1 00:00:06,280 --> 00:00:08,840 Speaker 1: Today on Fear and Greed. The house price boom in 2 00:00:08,880 --> 00:00:12,240 Speaker 1: Australia is over, with Sydney and Melbourne both going backwards 3 00:00:12,320 --> 00:00:15,800 Speaker 1: last month. Prime Minister Anthony Albernezi hints that the federal 4 00:00:15,840 --> 00:00:19,479 Speaker 1: election won't be until well until next year, and the 5 00:00:19,560 --> 00:00:22,880 Speaker 1: number of COVID cases surge, plus the ateable Sea green 6 00:00:22,960 --> 00:00:25,919 Speaker 1: lights the Katar Virgin tie up and Donald Trump threatens 7 00:00:25,960 --> 00:00:29,320 Speaker 1: one hundred percent tariffs on some countries. Welcome to Fear 8 00:00:29,320 --> 00:00:31,440 Speaker 1: and Greed. Daily business news for people who make their 9 00:00:31,480 --> 00:00:34,360 Speaker 1: own decisions. It is Monday, the tewod of December twenty 10 00:00:34,400 --> 00:00:37,640 Speaker 1: twenty four. I'm Michael Thompson and good morning Sean Aylmer. 11 00:00:37,960 --> 00:00:39,480 Speaker 2: Good morning Michael Sewan. 12 00:00:39,520 --> 00:00:43,480 Speaker 1: The main story this morning, the house price boom is over, 13 00:00:43,760 --> 00:00:46,920 Speaker 1: with prices across the country flat for the month of November. 14 00:00:47,240 --> 00:00:51,479 Speaker 1: That is the weakest Australia wide results since January last year. 15 00:00:51,800 --> 00:00:55,319 Speaker 2: And November is all important its peak selling season. It's 16 00:00:55,320 --> 00:00:57,920 Speaker 2: the third month of the spring selling season to be specific, 17 00:00:58,240 --> 00:01:01,480 Speaker 2: so it really matters. Cool logic figgers show prices were 18 00:01:01,560 --> 00:01:05,360 Speaker 2: up just to touch across the country twenty two months 19 00:01:05,360 --> 00:01:07,600 Speaker 2: in a row of rises, but probably that was the 20 00:01:07,680 --> 00:01:10,960 Speaker 2: last increase for this cycle, it was only zero point 21 00:01:11,000 --> 00:01:15,039 Speaker 2: one percent. The downturn is gathering speed in Melbourne and 22 00:01:15,160 --> 00:01:19,720 Speaker 2: in Sydney, while even the hot mid tier capital cities Adelaide, 23 00:01:19,720 --> 00:01:23,080 Speaker 2: Brisbane and Perth are losing steam, a big reason why 24 00:01:23,120 --> 00:01:25,640 Speaker 2: prices have come off the boil. Capital city listings are 25 00:01:25,760 --> 00:01:29,640 Speaker 2: much much higher, in fact, sixteen percent higher than three 26 00:01:29,640 --> 00:01:34,240 Speaker 2: months ago. So Melbourne went backwards during November. Over the 27 00:01:34,280 --> 00:01:37,480 Speaker 2: past twelve months, it's now off more than two percent. 28 00:01:37,840 --> 00:01:41,960 Speaker 2: The worst of the capital cities, Sydney went backwards in November, 29 00:01:42,120 --> 00:01:45,440 Speaker 2: first time that's happened for quite a while. It's up 30 00:01:45,560 --> 00:01:48,240 Speaker 2: for the full year, up about three percent, but still 31 00:01:48,280 --> 00:01:51,400 Speaker 2: it went backwards last month in both cities, and of 32 00:01:51,400 --> 00:01:53,600 Speaker 2: course they are the two big cities. The number of 33 00:01:53,680 --> 00:01:57,880 Speaker 2: listings are about ten percent above the long term average. 34 00:01:58,120 --> 00:02:00,760 Speaker 2: There's one other capital city to go backwards last month, Hobar. 35 00:02:01,360 --> 00:02:04,800 Speaker 2: For the year, Canberra is also gone backwards. Best is 36 00:02:04,880 --> 00:02:07,320 Speaker 2: still Perth. In fact for the year it's up twenty 37 00:02:07,320 --> 00:02:09,800 Speaker 2: one percent, but the heat has definitely come out of 38 00:02:09,840 --> 00:02:13,120 Speaker 2: that market. The other interesting trend from the core Logic data, 39 00:02:13,240 --> 00:02:16,400 Speaker 2: regions have tended to be stronger. The regional index is 40 00:02:16,440 --> 00:02:19,280 Speaker 2: actually up more than one percent, whereas it's flat in 41 00:02:19,360 --> 00:02:20,520 Speaker 2: terms of the capital cities. 42 00:02:21,160 --> 00:02:24,120 Speaker 1: I'm still just blown away by the Perth performance overall. 43 00:02:24,440 --> 00:02:27,359 Speaker 1: It is just it is like looking at that when 44 00:02:27,360 --> 00:02:29,720 Speaker 1: you look at house price growth now for the last 45 00:02:29,760 --> 00:02:31,639 Speaker 1: kind of twenty years and look at that into the future, 46 00:02:31,639 --> 00:02:35,400 Speaker 1: you're just going to see this blip, right, this enormous 47 00:02:35,560 --> 00:02:36,440 Speaker 1: jump for Perth. 48 00:02:36,800 --> 00:02:39,440 Speaker 2: Yeah, Perth has a bit of a history of that 49 00:02:39,520 --> 00:02:41,840 Speaker 2: though over the very very long term, and you get 50 00:02:41,880 --> 00:02:44,320 Speaker 2: a lot of because of the mining industry, so it 51 00:02:44,360 --> 00:02:47,000 Speaker 2: really sort of ebbs and flows a fair bit with 52 00:02:47,040 --> 00:02:50,040 Speaker 2: the mining industry. So there's been times the Perth prices 53 00:02:50,120 --> 00:02:53,040 Speaker 2: go through the roof and other times they absolutely sink 54 00:02:53,120 --> 00:02:54,320 Speaker 2: much harder than anywhere else. 55 00:02:54,440 --> 00:02:56,720 Speaker 1: It's amazing. So really, if you kind of take a 56 00:02:56,720 --> 00:02:59,680 Speaker 1: step back, the housing market seems to be heading into 57 00:02:59,680 --> 00:03:02,520 Speaker 1: twenty t twenty five not looking so good then, at 58 00:03:02,600 --> 00:03:04,800 Speaker 1: least relative to the performance of the I've said that 59 00:03:04,880 --> 00:03:06,639 Speaker 1: just the past couple of years really. 60 00:03:06,600 --> 00:03:09,639 Speaker 2: Exactly, and that was demonstrated over the weekend. If we 61 00:03:09,680 --> 00:03:12,560 Speaker 2: look at the auction results core Logic figures the last 62 00:03:12,720 --> 00:03:15,840 Speaker 2: auction weekend of the spring selling season, the national preliminary 63 00:03:15,880 --> 00:03:19,040 Speaker 2: clearance rate was down to sixty three point four percent. 64 00:03:19,639 --> 00:03:22,120 Speaker 2: Best way of what are you laughing at, Mike? 65 00:03:22,400 --> 00:03:24,959 Speaker 1: Could you have said that any more? Slowly? Just then? 66 00:03:25,400 --> 00:03:27,760 Speaker 1: You just I could just see you go, I'm going 67 00:03:27,800 --> 00:03:32,280 Speaker 1: to nail this first time preliminary clearance right like, well done? 68 00:03:32,440 --> 00:03:34,600 Speaker 1: Well please shouldn't have drawn attention to it. I'm not 69 00:03:34,639 --> 00:03:36,480 Speaker 1: probably now distinct ye. 70 00:03:36,080 --> 00:03:40,600 Speaker 2: Slowly or not. The interesting thing was the NPC national 71 00:03:40,680 --> 00:03:45,200 Speaker 2: preliminary clearance rate fell to its lowest level of the year. Michael, 72 00:03:45,320 --> 00:03:48,600 Speaker 2: you are taking the seriousness out of this very very 73 00:03:48,600 --> 00:03:49,360 Speaker 2: important story. 74 00:03:49,400 --> 00:03:49,600 Speaker 1: Sorry. 75 00:03:49,840 --> 00:03:52,040 Speaker 2: Sydney came in at sixty five percent, very weak for 76 00:03:52,080 --> 00:03:55,240 Speaker 2: that city. Melbourne was a little below that. Brisbane was 77 00:03:55,360 --> 00:03:58,160 Speaker 2: just over fifty percent. Adelaide with sixty six percent sounds 78 00:03:58,160 --> 00:04:00,800 Speaker 2: good but not for that city. Act was just over 79 00:04:01,320 --> 00:04:04,400 Speaker 2: was about fifty four percent. Basically, what's happening in the 80 00:04:04,440 --> 00:04:07,040 Speaker 2: market corentfation is holding up and the chance of a 81 00:04:07,120 --> 00:04:11,000 Speaker 2: rate cut anytime in the next six months seems slim. 82 00:04:11,280 --> 00:04:13,200 Speaker 2: We kind of saw that even in fact, on Friday 83 00:04:13,240 --> 00:04:17,360 Speaker 2: A and ztamp Bank of Queensland joined Westpac National Australia Bank, 84 00:04:17,440 --> 00:04:19,760 Speaker 2: saying the earliest there will be a rate cut is 85 00:04:19,839 --> 00:04:23,320 Speaker 2: May next year. We have all this extra supply that 86 00:04:23,320 --> 00:04:26,720 Speaker 2: we've been talking about, there's economic uncertainty and an ongoing 87 00:04:26,760 --> 00:04:31,440 Speaker 2: cost of living crisis. Put all that together, you really 88 00:04:31,440 --> 00:04:35,239 Speaker 2: do have a lid on prices. It's not all negative. Well, 89 00:04:35,760 --> 00:04:38,520 Speaker 2: it's probably quite positive. If you're trying to buy your 90 00:04:38,560 --> 00:04:40,719 Speaker 2: first time this is all good news, really, but for 91 00:04:40,800 --> 00:04:43,680 Speaker 2: we homeowners, we think of it as negative. This still 92 00:04:43,680 --> 00:04:46,520 Speaker 2: remains a housing shortage and so that'll keep a floor 93 00:04:46,680 --> 00:04:49,440 Speaker 2: on losses. So it's not as if the experts are 94 00:04:49,480 --> 00:04:51,279 Speaker 2: saying we're going to end up with prices ten percent 95 00:04:51,320 --> 00:04:54,160 Speaker 2: lower or anything like that. There still is this housing shortage, 96 00:04:54,160 --> 00:04:56,640 Speaker 2: but just for the time being, I think that boom 97 00:04:56,720 --> 00:04:57,040 Speaker 2: is over. 98 00:04:57,640 --> 00:05:00,200 Speaker 1: And of course you're talking about interest rate cuts, and 99 00:05:00,440 --> 00:05:04,000 Speaker 1: politically interest rate cuts matter, don't they And if you 100 00:05:04,040 --> 00:05:06,719 Speaker 1: are the prime minister, you would love an interest rate 101 00:05:06,760 --> 00:05:10,680 Speaker 1: cut just heading into the election because it just it 102 00:05:10,720 --> 00:05:12,520 Speaker 1: makes it look like you are the one delivering to 103 00:05:13,320 --> 00:05:15,360 Speaker 1: people wanting to buy a home, all that kind of thing. 104 00:05:15,600 --> 00:05:18,920 Speaker 1: Prime Minister Anthony Alberzi has indicated that the next federal election, 105 00:05:20,360 --> 00:05:25,200 Speaker 1: federal election that's my preliminary clearance today, will be later 106 00:05:25,560 --> 00:05:28,920 Speaker 1: rather than sooner, suggesting probably in April or a may 107 00:05:28,920 --> 00:05:29,440 Speaker 1: Pole right. 108 00:05:30,160 --> 00:05:33,359 Speaker 2: So, Anthony Alberizi has always talked about the idea that 109 00:05:33,400 --> 00:05:35,760 Speaker 2: he wants four year terms. In three years isn't long 110 00:05:35,880 --> 00:05:38,200 Speaker 2: enough and he wants to run the full three years. 111 00:05:38,320 --> 00:05:41,960 Speaker 2: That's the background to this. Yesterday he was speaking on 112 00:05:42,000 --> 00:05:44,479 Speaker 2: the ABC's Inside His program. He said that Australians have 113 00:05:44,480 --> 00:05:47,680 Speaker 2: a bit of time before going to the polls. Now 114 00:05:47,680 --> 00:05:50,159 Speaker 2: an election must be held by seventeenth of May, a 115 00:05:50,200 --> 00:05:52,120 Speaker 2: bit of time. Well, if you're going to call an 116 00:05:52,120 --> 00:05:55,880 Speaker 2: election January February, that pushes you out till April May. 117 00:05:56,440 --> 00:05:58,560 Speaker 2: At the moment, Parliament is scheduled for two weeks in 118 00:05:58,600 --> 00:06:01,080 Speaker 2: February and the budget is to be delivered on the 119 00:06:01,120 --> 00:06:04,960 Speaker 2: twenty fifth March. Yesterday, mister Albernize said he intended to 120 00:06:04,960 --> 00:06:08,520 Speaker 2: go ahead with those two things. You wouldn't deliver a budget, 121 00:06:08,600 --> 00:06:13,039 Speaker 2: for example, if you're in the middle of an election campaign. 122 00:06:13,600 --> 00:06:15,560 Speaker 2: So if they did do the twenty fifth of March, 123 00:06:15,720 --> 00:06:18,800 Speaker 2: that would let's say six weeks from that, you're really 124 00:06:18,920 --> 00:06:22,960 Speaker 2: at I think the tenth of May is a Saturday, 125 00:06:22,960 --> 00:06:25,640 Speaker 2: so he probably the third or the tenth of May. Anyway. 126 00:06:26,480 --> 00:06:28,920 Speaker 2: He was also asked about the Social media ban for 127 00:06:29,040 --> 00:06:32,279 Speaker 2: under sixteen year olds legislation that passed last year. Mistrailbernize 128 00:06:32,320 --> 00:06:34,680 Speaker 2: said he's prepared to talk to anyone about the ban 129 00:06:35,160 --> 00:06:38,440 Speaker 2: and its implementation, including ex owner Elon Musk. He went 130 00:06:38,480 --> 00:06:40,760 Speaker 2: on to say that mister Musk had his own agenda 131 00:06:41,200 --> 00:06:44,640 Speaker 2: and was entitled to push that agenda. The Prime Minister 132 00:06:44,720 --> 00:06:47,760 Speaker 2: also defended Labour's handling of the economy, saying inflation and 133 00:06:47,920 --> 00:06:52,799 Speaker 2: interest rates go higher earlier in other countries, whereas Australian 134 00:06:52,800 --> 00:06:56,200 Speaker 2: industrates didn't actually peak quite as high, and the inference 135 00:06:56,240 --> 00:06:58,400 Speaker 2: there is though other countries are in front of us 136 00:06:58,440 --> 00:07:00,719 Speaker 2: in terms of dropping rates and we're not right there yet. 137 00:07:00,760 --> 00:07:03,400 Speaker 1: It's going to be an interesting budget, isn't it, Sean, 138 00:07:03,480 --> 00:07:05,960 Speaker 1: because there will be a lot of pressure on Jim 139 00:07:06,040 --> 00:07:09,080 Speaker 1: Chalmers not to deliver a budget that does increase inflation 140 00:07:09,160 --> 00:07:13,120 Speaker 1: or add to inflationary pressure. But a pre election budget 141 00:07:13,160 --> 00:07:15,120 Speaker 1: is typically a big spending budget, isn't. 142 00:07:14,920 --> 00:07:17,360 Speaker 2: It, Tarlie. So if you come in remember last week 143 00:07:17,360 --> 00:07:19,520 Speaker 2: Deloitt Access Economics said that you're going to end up 144 00:07:19,520 --> 00:07:23,080 Speaker 2: with a budget deficit of thirty one billion dollars this 145 00:07:23,160 --> 00:07:25,480 Speaker 2: financial year and about thirty billion dollars into the next. 146 00:07:25,680 --> 00:07:28,440 Speaker 2: So you come into that election cycle, you've got a 147 00:07:28,480 --> 00:07:32,000 Speaker 2: budget deficit that's around that thirty billion dollars mark. There's 148 00:07:32,040 --> 00:07:36,240 Speaker 2: no sign of interest rates falling. It doesn't work very 149 00:07:36,240 --> 00:07:37,000 Speaker 2: well for the government. 150 00:07:37,360 --> 00:07:39,960 Speaker 1: Indeed. All right, let's take a look at local markets. 151 00:07:40,600 --> 00:07:42,720 Speaker 1: Starting locally, where do we finish up on Friday? 152 00:07:43,080 --> 00:07:46,080 Speaker 2: The Assex ended flat on Friday at eighty four hundred 153 00:07:46,080 --> 00:07:49,000 Speaker 2: and thirty six points. That means for the week it 154 00:07:49,080 --> 00:07:51,720 Speaker 2: was up about half a percentage point. Certainly was a 155 00:07:51,920 --> 00:07:55,080 Speaker 2: strong week for the AX. It's been quite a few 156 00:07:55,160 --> 00:07:59,720 Speaker 2: days on Wall Street following last Thursday's Thanksgiving holiday. Brent 157 00:07:59,760 --> 00:08:02,400 Speaker 2: Cruz trading around seventy two US dollars of barrel goals 158 00:08:02,480 --> 00:08:05,640 Speaker 2: just under twenty six sixty and out. It's still pretty 159 00:08:05,720 --> 00:08:08,800 Speaker 2: high and always training just above one hundred US dollars 160 00:08:08,840 --> 00:08:10,840 Speaker 2: a ton, the eusie dollars buying just over sixty five 161 00:08:10,960 --> 00:08:15,080 Speaker 2: US cents, and Bitcoin is fetching ninety six thousan five 162 00:08:15,160 --> 00:08:17,000 Speaker 2: hundred US dollars a unit. 163 00:08:17,320 --> 00:08:19,640 Speaker 1: Coming up after the show, Sean, you have an interview 164 00:08:19,640 --> 00:08:22,880 Speaker 1: coming with Sam Garland, who is the Banking and Capital 165 00:08:22,960 --> 00:08:26,280 Speaker 1: Markets leader at PwC Australia. This is an interesting chat 166 00:08:26,840 --> 00:08:27,200 Speaker 1: it is. 167 00:08:27,240 --> 00:08:31,000 Speaker 2: So he's put together the big four banks results, looked 168 00:08:31,000 --> 00:08:33,520 Speaker 2: at where they're doing well, where they're not doing well, 169 00:08:33,559 --> 00:08:36,680 Speaker 2: but where I found it really interesting. We started talking 170 00:08:36,720 --> 00:08:40,600 Speaker 2: about where do they find growth? Now, these banks are 171 00:08:40,679 --> 00:08:45,240 Speaker 2: extremely expensive relative to other banks overseas. The Commonwealth Bank 172 00:08:45,280 --> 00:08:49,480 Speaker 2: in particular on a historical perspective, is really really costly 173 00:08:49,600 --> 00:08:51,800 Speaker 2: at the moment. So we start talking about how do 174 00:08:51,840 --> 00:08:56,079 Speaker 2: they actually where do they find their bottom line earnings 175 00:08:56,600 --> 00:08:58,880 Speaker 2: going forward? Is it in costs? Is it in revenue? 176 00:08:59,040 --> 00:08:59,920 Speaker 2: It's a great chat. 177 00:09:00,120 --> 00:09:01,720 Speaker 1: Yeah, it is a good one. It's coming up after 178 00:09:01,720 --> 00:09:04,000 Speaker 1: the show. We have plenty still to cover those Sean. 179 00:09:04,040 --> 00:09:05,800 Speaker 1: We've got the a trible c giving the green lights, 180 00:09:05,920 --> 00:09:09,240 Speaker 1: the guitar Virgin tie up, you got COVID cases across 181 00:09:09,240 --> 00:09:11,640 Speaker 1: the country jumping, and we've got to talk about Donald 182 00:09:11,640 --> 00:09:14,640 Speaker 1: Trump's extraordinary demand on bricks nations. That's still to come. 183 00:09:14,640 --> 00:09:15,920 Speaker 1: We'll be back in a moment with the rest of 184 00:09:15,960 --> 00:09:25,720 Speaker 1: the day's business news. Sean. The Competition Watchdog has given 185 00:09:25,720 --> 00:09:30,040 Speaker 1: interim approval for Virgin Australia to partner with Qatar Airways, 186 00:09:30,160 --> 00:09:32,560 Speaker 1: opening the way for the local carrier to start selling 187 00:09:32,559 --> 00:09:33,480 Speaker 1: long haul flights. 188 00:09:33,880 --> 00:09:36,360 Speaker 2: Tickets will go on sale by Christmas, and Virgin will 189 00:09:36,360 --> 00:09:40,000 Speaker 2: operate seven flights a week to Delha using katars, planes, 190 00:09:40,080 --> 00:09:42,840 Speaker 2: crews and pilots. The two carriers have agreed to court 191 00:09:43,080 --> 00:09:46,840 Speaker 2: enforceable undertakings to protect customers. The Competition watch dog said 192 00:09:46,880 --> 00:09:49,439 Speaker 2: the benefits of the type including increased choice for passengers 193 00:09:49,600 --> 00:09:52,520 Speaker 2: and about three billion dollars in economic benefits to Australia 194 00:09:52,600 --> 00:09:56,079 Speaker 2: over the next five years. I love this story. More competition, 195 00:09:56,640 --> 00:09:59,720 Speaker 2: lower prices. We've seen that in the domestic market. We've 196 00:09:59,720 --> 00:10:02,120 Speaker 2: seen that post COVID in the international market. Now that 197 00:10:02,160 --> 00:10:05,720 Speaker 2: we've got Virgin selling guitar flights out of Australia, we're 198 00:10:05,720 --> 00:10:08,200 Speaker 2: going to see more competition, hopefully lower prices. 199 00:10:08,280 --> 00:10:12,360 Speaker 1: Yeah, great for travelers. Online property listings group ARIA has 200 00:10:12,440 --> 00:10:16,240 Speaker 1: sued its main rival, Domain, accusing it of infringing on 201 00:10:16,320 --> 00:10:19,840 Speaker 1: its copyright over property photos and floor plans displayed on 202 00:10:19,880 --> 00:10:20,760 Speaker 1: its website. 203 00:10:20,960 --> 00:10:23,559 Speaker 2: Aria, owner of real estate dot com dot au, has 204 00:10:23,559 --> 00:10:26,319 Speaker 2: alleged in the Federal Court that Domain breached copyright by 205 00:10:26,440 --> 00:10:30,400 Speaker 2: scraping exclusive listings and placing them on Domain's price Finder 206 00:10:30,480 --> 00:10:34,680 Speaker 2: and Insight business platforms, according to the fin Review, but Domain, 207 00:10:34,760 --> 00:10:37,800 Speaker 2: which is defending the claim, argues that Aria's lawsuit is 208 00:10:37,840 --> 00:10:41,400 Speaker 2: a bid to exert uncompetitive market influence as the biggest 209 00:10:41,400 --> 00:10:44,319 Speaker 2: classified its company nationally. Aria is back by News Court, 210 00:10:44,360 --> 00:10:48,160 Speaker 2: while Domain is six percent owned by nine Entertainment. Aria 211 00:10:48,280 --> 00:10:51,319 Speaker 2: is ledging it owns the copyright for images and schematics 212 00:10:51,320 --> 00:10:53,920 Speaker 2: for those one hundred and eighty one listings obtained by 213 00:10:53,960 --> 00:10:58,160 Speaker 2: Domain and used by its analytics service. Ria claims it 214 00:10:58,240 --> 00:11:02,400 Speaker 2: had exclusivity rights third by photographers for the relevant images. 215 00:11:03,320 --> 00:11:05,920 Speaker 1: Sean, we mentioned this one before. There's been a significant 216 00:11:06,040 --> 00:11:10,760 Speaker 1: jump in COVID nineteen hospitalizations and infections across the country, 217 00:11:11,160 --> 00:11:16,199 Speaker 1: and health authorities are urging caution ahead of Christmas festivities. 218 00:11:16,240 --> 00:11:18,400 Speaker 1: It's been a while, isn't it since we've heard a 219 00:11:18,440 --> 00:11:20,240 Speaker 1: warning like this, But it takes us straight back to 220 00:11:20,280 --> 00:11:22,720 Speaker 1: kind of twenty twenty, twenty twenty one. Those days. 221 00:11:22,960 --> 00:11:26,400 Speaker 2: Well, the way I saw this story not that long ago, 222 00:11:27,040 --> 00:11:29,680 Speaker 2: the warnings about Christmas parties weren't about COVID. It was 223 00:11:29,679 --> 00:11:32,480 Speaker 2: about behavior. Nowadays it's all about COVID. 224 00:11:33,040 --> 00:11:35,720 Speaker 1: See, hey, if you just keep your distance, socialist, that's right. 225 00:11:35,760 --> 00:11:37,640 Speaker 1: It kind of takes out a lot of other chares 226 00:11:37,640 --> 00:11:37,959 Speaker 1: as well. 227 00:11:38,000 --> 00:11:40,960 Speaker 2: That's so the number of people hospitalized with the virus 228 00:11:41,040 --> 00:11:45,640 Speaker 2: in Victoria increased by nearly sixty percent between October and November. 229 00:11:46,160 --> 00:11:50,040 Speaker 2: The state's latest COVID nineteen surveillance report says the number 230 00:11:50,040 --> 00:11:53,319 Speaker 2: of cases notified to the department has also increased by 231 00:11:53,320 --> 00:11:56,080 Speaker 2: forty four percent in the past month. According to AAP, 232 00:11:56,720 --> 00:12:00,360 Speaker 2: COVID nineteen infections have increased in Western Australia months of 233 00:12:00,400 --> 00:12:03,319 Speaker 2: relatively low and stable figures. According to the WA Health 234 00:12:03,400 --> 00:12:06,600 Speaker 2: Department data now, New South Wales and Queensland have experienced 235 00:12:06,760 --> 00:12:11,080 Speaker 2: slight increases to reported infections, but their overall numbers of 236 00:12:11,080 --> 00:12:14,680 Speaker 2: COVID nineteen cases remain low. The Federal Department of Health 237 00:12:14,679 --> 00:12:17,000 Speaker 2: and Aged Care vaccination rates were down for all states 238 00:12:17,040 --> 00:12:20,360 Speaker 2: and territories in the November reporting period. That's a concern 239 00:12:20,760 --> 00:12:23,960 Speaker 2: because obviously over Christmas, when people get together and families 240 00:12:24,000 --> 00:12:26,560 Speaker 2: get together, you're more likely to be at risk. 241 00:12:27,320 --> 00:12:30,720 Speaker 1: Shan turning to international news now, and Donald Trump has 242 00:12:30,800 --> 00:12:35,760 Speaker 1: demanded that bricks Nations now bricks as a block of countries. 243 00:12:36,000 --> 00:12:39,920 Speaker 1: And it was originally wasn't it Brazil, Russia, India, China 244 00:12:39,960 --> 00:12:45,040 Speaker 1: and South Africa? But it's expanded since then, hasn't it? 245 00:12:45,040 --> 00:12:47,199 Speaker 1: It has expanded to include kind of Iran and Egypt 246 00:12:47,280 --> 00:12:50,520 Speaker 1: and Ethiopia and the UAE, which completely just destroys the 247 00:12:50,800 --> 00:12:52,199 Speaker 1: bricks kind of initialism. 248 00:12:52,320 --> 00:12:57,120 Speaker 2: It does I mean bricks I EA doesn't work. 249 00:12:57,360 --> 00:13:00,800 Speaker 1: It certainly doesn't. There's too many vowels now. And so 250 00:13:01,000 --> 00:13:05,360 Speaker 1: he's demanding that they not create a currency to replace 251 00:13:05,400 --> 00:13:08,840 Speaker 1: the US dollar. And this is a bit that gets me, 252 00:13:08,920 --> 00:13:12,600 Speaker 1: threatening to impose one hundred percent tariffs on their imports 253 00:13:12,600 --> 00:13:14,040 Speaker 1: if they try so. 254 00:13:14,120 --> 00:13:17,360 Speaker 2: The Group of Emerging Economies has a stated purpose of 255 00:13:17,400 --> 00:13:20,719 Speaker 2: building up an international finance system that is less dependent 256 00:13:21,200 --> 00:13:25,640 Speaker 2: on the US and the European Union. Fair enough Brazil, Russia, India, China, 257 00:13:26,200 --> 00:13:30,600 Speaker 2: South Africa, huge populations, so fair enough that I won't 258 00:13:30,600 --> 00:13:33,040 Speaker 2: have to be so reliant on the US and European Union. 259 00:13:33,880 --> 00:13:36,560 Speaker 2: The US dollar is the overwhelming currency of choice for 260 00:13:36,600 --> 00:13:40,160 Speaker 2: international trade, but bricks nations, particularly Russia, have been pushing 261 00:13:40,200 --> 00:13:44,040 Speaker 2: to find an alternate. Mister Trump's threat against the bricks 262 00:13:44,240 --> 00:13:47,600 Speaker 2: nations come as part of a flurry of trade related 263 00:13:47,640 --> 00:13:51,200 Speaker 2: demands issued by the incoming president from his truth social 264 00:13:51,280 --> 00:13:54,720 Speaker 2: media Accunida the past couple of days. He also dined 265 00:13:54,720 --> 00:13:58,040 Speaker 2: with Canadian President Justin Trudeau over the weekend. He said 266 00:13:58,080 --> 00:14:00,720 Speaker 2: that mister Trudeau had committed to working to address legal 267 00:14:00,720 --> 00:14:03,920 Speaker 2: border crossings and funtional smuggling. That's a condition of the 268 00:14:04,000 --> 00:14:07,280 Speaker 2: US not imposing twenty five percent tariffs on Canada. It 269 00:14:07,400 --> 00:14:10,960 Speaker 2: is just ridiculous. Two weeks ago he was talking about 270 00:14:11,000 --> 00:14:12,840 Speaker 2: ten percent tariffs on China. Now he's talking about one 271 00:14:12,920 --> 00:14:15,719 Speaker 2: hundred percent tariffs on China. If they do something, it 272 00:14:15,800 --> 00:14:18,680 Speaker 2: must be very hard to be an international diplomat to 273 00:14:18,760 --> 00:14:21,640 Speaker 2: know what to take seriously and what not to take seriously. 274 00:14:22,480 --> 00:14:25,640 Speaker 1: I wouldn't even know where to start. One of the 275 00:14:25,640 --> 00:14:27,520 Speaker 1: big winners from the election of Donald Trump in the 276 00:14:27,600 --> 00:14:31,040 Speaker 1: US looks like being Rupert Murdoch's Fox News. 277 00:14:31,680 --> 00:14:35,440 Speaker 2: Interesting this It's captured nearly three quarters of all US 278 00:14:35,560 --> 00:14:39,320 Speaker 2: cable news audiences in the aftermath of Donald Trump's victory, 279 00:14:39,840 --> 00:14:42,880 Speaker 2: as liberal Americans tune out of the former reality stars 280 00:14:42,880 --> 00:14:46,600 Speaker 2: transition to a second term in office. This really hit 281 00:14:46,720 --> 00:14:49,040 Speaker 2: a nerve with me, because when you go out, people 282 00:14:49,120 --> 00:14:53,240 Speaker 2: no longer want to talk about Donald Trump. And I'm 283 00:14:53,800 --> 00:14:56,720 Speaker 2: always following Donald Trump for work, but I actually don't 284 00:14:56,720 --> 00:14:59,360 Speaker 2: want to talk about Donald Trump, and people don't want 285 00:14:59,360 --> 00:15:02,160 Speaker 2: to talk about Donald tr Trump Now, obviously winners the Grinners, 286 00:15:02,360 --> 00:15:06,440 Speaker 2: so Fox viewers love it. Fox's daily audience audiences have 287 00:15:06,560 --> 00:15:10,600 Speaker 2: surged forty percent since the November five vote, while viewership 288 00:15:10,600 --> 00:15:13,800 Speaker 2: of the more left leaning MSNBC CNN they've dropped by 289 00:15:13,840 --> 00:15:17,000 Speaker 2: about or somewhere between thirty twenty seven and thirty eight percent. 290 00:15:17,560 --> 00:15:21,120 Speaker 2: According to Nielsen figures, Fox News averaged two million viewers 291 00:15:21,120 --> 00:15:24,680 Speaker 2: a day from November six to twenty twenty two. That's 292 00:15:24,800 --> 00:15:29,720 Speaker 2: up from one point four million previously during primetime evening hours. 293 00:15:29,720 --> 00:15:32,320 Speaker 2: Since the election, seventy three percent of the title cable 294 00:15:32,360 --> 00:15:37,920 Speaker 2: news audience is watching Fox, just sixteen percent, MSNBC eleven percent. 295 00:15:38,280 --> 00:15:42,400 Speaker 2: CNN winners are definitely Grinners, Michael, It. 296 00:15:42,280 --> 00:15:45,400 Speaker 1: Does seem that way now. Rebel forces have swept into 297 00:15:45,440 --> 00:15:49,680 Speaker 1: Syria's second city, Aleppo, and we're rapidly advancing south. After 298 00:15:49,760 --> 00:15:53,280 Speaker 1: mounting a lightning offensive that poses the biggest threatened years 299 00:15:53,320 --> 00:15:55,240 Speaker 1: to Bashar al Aasad's regime. 300 00:15:55,520 --> 00:15:58,520 Speaker 2: The Syrian Army said that the rebels had been able 301 00:15:58,560 --> 00:16:01,160 Speaker 2: to enter wider areas of a depot city, but were 302 00:16:01,200 --> 00:16:04,400 Speaker 2: unable to secure strongholds because of continued powerful and targeted 303 00:16:04,400 --> 00:16:08,360 Speaker 2: strikes by our armed force. According to the ft It 304 00:16:08,440 --> 00:16:11,440 Speaker 2: added that it was preparing for a counter attack and 305 00:16:11,440 --> 00:16:14,280 Speaker 2: that its forces had engaged in fierce battles in an 306 00:16:14,280 --> 00:16:17,360 Speaker 2: area spanning one hundred klometers in recent days. Now the 307 00:16:17,400 --> 00:16:21,120 Speaker 2: assault comes as Assad faces growing domestic and external pressure 308 00:16:21,680 --> 00:16:25,680 Speaker 2: in a country absolutely shattered by civil war it began 309 00:16:26,080 --> 00:16:30,680 Speaker 2: in twenty eleven with the popular uprising. Assad was able 310 00:16:30,720 --> 00:16:33,640 Speaker 2: to quash the original rebellion with military backing from Russia, 311 00:16:33,760 --> 00:16:38,640 Speaker 2: Iran and Iranian back groups such as Hesbillah. The fighting, 312 00:16:38,720 --> 00:16:41,800 Speaker 2: though in serious civil war, has I mean it's lunching, 313 00:16:41,840 --> 00:16:43,920 Speaker 2: diminished in recent years, with the remnants of the armed 314 00:16:43,920 --> 00:16:46,840 Speaker 2: opposition pushed north towards Turkey. But over the past year, 315 00:16:47,440 --> 00:16:49,880 Speaker 2: Israel of course has stepped up its air strikes on 316 00:16:49,920 --> 00:16:53,800 Speaker 2: Iranian affiliated targets in Syria. It's also launched an offensive 317 00:16:53,800 --> 00:17:00,480 Speaker 2: against Hezbollah in Lebanon. Hence, al Assad's supporters have been 318 00:17:00,720 --> 00:17:04,720 Speaker 2: damaged or weakened, and so rebels are now taking advantage 319 00:17:04,720 --> 00:17:07,560 Speaker 2: of that and creating trouble in Syria. 320 00:17:07,720 --> 00:17:10,399 Speaker 1: Extraordinary times on the global stage, Sean. Now up next 321 00:17:10,560 --> 00:17:14,159 Speaker 1: is the Fear and Greed Daily Interview. Sam Garland, Banking 322 00:17:14,160 --> 00:17:18,600 Speaker 1: and Capital Markets lead leader at PwC Australia. Before that, though, 323 00:17:19,119 --> 00:17:23,880 Speaker 1: we have Fear and Greed's resident economist Stephen Kokulis with 324 00:17:24,080 --> 00:17:26,640 Speaker 1: Fear and Greed the Week Ahead. What's he covering this week, Sean. 325 00:17:26,640 --> 00:17:29,080 Speaker 2: It's a massive week. We've got economic growth figures out 326 00:17:29,080 --> 00:17:32,880 Speaker 2: this week for the September quarter. That's like the biggest 327 00:17:34,480 --> 00:17:37,040 Speaker 2: kind of data drop of the quarter. So you can 328 00:17:37,080 --> 00:17:39,160 Speaker 2: imagine the kook. He's all over it. 329 00:17:39,320 --> 00:17:41,960 Speaker 1: Yeah, he hasn't slept for a week in preparation. 330 00:17:42,480 --> 00:17:43,840 Speaker 2: And he won't sleep for the next week. 331 00:17:44,080 --> 00:17:46,679 Speaker 1: He's very, very excited. That's coming up next, followed by 332 00:17:46,720 --> 00:17:49,200 Speaker 1: the interview with Sam Garland. A couple of good pieces 333 00:17:49,240 --> 00:17:51,840 Speaker 1: of listening on the Fear and Greed playlist on your 334 00:17:51,840 --> 00:17:55,040 Speaker 1: podcast platform or at Fearangreed dot com dot au. Thank 335 00:17:55,080 --> 00:17:56,320 Speaker 1: you very much, Sean, Thank you. 336 00:17:56,359 --> 00:17:56,679 Speaker 2: Michael. 337 00:17:56,920 --> 00:17:59,400 Speaker 1: It is Monday, the two of December twenty twenty four. 338 00:17:59,480 --> 00:18:01,639 Speaker 1: Make sure you're following the podcast and please join us 339 00:18:01,680 --> 00:18:05,800 Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson. 340 00:18:05,840 --> 00:18:09,800 Speaker 1: And that was Fear and Greed. Have a great day.