, arguing

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Speaker 2: that even at these elevated prices, the big banks are

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Speaker 2: likely to do better than the resource companies. Also affecting

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Speaker 2: the banks, the regulator, the Australian Prudential Regulation Authority, announced

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Speaker 2: plans to phase out bank hybrid securities.

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Speaker 3: They've been around for quite a few years now.

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Speaker 2: Basically, April wants the banks to replace them with cheaper

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Speaker 2: and more reliable forms of capital away from the bank's

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Speaker 2: Energy and telcos did best yesterday, while materials companies performed worst.

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Speaker 2: Taking a look at the non bank large caps, WIEST

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Speaker 2: Global and QBA Insurance were two of the best performers.

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Speaker 2: Fort SCUW Metals Group was the worst.

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Speaker 1: I'm going to have to ask you about a piece

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Speaker 1: of jargon there that I am not particularly familiar with

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Speaker 1: bank hybrid securities. What does this mean?

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Speaker 2: Yes, difficult to explain. Basically, when you sit in the

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Speaker 2: capital structure, you well, less capital structure is going to

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Speaker 2: be hard to explain too. When there's equity at one end,

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Speaker 2: there's bonds at the other, and if a bank fails,

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Speaker 2: the bond holders get paid out before the equity holders

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Speaker 2: get paid out. And if equity holders don't tend to

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Speaker 2: get paid out in between bonds and equities, this is

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Speaker 2: oversimplifying it. There's all sorts of other instruments that debt

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Speaker 2: instruments that banks use to raise money. One of those

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Speaker 2: are these hybrids, which actually start as one form might

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Speaker 2: be a bond and convert hybrid convert to equity. So

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Speaker 2: there's all sorts of bells and whistles on these sorts

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Speaker 2: of things. But the gist of it is that they're

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Speaker 2: certainly not as safe as bonds, but more safe than equity.

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Speaker 2: Now the banks hold these in reserve so that something

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Speaker 2: goes wrong, they can liquidate these hybrids and use it

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Speaker 2: to pay for things that with things going wrong, the

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Speaker 2: regulator thinks they're not quite safe enough, so they don't

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Speaker 2: want them to issue hybrids anymore. A long answer to

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Speaker 2: a short question, which I don't know whether I answered,

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Speaker 2: but the you.

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Speaker 1: I think you did. But my favorite part of that

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Speaker 1: was when you started explaining it and he saw the

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Speaker 1: look on my face and you actually said, you know what,

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Speaker 1: I'm going to have to simplify this even further. Let's

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Speaker 1: move on international markets. What's happening there?

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Speaker 2: Well, The Aussie dollars and having much fun at the

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Speaker 2: moment's trading around sixty six and a half. A few

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Speaker 2: usns hit by fears of an economic slow down and

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Speaker 2: disappointing economic data out of China. Oil prices have edged

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Speaker 2: up again on the back of Hurricane Francine shutting down

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Speaker 2: some dueling operations in Texas. Still, he is training close

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Speaker 2: to three year lows goals buying twenty five hundred US

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Speaker 2: dollars announced and there was a jump in nine all

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Speaker 2: prices yesterday. It's kind of ironic, but the idea there

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Speaker 2: is that because the numbers and China are so bad,

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Speaker 2: people now hopeful that Beijing will provide some stimulus for

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Speaker 2: that economy.

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Speaker 3: Therefore, that's good for iron ore.

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Speaker 1: That makes sense. Figure out quick mention sean of the

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Speaker 1: fact that today is Wednesday, which means it's newsletter day.

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Speaker 1: The Fear and Greed Free weekly newsletter only comes out

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Speaker 1: once a week. That's why it's a weekly newsletter, and

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Speaker 1: it is Wednesday, and it comes out mid morning on Wednesday.

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Speaker 1: If you haven't signed up already, you can head along

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Speaker 1: to Fearangreed dot com dot au and just pop your

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Speaker 1: email address in and you will get the newsletter when

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Speaker 1: it comes out mid morning. Any hints as to what

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Speaker 1: you'll be kind of delving into giving us your views

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Speaker 1: on your unadulterated opinions, Yeah.

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Speaker 2: Fair bit about stocks and come off bank and places

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Speaker 2: like that.

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Speaker 3: Today.

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Speaker 1: Oh, very exciting, the most exciting. Yeah, there's incentive in

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Speaker 1: itself to go and sign up. I'm still listening out

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Speaker 1: for the word. By the way, you haven't said it.

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Speaker 3: Yet, have you. I haven't. I haven't.

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Speaker 1: Okay, all right, I shall keep waiting. We'll be back

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Speaker 1: in a moment with the rest of the day's business

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Speaker 1: news Shawn. The Albanesi government is seeking the support of

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Speaker 1: all states and territories to impose a nationwide ban on

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Speaker 1: teenagers using social media.

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Speaker 2: Prime Minister Anthony Alberzi said he will introduce new laws

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Speaker 2: before the next election, saying parents are working without a

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Speaker 2: map to try and tackle the mental health consequences triggered

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Speaker 2: by social media. It comes after South Australian Premier Peter

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Speaker 2: malan Orcus proposed to ban children under fourteen from accessing

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Speaker 2: platforms such as Instagram. Now, the federal plan is vaguer,

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Speaker 2: with the cutoff age somewhere between thirteen and sixteen. The

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Speaker 2: final decision will be made by the state's territories in

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Speaker 2: federal government together. The federal government has already initiated research

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Speaker 2: into using age assurance technologies and has begun consulting parents,

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Speaker 2: young people, academics and digital platforms about how the band

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Speaker 2: could work. The next phase involves testing so called age

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Speaker 2: assurance technologies VISA technologies aimed to prevent access to pornography

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Speaker 2: by children under the age of eighteen and age limit

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Speaker 2: access to social media platforms for teenagers between thirteen and

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Speaker 2: sixteen years old. Some of the premiers have come on

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Speaker 2: board Victoria's to center Allen was one yesterday. Still ways

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Speaker 2: to go, but the wheels are in motion on this one.

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Speaker 1: Yeah, it feels like progress. Consumer sentiment SEAN has fallen

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Speaker 1: on the back of fears about the economic outlook and

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Speaker 1: the jobs market.

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Speaker 2: The Westpac Melbourne Institute Index of Consumer Sentiment fell half

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Speaker 2: a percent meaning pesimes and has now been the dominant

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Speaker 2: motion for the past two years, and Westpac Senior economist

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Speaker 2: Matthew Hassen says there's little sign of the glumness lifting.

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Speaker 2: Consumers are less worried about interstrates rising and believe the

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Speaker 2: cost of living crisis has eased somewhat. They do fear

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Speaker 2: where the economy is heading, though, and what that means

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Speaker 2: for employment. Survey also shows home by a sentiment improved

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Speaker 2: slightly and house price expectations have cooled in Victoria and

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Speaker 2: New South Wales.

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Speaker 1: Is it glumness?

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Speaker 2: Yes, yes, yes, well done, well picked.

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Speaker 1: I don't think I've ever heard you refer to glumness before.

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Speaker 1: Usually you're you're calling us a miserable bunch whenever you're

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Speaker 1: talking about consumer sentiments. I love the fact that you

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Speaker 1: varied it with glumness today.

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Speaker 2: But isn't glum one of the truly great words? Just

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Speaker 2: four letters sounds what it means?

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Speaker 1: Yeah? Yeah, it is just dripping in meaning.

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Speaker 3: Isn't it just like yeah glum? Yeah?

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Speaker 1: And it's impossible to say with a smile on your.

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Speaker 2: Face now, yeah, And there's no way you can be

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Speaker 2: positive when you say glum.

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Speaker 1: I've never heard of glumness though, Well that might be

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Speaker 1: made up word, but you know, it feels like it

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Speaker 1: should be glumnit toy or something like that.

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Speaker 2: Anyway, Thanks, thanks for picking that up.

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Speaker 1: I'm listening, listening very closely. The news isn't any better either,

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Speaker 1: shown in the business sector, with both sentiments and conditions tumbling.

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Speaker 1: According to the monthly NAB survey.

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Speaker 2: The business sector has been the bright side of the economy,

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Speaker 2: but now, as National Australian Bank Chief economist Ellen Osta says,

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Speaker 2: conditions which messes job sales and profitability, are now fairly

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Speaker 2: clearly below average Compared to the history of the survey.

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Speaker 2: Business confidence has now fallen to negative levels, mening businesses

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Speaker 2: are pessimistic optimistic. There's also a strong drop in the

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Speaker 2: employment gauge, suggesting the post COVID boom period for the

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Speaker 2: labor market is over.

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Speaker 1: Federal Treasurer Jim Chalmers will consider negotiating with the Greens

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Speaker 1: to push through changes to the Reserve Bank after the

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Speaker 1: coalition rejected reforms around the proposed new interest rates setting board.

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Speaker 2: We talked about this yesterday. It's even more so today.

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Speaker 2: The country Central Bank is becoming a political football and

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Speaker 2: that just doesn't help good economic policy making. Yesterday morning,

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Speaker 2: the Shadow Treasurer Angus Taylor said the Coalition will oppose

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Speaker 2: plans to split the nine person Reserve Bank Board into

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Speaker 2: separate committees for interst rate setting and for governance unless

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Speaker 2: the six external board members the current guys make it

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Speaker 2: onto the nine member interest Strait Setting Board. Not much

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Speaker 2: room to move when six is going into nine and

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Speaker 2: not many places left over the proposal. The original proposal

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Speaker 2: at least came from an independent review of the bank

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Speaker 2: last year, and mister Taylor said he'd open the way

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Speaker 2: for an interest rate setting board to be politicized. In fact,

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Speaker 2: what he actually said, and I quote him, it would

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Speaker 2: leave open the option for a stitch up of the

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Speaker 2: Reserve Bank Board with legislation needed to pass Parliament. Dr

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Speaker 2: Chalmers said the coalition's decision was irresponsible and disappointing, and

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Speaker 2: now he's going to consider negotiating with the Greens for

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Speaker 2: their part of The Greens have made it clear that

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Speaker 2: it wants any new legislation to retain the Treasurer's veto

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Speaker 2: power over the Reserve Bank, of power that's there now

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Speaker 2: but has never been used in the sixty four year

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Speaker 2: history of the Central Bank. At the end of the day,

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Speaker 2: the thing about this which I find frustrated. I'm not

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Speaker 2: sure whether splitting the board into an interest rate setting

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Speaker 2: board and a governance board is a good idea or not.

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Speaker 2: But right now all that debate is about point scoring

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Speaker 2: political point scoring, rather than deciding what the best policy is.

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Speaker 2: I find that very frustrating because there are some institutions

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Speaker 2: that Peedicascella made it independent. It should just remain independent

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Speaker 2: and both sides of politics should just work out the

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Speaker 2: best outcome.

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Speaker 3: I'm frustrated by it.

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Speaker 1: You're sounding quite idealistic there sean.

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Speaker 2: True as I was saying, and I'm thinking, really.

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Speaker 1: You're talking about bipartisan cooperation here, and I just it

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Speaker 1: feels like that might be beyond us right now. Perhaps

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Speaker 1: investors mentioned this one at the top of the show.

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Speaker 1: Investors are at the beginning of a dividend bonanza, which

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Speaker 1: is another great word, isn't it? With thirty five billion

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Speaker 1: dollars in payouts due to hit shareholder accounts from now

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Speaker 1: up until October.

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Speaker 2: Payout ratios are up five percent on.

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Speaker 3: A year ago.

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Speaker 2: And if you include all the big four banks, because

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Speaker 2: remember three of them, that's in Australia Bank, westpacin Ain's

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Speaker 2: it had end March balance states, but if you throw those

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Speaker 2: into the mix, the ratio is up seven percent. In short,

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Speaker 2: the major miners cut dividends after a boom prior year,

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Speaker 2: while financials, banks and insurers paid out more to shareholders.

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Speaker 2: According to an analysis from Comset, BHP will pay the

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Speaker 2: biggest total dividend five point five to four billion dollars,

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Speaker 2: even though it cut its payout by ten percent.

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Speaker 3: Next biggest is Commonwealth Bank.

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Speaker 2: Which will pay out four point two billion dollars and dividends,

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Speaker 2: But dividend yields of banks, which measure the payout against

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Speaker 2: the share prices, have fallen that's given the run in

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Speaker 2: bankstocks now. Bank dividend yials traditionally are among the highest

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Speaker 2: in the market, but not anymore because of those share prices.

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Speaker 1: Now. There's plenty going on at News Corp at the moment.

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Speaker 1: Hedge fund Starboard Value has filed a shareholder resolution to

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Speaker 1: eliminate the dual class share structure that allows Rupert Murdoch

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Speaker 1: to control the company.

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Speaker 2: Really interesting. Starboard says there are no reasonable arguments to

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Speaker 2: extend super voting rights and de facto control to the

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Speaker 2: inheritors of a founder. According to report in Reuters, now,

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Speaker 2: currently under the shareholding structure, the ninety three year old

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Speaker 2: mister Murdoch owns an equities take of fourteen percent of

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Speaker 2: News Corps, but has forty percent of the company's voting stock.

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Speaker 2: So they're saying, once he moves on, whatever that means,

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Speaker 2: once he moves on, why should the people who are

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Speaker 2: inheriting his fourteen percent still get forty percent of the

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Speaker 2: company's voting stock. There's also a legal battle going on

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Speaker 2: between mister Murdock and his eldest son Lachlan on one

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Speaker 2: side and the three other children on the other over

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Speaker 2: ongoing control of the Murdoch family trust in that one,

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Speaker 2: mister Murdock wants Lachlan to run the company when he

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Speaker 2: dies rather than any of the other kids. The other

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Speaker 2: kids are perhaps less conservative than Lachlan Rupert Murdoch. Mister

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Speaker 2: Murdock wants News corps conservative political position to be maintained.

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Speaker 2: So that's another court battle going on.

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Speaker 1: Turning twent the National News Now Shawn a big, big

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Speaker 1: day today. The US presidential debate kicks off at eleven

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Speaker 1: am ecent Standard time. It'll take ninety minutes, including two

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Speaker 1: ad breaks, and it's going to be a very different

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Speaker 1: proposition to the first debate.

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Speaker 2: Yes, Donald Trump trounced Joe Biden in the first debate,

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Speaker 2: so much so that the current president pulled out of

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Speaker 2: the race. Carmla Harris is known as a confident debater,

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Speaker 2: but given she is an unknown quantity to many Americans,

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Speaker 2: her performance today is critical in maintaining the support base

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Speaker 2: she's guarded since late July July twenty one, when she entered.

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Speaker 2: The debate will be hosted by America's ABC network. There

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Speaker 2: will be no opening statements, no audience. Each participant will

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Speaker 2: be given two minutes to answer each question. Two minutes

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Speaker 2: for rebuttles. They can each make a two minute closing statement.

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Speaker 2: Neither are allowed any pre written notes. They will get

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Speaker 2: a pen, paper in a bottle of water.

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Speaker 3: Very generous.

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Speaker 2: They can't confer with advisors during ad breaks. And this

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Speaker 2: is the thing reported by Seeing in which.

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Speaker 3: I found in credit.

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Speaker 2: The two have never met. Wow, apparently they're in the

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Speaker 2: same room at the State of the Union but they've

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Speaker 2: actually never met, which really blew me away.

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Speaker 1: When the State of the Union's a big event, there's

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Speaker 1: hundreds and hundreds of people there, so parliament sitting. I

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Speaker 1: am amazed by that.

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Speaker 2: In fact, I find it hard to believe. But that's

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Speaker 2: what's seeing and and saying they've never actually met. Well,

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Speaker 2: you mentioned the first you know, they come in and yeah.

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Speaker 1: And just some of the things that have been said

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Speaker 1: in the past, like when he's questioned kind of whether

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Speaker 1: she is now identifying as a person of color differently,

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Speaker 1: and just things like that. How would you address those

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Speaker 1: things when you meet for the first time.

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Speaker 2: Ah, I don't know. I mean, I suppose it's all politics,

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Speaker 2: but it must be very awkward.

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Speaker 1: Oh, very very uncomfortable, But you know what it'll be.

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Speaker 1: It'll be fascinating viewing.

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Speaker 3: Great for us to watch.

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Speaker 1: We shall be watching indeed now last one sean, this

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Speaker 1: is kind of alarming. A study of adolescent brain development

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Speaker 1: that tested children before and after the COVID nineteen pandemic

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Speaker 1: lockdowns in the US found that girls' brains aged far

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Speaker 1: faster than expected, something the researchers attribute to social isolation.

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Speaker 2: Yes, you started this by saying it's alarming, so I

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Speaker 2: don't know that it is alarming, As the researchers point out,

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Speaker 2: the study comes from the University of Washington.

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Speaker 3: It measured cortical thinning.

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Speaker 2: A process that starts in either late childhood or early

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Speaker 2: adolescens as the brain begins to prune redundant synapses and

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Speaker 2: shrink its out of layer. Thinning of the cortex is

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Speaker 2: not necessarily bad. Some scientists frame the process as the

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Speaker 2: brain rewiring itself as it mature, is increasing its efficiency,

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Speaker 2: but the process is known to accelerate in stressful conditions,

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Speaker 2: and accelerated thinning is correlated with depression and anxiety. According

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Speaker 2: to a report in The New York Times, scans taken

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Speaker 2: in twenty twenty one after shutdowns began to lift so

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Speaker 2: that boys and girls had experienced rapid cortical thinning during

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Speaker 2: the peer period, but the effect was far more notable

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Speaker 2: in girls, whose thinning had accelerated on average by four

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Speaker 2: point two years, ahead of what was expected in boys

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Speaker 2: it was one point four years. The studies author attributed

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Speaker 2: the change to social deprivation caused by the pandemic, which

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Speaker 2: hit adolescent girls harder because they're more dependent on a

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Speaker 2: social interaction, you know, talking through problems with friends as

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Speaker 2: a way to release stress. It's not quite clear that

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Speaker 2: it's a total imit that it's alarming in that this

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Speaker 2: is a process that happens anyway, but certainly it is

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Speaker 2: correlated with depression and anxiety.

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Speaker 1: I think it probably is a little bit alarming that, yeah,

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Speaker 1: it was accelerated so much just because of isolation, That

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Speaker 1: because of an unnatural state for us to be, and

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Speaker 1: we are not meant to be kind of solitary isolated creatures.

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Speaker 1: That because of that, it caused the brain to accelerate

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Speaker 1: in its aging. Oh, I find that fascinating and frankly

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Speaker 1: a little alarmed.

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Speaker 2: Yes, I think you're right. I don't want to be alarmist,

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Speaker 2: but yes, you're right, it is alarming.

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Speaker 1: I don't think I've ever shied away from being alarmist, Sean,

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Speaker 1: jump straight for the headline. All right. Up next is

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Speaker 1: the Fear and Greed Daily Interview. Your guest today Stephen

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Speaker 1: Fennick from tech guide dot com dood au.

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Speaker 2: All about Apple's launch of new devices yesterday, Watches, AirPods, phones,

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00:23:22,400 --> 00:23:24,480
Speaker 2: all those things that you like, and I mean just

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Speaker 2: Steven knows all about. It's some phenomenal information he has

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Speaker 2: about the changes and how they'll affect our everyday lives.

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Speaker 1: Yeah, it is a cracker. It is up next in

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Speaker 1: the Fear and Greed playlist on your podcast platform or

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00:23:35,400 --> 00:23:37,879
Speaker 1: at Fearinggreed dot com doo au, which is where you

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00:23:37,880 --> 00:23:39,960
Speaker 1: sign up for the free weekly newsletter, which is due

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00:23:40,000 --> 00:23:42,040
Speaker 1: out in a few hours. So jump onto that quickly

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Speaker 1: now so that you get this week's edition. Thanks very much, Sean.

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Speaker 3: Thank you, Michael.

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Speaker 1: It is Wednesday, the eleventh of September twenty twenty four.

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00:23:48,480 --> 00:23:51,080
Speaker 1: Make sure you're following the podcast and please join us

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00:23:51,080 --> 00:23:55,280
Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson.

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Speaker 1: That was Fear and Greed. Have a great day.