1 00:00:06,160 --> 00:00:08,680 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,720 --> 00:00:11,160 Speaker 1: business news for people who make their own decisions. I'm 3 00:00:11,160 --> 00:00:12,920 Speaker 1: Michael Thompson and good morning Sean. 4 00:00:12,960 --> 00:00:14,680 Speaker 2: Aylmer, Good morning Michael. 5 00:00:15,120 --> 00:00:18,919 Speaker 1: Now Sean. Our weekend show is vastly different to the 6 00:00:18,920 --> 00:00:20,880 Speaker 1: weekday show. It is about the two of us each 7 00:00:20,920 --> 00:00:23,599 Speaker 1: nominating what we think is the biggest business story of 8 00:00:23,640 --> 00:00:27,400 Speaker 1: the week, the most remarkable business story, a sleeper story, 9 00:00:27,400 --> 00:00:30,120 Speaker 1: one that's not getting the attention that we feel it should, 10 00:00:30,680 --> 00:00:33,400 Speaker 1: and then our favorite business ish story. 11 00:00:33,479 --> 00:00:34,440 Speaker 3: And it is a. 12 00:00:34,640 --> 00:00:37,880 Speaker 1: Fierce, fierce competition. So we are joined every week by 13 00:00:37,920 --> 00:00:41,400 Speaker 1: a judge to pick a winner, and that judge is 14 00:00:41,479 --> 00:00:44,680 Speaker 1: our Fear and Greed colleague Adam Lang Adam, good morning. 15 00:00:44,600 --> 00:00:46,440 Speaker 3: Good morning Michael on Good morning Sean. 16 00:00:47,360 --> 00:00:49,680 Speaker 2: I don't want to turn this into a football show, Michael, 17 00:00:49,880 --> 00:00:53,120 Speaker 2: I really don't. But however Adam has been I mean, 18 00:00:53,120 --> 00:00:56,600 Speaker 2: look what he's wearing this morning. For those who don't know, 19 00:00:57,800 --> 00:01:01,720 Speaker 2: Adam a West Australian. Like to add, he is a 20 00:01:01,800 --> 00:01:06,480 Speaker 2: ferocious Swan supporter. Big day for the Swans today and Adam, 21 00:01:06,600 --> 00:01:09,840 Speaker 2: like topped to in fact, I think that face tattoo 22 00:01:09,840 --> 00:01:10,440 Speaker 2: was a bit much. 23 00:01:12,319 --> 00:01:16,840 Speaker 3: It's just makeup. It'll stay on for a good week, though, comes. 24 00:01:16,560 --> 00:01:19,200 Speaker 2: Off you and you with red hair quite odd. 25 00:01:21,120 --> 00:01:24,039 Speaker 1: So we're gonna have everybody rushing now to social media 26 00:01:24,120 --> 00:01:26,000 Speaker 1: to check this out, and they'll be going to be 27 00:01:26,040 --> 00:01:29,560 Speaker 1: so disappointed that Adam does not have a face tattoo. 28 00:01:29,920 --> 00:01:39,960 Speaker 1: Adam's hair is its regular dark brownferred Kferre itself perfect anyway, 29 00:01:40,000 --> 00:01:43,600 Speaker 1: But you are looking resplendent in your your Swans paraphernalia, 30 00:01:43,680 --> 00:01:44,759 Speaker 1: vintage jersey. 31 00:01:45,000 --> 00:01:46,880 Speaker 3: I don't quite fill it out the way I used to. 32 00:01:48,840 --> 00:01:51,480 Speaker 2: Most of us go the other way. We fill it 33 00:01:51,520 --> 00:01:54,240 Speaker 2: out far better than we used to. Was you, Adam 34 00:01:54,560 --> 00:01:56,480 Speaker 2: quite the opposite? 35 00:01:56,720 --> 00:02:00,120 Speaker 1: Increasingly lean. Look, we best get on in the spirit 36 00:02:00,160 --> 00:02:02,960 Speaker 1: of competition, because Adam, I know that you are very 37 00:02:03,160 --> 00:02:05,360 Speaker 1: excited about today's Grand Final. 38 00:02:05,480 --> 00:02:06,200 Speaker 3: I am. 39 00:02:06,560 --> 00:02:09,080 Speaker 1: Let's treat today as a bit of a grand final. Excellent, 40 00:02:09,120 --> 00:02:11,400 Speaker 1: this is this is big, This is really big, and 41 00:02:11,440 --> 00:02:13,560 Speaker 1: I'm going into this with a heck of a lot 42 00:02:13,639 --> 00:02:16,400 Speaker 1: of oppertuity. I had to pull myself up there, remembering 43 00:02:16,400 --> 00:02:18,399 Speaker 1: that this is a family show and you can't say 44 00:02:18,400 --> 00:02:21,800 Speaker 1: words like hell, which I just did. What are the 45 00:02:21,840 --> 00:02:24,519 Speaker 1: criteria that you are looking for today? 46 00:02:24,800 --> 00:02:25,200 Speaker 3: Okay? 47 00:02:25,440 --> 00:02:27,600 Speaker 4: Yes, and to the point that it's relevant to each 48 00:02:27,639 --> 00:02:33,600 Speaker 4: of you topicality, timeliness, economic impact. Of course, now then 49 00:02:33,680 --> 00:02:36,400 Speaker 4: comes my subjective bias, and we do. 50 00:02:36,440 --> 00:02:38,119 Speaker 3: Like a little bit of melodrama. 51 00:02:39,040 --> 00:02:40,280 Speaker 1: Good good, I've got. 52 00:02:40,200 --> 00:02:41,320 Speaker 2: That good good. 53 00:02:41,480 --> 00:02:44,600 Speaker 1: So it's like cross cross cross tick. Here we go. 54 00:02:45,680 --> 00:02:49,000 Speaker 1: But let's let's jump into the biggest story of the week, 55 00:02:49,200 --> 00:02:49,560 Speaker 1: shall we? 56 00:02:49,600 --> 00:02:53,240 Speaker 2: And yes, Michael, why don't you go first? 57 00:02:55,360 --> 00:02:58,640 Speaker 1: I approached this with a certain degree of trepidation because 58 00:03:00,280 --> 00:03:05,639 Speaker 1: Sean's abdication of all things economy and when he said, 59 00:03:05,639 --> 00:03:07,480 Speaker 1: what was that four weeks ago now that you'll never 60 00:03:07,560 --> 00:03:09,640 Speaker 1: do the economy again this year. 61 00:03:10,400 --> 00:03:12,520 Speaker 3: Yes, I think it was a form of protest to 62 00:03:12,600 --> 00:03:13,320 Speaker 3: the judge. 63 00:03:13,440 --> 00:03:17,560 Speaker 2: However, not just you, Adam, no, Michael as well. 64 00:03:18,760 --> 00:03:21,600 Speaker 1: I was innocent. I did nothing. You were just cranky 65 00:03:21,680 --> 00:03:24,160 Speaker 1: because your economic story lost, and then you said you 66 00:03:24,160 --> 00:03:27,040 Speaker 1: weren't going to do it again anyway, because you're no 67 00:03:27,120 --> 00:03:30,560 Speaker 1: longer doing it. As a result, you had best strap 68 00:03:30,600 --> 00:03:35,600 Speaker 1: yourselves in because the biggest story this week was all 69 00:03:36,120 --> 00:03:42,000 Speaker 1: all economics, and the duty, the heavy, heavy burden of 70 00:03:42,040 --> 00:03:46,840 Speaker 1: winning this category and explaining everything, explaining everything that happened 71 00:03:46,840 --> 00:03:51,640 Speaker 1: in such a turbulent, monumental week for the economy, well, 72 00:03:51,720 --> 00:03:55,400 Speaker 1: light burden falls now to the man of the people. 73 00:03:55,600 --> 00:03:59,880 Speaker 1: Which makes sense really because in a way, in a way, 74 00:04:00,120 --> 00:04:05,040 Speaker 1: the last week the economic news was all about the people. 75 00:04:06,240 --> 00:04:09,000 Speaker 1: It was about the Reserve Bank leaving interest rates on hold, 76 00:04:09,320 --> 00:04:12,840 Speaker 1: and then really the big show on Wednesday, the monthly 77 00:04:12,840 --> 00:04:16,280 Speaker 1: inflation numbers. Now a bit of substance here. I'm not 78 00:04:16,320 --> 00:04:18,760 Speaker 1: just all kind of we have we haven't heard it yet? 79 00:04:18,800 --> 00:04:21,520 Speaker 1: Go on, yes, I'm announcing that. I'm getting to the 80 00:04:21,560 --> 00:04:22,560 Speaker 1: substance it. 81 00:04:23,240 --> 00:04:24,520 Speaker 2: So far, nothing's happened. 82 00:04:26,360 --> 00:04:28,000 Speaker 1: How am I going for the melodrama? Points? 83 00:04:28,000 --> 00:04:31,200 Speaker 4: So far adam, Yeah, pretty high. But at some point 84 00:04:31,279 --> 00:04:32,440 Speaker 4: we need some substance. 85 00:04:33,400 --> 00:04:39,279 Speaker 1: Well, hello, Dolly, here we go, limbering up here the 86 00:04:39,279 --> 00:04:39,960 Speaker 1: Reserve Bank. 87 00:04:40,920 --> 00:04:42,400 Speaker 2: Bring it in, big boy, bring it in. 88 00:04:42,560 --> 00:04:44,760 Speaker 1: It was no surprise. It was no surprise to me. 89 00:04:44,920 --> 00:04:48,119 Speaker 1: It was no surprise to you or to you. That's 90 00:04:48,440 --> 00:04:52,520 Speaker 1: the Reserve Bank left rates on hold. Nobody expected an increase, 91 00:04:52,760 --> 00:04:56,680 Speaker 1: nobody expected a decrease at this meeting. But what was interesting, 92 00:04:56,720 --> 00:04:59,960 Speaker 1: what was particularly interesting was that the Reserve Bank Board 93 00:05:00,080 --> 00:05:03,880 Speaker 1: didn't really discuss hiking rates, not like they did last time. 94 00:05:04,120 --> 00:05:07,480 Speaker 1: It wasn't even really a realistic option that they were considering. 95 00:05:07,520 --> 00:05:10,320 Speaker 1: They didn't really discuss cutting rates either. 96 00:05:10,600 --> 00:05:14,040 Speaker 2: What did they discuss But they didn't discuss lifting, They 97 00:05:14,040 --> 00:05:17,200 Speaker 2: didn't discuss cutting a lot. They discussed the scones were having. 98 00:05:17,960 --> 00:05:21,359 Speaker 1: I expect they was mostly catering. Like I have it 99 00:05:21,400 --> 00:05:23,640 Speaker 1: on good authority that it was the catering that was 100 00:05:23,640 --> 00:05:26,039 Speaker 1: being discussed mostly. It didn't make it into the minutes, 101 00:05:26,160 --> 00:05:27,920 Speaker 1: or it might we'll see in a week and a half. 102 00:05:28,360 --> 00:05:33,479 Speaker 1: But it is more of a neutral position than we 103 00:05:33,520 --> 00:05:36,560 Speaker 1: have seen previously, which is actually neutral, doesn't sound big. 104 00:05:36,680 --> 00:05:40,720 Speaker 1: Neutral is big, right, And of course the big focus, 105 00:05:40,920 --> 00:05:44,719 Speaker 1: the big, big focus for Reserve Bank Governor Michelle Bullerker 106 00:05:44,760 --> 00:05:46,920 Speaker 1: is getting inflation back into the target band of two 107 00:05:46,920 --> 00:05:50,920 Speaker 1: to three percent. And on Wednesday, oh wow, oh, I 108 00:05:51,000 --> 00:05:54,440 Speaker 1: still have not even recovered from this, what a story. 109 00:05:54,800 --> 00:05:59,440 Speaker 1: Monthly CPI numbers showing headline inflation falling sharply to two 110 00:05:59,560 --> 00:06:01,960 Speaker 1: points seven percent, back in the target band. That was 111 00:06:02,000 --> 00:06:04,120 Speaker 1: a big drop, but of course largely due to power 112 00:06:04,200 --> 00:06:07,159 Speaker 1: bill rebates. If you strip away those volatile items, and 113 00:06:07,160 --> 00:06:09,719 Speaker 1: Sean I have been listening to you. We love to 114 00:06:09,800 --> 00:06:13,600 Speaker 1: strip away those volatile items. It's what it's what we 115 00:06:13,640 --> 00:06:19,479 Speaker 1: live for. Really, a good volatile strip really lost my 116 00:06:19,520 --> 00:06:25,359 Speaker 1: train of thought here, too much froth. The thing is, 117 00:06:26,680 --> 00:06:30,680 Speaker 1: if you do that, you will find lurking beneath it, 118 00:06:31,080 --> 00:06:34,520 Speaker 1: You will find the trimmed mean, the underlying inflation number. 119 00:06:34,520 --> 00:06:40,200 Speaker 1: Now this, this is absolutely critical. It is hard to 120 00:06:40,320 --> 00:06:44,320 Speaker 1: describe just how critical it is. But this number was 121 00:06:44,760 --> 00:06:46,920 Speaker 1: I will do so, I will do my very very best. 122 00:06:46,920 --> 00:06:49,719 Speaker 1: It was three point four percent, not in the target band, 123 00:06:50,279 --> 00:06:53,320 Speaker 1: not in that two to three percent target ban, still 124 00:06:53,320 --> 00:06:57,080 Speaker 1: away from it, but it is heading down. It is 125 00:06:57,200 --> 00:07:01,120 Speaker 1: going in the right direction. It is it is moving, 126 00:07:01,839 --> 00:07:05,000 Speaker 1: I would say, with a little bit of momentum in 127 00:07:05,040 --> 00:07:11,400 Speaker 1: that direction. We are we are officially, I don't know 128 00:07:11,440 --> 00:07:13,600 Speaker 1: whether it's official if I'm saying it, but we are 129 00:07:14,360 --> 00:07:18,520 Speaker 1: somewhat officially on the path to interest rate cuts. It 130 00:07:18,600 --> 00:07:20,880 Speaker 1: may be some time away, but at least we are 131 00:07:21,000 --> 00:07:24,680 Speaker 1: now officially or unofficially or semi officially on our way. 132 00:07:24,720 --> 00:07:27,160 Speaker 1: It was Lao Zoo who said that a journey of 133 00:07:27,200 --> 00:07:30,120 Speaker 1: one thousand miles begins with a single step. 134 00:07:30,160 --> 00:07:35,000 Speaker 2: And this week, so well, whoa, whoa Lao Zoo. Yes, yes, 135 00:07:35,200 --> 00:07:39,720 Speaker 2: as in Chinese philosopher Taoism, is this this, dude? 136 00:07:40,280 --> 00:07:40,880 Speaker 1: Yeah? 137 00:07:40,920 --> 00:07:41,400 Speaker 2: Wow? 138 00:07:42,320 --> 00:07:43,600 Speaker 3: Because race stood still? 139 00:07:46,760 --> 00:07:52,600 Speaker 1: This week we took that first step inflation dropping once again, yes, 140 00:07:52,720 --> 00:07:56,480 Speaker 1: once again, admittedly not necessarily a first step, but it 141 00:07:56,560 --> 00:07:58,720 Speaker 1: is a big step. So it's the first big step. 142 00:07:58,920 --> 00:07:59,120 Speaker 3: Right. 143 00:08:00,040 --> 00:08:03,120 Speaker 1: It feels different, you know, I'm gonna say it. It's 144 00:08:03,160 --> 00:08:07,239 Speaker 1: the vibe. It's the vibe of the Reserve Bank, Marbo. 145 00:08:08,120 --> 00:08:10,640 Speaker 1: It really feels like we are on our way. Maybe 146 00:08:10,680 --> 00:08:13,400 Speaker 1: it's headline inflation being back in the target band. That's big, 147 00:08:13,560 --> 00:08:17,120 Speaker 1: that's big. Maybe it's just maybe it's the fact that now, 148 00:08:17,480 --> 00:08:21,600 Speaker 1: for once, for the first time in well what feels 149 00:08:21,640 --> 00:08:25,560 Speaker 1: like a lifetime, the Reserve Bank Board is just sounding 150 00:08:25,600 --> 00:08:29,040 Speaker 1: a little more optimistic, or, if not optimistic, a little more. 151 00:08:28,920 --> 00:08:30,760 Speaker 2: Neutral, a little more nothing. 152 00:08:30,840 --> 00:08:36,960 Speaker 1: This story affects every single person in this country, every business, 153 00:08:37,000 --> 00:08:40,880 Speaker 1: everyone with a loan, everyone, every single person. It is, 154 00:08:40,920 --> 00:08:44,160 Speaker 1: without a doubt, the biggest story of the week. And 155 00:08:44,280 --> 00:08:46,679 Speaker 1: I hope that I have done it justice. 156 00:08:47,640 --> 00:08:51,160 Speaker 4: Ah, dear, take a little sit down, Michael, Yeah, yeah, 157 00:08:51,160 --> 00:08:53,080 Speaker 4: I have at becks and light out. He's out of breath, 158 00:08:53,559 --> 00:08:57,120 Speaker 4: you know, Michael's in trouble when he's quating Chinese philosophers 159 00:08:57,120 --> 00:08:58,840 Speaker 4: from like twenty five hundred years ago. 160 00:09:00,760 --> 00:09:03,600 Speaker 1: The wisdom remains current, Shawn, and it applies to the 161 00:09:03,600 --> 00:09:04,520 Speaker 1: Reserve Bank. 162 00:09:04,520 --> 00:09:07,160 Speaker 2: And you know he's got an economics. When he decided 163 00:09:07,160 --> 00:09:11,040 Speaker 2: that this is the week where the first step towards 164 00:09:11,280 --> 00:09:13,840 Speaker 2: the targe event happened, he's clearly been listening. 165 00:09:13,559 --> 00:09:16,280 Speaker 1: To the first meaningful I said. I said, the first 166 00:09:16,320 --> 00:09:19,800 Speaker 1: meaningful big step, the biggest step. 167 00:09:19,720 --> 00:09:21,200 Speaker 3: On the thousand mile journey. 168 00:09:21,760 --> 00:09:23,760 Speaker 1: Yes, I mean so maybe they took a couple of 169 00:09:23,800 --> 00:09:25,880 Speaker 1: small steps, but you don't really pay attention until a 170 00:09:25,920 --> 00:09:26,400 Speaker 1: bigger one. 171 00:09:26,640 --> 00:09:27,320 Speaker 3: Just warming up. 172 00:09:27,840 --> 00:09:29,760 Speaker 2: Yeah, it's kind of like the second k the third 173 00:09:29,840 --> 00:09:32,160 Speaker 2: kne you run. The first one's always just a warm up. 174 00:09:32,240 --> 00:09:35,000 Speaker 1: Yeah, exactly. So there we go. Bigger story of the week, 175 00:09:35,360 --> 00:09:38,280 Speaker 1: have you started your sean, Well. 176 00:09:38,200 --> 00:09:40,000 Speaker 2: I'm just going to say, is same old, same old. 177 00:09:41,080 --> 00:09:43,400 Speaker 2: The biggest story of the week, something that was different, 178 00:09:43,960 --> 00:09:47,640 Speaker 2: something that actually happened, something that really madded, not something 179 00:09:47,679 --> 00:09:51,640 Speaker 2: we've been talking about for eighteen months. Involves the two 180 00:09:51,760 --> 00:09:58,080 Speaker 2: big supermarket change Coals and Woolies. It absolutely beggars believe 181 00:09:59,120 --> 00:10:02,480 Speaker 2: that they could possibly be guilty of what the Australian 182 00:10:02,480 --> 00:10:07,360 Speaker 2: Competition and Consumer Commission is alleging. So the watchdog claims 183 00:10:07,360 --> 00:10:09,959 Speaker 2: that the supermarkets offered certain products at a regular price 184 00:10:09,960 --> 00:10:12,520 Speaker 2: for at least one hundred and eighty days. They then 185 00:10:12,559 --> 00:10:14,600 Speaker 2: increased the price of the product by at least fifteen 186 00:10:14,600 --> 00:10:17,040 Speaker 2: percent for a relatively short period of time and then 187 00:10:17,120 --> 00:10:20,440 Speaker 2: put it in their prices dropped program. So it's called 188 00:10:20,520 --> 00:10:23,800 Speaker 2: prices dropped at Woollies downdown at coals. In one example 189 00:10:23,840 --> 00:10:26,760 Speaker 2: provided by the Woolies off of the Oreo family pack 190 00:10:26,840 --> 00:10:29,800 Speaker 2: original three seventy grand product for sale for three bucks 191 00:10:29,880 --> 00:10:33,760 Speaker 2: fifty for about two years, almost two years. The price 192 00:10:33,840 --> 00:10:36,719 Speaker 2: was then increased from that three fifty to five dollars 193 00:10:36,720 --> 00:10:40,679 Speaker 2: for three weeks and then was placed in the prices 194 00:10:40,760 --> 00:10:44,319 Speaker 2: dropped promotion with the ticket showing a price's drop price 195 00:10:44,400 --> 00:10:46,960 Speaker 2: of four dollars fifty, so two years at three point fifty, 196 00:10:47,440 --> 00:10:50,040 Speaker 2: three weeks at five dollars and then into prices dropped 197 00:10:50,080 --> 00:10:53,400 Speaker 2: at four dollars fifty. There's a similar example for Coals. 198 00:10:53,440 --> 00:10:56,000 Speaker 2: I'm not picking on Woollies here, the HBC has examples 199 00:10:56,000 --> 00:11:00,000 Speaker 2: for both. These are totally untested allegations. We haven't heard 200 00:11:00,120 --> 00:11:03,800 Speaker 2: from Coals and Woolworths, but clearly the Atbill Cee thinks 201 00:11:03,840 --> 00:11:05,880 Speaker 2: it has a case. Who were their right mind at 202 00:11:05,880 --> 00:11:09,600 Speaker 2: the Big Zuper Markets thinks it's okay to treat customers 203 00:11:09,600 --> 00:11:12,080 Speaker 2: this way, Like is it a marketing person, is it 204 00:11:12,080 --> 00:11:14,080 Speaker 2: the CEO? Is it a price strategist? Is it a 205 00:11:14,080 --> 00:11:18,400 Speaker 2: revenue officer thinks that lying to customers is okay. So 206 00:11:18,520 --> 00:11:21,040 Speaker 2: when I write this in the newsletter this week, when 207 00:11:21,080 --> 00:11:23,840 Speaker 2: I thought about it, I thought, is this worse or 208 00:11:23,880 --> 00:11:26,800 Speaker 2: better than the banks? Now? With the Royal Commission into 209 00:11:26,800 --> 00:11:31,560 Speaker 2: Financial Services, really bad stuff emerged, right, but it was 210 00:11:31,640 --> 00:11:35,000 Speaker 2: never strategic at a strategic decision made by a bank 211 00:11:35,400 --> 00:11:38,800 Speaker 2: to do it. It was just really bad processes. In 212 00:11:38,840 --> 00:11:43,280 Speaker 2: some cases it was actually corrupt people, criminals in organizations. 213 00:11:44,000 --> 00:11:48,120 Speaker 2: It wasn't this big strategic push to rip off customers. 214 00:11:48,760 --> 00:11:52,280 Speaker 2: If what Willies and Coal, well what's being alleged about 215 00:11:52,280 --> 00:11:56,160 Speaker 2: Willis and Coals actually happened. This is like a strategic 216 00:11:56,280 --> 00:12:00,800 Speaker 2: decision to rip off customers. It just it looks more deliberate. 217 00:12:01,720 --> 00:12:05,000 Speaker 2: It's so bad it's actually hard to believe that it 218 00:12:05,040 --> 00:12:07,440 Speaker 2: could be true. Now. Graham Samuel I saw came out 219 00:12:07,520 --> 00:12:10,280 Speaker 2: yesterday Friday, and he used to run the atrible c 220 00:12:10,440 --> 00:12:12,680 Speaker 2: and he said, look, don't get too excited here. It 221 00:12:12,760 --> 00:12:15,520 Speaker 2: might be the suppliers doing it. Maybe the suppliers are 222 00:12:15,640 --> 00:12:19,680 Speaker 2: forcing Woollis and Coals to do it, So maybe there's 223 00:12:19,720 --> 00:12:21,760 Speaker 2: something behind it. That's why I think it's really important 224 00:12:21,760 --> 00:12:26,679 Speaker 2: we hear the supermarket's response. But if the ATRIABLEC allegations 225 00:12:26,760 --> 00:12:32,080 Speaker 2: are proven true, goodbye any positive sentiment to supermarkets for 226 00:12:32,120 --> 00:12:35,640 Speaker 2: the next decade, Goodbye to share price performance less than 227 00:12:35,640 --> 00:12:40,240 Speaker 2: the short term. It's just an incredible story to think 228 00:12:40,240 --> 00:12:44,880 Speaker 2: that this actually could go on. So Adam, what I 229 00:12:44,920 --> 00:12:48,600 Speaker 2: offered to you is a story of substance where something 230 00:12:48,679 --> 00:12:51,640 Speaker 2: happened that no one knew about except for the atrible 231 00:12:51,640 --> 00:12:55,080 Speaker 2: C maybe four months and months and years and years, 232 00:12:55,080 --> 00:12:58,520 Speaker 2: as opposed to something that is just another step, etc. 233 00:12:59,280 --> 00:13:01,720 Speaker 2: But the Will's cold story to me is just it 234 00:13:01,840 --> 00:13:04,840 Speaker 2: has sort of blown me away, somewhat over to you. 235 00:13:06,360 --> 00:13:12,559 Speaker 4: Very good, great battle, two massive stories, Sean wins. 236 00:13:14,720 --> 00:13:23,040 Speaker 5: Now Michael the only Michael on this one. Look, I 237 00:13:23,160 --> 00:13:26,079 Speaker 5: actually thought you over egged it on the melodrama. 238 00:13:26,160 --> 00:13:27,560 Speaker 3: I know that's a bit of a shock. 239 00:13:27,960 --> 00:13:33,000 Speaker 6: No no, so I often give you maximum points because 240 00:13:33,000 --> 00:13:37,360 Speaker 6: it's so brilliant on the melodrama, But on this particular occasion, 241 00:13:37,400 --> 00:13:40,800 Speaker 6: I actually think you went overboard a little. 242 00:13:41,520 --> 00:13:43,960 Speaker 4: So look well done, because you really did try and 243 00:13:44,040 --> 00:13:46,880 Speaker 4: sell it in and it is great news that the 244 00:13:46,880 --> 00:13:49,160 Speaker 4: trend mean measure of inflation has come down from three 245 00:13:49,200 --> 00:13:52,000 Speaker 4: point eight last month to three point four. It's still 246 00:13:52,040 --> 00:13:54,360 Speaker 4: only the monthly reading, not the quarterly reading, and we 247 00:13:54,400 --> 00:13:57,280 Speaker 4: know there's a bigger basket of measures in the quarterly 248 00:13:57,280 --> 00:14:00,319 Speaker 4: reading that will come out at the end of October, 249 00:14:00,480 --> 00:14:03,000 Speaker 4: so I think that's a more substantive measure. But it 250 00:14:03,120 --> 00:14:06,160 Speaker 4: is good news. I think that's right, A very very 251 00:14:06,160 --> 00:14:10,400 Speaker 4: big story. But the Coles and Woolworth one and Sean, 252 00:14:10,800 --> 00:14:13,720 Speaker 4: you didn't do it in kind of flare on melodrama, 253 00:14:13,800 --> 00:14:19,320 Speaker 4: but the seething feelings within it very good, like very 254 00:14:19,480 --> 00:14:21,160 Speaker 4: measured delivery of the story. 255 00:14:21,200 --> 00:14:22,920 Speaker 3: There compliments. 256 00:14:23,400 --> 00:14:26,560 Speaker 4: So yes, you didn't quite lift the melodrama, but you 257 00:14:26,720 --> 00:14:27,480 Speaker 4: really did. 258 00:14:27,320 --> 00:14:29,000 Speaker 2: Give us a great didn't need you with a big 259 00:14:29,120 --> 00:14:31,760 Speaker 2: enough story. Now, can I just suggest, right, if we 260 00:14:31,760 --> 00:14:33,720 Speaker 2: were looking at each other, maybe we should put a 261 00:14:33,720 --> 00:14:36,680 Speaker 2: picture of the three of us on social media. I 262 00:14:36,720 --> 00:14:41,200 Speaker 2: reckon if we were talking about our haircuts and inflation, right, 263 00:14:41,960 --> 00:14:44,400 Speaker 2: I reckon Adam would definitely be the trim to mean, 264 00:14:49,240 --> 00:14:51,720 Speaker 2: I would be the underlying as in not much there, 265 00:14:52,840 --> 00:14:56,920 Speaker 2: and Michael undoubtedly, especially when he takes his ear fans off. 266 00:14:57,280 --> 00:15:01,560 Speaker 2: He's headlined. He is total headline with that buff you're 267 00:15:01,640 --> 00:15:04,080 Speaker 2: the trim domain on the underlying, not much going on. 268 00:15:04,080 --> 00:15:10,800 Speaker 1: They're heading into new territory. I think we've ever tried 269 00:15:10,840 --> 00:15:19,320 Speaker 1: to compare hairstyles to inflation. Well, look, that's a reasonable decision, 270 00:15:19,440 --> 00:15:20,360 Speaker 1: Adam as. 271 00:15:20,880 --> 00:15:21,440 Speaker 2: I don't like that. 272 00:15:21,880 --> 00:15:23,440 Speaker 3: I was hoping for a little protest. 273 00:15:23,920 --> 00:15:28,720 Speaker 1: No, as Confucius said, humility is the solid foundation of 274 00:15:28,760 --> 00:15:33,120 Speaker 1: all virtues, and I'm confident that I have a win 275 00:15:33,200 --> 00:15:35,360 Speaker 1: coming my way. Sean, would you like to go first 276 00:15:35,400 --> 00:15:38,000 Speaker 1: on the most out remarkable story? 277 00:15:38,080 --> 00:15:38,360 Speaker 4: Yes? 278 00:15:38,640 --> 00:15:42,440 Speaker 2: Yes, yes, yes. What's remarkable this week? It's what's going 279 00:15:42,480 --> 00:15:47,040 Speaker 2: on among all the retailers. It is one, one, one, 280 00:15:47,240 --> 00:15:52,960 Speaker 2: singular hell of a story with the number of parts. Firstly, 281 00:15:53,400 --> 00:15:57,160 Speaker 2: online luxury retailer SETI share price jumped almost eighty percent 282 00:15:57,920 --> 00:16:00,480 Speaker 2: after the group's financial accounts to the last financial year 283 00:16:00,640 --> 00:16:03,680 Speaker 2: received ordered to sign off. This is a company you 284 00:16:03,760 --> 00:16:06,320 Speaker 2: ring up. It's a luxury goods company. You order your 285 00:16:06,360 --> 00:16:09,040 Speaker 2: luxury good It doesn't really have a warehouse. It comes 286 00:16:09,080 --> 00:16:12,600 Speaker 2: straight from the manufacturer. Generally, there's been all sorts of 287 00:16:12,680 --> 00:16:15,160 Speaker 2: issues about how duties in that are paid, how revenue 288 00:16:15,200 --> 00:16:18,840 Speaker 2: is recognized anyway, Grant thought and provide an unqualified audit opinion. 289 00:16:19,400 --> 00:16:23,040 Speaker 2: The accounts went through, said I's books look okay. Share 290 00:16:23,080 --> 00:16:27,600 Speaker 2: price up eighty percent in one day. Pretty phenomenal. Then 291 00:16:27,640 --> 00:16:30,560 Speaker 2: we had a story about billionaire Solomon Lu's Premier Investments 292 00:16:30,600 --> 00:16:34,320 Speaker 2: postponing its planned January the merger of Smiggles, the kids 293 00:16:34,360 --> 00:16:37,360 Speaker 2: stationary chain. It wants to do a deal the sell 294 00:16:37,400 --> 00:16:39,760 Speaker 2: It's retail apparel brands to my It wants to focus 295 00:16:39,760 --> 00:16:42,960 Speaker 2: on that. However, it is still pushing ahead with the 296 00:16:43,000 --> 00:16:46,240 Speaker 2: potential spin off of Peter Alexander. So for some reason 297 00:16:46,240 --> 00:16:49,960 Speaker 2: they decided let's hold Smiggle, push ahead with Peter Alexander. 298 00:16:50,160 --> 00:16:53,120 Speaker 2: That some reason is that sales at Smiggles have actually 299 00:16:53,160 --> 00:16:56,120 Speaker 2: the growth rate has declined significantly. That's what that's about. 300 00:16:56,480 --> 00:16:58,800 Speaker 2: Premire says, there's still merit in the potential of the 301 00:16:58,840 --> 00:17:01,840 Speaker 2: merger of Smiggle, certainly Peter Alexander, but it wants to 302 00:17:01,880 --> 00:17:04,600 Speaker 2: look at my thing. Then the most remarkable story of 303 00:17:04,600 --> 00:17:07,840 Speaker 2: the lot. In fact, this one is truly remarkable. The 304 00:17:07,880 --> 00:17:10,840 Speaker 2: others are like fairly remarkable. This one, and we've got 305 00:17:10,880 --> 00:17:13,959 Speaker 2: the Cidney Morning Herald and the Age to thank for 306 00:17:14,040 --> 00:17:19,280 Speaker 2: this story. Mosaic Brands, So Adam you'd be would be 307 00:17:19,280 --> 00:17:22,440 Speaker 2: a Rockman's Man, a Miller's Man, a Riversman, Katie's No 308 00:17:22,560 --> 00:17:25,280 Speaker 2: to B. I'm guessing. 309 00:17:25,359 --> 00:17:29,440 Speaker 4: Note I'm not deep in any one of those in particular. Yeah, 310 00:17:29,600 --> 00:17:31,520 Speaker 4: or Sidney Swan's jerseys at the moment. 311 00:17:31,600 --> 00:17:35,040 Speaker 2: Yes, they don't sell Sydney Swan's jerseys at Rivers I 312 00:17:35,080 --> 00:17:39,760 Speaker 2: find Yeah. Anyway, Mosaic Brands owned those those groups, Miller's, Rockman's, 313 00:17:39,800 --> 00:17:43,560 Speaker 2: Katie's Drivers be only B. They're hoping. They basically didn't 314 00:17:44,560 --> 00:17:47,359 Speaker 2: pride their financial accounts at the end of August, so 315 00:17:47,480 --> 00:17:50,600 Speaker 2: they've been suspended ever since. They're hoping to save our 316 00:17:50,640 --> 00:17:55,840 Speaker 2: financial collapse by asking global suppliers to actually not accept 317 00:17:55,880 --> 00:17:57,760 Speaker 2: the terms that they did to deal with. They want 318 00:17:57,800 --> 00:18:00,239 Speaker 2: to pay them as little as one third of what 319 00:18:00,400 --> 00:18:04,520 Speaker 2: they're owed now. The supplies are from China, India and Bangladesh. 320 00:18:04,560 --> 00:18:08,480 Speaker 2: There are tens of millions of dollars in most cases. 321 00:18:08,520 --> 00:18:12,159 Speaker 2: According to the report, Mosaic Brands has sold the garments 322 00:18:12,200 --> 00:18:16,160 Speaker 2: received from the suppliers, taken the money and then didn't 323 00:18:16,160 --> 00:18:18,879 Speaker 2: pay for them. Mosaic Breads is a big company, about 324 00:18:18,880 --> 00:18:21,680 Speaker 2: four thousand staff, seven hundred stores. It claims on its 325 00:18:21,680 --> 00:18:25,320 Speaker 2: website to be the largest specialty company in the country. 326 00:18:25,440 --> 00:18:26,840 Speaker 2: Not sure if that's right, but it's certainly one of 327 00:18:26,880 --> 00:18:30,280 Speaker 2: the big ones. This is quite incredible. They've actually just 328 00:18:30,760 --> 00:18:33,919 Speaker 2: not paid their supplies and can you imagine some of 329 00:18:33,960 --> 00:18:36,680 Speaker 2: the workers. And I'm not suggesting there's any supply chain 330 00:18:36,680 --> 00:18:39,520 Speaker 2: issues here, but I bet someone working in a Bangladesh 331 00:18:39,640 --> 00:18:43,920 Speaker 2: factory making clothing for Mosaic isn't getting paid a lot 332 00:18:43,960 --> 00:18:48,359 Speaker 2: of money. And in fact, the board of It's a 333 00:18:48,400 --> 00:18:53,320 Speaker 2: peak body in Bangladesh wrote to Mosaic and said, this 334 00:18:53,359 --> 00:18:55,080 Speaker 2: isn't right. You need to pay the factories that are 335 00:18:55,119 --> 00:18:58,760 Speaker 2: producing your products. I just think that's quite an incredible 336 00:18:58,760 --> 00:19:01,000 Speaker 2: story in Mosaic will a lot more about that over 337 00:19:01,000 --> 00:19:02,960 Speaker 2: the next week or two or three. Not sure where 338 00:19:02,960 --> 00:19:06,359 Speaker 2: the motsake will make. It certainly shares the suspended plenty 339 00:19:06,400 --> 00:19:10,880 Speaker 2: of amazingness going on, particularly among the smaller retailers, and 340 00:19:10,920 --> 00:19:15,240 Speaker 2: that's why it's my most remarkable story, Michael. 341 00:19:16,280 --> 00:19:21,280 Speaker 1: Well, certainly was a long story. I want to talk 342 00:19:21,320 --> 00:19:26,359 Speaker 1: about something that is quite remarkable, truly remarkable. You're not 343 00:19:26,400 --> 00:19:29,879 Speaker 1: selling it in very well, and considering this category is 344 00:19:29,920 --> 00:19:32,840 Speaker 1: in fact most remarkable. It seems out of all of 345 00:19:32,880 --> 00:19:35,959 Speaker 1: the categories that I could choose to do this story, 346 00:19:36,040 --> 00:19:38,480 Speaker 1: this seems like the place to do it. I want 347 00:19:38,520 --> 00:19:44,159 Speaker 1: to discuss the outsized impact that China has on Australia, 348 00:19:44,200 --> 00:19:47,320 Speaker 1: has on our economy, on our exports, on our business community. 349 00:19:47,320 --> 00:19:51,199 Speaker 1: Why am I doing this? Now? You ask this week 350 00:19:51,560 --> 00:19:53,720 Speaker 1: that went a bit, Hi, didn't it. I'm very passionate 351 00:19:53,760 --> 00:20:03,400 Speaker 1: about this this week. This week Beijing made moves, significant. 352 00:20:02,720 --> 00:20:06,560 Speaker 2: Moves, nifficant moves. 353 00:20:06,000 --> 00:20:09,600 Speaker 1: To stimulate its economy. Now we are talking spending measures 354 00:20:09,640 --> 00:20:15,840 Speaker 1: to stabilize this struggling property sector and forceful forceful that 355 00:20:15,960 --> 00:20:21,720 Speaker 1: is a quote forceful rape cuts. Now this stimulation, actually, no, 356 00:20:21,800 --> 00:20:26,520 Speaker 1: stimulation sounds very erotic. Stimulus, this stimulus has Who. 357 00:20:26,400 --> 00:20:28,480 Speaker 2: Does it sound? Who does it sound erotic to? 358 00:20:29,200 --> 00:20:31,879 Speaker 1: I suspect most people, most people driving along in their 359 00:20:31,920 --> 00:20:35,320 Speaker 1: cars at the moment going, oh, stimulation, Oh, that's a 360 00:20:35,359 --> 00:20:35,880 Speaker 1: bit erotic. 361 00:20:36,040 --> 00:20:39,360 Speaker 2: So let's let's take let's take a sample size. Adam yes, 362 00:20:39,400 --> 00:20:39,680 Speaker 2: I know. 363 00:20:40,119 --> 00:20:47,280 Speaker 1: No, Sean, no, Michael, yes, Well, the man of the 364 00:20:47,320 --> 00:20:50,000 Speaker 1: people and you two are a pair of kind of 365 00:20:50,119 --> 00:20:51,480 Speaker 1: stick in the MUDs like It's just. 366 00:20:51,400 --> 00:20:53,800 Speaker 2: Like trimmed means and underlyings. 367 00:20:53,480 --> 00:20:57,080 Speaker 1: Yeah, exactly. We go for the headline headline inflation over 368 00:20:57,119 --> 00:21:02,520 Speaker 1: here says that stimulation is erotic. That's not a sentence 369 00:21:02,560 --> 00:21:04,440 Speaker 1: that I thought would ever come out of my mouth, 370 00:21:08,840 --> 00:21:11,479 Speaker 1: and I've got to say I actually regret it. 371 00:21:12,080 --> 00:21:15,600 Speaker 2: Stories. Your stories are much much more fun than mine. 372 00:21:15,680 --> 00:21:18,520 Speaker 2: I mean, I did very good stories, but they're just fun. 373 00:21:18,640 --> 00:21:20,760 Speaker 2: Like I reckon, if I was listening to this show 374 00:21:20,800 --> 00:21:23,360 Speaker 2: on a Saturday morning, I think, right, I get through it. Sewan, 375 00:21:23,440 --> 00:21:27,720 Speaker 2: you know it's relevant worthy. Come on, Michael bringing arms. 376 00:21:28,440 --> 00:21:33,600 Speaker 1: Get to the big feller. This stimulus right, we're moving 377 00:21:33,600 --> 00:21:37,919 Speaker 1: past stimulation. Stimulus has had a remarkably huge impact on 378 00:21:38,000 --> 00:21:39,879 Speaker 1: us here, and so Adam, I really want to just 379 00:21:39,960 --> 00:21:41,600 Speaker 1: kind of point out some of this to you, because 380 00:21:41,640 --> 00:21:44,120 Speaker 1: the price of iron ore jumped, and that in turn 381 00:21:44,200 --> 00:21:47,800 Speaker 1: meant the share prices of our three biggest miners rose twice. 382 00:21:48,080 --> 00:21:50,320 Speaker 1: In fact, there were two kind of separate big movements here, 383 00:21:50,359 --> 00:21:52,560 Speaker 1: once earlier in the week when there was a more 384 00:21:52,640 --> 00:21:55,080 Speaker 1: measured sign from Beijing that they were going to do this, 385 00:21:55,160 --> 00:21:57,240 Speaker 1: and then again later in the week when they went 386 00:21:57,320 --> 00:22:00,760 Speaker 1: all out on kind of hitting China's economic goals. Oil 387 00:22:00,880 --> 00:22:05,320 Speaker 1: prices picked up. The Australian dollar, the all important Australian dollar, 388 00:22:05,840 --> 00:22:10,400 Speaker 1: absolutely critical, hit a record for twenty four and then 389 00:22:10,480 --> 00:22:15,440 Speaker 1: went higher still. It is really quite remarkable, don't you think. 390 00:22:16,600 --> 00:22:19,240 Speaker 1: And it's kind of it's really demonstrated on a week 391 00:22:19,359 --> 00:22:23,880 Speaker 1: like this, just how reliant we are on China as 392 00:22:23,880 --> 00:22:27,639 Speaker 1: an economy, and how a political decision, a political butterfly, 393 00:22:28,080 --> 00:22:32,679 Speaker 1: if you will, flapping its wings in China can cause 394 00:22:32,720 --> 00:22:39,240 Speaker 1: an economic and business typhoon in Australia demonstrated in real 395 00:22:39,359 --> 00:22:43,520 Speaker 1: time this week. And as an interested and engaged observer 396 00:22:43,720 --> 00:22:48,680 Speaker 1: of all of this stuff of markets, of economics, of trade, 397 00:22:48,880 --> 00:22:51,600 Speaker 1: I just had to take a moment of all this stuff, 398 00:22:52,119 --> 00:22:54,399 Speaker 1: of all of this stuff. I had to take a 399 00:22:54,480 --> 00:22:59,639 Speaker 1: moment this week to just sit back and reflect on 400 00:22:59,800 --> 00:23:03,360 Speaker 1: how ow truly remarkable. 401 00:23:04,480 --> 00:23:05,080 Speaker 3: It all is. 402 00:23:06,200 --> 00:23:06,880 Speaker 2: What did they do? 403 00:23:07,680 --> 00:23:09,360 Speaker 1: A's stimulus? 404 00:23:08,880 --> 00:23:09,840 Speaker 2: Ye was. 405 00:23:11,440 --> 00:23:15,399 Speaker 1: Well, forceful rate cuts for one thing, spending measures to stabilize. 406 00:23:15,400 --> 00:23:17,120 Speaker 3: How much was the rate cut Michael? 407 00:23:17,280 --> 00:23:21,000 Speaker 1: It was forceful. Well, it was across a number of 408 00:23:21,040 --> 00:23:23,840 Speaker 1: interest rates. Like if I was to go through you know, what, 409 00:23:24,160 --> 00:23:25,880 Speaker 1: is there anything about this space that. 410 00:23:25,800 --> 00:23:33,760 Speaker 4: Says I'm a details guy, don't go beyond surface deep. 411 00:23:33,920 --> 00:23:36,000 Speaker 1: For God's s I'm sorry I'm sorry if I have 412 00:23:36,080 --> 00:23:40,000 Speaker 1: misled you, but I am here for purely, purely for 413 00:23:40,040 --> 00:23:40,800 Speaker 1: the entertainment. 414 00:23:40,840 --> 00:23:42,560 Speaker 3: Sorry, that did feel a little cruel. 415 00:23:43,160 --> 00:23:47,639 Speaker 1: It feels as though you targeted me. That's fine, it's fine. 416 00:23:47,680 --> 00:23:51,159 Speaker 1: I just feel like I deserve at least one, maybe 417 00:23:51,160 --> 00:23:52,200 Speaker 1: two pity points. 418 00:23:52,240 --> 00:23:52,919 Speaker 2: Please go on. 419 00:23:54,760 --> 00:23:57,880 Speaker 4: So remarkable. I'm going to give this one to Michael. 420 00:23:58,880 --> 00:24:02,879 Speaker 4: I know that's a tough call. Melodrama was very good, 421 00:24:03,960 --> 00:24:09,480 Speaker 4: just short of over egging it for me and surface 422 00:24:09,560 --> 00:24:14,159 Speaker 4: deep on the detail as we found out. But you know, 423 00:24:14,240 --> 00:24:17,840 Speaker 4: the single percent drop of interest rates the support of 424 00:24:17,880 --> 00:24:18,640 Speaker 4: the economy. 425 00:24:19,119 --> 00:24:20,400 Speaker 3: It does matter to us. 426 00:24:20,520 --> 00:24:23,040 Speaker 4: And I think there's a remarkable element is that China's 427 00:24:23,080 --> 00:24:25,320 Speaker 4: taken so long to do this. They could have done 428 00:24:25,359 --> 00:24:27,919 Speaker 4: it six months ago, but that it has actually happened 429 00:24:28,080 --> 00:24:29,760 Speaker 4: to me is remarkable. 430 00:24:29,960 --> 00:24:30,800 Speaker 3: So well done, Michael. 431 00:24:31,040 --> 00:24:33,240 Speaker 2: You know that story could actually be the biggest story, 432 00:24:33,400 --> 00:24:35,840 Speaker 2: the China story, really true. 433 00:24:36,359 --> 00:24:43,280 Speaker 1: Yeah, I was thinking about that. Then then I thought 434 00:24:43,280 --> 00:24:46,000 Speaker 1: there's a real risk that I would need to do 435 00:24:46,040 --> 00:24:47,000 Speaker 1: additional research. 436 00:24:50,080 --> 00:24:51,520 Speaker 3: The people don't want that. 437 00:24:51,520 --> 00:24:54,399 Speaker 1: That's right anyway, All right, one, all we are, we 438 00:24:54,480 --> 00:24:56,760 Speaker 1: are even. Let's take a quick break and come back 439 00:24:56,760 --> 00:24:57,600 Speaker 1: with the sleeper story. 440 00:24:57,600 --> 00:24:58,000 Speaker 3: Of the week. 441 00:25:04,560 --> 00:25:07,080 Speaker 1: All right, Sean, we are looking for a sleeper story 442 00:25:07,119 --> 00:25:07,480 Speaker 1: of the week. 443 00:25:07,520 --> 00:25:07,639 Speaker 2: Now. 444 00:25:07,720 --> 00:25:11,200 Speaker 1: Sleeper story is, as it always is, a sorry that's 445 00:25:11,359 --> 00:25:13,399 Speaker 1: perhaps flying under the radar a little bit not getting 446 00:25:13,400 --> 00:25:15,680 Speaker 1: the attention that it deserves, or is going to become 447 00:25:15,720 --> 00:25:17,840 Speaker 1: a bigger story further down the track, in which case 448 00:25:17,880 --> 00:25:24,000 Speaker 1: the fuse was lit for that story this week. Shall 449 00:25:24,040 --> 00:25:25,040 Speaker 1: I go first on this one? 450 00:25:25,640 --> 00:25:27,080 Speaker 2: Yeah, you go first. 451 00:25:27,480 --> 00:25:30,199 Speaker 1: I want to talk to you once again about the 452 00:25:30,240 --> 00:25:35,639 Speaker 1: Reserve Bank for my sleeper story, not just about forget 453 00:25:35,800 --> 00:25:38,159 Speaker 1: forget everything that I talked about so far, Okay, I 454 00:25:38,200 --> 00:25:40,879 Speaker 1: want to talk to you about the Reserve Bank, thanks Sean. 455 00:25:41,160 --> 00:25:43,720 Speaker 1: I want to talk about the Reserve Bank, about Australia's 456 00:25:43,760 --> 00:25:48,000 Speaker 1: financial stability and about the threat of AI. Right now. 457 00:25:48,000 --> 00:25:50,639 Speaker 1: This is a sleeper story because in a week where 458 00:25:50,680 --> 00:25:54,800 Speaker 1: all eyes were on the Reserve Bank Board meeting and 459 00:25:54,840 --> 00:25:58,400 Speaker 1: then on that inflation data which has still got me excited, 460 00:25:59,080 --> 00:26:03,160 Speaker 1: nobody was really paying attention to the Reserve banks Financial 461 00:26:03,240 --> 00:26:08,040 Speaker 1: Stability report, but I was. I was paying attention. And 462 00:26:08,160 --> 00:26:11,359 Speaker 1: thank goodness for me, because I'm using. 463 00:26:17,600 --> 00:26:20,680 Speaker 4: I think that Michael's internal voice just came out there. 464 00:26:21,480 --> 00:26:22,320 Speaker 3: Goodness for me. 465 00:26:23,280 --> 00:26:27,240 Speaker 1: I am going to use this platform, this podcast. It's 466 00:26:27,280 --> 00:26:30,399 Speaker 1: not a microphone, it is a megaphone to draw some 467 00:26:30,480 --> 00:26:33,960 Speaker 1: attention to the risk that AI poses to Australia's economy. 468 00:26:34,400 --> 00:26:40,199 Speaker 1: Nobody is talking about this, everybody, Adam is never a 469 00:26:40,200 --> 00:26:42,760 Speaker 1: good sign when the judge starts laughing at the sad 470 00:26:43,480 --> 00:26:45,840 Speaker 1: and that wasn't funny, that was me setting the scene. 471 00:26:45,920 --> 00:26:49,160 Speaker 2: Can you remain professional tochnologies. 472 00:26:48,320 --> 00:26:52,560 Speaker 1: So you are supposed to be impartial? Everybody, I's talking 473 00:26:52,560 --> 00:26:55,880 Speaker 1: about this part right of the airish everyone here. Everyone 474 00:26:55,960 --> 00:26:59,520 Speaker 1: is too worried about autonomous robots and your vacuum cleaner 475 00:26:59,560 --> 00:27:04,879 Speaker 1: suddenly trying to kill you. No looking into the Reserve 476 00:27:04,920 --> 00:27:08,199 Speaker 1: Bank's crystal ball. The big issue ahead of us is 477 00:27:08,240 --> 00:27:11,800 Speaker 1: the digital economy, including AI, which has of course led 478 00:27:11,840 --> 00:27:15,960 Speaker 1: to greater speed leading to greater efficiency, which all sounds 479 00:27:15,960 --> 00:27:24,960 Speaker 1: good right, wrong, because it comes with more risk, significantly 480 00:27:25,040 --> 00:27:27,080 Speaker 1: more risk if something goes wrong. There is a lot 481 00:27:27,080 --> 00:27:33,159 Speaker 1: more interconnectedness, the complexity of it all. Lattice is almost 482 00:27:33,240 --> 00:27:39,320 Speaker 1: impossible for me to quantify the complexity. But but what 483 00:27:39,359 --> 00:27:41,879 Speaker 1: the Reserve Bank has done this week, and by extension, 484 00:27:41,920 --> 00:27:45,520 Speaker 1: what I have done as well, is cleverly identify that 485 00:27:45,640 --> 00:27:49,840 Speaker 1: the digital economy is actually one of the top three 486 00:27:50,080 --> 00:27:55,399 Speaker 1: threats and that includes AI to Australia's financial stability. So 487 00:27:55,560 --> 00:28:01,280 Speaker 1: this sleeper story has the potential for catastrophic consequences if 488 00:28:01,280 --> 00:28:05,959 Speaker 1: steps are not taken now to address it. Consider yourselves warned. 489 00:28:06,040 --> 00:28:08,879 Speaker 1: And if this story was a little bit long, allow 490 00:28:08,960 --> 00:28:13,160 Speaker 1: me to summarize in four words, killer vacuums, financial collapse. 491 00:28:15,280 --> 00:28:19,000 Speaker 1: Okay done, Sean. 492 00:28:19,520 --> 00:28:24,720 Speaker 2: Yeah, my sleep of story of the week Adam negative gearing. 493 00:28:26,200 --> 00:28:29,800 Speaker 2: That's it of one, haven't I one? 494 00:28:30,200 --> 00:28:30,400 Speaker 3: Oh? 495 00:28:30,480 --> 00:28:32,360 Speaker 1: That is that is compelling. 496 00:28:33,480 --> 00:28:35,760 Speaker 2: For Adam. It is now, this is the story that 497 00:28:35,840 --> 00:28:38,160 Speaker 2: won't go to sleep. It's back again. It begain with 498 00:28:38,320 --> 00:28:41,720 Speaker 2: nine media newspapers this week reported that Treasury has been 499 00:28:41,760 --> 00:28:44,600 Speaker 2: asked to do some modeling around negative gearing and house ownership. 500 00:28:45,480 --> 00:28:50,160 Speaker 2: The stories didn't actually say who asked for the information. Now, Michael, 501 00:28:50,360 --> 00:28:51,960 Speaker 2: you know what negative gearing. It would have to help 502 00:28:51,960 --> 00:28:54,000 Speaker 2: me out on what negative gearing is as it attains 503 00:28:54,040 --> 00:28:54,400 Speaker 2: to house. 504 00:28:55,640 --> 00:28:58,200 Speaker 1: I will know what negative gearing is, but please do so. 505 00:28:58,320 --> 00:29:01,840 Speaker 2: If you're a property investor, can deduct losses from running 506 00:29:02,320 --> 00:29:05,600 Speaker 2: the rental properties against your income tax and then when 507 00:29:05,640 --> 00:29:08,920 Speaker 2: you sell the property you get relief on capital gains. 508 00:29:08,960 --> 00:29:11,680 Speaker 2: Tax two point three million Australians and an investment home 509 00:29:11,720 --> 00:29:15,720 Speaker 2: worked about forty eight billion dollars in rental deductions. That 510 00:29:15,920 --> 00:29:18,000 Speaker 2: is a lot of people. That is a lot of money. 511 00:29:18,880 --> 00:29:23,440 Speaker 2: Any change to that is absolute political dynamite. When the 512 00:29:23,480 --> 00:29:26,920 Speaker 2: story emerged, everyone jumped in. Peter Dunton opposition later it 513 00:29:27,040 --> 00:29:30,240 Speaker 2: gave what he called an absolute guarantee to not change 514 00:29:30,400 --> 00:29:33,600 Speaker 2: negative gearing, he said doesn't pass the pub test. Then 515 00:29:33,680 --> 00:29:37,640 Speaker 2: Green's Housing spokesperson Max Chandler Matha repeated calls for the 516 00:29:37,680 --> 00:29:40,640 Speaker 2: Labor government to negotiated with his party over negative gearing. 517 00:29:41,000 --> 00:29:43,360 Speaker 2: Now that just up the problem for Labor really because 518 00:29:43,360 --> 00:29:47,160 Speaker 2: the opposition immediately started calling it a Green's policy. The 519 00:29:47,160 --> 00:29:50,840 Speaker 2: Prime Minister then spent three days fighting really hard to 520 00:29:50,960 --> 00:29:54,200 Speaker 2: play it down. But it is there. Missra Albernezi said 521 00:29:54,200 --> 00:29:56,680 Speaker 2: he wasn't sure who had made the request. He has 522 00:29:56,720 --> 00:29:59,280 Speaker 2: no plans to make the change. But then the kind 523 00:29:59,280 --> 00:30:02,080 Speaker 2: of wheez will work. There's no plans to make changes plans. 524 00:30:02,880 --> 00:30:05,080 Speaker 2: As Anlet's pointed out, these are the sources of wheezler 525 00:30:05,080 --> 00:30:08,240 Speaker 2: words that he talked about twelve months ago about the 526 00:30:08,240 --> 00:30:11,040 Speaker 2: Stage three tax cuts. Back then he promised not to 527 00:30:11,160 --> 00:30:13,920 Speaker 2: change the tax cuts, but ultimately that's exactly what the 528 00:30:13,960 --> 00:30:19,360 Speaker 2: government did. This story has the potential to cost the 529 00:30:19,400 --> 00:30:22,840 Speaker 2: government the federal election. Remember the medi scare campaign that 530 00:30:22,880 --> 00:30:28,200 Speaker 2: helps GOLP Morrison win powers. The ramifications of this financially 531 00:30:28,280 --> 00:30:32,200 Speaker 2: and politically are absolutely huge, and it won't go away. 532 00:30:32,200 --> 00:30:35,360 Speaker 2: It's a sleeper story because it wasn't here last week, 533 00:30:35,720 --> 00:30:37,360 Speaker 2: it's here this week. And no matter how much the 534 00:30:37,400 --> 00:30:41,160 Speaker 2: government says we're not going to do it, the opposition, 535 00:30:41,200 --> 00:30:43,840 Speaker 2: the Greens, will keep talking about it. It'll just rumble 536 00:30:44,000 --> 00:30:48,160 Speaker 2: underneath the surface and it could well contribute to the 537 00:30:48,200 --> 00:30:52,800 Speaker 2: result of the next election. Negative gearing Adam, negative gearing 538 00:30:53,720 --> 00:30:55,080 Speaker 2: tax reform. 539 00:30:55,280 --> 00:30:57,800 Speaker 1: Yeah, no, that's a good story that's been around for 540 00:30:57,840 --> 00:30:58,640 Speaker 1: quite some time. 541 00:31:01,160 --> 00:31:06,520 Speaker 4: Sly Okay, Sean, you have to win this one, and 542 00:31:06,560 --> 00:31:09,239 Speaker 4: you know, against those Stage three tax cuts because we 543 00:31:09,360 --> 00:31:11,720 Speaker 4: know what was said and then we know what happened. 544 00:31:12,440 --> 00:31:14,440 Speaker 3: And I think this is, as you pointed out in 545 00:31:14,440 --> 00:31:16,440 Speaker 3: the newsletter this week, this was kite flying. 546 00:31:17,120 --> 00:31:19,640 Speaker 4: But I think there's more to it here and I 547 00:31:19,720 --> 00:31:24,600 Speaker 4: think that there is genuinely a really strong sleeper element 548 00:31:24,640 --> 00:31:25,160 Speaker 4: to this story. 549 00:31:25,200 --> 00:31:26,800 Speaker 3: So well done, Thanks very much. 550 00:31:26,880 --> 00:31:28,800 Speaker 2: Twenty five points to three. 551 00:31:29,800 --> 00:31:33,000 Speaker 1: That was all right, let's bring it home. What's your 552 00:31:33,080 --> 00:31:37,000 Speaker 1: favorite story? Sean gotta be two to one two. 553 00:31:37,800 --> 00:31:41,520 Speaker 2: Look, I am on the spot changing my favorite story 554 00:31:42,320 --> 00:31:48,600 Speaker 2: because I was reading something in nine media this week 555 00:31:48,880 --> 00:31:52,680 Speaker 2: I spent my third son finished year twelve and they 556 00:31:52,720 --> 00:31:56,600 Speaker 2: had four mols and congratulations graduations and all that sort 557 00:31:56,640 --> 00:32:00,000 Speaker 2: of stuff. And one other thing that I noted, particularly 558 00:32:00,080 --> 00:32:07,840 Speaker 2: them more drinks. I had the hairstyles of the young ones. Wow, 559 00:32:08,960 --> 00:32:13,560 Speaker 2: talk about talk about diverse. But then the more I 560 00:32:13,600 --> 00:32:17,440 Speaker 2: thought about it, mullet, the more well it became a 561 00:32:17,480 --> 00:32:18,840 Speaker 2: bit nineties ish. 562 00:32:19,480 --> 00:32:21,160 Speaker 1: Oh, I know where you're going with this. 563 00:32:21,320 --> 00:32:25,520 Speaker 2: It became a bit nineties ish okay, And then I 564 00:32:25,640 --> 00:32:28,400 Speaker 2: was looking. I was reading the Sydney Morning Her website 565 00:32:30,560 --> 00:32:34,360 Speaker 2: and apparently there's a trend to Oasis hairstyles. 566 00:32:34,440 --> 00:32:37,680 Speaker 1: Oh, well played and the Gallighers. 567 00:32:37,920 --> 00:32:40,000 Speaker 2: The Gallighers. So apparently, if you want to show your 568 00:32:40,040 --> 00:32:44,160 Speaker 2: allegiance to Oasis, who were yeah, and now Oasis of 569 00:32:44,200 --> 00:32:47,280 Speaker 2: course touring next year. They've reformed nol than Lamb, assuming 570 00:32:47,280 --> 00:32:49,200 Speaker 2: they don't beat the crap out of each other on 571 00:32:49,280 --> 00:32:53,479 Speaker 2: stage before they get here. I mean, there's guys who 572 00:32:53,560 --> 00:32:56,480 Speaker 2: sold more than seventy five million albums. What's the story 573 00:32:56,560 --> 00:33:00,560 Speaker 2: Morning Glory, who hasn't somehow thought Wonder was one of 574 00:33:00,600 --> 00:33:05,520 Speaker 2: those great angst songs of your life. Remember that they're back, 575 00:33:06,000 --> 00:33:11,600 Speaker 2: and hairdressers are reported to be continually asked, can we 576 00:33:11,640 --> 00:33:13,760 Speaker 2: look like Noel and Liam Gallagher? 577 00:33:14,440 --> 00:33:14,560 Speaker 4: Now? 578 00:33:14,840 --> 00:33:15,120 Speaker 3: Word? 579 00:33:15,920 --> 00:33:19,840 Speaker 2: I really saw this at the graduation at this is 580 00:33:19,840 --> 00:33:22,480 Speaker 2: the Sydney High School. It's not a good look either, 581 00:33:22,520 --> 00:33:25,360 Speaker 2: by the way, if you're not sure what I'm talking about, 582 00:33:26,240 --> 00:33:29,520 Speaker 2: it's basically put as a natural progression from the shag 583 00:33:29,680 --> 00:33:33,000 Speaker 2: and mod hairstyles of the nineteen sixties and seventies. That's 584 00:33:33,040 --> 00:33:38,239 Speaker 2: kind of that that Rod Stewart Jane Fonder look. And 585 00:33:38,280 --> 00:33:44,040 Speaker 2: then the gag the Gallagher is galighera Gallagher Gallagher, isn't it? Brothers? Yeah, 586 00:33:44,080 --> 00:33:46,840 Speaker 2: So it's kind of often resembles a lazily grown out 587 00:33:46,960 --> 00:33:51,640 Speaker 2: beetles mop top that's been attacked with nail scissors, so 588 00:33:51,920 --> 00:33:57,440 Speaker 2: massive hair at the crown, wispy sideburns. It's kind of like, 589 00:33:58,120 --> 00:34:01,040 Speaker 2: was it I think it was Coldplay's Chris So it 590 00:34:01,040 --> 00:34:04,200 Speaker 2: looks like a geography teacher and that's about right. It's 591 00:34:04,200 --> 00:34:05,040 Speaker 2: sort of shaggier. 592 00:34:08,200 --> 00:34:10,320 Speaker 1: And so this is your favorite story of the week. 593 00:34:10,640 --> 00:34:14,760 Speaker 2: Favorite story of the week, Adam, Adam, No, not Adam, Michael. 594 00:34:15,160 --> 00:34:18,480 Speaker 2: The only man who could possibly have any chance, any 595 00:34:18,560 --> 00:34:21,160 Speaker 2: chance of getting an Oasis hairstyle of us through He's 596 00:34:21,239 --> 00:34:25,360 Speaker 2: Michael Well. To be honest, I was actually going to 597 00:34:25,440 --> 00:34:28,640 Speaker 2: talk about the Star and attainment, getting the rest of 598 00:34:28,680 --> 00:34:30,920 Speaker 2: you package and all that, and it's like, oh, I 599 00:34:31,040 --> 00:34:33,480 Speaker 2: mean a good story, Turndred million. And then the Queensland 600 00:34:33,480 --> 00:34:36,000 Speaker 2: government hit him with a sixty million buck tax bill, 601 00:34:36,239 --> 00:34:37,800 Speaker 2: So I mean that's part of my story. 602 00:34:38,280 --> 00:34:40,719 Speaker 1: No, you either do one or the other. You do 603 00:34:40,800 --> 00:34:43,560 Speaker 1: not get to blend those. Do not give him business 604 00:34:43,560 --> 00:34:49,120 Speaker 1: points for the Star reference during his mullet story. All right, 605 00:34:49,520 --> 00:34:51,720 Speaker 1: can I talk about something related to business now? 606 00:34:52,120 --> 00:34:55,040 Speaker 2: If you want, Michael, you should have realized what you 607 00:34:55,160 --> 00:34:59,080 Speaker 2: got to do. Now. I don't believe it. Anybody feels 608 00:34:59,120 --> 00:35:02,680 Speaker 2: the way that I do. Please stop, just let us 609 00:35:02,719 --> 00:35:06,160 Speaker 2: stop you now, go on. 610 00:35:06,320 --> 00:35:09,080 Speaker 1: I've had a serious day so far, Reserve Bank and 611 00:35:09,520 --> 00:35:13,720 Speaker 1: interest rates and inflation and China and financial stability reports 612 00:35:13,760 --> 00:35:18,200 Speaker 1: and all of this kind of thing, and I feel 613 00:35:18,200 --> 00:35:21,040 Speaker 1: we need to discuss something that everyone can connect with, 614 00:35:21,560 --> 00:35:25,239 Speaker 1: because do you know what yogurt is, Adam? Do you 615 00:35:25,280 --> 00:35:27,719 Speaker 1: know what yogat is it's not what you think. 616 00:35:28,520 --> 00:35:30,040 Speaker 3: It is not what you think culture. 617 00:35:30,719 --> 00:35:34,520 Speaker 1: No, well it might be it is, yes, But yogurt, 618 00:35:35,920 --> 00:35:41,640 Speaker 1: yogurt is the people's dairy food. You've got your fancy cheeses, 619 00:35:41,800 --> 00:35:44,080 Speaker 1: your breath and your camembert, and you've got your various 620 00:35:44,200 --> 00:35:48,920 Speaker 1: kurds and your ricotta. That is that's that's upper class dairy. Right, 621 00:35:49,120 --> 00:35:53,360 Speaker 1: that's what I had to call snobdairy. I'm here to 622 00:35:53,440 --> 00:35:59,880 Speaker 1: talk about yogurt the people's dairy because yogurt. Yogurt is 623 00:36:00,680 --> 00:36:04,600 Speaker 1: booming in Australia right now. It is having its moment 624 00:36:04,880 --> 00:36:08,960 Speaker 1: in the sun, which isn't good growth, No, not good 625 00:36:09,040 --> 00:36:11,960 Speaker 1: for yogurt. Is it hopefully not too long. But Australian 626 00:36:12,000 --> 00:36:15,680 Speaker 1: consumers are now spending get this, one point nine to 627 00:36:15,800 --> 00:36:20,719 Speaker 1: two billion dollars a year on yogurt. Biger, which is 628 00:36:20,880 --> 00:36:25,320 Speaker 1: the biggest yogurt producer, owns brands, household names, household names, farmers, Union, 629 00:36:25,600 --> 00:36:30,040 Speaker 1: dairy farmers. They know yogurt right, and Biga says industry 630 00:36:30,040 --> 00:36:34,160 Speaker 1: wide sales of yogurt are up eleven percent last year. 631 00:36:34,200 --> 00:36:39,440 Speaker 1: Eleven percent. That is phenomenal growth. It sure beats milk milk, 632 00:36:39,760 --> 00:36:43,799 Speaker 1: where sales only rows two percent, which makes sense when 633 00:36:43,840 --> 00:36:46,040 Speaker 1: you think about it, because who wants milk in liquid 634 00:36:46,120 --> 00:36:48,279 Speaker 1: form when you can get it thick and lumpy in 635 00:36:48,320 --> 00:36:52,920 Speaker 1: the form of yogurt. Yogurt, ladies and gentlemen, is milk 636 00:36:53,040 --> 00:36:56,720 Speaker 1: you can eat with a spoon. And now and now 637 00:36:57,000 --> 00:37:00,680 Speaker 1: you get high protein yogurt for muscle gain and probiotic 638 00:37:00,760 --> 00:37:03,480 Speaker 1: yogurt which is great for gut health and reduce sugar 639 00:37:03,719 --> 00:37:06,880 Speaker 1: and all of those kinds of things. It is affordable too, 640 00:37:07,239 --> 00:37:10,080 Speaker 1: Cole says, customers are buying larger tubes of yogurt because 641 00:37:10,080 --> 00:37:13,200 Speaker 1: household budgets, of course, are being squeezed. They're buying single 642 00:37:13,280 --> 00:37:16,319 Speaker 1: serves as well. It does sound a little bit like 643 00:37:16,400 --> 00:37:19,040 Speaker 1: big yogurt has got to me, but I am an 644 00:37:19,080 --> 00:37:25,440 Speaker 1: advocate big yogurt. Yep, big yogurt. It is my favorite 645 00:37:25,640 --> 00:37:27,359 Speaker 1: story of the week. 646 00:37:28,239 --> 00:37:30,360 Speaker 2: What we did found out this week as well, Adam, 647 00:37:30,640 --> 00:37:33,960 Speaker 2: is that Michael every morning likes to have a week 648 00:37:34,040 --> 00:37:39,880 Speaker 2: Bix yogurt on top and whatever the seasonal the seasonal 649 00:37:39,920 --> 00:37:43,279 Speaker 2: fruit of the moment is on top of that, and 650 00:37:43,280 --> 00:37:46,040 Speaker 2: that's what he's had for breakfast for many, many years. 651 00:37:47,200 --> 00:37:47,759 Speaker 3: Michael. 652 00:37:48,560 --> 00:37:51,360 Speaker 4: I know this will be a shock to some listeners, 653 00:37:51,400 --> 00:37:55,080 Speaker 4: but not to use Sean. Michael quite likes his routine 654 00:37:56,200 --> 00:38:02,520 Speaker 4: in general, does and has the breakfast daily. 655 00:38:03,080 --> 00:38:05,879 Speaker 1: Hmmm, the same way crea true habit. 656 00:38:06,800 --> 00:38:11,120 Speaker 4: I'm guessing it has the same time, the same bowl, 657 00:38:11,320 --> 00:38:14,759 Speaker 4: and maybe even the same spoon. Possibly there might even 658 00:38:14,800 --> 00:38:18,279 Speaker 4: be Michael's same spot at the table. Would that be 659 00:38:18,360 --> 00:38:22,120 Speaker 4: any of that be close to the pin? Michael, I 660 00:38:22,320 --> 00:38:24,280 Speaker 4: like a particular spot. 661 00:38:24,920 --> 00:38:30,359 Speaker 1: Oh, and that that includes at the table, on the 662 00:38:30,360 --> 00:38:34,359 Speaker 1: couch in the car. I just like to know that 663 00:38:34,360 --> 00:38:36,000 Speaker 1: that is going to be where I will. 664 00:38:35,880 --> 00:38:43,439 Speaker 4: Be like, are you prepared to sort of share with us, Michael, 665 00:38:43,719 --> 00:38:46,400 Speaker 4: what do it with Sean's sort of feedback to you 666 00:38:46,600 --> 00:38:50,200 Speaker 4: this week around some of these aspects of your life. 667 00:38:50,920 --> 00:38:53,600 Speaker 1: As you would imagine, there's been plenty plenty of. 668 00:38:53,520 --> 00:38:55,680 Speaker 2: Feedback, constructive criticisms. 669 00:38:56,000 --> 00:39:00,840 Speaker 1: There was this a confession actually made that that only 670 00:39:00,920 --> 00:39:09,760 Speaker 1: now is she realizing the many red flags ignored prior 671 00:39:09,880 --> 00:39:15,399 Speaker 1: to deciding to spend the rest of her life She's 672 00:39:15,480 --> 00:39:16,200 Speaker 1: locked in now. 673 00:39:16,400 --> 00:39:19,120 Speaker 2: She didn't She didn't say that, did she? 674 00:39:19,120 --> 00:39:20,200 Speaker 1: She absolutely did. 675 00:39:20,840 --> 00:39:24,240 Speaker 2: I want a cracker. Oh, that's magnificently. 676 00:39:24,080 --> 00:39:25,319 Speaker 1: And I'm sure she means it in. 677 00:39:25,360 --> 00:39:29,480 Speaker 2: A lovely way. I'm not sure. I'm not sure that works, but. 678 00:39:29,360 --> 00:39:32,160 Speaker 3: I certainly love her reaction and well played charp. 679 00:39:33,160 --> 00:39:35,359 Speaker 2: Look, we are so far into this show, we are 680 00:39:35,440 --> 00:39:37,719 Speaker 2: so over time, Adam, You've got to give us the 681 00:39:37,719 --> 00:39:40,040 Speaker 2: score for the landing the favorite. 682 00:39:40,080 --> 00:39:43,560 Speaker 4: All right, So, Sean, I'm sorry, and this will shock you, 683 00:39:44,040 --> 00:39:48,919 Speaker 4: but the economic impact of the oasis hairstyle craze is 684 00:39:48,960 --> 00:39:53,720 Speaker 4: a zero. So afraid you lose this one her favorite 685 00:39:53,760 --> 00:39:57,600 Speaker 4: story of the week, and Michael's yogurt story will triumph. 686 00:39:57,680 --> 00:40:01,680 Speaker 2: So what about the hairdressers? What about their small business? Well, 687 00:40:01,719 --> 00:40:07,839 Speaker 2: that's true, very very lack of lack of detail, okay judging. 688 00:40:08,160 --> 00:40:11,759 Speaker 4: Okay, all right, then I'll revise that to one didn't point. 689 00:40:11,760 --> 00:40:14,080 Speaker 1: He didn't even mention that. He didn't mention it during 690 00:40:14,080 --> 00:40:14,479 Speaker 1: your story. 691 00:40:14,520 --> 00:40:19,120 Speaker 4: You can't change no, okay. So on that basis fair, 692 00:40:19,200 --> 00:40:24,080 Speaker 4: fair point and one point for economic impact, the oasis 693 00:40:24,080 --> 00:40:28,440 Speaker 4: is hairstyle craze because it may indeed lift some business, 694 00:40:28,480 --> 00:40:31,400 Speaker 4: and don't we all need that? So Michael, you in 695 00:40:31,560 --> 00:40:34,200 Speaker 4: story for the week, that's too all. So you in 696 00:40:34,239 --> 00:40:37,279 Speaker 4: favorite story the week, too all? It's a dead heat 697 00:40:37,360 --> 00:40:39,759 Speaker 4: on the points eighty eight points each. 698 00:40:40,000 --> 00:40:44,400 Speaker 1: Oh no, in that case, I object. I am lodging 699 00:40:44,440 --> 00:40:48,759 Speaker 1: an appeal because that extra point that you scrounged there 700 00:40:48,840 --> 00:40:52,000 Speaker 1: at the end, Sean, has cost me my victory. 701 00:40:52,120 --> 00:40:56,319 Speaker 2: Adam, Adam, I think you and I I think we 702 00:40:56,320 --> 00:40:59,600 Speaker 2: should give it to Michael because it's such a shallow 703 00:40:59,640 --> 00:41:04,320 Speaker 2: wind for him now, because he can walk away. So 704 00:41:04,480 --> 00:41:06,000 Speaker 2: I won, I won, well, I sort of won. I 705 00:41:06,040 --> 00:41:08,439 Speaker 2: mean they gave it to me, and that's that's kind 706 00:41:08,440 --> 00:41:13,360 Speaker 2: of more fun than a draw to me. Okay, well done, Michael. 707 00:41:13,680 --> 00:41:14,600 Speaker 2: Eighty eight eighty seven. 708 00:41:14,680 --> 00:41:19,280 Speaker 4: I'm revising my revision. Michael, you've won on points. 709 00:41:20,160 --> 00:41:21,560 Speaker 1: This does not feel good. 710 00:41:21,760 --> 00:41:24,160 Speaker 3: Oh, come on, swim around in the victory. 711 00:41:24,360 --> 00:41:26,400 Speaker 1: Oh I will, I will bask in us for a 712 00:41:26,400 --> 00:41:28,360 Speaker 1: little bit, and I shall remind you of it from 713 00:41:28,520 --> 00:41:30,920 Speaker 1: that I won with a story about Yogat. 714 00:41:30,960 --> 00:41:32,360 Speaker 3: There were so many red flags. 715 00:41:32,719 --> 00:41:37,359 Speaker 2: Thank you very much, Sean, Thank you, Michael, thank you Adam. 716 00:41:37,320 --> 00:41:39,840 Speaker 3: Thank you Michael, and thank you Sean, Thank you Adam. 717 00:41:39,960 --> 00:41:42,319 Speaker 1: Great judging today. Make sure you're following the podcast and 718 00:41:42,320 --> 00:41:45,840 Speaker 1: please join us online on LinkedIn, Instagram, TikTok, Facebook, and X. 719 00:41:45,960 --> 00:41:48,560 Speaker 1: I'm Michael Thompson. And that was fear and read. Have 720 00:41:48,600 --> 00:41:49,280 Speaker 1: a great weekend.