1
00:00:06,200 --> 00:00:09,559
Speaker 1: Today on Fear and Greed. Donald Trump imposes big tariffs

2
00:00:09,560 --> 00:00:13,520
Speaker 1: on Canada, Mexico, and China, triggering a trade war likely

3
00:00:13,560 --> 00:00:17,720
Speaker 1: to lift global inflation. The local auction market stalls in January,

4
00:00:17,840 --> 00:00:20,880
Speaker 1: with the big two cities of Melbourne and Sydney going backwards,

5
00:00:21,239 --> 00:00:25,400
Speaker 1: and Microsoft warns of deep fake audio content being used

6
00:00:25,440 --> 00:00:28,760
Speaker 1: ahead of the federal election, plus local markets on edge

7
00:00:28,960 --> 00:00:31,920
Speaker 1: ahead of the Trump induced trade war, and the EU

8
00:00:32,120 --> 00:00:35,520
Speaker 1: cracks down on online retailers like Amazon and Timu trying

9
00:00:35,560 --> 00:00:38,440
Speaker 1: to stop fakes. Welcome to Fear and Greed. Daily business

10
00:00:38,479 --> 00:00:40,920
Speaker 1: news for people who make their own decisions. It is Monday,

11
00:00:40,960 --> 00:00:44,320
Speaker 1: the third of February twenty twenty five. I'm Michael Thompson

12
00:00:44,320 --> 00:00:45,760
Speaker 1: and good morning Sean Aylmer.

13
00:00:46,120 --> 00:00:47,200
Speaker 2: Good morning, Michael.

14
00:00:47,800 --> 00:00:50,640
Speaker 1: Massive News Day today, Sean. The main story this morning.

15
00:00:50,720 --> 00:00:54,760
Speaker 1: Donald Trump has levied large tariffs on imports from Canada,

16
00:00:55,040 --> 00:00:58,800
Speaker 1: from Mexico and from China, triggering a trade war that's

17
00:00:58,960 --> 00:01:02,080
Speaker 1: likely to push price is higher globally. This is a

18
00:01:02,120 --> 00:01:03,680
Speaker 1: globally significant story.

19
00:01:04,240 --> 00:01:06,560
Speaker 2: It could be the biggest economic story of the year,

20
00:01:06,640 --> 00:01:09,640
Speaker 2: and I'm not ovastating it. The President issued an executive

21
00:01:09,760 --> 00:01:13,520
Speaker 2: order putting twenty five percent tariffs on Mexican goods going

22
00:01:13,520 --> 00:01:17,000
Speaker 2: into the US. On Canadian goods, with the exception of

23
00:01:17,120 --> 00:01:20,200
Speaker 2: Canadian oil and energy products, that gets a ten percent

24
00:01:20,440 --> 00:01:24,520
Speaker 2: tariff and ten percent tariff on Chinese goods. That's on

25
00:01:24,600 --> 00:01:27,160
Speaker 2: top of the tariffs that are already existing now. The

26
00:01:27,200 --> 00:01:30,400
Speaker 2: reason that there's a carve out for Canadian oil and

27
00:01:30,520 --> 00:01:33,440
Speaker 2: energy products is that Canada is the biggest supplier of

28
00:01:33,600 --> 00:01:36,360
Speaker 2: oil to the US, and the White House said the

29
00:01:36,360 --> 00:01:40,120
Speaker 2: lower tariff for Canadian energy aims to minimize the disruptive effects.

30
00:01:40,400 --> 00:01:43,200
Speaker 2: Mister Trump said he used emergency powers to issue the

31
00:01:43,240 --> 00:01:46,120
Speaker 2: tariffs and I quote because of the major threat of

32
00:01:46,160 --> 00:01:51,600
Speaker 2: illegal aliens and deadly drugs killing our citizens, including fentanyl.

33
00:01:52,160 --> 00:01:55,840
Speaker 2: He has always pushed that fentanyl is entering the US

34
00:01:56,080 --> 00:01:59,480
Speaker 2: via Mexico in Canada, and he blames China for the

35
00:01:59,520 --> 00:02:02,480
Speaker 2: production of it. A White House official later on said

36
00:02:02,480 --> 00:02:04,280
Speaker 2: that tariffs would be lifted as soon as and I

37
00:02:04,320 --> 00:02:09,440
Speaker 2: quote again, Americans stop dying from made in China distributed

38
00:02:09,440 --> 00:02:14,359
Speaker 2: by Mexico and Canada. Fentanyl industry groups and economists condemned

39
00:02:14,400 --> 00:02:18,400
Speaker 2: the decision pretty much immediately. It will raise prices for

40
00:02:18,520 --> 00:02:22,840
Speaker 2: many American families, It'll upend supply chains. There's predictions of

41
00:02:22,840 --> 00:02:26,280
Speaker 2: big job losses and much higher inflation. Mister Trump has

42
00:02:26,320 --> 00:02:30,239
Speaker 2: also said he's likely to levy tariffs on European Union goods.

43
00:02:30,800 --> 00:02:33,440
Speaker 2: Canada and Mexico were quick to say they're going to

44
00:02:33,440 --> 00:02:36,799
Speaker 2: introduce tariffs on US goods. China seed it will take

45
00:02:36,800 --> 00:02:40,919
Speaker 2: the United States to the World Trade Organization. We are

46
00:02:41,120 --> 00:02:43,519
Speaker 2: in the midst of a trade war, Michael.

47
00:02:43,560 --> 00:02:46,399
Speaker 1: Yeah, we certainly are now Sean. We talk so much

48
00:02:46,400 --> 00:02:51,079
Speaker 1: about tariffs, and we talk about the percentage, the increase.

49
00:02:52,120 --> 00:02:55,200
Speaker 1: How does it work though, then on the ground, can

50
00:02:55,200 --> 00:02:58,400
Speaker 1: you give me an example, say of how it actually

51
00:02:58,440 --> 00:03:00,880
Speaker 1: then plays out and I suppose, and what the impact

52
00:03:00,919 --> 00:03:03,760
Speaker 1: is on consumers? Kind of where does this money have

53
00:03:03,800 --> 00:03:04,639
Speaker 1: to come from?

54
00:03:05,360 --> 00:03:10,760
Speaker 2: Okay, So Mexico exports about thirty five billion US dollars

55
00:03:11,200 --> 00:03:14,240
Speaker 2: worth of cars to the US mate in Mexico sold

56
00:03:14,280 --> 00:03:18,240
Speaker 2: in the US. Let's say it's ten thousand dollars for

57
00:03:18,320 --> 00:03:22,320
Speaker 2: a car to be purchased in the US. So a

58
00:03:22,360 --> 00:03:24,240
Speaker 2: car dealer might buy it for ten thousand dollars off

59
00:03:24,240 --> 00:03:30,480
Speaker 2: a Mexican manufacturer. Fair enough from tomorrow that ten thousand

60
00:03:30,720 --> 00:03:35,400
Speaker 2: dollars becomes twelve thousand, five hundred okay, extra twenty five percent.

61
00:03:36,520 --> 00:03:39,080
Speaker 2: The argument is that the car makers in the US,

62
00:03:39,160 --> 00:03:43,720
Speaker 2: based in Michigan around Detroit, they'll benefit create jobs because

63
00:03:43,760 --> 00:03:47,160
Speaker 2: suddenly the Mexican car is twelve thousand, five hundred, So

64
00:03:47,400 --> 00:03:52,240
Speaker 2: the home car industry will be much more competitive. It's true,

65
00:03:52,520 --> 00:03:54,680
Speaker 2: you know, they're competing against a more expensive car. They

66
00:03:54,680 --> 00:03:56,720
Speaker 2: will be more competitive, but they only need to buy

67
00:03:56,760 --> 00:03:58,680
Speaker 2: a car. Oh, they only need to create a car

68
00:03:59,160 --> 00:04:02,400
Speaker 2: for twelvesand four hundred and ninety nine dollars to make

69
00:04:02,440 --> 00:04:04,400
Speaker 2: it cheaper than the Mexican car.

70
00:04:04,960 --> 00:04:07,280
Speaker 1: With me, so far, I am I am following the

71
00:04:07,280 --> 00:04:11,520
Speaker 1: big question that I'm just hearing you say this, I'm going.

72
00:04:11,560 --> 00:04:14,840
Speaker 1: But still, so it's more expensive, right.

73
00:04:15,200 --> 00:04:18,320
Speaker 2: Who pays that twelve thousand, five hundred or who pays

74
00:04:18,360 --> 00:04:22,520
Speaker 2: that four hundred and ninety nine consumers? You can't get

75
00:04:22,520 --> 00:04:27,280
Speaker 2: away from that. It's actually propping up a less efficient

76
00:04:27,360 --> 00:04:31,000
Speaker 2: industry in the US, and in the end, consumers pay

77
00:04:31,040 --> 00:04:33,800
Speaker 2: for it. That's why it's inflationary. And this is going

78
00:04:33,839 --> 00:04:36,719
Speaker 2: to happen across hundreds of billions of dollars worth of

79
00:04:36,720 --> 00:04:40,400
Speaker 2: goods might be good social policy. Fantanel is an absolute

80
00:04:40,400 --> 00:04:43,159
Speaker 2: scourge on society. Maybe it's good social policy, but it

81
00:04:43,200 --> 00:04:47,440
Speaker 2: is awful economic policy up until about ten years ago,

82
00:04:47,520 --> 00:04:50,000
Speaker 2: until twenty sixteen Trump, But it was probably happening a

83
00:04:50,040 --> 00:04:54,159
Speaker 2: little bit before Trump administration. One. The world was pushing

84
00:04:54,279 --> 00:04:57,480
Speaker 2: really hard until they call multily out all trade deals

85
00:04:57,520 --> 00:05:00,240
Speaker 2: basically allowing free trade. You know, Australias had all these free

86
00:05:00,279 --> 00:05:02,839
Speaker 2: trade deals in that, like we're pushing really hard. Donald

87
00:05:02,839 --> 00:05:06,640
Speaker 2: Trump stopped that. This turns it on its head and

88
00:05:06,760 --> 00:05:08,320
Speaker 2: everything gets more expensive.

89
00:05:08,800 --> 00:05:11,320
Speaker 1: It's almost a hard one then to sell politically, he

90
00:05:11,360 --> 00:05:13,960
Speaker 1: would think, even for someone who is as skilled at

91
00:05:14,000 --> 00:05:17,960
Speaker 1: that as Donald Trump is, because you're expecting then the

92
00:05:18,000 --> 00:05:23,000
Speaker 1: patriotism of consumers to trump their need and desire to

93
00:05:23,880 --> 00:05:26,919
Speaker 1: buy cheaper goods, right, because inevitably they will end up

94
00:05:26,920 --> 00:05:28,360
Speaker 1: paying more for these things.

95
00:05:28,160 --> 00:05:32,440
Speaker 2: In the end, hip pocket matters, and Donald Trump risks

96
00:05:32,960 --> 00:05:37,240
Speaker 2: creating enormous inflation in the US and people will turn

97
00:05:37,279 --> 00:05:39,520
Speaker 2: on him. If that's what actually happens.

98
00:05:40,120 --> 00:05:45,200
Speaker 1: It's an extraordinary development. Sure, only the next logical flow

99
00:05:45,240 --> 00:05:47,080
Speaker 1: on question here, and I don't mean to bring it

100
00:05:47,120 --> 00:05:48,760
Speaker 1: all back to us here, but what does it mean

101
00:05:48,800 --> 00:05:49,480
Speaker 1: for Australia?

102
00:05:49,600 --> 00:05:51,400
Speaker 2: Yeah, yeah, well, I mean in many ways, it depends

103
00:05:51,400 --> 00:05:53,880
Speaker 2: on the response of Canada, Mexico and China. Kenna and

104
00:05:53,920 --> 00:05:55,800
Speaker 2: mexico've always said we're going to put tariffs on so

105
00:05:55,839 --> 00:05:58,560
Speaker 2: all of a sudden, all those goods become more expensive.

106
00:05:58,560 --> 00:06:01,239
Speaker 2: No one wins in that. I mean, it really shows

107
00:06:01,279 --> 00:06:02,919
Speaker 2: that being a friend of the US and a Trump

108
00:06:02,920 --> 00:06:05,120
Speaker 2: world is no safeguard. No one is closer to the

109
00:06:05,160 --> 00:06:09,920
Speaker 2: US and Canada. So there's that. It shows that Trump

110
00:06:10,240 --> 00:06:13,559
Speaker 2: will use economic policy tariffs to get what he wants

111
00:06:13,640 --> 00:06:15,839
Speaker 2: on social issues. I'm not sure that the Australia gets

112
00:06:15,839 --> 00:06:18,440
Speaker 2: affected by that. It makes it, I mean the flip

113
00:06:18,440 --> 00:06:21,320
Speaker 2: side those It makes Australia we're not putting tariffs on

114
00:06:21,480 --> 00:06:24,240
Speaker 2: Canadian or Mexican goods a kind of a more attractive

115
00:06:24,279 --> 00:06:27,320
Speaker 2: place for those countries to sell goods compared to the

116
00:06:27,440 --> 00:06:30,640
Speaker 2: US now. I mean, we're going to use the Mexican

117
00:06:30,800 --> 00:06:33,120
Speaker 2: made car as an example. Maybe the freight would be

118
00:06:33,160 --> 00:06:36,760
Speaker 2: too expensive, but kind of a bunch of agricultural products

119
00:06:36,920 --> 00:06:39,680
Speaker 2: that potentially we might get cheaper now because they're not

120
00:06:39,680 --> 00:06:41,719
Speaker 2: selling them into the US, So that actually might be

121
00:06:41,880 --> 00:06:44,560
Speaker 2: a good thing for Australia. The biggest fear is what

122
00:06:44,600 --> 00:06:49,919
Speaker 2: it means to global trade overall. If it slows global trade.

123
00:06:49,960 --> 00:06:53,279
Speaker 2: If it slows, you know, the flow of goods, it

124
00:06:53,320 --> 00:06:55,640
Speaker 2: means people aren't making as much money. China's not making

125
00:06:55,640 --> 00:06:57,280
Speaker 2: as much money. China spends a lot of money on

126
00:06:57,279 --> 00:07:00,760
Speaker 2: Australian stuff. That's where we really really do get hurt

127
00:07:00,760 --> 00:07:04,160
Speaker 2: because we're an exporting nation. So too big jump and

128
00:07:04,200 --> 00:07:07,760
Speaker 2: global inflation that would certainly give the Reserve Bank pause

129
00:07:08,200 --> 00:07:13,400
Speaker 2: when it meets next month. It creates enormous uncertainty around

130
00:07:13,520 --> 00:07:18,280
Speaker 2: the Australian dollar, around bond markets, around equity markets, and

131
00:07:18,840 --> 00:07:20,800
Speaker 2: even the fact that the White House said, oh, we'll

132
00:07:20,880 --> 00:07:24,960
Speaker 2: change sorry, they said these tariffs will last until we

133
00:07:25,000 --> 00:07:28,640
Speaker 2: solve the ventanyl problem. I'm paraphrasing there, right, but kind

134
00:07:28,640 --> 00:07:30,320
Speaker 2: of something like that. So does that mean that these

135
00:07:30,320 --> 00:07:33,400
Speaker 2: tariffs are running here for three months and there's just

136
00:07:33,440 --> 00:07:35,480
Speaker 2: the warning and then they'll get rid of them. I

137
00:07:35,480 --> 00:07:40,200
Speaker 2: mean it's crazy. Yeah, there is no set timeline for

138
00:07:40,280 --> 00:07:43,920
Speaker 2: this at all. So okay, speaking of uncertainty, you mentioned

139
00:07:43,920 --> 00:07:46,080
Speaker 2: equity markets, how do you think the local market will

140
00:07:46,120 --> 00:07:49,120
Speaker 2: react today? It'll be going to be really interesting to

141
00:07:49,240 --> 00:07:52,680
Speaker 2: see how some of Australia's biggest companies go so rio

142
00:07:53,120 --> 00:07:56,360
Speaker 2: rio tinto it minds aluminium in Canada sells it into

143
00:07:56,400 --> 00:07:58,440
Speaker 2: the US, this ain't going to be good for them.

144
00:07:58,520 --> 00:08:03,800
Speaker 2: BHP huge hotash operations in Canada. If that sells potash,

145
00:08:03,800 --> 00:08:06,120
Speaker 2: which is a fertilizer into the US, that's going to

146
00:08:06,160 --> 00:08:09,240
Speaker 2: be hit. Northern Star, the gold miner probably falls into

147
00:08:09,240 --> 00:08:11,840
Speaker 2: a similar category. It's going to be really interesting to

148
00:08:11,880 --> 00:08:15,600
Speaker 2: see how their share prices perform this morning. Another interesting

149
00:08:15,640 --> 00:08:18,360
Speaker 2: one is Aristocrat Leisure, so an Australian company, huge gaming

150
00:08:18,400 --> 00:08:22,120
Speaker 2: machine manufacturer. It's got a big facility near Vegas. What

151
00:08:22,240 --> 00:08:25,880
Speaker 2: happens to it? James Hardy manufacturers plasterboard in the US

152
00:08:25,920 --> 00:08:29,440
Speaker 2: and other places. How will that fare? Who knows? It's

153
00:08:29,480 --> 00:08:33,079
Speaker 2: going to be very very interesting few days now. The

154
00:08:33,120 --> 00:08:36,520
Speaker 2: market futures is suggesting our local market will be down

155
00:08:36,520 --> 00:08:39,880
Speaker 2: and want more than one percent today. Last week it

156
00:08:39,880 --> 00:08:43,480
Speaker 2: actually closed off at a record high, so mining, real

157
00:08:43,559 --> 00:08:45,440
Speaker 2: estate tech stocks did really well. At the end of

158
00:08:45,520 --> 00:08:48,679
Speaker 2: last week, the BOSS finished the eighty five hundred and

159
00:08:48,720 --> 00:08:52,600
Speaker 2: thirty two points, which is the record closing high, up

160
00:08:52,640 --> 00:08:54,600
Speaker 2: four and a half a cent for the month. So

161
00:08:56,040 --> 00:08:59,040
Speaker 2: all things considered, it's probably not going to be a

162
00:08:59,080 --> 00:09:03,439
Speaker 2: great day, But we just don't know. We just don't

163
00:09:03,480 --> 00:09:06,320
Speaker 2: know there's more of that uncertainty. Sean, Yeah, Hey, can

164
00:09:06,360 --> 00:09:08,240
Speaker 2: I give you an economics lesson about January? I mean

165
00:09:08,280 --> 00:09:11,360
Speaker 2: everything else has swamped this, but Shane Oliver talks about this,

166
00:09:11,480 --> 00:09:14,720
Speaker 2: so I like this. Yeah, right, So the saying goes,

167
00:09:14,880 --> 00:09:20,120
Speaker 2: as goes January, so goes the year. So since nine eighty,

168
00:09:20,240 --> 00:09:23,199
Speaker 2: eighty five percent of years where there's been a positive

169
00:09:23,280 --> 00:09:26,200
Speaker 2: January have gone on to a positive year in the US,

170
00:09:26,280 --> 00:09:29,320
Speaker 2: seventy six percent in Australia. There you go. So we

171
00:09:29,360 --> 00:09:31,200
Speaker 2: had four and heart we had a really positive January,

172
00:09:31,240 --> 00:09:34,160
Speaker 2: so it does auger well though the world's a different place.

173
00:09:34,400 --> 00:09:38,080
Speaker 1: Yeah, So as goes January, so goes the year? What

174
00:09:38,559 --> 00:09:39,920
Speaker 1: have a trade war in February?

175
00:09:40,080 --> 00:09:40,200
Speaker 2: Though?

176
00:09:41,480 --> 00:09:46,680
Speaker 1: Suddenly that's right, a little bit little bit wonky after that, though, Sean,

177
00:09:47,160 --> 00:09:49,679
Speaker 1: is there anything else? It feels like we've covered a lot.

178
00:09:49,679 --> 00:09:51,440
Speaker 1: We feels like we've covered a whole show's worth of

179
00:09:51,440 --> 00:09:55,040
Speaker 1: content already. But while we're talking about international markets, is

180
00:09:55,040 --> 00:09:57,000
Speaker 1: there anything else going on that we need now?

181
00:09:57,120 --> 00:09:59,920
Speaker 2: I mean the interest rates around the world that pretty

182
00:09:59,920 --> 00:10:02,880
Speaker 2: in US fed are on hold at the moment, but

183
00:10:02,960 --> 00:10:06,240
Speaker 2: the Europe at the ECB in Europe, Bank of Canada

184
00:10:06,320 --> 00:10:09,240
Speaker 2: Swedish Central Bank, they all cut rates last week. Now

185
00:10:09,280 --> 00:10:11,640
Speaker 2: what's happened in the last thirty six hours may make

186
00:10:11,720 --> 00:10:13,480
Speaker 2: a bit of a difference. We're actually in the middle

187
00:10:13,480 --> 00:10:15,319
Speaker 2: of Wall streets earning season. About a third of the

188
00:10:15,360 --> 00:10:17,719
Speaker 2: companies have reported seventy eight percent of beaten expectations, a

189
00:10:17,760 --> 00:10:23,040
Speaker 2: bit better than normal. But really what has happened on

190
00:10:23,280 --> 00:10:27,960
Speaker 2: tariffs will dominate markets, not just for the next few days,

191
00:10:27,960 --> 00:10:29,400
Speaker 2: but I dare say for most of the year.

192
00:10:30,160 --> 00:10:33,640
Speaker 1: Sean for investors, We've got a really interesting interview coming

193
00:10:33,720 --> 00:10:37,200
Speaker 1: up today and that is with Ryan Phillips from Bell

194
00:10:37,320 --> 00:10:38,080
Speaker 1: Financial Group.

195
00:10:38,840 --> 00:10:43,040
Speaker 2: We talked to him about two specific types or cohorts

196
00:10:43,040 --> 00:10:45,920
Speaker 2: of investors who are very different but really interesting. The

197
00:10:45,920 --> 00:10:48,680
Speaker 2: first of day traders, people try and make money every

198
00:10:48,720 --> 00:10:52,080
Speaker 2: day from trading. And the second to high net worth individuals.

199
00:10:52,120 --> 00:10:55,120
Speaker 2: They're much more likely to take a longer term, longer

200
00:10:55,200 --> 00:10:58,079
Speaker 2: term time frame people with a lot of money investing.

201
00:10:58,240 --> 00:11:01,000
Speaker 2: And Ryan works with both side, so he talked to

202
00:11:01,080 --> 00:11:04,400
Speaker 2: me about their strategies, how they do it. It's really fascinating.

203
00:11:04,679 --> 00:11:06,560
Speaker 1: Sure is it is coming up after the show. We

204
00:11:06,600 --> 00:11:08,599
Speaker 1: still have plenty more to get through those show and

205
00:11:08,600 --> 00:11:13,080
Speaker 1: we're talking about the local auction market. That warning from

206
00:11:13,120 --> 00:11:17,240
Speaker 1: Microsoft about deep fake audio which is fascinating particularly for

207
00:11:17,320 --> 00:11:22,240
Speaker 1: the podcast industry to think, and also the EU taking

208
00:11:22,280 --> 00:11:24,280
Speaker 1: on Amazon and a few of the big kind of

209
00:11:24,320 --> 00:11:27,120
Speaker 1: global e commerce players. Fascinating stuff. Will be back in

210
00:11:27,160 --> 00:11:36,280
Speaker 1: a moment with the rest of the day's business news sewn.

211
00:11:36,320 --> 00:11:40,600
Speaker 1: Australia's home auction market has stalled, with no growth in

212
00:11:40,679 --> 00:11:44,840
Speaker 1: January across the country and Sydney, Melbourne and Canberra all

213
00:11:44,880 --> 00:11:45,640
Speaker 1: going backwards.

214
00:11:46,120 --> 00:11:48,520
Speaker 2: Even the boom cities of Adelaide, Perth and Brisbane are

215
00:11:48,640 --> 00:11:53,240
Speaker 2: taking a breather, albeit there still rising. The regions however,

216
00:11:53,440 --> 00:11:55,680
Speaker 2: having a much better time of it. That's thanks to

217
00:11:55,720 --> 00:12:00,360
Speaker 2: internal immigration and healthier affordability that pushed up the riche

218
00:12:00,440 --> 00:12:03,880
Speaker 2: price across the regions across the country by zero point

219
00:12:03,920 --> 00:12:07,000
Speaker 2: four percent last month as as opposed to zero point

220
00:12:07,080 --> 00:12:10,560
Speaker 2: zero percent for the capital cities. Core Logic's Home Value

221
00:12:10,640 --> 00:12:13,640
Speaker 2: index is now down zero point three percent since the

222
00:12:13,679 --> 00:12:17,000
Speaker 2: peak in October. The good news is that we have

223
00:12:17,120 --> 00:12:20,840
Speaker 2: rate cuts coming. We think we have to put preenthvcs

224
00:12:20,880 --> 00:12:24,880
Speaker 2: around these things now that tends to support house prices.

225
00:12:26,160 --> 00:12:29,280
Speaker 2: What's interesting I find so that the medium price of

226
00:12:29,280 --> 00:12:32,760
Speaker 2: a house in Sydney is now one point two million. Melbourne,

227
00:12:32,800 --> 00:12:34,880
Speaker 2: Adelaine Perth are all about the same now about eight

228
00:12:35,000 --> 00:12:37,480
Speaker 2: hundred thousand. So Melbourne used to be more expensive, but

229
00:12:37,520 --> 00:12:40,880
Speaker 2: Adelaine Perth have been on a tear. Melbourne's gone backwards.

230
00:12:41,000 --> 00:12:43,440
Speaker 2: So the median house price in those three cities are

231
00:12:43,480 --> 00:12:46,360
Speaker 2: about the same. Brisbane's actually nine hundred thousand more expensive,

232
00:12:46,360 --> 00:12:49,719
Speaker 2: canber is more expensive at eight fifty Hobud is the

233
00:12:49,800 --> 00:12:52,680
Speaker 2: cheapest now. Over the weekend fourteen home one hundred homes

234
00:12:52,679 --> 00:12:55,600
Speaker 2: went up for auction. The preliminary clearance rate came in

235
00:12:55,640 --> 00:12:58,240
Speaker 2: at sixty five percent. I suppose the most notable thing

236
00:12:58,280 --> 00:13:02,040
Speaker 2: over the weekend was to pick up in Sydney's preliminary experence. Right,

237
00:13:02,720 --> 00:13:06,400
Speaker 2: but certainly the housing of the home auction market has

238
00:13:06,440 --> 00:13:07,280
Speaker 2: come off the boil.

239
00:13:08,280 --> 00:13:12,360
Speaker 1: I mentioned this next story before. Sean Microsoft has warned

240
00:13:12,480 --> 00:13:15,960
Speaker 1: that deep fake audio content could be used to mislead

241
00:13:16,040 --> 00:13:19,160
Speaker 1: voters and disrupt the federal election later in the year.

242
00:13:20,240 --> 00:13:23,720
Speaker 2: Are you a fake? Michael, am I speaking to a fake?

243
00:13:24,080 --> 00:13:25,120
Speaker 1: Are any of us real?

244
00:13:25,160 --> 00:13:27,400
Speaker 2: Shot? That's right there.

245
00:13:27,559 --> 00:13:30,719
Speaker 1: Greed goes deep. This is this is this is quite something. Now. Look,

246
00:13:30,760 --> 00:13:33,880
Speaker 1: I can assure anyone listening that you and I are

247
00:13:33,920 --> 00:13:37,240
Speaker 1: both real, which is exactly what someone who isn't real.

248
00:13:37,120 --> 00:13:43,480
Speaker 2: Would say I am. Microsoft said that manipulated audio content

249
00:13:43,600 --> 00:13:46,120
Speaker 2: and deep fake videos designed to sound like a political

250
00:13:46,200 --> 00:13:51,400
Speaker 2: candidate could spread quickly on social media. Microsoft Democracy Forward

251
00:13:51,800 --> 00:13:56,120
Speaker 2: Initiative boss Ginny Bdanes is visiting Australia. She said China,

252
00:13:56,200 --> 00:13:59,200
Speaker 2: Russia and Iran among the leaders in electoral interference, often

253
00:13:59,240 --> 00:14:03,200
Speaker 2: hacking accounts and spreading content to mislead voters, She told

254
00:14:03,240 --> 00:14:06,280
Speaker 2: the AFR. She said in the most recent US election,

255
00:14:06,600 --> 00:14:09,120
Speaker 2: it wasn't so much at the presidential level, it was

256
00:14:09,320 --> 00:14:11,600
Speaker 2: much more at a local level that they were doing that.

257
00:14:12,480 --> 00:14:15,480
Speaker 2: Auto deep fakes apparently are the most effective at the

258
00:14:15,480 --> 00:14:19,080
Speaker 2: moment and among the hardest to detect. In a threat

259
00:14:19,080 --> 00:14:21,800
Speaker 2: assessment published last month, the Australian electorc Commission said wile

260
00:14:21,800 --> 00:14:25,880
Speaker 2: attempts to interfere in Australia's democratic processes were common, successful

261
00:14:25,960 --> 00:14:30,000
Speaker 2: interference wasn't so common. However, what Microsoft is now warning

262
00:14:30,440 --> 00:14:34,280
Speaker 2: is particularly around deep fake audio content, they're more likely

263
00:14:34,320 --> 00:14:36,400
Speaker 2: to be successful in the run up to the federal poll,

264
00:14:36,720 --> 00:14:38,000
Speaker 2: which is due in the middle of May.

265
00:14:38,520 --> 00:14:42,240
Speaker 1: This next one's interesting. Sean National Australia Bank is considering

266
00:14:43,000 --> 00:14:47,200
Speaker 1: opening branches in shopping centers on Sundays, and they'll extend

267
00:14:47,320 --> 00:14:50,080
Speaker 1: trading hours to all day on Saturday to more than

268
00:14:50,120 --> 00:14:51,320
Speaker 1: two dozen locations.

269
00:14:51,480 --> 00:14:53,360
Speaker 2: In fact, over the weekend they did have a branch

270
00:14:53,440 --> 00:14:57,000
Speaker 2: open on Sunday. If it does do that, it'll be

271
00:14:57,000 --> 00:14:59,760
Speaker 2: the first major bank to trade on Sunday in decades.

272
00:15:00,080 --> 00:15:03,360
Speaker 2: Both Commonwealth and A and Z experimented with opening some

273
00:15:03,440 --> 00:15:06,720
Speaker 2: outlets on Sundays in the past. NAB said its decision

274
00:15:06,760 --> 00:15:09,000
Speaker 2: to open branches on weekends was not in response to

275
00:15:09,000 --> 00:15:11,880
Speaker 2: political pressure. According to the Finn, instead, it's in the

276
00:15:11,880 --> 00:15:16,080
Speaker 2: hope of increasing customer satisfaction scores. After positive feedback from trials,

277
00:15:16,760 --> 00:15:19,360
Speaker 2: later and the Coalition have pushed banks to keep branches open,

278
00:15:19,360 --> 00:15:22,160
Speaker 2: although that effort has been focused pretty much on countrysides

279
00:15:22,240 --> 00:15:24,040
Speaker 2: rather than what's happening in the malls and that around

280
00:15:24,080 --> 00:15:26,560
Speaker 2: the cities. The last time there were significant competition of

281
00:15:26,600 --> 00:15:29,000
Speaker 2: bank branches on weekends was two thousand and seven. That's

282
00:15:29,000 --> 00:15:31,640
Speaker 2: on Comwealth Bank pushed into it, A and Z did

283
00:15:31,640 --> 00:15:34,360
Speaker 2: a bit of it. Westpact and Commonwealth Bank still have

284
00:15:34,600 --> 00:15:37,680
Speaker 2: branches open on Saturdays, but mostly the weekend is off

285
00:15:37,720 --> 00:15:40,560
Speaker 2: limits for banks and it just seems to make sense.

286
00:15:40,920 --> 00:15:43,040
Speaker 2: In malls, that's when all the people are there, so

287
00:15:43,160 --> 00:15:45,840
Speaker 2: you think that's the best time to service your customers.

288
00:15:46,160 --> 00:15:50,880
Speaker 1: Yeah, it's always It has always seemed illogical that banks

289
00:15:50,960 --> 00:15:53,680
Speaker 1: are only open during the hours when everyone else is

290
00:15:53,720 --> 00:15:55,920
Speaker 1: working and can't actually get to the bank.

291
00:15:56,200 --> 00:15:58,920
Speaker 2: If it's a service industry, you'd think they could do better.

292
00:15:59,160 --> 00:16:01,920
Speaker 1: Yeah, indeed, I think we are in furious agreement Sean

293
00:16:02,840 --> 00:16:06,160
Speaker 1: international news time. We've talked a lot about international news already,

294
00:16:06,200 --> 00:16:10,320
Speaker 1: just a couple of quick stories. The European Union plans

295
00:16:10,440 --> 00:16:14,640
Speaker 1: to make e commerce platforms such as Timu, Shean and

296
00:16:15,000 --> 00:16:20,160
Speaker 1: Amazon Marketplace liable for dangerous or illegal products sold online.

297
00:16:20,400 --> 00:16:22,960
Speaker 2: This is really interesting if you use any of those

298
00:16:23,040 --> 00:16:27,200
Speaker 2: particular online products. It's part of a crackdown on the

299
00:16:27,240 --> 00:16:30,320
Speaker 2: flood of imports from China. According to the Financial Times,

300
00:16:30,400 --> 00:16:34,280
Speaker 2: customs reforms would oblige online platforms to provide data before

301
00:16:34,320 --> 00:16:37,920
Speaker 2: the goods actually arrive in Europe and the European Union region.

302
00:16:38,440 --> 00:16:42,600
Speaker 2: That allows officials better control what happens at the moment.

303
00:16:42,640 --> 00:16:45,280
Speaker 2: Any individual in the EU who purchases a good online

304
00:16:45,480 --> 00:16:48,880
Speaker 2: is treated as the importer for customs purposes, So if

305
00:16:48,920 --> 00:16:51,760
Speaker 2: there's a problem, it's the individual who gets into trouble.

306
00:16:52,000 --> 00:16:57,040
Speaker 2: The reforms, if adopted, switches that responsibility to the platforms.

307
00:16:57,440 --> 00:16:59,960
Speaker 2: All this comes mid concerns about the rise in dane

308
00:17:00,360 --> 00:17:04,960
Speaker 2: and counterfeit goods shipped from Asia directly to European customers

309
00:17:05,320 --> 00:17:07,960
Speaker 2: and regulator is there want to do something about it.

310
00:17:08,520 --> 00:17:10,520
Speaker 2: I think it's quite an interesting step forward to put

311
00:17:10,520 --> 00:17:13,199
Speaker 2: the owners on the platforms, not the individuals.

312
00:17:13,440 --> 00:17:16,520
Speaker 1: Yeah, it certainly is one more Sean just will squeeze

313
00:17:16,520 --> 00:17:20,560
Speaker 1: this one in quickly. Another underwater data cable has been damaged.

314
00:17:20,680 --> 00:17:24,400
Speaker 1: This is the fourth potential sabotage in the Baltic Sea

315
00:17:24,760 --> 00:17:26,960
Speaker 1: in the last eighteen months. We've been talking about this

316
00:17:27,359 --> 00:17:29,400
Speaker 1: quite a bit last year. You and I both got

317
00:17:29,400 --> 00:17:31,880
Speaker 1: a bit obsessed with undersea cables there from a little while.

318
00:17:31,920 --> 00:17:34,480
Speaker 2: And these are the cables that basically link the world's Internet,

319
00:17:34,520 --> 00:17:37,520
Speaker 2: so if you cut them, you're cutting the Internet. The

320
00:17:37,640 --> 00:17:40,800
Speaker 2: latest one happened a couple of weeks ago between Sweden

321
00:17:41,359 --> 00:17:46,960
Speaker 2: and Latvia. Extensive damage according to reports, probably was deliberate.

322
00:17:47,320 --> 00:17:49,760
Speaker 2: Now previously China and Russia have been linked with damage

323
00:17:49,760 --> 00:17:53,960
Speaker 2: to undersea cable At the moment, NATO is deploying drone, submarines,

324
00:17:54,320 --> 00:17:58,040
Speaker 2: aircraft and the Baltic Sea to help detect and prevent sabotage.

325
00:17:58,640 --> 00:18:01,800
Speaker 2: It is a great one of stuffing up a countries

326
00:18:01,840 --> 00:18:05,320
Speaker 2: communication system is cutting these undersea cables and.

327
00:18:05,280 --> 00:18:07,960
Speaker 1: They really are huge and we did talk about it

328
00:18:08,040 --> 00:18:10,679
Speaker 1: a lot last year. One point six just from memory,

329
00:18:10,720 --> 00:18:15,760
Speaker 1: one point six million kilometers of undersea cables. And of

330
00:18:15,760 --> 00:18:19,040
Speaker 1: that I think it is Australia owns or controls a

331
00:18:19,119 --> 00:18:22,159
Speaker 1: quarter just because it just because of our position in

332
00:18:22,200 --> 00:18:26,399
Speaker 1: the world. Yeah, yeah, amazing, staggering, unbelievable. All right, Sean.

333
00:18:26,560 --> 00:18:29,680
Speaker 1: Two things coming up next. Number one is the Fear

334
00:18:29,680 --> 00:18:33,280
Speaker 1: and Greed the Week Ahead featuring our resident economist Stephen Coucoulis.

335
00:18:33,600 --> 00:18:37,080
Speaker 1: After that Ryan Phillips from Bell Financial Group, which is

336
00:18:37,160 --> 00:18:39,440
Speaker 1: as we've discussed before, all about day traders and high

337
00:18:39,520 --> 00:18:42,840
Speaker 1: net worth individuals, two very different types of investors. It

338
00:18:42,880 --> 00:18:44,920
Speaker 1: is a great one to listen to if you are

339
00:18:44,960 --> 00:18:47,320
Speaker 1: interested in investing as well. They're both coming up in

340
00:18:47,320 --> 00:18:49,440
Speaker 1: the Fear and Greed playlist on your podcast platform or

341
00:18:49,480 --> 00:18:52,359
Speaker 1: at Fearangreed dot com TODAU. Thank you very much, Sean,

342
00:18:52,560 --> 00:18:55,560
Speaker 1: Thank you, Michael. It is Monday, the third of February

343
00:18:55,560 --> 00:18:58,359
Speaker 1: twenty twenty five. Make sure you following the podcast and

344
00:18:58,400 --> 00:19:01,560
Speaker 1: please join us online on LinkedIn, on Instagram, x TikTok

345
00:19:01,600 --> 00:19:04,160
Speaker 1: and Facebook. I'm Michael Thompson and that was fear and greed.

346
00:19:04,480 --> 00:19:07,160
Speaker 2: Have a great day.