1 00:00:06,160 --> 00:00:08,680 Speaker 1: This is the weekend edition of Fear and Greed business 2 00:00:08,720 --> 00:00:11,240 Speaker 1: news you can use. I'm Michael Thompson and good morning, 3 00:00:11,320 --> 00:00:12,080 Speaker 1: Sean Alman. 4 00:00:12,320 --> 00:00:13,360 Speaker 2: Good morning, Michael. 5 00:00:13,680 --> 00:00:15,360 Speaker 1: Sew on our weekend Joe's all about the two of 6 00:00:15,440 --> 00:00:17,880 Speaker 1: us each nominating what we think is the biggest business 7 00:00:17,880 --> 00:00:21,079 Speaker 1: story of the yawn in the middle of the non 8 00:00:21,280 --> 00:00:25,960 Speaker 1: do that. No, what I was doing was limbering up, Sean. 9 00:00:26,280 --> 00:00:29,160 Speaker 1: I was I was stretching. I was stretching. 10 00:00:29,200 --> 00:00:29,840 Speaker 2: Apologies. 11 00:00:29,840 --> 00:00:32,199 Speaker 1: That's all right, apologies, because this is a battle. You 12 00:00:32,280 --> 00:00:34,440 Speaker 1: need to limber up for this because we are going 13 00:00:34,520 --> 00:00:37,040 Speaker 1: head to head to decide the biggest story of the week, 14 00:00:37,360 --> 00:00:41,199 Speaker 1: the most remarkable story of the week, a mystery category, 15 00:00:41,200 --> 00:00:44,120 Speaker 1: and our favorite story. We are joined by a judge 16 00:00:44,120 --> 00:00:46,080 Speaker 1: to pick a winner every week, and that judges our 17 00:00:46,120 --> 00:00:48,840 Speaker 1: Fear and Greed colleague Adam Lang Adam, good morning. 18 00:00:49,320 --> 00:00:51,840 Speaker 3: Good morning, Michael, Good morning Sean. Adam. 19 00:00:51,880 --> 00:00:54,160 Speaker 1: Do you have criteria you're looking for this morning? I 20 00:00:54,200 --> 00:00:56,280 Speaker 1: ask you that knowing that you have criteria, They're the 21 00:00:56,280 --> 00:00:58,640 Speaker 1: same criteria every week. But just in case as someone 22 00:00:58,680 --> 00:01:00,920 Speaker 1: listening today that goes, what is what's this fella looking for? 23 00:01:01,320 --> 00:01:01,640 Speaker 1: Take us? 24 00:01:01,680 --> 00:01:05,600 Speaker 3: Okay, economic impact, That's what we want from our stories 25 00:01:05,640 --> 00:01:09,440 Speaker 3: of the week topicality and timeliness. Of course, a little 26 00:01:09,480 --> 00:01:11,880 Speaker 3: bit of playing to my subjective bias would be nice. 27 00:01:12,160 --> 00:01:15,440 Speaker 3: And the strong suit of melodrama strong suit for one 28 00:01:15,440 --> 00:01:15,640 Speaker 3: of you. 29 00:01:15,800 --> 00:01:19,959 Speaker 1: Anyway, it's worth like three percent of the overall score, 30 00:01:20,000 --> 00:01:23,280 Speaker 1: as you've revealed recently, when I gave everything to melodrama 31 00:01:23,319 --> 00:01:26,440 Speaker 1: and you just it meant nothing to you, meant wuld. 32 00:01:26,280 --> 00:01:26,959 Speaker 3: Be that high. 33 00:01:27,840 --> 00:01:32,160 Speaker 2: Here we go, Well, cad No, I was going to 34 00:01:32,160 --> 00:01:33,920 Speaker 2: go into this thing about how you always get these 35 00:01:34,000 --> 00:01:36,200 Speaker 2: high marks and your stories are crap, but the melodrama 36 00:01:36,240 --> 00:01:40,160 Speaker 2: is great, So melodrama must be actually rated fairly highly. 37 00:01:40,240 --> 00:01:43,000 Speaker 2: But I don't know, you know what. I couldn't be 38 00:01:43,040 --> 00:01:43,720 Speaker 2: bothered going there. 39 00:01:44,040 --> 00:01:47,720 Speaker 1: It's too early to get bitter, Sean. Just give us 40 00:01:47,760 --> 00:01:48,600 Speaker 1: your bigger story. 41 00:01:49,160 --> 00:01:52,640 Speaker 2: The economy. The economy. The economy GDP figgs this week 42 00:01:52,960 --> 00:01:56,760 Speaker 2: expanding and a two point one percent clip consumers, business, 43 00:01:56,840 --> 00:02:00,400 Speaker 2: government all driving growth. The bad news is and fation 44 00:02:00,520 --> 00:02:04,840 Speaker 2: pressures are rising. Forget the idea of an interest rate 45 00:02:04,920 --> 00:02:08,760 Speaker 2: cut anytime soon. In fact, the market's priced in chance 46 00:02:08,760 --> 00:02:13,040 Speaker 2: of an interest rate high in February and definitely by 47 00:02:13,160 --> 00:02:15,160 Speaker 2: the end of next year. Growth for the quarter was 48 00:02:15,240 --> 00:02:18,600 Speaker 2: zero point four percent, fueled by highest spending in businesses, 49 00:02:18,639 --> 00:02:21,800 Speaker 2: particularly data centers. What was probably most interesting about this 50 00:02:22,240 --> 00:02:28,000 Speaker 2: the number itself was solid without being great, but there's 51 00:02:28,040 --> 00:02:31,680 Speaker 2: this reduction in inventories and just the way that the 52 00:02:31,720 --> 00:02:36,400 Speaker 2: GDP accounts are put together. A reduction in inventories people 53 00:02:36,440 --> 00:02:39,280 Speaker 2: are selling more stuff. You would think would be a 54 00:02:39,320 --> 00:02:43,760 Speaker 2: plus for the GDP, it's actually a minus minus zero 55 00:02:43,840 --> 00:02:49,480 Speaker 2: point five. So if you had that as flat, you 56 00:02:49,560 --> 00:02:52,360 Speaker 2: would have would have had a quarterly growth rate of 57 00:02:52,480 --> 00:02:55,120 Speaker 2: zero point nine percent. Annualize that what you're at three 58 00:02:55,120 --> 00:02:58,440 Speaker 2: point six percent. Wow, you have an economy on the 59 00:02:58,480 --> 00:03:02,240 Speaker 2: way up and running. We then had a household spending 60 00:03:02,360 --> 00:03:06,000 Speaker 2: data that was really strong that came in on Thursday, 61 00:03:06,120 --> 00:03:09,639 Speaker 2: just under one percent for the month of October, very 62 00:03:09,720 --> 00:03:13,280 Speaker 2: very strong. In fact, you just got this economy flying. 63 00:03:13,320 --> 00:03:16,200 Speaker 2: And forget interest rate cats. People are now starting to 64 00:03:16,200 --> 00:03:21,239 Speaker 2: talk about interest rate hikes done dusted. Inside a mind 65 00:03:21,320 --> 00:03:23,959 Speaker 2: and a half the beat that. 66 00:03:24,200 --> 00:03:27,280 Speaker 1: Mickey t goodness me, what clock were you using? That 67 00:03:27,360 --> 00:03:31,920 Speaker 1: was not a minute and a half. That was steady, steady, steady. 68 00:03:31,960 --> 00:03:34,320 Speaker 1: But a big story. It is a big story, just 69 00:03:34,360 --> 00:03:37,360 Speaker 1: a long one. Look, the biggest story. 70 00:03:37,000 --> 00:03:38,840 Speaker 2: No, no, no, no, no, I take offense at that was 71 00:03:38,880 --> 00:03:42,600 Speaker 2: actually a minute and twenty one seconds honestly felt a 72 00:03:42,600 --> 00:03:43,880 Speaker 2: lot longer. Sure, there we go. 73 00:03:44,040 --> 00:03:47,720 Speaker 1: I'm sorry if time started for you. A heck a 74 00:03:47,840 --> 00:03:52,119 Speaker 1: heck of a week in politics, massive, massive for government, 75 00:03:52,400 --> 00:03:55,440 Speaker 1: massive for what it means for the future of Australia. 76 00:03:55,480 --> 00:03:57,440 Speaker 1: This is big picture stuff. This is not kind of 77 00:03:57,480 --> 00:03:59,800 Speaker 1: like piddling the class. No, it's not. 78 00:04:00,320 --> 00:04:02,559 Speaker 2: You just did an omnibus omnibus. 79 00:04:02,720 --> 00:04:04,960 Speaker 1: I mean broadly, you did one story with a couple 80 00:04:04,960 --> 00:04:07,360 Speaker 1: of little elements, and that's exactly what I'm doing. So 81 00:04:07,840 --> 00:04:09,840 Speaker 1: let me just give you the headlines, Adam, because I 82 00:04:09,840 --> 00:04:12,920 Speaker 1: know that you're a You just you want the cake, 83 00:04:13,000 --> 00:04:16,120 Speaker 1: not the recipe. Okay. So the federal government announced that 84 00:04:16,160 --> 00:04:18,920 Speaker 1: it's going to create an independent agency to manage defense projects. 85 00:04:18,920 --> 00:04:24,280 Speaker 1: This is the biggest overhaul of the department in fifty years. 86 00:04:24,640 --> 00:04:27,960 Speaker 1: That is half a century. That's five decades. That's a 87 00:04:28,000 --> 00:04:31,360 Speaker 1: long time, right. The next the next thing, that's just one. 88 00:04:31,360 --> 00:04:33,800 Speaker 1: That would be the biggest story on its own, potentially, 89 00:04:33,880 --> 00:04:37,120 Speaker 1: except for then the government finally released its two year 90 00:04:37,160 --> 00:04:40,440 Speaker 1: old review into jobs for Mates. This is to deal 91 00:04:40,480 --> 00:04:44,039 Speaker 1: with these fears of quote overpaid political hacks one minute 92 00:04:44,200 --> 00:04:46,640 Speaker 1: being parachuted into public roles. I'm going to get this on, 93 00:04:46,920 --> 00:04:51,280 Speaker 1: but happily. I'm sure we're all encouraged to know that 94 00:04:51,279 --> 00:04:54,400 Speaker 1: they've rejected many of the tougher recommendations, So don't worry. 95 00:04:54,440 --> 00:04:55,800 Speaker 1: Not too much changes. 96 00:04:55,440 --> 00:05:00,919 Speaker 2: Comingicted, rejected, redacted, rejected, reject. I thought you said redact. 97 00:05:01,000 --> 00:05:05,200 Speaker 1: No, they're rejected. So and you just gave me a 98 00:05:05,240 --> 00:05:07,520 Speaker 1: time extension because of your interjection. 99 00:05:07,640 --> 00:05:09,200 Speaker 2: Well you pass my time already. 100 00:05:10,000 --> 00:05:15,000 Speaker 1: Oh God. Just some days, Sean Aylmer just wakes up 101 00:05:15,040 --> 00:05:17,520 Speaker 1: and decides I'm going to be a pennant today, and 102 00:05:17,560 --> 00:05:19,400 Speaker 1: today is one of those days where you just get 103 00:05:19,400 --> 00:05:22,160 Speaker 1: out of the bed and he's like, ah, I'm gonna 104 00:05:22,200 --> 00:05:25,560 Speaker 1: be really annoying this morning. This is one of Michael 105 00:05:25,640 --> 00:05:29,039 Speaker 1: off the path the next the next elements of this 106 00:05:29,120 --> 00:05:33,279 Speaker 1: one story you still going at yes, shut up, Adam. 107 00:05:33,560 --> 00:05:37,120 Speaker 1: Health Minister Mark Butler confirmed that Australia is in talks 108 00:05:37,160 --> 00:05:39,800 Speaker 1: with Washington about drug pricing, assigned that the US may 109 00:05:39,800 --> 00:05:43,560 Speaker 1: be pushing for higher payments under the PBS. Then we 110 00:05:43,600 --> 00:05:46,520 Speaker 1: had Richard Miles, Defense Minister saying he has received the 111 00:05:46,520 --> 00:05:50,520 Speaker 1: Pentagon's review into Aucust and the US is completely supportive 112 00:05:50,680 --> 00:05:54,360 Speaker 1: of the project, which is enormously significant for our economy, 113 00:05:54,600 --> 00:05:58,039 Speaker 1: for the future of Australia's defense, because we are going 114 00:05:58,080 --> 00:06:00,480 Speaker 1: to spend was at three hundred and something billy dollars 115 00:06:00,480 --> 00:06:03,520 Speaker 1: on submarines. Over the next little while, Canberra launched a 116 00:06:03,560 --> 00:06:07,080 Speaker 1: ten million dollar ad blitz to promote next week's social 117 00:06:07,080 --> 00:06:10,200 Speaker 1: media band for under sixteens, more platforms potentially going to 118 00:06:10,200 --> 00:06:12,039 Speaker 1: be added to that, and then a minor one that 119 00:06:12,120 --> 00:06:15,159 Speaker 1: came up the extraordinary hundred million dollars spent on a 120 00:06:15,240 --> 00:06:18,720 Speaker 1: new website for the Bureau of Meteorology, drawing attention this 121 00:06:18,800 --> 00:06:23,640 Speaker 1: week to what one senator described as quote massive feeding 122 00:06:23,880 --> 00:06:26,520 Speaker 1: on the public sector by the big consulting firms. I 123 00:06:26,520 --> 00:06:28,680 Speaker 1: would love to go into detail on all of these, 124 00:06:28,720 --> 00:06:33,000 Speaker 1: but sure, sure, there's a vain three minutes. There is 125 00:06:33,040 --> 00:06:36,640 Speaker 1: a vain throbbing minutes for right now, and I'm like, 126 00:06:36,720 --> 00:06:39,800 Speaker 1: I don't want to cause some kind of medical episode, Adam, 127 00:06:39,880 --> 00:06:40,600 Speaker 1: give us a judge. 128 00:06:40,680 --> 00:06:42,800 Speaker 2: That's that's the only the only reason that's there is 129 00:06:42,800 --> 00:06:45,280 Speaker 2: because I actually said the household spending zero point nine 130 00:06:45,279 --> 00:06:47,719 Speaker 2: percent or one point three percent of October just a clarification, 131 00:06:48,000 --> 00:06:52,120 Speaker 2: in fact, not even a clarification of correction three minutes 132 00:06:52,200 --> 00:06:53,240 Speaker 2: no longer now. 133 00:06:53,360 --> 00:06:57,039 Speaker 1: Just drop off. It's been a massive week in politics, 134 00:06:57,040 --> 00:06:59,120 Speaker 1: and the thing is, all of these are news stories 135 00:06:59,200 --> 00:07:01,880 Speaker 1: that happened. This such a big week for big picture stuff, 136 00:07:02,320 --> 00:07:05,680 Speaker 1: all of which shape the future of this great nation. 137 00:07:05,760 --> 00:07:11,600 Speaker 3: Adam, yes, but none of which add up to as 138 00:07:11,680 --> 00:07:12,840 Speaker 3: much as Sean's story. 139 00:07:13,160 --> 00:07:19,800 Speaker 2: Unfortunately, we always get these comments saying, oh, Michael, the 140 00:07:19,840 --> 00:07:22,720 Speaker 2: man of the people, you've done poorly. It's unfair. How 141 00:07:22,760 --> 00:07:25,680 Speaker 2: come Adam is so mean to you? Right? Actually, after 142 00:07:25,760 --> 00:07:29,080 Speaker 2: this particular judgment, I actually might join the crowd. 143 00:07:31,480 --> 00:07:34,440 Speaker 1: I have had a couple of conversations this week with 144 00:07:34,560 --> 00:07:36,080 Speaker 1: individuals who have come up to me. 145 00:07:36,520 --> 00:07:38,800 Speaker 3: I've been getting some feedback again who have. 146 00:07:38,880 --> 00:07:43,320 Speaker 1: Just direct you are robbed on the weekend edition. And 147 00:07:43,360 --> 00:07:46,480 Speaker 1: they're not just being nice. This is a genuinely held opinion. 148 00:07:46,720 --> 00:07:47,760 Speaker 2: They're being a bit nice. 149 00:07:47,880 --> 00:07:51,520 Speaker 1: No. Look, it's the beginning of the coup, Adam. I 150 00:07:51,520 --> 00:07:55,200 Speaker 1: guess like these things start just with little comments whispered 151 00:07:55,360 --> 00:07:59,680 Speaker 1: in alleyways, and then all of a sudden you're marching 152 00:07:59,680 --> 00:08:00,400 Speaker 1: on the streets. 153 00:08:00,600 --> 00:08:02,400 Speaker 2: Suddenly you got Jean val John out there. 154 00:08:02,480 --> 00:08:04,480 Speaker 1: Yes, Ricade, here we go. 155 00:08:06,040 --> 00:08:09,160 Speaker 3: But the GDP number was good, right, and most of 156 00:08:09,200 --> 00:08:11,640 Speaker 3: it's coming from the private sector would seem to mean 157 00:08:11,720 --> 00:08:16,040 Speaker 3: good news outside of government. And gosh, the household spending 158 00:08:16,120 --> 00:08:20,080 Speaker 3: data that's strong too. And so yeah, there's a cost 159 00:08:20,080 --> 00:08:23,080 Speaker 3: of living crisis, but really, how bad is it? 160 00:08:23,360 --> 00:08:23,440 Speaker 2: So? 161 00:08:24,600 --> 00:08:27,600 Speaker 3: Could interest rates come up? They can? And that has 162 00:08:27,640 --> 00:08:29,040 Speaker 3: to be the biggest story of the week. 163 00:08:30,640 --> 00:08:35,000 Speaker 2: There's a cost of living crisis, but how bad is it? Yeah? 164 00:08:35,040 --> 00:08:35,720 Speaker 1: How bad is it? 165 00:08:35,760 --> 00:08:36,080 Speaker 3: Really? 166 00:08:37,360 --> 00:08:45,240 Speaker 2: Numbers? There's going to be a lot of listeners actually 167 00:08:45,240 --> 00:08:46,880 Speaker 2: having a cost of living crisis out there. 168 00:08:47,000 --> 00:08:50,000 Speaker 3: Oh yeah, sure, but the aggregate number is healthy. 169 00:08:50,640 --> 00:08:53,800 Speaker 2: Yeah, But we're not an aggregate, adam. We are individual people. 170 00:08:54,480 --> 00:08:58,080 Speaker 2: You in your high flutant house in the high flutin suburb, 171 00:08:58,160 --> 00:09:00,679 Speaker 2: in that high flutin city, and it's wonderful country of 172 00:09:00,679 --> 00:09:03,880 Speaker 2: Australia that you live in. Might be okay there, right, 173 00:09:03,960 --> 00:09:07,040 Speaker 2: you can afford the six dollars cappuccino. Not everyone can. 174 00:09:07,480 --> 00:09:08,080 Speaker 2: Let's move on. 175 00:09:08,240 --> 00:09:12,240 Speaker 1: Let's go most remarkable story. I'm going to go first 176 00:09:12,280 --> 00:09:13,079 Speaker 1: on this one. 177 00:09:12,840 --> 00:09:16,480 Speaker 2: You go, and there's a theme to this. We have colluded. 178 00:09:17,480 --> 00:09:20,360 Speaker 1: You have to pick your favorite of these two. Right, 179 00:09:21,000 --> 00:09:25,479 Speaker 1: Most remarkable was the Boss of the Future Fund defending 180 00:09:26,320 --> 00:09:29,880 Speaker 1: the spending of twenty thousand dollars to send his executive 181 00:09:29,920 --> 00:09:35,680 Speaker 1: assistant on a hotel scooping trip and one other trip 182 00:09:35,679 --> 00:09:39,840 Speaker 1: as well business class flights for two people, two people 183 00:09:40,240 --> 00:09:43,760 Speaker 1: to assess accommodation options and negotiate room rates. And Senator 184 00:09:43,840 --> 00:09:46,680 Speaker 1: David Pocock I think he said what everyone was thinking, 185 00:09:46,720 --> 00:09:49,920 Speaker 1: what we are all thinking. Why couldn't this have been 186 00:09:49,960 --> 00:09:53,080 Speaker 1: done over the phone? And he did ask, and I 187 00:09:53,120 --> 00:09:57,800 Speaker 1: love this was she checking the firmness of the beds, right, hold. 188 00:09:57,640 --> 00:10:00,640 Speaker 2: On, hold on. These are people, These are people making 189 00:10:00,679 --> 00:10:04,120 Speaker 2: decisions with about billions of dollars of our money. They 190 00:10:04,160 --> 00:10:05,800 Speaker 2: want to be they want to be well rested when 191 00:10:05,840 --> 00:10:06,720 Speaker 2: they're making those calls. 192 00:10:06,720 --> 00:10:10,120 Speaker 1: That's right, that's right, And those decisions that could also 193 00:10:10,200 --> 00:10:15,800 Speaker 1: be made over zoom. Who knows CEO Raphael aren't told 194 00:10:15,840 --> 00:10:20,240 Speaker 1: centered estimates. The trip delivered savings of thirty thousand dollars 195 00:10:21,040 --> 00:10:25,200 Speaker 1: and ensured hotels were in safe places within cities because 196 00:10:25,200 --> 00:10:28,559 Speaker 1: you can't look up kind of where a hotel is. 197 00:10:28,520 --> 00:10:30,599 Speaker 2: On Google Maps or anything like. It's just how to 198 00:10:30,679 --> 00:10:34,240 Speaker 2: use chat GPT to say is Hell's kitchen safe in 199 00:10:34,280 --> 00:10:34,680 Speaker 2: New York? 200 00:10:34,760 --> 00:10:36,959 Speaker 1: And you can't ask someone just on the phone kind 201 00:10:37,000 --> 00:10:39,280 Speaker 1: of hey, what's it like around there or anything like that. 202 00:10:39,520 --> 00:10:41,920 Speaker 1: No one's ever been there before. It's entirely new thing 203 00:10:42,679 --> 00:10:43,160 Speaker 1: she got. 204 00:10:43,520 --> 00:10:46,560 Speaker 2: And I wonder where the EA actually got some sort 205 00:10:46,600 --> 00:10:50,679 Speaker 2: of extra extra danger payment for visiting areas that were 206 00:10:50,720 --> 00:10:54,360 Speaker 2: potentially dangerous, that were completely uneasy. Yes they have one 207 00:10:54,880 --> 00:10:58,520 Speaker 2: dangerous yes, yeah and so, And I love that that 208 00:10:58,520 --> 00:11:03,760 Speaker 2: that's saving of thirty thousand dollars. That aren't argued that, hey, 209 00:11:03,840 --> 00:11:07,480 Speaker 2: we saved more than we spent in the twenty thousand dollars, 210 00:11:08,200 --> 00:11:11,600 Speaker 2: But that is a saving compared to no room rate 211 00:11:11,720 --> 00:11:15,319 Speaker 2: negotiation at all, right, and that negotiation could have taken 212 00:11:15,360 --> 00:11:16,760 Speaker 2: place over the phone. 213 00:11:16,840 --> 00:11:18,600 Speaker 1: It doesn't need to be face to face. 214 00:11:19,040 --> 00:11:22,000 Speaker 2: This, Can I point something out? Thirty thousand dollars saving, 215 00:11:22,080 --> 00:11:23,800 Speaker 2: Let's say they've got ten percent off. Does that mean 216 00:11:23,800 --> 00:11:25,319 Speaker 2: we spent three hundred thousand. 217 00:11:26,280 --> 00:11:29,360 Speaker 1: That's a very going over. That is a very good 218 00:11:29,360 --> 00:11:32,280 Speaker 1: point this. I think we can all agree this does 219 00:11:32,320 --> 00:11:35,520 Speaker 1: not pass the pub test, right, and I know that 220 00:11:35,559 --> 00:11:37,360 Speaker 1: Sean's going to have one that may not pass the 221 00:11:37,400 --> 00:11:39,600 Speaker 1: pub test as well. Together, you know what we should 222 00:11:39,600 --> 00:11:42,000 Speaker 1: have just called this category doesn't pass the pub test. 223 00:11:42,360 --> 00:11:48,760 Speaker 1: Rights also questionable on the pub testiness is Aunt's confession 224 00:11:49,320 --> 00:11:51,600 Speaker 1: confirmation rather not so much a confession. 225 00:11:51,640 --> 00:11:54,360 Speaker 2: But you know what, maybe it was definitely not a 226 00:11:54,400 --> 00:11:55,559 Speaker 2: confession that he. 227 00:11:55,600 --> 00:12:00,680 Speaker 1: Dined at Disney's invitation only Club thirty three. The membership 228 00:12:00,679 --> 00:12:03,400 Speaker 1: costs tens of thousands of dollars. This is no normal club, 229 00:12:03,880 --> 00:12:07,800 Speaker 1: no kind of knowledge of whether taxpayers paid for it, 230 00:12:07,880 --> 00:12:10,079 Speaker 1: or whether Disney paid for it, or who paid for it. 231 00:12:10,520 --> 00:12:12,960 Speaker 1: But why was he there? He was there to study 232 00:12:12,960 --> 00:12:17,760 Speaker 1: Disney's cultural induction program because the Future Fund is building 233 00:12:17,760 --> 00:12:20,200 Speaker 1: its own leadership academy. And again, this is something that 234 00:12:20,240 --> 00:12:22,840 Speaker 1: could not have been done remotely. You've got to be 235 00:12:23,000 --> 00:12:27,240 Speaker 1: there to absorb the culture of Disney and really feel 236 00:12:27,240 --> 00:12:29,600 Speaker 1: that Club thirty three. 237 00:12:28,840 --> 00:12:34,800 Speaker 2: Is Mickey mouse is. They actually need to be seen 238 00:12:34,880 --> 00:12:35,400 Speaker 2: and felt. 239 00:12:36,320 --> 00:12:38,760 Speaker 1: You need to put them on your head this one. Yeah, 240 00:12:38,800 --> 00:12:40,880 Speaker 1: you cannot put the money ahead remotely. That's a really 241 00:12:40,920 --> 00:12:43,920 Speaker 1: good point, Sean, I'm being unfair and I'm being too cynical. 242 00:12:44,160 --> 00:12:47,160 Speaker 1: What did you like? What was your most remarkable? Doesn't 243 00:12:47,200 --> 00:12:48,560 Speaker 1: pass the pub test story? 244 00:12:49,840 --> 00:12:53,520 Speaker 2: Well, it was the fact that Communications Minister Anika Wells 245 00:12:53,559 --> 00:12:57,160 Speaker 2: spent one hundred thousand dollars on three fights to attend 246 00:12:57,200 --> 00:13:00,920 Speaker 2: the United Nations General Assembly. I don't mind her again. 247 00:13:00,920 --> 00:13:03,000 Speaker 2: At the United Nations General Assembly, she said it was 248 00:13:03,080 --> 00:13:05,920 Speaker 2: important meetings that she was attending, and I kind of 249 00:13:05,920 --> 00:13:10,280 Speaker 2: have to buy that. Albanizi was over there at the time, 250 00:13:10,360 --> 00:13:12,040 Speaker 2: so maybe he could have gone to some of these meetings. 251 00:13:12,040 --> 00:13:16,120 Speaker 2: But that's okay. What happened. She was delayed because of 252 00:13:16,160 --> 00:13:19,280 Speaker 2: the Optus triple zero outage, so I think it was 253 00:13:19,320 --> 00:13:23,320 Speaker 2: two days, possibly three days later. So she brought a 254 00:13:23,360 --> 00:13:25,839 Speaker 2: flight for thirty four thousand dollars. Her deputy chief of 255 00:13:25,880 --> 00:13:28,320 Speaker 2: staff fought one for thirty eight thousand dollars. Now, the 256 00:13:28,360 --> 00:13:32,360 Speaker 2: Online Safety Assistance secretary who had gone two days earlier 257 00:13:32,400 --> 00:13:36,600 Speaker 2: twenty two thousand dollars, So one hundred thousand dollars for 258 00:13:36,720 --> 00:13:42,920 Speaker 2: three people to fly to the US. Now, my point 259 00:13:42,960 --> 00:13:47,800 Speaker 2: here is that's five times as much as Michael's. Both 260 00:13:47,840 --> 00:13:49,719 Speaker 2: stories are pretty remarkable, right, so I don't really want 261 00:13:49,720 --> 00:13:52,600 Speaker 2: to downplay, but they're most ridiculous that we're spending taxpayer 262 00:13:52,640 --> 00:13:55,439 Speaker 2: money on this. But mine is five times as much. 263 00:13:56,200 --> 00:13:58,760 Speaker 2: Thirty eight thousand dollars for the deputy chief of staff. 264 00:13:58,800 --> 00:14:01,079 Speaker 2: If you look up a busy class ticket to New 265 00:14:01,120 --> 00:14:03,160 Speaker 2: York and you want to go this week. It's costing 266 00:14:03,160 --> 00:14:05,959 Speaker 2: about sixteen or seventeen thousand. How can you pay thirty 267 00:14:06,000 --> 00:14:09,880 Speaker 2: eight thousand dollars? It's and the government would have these 268 00:14:09,960 --> 00:14:13,920 Speaker 2: deals with the airlines as well, presumably with quantus. Is 269 00:14:14,000 --> 00:14:16,320 Speaker 2: quantus ripping off the government? Is that actually what this 270 00:14:16,440 --> 00:14:16,800 Speaker 2: is saying? 271 00:14:16,840 --> 00:14:19,360 Speaker 1: But aren't they compelled to get the best deal of 272 00:14:19,440 --> 00:14:20,000 Speaker 1: a they are? 273 00:14:20,160 --> 00:14:22,680 Speaker 2: Actually you're right, yes, yes, best available deal thirty eight 274 00:14:22,680 --> 00:14:28,160 Speaker 2: thousand dollars. I mean beyond me, beyond me, and I 275 00:14:28,160 --> 00:14:31,280 Speaker 2: mean it doesn't pass the pub tesk. Absolutely outrageous. 276 00:14:31,760 --> 00:14:34,280 Speaker 1: You have to decide which one is more outrageous, Adam, 277 00:14:34,480 --> 00:14:36,200 Speaker 1: But just to me, I think you need to look 278 00:14:36,240 --> 00:14:40,120 Speaker 1: at the justification for the trip. Was it necessary to 279 00:14:40,240 --> 00:14:42,440 Speaker 1: go to this particular destination? 280 00:14:43,320 --> 00:14:45,880 Speaker 2: You decide, Oh, well, I think you should think about 281 00:14:45,840 --> 00:14:52,640 Speaker 2: the quantum. Look Michael's justifications miles at least thousands of minister. 282 00:14:54,720 --> 00:14:58,200 Speaker 3: So oh, Jean, you were talking about the story? Was 283 00:14:58,240 --> 00:14:59,920 Speaker 3: it Disneyland and imagining? 284 00:15:00,160 --> 00:15:02,120 Speaker 2: Is is that what imagine it is? 285 00:15:02,480 --> 00:15:02,520 Speaker 1: So? 286 00:15:02,560 --> 00:15:04,560 Speaker 3: I wonder if that was the induction program that he 287 00:15:04,600 --> 00:15:07,280 Speaker 3: had to go and find out how to be an imagination? 288 00:15:07,680 --> 00:15:10,160 Speaker 2: Maybe, but just the stories? 289 00:15:10,400 --> 00:15:18,680 Speaker 3: What a crock for the unbelievable and just the cultural distance. 290 00:15:18,880 --> 00:15:21,800 Speaker 3: Like to answer a question in that basis on behalf 291 00:15:21,800 --> 00:15:23,760 Speaker 3: of public money, I think is offensive. 292 00:15:23,920 --> 00:15:25,520 Speaker 2: Adam Lang lashes out. 293 00:15:29,040 --> 00:15:31,520 Speaker 3: So, yeah, Michael, you win on this one. I think 294 00:15:31,600 --> 00:15:36,240 Speaker 3: the story is just so fascical that you have to win. 295 00:15:36,400 --> 00:15:39,200 Speaker 1: Yeah, thank you, thank you. I don't think anyone's going 296 00:15:39,240 --> 00:15:40,320 Speaker 1: to be both of them. 297 00:15:40,400 --> 00:15:41,840 Speaker 2: Actually I can't even know. I can't. 298 00:15:42,320 --> 00:15:44,400 Speaker 1: That was just a rip up. Okay, good category. That 299 00:15:44,480 --> 00:15:46,640 Speaker 1: was fun. We've got some more fun. We've got a 300 00:15:46,680 --> 00:15:49,440 Speaker 1: great mystery category coming up after the break. It is 301 00:15:49,480 --> 00:15:59,240 Speaker 1: one all quick break back in a moment, Sean, it 302 00:15:59,320 --> 00:16:02,040 Speaker 1: is one all. We are now looking for our mystery category. 303 00:16:02,080 --> 00:16:05,960 Speaker 1: We change this one every week. So this one, look, 304 00:16:06,000 --> 00:16:10,640 Speaker 1: it's it's loosely business news. Ah yeah, I mean well 305 00:16:10,680 --> 00:16:13,720 Speaker 1: Spotify is a big business ish yeah right, Spotify and 306 00:16:13,840 --> 00:16:17,800 Speaker 1: Australian music and podcasts and all of it. It is business. 307 00:16:17,800 --> 00:16:19,040 Speaker 1: So you know what, I take it back. 308 00:16:18,960 --> 00:16:22,720 Speaker 3: A business for the music industry on Spotify. 309 00:16:23,320 --> 00:16:26,160 Speaker 1: Rapped has been released this week. 310 00:16:26,240 --> 00:16:28,640 Speaker 2: Michael, I think we better give Adam some notice here 311 00:16:28,680 --> 00:16:31,520 Speaker 2: because as we're doing it, Adam, you need your phone, 312 00:16:31,760 --> 00:16:33,520 Speaker 2: you need to go to your Spotify app. 313 00:16:33,680 --> 00:16:37,040 Speaker 1: So the broad context to this is the every year 314 00:16:37,080 --> 00:16:39,000 Speaker 1: at this time of year, Spotify and a bunch of 315 00:16:39,000 --> 00:16:41,240 Speaker 1: other companies they do their kind of wraps of the year, 316 00:16:41,320 --> 00:16:43,960 Speaker 1: and because there is now so much data about what 317 00:16:44,080 --> 00:16:46,920 Speaker 1: people are doing online, they're able to get really quite 318 00:16:46,960 --> 00:16:50,360 Speaker 1: customized and personalized in terms of what people are consuming. 319 00:16:50,920 --> 00:16:53,960 Speaker 1: And so what we found out from Spotify is this 320 00:16:54,040 --> 00:16:58,440 Speaker 1: week that the top five music artists streamed by Australians 321 00:16:58,440 --> 00:17:02,680 Speaker 1: were all from Offshore, Taylor Swift, Drake, Morgan Wollan, the 322 00:17:02,680 --> 00:17:08,240 Speaker 1: Weekend Billie Eilish Uh. Top Australian artist was the Wiggles 323 00:17:09,240 --> 00:17:15,480 Speaker 1: Vodka what followed by the kid Leroy and the top 324 00:17:15,480 --> 00:17:18,800 Speaker 1: bossie song Riptide by vance Joy Okay, which is twelve 325 00:17:18,880 --> 00:17:21,640 Speaker 1: years old but it's just it just keeps going now. 326 00:17:21,640 --> 00:17:26,639 Speaker 2: They had that. They had that version this year that 327 00:17:26,800 --> 00:17:29,600 Speaker 2: was based on the rip Tide. Yeah, Michael, you and 328 00:17:29,680 --> 00:17:34,560 Speaker 2: I sat in the studios listening to it continually and 329 00:17:34,640 --> 00:17:37,159 Speaker 2: it was about mental health maybe or something like that. 330 00:17:37,200 --> 00:17:39,280 Speaker 1: Oh no, that was the other one. The you know 331 00:17:39,320 --> 00:17:43,000 Speaker 1: that that as somebody that I used to know song, remember, yeah, 332 00:17:43,040 --> 00:17:45,159 Speaker 1: I got yes, And then they did that. There was 333 00:17:45,240 --> 00:17:48,320 Speaker 1: another version of that this year, which which was so 334 00:17:48,480 --> 00:17:50,879 Speaker 1: hard to listen to. It was like they've rutined a 335 00:17:50,920 --> 00:17:53,160 Speaker 1: really good song. And now I realized, I've just elevated 336 00:17:53,200 --> 00:18:01,000 Speaker 1: myself into your categories of boomers. I'm not a boomer, 337 00:18:01,040 --> 00:18:02,880 Speaker 1: which is why it's so much fun to say it. 338 00:18:04,160 --> 00:18:08,360 Speaker 2: And judging from my Spotify numbers, I am a bit. 339 00:18:08,560 --> 00:18:11,280 Speaker 2: Oh I'm seventy two years old, is what they told me. 340 00:18:12,119 --> 00:18:15,800 Speaker 1: Okay, take us through, Sean, what you found out about 341 00:18:15,920 --> 00:18:17,040 Speaker 1: your Well. 342 00:18:17,040 --> 00:18:19,640 Speaker 2: I found out that I'm seventy two years old. According 343 00:18:19,680 --> 00:18:26,320 Speaker 2: to my listening. I listened more to podcasts and music. Well, 344 00:18:26,320 --> 00:18:28,800 Speaker 2: I thought that, but I got my list one hundred 345 00:18:28,840 --> 00:18:32,119 Speaker 2: and ninety one genres of music. I didn't realize there 346 00:18:32,119 --> 00:18:34,480 Speaker 2: was one hundred and ninety one genres of music that 347 00:18:34,480 --> 00:18:40,680 Speaker 2: about eight thousand minutes over the year. Basically, alternative rock 348 00:18:40,880 --> 00:18:46,280 Speaker 2: was my top category, followed by pop rap, then new wave, 349 00:18:47,000 --> 00:18:49,720 Speaker 2: and then oldies. I'm proud of the fact that oldies 350 00:18:49,720 --> 00:18:53,199 Speaker 2: came in at number four. You know, then I'm my 351 00:18:53,359 --> 00:18:55,440 Speaker 2: sort of it's sort of embarrassing to look at you. 352 00:18:56,080 --> 00:19:01,120 Speaker 2: Drake Nah, nobody to be seen the Weekend, Billie Eilish 353 00:19:01,320 --> 00:19:06,680 Speaker 2: Nor em Ah, Yes, David Bowie certainly radio Head absolutely, 354 00:19:08,600 --> 00:19:10,720 Speaker 2: You two is in there, The Beatles was in there. 355 00:19:11,320 --> 00:19:13,040 Speaker 2: I just I don't know. It didn't make me feel 356 00:19:13,119 --> 00:19:15,480 Speaker 2: very good about myself because I just felt old. 357 00:19:16,040 --> 00:19:21,679 Speaker 1: Well, Sean, I need to confess something. So because my 358 00:19:22,240 --> 00:19:25,880 Speaker 1: Spotify is it's shared with shared with the kids. 359 00:19:26,040 --> 00:19:29,560 Speaker 2: No no, no, no, no, no, no justifications here mine 360 00:19:29,640 --> 00:19:34,200 Speaker 2: is too, yes, but family pack it on spot pack 361 00:19:34,240 --> 00:19:34,800 Speaker 2: on Spotify. 362 00:19:34,840 --> 00:19:37,479 Speaker 1: Okay, so no, mine's not a family packed mine as 363 00:19:37,520 --> 00:19:40,840 Speaker 1: they just literally listen on the account. And so that 364 00:19:40,960 --> 00:19:44,359 Speaker 1: is why my number one most listened to song this 365 00:19:44,560 --> 00:19:49,080 Speaker 1: year was that song Golden from the K pop demon Hunters. 366 00:19:50,480 --> 00:19:52,320 Speaker 1: To be fair, it was like the most one of 367 00:19:52,400 --> 00:19:55,159 Speaker 1: the most listened to songs worldwide because that movie just 368 00:19:55,200 --> 00:19:57,639 Speaker 1: I think in Australia it was the most listened to, 369 00:19:57,800 --> 00:20:00,560 Speaker 1: so pretty extraordinary. It just keeps going. And then you 370 00:20:00,640 --> 00:20:03,600 Speaker 1: were talking about the fact that Ordinary by Alex Warren, 371 00:20:03,600 --> 00:20:06,320 Speaker 1: which was the most listened to song around the world, 372 00:20:07,440 --> 00:20:10,119 Speaker 1: that was my number two. Okay, again because of the kids, 373 00:20:10,359 --> 00:20:11,320 Speaker 1: but and then. 374 00:20:11,320 --> 00:20:12,320 Speaker 2: Always because of the kids. 375 00:20:12,320 --> 00:20:16,240 Speaker 1: The kids, the attitude there are so much atu But 376 00:20:16,280 --> 00:20:20,600 Speaker 1: the thing that gets me right is that even with 377 00:20:20,760 --> 00:20:26,240 Speaker 1: the kids listening, my older tendencies still just managed to 378 00:20:26,240 --> 00:20:28,879 Speaker 1: come through. What was your listening age based on what 379 00:20:29,000 --> 00:20:29,560 Speaker 1: you listened to? 380 00:20:29,600 --> 00:20:30,240 Speaker 2: Seventy two? 381 00:20:32,560 --> 00:20:36,200 Speaker 1: So my listening age, Sean was seventy eight. 382 00:20:41,520 --> 00:20:42,760 Speaker 2: Oh, that's made my day. 383 00:20:43,119 --> 00:20:49,280 Speaker 1: My top genres were soft pop, lullaby, indie rock, oldies, 384 00:20:49,440 --> 00:20:53,000 Speaker 1: and country. That is an eclectic mix, right is that 385 00:20:53,160 --> 00:20:57,199 Speaker 1: is a little bit of everything? Anyway. I just I 386 00:20:57,280 --> 00:21:01,119 Speaker 1: really enjoy this for what it tells you about the year. 387 00:21:01,160 --> 00:21:02,600 Speaker 1: And you're like, I didn't listen to that much, and 388 00:21:02,600 --> 00:21:04,600 Speaker 1: then you suddenly look back and go, actually I did. 389 00:21:04,760 --> 00:21:07,920 Speaker 1: And it's nice to see the podcast numbers in there 390 00:21:07,960 --> 00:21:09,960 Speaker 1: as well, and it's very reassuring to see that Fear 391 00:21:10,000 --> 00:21:12,439 Speaker 1: and Greed was, in fact my most listened to, my 392 00:21:12,520 --> 00:21:16,000 Speaker 1: most listened to podcasts. And how good has it been 393 00:21:16,320 --> 00:21:20,080 Speaker 1: this week seeing some of the listener posts online as 394 00:21:20,119 --> 00:21:22,680 Speaker 1: well about people saying that they have had Fear and 395 00:21:22,720 --> 00:21:24,880 Speaker 1: Greed at the top of their Spotify wrapped, which is 396 00:21:24,960 --> 00:21:30,960 Speaker 1: actually really very very nice. Adam, Yes, what was yours judging? No? 397 00:21:31,520 --> 00:21:33,359 Speaker 2: Oh no, no, no, you're just telling us we're going 398 00:21:33,400 --> 00:21:35,080 Speaker 2: to judge. We're going to see who wins out of this. 399 00:21:35,480 --> 00:21:36,760 Speaker 1: We're judging you, all. 400 00:21:36,760 --> 00:21:41,280 Speaker 3: Right, Okay, So I've opened up my Spotify Listening Club 401 00:21:41,520 --> 00:21:44,240 Speaker 3: minutes listened, Top genres, Top genres. 402 00:21:44,480 --> 00:21:47,440 Speaker 1: Was it's gonna be something really kind of unexpect. 403 00:21:47,040 --> 00:21:49,080 Speaker 3: One hundred and fifty nine genres? 404 00:21:49,320 --> 00:21:51,880 Speaker 1: Oh, it's quite limited range. 405 00:21:51,840 --> 00:21:57,320 Speaker 3: Do you know? Okay? New wave rock rock, Yeah, like 406 00:21:57,359 --> 00:22:02,400 Speaker 3: the Doobie Brothers, my cad Yes go on, pop, rap, 407 00:22:02,480 --> 00:22:05,840 Speaker 3: pop and rock. Jesus quite a narrow band there, really, 408 00:22:05,880 --> 00:22:09,679 Speaker 3: isn't it. Top songs, Well, God, should. 409 00:22:09,400 --> 00:22:11,959 Speaker 1: I do this on? Just give us the top three? One? 410 00:22:12,280 --> 00:22:17,360 Speaker 3: Okay, It's My Life by Talk Talk, border Line by Madonna, 411 00:22:17,760 --> 00:22:20,000 Speaker 3: and Something About You by Level forty two. 412 00:22:20,240 --> 00:22:24,840 Speaker 2: Oh my god, I'm not sure where to go. 413 00:22:24,880 --> 00:22:26,120 Speaker 1: I don't even know what to say. 414 00:22:26,600 --> 00:22:28,280 Speaker 2: What's your listening age? 415 00:22:28,600 --> 00:22:30,840 Speaker 3: Year fifty nine, so a bit older than me. 416 00:22:32,480 --> 00:22:34,200 Speaker 2: That's it's pretty good. 417 00:22:34,640 --> 00:22:39,520 Speaker 3: Top Artist Tears for Fears, then Fleetwood, Mac, David Bowie, Elton, John, 418 00:22:39,560 --> 00:22:40,280 Speaker 3: Michael Jackson. 419 00:22:41,080 --> 00:22:41,680 Speaker 1: Oh that's a good. 420 00:22:41,760 --> 00:22:47,679 Speaker 2: Okay, I'm judging, I'm judging you right. That is pathetic, Adam, pathetic. 421 00:22:48,160 --> 00:22:51,680 Speaker 2: Tears for Fears come on, great bend. Half a point 422 00:22:51,680 --> 00:22:54,639 Speaker 2: to Michael, half a point to me, agreed, one and 423 00:22:54,640 --> 00:22:56,480 Speaker 2: a half, one and a half zero. 424 00:22:57,400 --> 00:22:59,600 Speaker 1: It was. It was a fun exercise. Nothing to do 425 00:22:59,640 --> 00:23:03,080 Speaker 1: with bus. So let's bring it back onto business for 426 00:23:03,160 --> 00:23:08,320 Speaker 1: a big finale. Sean take a favorite story. 427 00:23:08,880 --> 00:23:14,520 Speaker 2: The illegal tobacco story, mostly because it shows economics in action, 428 00:23:15,200 --> 00:23:17,439 Speaker 2: especially the law of diminishing returns. The federal government has 429 00:23:17,520 --> 00:23:22,000 Speaker 2: taxed cigarettes and vapes so much that revenue started falling. 430 00:23:22,040 --> 00:23:24,399 Speaker 2: We're getting diminishing returns. Now that you would think that 431 00:23:24,400 --> 00:23:26,320 Speaker 2: would be a good thing that revenue was falling. You 432 00:23:26,400 --> 00:23:29,200 Speaker 2: would think because people are buying less of the product. 433 00:23:29,600 --> 00:23:32,560 Speaker 2: That's not the case. Illegal sales have swords, so basically 434 00:23:32,880 --> 00:23:38,240 Speaker 2: a supply side policy has led to a drop in demand, 435 00:23:39,880 --> 00:23:46,840 Speaker 2: but rather than reducing usage, the substitution effect, another great 436 00:23:46,880 --> 00:23:51,520 Speaker 2: economic concept, has kicked in. So legal cigarette and tobacco 437 00:23:51,560 --> 00:23:54,680 Speaker 2: sales down about thirty percent according to the ABS, Illegal 438 00:23:54,680 --> 00:23:57,280 Speaker 2: tobacco sales surging now. According to the FINN, you can 439 00:23:57,280 --> 00:24:00,560 Speaker 2: get a twenty five cigarette pack for six dollars at 440 00:24:00,600 --> 00:24:04,840 Speaker 2: a convenience store. If you buy that legally, it's fifty dollars. 441 00:24:05,119 --> 00:24:07,360 Speaker 2: Thirty four dollars of that fifty dollars goes in taxes. 442 00:24:07,920 --> 00:24:10,639 Speaker 2: If people weren't lining up, then you'd sort of figure 443 00:24:10,640 --> 00:24:13,520 Speaker 2: it doesn't matter. But Roy Margan data suggests that eighteen 444 00:24:13,560 --> 00:24:16,359 Speaker 2: to twenty four year olds are smoking and vaping more 445 00:24:16,480 --> 00:24:18,879 Speaker 2: than ever before. There's also the problem of crime that 446 00:24:18,920 --> 00:24:22,920 Speaker 2: comes alongside illegal sales. We have a target of less 447 00:24:22,920 --> 00:24:25,040 Speaker 2: than five percent of the population to be smoking by 448 00:24:25,080 --> 00:24:27,760 Speaker 2: twenty thirty. Its currently sits at eight point five percent, 449 00:24:28,119 --> 00:24:32,320 Speaker 2: responsible for sixty six Australian deaths a day, the leading 450 00:24:32,320 --> 00:24:35,119 Speaker 2: cause of preventable death in Australia. And the economics are 451 00:24:35,119 --> 00:24:39,199 Speaker 2: showing that the government policy doesn't work. So it's a 452 00:24:39,240 --> 00:24:41,640 Speaker 2: really important story because we need to hear about them. 453 00:24:41,760 --> 00:24:45,840 Speaker 2: But it just demonstrates how economics can tell you a story. 454 00:24:46,480 --> 00:24:48,560 Speaker 2: And I mean the government has to change its policy 455 00:24:48,560 --> 00:24:50,959 Speaker 2: on this. There's no way you can keep taxing this 456 00:24:51,440 --> 00:24:56,639 Speaker 2: and have such an illegal underground tobacco sales booming and 457 00:24:56,640 --> 00:24:59,480 Speaker 2: people starting to smoke again. Cracking story. 458 00:25:00,359 --> 00:25:07,119 Speaker 1: Yeah, no melodrama though that was where was the sixty Michael? 459 00:25:07,240 --> 00:25:10,040 Speaker 1: No that I mean? And it is a very serious, serious, 460 00:25:10,920 --> 00:25:13,920 Speaker 1: a very serious day. Yeah it is. It is extraordinary 461 00:25:14,640 --> 00:25:19,480 Speaker 1: bringing a Michael bringing home. Okay, I was a little 462 00:25:19,480 --> 00:25:20,480 Speaker 1: bit torn this week. 463 00:25:21,440 --> 00:25:23,000 Speaker 2: Here we go, it's going to be an omnibus. 464 00:25:23,040 --> 00:25:27,120 Speaker 1: Now it's not an omnibus. I genuinely couldn't decide this 465 00:25:27,200 --> 00:25:31,160 Speaker 1: week between Samsung's new trifold phone, which I know got 466 00:25:31,200 --> 00:25:33,119 Speaker 1: you very excited this week, sure, and the idea that 467 00:25:33,160 --> 00:25:35,400 Speaker 1: you can actually have this phone that folds into three 468 00:25:35,480 --> 00:25:39,359 Speaker 1: different parts run once. Yeah, three phones once, ridiculous. The 469 00:25:39,400 --> 00:25:42,040 Speaker 1: price of copper hitting a record high. 470 00:25:42,160 --> 00:25:46,000 Speaker 2: You were excited about that. I remember that HP ten 471 00:25:46,040 --> 00:25:46,760 Speaker 2: percent in the week. 472 00:25:47,320 --> 00:25:49,919 Speaker 1: Yeah, and Rio tinto to a new record like that? 473 00:25:50,000 --> 00:25:54,159 Speaker 1: What what the heck? Huh wow? Copper go nuts? Then 474 00:25:54,880 --> 00:26:02,000 Speaker 1: extensions staff now being called reinventors. What on earth is 475 00:26:02,080 --> 00:26:06,239 Speaker 1: that could not split them? So I went in a 476 00:26:06,320 --> 00:26:08,120 Speaker 1: different direction all together. 477 00:26:08,680 --> 00:26:09,800 Speaker 3: You chose none of them. 478 00:26:09,800 --> 00:26:13,560 Speaker 1: Chose none of them, and instead have chosen the rise 479 00:26:13,720 --> 00:26:17,320 Speaker 1: of Giving Tuesday, right, which. 480 00:26:17,080 --> 00:26:18,520 Speaker 2: Is the suck up to Adam? 481 00:26:18,600 --> 00:26:19,080 Speaker 3: Like this. 482 00:26:21,800 --> 00:26:22,280 Speaker 2: Watch me? 483 00:26:23,480 --> 00:26:26,800 Speaker 1: Which is the follow on now from Black Friday and 484 00:26:26,920 --> 00:26:30,280 Speaker 1: Cyber Monday. And in the US, just as Black Friday 485 00:26:30,320 --> 00:26:33,200 Speaker 1: and Cyber Monday started in the US, Giving Tuesday has 486 00:26:33,200 --> 00:26:35,520 Speaker 1: now started in the US, and I'm sure it will 487 00:26:35,520 --> 00:26:37,480 Speaker 1: actually spread to here. And it is kind of like 488 00:26:37,520 --> 00:26:41,399 Speaker 1: they is, this is a global story, Shawn, because what 489 00:26:41,440 --> 00:26:43,520 Speaker 1: happens in the US affects the rest of the world 490 00:26:43,560 --> 00:26:48,919 Speaker 1: flow on effects. It is just simple, simple melodrama. This week, 491 00:26:49,880 --> 00:26:53,959 Speaker 1: this was highlighted Giving Tuesday, and it's like it is 492 00:26:54,000 --> 00:26:57,680 Speaker 1: almost like the antidote to the to the rampant consumerism 493 00:26:57,840 --> 00:27:02,240 Speaker 1: right of Black Friday and Cyber Monday. Right philanthropy happening 494 00:27:02,280 --> 00:27:05,520 Speaker 1: on the Tuesday this week, Michael and Susan Dell, who 495 00:27:05,520 --> 00:27:09,480 Speaker 1: are the founders of Dell Technologies, pledging six point two 496 00:27:09,680 --> 00:27:13,920 Speaker 1: five billion US dollars to go to kids in the US, 497 00:27:14,040 --> 00:27:17,679 Speaker 1: particularly in lower income areas. It is believed to be 498 00:27:17,680 --> 00:27:23,680 Speaker 1: among the largest ever cash donations ever ever to charity. 499 00:27:25,000 --> 00:27:27,080 Speaker 1: There's a little bit more to this from next year, 500 00:27:27,320 --> 00:27:30,840 Speaker 1: the US Treasury is going to put one thousand dollars 501 00:27:30,880 --> 00:27:34,560 Speaker 1: in an investments account for every kid born in twenty 502 00:27:34,600 --> 00:27:37,680 Speaker 1: twenty five or later. It's basically during the president's term. 503 00:27:38,080 --> 00:27:40,840 Speaker 1: They're being kind of called Trump accounts. The Dell donation, 504 00:27:40,880 --> 00:27:42,680 Speaker 1: we'll see an extra two hundred and fifty dollars go 505 00:27:42,840 --> 00:27:46,119 Speaker 1: into twenty five million accounts. And these are kids up 506 00:27:46,160 --> 00:27:48,919 Speaker 1: to the age of ten. I know I'm not going 507 00:27:48,960 --> 00:27:53,119 Speaker 1: to win this category, right because I'm not conceding, but 508 00:27:53,200 --> 00:27:56,120 Speaker 1: I'm just saying I can see Adam's face and I 509 00:27:56,200 --> 00:27:59,200 Speaker 1: know that he's going to love the listing, the economic this. 510 00:27:59,040 --> 00:28:00,680 Speaker 2: Is going on, and you. 511 00:28:00,640 --> 00:28:04,560 Speaker 1: Stopped listening because you don't care, Sean, you don't care 512 00:28:05,000 --> 00:28:10,320 Speaker 1: about the future of children in America. In America, right, 513 00:28:10,880 --> 00:28:12,480 Speaker 1: But I actually think this is really cool. 514 00:28:12,520 --> 00:28:17,240 Speaker 2: He's saying, Kings of America, Kim Wilde, Kim wild thank you. 515 00:28:17,880 --> 00:28:20,119 Speaker 2: I think so, Michael, I'm trying to make some interest 516 00:28:20,160 --> 00:28:20,879 Speaker 2: in this story. Go on. 517 00:28:21,200 --> 00:28:24,520 Speaker 1: I think this for the third time is really really 518 00:28:24,560 --> 00:28:26,919 Speaker 1: cool because it potentially sets these kids up first with 519 00:28:26,960 --> 00:28:29,040 Speaker 1: a nest egg, right, little nest egg that they can 520 00:28:29,080 --> 00:28:32,520 Speaker 1: actually use later on. More importantly, it's a lesson about money. 521 00:28:32,560 --> 00:28:34,600 Speaker 1: It's a lesson about investing. It is a lesson about 522 00:28:34,600 --> 00:28:36,560 Speaker 1: the power of compound interest, and the earlier you learned 523 00:28:36,600 --> 00:28:38,360 Speaker 1: that one, we obviously know that, the better off you're 524 00:28:38,360 --> 00:28:41,280 Speaker 1: going to be long term. Okay, this is this is 525 00:28:41,360 --> 00:28:44,840 Speaker 1: just a fun, exciting story. It's got generosity, it's got philanthropy, 526 00:28:45,000 --> 00:28:47,000 Speaker 1: it's got all of that in there. It's got financial 527 00:28:47,080 --> 00:28:49,680 Speaker 1: education and financial literacy. It's got the potential to help 528 00:28:49,720 --> 00:28:52,680 Speaker 1: people long into the future. It is a great story. 529 00:28:52,760 --> 00:28:53,480 Speaker 1: It didn't get anut. 530 00:28:53,600 --> 00:28:57,720 Speaker 2: Also, it also has a great photo of Michael and 531 00:28:57,760 --> 00:28:58,560 Speaker 2: Susan Dell. 532 00:29:00,440 --> 00:29:02,320 Speaker 3: Just happened to be snapped for the occasion. 533 00:29:02,480 --> 00:29:05,880 Speaker 2: No, they were there announcing it. Of course it was presented. 534 00:29:06,000 --> 00:29:10,080 Speaker 2: It was the photo they sent out and I looked 535 00:29:10,120 --> 00:29:12,240 Speaker 2: at it, were looking like we're sitting there stach And said, 536 00:29:12,240 --> 00:29:16,880 Speaker 2: I look at this phone of Michael and Sis and whoa. 537 00:29:18,160 --> 00:29:24,600 Speaker 1: Google it Adam, Yes, Olivia judgment and just remember the 538 00:29:24,760 --> 00:29:26,320 Speaker 1: coup is brewing. 539 00:29:28,320 --> 00:29:28,800 Speaker 2: Very good. 540 00:29:30,080 --> 00:29:31,840 Speaker 3: So Michael you win. 541 00:29:32,120 --> 00:29:33,520 Speaker 1: Holy cow, what. 542 00:29:37,280 --> 00:29:40,760 Speaker 3: I thought it was kind of odd and I've forgotten 543 00:29:40,760 --> 00:29:43,800 Speaker 3: about it, you know, the Black Friday, Cyber Monday carnival 544 00:29:44,440 --> 00:29:48,000 Speaker 3: and then into giving Tuesday. But it's obviously an incredibly 545 00:29:48,080 --> 00:29:51,840 Speaker 3: generous donation and it is transformational for these people's lives. 546 00:29:52,040 --> 00:29:54,960 Speaker 2: So can I can I just ask which part of 547 00:29:55,000 --> 00:30:02,640 Speaker 2: Michael's story fits your categories? No, I'm not that interesting moving. 548 00:30:03,280 --> 00:30:06,800 Speaker 3: Economic impact of those kids. 549 00:30:05,840 --> 00:30:07,320 Speaker 2: Two and a half to one and a half to zero. 550 00:30:09,520 --> 00:30:11,920 Speaker 1: I love the fact that you have brought Adam into 551 00:30:11,960 --> 00:30:14,680 Speaker 1: the scores here so that you didn't lose, you came 552 00:30:14,760 --> 00:30:15,880 Speaker 1: second someone else. 553 00:30:17,120 --> 00:30:19,200 Speaker 2: Oh I'm trying to word that out. Is that one 554 00:30:19,280 --> 00:30:21,000 Speaker 2: one one and a half one? 555 00:30:21,040 --> 00:30:24,840 Speaker 3: So I gave you yeah half that point? Yeah, So 556 00:30:26,760 --> 00:30:29,680 Speaker 3: I think Sean, your story on the cigarettes and vobes 557 00:30:29,760 --> 00:30:34,720 Speaker 3: is incredible economic story. Chris Richardson from rich Inside. I 558 00:30:34,720 --> 00:30:38,840 Speaker 3: remember when it happened. He called them it was the 559 00:30:39,000 --> 00:30:43,240 Speaker 3: dumbest idea ever, right, and I thought, that is a 560 00:30:43,240 --> 00:30:46,080 Speaker 3: great summary. You're taxing it way too hard and you're 561 00:30:46,080 --> 00:30:48,920 Speaker 3: not fixing the problem. So it is an incredible story. 562 00:30:48,920 --> 00:30:50,760 Speaker 3: But I just have to give this one to Michael. 563 00:30:51,680 --> 00:30:55,720 Speaker 1: Good decision. And you know what, that is a decision 564 00:30:56,400 --> 00:30:59,080 Speaker 1: that is based on self preservation because you heard the 565 00:30:59,320 --> 00:31:03,400 Speaker 1: the rustling of the pitchforks. 566 00:31:03,400 --> 00:31:07,360 Speaker 2: The pitchforks Russell possibly mean leaves that, Russell. 567 00:31:07,440 --> 00:31:09,440 Speaker 1: Yeah, yeah, I mean they're walking through the leaves the people. 568 00:31:09,480 --> 00:31:11,800 Speaker 1: The people are walking through the leaves. No, it's good, 569 00:31:11,840 --> 00:31:14,320 Speaker 1: it's good. You will live to see another week. Adam. 570 00:31:14,360 --> 00:31:16,760 Speaker 1: This is good news. The coup has been. 571 00:31:18,320 --> 00:31:19,440 Speaker 2: Completed, subdued. 572 00:31:19,560 --> 00:31:21,600 Speaker 1: No, no, it hasn't. It's been No. Well, we'll put 573 00:31:21,600 --> 00:31:25,880 Speaker 1: that to bed. We're happy with scores. Oh yeah, I 574 00:31:25,920 --> 00:31:27,440 Speaker 1: was wrapping up. I was done. 575 00:31:27,480 --> 00:31:29,200 Speaker 3: I won ninety four each. 576 00:31:30,080 --> 00:31:35,760 Speaker 2: Oh well, what hasn't that made mine day? 577 00:31:38,840 --> 00:31:39,960 Speaker 1: Why did you have to do that? 578 00:31:40,040 --> 00:31:43,520 Speaker 2: Adam? That is a shallow Michael, a shallow. 579 00:31:45,680 --> 00:31:45,720 Speaker 3: That. 580 00:31:46,480 --> 00:31:48,320 Speaker 1: Look, you know what I speak for the people, and 581 00:31:48,440 --> 00:31:53,120 Speaker 1: I say that sucks, that really sucks. Anyway, I still won. 582 00:31:53,440 --> 00:31:56,760 Speaker 1: Let's not forget that you won. You won ninety four 583 00:31:56,760 --> 00:31:57,280 Speaker 1: points each. 584 00:31:57,400 --> 00:31:58,880 Speaker 2: You want, all right? 585 00:31:59,760 --> 00:32:03,840 Speaker 1: They thank you, Adam, thank you, Michael, thank you, Sean, 586 00:32:04,120 --> 00:32:06,440 Speaker 1: thank you, Adam, thank you Michael. Make sure you're following 587 00:32:06,480 --> 00:32:08,440 Speaker 1: the podcast and head to Fear and Greed dot com 588 00:32:08,440 --> 00:32:10,360 Speaker 1: today you to sign up for our free daily newsletter. 589 00:32:10,360 --> 00:32:12,280 Speaker 1: I'm Michael Thompson. And that was Fear and Greed. Have 590 00:32:12,320 --> 00:32:13,040 Speaker 1: a great weekend.