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Speaker 1: This is the weekend edition of Fear and Greed business

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Speaker 1: news you can use. I'm Michael Thompson and good morning

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Speaker 1: Adam Lane.

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Speaker 2: Good morning Michael, Now Adam.

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Speaker 1: Our weekend show was all about the two of us,

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Speaker 1: each nominating what we think is the biggest business story

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Speaker 1: of the week, the most remarkable business story, a mystery

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Speaker 1: category to keep our judge on their toes, which is

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Speaker 1: going to be a challenge this week, and our favorite

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Speaker 1: story as well. We are joined every week by a judge.

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Speaker 1: Because this is a competition, it is a debate. It

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Speaker 1: is a very fierce debate, and Adam, with you stepping

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Speaker 1: into the ring this week with Sean away for a

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Speaker 1: few days, we need a special guest judge, and this

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Speaker 1: week that judge is a Fear and Greed regular. Really

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Speaker 1: AMP Deputy Chief Economist Diana Messina. Diana, welcome to the

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Speaker 1: weekend edition.

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Speaker 3: Thank you, it's a pleasure to be here.

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Speaker 1: This is a bit intimidating, honestly, because I mean usually

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Speaker 1: with Adam, I can pick what story he's going to

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Speaker 1: be interested in. With you, I'm assuming it's going to

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Speaker 1: be economic space, and that's kind of Adam's strong suit.

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Speaker 1: So this is going to be a challenge for me

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Speaker 1: in particular. How about for you, Adam.

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Speaker 4: Well, look certainly as stretch for me, because normally I'm

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Speaker 4: sitting back and judging, but this time I've actually had

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Speaker 4: to be a participant.

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Speaker 2: I'm in the arena.

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Speaker 1: Everyone's on their toes today. Now, Deanna, you have listened

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Speaker 1: to this show before, so you would know that the

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Speaker 1: judging criteria that Adam applies are very loose, and he

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Speaker 1: applies them when he feels like it. Sometimes he doesn't

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Speaker 1: at all. Is there anything in particular that you are

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Speaker 1: looking for today from us in judging these stories?

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Speaker 2: Yep.

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Speaker 5: So I've put together a list of five criteria. So

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Speaker 5: one relevance of the story, two timeliness. Three is it

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Speaker 5: unexpected or rare? And sometimes those stories might be a

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Speaker 5: bit more newsworthy. Four, of course, the economic and financial

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Speaker 5: market impact. And I've entertainment factor or what Adam says, melodrama.

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Speaker 1: Oh you know this is good. I'm so glad to

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Speaker 1: hear that you're still looking for melodrama, because that's really

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Speaker 1: what I bring. That's what I bring to the table here.

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Speaker 1: The other ones, they are good. I like the unexpected

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Speaker 1: or rare.

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Speaker 3: I like the contrarian stories.

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Speaker 5: I mean I always tend to follow them myself, and

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Speaker 5: maybe they I guess the economic and financial market impact

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Speaker 5: of the contrarian stories might be less relevant, but they're

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Speaker 5: always more interesting.

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Speaker 1: Oh this is good. Oh this is going to be

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Speaker 1: a great competition. Adam, would you like to kick us off?

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Speaker 1: Then we are going to go for our biggest business

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Speaker 1: news story of the week. First, what have you picked out?

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Speaker 1: And good luck now making it fit into a new

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Speaker 1: set of criteria that full disclosure, you and I did

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Speaker 1: not know what those criteria were going to be just then,

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Speaker 1: so it's going to be a lot of kind of

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Speaker 1: molding as we go, yes, customizing of the story.

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Speaker 5: So I also wanted to add actually Michael said, oh,

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Speaker 5: sometimes I've taken demerit points away.

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Speaker 2: Yeah.

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Speaker 3: I like this and I might apply it, but I

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Speaker 3: don't know yet.

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Speaker 1: I have been trying to get Adam to use demerit

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Speaker 1: points for some time because when I filled in for

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Speaker 1: one week as the judge, I went a little bit

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Speaker 1: nuts with the demerit points and everyone ended up kind

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Speaker 1: of with more demerit points than they did merit points.

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Speaker 1: So I'm glad to hear that you've taken that on

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Speaker 1: board and bring it.

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Speaker 3: Back to see how I feel that.

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Speaker 1: Just the threat it's hanging over us Adam gating tickets.

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Speaker 2: Big story of the week, all right, Diana.

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Speaker 4: My pick of the economic data cake this week and

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Speaker 4: the cherry on top I think is the week retail

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Speaker 4: data building a case for the RBA to make a

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Speaker 4: rate cut. Now, the most important business story this week,

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Speaker 4: I think to many has been hidden in plain sight.

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Speaker 4: The ABS released the May retail trade data showing is

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Speaker 4: seasonally adjusted and very bashful rise of just zero point

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Speaker 4: two percent for the month and three point three percent

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Speaker 4: for the year. Now, very insightful analysts at the AMP

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Speaker 4: and the team, some of who may be here right now,

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Speaker 4: showed that Australia has trended below the long term average

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Speaker 4: of zero point five percent growth all year, with real

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Speaker 4: retail sales per capita and that's sudjusted for inflation declining

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Speaker 4: since January. The modesterise in May was largely driven by

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Speaker 4: colder than usual weather, which led to higher sales in clothing,

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Speaker 4: footwear and personal accessories. Strip that out and the underlying

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Speaker 4: retail growth was even weaker. Discretionary categories remained soft and

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Speaker 4: essentially spending is flat. Meanwhile, building approvals also fell sharply

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Speaker 4: and made highlighting a broader economic slowdown. All of this

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Speaker 4: strengthens the case for the Reserve Bank of Australia cut

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Speaker 4: rates potentially as early as next Tuesday, with more reductions

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Speaker 4: expected in some quarters later in the year. Taken together,

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Speaker 4: the data paint's a clear picture. The consumer is cautious,

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Speaker 4: growth is cooling, and the momentum is shifting towards monetary easing.

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Speaker 2: That makes this the biggest story of the week. Michael,

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Speaker 2: over to.

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Speaker 1: You, Diana before we go on to my story. In

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Speaker 1: your demerit points system, which I'm now assuming that he

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Speaker 1: is absolutely going to be applied, how do you feel

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Speaker 1: about disgraceful sucking up? I feel like that's worthy of

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Speaker 1: a demerit point or two.

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Speaker 3: I love a bit of sucking up. I like the bribes.

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Speaker 1: This is not good. This is not good for me.

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Speaker 3: Because aren't done his homework?

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Speaker 2: Well, yes I did.

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Speaker 1: I've done homework too, I just did not research the

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Speaker 1: right things apparently I've done. It's like doing your homework

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Speaker 1: for the wrong subject at school. Okay, this is not good.

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Speaker 1: Fortunately for me, the facts will win because that is

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Speaker 1: a big story. And if Adam is talking about the

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Speaker 1: fact that all all kind of signs are pointing to

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Speaker 1: a rate cut, you know, I reckon that's going to

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Speaker 1: be the biggest story next week. But I mean that's

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Speaker 1: looking ahead to the future. What we need to focus

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Speaker 1: on is what has happened in the last seven days.

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Speaker 2: Right.

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Speaker 1: The biggest story by far this week, without meaning to

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Speaker 1: exaggerate at all, the performance of the local share market.

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Speaker 2: Right.

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Speaker 1: There was a very subtle nod just then from Deanna.

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Speaker 1: It might have just been that she was looking down

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Speaker 1: to her notepad, but I took it as a nod

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Speaker 1: of support. There are two highlights here if I can

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Speaker 1: just kind of point out two individual things, the first

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Speaker 1: being the end of the financial year, which occurred during

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Speaker 1: the week after which we can say quite incredibly that

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Speaker 1: the local boss had a stellar year last year. Stella

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Speaker 1: does that, Yeah, you agree with that? Yeah, Okay, good

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Speaker 1: nods from Deana. Okay, I'm on track, because after what

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Speaker 1: happens is Sean will kind of just look at me

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Speaker 1: and he's just like shaking his head, going, you've gone

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Speaker 1: too far here, Thompson. But I like this support. This

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Speaker 1: is good. Up nearly ten percent in a year that

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Speaker 1: has been defined by chaos and defined by volatility. That

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Speaker 1: is pretty remarkable and it is huge. It's great news

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Speaker 1: for investors, great news for anyone with a super fund. Gold,

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Speaker 1: tech stocks, financials all out performed in the last twelve months.

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Speaker 1: That would be enough on its own to win, right,

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Speaker 1: But the ASX was not stopping there. It was like

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Speaker 1: it was buoyed by the result, it was fueled by it,

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Speaker 1: just pushing it on to even further highs. It set

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Speaker 1: another record on Wednesday. This week, it hit a closing high.

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Speaker 1: All that economic news that Adam was talking about, and

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Speaker 1: that obviously you kind of focus on every day. The

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Speaker 1: end of that's very important and very critical to this

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Speaker 1: story as well, and the hopes of that rate cut

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Speaker 1: coming next week. Cent shares higher than on Thursday. Everyone

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Speaker 1: started talking about the big switch, the rotation away from

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Speaker 1: the big banks and into the big miners. Just waiting

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Speaker 1: for that catalyst that is going to change sentiment for

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Speaker 1: markets and for investors. There is so much happening on

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Speaker 1: the I'm almost getting overwhelmed by the emotion of it.

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Speaker 1: There is so much happening in the local market right now.

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Speaker 1: This week in particular, it is easily the biggest.

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Speaker 3: Story of the week or the biggest story of the year.

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Speaker 1: Yes, and you're saying that like it's a bad thing,

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Speaker 1: that it's not actually this week's story.

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Speaker 2: Oh no, it's nodding.

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Speaker 1: This is not good. Is please delivering your judgment? I'm

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Speaker 1: assuming now it's going to Adam.

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Speaker 5: So I actually did a search of Google trends in

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Speaker 5: the past seven days to see that's a good sign

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Speaker 5: of what people are interested in over the past seven days,

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Speaker 5: to see, you know, what is the biggest news story

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Speaker 5: of the week. And you both sort of touched on

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Speaker 5: a few of those. A lot of stuff was related

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Speaker 5: to end a financial year, so ato people looking at

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Speaker 5: potential tax adjustments that they can do for the financial year.

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Speaker 5: Rate cuts was mentioned a few times, and I think

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Speaker 5: it was driven by the retail data. We've now seen

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Speaker 5: market pricing for the RBA meeting next week basically increased

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Speaker 5: to well over ninety percent. A few economists were sort

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Speaker 5: of on the fence before the retail data, but I

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Speaker 5: think that this has really pushed market pricing to basically

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Speaker 5: fully priced in a rate cut next week, because market

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Speaker 5: pricing did get down to a lot of as low

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Speaker 5: of about seventy five percent for a rate cut next week.

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Speaker 3: So I have scored.

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Speaker 5: Adam well initially asked got him thirteen, but then because

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Speaker 5: the bribe, I added an extra thirteen out of twenty five.

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Speaker 5: Because of the bribe, I added an extra two, so

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Speaker 5: fifteen out of twenty five across my criteria. Michael initially

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Speaker 5: scored you eleven out of twenty five, but then added

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Speaker 5: an extra one point because you because I like the

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Speaker 5: end of financial year sort of wrap. So Adam wins.

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Speaker 5: I hope I'm invited back.

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Speaker 1: Well, at the moment, I'm going to be honest, it's

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Speaker 1: not looking good because technically you just gave me twelve

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Speaker 1: out of twenty five. I technically failed. Oh.

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Speaker 5: I actually gave you both for number three, which was

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Speaker 5: it was unexpected or rare, I both. I gave you

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Speaker 5: both a zero for that, So that was why I'm

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Speaker 5: a bit of a harsh judge.

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Speaker 1: This is fantastic, brilliant. Oh this is and Adam, I

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Speaker 1: hope you are taking notes on how to be a harsh,

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Speaker 1: powerful firm yet.

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Speaker 2: Fed so much to learn from via.

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Speaker 1: This is great. Let's charge straight on ahead to the

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Speaker 1: most remarkable story of the week. May I go first

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Speaker 1: on this one.

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Speaker 2: Please add yeah, please do, Michael, I.

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Speaker 1: I think it's probably tough to pass this one. The massive,

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Speaker 1: the extraordinarily large cyber attack on Quantus this week. The

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Speaker 1: details of just to give you an idea of the scale,

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Speaker 1: the detail of as many as six million customers might

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Speaker 1: have been stolen here. Luckily there was no credit card details,

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Speaker 1: no passport details, but still it is huge. And what

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Speaker 1: makes this so remarkable is not just the scale of it,

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Speaker 1: because obviously that is significant, but the fact that it

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Speaker 1: was basically an old fashioned hack. Really that we hear

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Speaker 1: about all of these kind of all the new fangled

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Speaker 1: ways of doing this, this was an old fashioned one.

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Speaker 1: The hackers impersonated a Quantus employee and convinced a call

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Speaker 1: center employee based out of the Philippines to give them

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Speaker 1: access to the system. It was that easy, and once

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Speaker 1: they were in, they were able to access all of

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Speaker 1: this data. At this point, it doesn't appear Quantus has

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Speaker 1: said that any of it's actually kind of made it

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Speaker 1: out onto the black market, that it's being sold or

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Speaker 1: anything yet, but it's probably only a matter of time

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Speaker 1: because it appears that this was part of a global

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Speaker 1: effort actually targeting airlines because the FBI was warning of

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Speaker 1: it a few days prior. This massive scale, massive, massive breach,

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Speaker 1: a lot of people affected by this, that even if

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Speaker 1: you've only flown once kind of in the last ten years,

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Speaker 1: as a chance that your details could be caught up

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Speaker 1: in this, and you make this assumption that when you

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Speaker 1: have these big companies like quantas, that your data is

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Speaker 1: going to be safe with them. And again we've seen

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Speaker 1: this with Optus, We've seen it with Medibank as well,

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Speaker 1: that you can assume that and hope that, but really

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Speaker 1: it comes down to the company to make sure that

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Speaker 1: their systems and their processes are in place to make

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Speaker 1: sure that it is the case. I need to give

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Speaker 1: a special shout out to a company that is doing

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Speaker 1: something extraordinary to try and crack down on scammers, and

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Speaker 1: this is Commonwealth Bank. Technically falls just outside of the

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Speaker 1: week because it was kind of from Friday of last week,

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Speaker 1: but it's worth a mention beg because Commonwealth Bank is

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Speaker 1: going to stop scammers by scamming the scammers, which I

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Speaker 1: just think is just so brilliant. They're using AI to

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Speaker 1: do it. They're going to use AI to impersonate customers,

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Speaker 1: They're basically going to waste the scammers time that the

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Speaker 1: scammer will be there talking to a customer who isn't real,

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Speaker 1: a customer with an Australian accent, a customer who is

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Speaker 1: fumbling over the points and looking searching through their wallet

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Speaker 1: to find their credit card, giving fake credit card numbers

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Speaker 1: to these scammers, and in doing so they comm Wealth

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Speaker 1: Bank is going to be gathering information intel on the

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Speaker 1: scammers and putting it all together to not just delay

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Speaker 1: scammers and drag the whole process out, but hopefully then

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Speaker 1: improve systems in the future to make it stronger as well.

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Speaker 1: You put all of that together, can you imagine actually

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Speaker 1: one day where we'll have AI scammers talking to AI

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Speaker 1: customers and no humans ever actually have to get involved

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Speaker 1: in the process. It feels very efficient. Put it all together.

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Speaker 1: Quantus massive scam Commonwealth Bank for a couple of extra

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Speaker 1: bonus points. Remarkable all round, Adam, what have you got?

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Speaker 2: All right?

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Speaker 4: Thank you, Michael Deanna. The name and the topic of

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Speaker 4: this story are so remarkable they may just trump everything else.

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Speaker 4: Donald Trump's Big Beautiful Bill has passed its final hurdle,

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Speaker 4: getting congressional approval and delivering the president a massive political win.

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Speaker 4: What's remarkable about this is the scale of the act,

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Speaker 4: expanding tax breaks for families and businesses, funding his immigration agenda,

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Speaker 4: slashing spending on social programs like Medicaid, and removing a

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Speaker 4: stack of green energy subsidies. But the biggest thing here

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Speaker 4: is the price tag. It's expected to add three point

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Speaker 4: four trillion US dollars to the US debt over the

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Speaker 4: next decade. The President is expected to sign the bill

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Speaker 4: this morning. That's Saturday, our time, and then it's a

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Speaker 4: done deal. One person not happy is and who would

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Speaker 4: have guessed it, Elon Musk. He's called it an insane

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Speaker 4: spending bill and wants to start his own political party

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Speaker 4: to take on Donald Trump and the Republicans. The present

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Speaker 4: doesn't seem too worried about that, threatening the Department of

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Speaker 4: Government efficiency, to look at the subsidies that are going

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Speaker 4: to masks businesses, and even raising the prospect of deporting

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Speaker 4: his old ally. It's drama, it's theater, but now with

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Speaker 4: a big, beautiful bill Act passing Congress, it's law.

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Speaker 2: And that's remarkable. Diana.

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Speaker 5: I like the melodrama with Michael's ending around how he

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Speaker 5: related what's going on with CBA and Ai. I thought

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Speaker 5: that was really interesting, So I scored you. Initially I

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Speaker 5: scored you fifteen out of twenty five, and then I

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Speaker 5: actually added an extra five points because I was impacted,

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Speaker 5: So I gave you twenty out of twenty five. A

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Speaker 5: personal impact, I guess I added an extra category into

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Speaker 5: the criteria.

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Speaker 3: That's the benefit of beigger judge.

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Speaker 1: You can do whatever.

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Speaker 5: I yep, that's right, and I mean, obba, they want

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Speaker 5: to be beautiful. Bill act, of course was important. Was it

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Speaker 5: remarkable though? I mean it was basically expected for a

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Speaker 5: number of weeks. It was surprising that it got passed

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Speaker 5: before the fourth of July. I thought it might have

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Speaker 5: been delayed into last week. The melodrama with Trump and

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Speaker 5: Musk was already around before. Sorry, Adam, fifteen out of

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Speaker 5: twenty five.

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Speaker 1: This is honestly, this is savage.

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Speaker 4: Accepted this judging spectators bought in itself.

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Speaker 1: No, we don't want you to be nice. This is

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Speaker 1: but I wasn't expecting quite the savagery.

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Speaker 3: I think I'm being quite easy.

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Speaker 1: It's a worry. Okay, we're going to take a very

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Speaker 1: quick break and when we come back, we have a

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Speaker 1: mystery category. We'll take a break be back in a second.

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Speaker 1: All right, Adam, we are now moving into our third category.

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Speaker 1: I don't actually know who's in front. I think it's

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Speaker 1: me at the moment, but oh there we go. Great

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Speaker 1: and we have our guest judge, Diana Messina from AMP

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Speaker 1: who is here and being brutal but fair. So our

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Speaker 1: mystery category and Adam, you're going first on this one.

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Speaker 1: There are a couple of really good options around this

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Speaker 1: week for this one, and so we decided to do

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Speaker 1: the best billionaire story of the week, which is a

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Speaker 1: bit of fun. Adam, what did you pick?

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Speaker 4: All right, Michael, Diana, My pick for the best billionaire

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Speaker 4: story of the week is the burger King himself taking

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Speaker 4: on pizza, or rather the Hungry Jack Jack Cowen taking

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Speaker 4: on the CEO role of Domino's Pizza. So Jack Cowen's

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Speaker 4: story in itself is incredible. The eighty two year old

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Speaker 4: founder of Hungry Jack's is going to step in to

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Speaker 4: run Domino's Pizza after the CEO resigned just seven months

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Speaker 4: into the job. Now, as an investor, Cowen already owns

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Speaker 4: twenty seven percent of the company. The share price has

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Speaker 4: dropped from a covid Ra high of over one hundred

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Speaker 4: and sixty dollars to around seventeen dollars now. In response,

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Speaker 4: Jack Cowen has given us one of the quotes of

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Speaker 4: the year quote, I'm the same age as Joe Biden,

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Speaker 4: and Joe Biden is buggered. But my role models a

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Speaker 4: Mick Jagger and Paul McCartney. I've seen both of them

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Speaker 4: on stage three hours, NonStop performing, high energy end of

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Speaker 4: quote and a brilliant one. So while some billionaires occupy

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Speaker 4: themselves with space races, social media tirades and fancy Venetian weddings,

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Speaker 4: Jack Cowen is a humble, eighty two year old billionaire,

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Speaker 4: one of Australia's original fast food kings, hopping onto the

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Speaker 4: pizza oven. The turnaround at Domino's might just come from

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Speaker 4: old school leadership and some extra cheese and maybe a

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Speaker 4: side of fries and a Kirkmichael.

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Speaker 1: Oh that was good. Yes, we love a good homegrown

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Speaker 1: billionaire story. Butts, butts, Adam, you cannot top an international billionaire,

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Speaker 1: a global titan of business, going all out in the

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Speaker 1: most indulgent, flashiest wedding imaginable. I'm getting a lot of

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Speaker 1: nods from Deanna here. This is a very good sign

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Speaker 1: Jeff Bezos, the founder of Amazon, worth around two hundred

351
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Speaker 1: and forty billion US dollars, does fluctuate a little bit,

352
00:18:17,960 --> 00:18:21,080
Speaker 1: got married to Lauren Sanchez this week in Venice with

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Speaker 1: two hundred of their nearest and dearest. Though you actually

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Speaker 1: look at the guest list and there weren't really many

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Speaker 1: kind of family members. I didn't see many Sanchez's or Bezos'

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Speaker 1: is on the on the guest list. It is all celebrities,

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Speaker 1: and it was all other uber rich people. The estimated

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Speaker 1: cost of the wedding, depending on where you looked, it

359
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Speaker 1: changed somewhere around fifty million US dollars seventy million Australia.

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Speaker 1: Just these numbers, regardless of which one you land on,

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Speaker 1: every single number here is staggering. What I love most

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Speaker 1: about this, though, is some of the line items within

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Speaker 1: the wedding budget, right, and you can imagine the Excel

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Speaker 1: spreadsheet for this thing, right, the wedding planner. I'm assuming

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00:19:06,359 --> 00:19:07,720
Speaker 1: they didn't do it themselves. They would have had a

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Speaker 1: wedding planner for this within that fifty million US dollars.

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Speaker 1: And I'm going to thank the Sun newspaper for breaking

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Speaker 1: this down for me. Reserved Marina spots for guests who

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Speaker 1: were arriving by yacht. That cost nine million US dollars

370
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Speaker 1: private jet, parking and security. Just for the parking and

371
00:19:28,320 --> 00:19:32,359
Speaker 1: security alone was another six million dollars for those few days.

372
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Speaker 1: Two million dollars on wine and champagne. One point eight

373
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Speaker 1: million US on weightstaff. That's one point eight million dollars

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Speaker 1: going to waiters and waitresses there to look after the guests.

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Speaker 1: There are one hundred I think it was one hundred

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Speaker 1: and seventy five weightstaff for two hundred guests. That's a

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Speaker 1: pretty good ratio. The service is going to be pretty good,

378
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Speaker 1: and for one point eight million dollars you would expect

379
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Speaker 1: it to be pretty good. One point six million dollars

380
00:19:59,359 --> 00:20:02,200
Speaker 1: on flowers. That's a lot of flowers. This is all

381
00:20:02,240 --> 00:20:04,600
Speaker 1: going back into the Italian economy, right, so this is

382
00:20:04,640 --> 00:20:08,560
Speaker 1: a very good economic story, obviously, was it? Did it

383
00:20:08,680 --> 00:20:10,240
Speaker 1: sound like I just added that bit in?

384
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Speaker 2: Yeah?

385
00:20:10,640 --> 00:20:12,600
Speaker 3: Okay, absolutely, yeah, okay, all right.

386
00:20:12,800 --> 00:20:17,040
Speaker 1: I did one million dollars on custom made costumes for

387
00:20:17,080 --> 00:20:22,040
Speaker 1: the dancers who were performing at three hotels in Venice

388
00:20:22,080 --> 00:20:25,879
Speaker 1: were booked out, two hundred guests, five hundred bottles of

389
00:20:25,960 --> 00:20:29,480
Speaker 1: nineteen ninety six don Perignon at a cost of eight

390
00:20:29,600 --> 00:20:32,760
Speaker 1: hundred thousand dollars. The thing about this for me, right,

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00:20:33,000 --> 00:20:37,040
Speaker 1: I love love, right, I'm a romantic, I love weddings,

392
00:20:37,160 --> 00:20:40,719
Speaker 1: I think they are spectacular, and I love money. All right,

393
00:20:40,920 --> 00:20:43,919
Speaker 1: you put all of these together, but I still find

394
00:20:44,040 --> 00:20:49,439
Speaker 1: this whole thing obscene. It is excessive and a little

395
00:20:49,440 --> 00:20:53,760
Speaker 1: bit grotesque, but as a spectator sport, it is fantastic,

396
00:20:54,040 --> 00:20:56,679
Speaker 1: And honestly, what it's done for the Italian economy this

397
00:20:56,720 --> 00:20:58,720
Speaker 1: week is really quite extraordinary, and I think we need

398
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Speaker 1: to spare a thought for that because it's huge.

399
00:21:02,200 --> 00:21:05,600
Speaker 5: No, but I suppose what else did you expect from them?

400
00:21:05,880 --> 00:21:08,639
Speaker 5: It was only ever going to be lavish, over the top,

401
00:21:08,680 --> 00:21:11,760
Speaker 5: and let's be honest, pretty cringey. I'm glad that someone

402
00:21:11,960 --> 00:21:14,879
Speaker 5: mentioned this wedding because the team at AMP, the Econdo

403
00:21:14,920 --> 00:21:18,720
Speaker 5: Siites team, did cover it earlier this week, but no

404
00:21:18,760 --> 00:21:22,919
Speaker 5: one mentioned the economic impact, the actual GDP impact to

405
00:21:23,280 --> 00:21:25,879
Speaker 5: the Venice economy, the fact that the guests could have

406
00:21:25,920 --> 00:21:30,159
Speaker 5: given or were told to give donation to rebuilding parts

407
00:21:30,200 --> 00:21:34,200
Speaker 5: of Venice. So the actually this interest around wedding start

408
00:21:34,280 --> 00:21:38,399
Speaker 5: for me not because I find Bezos and Sanchez just intriguing,

409
00:21:38,440 --> 00:21:41,640
Speaker 5: but if you compare it to the Ambarne wedding which

410
00:21:41,680 --> 00:21:44,639
Speaker 5: happened late last year in India. That was a six

411
00:21:44,760 --> 00:21:48,639
Speaker 5: hundred million dollar wedding, And I thought, actually, when I

412
00:21:48,720 --> 00:21:51,440
Speaker 5: was thinking about the comparison between the bezos wedding, given

413
00:21:51,440 --> 00:21:54,600
Speaker 5: that he's the third largest billionaire in the world relative

414
00:21:54,640 --> 00:21:57,960
Speaker 5: to Ambarni, this wedding only cost him zero point zero

415
00:21:58,000 --> 00:22:02,280
Speaker 5: two percent of his wealth. Compare that to the average

416
00:22:02,359 --> 00:22:06,200
Speaker 5: Australian scale five percent of their wealth on a wedding.

417
00:22:06,240 --> 00:22:08,639
Speaker 5: In India, some family spent up to fifteen percent of

418
00:22:08,680 --> 00:22:12,520
Speaker 5: their wealth on weddings. So I loved the entertainment of it.

419
00:22:13,520 --> 00:22:16,960
Speaker 5: I think that there is actually an economic impact to

420
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Speaker 5: financial market impact, potentially because of the impacts of Amazon.

421
00:22:19,960 --> 00:22:23,720
Speaker 5: So I did score Michael initially twenty out of twenty five,

422
00:22:23,760 --> 00:22:28,240
Speaker 5: but then I took away three points because the economic

423
00:22:28,280 --> 00:22:32,720
Speaker 5: impact didn't actually address that or the very low share

424
00:22:32,760 --> 00:22:35,480
Speaker 5: of wealth, which I think that was important as well.

425
00:22:35,680 --> 00:22:38,720
Speaker 3: I mentioned, well you did, I wanted a number. I'm

426
00:22:38,720 --> 00:22:39,960
Speaker 3: an economist, Come on, man.

427
00:22:39,880 --> 00:22:41,320
Speaker 1: Yeah, it was likely because I saw you looking at me,

428
00:22:41,359 --> 00:22:43,960
Speaker 1: I'm like, oh god, economic impact mention it mention that

429
00:22:44,400 --> 00:22:45,480
Speaker 1: I thought I got away with it.

430
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Speaker 3: So seventeen out of twenty five. Michael.

431
00:22:47,480 --> 00:22:48,880
Speaker 5: But I do think that I'm glad that you mentioned

432
00:22:48,920 --> 00:22:50,800
Speaker 5: it because it was the best billionaire sto. I think

433
00:22:50,800 --> 00:22:52,960
Speaker 5: it was very relevant, Adam.

434
00:22:53,760 --> 00:22:54,480
Speaker 3: I liked the.

435
00:22:55,960 --> 00:22:57,879
Speaker 5: I actually didn't even know about this story, so I

436
00:22:58,040 --> 00:23:00,159
Speaker 5: liked it that it was sort of new different. I

437
00:23:00,200 --> 00:23:01,840
Speaker 5: hadn't heard about it, so I scored you highly for

438
00:23:01,880 --> 00:23:04,720
Speaker 5: that category. Initially I gave you fifteen out of twenty five,

439
00:23:04,760 --> 00:23:08,439
Speaker 5: and then once you started adding those notes about cheese,

440
00:23:08,480 --> 00:23:10,520
Speaker 5: I was actually when I drove past the pizza place

441
00:23:10,560 --> 00:23:10,760
Speaker 5: when I.

442
00:23:10,760 --> 00:23:12,640
Speaker 3: Actually thought it'd be really great to get.

443
00:23:12,440 --> 00:23:15,320
Speaker 5: Some pizza tonight, and so I added two points because

444
00:23:15,359 --> 00:23:17,280
Speaker 5: I just felt like pizza and you said cheese, and

445
00:23:18,000 --> 00:23:20,080
Speaker 5: I just felt like it. So you both got seventeen

446
00:23:20,080 --> 00:23:20,800
Speaker 5: out of twenty five.

447
00:23:22,359 --> 00:23:23,800
Speaker 2: Scoring system was awesome.

448
00:23:23,960 --> 00:23:26,920
Speaker 1: I think we have now met adam arrival for the

449
00:23:27,080 --> 00:23:31,320
Speaker 1: arbitrariness of the judging. Ky that this is It's brilliant,

450
00:23:31,520 --> 00:23:32,680
Speaker 1: this is extraordinary.

451
00:23:32,840 --> 00:23:35,600
Speaker 2: Come, Michael, let's go favorite story, Bring it home, Bring

452
00:23:35,640 --> 00:23:36,399
Speaker 2: it home? Okay?

453
00:23:36,440 --> 00:23:42,000
Speaker 1: Shall I shall go first on this? It's Diana. This

454
00:23:42,040 --> 00:23:45,159
Speaker 1: is my favorite story of the week. Right. It is

455
00:23:45,240 --> 00:23:49,680
Speaker 1: not often that we get a good train story on

456
00:23:49,720 --> 00:23:54,080
Speaker 1: this podcast. And I need to admit something to you, Diana,

457
00:23:55,240 --> 00:23:58,000
Speaker 1: that yesterday, while I was preparing for this, because I

458
00:23:58,080 --> 00:24:04,119
Speaker 1: have no idea apart from economics and numbers and the

459
00:24:04,160 --> 00:24:07,000
Speaker 1: social media videos and things, I don't know what you like.

460
00:24:07,240 --> 00:24:10,160
Speaker 1: I don't know what stories you're interested in. So at

461
00:24:10,160 --> 00:24:12,760
Speaker 1: one point, if you check my Google search history, at

462
00:24:12,800 --> 00:24:16,360
Speaker 1: one point yesterday you will see a search does Diana

463
00:24:16,440 --> 00:24:23,119
Speaker 1: Messina like trains? And unfortunately it did not give me

464
00:24:23,160 --> 00:24:23,760
Speaker 1: any answer.

465
00:24:23,920 --> 00:24:25,800
Speaker 2: The Venn diagrams didn't allow.

466
00:24:25,720 --> 00:24:28,800
Speaker 1: How do you feel about trains? Wait for actually you

467
00:24:28,840 --> 00:24:30,960
Speaker 1: know what? Hold that? Let me tell you about a

468
00:24:31,000 --> 00:24:36,280
Speaker 1: particularly fancy, expensive train, the Royal Train. Right, so this

469
00:24:36,320 --> 00:24:38,480
Speaker 1: is not just any normal train. This is the Royal Train.

470
00:24:38,520 --> 00:24:42,879
Speaker 1: It's being decommissioned. It's being shunted into the siding of obsolescence.

471
00:24:43,720 --> 00:24:47,040
Speaker 1: King Charles has made the decision to decommission the nine

472
00:24:47,119 --> 00:24:50,840
Speaker 1: carriage train to save a bit of cash, a decent

473
00:24:50,880 --> 00:24:53,280
Speaker 1: whack of cash. There's been a Royal Train since Queen

474
00:24:53,359 --> 00:24:57,959
Speaker 1: Victoria back in eighteen sixty nine, but to be fair,

475
00:24:58,240 --> 00:25:00,440
Speaker 1: back then the train was kind of important. And now

476
00:25:00,480 --> 00:25:03,600
Speaker 1: there's plenty of other options. There's planes and cars, and

477
00:25:04,440 --> 00:25:06,880
Speaker 1: I don't know where there's Royal motorbikes and monorails and things,

478
00:25:06,920 --> 00:25:09,959
Speaker 1: but I'm sure there's other options. The train is a

479
00:25:10,040 --> 00:25:13,160
Speaker 1: significant drag on the public purse. It's only been used

480
00:25:13,200 --> 00:25:16,320
Speaker 1: twice in the last year. One trip cost forty four

481
00:25:16,400 --> 00:25:20,320
Speaker 1: thousand pounds over two days. It'll make one final trip

482
00:25:20,359 --> 00:25:26,280
Speaker 1: around the UK before being placed likely on public display still,

483
00:25:26,359 --> 00:25:28,960
Speaker 1: and I would urge them to reconsider because it's only

484
00:25:29,000 --> 00:25:32,359
Speaker 1: a relatively minor cost when you consider the total cost

485
00:25:32,800 --> 00:25:36,480
Speaker 1: of Royal travel was four point seven million pounds and

486
00:25:36,560 --> 00:25:42,120
Speaker 1: the biggest single travel item was four hundred thousand pounds

487
00:25:42,119 --> 00:25:46,240
Speaker 1: for the King and Queen to visit where Australia last year.

488
00:25:46,520 --> 00:25:47,040
Speaker 2: There we go.

489
00:25:47,400 --> 00:25:50,199
Speaker 1: We cost a lot of money. May I share with

490
00:25:50,280 --> 00:25:53,000
Speaker 1: you because I'm sensing the passion that you share with

491
00:25:53,119 --> 00:25:57,120
Speaker 1: me for trains. You're not a train fair ae? Oh okay,

492
00:25:57,119 --> 00:26:00,399
Speaker 1: all right, okay. A couple of interesting train facts. Royal

493
00:26:00,440 --> 00:26:04,840
Speaker 1: train facts. It was a state secret until nineteen forty six.

494
00:26:05,960 --> 00:26:06,520
Speaker 2: How about that?

495
00:26:07,000 --> 00:26:09,960
Speaker 1: So for the first eighty odd years of its life

496
00:26:10,119 --> 00:26:12,720
Speaker 1: no one was allowed to know about it. The Royal

497
00:26:12,880 --> 00:26:18,960
Speaker 1: Train travels at around seventy miles per hour, the fastest

498
00:26:19,040 --> 00:26:23,760
Speaker 1: trains in the UK go at about two hundred miles

499
00:26:23,800 --> 00:26:27,159
Speaker 1: per hour. There is a dedicated staff member on the

500
00:26:27,240 --> 00:26:30,320
Speaker 1: Royal Train whose job is to make sure that the

501
00:26:30,359 --> 00:26:33,760
Speaker 1: faster trains go around it and not into the back

502
00:26:33,800 --> 00:26:36,320
Speaker 1: of it. That is a dedicated job. So this is

503
00:26:36,359 --> 00:26:39,160
Speaker 1: economic impact. That person's job is going to be affected.

504
00:26:39,800 --> 00:26:46,200
Speaker 1: It is consistent in its arrival time within fifteen seconds

505
00:26:46,520 --> 00:26:49,200
Speaker 1: of its projected time that it's supposed to get somewhere.

506
00:26:49,280 --> 00:26:51,320
Speaker 1: It is very punctual, and I feel like that is

507
00:26:51,359 --> 00:26:55,240
Speaker 1: something that really makes an economy run smoothly. Punctuality. They

508
00:26:55,280 --> 00:26:58,360
Speaker 1: are my three favorite Royal train facts. Did any of

509
00:26:58,400 --> 00:27:00,439
Speaker 1: them just really get the heart pumping?

510
00:27:01,640 --> 00:27:04,280
Speaker 3: I mean I like that you googled if I like trains.

511
00:27:04,560 --> 00:27:05,359
Speaker 1: Yeah.

512
00:27:05,560 --> 00:27:07,920
Speaker 5: Actually, my husband took me to a train museum once,

513
00:27:08,080 --> 00:27:10,760
Speaker 5: so this story sort of like resonated with me thinking

514
00:27:10,760 --> 00:27:14,439
Speaker 5: back to that train museum that went to in Uzbekistan, and.

515
00:27:14,359 --> 00:27:17,160
Speaker 3: I mean, I don't like not like trains. I really

516
00:27:17,200 --> 00:27:17,760
Speaker 3: like the story.

517
00:27:17,800 --> 00:27:20,720
Speaker 1: Actually, Ah, there we gay and clearly you've got some

518
00:27:20,840 --> 00:27:22,879
Speaker 1: kind of an interest in trains. If you went to a.

519
00:27:22,880 --> 00:27:25,239
Speaker 5: Train while I was dragged, but I was trying to

520
00:27:25,280 --> 00:27:28,560
Speaker 5: make him happy because I took him to my home country.

521
00:27:28,600 --> 00:27:30,800
Speaker 5: So I sort of wanted him to feel like, you know,

522
00:27:30,880 --> 00:27:33,480
Speaker 5: he was involved somehow, and a.

523
00:27:33,440 --> 00:27:36,200
Speaker 1: Train museum was the way to do it. It was I

524
00:27:36,240 --> 00:27:38,200
Speaker 1: would agree, I would go there in a heartbeat.

525
00:27:38,440 --> 00:27:40,840
Speaker 3: Okay, so I gave you some extra bonus points.

526
00:27:41,040 --> 00:27:43,720
Speaker 1: Yes, this is good news, Adam. What have you got

527
00:27:43,720 --> 00:27:44,080
Speaker 1: for us?

528
00:27:45,000 --> 00:27:45,280
Speaker 2: Alright?

529
00:27:45,359 --> 00:27:48,159
Speaker 4: I'm going to display some country by us here with

530
00:27:48,240 --> 00:27:51,920
Speaker 4: a ripping yarn and the impact on business of heroes, Yes,

531
00:27:52,600 --> 00:27:56,880
Speaker 4: everyday humble regional heroes. I have the Guardian to thank

532
00:27:56,920 --> 00:27:57,520
Speaker 4: for this story.

533
00:27:57,560 --> 00:27:58,040
Speaker 2: Indiana.

534
00:27:58,119 --> 00:28:02,000
Speaker 4: I'm going to Shepperton for this one, because sometimes the

535
00:28:02,040 --> 00:28:05,200
Speaker 4: best business stories aren't about markets or technology stocks. They're

536
00:28:05,200 --> 00:28:08,680
Speaker 4: about a person with a dream and fruit, big fruit.

537
00:28:09,240 --> 00:28:12,679
Speaker 4: This week, the city of Shepperton in Victoria announced plans

538
00:28:12,720 --> 00:28:16,879
Speaker 4: to build the world's largest pair. I say this with joy.

539
00:28:17,160 --> 00:28:20,439
Speaker 4: It's a three story fiberglass monument with a budget of

540
00:28:20,640 --> 00:28:23,760
Speaker 4: just over one point three million, to join the assets

541
00:28:23,800 --> 00:28:27,080
Speaker 4: of Big Fruits, vegetables, animals and one big Bogan in

542
00:28:27,160 --> 00:28:30,480
Speaker 4: ninga new South Wales that's set around our country. It's

543
00:28:30,520 --> 00:28:34,480
Speaker 4: the brainchild of the hero of our story, Rocky Varapodio,

544
00:28:34,680 --> 00:28:38,240
Speaker 4: a local grower and proud descendant of Italian migrants who

545
00:28:38,280 --> 00:28:42,720
Speaker 4: helped shape the region's rich and very proud agricultural history.

546
00:28:43,480 --> 00:28:46,960
Speaker 4: The idea celebrate Shepardon's legacy as a fruit bowl for

547
00:28:47,000 --> 00:28:50,160
Speaker 4: the nation with a massive pair and an interactive visitor

548
00:28:50,240 --> 00:28:53,479
Speaker 4: experience to boot. It's more than a photo opportunity. It's

549
00:28:53,560 --> 00:28:57,640
Speaker 4: part of a smart economic strategy, tap into Australia's obsession

550
00:28:57,720 --> 00:29:01,960
Speaker 4: with big roadside icons and bring tourism dollars to regional centers.

551
00:29:02,160 --> 00:29:04,719
Speaker 4: We've got the big banana, the big pineapple, the big lobster,

552
00:29:04,800 --> 00:29:08,000
Speaker 4: big prawn and big bogan and now a big pair.

553
00:29:08,400 --> 00:29:11,480
Speaker 4: It's bold, it's green, and honestly it's great business because

554
00:29:11,600 --> 00:29:15,760
Speaker 4: nothing says regional revitalization quite.

555
00:29:15,280 --> 00:29:18,720
Speaker 2: Like a giant piece of fruit on the highway. Diana

556
00:29:18,880 --> 00:29:19,440
Speaker 2: over to here.

557
00:29:20,840 --> 00:29:23,680
Speaker 5: Well, the Shepherdon bit sort of spoke to me because

558
00:29:24,960 --> 00:29:27,680
Speaker 5: my dad used to have an investment property there, so

559
00:29:28,160 --> 00:29:30,000
Speaker 5: I liked it. I gave you bonus points for that.

560
00:29:30,120 --> 00:29:31,360
Speaker 2: Did you google that, Adam?

561
00:29:31,440 --> 00:29:36,840
Speaker 1: Does anyone in Diana's family have any connection to Shepperton, because.

562
00:29:36,760 --> 00:29:38,440
Speaker 4: I have a miss on that one. No, I didn't,

563
00:29:39,320 --> 00:29:42,760
Speaker 4: and nor was I stalking Dianna. Michael, Well, you weren't

564
00:29:42,760 --> 00:29:43,320
Speaker 4: doing your job.

565
00:29:43,400 --> 00:29:46,600
Speaker 1: Then if you weren't googling what her interests are, then

566
00:29:46,640 --> 00:29:50,760
Speaker 1: you have been ill prepared for today, Adam. Okay, so

567
00:29:51,040 --> 00:29:53,440
Speaker 1: you gave him some bonus points for the Shepherdon reference

568
00:29:53,760 --> 00:29:55,320
Speaker 1: and then he lost them all for the rest of

569
00:29:55,360 --> 00:29:55,760
Speaker 1: the story.

570
00:29:55,840 --> 00:29:56,280
Speaker 2: Is that right?

571
00:29:58,440 --> 00:30:01,360
Speaker 5: Well, there is this, you know, this affinity that Australians have,

572
00:30:02,080 --> 00:30:08,760
Speaker 5: two big things. Yeah, but it wasn't as it didn't

573
00:30:08,760 --> 00:30:11,400
Speaker 5: really warm my heart as much as your train story

574
00:30:11,400 --> 00:30:12,120
Speaker 5: for some reason.

575
00:30:12,320 --> 00:30:13,880
Speaker 3: I don't know why, because trains.

576
00:30:13,600 --> 00:30:17,760
Speaker 1: Do that to people. Just I don't know what roy fact. Yeah, yeah,

577
00:30:17,800 --> 00:30:20,280
Speaker 1: and it's just trains are a very romantic, old fashioned

578
00:30:20,280 --> 00:30:22,880
Speaker 1: way of transport and it just takes us back to

579
00:30:22,920 --> 00:30:23,640
Speaker 1: a simpler time.

580
00:30:23,760 --> 00:30:26,080
Speaker 3: And I also think that Australia doesn't have the good trains.

581
00:30:26,480 --> 00:30:28,680
Speaker 2: No oh, thegan it's a beauty.

582
00:30:28,840 --> 00:30:30,600
Speaker 1: Oh well that's a good point. Yes, but maybe we

583
00:30:30,640 --> 00:30:33,520
Speaker 1: should get the Royal train here. Have you seen the pictures?

584
00:30:33,560 --> 00:30:35,880
Speaker 1: I'm sorry I'm getting a bit obsessed with the Royal Train,

585
00:30:35,880 --> 00:30:37,200
Speaker 1: but have you seen the pictures? Don't even like this

586
00:30:37,360 --> 00:30:40,600
Speaker 1: bathtub on theft that the Queen used to use, and

587
00:30:40,640 --> 00:30:43,520
Speaker 1: it is the dingiest looking thing, like you would expect

588
00:30:43,520 --> 00:30:46,760
Speaker 1: it to be kind of gold and pearls and stuff.

589
00:30:46,840 --> 00:30:48,960
Speaker 1: It is just it looks like the kind of thing

590
00:30:49,000 --> 00:30:50,560
Speaker 1: that you would rip out of your bathroom in the

591
00:30:50,600 --> 00:30:52,840
Speaker 1: middle of a renovation and put something nicer in there.

592
00:30:52,960 --> 00:30:54,600
Speaker 1: That's what's in the Royal train right now.

593
00:30:55,000 --> 00:30:57,120
Speaker 5: I always had these visions, you know, like the old

594
00:30:57,280 --> 00:31:01,240
Speaker 5: school pictures of the Louis Vuitton big trunks. Actually initially

595
00:31:01,240 --> 00:31:03,320
Speaker 5: they were used to transfer people's luggage, but I was,

596
00:31:03,400 --> 00:31:06,440
Speaker 5: you know, had the idea like headscarf, Louis Vuitton trunks

597
00:31:06,480 --> 00:31:08,240
Speaker 5: on a train that's.

598
00:31:08,040 --> 00:31:14,000
Speaker 1: Well apparently back in in the Queen Victoria era train

599
00:31:14,400 --> 00:31:16,320
Speaker 1: it was a very opulent thing. There was a lot

600
00:31:16,320 --> 00:31:18,800
Speaker 1: of gold. It was very very flash but in keeping

601
00:31:18,880 --> 00:31:21,680
Speaker 1: kind of with Queen Elizabeth the second kind of more

602
00:31:21,800 --> 00:31:25,240
Speaker 1: modest approach, it was all scaled back and this dingy

603
00:31:25,280 --> 00:31:26,320
Speaker 1: looking bath went in.

604
00:31:26,840 --> 00:31:27,440
Speaker 2: So there you go.

605
00:31:27,560 --> 00:31:30,920
Speaker 1: It just shows that how kind of it reflects the

606
00:31:30,960 --> 00:31:32,760
Speaker 1: times that we're living in. I've already won, so I

607
00:31:32,760 --> 00:31:34,000
Speaker 1: don't need to butter you up anymore.

608
00:31:34,040 --> 00:31:36,760
Speaker 5: So you did win that category. I gave you twenty

609
00:31:36,760 --> 00:31:39,720
Speaker 5: one out of twenty five. Michael Adam seventeen out of

610
00:31:39,760 --> 00:31:40,360
Speaker 5: twenty five.

611
00:31:40,680 --> 00:31:43,160
Speaker 3: Great effort. I have tallied up the votes.

612
00:31:43,640 --> 00:31:46,920
Speaker 1: Oh did you just do your own drum roll? Yeah,

613
00:31:47,040 --> 00:31:47,959
Speaker 1: this is fantastic.

614
00:31:48,320 --> 00:31:51,840
Speaker 5: So Adam sixty four out of one hundred, and usually

615
00:31:51,920 --> 00:31:53,480
Speaker 5: your numbers are more like in the nineties.

616
00:31:53,640 --> 00:31:56,280
Speaker 1: Yes, because Adam doesn't know how to take points off.

617
00:31:57,920 --> 00:31:59,680
Speaker 5: Oh, I had to take a few points off and

618
00:32:00,000 --> 00:32:01,640
Speaker 5: Michael seventy out of one hundred.

619
00:32:01,800 --> 00:32:02,440
Speaker 3: Well done.

620
00:32:03,040 --> 00:32:05,720
Speaker 5: Sorry, Adam, that is invite me back.

621
00:32:05,920 --> 00:32:07,520
Speaker 1: Oh, I know you'll definitely be. I mean, this has

622
00:32:07,560 --> 00:32:12,000
Speaker 1: been absolutely a journey into some unusual judging criteria and

623
00:32:12,080 --> 00:32:14,120
Speaker 1: I'm starting to learn a few more things about you.

624
00:32:14,240 --> 00:32:15,920
Speaker 1: It's going to be very hard next time you're on

625
00:32:15,960 --> 00:32:18,680
Speaker 1: the show to work in references both to investment properties

626
00:32:18,720 --> 00:32:22,960
Speaker 1: in Shepperton and visiting train museums in Eastern Europe.

627
00:32:23,000 --> 00:32:25,120
Speaker 3: But I'm going to do it Central Asia.

628
00:32:25,720 --> 00:32:31,960
Speaker 1: Sorry, my apologies, mirror like, Oh no, I can't remember

629
00:32:31,960 --> 00:32:32,920
Speaker 1: where you said it was.

630
00:32:33,560 --> 00:32:35,640
Speaker 3: Oh, dear, I think I've take some points off.

631
00:32:35,760 --> 00:32:36,440
Speaker 2: I know you can't.

632
00:32:36,440 --> 00:32:39,720
Speaker 1: The judgments already being made. Okay, I am the victor.

633
00:32:39,800 --> 00:32:43,160
Speaker 1: Thank you very much, Adam for your for your competition today.

634
00:32:44,600 --> 00:32:46,160
Speaker 2: Thank you, Michael, and thank you Diana.

635
00:32:46,400 --> 00:32:48,120
Speaker 1: Diana, thank you so much for joining us.

636
00:32:48,120 --> 00:32:49,240
Speaker 3: It's a pleasure. Thank you so much.

637
00:32:49,280 --> 00:32:51,760
Speaker 1: That was Diana Messina, Deputy Chief Economist at a MP.

638
00:32:52,360 --> 00:32:54,520
Speaker 1: Make sure you're following the podcast and please join us

639
00:32:54,520 --> 00:32:57,880
Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook and x oh Michael Thompson.

640
00:32:57,840 --> 00:32:58,800
Speaker 1: And that was Fear and Greed.

641
00:32:58,960 --> 00:33:00,880
Speaker 2: Have a great weekend, fur,