1
00:00:06,280 --> 00:00:09,200
Speaker 1: Welcome to Fear and Greed business news you can use today.

2
00:00:09,240 --> 00:00:13,320
Speaker 1: Prime Minister Anthony Abernezi recalled Parliament to debate hate speech

3
00:00:13,400 --> 00:00:16,799
Speaker 1: laws and ban hate groups. Black Friday sales spur a

4
00:00:16,880 --> 00:00:20,520
Speaker 1: surge in household spending, and Meta says it has removed

5
00:00:20,600 --> 00:00:24,080
Speaker 1: five hundred and forty thousand users from its Instagram, Facebook,

6
00:00:24,079 --> 00:00:26,640
Speaker 1: and Threads platforms as a result of the social media

7
00:00:26,680 --> 00:00:30,120
Speaker 1: ban for under sixteen year olds, plus the Trump administration

8
00:00:30,280 --> 00:00:33,280
Speaker 1: readies to sue the head of the Federal Reserve, Jerome Powell.

9
00:00:33,600 --> 00:00:36,800
Speaker 1: And A nineteen thirty eight Superman comic book sells for

10
00:00:36,920 --> 00:00:40,440
Speaker 1: twenty two million dollars. It is Tuesday, the thirteenth of

11
00:00:40,560 --> 00:00:44,560
Speaker 1: January twenty twenty six. I'm Michael Thompson, and good morning,

12
00:00:44,560 --> 00:00:45,320
Speaker 1: Sean Aylmer.

13
00:00:45,640 --> 00:00:47,639
Speaker 2: Good morning, Michael. Be a Superman comic.

14
00:00:47,400 --> 00:00:51,720
Speaker 1: Book ban, No, especially not a nineteen thirty eight edition.

15
00:00:51,920 --> 00:00:54,520
Speaker 1: I'd be a little before my time, even before your time, Sean.

16
00:00:54,960 --> 00:00:58,440
Speaker 2: M I loved Richie rich growing up. Oh my favorite

17
00:00:58,520 --> 00:00:59,280
Speaker 2: comic character.

18
00:00:59,520 --> 00:01:02,480
Speaker 1: Oh, you are absolutely right, But this one twenty two

19
00:01:02,560 --> 00:01:04,400
Speaker 1: million dollars. It's a cracker of a story. And we'll

20
00:01:04,400 --> 00:01:06,600
Speaker 1: get to that a little bit later. On the main

21
00:01:06,680 --> 00:01:11,119
Speaker 1: story this morning. Prime Minister Anthony Abernezi will recall Parliament

22
00:01:11,240 --> 00:01:14,560
Speaker 1: on Monday and Tuesday of next week to debate new

23
00:01:14,600 --> 00:01:17,480
Speaker 1: hate speech laws. As a federal government pushes to be

24
00:01:17,600 --> 00:01:20,600
Speaker 1: more proactive around anti Semitism.

25
00:01:20,400 --> 00:01:24,360
Speaker 2: Albanizi will push to make incitement of hatred a crime

26
00:01:24,560 --> 00:01:27,199
Speaker 2: and ban hate groups. In a two day emergency session

27
00:01:27,200 --> 00:01:30,760
Speaker 2: of Parliament starting next Monday, he call on Parliament to

28
00:01:30,800 --> 00:01:33,360
Speaker 2: back his initial plans to deal with the aftermath of

29
00:01:33,400 --> 00:01:36,360
Speaker 2: the Bondai massacum. The Prime Minister said both houses will

30
00:01:36,360 --> 00:01:38,520
Speaker 2: be recalled for two sitting days. The first will be

31
00:01:38,520 --> 00:01:42,200
Speaker 2: set aside for a condolence motion for the victims. The

32
00:01:42,280 --> 00:01:48,320
Speaker 2: anticipated Combating Anti Semitism and Extremism Bill will create serious

33
00:01:48,320 --> 00:01:52,920
Speaker 2: offenses for hate preachers and leaders seeking to radicalize young Australians.

34
00:01:52,960 --> 00:01:57,400
Speaker 2: According to the PM, the anticipated serious Vilification offense will

35
00:01:57,440 --> 00:02:01,000
Speaker 2: criminize in citing hatred on the ground of race and

36
00:02:01,160 --> 00:02:04,200
Speaker 2: carry a maximum penalty of five years. Building on hate

37
00:02:04,280 --> 00:02:08,320
Speaker 2: speech laws passed last year, albany Neisi said it would

38
00:02:08,360 --> 00:02:11,320
Speaker 2: also create a new framework that will enable the Minister

39
00:02:11,360 --> 00:02:15,080
Speaker 2: for Home Affairs to list organizations as prohibited hate groups,

40
00:02:15,440 --> 00:02:18,800
Speaker 2: and it will include the National guns buyback scheme, which

41
00:02:19,000 --> 00:02:21,280
Speaker 2: came into being well at least was announced after the

42
00:02:21,280 --> 00:02:25,480
Speaker 2: Bondi massacrem Once an organization is listed as a hate group,

43
00:02:25,520 --> 00:02:27,440
Speaker 2: it will be a criminal offense to be a member,

44
00:02:27,919 --> 00:02:31,040
Speaker 2: to recruit for it, to donate or receive funds, or

45
00:02:31,080 --> 00:02:35,000
Speaker 2: supperlt that group in any way. Maximum penalties could be

46
00:02:35,160 --> 00:02:36,160
Speaker 2: seven years in jail.

47
00:02:37,040 --> 00:02:40,400
Speaker 1: So essentially, what the government's trying to do here is

48
00:02:40,400 --> 00:02:43,919
Speaker 1: trying to lower that threshold for hate speech, so that

49
00:02:44,040 --> 00:02:46,680
Speaker 1: organizations that have probably come close to crossing that line

50
00:02:46,680 --> 00:02:49,679
Speaker 1: in the past may well be caught up here. What's

51
00:02:49,720 --> 00:02:50,720
Speaker 1: the response been.

52
00:02:50,680 --> 00:02:52,440
Speaker 2: Like, Yeah, I mean, I think that's right what you

53
00:02:52,560 --> 00:02:55,360
Speaker 2: just said. Attorney General Michelle Roland said that the laws

54
00:02:55,360 --> 00:02:59,360
Speaker 2: were developed with consultation from experts and stakeholders, starting with

55
00:02:59,440 --> 00:03:02,360
Speaker 2: members of the Jewish community. The Opposition said it hasn't

56
00:03:02,440 --> 00:03:06,760
Speaker 2: yet seen the legislation, though Leader Susan Lee has been

57
00:03:06,919 --> 00:03:09,399
Speaker 2: critical of a single bill to deal with both hate

58
00:03:09,440 --> 00:03:13,200
Speaker 2: speech and gun reforms. Yesterday said the announcement was a

59
00:03:13,240 --> 00:03:18,120
Speaker 2: political decision aimed at fostering division, not creating unity. That

60
00:03:18,200 --> 00:03:21,520
Speaker 2: doesn't necessarily mean the Opposition won't vote for it, though

61
00:03:21,560 --> 00:03:25,720
Speaker 2: I'd imagine the NATS won't like the changes to gun laws.

62
00:03:26,040 --> 00:03:30,040
Speaker 2: So as it sits in one bill, I think that's

63
00:03:30,080 --> 00:03:32,880
Speaker 2: going to be pretty difficult for the government. Now if

64
00:03:32,880 --> 00:03:36,839
Speaker 2: it splits it into two hate speech, hate groups on

65
00:03:36,840 --> 00:03:40,360
Speaker 2: one side, gun laws on the other, then I think

66
00:03:40,400 --> 00:03:41,960
Speaker 2: the first one would certainly pass.

67
00:03:42,320 --> 00:03:46,560
Speaker 1: Okay, all right, Now, moving away from politics, Sean gold

68
00:03:46,680 --> 00:03:49,640
Speaker 1: hit a new record high yesterday, which we said a

69
00:03:49,680 --> 00:03:51,800
Speaker 1: lot last year, so it's nice to see that we're

70
00:03:51,840 --> 00:03:54,600
Speaker 1: being consistent now. In twenty twenty six, an ounce of

71
00:03:54,680 --> 00:03:59,040
Speaker 1: gold is now worth nearly four thousand, six hundred US dollars,

72
00:03:59,280 --> 00:04:02,640
Speaker 1: and that's on the back elevated geopolitical tensions from Iran

73
00:04:03,240 --> 00:04:05,600
Speaker 1: as well as expectations of rate cuts this year in

74
00:04:05,640 --> 00:04:06,520
Speaker 1: the United States.

75
00:04:07,320 --> 00:04:10,000
Speaker 2: So China, Russia and Australia. With big three gold producers

76
00:04:10,120 --> 00:04:16,080
Speaker 2: higher price, good news from our economy. Biggest gold manufacturer

77
00:04:16,320 --> 00:04:20,000
Speaker 2: gold Digger, Canadian Group. But ASX listed Newmont, well, it's

78
00:04:20,000 --> 00:04:22,440
Speaker 2: got largest gold producer. It's share price. Yes, they was

79
00:04:22,480 --> 00:04:24,840
Speaker 2: up five percent. It's up about one hundred and sixty

80
00:04:24,880 --> 00:04:28,760
Speaker 2: percent over the past year. We're all complaining when Newmont

81
00:04:28,920 --> 00:04:35,080
Speaker 2: took out, Oh, isn't that dreadful? Newmont took out. Michael

82
00:04:35,200 --> 00:04:35,600
Speaker 2: helped me.

83
00:04:36,520 --> 00:04:38,600
Speaker 1: Another news something.

84
00:04:39,040 --> 00:04:41,120
Speaker 2: It was my hometown of Orange, That's where it was.

85
00:04:41,720 --> 00:04:48,680
Speaker 2: This is I'm feeling anyway, when that happened, we were saying, well,

86
00:04:48,760 --> 00:04:51,320
Speaker 2: that's a bit unfair, you know, people ending up with

87
00:04:51,360 --> 00:04:54,920
Speaker 2: a Canadian listed company. But come on, google it. I'm

88
00:04:54,920 --> 00:04:57,800
Speaker 2: trying to waste time here, get it there. Anyway. Point is,

89
00:04:58,400 --> 00:05:03,200
Speaker 2: gold stocks have done really really well, Northern Star, Evolution,

90
00:05:03,440 --> 00:05:06,440
Speaker 2: Regis Resources, Genesis, They've all benefited from the run go

91
00:05:06,480 --> 00:05:07,359
Speaker 2: and Michael hit me with it.

92
00:05:07,480 --> 00:05:12,400
Speaker 1: Yeah, there's no googling here, Sean Newcrest. Isn't it funny

93
00:05:12,560 --> 00:05:16,000
Speaker 1: how quickly that just disappeared from both of our minds

94
00:05:16,000 --> 00:05:18,560
Speaker 1: And just I love standing in the studio just looking

95
00:05:18,560 --> 00:05:22,240
Speaker 1: at each other and just the completely blank expressions on

96
00:05:22,360 --> 00:05:23,080
Speaker 1: both of us.

97
00:05:23,600 --> 00:05:25,640
Speaker 2: I think that one of us had said something that

98
00:05:25,960 --> 00:05:27,240
Speaker 2: neither of us knew the answer to.

99
00:05:27,880 --> 00:05:30,920
Speaker 1: That we should know because we talked about New Crest

100
00:05:31,000 --> 00:05:32,120
Speaker 1: a lot, and we talked about that.

101
00:05:32,720 --> 00:05:36,000
Speaker 2: Oh my god, just this story. Basically, you know, gold

102
00:05:36,040 --> 00:05:38,680
Speaker 2: sector did really well last year, outformed the ASEX, same

103
00:05:38,680 --> 00:05:40,000
Speaker 2: thing the first two weeks of this year.

104
00:05:40,480 --> 00:05:42,599
Speaker 1: It's hard to recover now, isn't it. The rest of

105
00:05:42,680 --> 00:05:46,520
Speaker 1: the ASX did okay yesterday, finishing up zero point five

106
00:05:46,560 --> 00:05:52,320
Speaker 1: percent to eighty seven and fifty nine points. Consumer discretionary

107
00:05:52,320 --> 00:05:56,120
Speaker 1: stocks like West Farmers, Harvey Norman, Eagers, Automotive Rebel, they

108
00:05:56,160 --> 00:05:56,760
Speaker 1: really led.

109
00:05:56,640 --> 00:06:01,839
Speaker 2: The way you can throw gaming group maker Lightened Wonder

110
00:06:02,200 --> 00:06:05,320
Speaker 2: into that crowd as well. Its share price surged eighteen

111
00:06:05,360 --> 00:06:10,160
Speaker 2: percent after its settled litigation with Aristocrat Leisure. Now stay

112
00:06:10,200 --> 00:06:12,760
Speaker 2: with me, it's kind of interesting. Aristocrat Leisure claimed the

113
00:06:12,880 --> 00:06:16,120
Speaker 2: light and Wonder used the Formers, so it's aristocrats trade

114
00:06:16,120 --> 00:06:21,599
Speaker 2: secrets and copyrighted materials in its Dragon Train and Dual

115
00:06:21,640 --> 00:06:25,200
Speaker 2: of the Dragon games their poker machines. Basically, the final

116
00:06:25,240 --> 00:06:28,320
Speaker 2: settlement was for light Wonder to play Aristocrat one hundred

117
00:06:28,320 --> 00:06:32,200
Speaker 2: and ninety million dollars. But investors obviously reckon that's a

118
00:06:32,200 --> 00:06:34,839
Speaker 2: pretty good outcome, so they must have been really worried

119
00:06:34,839 --> 00:06:37,040
Speaker 2: about what was going to happen, and hence you got

120
00:06:37,040 --> 00:06:39,880
Speaker 2: this eighty percent surge in Lightened Wonders share price yesterday.

121
00:06:40,040 --> 00:06:43,760
Speaker 2: One consumer discretionary stock that went the other way super

122
00:06:43,800 --> 00:06:47,039
Speaker 2: Retail owner of super cheap Audo Rebel Sport. Its share

123
00:06:47,080 --> 00:06:51,640
Speaker 2: price fell nearly six percent afterrit downgraded it's December half

124
00:06:51,760 --> 00:06:55,160
Speaker 2: profit guidance. Of course, profit season is February, so the

125
00:06:55,200 --> 00:06:57,360
Speaker 2: few weeks before then we start getting all these companies

126
00:06:57,400 --> 00:07:00,360
Speaker 2: saying things didn't go so well or things better in

127
00:07:00,360 --> 00:07:02,440
Speaker 2: the December half than we thought, and we got all

128
00:07:02,480 --> 00:07:04,039
Speaker 2: these upgrades or downgrades.

129
00:07:04,240 --> 00:07:06,040
Speaker 1: All right, let's take a quick break. There are still

130
00:07:06,040 --> 00:07:07,880
Speaker 1: plenty to come. We'll be back in a moment with

131
00:07:07,920 --> 00:07:17,640
Speaker 1: the rest of the day's business news. Sean household spending

132
00:07:17,720 --> 00:07:20,640
Speaker 1: has risen strongly for the second month in a row,

133
00:07:20,720 --> 00:07:25,080
Speaker 1: which will put put pressure on inflation and higher interest

134
00:07:25,120 --> 00:07:25,800
Speaker 1: rates as well.

135
00:07:26,000 --> 00:07:31,600
Speaker 2: The Black Friday sales drove turnover during November. Clothing, footwear, furnishings,

136
00:07:31,640 --> 00:07:35,080
Speaker 2: and electronics were particularly popular. For the four month, sales

137
00:07:35,120 --> 00:07:38,120
Speaker 2: are up nearly one percent, with increases in turnover for

138
00:07:38,200 --> 00:07:41,640
Speaker 2: eight of the nine different categories for the year, sales

139
00:07:41,640 --> 00:07:45,400
Speaker 2: were more than six point three percent higher. Best was

140
00:07:45,440 --> 00:07:48,760
Speaker 2: furniture and household equipment. Maybe the most interesting one is

141
00:07:48,800 --> 00:07:50,720
Speaker 2: the laggard. So I said, eight of the nine categories

142
00:07:50,760 --> 00:07:53,680
Speaker 2: are up over the year, not alcoholic beverages and tobacco,

143
00:07:54,240 --> 00:07:58,160
Speaker 2: And i'd guarantee you that is mostly about tobacco and

144
00:07:58,360 --> 00:08:01,320
Speaker 2: of course the sale of illegal time back home, which

145
00:08:02,360 --> 00:08:04,480
Speaker 2: one of them. Over the Christmas period, one of the

146
00:08:04,560 --> 00:08:08,560
Speaker 2: kids had a we were away a bit of a

147
00:08:08,600 --> 00:08:10,400
Speaker 2: functions show. I was going to say party, but you know,

148
00:08:10,400 --> 00:08:12,800
Speaker 2: they assured me wasn't a party. They just cosse friends over,

149
00:08:13,000 --> 00:08:15,920
Speaker 2: of course not. I was back and I was amowing

150
00:08:15,960 --> 00:08:17,960
Speaker 2: the lawn and you know, you're sort of going through

151
00:08:17,960 --> 00:08:21,720
Speaker 2: the garden basically, and there's a cigarette packet there, which

152
00:08:22,480 --> 00:08:25,160
Speaker 2: I don't smoke, so I picked it up to throw

153
00:08:25,200 --> 00:08:29,320
Speaker 2: it away. No warnings on it, I mean, obviously illegal tobacco.

154
00:08:29,800 --> 00:08:32,520
Speaker 2: And it was in a I can't remember which, but

155
00:08:32,559 --> 00:08:36,040
Speaker 2: one of the big brand name packages and it called

156
00:08:36,200 --> 00:08:39,520
Speaker 2: that but no warnings, nothing like that. I thought, wow,

157
00:08:39,760 --> 00:08:40,800
Speaker 2: that's kind of interesting.

158
00:08:41,200 --> 00:08:45,000
Speaker 1: Yeah, it's everywhere, right, it is everyone from kind of kids,

159
00:08:45,080 --> 00:08:48,480
Speaker 1: well adult kids, to kind of business people anyone, because

160
00:08:48,520 --> 00:08:50,600
Speaker 1: the price difference is just so extreme.

161
00:08:50,920 --> 00:08:54,280
Speaker 2: Yeah. Yeah, anyway, point of this story, household spinning is up.

162
00:08:54,480 --> 00:08:58,520
Speaker 2: That puts some inflationary pressure into the economy. Meanwhile, the ANS,

163
00:08:58,720 --> 00:09:03,720
Speaker 2: indeed Australian Job ads series fell zero point five percent

164
00:09:03,800 --> 00:09:06,240
Speaker 2: in December, it fell about one and a half percent

165
00:09:06,280 --> 00:09:09,560
Speaker 2: in November, and job ads were down eight percent over

166
00:09:09,600 --> 00:09:12,880
Speaker 2: the six months to December, with weakness concentrated in Queensland

167
00:09:12,920 --> 00:09:14,840
Speaker 2: and Victoria. So on the one hand, you got this

168
00:09:15,320 --> 00:09:19,080
Speaker 2: household spending seemingly doing pretty well, and you'd think inflationary

169
00:09:19,080 --> 00:09:22,439
Speaker 2: pressure is there. However, job ads, which is a leading

170
00:09:22,440 --> 00:09:24,680
Speaker 2: indicator of employment market not so good.

171
00:09:25,360 --> 00:09:28,760
Speaker 1: Now one month on Sean and it's still not clear

172
00:09:29,000 --> 00:09:32,480
Speaker 1: just how successful the social media ban for under sixteen

173
00:09:32,520 --> 00:09:35,120
Speaker 1: year olds has been. On the surface of it was

174
00:09:35,240 --> 00:09:37,200
Speaker 1: looking at some of the numbers, it sounds like it's

175
00:09:37,200 --> 00:09:39,640
Speaker 1: been a success if you ask the platforms, though they

176
00:09:39,640 --> 00:09:42,760
Speaker 1: say it hasn't necessarily been a success. Meta for instance,

177
00:09:42,840 --> 00:09:45,760
Speaker 1: yesterday said it had removed more than five hundred and

178
00:09:45,760 --> 00:09:48,679
Speaker 1: forty thousand users as a result of the change.

179
00:09:48,840 --> 00:09:51,160
Speaker 2: Yes, so from Instagram three hundred and thirty one thousand,

180
00:09:51,200 --> 00:09:54,600
Speaker 2: Facebook one hundred and seventy three thousand threads nearly forty thousand.

181
00:09:54,840 --> 00:09:57,720
Speaker 2: Given there's about a million thirteen fourteen fifteen year olds

182
00:09:57,760 --> 00:10:02,199
Speaker 2: in Australia, a basic means about half are reach by Meta,

183
00:10:02,280 --> 00:10:05,960
Speaker 2: which is pretty spectacular really, I mean they're very back

184
00:10:05,960 --> 00:10:09,080
Speaker 2: of the envelope figures about a third by Instagram. The

185
00:10:09,200 --> 00:10:11,920
Speaker 2: US company said the band I mean provide the information

186
00:10:12,080 --> 00:10:14,120
Speaker 2: we expect to hear more about this story as the

187
00:10:14,160 --> 00:10:18,120
Speaker 2: week goes on. Basically, they said that Bean's ineffectual in

188
00:10:18,160 --> 00:10:21,400
Speaker 2: its current form, though, Say said the only way to

189
00:10:21,440 --> 00:10:25,040
Speaker 2: provide consistent interest through wide protections for younger people is

190
00:10:25,080 --> 00:10:28,800
Speaker 2: to undertake age verification at the app store, which of

191
00:10:28,840 --> 00:10:34,280
Speaker 2: course then puts the owners on you know, Apple, alphabet slash,

192
00:10:34,320 --> 00:10:39,520
Speaker 2: Google those organizations rather than Meta. So I understand that line.

193
00:10:39,559 --> 00:10:43,120
Speaker 2: They're also saying that the algorithm that the idea that

194
00:10:43,720 --> 00:10:49,640
Speaker 2: you can kids won't get content they don't want isn't.

195
00:10:50,559 --> 00:10:54,880
Speaker 2: This doesn't solve that issue, so I mean, way too

196
00:10:54,920 --> 00:10:55,640
Speaker 2: early to tell.

197
00:10:55,880 --> 00:10:59,880
Speaker 1: Yeah, I mean five hundred and forty thousand users a lot.

198
00:11:00,120 --> 00:11:03,360
Speaker 1: Sounds pretty good. Like that sounds like a pretty good start, right, yeah,

199
00:11:03,640 --> 00:11:08,400
Speaker 1: I'd say so anyway, look at US experts experts in

200
00:11:08,480 --> 00:11:11,960
Speaker 1: nating Indeed. Now, just a quick update Sean on the

201
00:11:12,000 --> 00:11:16,120
Speaker 1: fire situation in Victoria. Twelve major fires still burning with

202
00:11:16,160 --> 00:11:19,839
Speaker 1: three emergency warnings in place. Fortunately the worst of the

203
00:11:19,840 --> 00:11:24,240
Speaker 1: threat is over, subject to weather conditions remaining cooler.

204
00:11:24,880 --> 00:11:29,760
Speaker 2: That's right. Yesterday Victoria announced emergency assistance payments of up

205
00:11:29,800 --> 00:11:32,960
Speaker 2: to fifty two hundred and fifty dollars for people who

206
00:11:33,000 --> 00:11:37,280
Speaker 2: lost their homes. There's mental health support also available. In all,

207
00:11:37,400 --> 00:11:40,880
Speaker 2: three hundred and fifty structures were destroyed in the Victorian fires,

208
00:11:40,920 --> 00:11:43,320
Speaker 2: and tragically Amen in his eighties.

209
00:11:43,720 --> 00:11:48,680
Speaker 1: Turning to international news now sean the US Attorney's Office

210
00:11:49,080 --> 00:11:52,760
Speaker 1: in the District of Columbia has opened a criminal investigation

211
00:11:52,920 --> 00:11:55,920
Speaker 1: into Jerome Powell, the head of the US Federal Reserve,

212
00:11:56,400 --> 00:12:00,320
Speaker 1: over the Central Banks renovation of its Washington headquarters and

213
00:12:00,360 --> 00:12:03,600
Speaker 1: whether the chair lied to Congress about the scope of

214
00:12:03,640 --> 00:12:04,280
Speaker 1: the project.

215
00:12:05,080 --> 00:12:08,040
Speaker 2: So it's very much an I mean, it's an opening

216
00:12:08,040 --> 00:12:12,520
Speaker 2: of a major new legal front against Powell, whom the President,

217
00:12:12,559 --> 00:12:16,600
Speaker 2: Donald Trump has continually attacked for resisting his demands to

218
00:12:16,800 --> 00:12:21,640
Speaker 2: cut interstrates significantly. Powell more or less called it a

219
00:12:21,679 --> 00:12:24,760
Speaker 2: witch hunt. I'll quote him. He put out a statement.

220
00:12:24,880 --> 00:12:27,839
Speaker 2: Part of it said, the threat of criminal charges is

221
00:12:27,880 --> 00:12:30,800
Speaker 2: a consequence of the Federal Reserve setting interest rates based

222
00:12:30,840 --> 00:12:33,920
Speaker 2: on our best assessment of what will serve the public,

223
00:12:34,280 --> 00:12:38,280
Speaker 2: rather than following the preference of the president and quote.

224
00:12:38,800 --> 00:12:41,280
Speaker 2: Trump of course, has been very critical of Powell for

225
00:12:41,320 --> 00:12:44,040
Speaker 2: not cutting interest rates harder in the US. He's continually

226
00:12:44,080 --> 00:12:47,160
Speaker 2: threatened to fire him, notwithstanding he actually appointed Powell and

227
00:12:47,240 --> 00:12:53,000
Speaker 2: he can't actually fire him now this particular process. There's

228
00:12:53,040 --> 00:12:56,400
Speaker 2: an indictment, for example, against former FBI director James Comy,

229
00:12:57,280 --> 00:13:01,760
Speaker 2: the New York Attorney General that Tisha Jans, both opponents

230
00:13:01,840 --> 00:13:05,280
Speaker 2: of Trump. Now both were thrown out by a federal

231
00:13:05,400 --> 00:13:08,840
Speaker 2: judge late last year. So this doesn't necessarily mean that

232
00:13:09,160 --> 00:13:11,360
Speaker 2: this is going to go ahead, but it's certainly throwing

233
00:13:11,400 --> 00:13:15,040
Speaker 2: a lot of mud at him, and kind of going

234
00:13:15,120 --> 00:13:18,440
Speaker 2: through this discovery process suggests that they is a court

235
00:13:18,440 --> 00:13:22,080
Speaker 2: case on the way, so it would be interesting to watch.

236
00:13:22,280 --> 00:13:25,880
Speaker 1: It was just quite an extraordinary rebuttal from Jerome Powelough,

237
00:13:26,000 --> 00:13:28,959
Speaker 1: wasn't it, standing up there and just basically coming out

238
00:13:29,000 --> 00:13:31,360
Speaker 1: and saying, this is this is political. This is not

239
00:13:31,480 --> 00:13:34,480
Speaker 1: about anything that they say it is. This is purely political.

240
00:13:34,640 --> 00:13:37,840
Speaker 1: It's just you couldn't you can't imagine that happening here,

241
00:13:38,000 --> 00:13:40,560
Speaker 1: can you? You couldn't imagine the same kind of thing playing out,

242
00:13:40,760 --> 00:13:43,160
Speaker 1: But you wouldn't have said that it was possible in

243
00:13:43,200 --> 00:13:45,400
Speaker 1: the US ten years ago. And here we are, yep,

244
00:13:45,760 --> 00:13:49,240
Speaker 1: exactly right. Now, Let's get to comic books. A slight

245
00:13:49,360 --> 00:13:52,560
Speaker 1: change of pace. Sean I ran nineteen thirty eight copy

246
00:13:52,640 --> 00:13:55,360
Speaker 1: of the comic book that actually introduced Superman to the

247
00:13:55,400 --> 00:13:59,360
Speaker 1: world and also significantly was once stolen from the home

248
00:13:59,400 --> 00:14:03,319
Speaker 1: of Acton Nicholas Cage, has been sold for a record

249
00:14:03,400 --> 00:14:08,000
Speaker 1: fifteen million US dollars or about twenty two million Aussie dollars.

250
00:14:08,400 --> 00:14:11,440
Speaker 2: The private deal four I'll call them the probab name

251
00:14:11,559 --> 00:14:15,920
Speaker 2: Action Comics number one beats the previous record price for

252
00:14:15,960 --> 00:14:18,840
Speaker 2: a comic book, set last November, when a copy of

253
00:14:19,040 --> 00:14:22,120
Speaker 2: Superman Number One, which is different, was sold for nine

254
00:14:22,200 --> 00:14:26,720
Speaker 2: point one two million US. The comic book's new owner

255
00:14:26,760 --> 00:14:28,400
Speaker 2: this is the latest one that bought it for fifteen

256
00:14:28,440 --> 00:14:31,400
Speaker 2: million US wants to a anonymous according to Associated Press.

257
00:14:31,400 --> 00:14:35,080
Speaker 2: To comic, which sold for ten cents when it came out,

258
00:14:35,480 --> 00:14:40,560
Speaker 2: was an anthology of tales about mostly now little known characters,

259
00:14:40,600 --> 00:14:43,240
Speaker 2: so people who are in Superman's life in the early years,

260
00:14:43,680 --> 00:14:47,000
Speaker 2: early weeks, months, but we didn't ever really hear much

261
00:14:47,000 --> 00:14:50,680
Speaker 2: more about them. Over a few panels, it tells the

262
00:14:50,800 --> 00:14:53,800
Speaker 2: origin story of Supman's birth and a dying planet, his

263
00:14:53,880 --> 00:14:56,000
Speaker 2: journey to worth, and his decision as an adult to

264
00:14:56,120 --> 00:15:01,160
Speaker 2: turn his titanic strength into channels that would benefit mankind.

265
00:15:01,600 --> 00:15:05,200
Speaker 2: It's publication marked the beginning of the superhero genre. About

266
00:15:05,240 --> 00:15:08,960
Speaker 2: one hundred copies of this particular comic Action Comics Number

267
00:15:09,040 --> 00:15:13,400
Speaker 2: one are known to exist, according to Metropolis Collectibles Comic

268
00:15:13,560 --> 00:15:17,400
Speaker 2: connect president Vincent Zizzolo, which would be a cracking job

269
00:15:17,440 --> 00:15:21,480
Speaker 2: to have. Basically comics of the world anyway, fifteen million

270
00:15:21,600 --> 00:15:26,360
Speaker 2: US twenty two million Aussie for a comic, and a.

271
00:15:26,320 --> 00:15:29,280
Speaker 1: Lot of the speculation is that the price, I mean

272
00:15:29,280 --> 00:15:33,640
Speaker 1: it is very high, and a large chunk of that

273
00:15:33,720 --> 00:15:35,760
Speaker 1: might be because of the story behind it, the fact

274
00:15:35,760 --> 00:15:39,080
Speaker 1: that it was stolen from Nicholas Cage's house and disappeared,

275
00:15:39,400 --> 00:15:43,680
Speaker 1: recovered and here it is, this artifact that you've got

276
00:15:43,720 --> 00:15:46,480
Speaker 1: to imagine it can't be in the best shape right now.

277
00:15:46,600 --> 00:15:49,240
Speaker 2: Right, ah wonder? I mean, I think if you're spending

278
00:15:49,280 --> 00:15:50,920
Speaker 2: that much, it have to be in pretty good shape.

279
00:15:51,000 --> 00:15:53,320
Speaker 1: Okay, A right, Well, considering neither of us had the

280
00:15:53,320 --> 00:15:55,400
Speaker 1: twenty two million dollars required to buy it, I guess

281
00:15:55,440 --> 00:15:57,800
Speaker 1: we'll never know what condition it is in. Up next

282
00:15:57,960 --> 00:16:00,720
Speaker 1: is Fear and Greed Q and A. It is part

283
00:16:00,760 --> 00:16:04,760
Speaker 1: of our summer series, and today you're speaking with Roger Montgomery.

284
00:16:04,920 --> 00:16:09,720
Speaker 2: And he answers perhaps the biggest question of twenty twenty

285
00:16:09,720 --> 00:16:14,400
Speaker 2: six for equity investors. Are we in an AI bubble?

286
00:16:15,560 --> 00:16:19,520
Speaker 2: And that really is the ultimate question for equity investors

287
00:16:19,560 --> 00:16:22,240
Speaker 2: at the moment, I reckon you should tune in and

288
00:16:22,280 --> 00:16:23,480
Speaker 2: listen to Roger's take on it.

289
00:16:23,880 --> 00:16:25,960
Speaker 1: Yeah, yeah, indeed, it is coming up in the Fear

290
00:16:26,000 --> 00:16:29,200
Speaker 1: and Greed playlist. It'll be there at around about lunchtime today,

291
00:16:29,240 --> 00:16:32,240
Speaker 1: so if you check back around around one o'clock today

292
00:16:32,280 --> 00:16:33,880
Speaker 1: you'll be able to hear that as part of our

293
00:16:34,080 --> 00:16:37,960
Speaker 1: summer series. And Roger as of course from Montgomery Investment

294
00:16:38,080 --> 00:16:39,880
Speaker 1: Management and great supporter of this podcast.

295
00:16:40,160 --> 00:16:42,000
Speaker 2: Thanks very much, Sean, Thank you, Michael.

296
00:16:42,400 --> 00:16:45,200
Speaker 1: It is Tuesday, the thirteenth of January twenty twenty six.

297
00:16:45,400 --> 00:16:47,560
Speaker 1: Make sure you're following the podcast and please join us

298
00:16:47,600 --> 00:16:51,080
Speaker 1: online on LinkedIn, Instagram, ex TikTok, and Facebook. I'm Michael

299
00:16:51,080 --> 00:16:55,760
Speaker 1: Thompson and that was Fear and Greed. Have a great day.