1 00:00:06,200 --> 00:00:08,640 Michael Thompson: Today on Fear and Greed, Labor and the Coalition under 2 00:00:08,640 --> 00:00:12,280 Michael Thompson: fire over big spending policy announcements after a ratings agency 3 00:00:12,440 --> 00:00:15,640 Michael Thompson: warned on the country's triple A status, the global trade 4 00:00:15,680 --> 00:00:19,400 Michael Thompson: war starts to hit local companies, and the TikTok trend 5 00:00:19,640 --> 00:00:23,959 Michael Thompson: that triggered a pistachio craze sending prices soaring. Plus James 6 00:00:24,000 --> 00:00:26,840 Michael Thompson: Hardie backflips on a shareholder vote and the value of 7 00:00:26,840 --> 00:00:30,600 Michael Thompson: a Donald Trump meme coin saws. Welcome to Fear and Greed. 8 00:00:30,680 --> 00:00:33,000 Michael Thompson: Daily business news for people who make their own decisions. 9 00:00:33,040 --> 00:00:36,160 Michael Thompson: It is Tuesday, the twenty ninth of April twenty twenty five. 10 00:00:36,600 --> 00:00:38,800 Michael Thompson: Are Michael Thompson and Good Morning, Sean Aylmer. 11 00:00:38,560 --> 00:00:40,240 Sean Aylmer: Good morning, Michael. 12 00:00:40,240 --> 00:00:42,920 Michael Thompson: Sean, another day, another Sterling edition of the Fear and 13 00:00:42,960 --> 00:00:44,360 Michael Thompson: Greed Daily newsletter. 14 00:00:44,680 --> 00:00:47,760 Sean Aylmer: Sterling. I think that's right. If you read that this morning, 15 00:00:48,840 --> 00:00:51,040 Sean Aylmer: by the time you get to your desk, you'll know 16 00:00:51,159 --> 00:00:53,599 Sean Aylmer: all the important stuff that you need to know to 17 00:00:53,640 --> 00:00:55,320 Sean Aylmer: do your job. Maybe not all of it to be 18 00:00:55,320 --> 00:00:57,480 Sean Aylmer: perfectly honest, but at least you'll be across the news. 19 00:00:57,600 --> 00:00:59,319 Michael Thompson: May'll be able to kind of bluff your way through 20 00:00:59,320 --> 00:01:01,720 Michael Thompson: a conversation by the water cooler. And that's the thing 21 00:01:01,760 --> 00:01:04,800 Michael Thompson: like the newsletter only takes three minutes to read, probably 22 00:01:04,880 --> 00:01:07,039 Michael Thompson: I think, sir, and it will kind of give you 23 00:01:07,120 --> 00:01:08,720 Michael Thompson: the bits and pieces that you do need to know. 24 00:01:08,760 --> 00:01:10,800 Michael Thompson: If you head along to Fear and Greed dot com 25 00:01:10,840 --> 00:01:13,039 Michael Thompson: dot au, pop your email addressing sign up for the 26 00:01:13,120 --> 00:01:15,240 Michael Thompson: free daily newsletter. I'll put a link in today's show 27 00:01:15,240 --> 00:01:17,960 Michael Thompson: notes as well, and thank you to everyone who has subscribed. 28 00:01:18,000 --> 00:01:21,320 Michael Thompson: The response to it has been fantastic, Sean the main 29 00:01:21,360 --> 00:01:24,280 Michael Thompson: story this morning. Labor says it will save six point 30 00:01:24,319 --> 00:01:27,480 Michael Thompson: four billion dollars over the next four years and raise 31 00:01:27,840 --> 00:01:32,160 Michael Thompson: seven hundred and sixty million dollars through higher student visa 32 00:01:32,200 --> 00:01:36,360 Michael Thompson: fees to pay for spending promises made during the election campaign. 33 00:01:36,480 --> 00:01:40,479 Michael Thompson: This is after a major ratings agency warned about Australia's 34 00:01:40,520 --> 00:01:41,759 Michael Thompson: triple A rating treasure. 35 00:01:41,840 --> 00:01:44,280 Sean Aylmer: Jin Chalmers said the bottom line has improved by a 36 00:01:44,319 --> 00:01:48,400 Sean Aylmer: billion dollars when taking into account new spending initiatives announced 37 00:01:48,520 --> 00:01:52,200 Sean Aylmer: during the campaign. That's because of these savings he's talking 38 00:01:52,240 --> 00:01:55,720 Sean Aylmer: about now. Opposition leader Peter Dutton savings plan is based 39 00:01:55,800 --> 00:01:59,000 Sean Aylmer: on cutting the public service the common of public service 40 00:01:59,280 --> 00:02:02,240 Sean Aylmer: by about forty one thousand people, saving ten billion dollars 41 00:02:02,280 --> 00:02:06,480 Sean Aylmer: over five years. Charmers wasn't backwards in coming forwards around 42 00:02:06,480 --> 00:02:10,480 Sean Aylmer: the two options, save money on consultants or sack public servants. 43 00:02:10,600 --> 00:02:13,200 Sean Aylmer: That's how charm has put it. The announcement came after 44 00:02:13,320 --> 00:02:16,320 Sean Aylmer: ratings agency S and P, one of the Big Three, 45 00:02:16,680 --> 00:02:19,920 Sean Aylmer: warned that Australia's credit rating might be at risk if 46 00:02:20,040 --> 00:02:25,120 Sean Aylmer: election spending promises resulted in large budget deficits. That caused 47 00:02:25,160 --> 00:02:27,400 Sean Aylmer: Peter Dutton to claim that the Coalition is the Party 48 00:02:27,520 --> 00:02:32,079 Sean Aylmer: of responsible economic management. The economy, Michael, hasn't really been 49 00:02:32,120 --> 00:02:35,960 Sean Aylmer: a huge focus of the campaign. It's been more about 50 00:02:35,960 --> 00:02:39,119 Sean Aylmer: the cost of living. I think an interest rate cut 51 00:02:39,160 --> 00:02:41,799 Sean Aylmer: in February expectations of another one in three weeks have 52 00:02:41,880 --> 00:02:45,040 Sean Aylmer: certainly helped the government, but we haven't really gotten into 53 00:02:45,080 --> 00:02:48,600 Sean Aylmer: the details of the economy too much. I suspect what's 54 00:02:48,600 --> 00:02:52,200 Sean Aylmer: happening in the US and the trade war. It's really 55 00:02:52,200 --> 00:02:56,880 Sean Aylmer: helping incumbents. I think it's helping Anthony Abernezy overnight Kenada voted. 56 00:02:57,160 --> 00:03:01,200 Sean Aylmer: It certainly helped the Mark Carney, the incumbent there now. 57 00:03:01,240 --> 00:03:03,440 Sean Aylmer: The latest news poll from The Australian shows the ALP 58 00:03:03,560 --> 00:03:05,919 Sean Aylmer: ahead on the two party preferred basis fifty two to 59 00:03:05,919 --> 00:03:09,080 Sean Aylmer: forty eight percent. Anthony Albanese well ahead in terms of 60 00:03:09,120 --> 00:03:12,640 Sean Aylmer: the preferred prime minister. As we have said for about 61 00:03:12,639 --> 00:03:15,640 Sean Aylmer: the last four weeks, it is Labors to lose at 62 00:03:15,639 --> 00:03:16,040 Sean Aylmer: this point. 63 00:03:16,280 --> 00:03:19,760 Michael Thompson: Indeed, and really both leaders spent the day criss crossing 64 00:03:19,840 --> 00:03:23,120 Michael Thompson: the country. The focus is very much on the more 65 00:03:23,160 --> 00:03:24,679 Michael Thompson: marginal seats at this stage. 66 00:03:24,760 --> 00:03:28,600 Sean Aylmer: It is including Anthony Alberanese visiting Peter Dutton's electric because 67 00:03:29,400 --> 00:03:34,560 Sean Aylmer: ALP actually think they've got a chance of knocking Dutton off. 68 00:03:35,640 --> 00:03:37,720 Sean Aylmer: Don't know whether that's true or not. We're going to 69 00:03:37,760 --> 00:03:40,240 Sean Aylmer: expect plenty of criss crossing over the next four days 70 00:03:40,240 --> 00:03:43,920 Sean Aylmer: as they visit these marginal seats. Debate continued yesterday on 71 00:03:44,160 --> 00:03:47,280 Sean Aylmer: the Welcome to Country issue how it should be used, 72 00:03:47,520 --> 00:03:52,280 Sean Aylmer: Dunton basically saying it's overused. Also discussion about why Anthony 73 00:03:52,280 --> 00:03:55,840 Sean Aylmer: Albanese he doesn't have Donald Trump's phone number that I 74 00:03:55,840 --> 00:03:59,080 Sean Aylmer: don't know whether you saw it, and Albanze has said, well, 75 00:03:59,120 --> 00:04:01,880 Sean Aylmer: I don't know that he's got a far hold on 76 00:04:02,760 --> 00:04:05,640 Sean Aylmer: anyone who uses social media like Donald Trump used the 77 00:04:05,640 --> 00:04:07,680 Sean Aylmer: social media as a fine That's right. 78 00:04:07,720 --> 00:04:09,600 Michael Thompson: You can just picture him just tapping out his messages 79 00:04:09,640 --> 00:04:11,960 Michael Thompson: on truth social He's using his fine that's right. 80 00:04:12,000 --> 00:04:15,600 Sean Aylmer: Peter Dunt called the ABC and The Guardian the hate media, 81 00:04:15,960 --> 00:04:19,360 Sean Aylmer: while Anthony Albernese he said schools should should show the 82 00:04:19,360 --> 00:04:23,640 Sean Aylmer: TV show adolescents. Have you seen that? No? I haven't disturbing, Okay, 83 00:04:23,800 --> 00:04:28,960 Sean Aylmer: disturbing all right. Anthony Alberizi talked about Peter Dunn. He 84 00:04:29,000 --> 00:04:32,160 Sean Aylmer: said he build the cat during the debate on Sunday night. 85 00:04:32,360 --> 00:04:34,960 Sean Aylmer: I have never heard that term. Oh really, no, did 86 00:04:34,960 --> 00:04:36,160 Sean Aylmer: you know what? Do you know what it means? 87 00:04:36,440 --> 00:04:40,440 Michael Thompson: I have heard it used many times, particularly in my 88 00:04:40,839 --> 00:04:43,839 Michael Thompson: talk radio days. It was used frequently, and it was 89 00:04:43,920 --> 00:04:47,080 Michael Thompson: used in politics that it was always like a warning, 90 00:04:47,480 --> 00:04:51,720 Michael Thompson: like that someone has has I'm stumbling all. 91 00:04:51,640 --> 00:04:53,480 Sean Aylmer: Over, I'm going to jump in. So it's from a 92 00:04:53,480 --> 00:04:57,040 Sean Aylmer: fable I googled it where a bunch of mice decided 93 00:04:57,040 --> 00:04:59,240 Sean Aylmer: to put a bell on a cat so that they 94 00:04:59,279 --> 00:05:03,800 Sean Aylmer: know when it's but some mouse, individual mouse has to 95 00:05:03,839 --> 00:05:05,880 Sean Aylmer: do the danger work and put it on the cat. 96 00:05:06,240 --> 00:05:07,480 Michael Thompson: Is that what it was from? 97 00:05:07,560 --> 00:05:11,279 Sean Aylmer: Yeah, So the idea is when you build, when you 98 00:05:11,360 --> 00:05:14,520 Sean Aylmer: build the cat, you're actually it's good for the group, 99 00:05:15,480 --> 00:05:17,560 Sean Aylmer: bad for the individual, dangerous for the individual. 100 00:05:17,680 --> 00:05:20,240 Michael Thompson: Oh there you go, a couple of highlights for me 101 00:05:20,440 --> 00:05:22,839 Michael Thompson: from the last kind of thirty six hours or so, 102 00:05:23,680 --> 00:05:26,640 Michael Thompson: like the fallout. I've never seen so much discussion about 103 00:05:26,640 --> 00:05:30,039 Michael Thompson: the price of eggs as as we then saw yesterday 104 00:05:30,920 --> 00:05:34,480 Michael Thompson: following the debate the previous night where Peter Dutton wasn't 105 00:05:34,520 --> 00:05:37,360 Michael Thompson: able to name how did he hit four dollars four 106 00:05:37,360 --> 00:05:40,280 Michael Thompson: dollars twenty It wasn't able to name it accurately, Sean. 107 00:05:40,360 --> 00:05:42,000 Michael Thompson: So yeah, we are going to be seeing an awful 108 00:05:42,040 --> 00:05:43,800 Michael Thompson: lot over the next few days, and it just keeps 109 00:05:43,839 --> 00:05:45,679 Michael Thompson: on going. It's becoming a bit of a circus really. 110 00:05:46,320 --> 00:05:50,480 Michael Thompson: Away from politics. James Hardy Industries says it will not 111 00:05:51,000 --> 00:05:55,000 Michael Thompson: ask to be exempted from ASX rules after its primary 112 00:05:55,000 --> 00:05:57,479 Michael Thompson: listing shifts to New York, or try to delist itself 113 00:05:57,480 --> 00:06:00,600 Michael Thompson: from the local boss without asking for shareholder orprov So. 114 00:06:00,600 --> 00:06:03,000 Sean Aylmer: This has been the biggest corporate story running around over 115 00:06:03,000 --> 00:06:06,000 Sean Aylmer: the past couple of weeks. It's something of a back 116 00:06:06,000 --> 00:06:09,039 Sean Aylmer: down from James Hardy after the AX said it will 117 00:06:09,080 --> 00:06:13,680 Sean Aylmer: review what approvals are required to delist from the AX. 118 00:06:13,960 --> 00:06:17,320 Sean Aylmer: It follows the outcry after James Hardy outlined fourteen billion 119 00:06:17,360 --> 00:06:20,360 Sean Aylmer: dollar merger plane with American group AZC now as part 120 00:06:20,360 --> 00:06:23,400 Sean Aylmer: of the d L Hardy which has substantial operations in 121 00:06:23,440 --> 00:06:26,400 Sean Aylmer: North America, said it would shift its primary listing to 122 00:06:26,520 --> 00:06:30,240 Sean Aylmer: Wall Street. Local shareholders in the company weren't going to 123 00:06:30,279 --> 00:06:33,880 Sean Aylmer: get a vote on that now. Clearly, if you want 124 00:06:33,880 --> 00:06:35,919 Sean Aylmer: to invest in Australian company and suddenly you're investing in 125 00:06:36,000 --> 00:06:38,920 Sean Aylmer: US company, people are not happy. Yesterday, James Hardy said 126 00:06:38,920 --> 00:06:41,720 Sean Aylmer: it would hold a shareholder vote before making any decision 127 00:06:41,800 --> 00:06:45,719 Sean Aylmer: to change its AX listing status, which is essentially a 128 00:06:45,760 --> 00:06:46,159 Sean Aylmer: back down. 129 00:06:46,560 --> 00:06:49,760 Michael Thompson: Speaking of the ASEX, how did the local market perform yesterday? 130 00:06:49,960 --> 00:06:52,240 Sean Aylmer: The S and PIX two hundred closed up zero point 131 00:06:52,320 --> 00:06:55,200 Sean Aylmer: four percent to just under eight thousand points, highest closes 132 00:06:55,240 --> 00:06:57,360 Sean Aylmer: and more than a month strong end to Wall Street 133 00:06:57,400 --> 00:06:59,719 Sean Aylmer: out of the week. Kend helped out so too hopes 134 00:06:59,760 --> 00:07:04,040 Sean Aylmer: that negotiations around tariff's are occurring. Also, a stimulus package 135 00:07:04,080 --> 00:07:06,680 Sean Aylmer: out of Beijing or an expected stimulus package out of 136 00:07:06,680 --> 00:07:10,280 Sean Aylmer: Beijing helped the local market. Energy and techtocks did best, 137 00:07:10,320 --> 00:07:13,480 Sean Aylmer: while the material sub index was the only one within 138 00:07:13,520 --> 00:07:16,080 Sean Aylmer: the BOSS to go backwards. Among the large caps, the 139 00:07:16,080 --> 00:07:18,680 Sean Aylmer: biggest two com Wealth Bank and BHP both fill more 140 00:07:18,720 --> 00:07:21,360 Sean Aylmer: than one percent. You know you're going to struggle to 141 00:07:21,400 --> 00:07:23,360 Sean Aylmer: make your market do too well, and the two big 142 00:07:23,360 --> 00:07:26,720 Sean Aylmer: guys are going backwards. Otherwise, National Australian Bank, Where's Farmers 143 00:07:26,760 --> 00:07:29,520 Sean Aylmer: A and z CSL, Woodside Aristocrat Leisure? They all did 144 00:07:29,560 --> 00:07:30,040 Sean Aylmer: pretty well. 145 00:07:30,440 --> 00:07:32,320 Michael Thompson: What about international markets? Much going on. 146 00:07:32,520 --> 00:07:34,800 Sean Aylmer: The price of gold continues to fall, having hit a 147 00:07:34,880 --> 00:07:38,560 Sean Aylmer: record of three five hundred US dollars announced last Wednesday, 148 00:07:38,600 --> 00:07:41,800 Sean Aylmer: It's down to around thirty two seventy US announce still 149 00:07:41,840 --> 00:07:45,160 Sean Aylmer: really high, but about six percent off its previous peak. 150 00:07:45,560 --> 00:07:49,440 Sean Aylmer: Helping sentiment, as in the positive sentiment that pushes the 151 00:07:49,480 --> 00:07:53,880 Sean Aylmer: price of gold lower. That's contradictory helping the general sentiment. 152 00:07:55,600 --> 00:07:59,040 Sean Aylmer: Draft framework from the Trump administration to handle negotiations with 153 00:07:59,240 --> 00:08:02,120 Sean Aylmer: eighteen age countries. Some of those Asian countries we hit 154 00:08:02,160 --> 00:08:05,240 Sean Aylmer: with very big tariffs. Market watches expect some of the 155 00:08:05,360 --> 00:08:07,520 Sean Aylmer: nations to strike a deal with the US before the 156 00:08:07,640 --> 00:08:10,560 Sean Aylmer: end of the ninety day tariff pause. Oil is holding 157 00:08:10,680 --> 00:08:13,800 Sean Aylmer: steady around sixty seven US olds a barrel cruse, heading 158 00:08:13,800 --> 00:08:16,000 Sean Aylmer: for the biggest monthly loss since twenty twenty two, though 159 00:08:16,160 --> 00:08:18,640 Sean Aylmer: that'd be at the moment's down ten percent. During the 160 00:08:18,680 --> 00:08:22,520 Sean Aylmer: month of April, osidollar's buying about sixty four US cents. 161 00:08:23,200 --> 00:08:28,440 Michael Thompson: Speaking of tariff's, Sean fantastic interview coming up today after 162 00:08:28,480 --> 00:08:32,240 Michael Thompson: the show. You're speaking with Tim Harcourt, Professor Tim Harcourt, 163 00:08:32,280 --> 00:08:33,880 Michael Thompson: the airport economist. 164 00:08:33,800 --> 00:08:38,480 Sean Aylmer: Very good man, Tim, very good man, incredibly capable of 165 00:08:38,559 --> 00:08:43,480 Sean Aylmer: turning economics into English, perhaps more than most. So we 166 00:08:43,559 --> 00:08:47,760 Sean Aylmer: asked him about the sort of can he make sense 167 00:08:48,280 --> 00:08:52,840 Sean Aylmer: of Donald Trump's tariffs and what they mean for Australia 168 00:08:53,559 --> 00:08:56,960 Sean Aylmer: and what means for Australia politically as well. So there's 169 00:08:57,000 --> 00:09:00,719 Sean Aylmer: plenty in all that, and he explains he's take on it, 170 00:09:01,480 --> 00:09:04,040 Sean Aylmer: and it's just a great check because he's such a 171 00:09:04,360 --> 00:09:06,360 Sean Aylmer: raconteur at the end of the day. 172 00:09:06,480 --> 00:09:08,920 Michael Thompson: Yeah. And it also then goes on to talk about 173 00:09:08,920 --> 00:09:12,480 Michael Thompson: the opportunities for Australian businesses in other markets like India 174 00:09:12,559 --> 00:09:14,200 Michael Thompson: as well, which is something that he's done a lot 175 00:09:14,240 --> 00:09:18,839 Michael Thompson: on lately through his work the airport Economists. So it's 176 00:09:18,840 --> 00:09:20,640 Michael Thompson: a great conversation. It's coming up after the show, but 177 00:09:20,679 --> 00:09:22,320 Michael Thompson: don't go anywhere. We'll be back in a moment. With 178 00:09:22,400 --> 00:09:32,200 Michael Thompson: the rest of the day's business news, Shawn. Reports of 179 00:09:32,240 --> 00:09:35,720 Michael Thompson: local companies being disrupted by the US China trade war 180 00:09:35,840 --> 00:09:39,520 Michael Thompson: are trickling out, with Flight Center downgrading it's full year 181 00:09:39,520 --> 00:09:40,880 Michael Thompson: profit forecast. 182 00:09:40,440 --> 00:09:42,960 Sean Aylmer: It's really interesting because we thought that most of the 183 00:09:42,960 --> 00:09:45,400 Sean Aylmer: downgrades be happening so of the second half of this 184 00:09:45,559 --> 00:09:49,240 Sean Aylmer: year next year, we're already seeing it. So yesterday chief 185 00:09:49,280 --> 00:09:53,560 Sean Aylmer: executive Graham Turner, chief executive of flight Center, said things 186 00:09:53,679 --> 00:09:56,480 Sean Aylmer: could get worse before they get better. Leisure bookings to 187 00:09:56,520 --> 00:09:59,640 Sean Aylmer: the US are soft. Business travel bookings are stoff in 188 00:09:59,800 --> 00:10:02,720 Sean Aylmer: a flight Center says it's taking measures to whether the 189 00:10:02,720 --> 00:10:05,800 Sean Aylmer: impact of the US tariffs. Investors like what they heard. 190 00:10:06,040 --> 00:10:08,280 Sean Aylmer: The company's share price actually close up half of percent. 191 00:10:08,800 --> 00:10:12,520 Sean Aylmer: So what Graham Turner said, flight Center's busiest months of 192 00:10:12,600 --> 00:10:16,600 Sean Aylmer: May in June and heading into May in June. All 193 00:10:16,600 --> 00:10:20,320 Sean Aylmer: this uncertainty is really hurting the business. So it's not 194 00:10:20,360 --> 00:10:23,080 Sean Aylmer: going to achieve the target it's underlying profit target that 195 00:10:23,120 --> 00:10:25,800 Sean Aylmer: it thought it would. However, it has announced a bunch 196 00:10:25,840 --> 00:10:29,800 Sean Aylmer: of measures to cut costs, including redundancies in non customer 197 00:10:29,800 --> 00:10:30,560 Sean Aylmer: facing areas. 198 00:10:30,760 --> 00:10:32,840 Michael Thompson: It's interesting what you said there about the fact that 199 00:10:32,880 --> 00:10:36,679 Michael Thompson: flight Center are seeing softer bookings to the US, because you. 200 00:10:36,600 --> 00:10:39,120 Sean Aylmer: And I were speaking about on that yesterday. 201 00:10:39,240 --> 00:10:42,560 Michael Thompson: About because the fact that the Qatar Virgin Australia tie 202 00:10:42,600 --> 00:10:46,080 Michael Thompson: up hasn't yet seen lower airfares, but it's to Europe 203 00:10:46,240 --> 00:10:48,800 Michael Thompson: because everyone is heading over in that direction. There might 204 00:10:48,840 --> 00:10:52,520 Michael Thompson: be a fewer. Really, the US is not on the 205 00:10:52,559 --> 00:10:54,400 Michael Thompson: travel agenda for a lot of people, and that backs 206 00:10:54,440 --> 00:10:56,200 Michael Thompson: that up what you're saying about. Flight Center must. 207 00:10:56,120 --> 00:10:58,680 Sean Aylmer: Check the airfares to the US just in case. 208 00:10:58,800 --> 00:11:02,120 Michael Thompson: That's a very good idea on Another company's earnings hit 209 00:11:02,120 --> 00:11:05,280 Michael Thompson: by the tariff war is Linus rare Earths, which yesterday 210 00:11:05,320 --> 00:11:08,840 Michael Thompson: flagged lower output after missing March quarter revenue expectations. 211 00:11:09,200 --> 00:11:11,400 Sean Aylmer: Yes, the devil's in the detail in this one, and 212 00:11:11,440 --> 00:11:13,360 Sean Aylmer: that's why Linus to share price jump more than three 213 00:11:13,400 --> 00:11:16,280 Sean Aylmer: percent yesterday. Linus is one of the few big producers 214 00:11:16,320 --> 00:11:20,520 Sean Aylmer: of rare earths outside China now. Beijing recently tightened controls 215 00:11:20,559 --> 00:11:23,480 Sean Aylmer: of the sale of rare earths in retaliation to the 216 00:11:23,520 --> 00:11:26,800 Sean Aylmer: Trump tariffs. Rare earths are vital for the production of 217 00:11:26,840 --> 00:11:30,440 Sean Aylmer: a bunch of things, including electronics to fence electric vehicles. 218 00:11:30,880 --> 00:11:34,520 Sean Aylmer: The chief executive of Liners, Amanda Lacayes, said the trade 219 00:11:34,640 --> 00:11:37,960 Sean Aylmer: war is actually an opportunity for the company. It's seeking 220 00:11:38,000 --> 00:11:41,360 Sean Aylmer: to find new buyers wanting to avoid China. That's why 221 00:11:41,400 --> 00:11:42,520 Sean Aylmer: it share price jumped. 222 00:11:42,880 --> 00:11:46,880 Michael Thompson: Palette maker Brambles, which is a company that whenever I 223 00:11:46,960 --> 00:11:50,320 Michael Thompson: mention it, your eyes light are brambles. I've never seen 224 00:11:50,320 --> 00:11:53,400 Michael Thompson: someone get so excited about a company that hammers bits 225 00:11:53,400 --> 00:11:55,760 Michael Thompson: of wood together and ship stuff around the world. 226 00:11:56,120 --> 00:11:58,600 Sean Aylmer: You know, when consumers are buying stuff, you need pallets 227 00:11:58,640 --> 00:12:02,160 Sean Aylmer: to ship them, but consume is aren't buying. They had 228 00:12:02,160 --> 00:12:04,640 Sean Aylmer: to Downgravee yesterday on the back of that, pushing its 229 00:12:04,640 --> 00:12:05,880 Sean Aylmer: share price down five percent. 230 00:12:06,000 --> 00:12:08,719 Michael Thompson: There you go, see your eyes have like there is 231 00:12:08,760 --> 00:12:09,800 Michael Thompson: a Starkle. 232 00:12:09,440 --> 00:12:11,680 Sean Aylmer: Company and that also many years ago they lost a 233 00:12:11,720 --> 00:12:13,360 Sean Aylmer: million palettes, and I always think that's one of the 234 00:12:13,360 --> 00:12:15,920 Sean Aylmer: great corporate stories. How can you lose a million palettes? 235 00:12:16,040 --> 00:12:19,120 Michael Thompson: Yeah, yeah, just just tucked away. I've seen that people 236 00:12:19,160 --> 00:12:22,040 Michael Thompson: have started using them for Like you get a palette, 237 00:12:22,160 --> 00:12:24,680 Michael Thompson: you put it in your garden shed, hammer it like 238 00:12:24,720 --> 00:12:26,560 Michael Thompson: screw it into the wall, and then you put down 239 00:12:26,640 --> 00:12:29,200 Michael Thompson: like inside it so vertically use that to put your 240 00:12:29,200 --> 00:12:32,280 Michael Thompson: garden shovels and your pitch for my garden forks and things. 241 00:12:32,440 --> 00:12:36,240 Sean Aylmer: I had one in my bedroom. I'm sorry, I was 242 00:12:36,280 --> 00:12:37,240 Sean Aylmer: at university, that's the way. 243 00:12:37,400 --> 00:12:38,160 Michael Thompson: So excited about that. 244 00:12:38,240 --> 00:12:45,320 Sean Aylmer: Yeah, no university. I was holding up the mattress. Oh 245 00:12:45,559 --> 00:12:47,040 Sean Aylmer: so basic, so basic. 246 00:12:47,520 --> 00:12:52,680 Michael Thompson: Okay, Moving away from brambles, and palettes. Finally, Sean the 247 00:12:52,720 --> 00:12:57,320 Michael Thompson: big supermarkets Wors and Coals have been pressured into giving 248 00:12:57,360 --> 00:13:01,240 Michael Thompson: an update about the shortage on shells of pistacio nuts. 249 00:13:01,679 --> 00:13:05,679 Sean Aylmer: Pistachia hasn't been the hottest flavor in the world, Michael. 250 00:13:06,080 --> 00:13:10,319 Sean Aylmer: After the Duviai chocolate trend hit, TikTok Now, an influencer 251 00:13:10,360 --> 00:13:14,400 Sean Aylmer: in Dubai, created this thick chocolate bar filled with pistachio 252 00:13:14,520 --> 00:13:16,640 Sean Aylmer: cream that was back in twenty twenty one. Didn't do 253 00:13:16,720 --> 00:13:18,320 Sean Aylmer: much for a couple of years. It took off in 254 00:13:18,360 --> 00:13:21,920 Sean Aylmer: twenty twenty three when her name is Maria the hero 255 00:13:22,440 --> 00:13:25,839 Sean Aylmer: to Baio based Egyptian born, she's credited with making the bar. 256 00:13:26,679 --> 00:13:29,280 Sean Aylmer: Her initial video has been viewed one hundred and twenty 257 00:13:29,320 --> 00:13:34,440 Sean Aylmer: five million times, triggering the pistacio craze, so much so 258 00:13:35,120 --> 00:13:38,960 Sean Aylmer: that there's no like in Woolies and Coals now sandwich spreads, 259 00:13:39,160 --> 00:13:42,640 Sean Aylmer: ice creams, but pistachio nuts are in short supply now. 260 00:13:42,640 --> 00:13:45,640 Sean Aylmer: The US is the biggest supplier, had a bad season 261 00:13:46,360 --> 00:13:50,240 Sean Aylmer: and there's all the price of the nuts, which actually 262 00:13:50,240 --> 00:13:52,840 Sean Aylmer: they're not nuts, believe or not. They're actually seeds of 263 00:13:52,840 --> 00:13:56,320 Sean Aylmer: a pistachio tree, not the nuts. Gone from twelve dollars 264 00:13:56,400 --> 00:14:00,440 Sean Aylmer: a pound to sixteen dollars a pound. The good news 265 00:14:00,480 --> 00:14:03,240 Sean Aylmer: is that Willis and Cohals reckon, They've got enough pistarios 266 00:14:03,280 --> 00:14:07,040 Sean Aylmer: to go around. I'm not so sure our locals. Will 267 00:14:07,200 --> 00:14:10,000 Sean Aylmer: was here. I went looking for them, couldn't find them. 268 00:14:10,240 --> 00:14:12,640 Michael Thompson: Really doing a bit of research. 269 00:14:13,240 --> 00:14:13,720 Sean Aylmer: I love this. 270 00:14:14,240 --> 00:14:15,120 Michael Thompson: That's a great story. 271 00:14:15,160 --> 00:14:16,040 Sean Aylmer: It is a great story. 272 00:14:16,120 --> 00:14:19,280 Michael Thompson: Oh wow, going viral to that extent one hundred and 273 00:14:19,320 --> 00:14:23,720 Michael Thompson: twenty five million views, extraordinary. Turning to international news now, 274 00:14:23,720 --> 00:14:27,480 Michael Thompson: and President Donald Trump says that his sweeping tariffs would 275 00:14:27,480 --> 00:14:30,040 Michael Thompson: help him reduce income taxes for people making less than 276 00:14:30,080 --> 00:14:32,880 Michael Thompson: two hundred thousand US dollars a year, in an apparent 277 00:14:32,920 --> 00:14:36,800 Michael Thompson: effort to reduce really what would be public anxiety over 278 00:14:36,840 --> 00:14:37,880 Michael Thompson: his economic agenda. 279 00:14:38,000 --> 00:14:41,880 Sean Aylmer: Trump's previously argued that tariff revenue could replace income taxes, 280 00:14:41,880 --> 00:14:45,600 Sean Aylmer: though economists have questioned those claims. On his Truth social network, 281 00:14:45,680 --> 00:14:48,120 Sean Aylmer: he said, and I quote when tariff's cut in, many 282 00:14:48,160 --> 00:14:53,720 Sean Aylmer: people's income taxes will be substantially reduced, maybe even completely eliminated. 283 00:14:53,760 --> 00:14:55,960 Sean Aylmer: Focus will be on people making less than two hundred 284 00:14:56,000 --> 00:14:58,920 Sean Aylmer: thousand dollars a year end quote Now CBS News poll 285 00:14:59,000 --> 00:15:01,520 Sean Aylmer: released over the weekend and said sixty nine percent of 286 00:15:01,520 --> 00:15:05,960 Sean Aylmer: Americans believe that Trump administration isn't focused on lowering prices. 287 00:15:06,000 --> 00:15:08,800 Sean Aylmer: According to a report on Bloomberg, approval of Trump's handling 288 00:15:08,800 --> 00:15:11,000 Sean Aylmer: of the economy in the Polar client to forty two percent, 289 00:15:11,360 --> 00:15:13,440 Sean Aylmer: compared with fifty one percent in early March. 290 00:15:13,800 --> 00:15:17,240 Michael Thompson: Just quickly. Chinese officials yesterday reiterated their plan to strength 291 00:15:17,320 --> 00:15:20,120 Michael Thompson: and support for employment and the economy, a move Sean 292 00:15:20,160 --> 00:15:21,720 Michael Thompson: which could have benefits for Australia. 293 00:15:21,800 --> 00:15:25,760 Sean Aylmer: The government will fully prepare contingency plans and constantly improve 294 00:15:25,840 --> 00:15:30,640 Sean Aylmer: the policy toolbox for stabilizing employment and the economy, according 295 00:15:30,640 --> 00:15:32,800 Sean Aylmer: to the chair of the National Development and Reform Commission. 296 00:15:32,960 --> 00:15:36,640 Sean Aylmer: The comments add to Chinese policy makers repeated attempts to 297 00:15:36,680 --> 00:15:39,080 Sean Aylmer: reassure the public that China will take measures to aid 298 00:15:39,160 --> 00:15:42,440 Sean Aylmer: growth locally. Investors are hoping for a stimulus package out 299 00:15:42,480 --> 00:15:45,160 Sean Aylmer: of Beijing to offset the damage of the Trump trade war. 300 00:15:45,360 --> 00:15:47,880 Michael Thompson: Well last one, and this is pretty amazing. The value 301 00:15:47,880 --> 00:15:51,920 Michael Thompson: of Donald Trump's meme coin swed more than fifty percent 302 00:15:52,080 --> 00:15:54,600 Michael Thompson: in one session last week after the issuers of the 303 00:15:54,640 --> 00:15:58,640 Michael Thompson: cryptocurrency said that the US president would have dinner with 304 00:15:58,840 --> 00:16:01,440 Michael Thompson: the top two hundred twenty holders next month. 305 00:16:01,640 --> 00:16:04,800 Sean Aylmer: No conflict of interest here mark none whatsoever. The group 306 00:16:04,840 --> 00:16:06,800 Sean Aylmer: would be invited to a private dinner at the Trump 307 00:16:06,880 --> 00:16:10,200 Sean Aylmer: National Golf Club in Washington on May twenty two to 308 00:16:10,320 --> 00:16:13,520 Sean Aylmer: hear Trump talk about the future of crypto. The organizers 309 00:16:13,520 --> 00:16:17,600 Sean Aylmer: say the twenty five people who own the most of 310 00:16:17,840 --> 00:16:21,040 Sean Aylmer: Trump's coins will also be invited to a pre dinner 311 00:16:21,080 --> 00:16:24,240 Sean Aylmer: reception and a VIP tour of the White House the 312 00:16:24,280 --> 00:16:27,800 Sean Aylmer: following day. The move, which came as traders for preparing 313 00:16:27,840 --> 00:16:31,640 Sean Aylmer: for a further release of dollar Trump tokens onto the market, 314 00:16:31,960 --> 00:16:35,000 Sean Aylmer: helped drive its price as high as fourteen dollars seventy, 315 00:16:35,040 --> 00:16:37,280 Sean Aylmer: which is the highest level since early March, according to 316 00:16:37,360 --> 00:16:40,920 Sean Aylmer: data from coinbase. The coin's definitely been controversial since it 317 00:16:40,960 --> 00:16:44,360 Sean Aylmer: was launched days before the president's inauguration, went from about 318 00:16:44,360 --> 00:16:48,160 Sean Aylmer: six bucks to about seventy five dollars, sparking accusations from 319 00:16:48,160 --> 00:16:53,040 Sean Aylmer: cryptocurrency experts that the incoming president was exploiting his supporter's 320 00:16:53,160 --> 00:16:57,800 Sean Aylmer: enthusiasm for financial gain. Surely not. Analysis by The Financial 321 00:16:57,880 --> 00:17:01,840 Sean Aylmer: Times estimates that Trump's crypto project made at least three 322 00:17:01,960 --> 00:17:03,760 Sean Aylmer: hundred and fifty million dollars from the launch of the 323 00:17:03,760 --> 00:17:07,080 Sean Aylmer: token in January. Nice Little Side Hustle, Nice side hustle. 324 00:17:07,080 --> 00:17:09,360 Sean Aylmer: I whish I had one. How about a dollar? Fear 325 00:17:09,400 --> 00:17:13,679 Sean Aylmer: and Greed. Yeah, yeah, go know it. It starts at 326 00:17:13,680 --> 00:17:16,320 Sean Aylmer: two bucks. Finished the three cents. 327 00:17:16,680 --> 00:17:18,160 Michael Thompson: I thought, here we go, three dollars. 328 00:17:18,440 --> 00:17:18,800 Sean Aylmer: I love it. 329 00:17:19,080 --> 00:17:21,000 Michael Thompson: Just dollar Ai, elma, imagine that. 330 00:17:22,520 --> 00:17:23,280 Sean Aylmer: I would buy that. 331 00:17:23,800 --> 00:17:25,119 Michael Thompson: Actually, that's terrible advice. 332 00:17:25,160 --> 00:17:27,840 Sean Aylmer: Actually, do not do anything I do with clearly not 333 00:17:27,920 --> 00:17:29,159 Sean Aylmer: an investing podcast. 334 00:17:29,600 --> 00:17:31,560 Michael Thompson: I'm just judging by the fact that we're tossing around 335 00:17:31,560 --> 00:17:33,720 Michael Thompson: crypto ideas at the end of the show. Do not 336 00:17:33,840 --> 00:17:36,280 Michael Thompson: follow that advice. Up next is the Fear and Greed 337 00:17:36,359 --> 00:17:40,000 Michael Thompson: Daily Interview. Your guest today, Tim Harcourt, the airport economist, 338 00:17:40,080 --> 00:17:42,480 Michael Thompson: great conversation. It's coming up in the Fear and Greed 339 00:17:42,480 --> 00:17:45,560 Michael Thompson: playlist on your podcast platform or at Fearangreed dot com todayu, 340 00:17:45,560 --> 00:17:47,879 Michael Thompson: which is where you sign up for our free daily 341 00:17:48,080 --> 00:17:50,080 Michael Thompson: newsletter and keep an eye on your playlist as well. 342 00:17:50,119 --> 00:17:52,040 Michael Thompson: For a new episode of ask Fear and Greed around 343 00:17:52,119 --> 00:17:52,760 Michael Thompson: midday today. 344 00:17:52,800 --> 00:17:54,000 Sean Aylmer: Thank you, Sean fan you Michael. 345 00:17:54,040 --> 00:17:56,720 Michael Thompson: It's Tuesday, the twenty ninth of April twenty twenty five. 346 00:17:56,720 --> 00:17:58,639 Michael Thompson: Make sure you following the podcast and please join us 347 00:17:58,640 --> 00:18:02,399 Michael Thompson: online on LinkedIn, Instagram, ex TikTok and Facebook. A'm Michael Thompson, 348 00:18:02,400 --> 00:18:06,240 Michael Thompson: and that was beer and greed. Have a great day.