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

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

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: Our Saturday show is 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 as well. We change that one every week, and

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Speaker 1: then our favorite story. It is a competition we each

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Speaker 1: want to win, and every week we are joined by

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Speaker 1: a judge to pick a winner, and that judges our

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Speaker 1: Fear and Greed colleague, Adam Lang Adam, good morning.

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Speaker 3: Good morning Michael, and good morning Sean.

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Speaker 2: Morning Adam. I'm really excited about the Biggest Story of

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Speaker 2: the Week category because it's going to break your heart

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Speaker 2: one way or another. It's going to break your heart.

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Speaker 3: I have to choose.

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Speaker 1: Yeah, it is going to be devastating for you. Adam.

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Speaker 2: Can we just please make a rule for today, no draws?

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Speaker 2: Got no draws allowed in the judging.

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Speaker 3: Yeah, there can be only one.

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Speaker 2: It's like to be a winner in each category, in

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Speaker 2: each category.

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Speaker 3: Got it?

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Speaker 2: Okay, yep, excellent.

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Speaker 1: What are you judging on, Adam? Very briefly, for anyone

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Speaker 1: new to the show.

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Speaker 4: Mostly economic impact, but of course relevant topicality and timeliness.

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Speaker 4: A bit of my subjective bias comes into it, and

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Speaker 4: I do like some melodrama from each of you.

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Speaker 3: You could add it, so have it a go.

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Speaker 1: Well for some of us, it's all we've got. Let's

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Speaker 1: jump in with the biggest story of the week and Sean,

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Speaker 1: shall I go first on this one? Please go for

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Speaker 1: it this week, Adam last, I can say this. It

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Speaker 1: was all about interest rates. I have said it now

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Speaker 1: every week for three weeks, but this week it actually happened.

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Speaker 1: The Reserve Bank Board increased the official cash rate by

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Speaker 1: twenty five basis points to three point eight five percent.

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Speaker 1: The banks were very quick to pass it on to

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Speaker 1: anyone with a home loan. You could almost hear those

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Speaker 1: belts being tightened in houses right across Australia. And that's

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Speaker 1: the goal here. Inflation's too high, the jobs markets very strong,

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Speaker 1: the RBA is dealing and this is the thing that

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Speaker 1: I find fascinating right, is just how different the landscape

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Speaker 1: is that the RBA is dealing with now to when

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Speaker 1: they last cut rates in August last year. It's only

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Speaker 1: six months ago and now they're dealing with an entirely

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Speaker 1: different set of circumstances that's necessitated a major change in set.

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Speaker 1: Is it going to be a one off? Maybe? Reserve

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Speaker 1: Bank Governor Michelle Bullock called it an adjustment, but has

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Speaker 1: left the door open to more hikes if needed. This

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Speaker 1: was the week that we knew was coming. I've been

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Speaker 1: saying it's coming for weeks now, and this week it

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Speaker 1: actually did. Therefore, it is finally time for it and

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Speaker 1: me to win. Sean.

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Speaker 2: Now, that suggests that you haven't won by saying this

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Speaker 2: in the last couple of weeks, which is incorrect, because

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Speaker 2: you've won two weeks ago when the labor market came out.

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Speaker 2: You won that one for some reason, owning it out.

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Speaker 1: See I don't remember these things. I let things go.

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Speaker 1: Someone here doesn't.

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Speaker 2: There could be more hikes this year, Michael. Is that possible?

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Speaker 1: Yes, possible.

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Speaker 2: We're talking like something's gonna happen two or three times

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Speaker 2: this year. Okay. What I'm talking about is generational change.

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Speaker 2: Not just generational change. Its reform, not just reform ADAM

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Speaker 2: tax reform. But it gets better capital gains tax concessions

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Speaker 2: for property investors. Look at the grin on the big

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Speaker 2: man's face. This is what life's about. Last time we

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Speaker 2: had serious capital gains tax concession reform was nineteen ninety

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Speaker 2: nine when Howard government Peter Castillo, the Treasurer, introduced to

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Speaker 2: fift capital gains tax concession for property investors. Well, now

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Speaker 2: this week we've had the Prime Minister saying, yep, we're

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Speaker 2: talking about it. We're going to bring down a reform

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Speaker 2: budget in May. Capital gains tax concessions for property investors

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Speaker 2: is on the table. We know economists think it should change,

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Speaker 2: the Greens think it should change, unions, independence, welfare goods

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Speaker 2: about the other people don't like the idea, the conservative

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Speaker 2: forces of this country which are fairly fairly negligible these days.

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Speaker 2: The point is, if the government actually wanted to do this,

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Speaker 2: it could get through the House of Reps. It only

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Speaker 2: needs Green support in the Senate, so it would ProAb

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Speaker 2: pass this legislation. This is big Michael. You want to

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Speaker 2: say something, go on, jump in.

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Speaker 1: You just said it yourself. If the government wanted to

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Speaker 1: actually do this. It's not even a policy yet, Sean.

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Speaker 1: It's just you can actually just hear that flapping sound.

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Speaker 1: That's that's sound of a flag. It's just been run

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Speaker 1: up the flag pole at the moment. That's all this

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Speaker 1: is right now.

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Speaker 2: It was you were if we're doing this on Tuesday

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Speaker 2: when it first came out in the fin Review, so correct.

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Speaker 2: Then Jim Chalmers came out and said, oh, we're helping

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Speaker 2: with supply at the moment, and then in the last

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Speaker 2: thirty six hours the Prime Minister has confirmed yep, we

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Speaker 2: are looking at it. They've taken to the elect two

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Speaker 2: times twenty sixteen, twenty nineteen, they lost the unlosable election

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Speaker 2: in twenty nineteen. This is on furthers. This is on

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Speaker 2: biggest story probably of the year, probably of the and

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Speaker 2: if this keeps going through to May, I'm just going

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Speaker 2: to use it every day, every week, the biggest story.

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Speaker 1: Of the year till it happens they're looking.

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Speaker 2: I'd just like to say, I mean, how you actually

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Speaker 2: put together is tricky. So the idea is that you

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Speaker 2: know you've got let' see, you buy in place, you

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Speaker 2: own it for ten years, you sell it for ten

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Speaker 2: two years, you still have for two undred thousand dollars more.

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Speaker 2: You only get taxed one hundred thousand dollars like fifty percent.

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Speaker 2: So we've got a great message from Brendan from LinkedIn,

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Speaker 2: who talked about something which the government later in the

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Speaker 2: week then actually came out and said, oh, this is

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Speaker 2: actually a pretty good idea. So Brendan, I don't know

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Speaker 2: whether you've been talking to the government, but they like

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Speaker 2: your idea. It's kind of discounting your discount by whatever

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Speaker 2: inflation rate has hit. So if you hold something, you

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Speaker 2: buy it for a million bucks, you sell it for

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Speaker 2: two million bucks, you've got a million dollar capital gains,

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Speaker 2: So it's five hundred thousand dollars is what you pay

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Speaker 2: capital gains tax on. Right, That's how it works at

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Speaker 2: the moment, if you discounted it by inflation in each

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Speaker 2: of those years over the ten years. So in actual fact,

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Speaker 2: you may well end up with I mean, it's too

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Speaker 2: hard to compound inflation, but for argument's sake, you may

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Speaker 2: end up having in real terms after inflation, two hundred

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Speaker 2: and fifty thousand dollars gains. You actually get the concession

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Speaker 2: on two hundred and fifty thousand, not the five hundred thousand.

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Speaker 2: That's kind of the gist of it. Brandan bought it up.

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Speaker 2: The government's been listing I don't know. Brandan Insights like

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Speaker 2: it very good and it makes sense because we're talking

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Speaker 2: about in real terms here. Personally, I think it's a

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Speaker 2: great idea, Adam.

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Speaker 3: And so controversial.

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Speaker 2: Your heart is going to break. You have to knock

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Speaker 2: back either interest rates or capital gains.

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Speaker 4: Hard to say, isn't it hard to say? But Sean,

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Speaker 4: I've had to take some.

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Speaker 3: Of your words, very wise words.

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Speaker 4: Into count here and saying, but nothing has happened, so yes,

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Speaker 4: it's a possibility, and.

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Speaker 2: So I v Wade Adam ra v Wade draft decision,

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Speaker 2: Remember that went against that that came out.

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Speaker 3: Yes, I did fail on that badly interest rates when

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Speaker 3: it actually happened, and it may not be.

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Speaker 2: So you're saying capital gains tax reform for properit market.

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Speaker 4: I've been I've been teased so many times and I've

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Speaker 4: been hurt, and so I so wanted to happen.

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Speaker 2: Shame, shame, shame.

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Speaker 1: So you're saying that case that any legislation, for instance,

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Speaker 1: must be passed before it can be considered on this

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Speaker 1: show as being a story that.

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Speaker 2: Has that's difficult, that would protests. Two weeks ago you

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Speaker 2: gave him the interest rate ones because it hadn't happened.

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Speaker 2: But yeah, unemployment looked like it was going to happen.

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Speaker 2: Come on, it's a serious.

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Speaker 1: I just I just I've spied a moment when you're

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Speaker 1: down slightly and I was just going to kick you

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Speaker 1: a little bit. Like that's all. That's all this was.

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Speaker 2: It was just that's what that's about.

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Speaker 1: Go for it, kick away? Okay, one nil, good results,

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Speaker 1: good decision. Shall we go on to the most remarkable story?

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Speaker 1: Because this is actually.

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Speaker 2: I call you Antonio from now, Adam. It's obscure, but.

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Speaker 1: Yeah, is there is there a reference that you can

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Speaker 1: publicly explain on this one? Okay, I'm gonna have to

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Speaker 1: do some googling. Give us your most remarkable story? Googling

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Speaker 1: why is Adam called Antonio? Nothing's coming up?

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Speaker 2: Go for it?

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Speaker 3: Why?

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Speaker 2: Most well, how tough it is to get a mining

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Speaker 2: deal done, particularly among the major's resources. Giant Rio Tinto

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Speaker 2: abandoned merger talks with rival glen Corp. It would have

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Speaker 2: created the world's biggest mining company. The two sides basically

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Speaker 2: disagree to have a price and who'd run the new business.

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Speaker 2: Now from any between the lines, Rio was buying green Core.

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Speaker 2: It would have ended up with about six percent of

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Speaker 2: the business. That's what media reports are suggesting what they

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Speaker 2: did yesterday morning, and then also they wanted to be

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Speaker 2: CEO and chair and basically they've had to walk away

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Speaker 2: from the deal. Always was a way for Rio to

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Speaker 2: bowlk up its copper portfolio, take advantage of the searching

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Speaker 2: demand for the metal, clearly coppers. All about the green transition.

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Speaker 2: The third time the two companies have entertained a merger

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Speaker 2: only for the deal not to be consummated also becomes just.

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Speaker 2: I mean, so last year we had Rio trying to

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Speaker 2: buy Anglo American that fell over. Ango American and Tech

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Speaker 2: got together, So there's something there. But these majors they

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Speaker 2: need to consolidate, particularly be HP Rio. They need not

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Speaker 2: just to concide it, but they need more copper assets

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Speaker 2: and it's proving remarkably difficult for them to do it.

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Speaker 1: Michael, Oh god, that should have been a really interesting story,

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Speaker 1: but it's very dull. Let me tell you about something

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Speaker 1: that's heck exciting. And this unlikely capital gains tax speculator.

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Speaker 2: Of a nasty sledge then which one which part is

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Speaker 2: a little kidney punch? What that's very nice at all

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Speaker 2: the fact that it was.

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Speaker 1: Dull, possibly cruel. Oh please, I don't know what it

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Speaker 1: is with the two of you today.

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Speaker 2: Okay, so it's not Antonia. I got that wrong, Adam.

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Speaker 2: I apologize. I'm ignoring Michael. He's boring as I'm going

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Speaker 2: to call you Amy. That's a better example, Amy. Okay,

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Speaker 2: God's going to work it out, wine House, because Antonio

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Speaker 2: was someone who was what I was thinking about, but

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Speaker 2: is no longer didn't fit.

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Speaker 1: Oh this is okay, all right, So but it is

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Speaker 1: something that can be figured out. It's not something obscure

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Speaker 1: from kind of like a personal kind of thing, but

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Speaker 1: it is something that okay, we can figure this out.

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Speaker 3: All right.

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Speaker 1: So all right, you know how much objection? Go on?

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Speaker 2: Yeah, what were you talking about? You just abused me?

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Speaker 2: Go on.

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Speaker 1: No, I was just pointing out the fact that that

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Speaker 1: was just a bit okay, good story. Good's to a

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Speaker 1: big story. Nothing ended up happening. The thing is that

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Speaker 1: this my story is one that actually is going to happen.

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Speaker 1: Unlike the Capital Gain SAX, which is a speculation, this

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Speaker 1: one is actually happening. This is from the government and

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Speaker 1: it is a big, big, big, big, big plan to

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Speaker 1: sell off sixty seven defense sites around Australia. This is

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Speaker 1: pretty remarkable, partly because of the scale right, partly because

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Speaker 1: of what that land can be used for, and partly

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Speaker 1: because it is going to be a very very very

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Speaker 1: bumpy ride as they go through this. They have announced it,

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Speaker 1: this is happening. The goal is to raise something like

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Speaker 1: two billion dollars that can go back into defense and

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Speaker 1: basically everything must go. It feels like it's one of

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Speaker 1: those kind of it's like a car yard at the moment.

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Speaker 1: You've got the historic Victoria Barracks sites in Sydney, Melbourne,

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Speaker 1: Brisbane Rifle Range is being sold, golf course being sold,

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Speaker 1: office blocks being sold, even an island in Sydney Harbor.

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Speaker 1: Everything must go. It's just incredible, right and considering where

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Speaker 1: a lot of these sites are, they are this is

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Speaker 1: prime real estate, right and there's a very good chance

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Speaker 1: it's going to be new housing which will help with

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Speaker 1: these supply challenges there. As expected, I said, this is

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Speaker 1: going to be a very very bumpy ride, and already

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Speaker 1: it is a very very bumpy ride. You've got a

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Speaker 1: lot of people very upset about it. RSL National President

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Speaker 1: Peter Tinley, for instance, said these aren't empty paddocks on

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Speaker 1: a spreadsheet, which I thought was actually quite quite a

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Speaker 1: good line, Richard Miles said, though it is happening. He said,

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Speaker 1: these sites belong to everyone, and at the moment they

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Speaker 1: are locked up behind defense walls, they are much better

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Speaker 1: being put to use, being sold off, and the money

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Speaker 1: being used for something better. And I think it is

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Speaker 1: remarkably ambitious of the government.

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Speaker 2: What Adam doesn't like ambition, capital gains, Tax reform remarkably

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Speaker 2: ambits to sell a few properties, cabal gamesax form doesn't

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Speaker 2: get there. There we go.

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Speaker 1: He's here, he's arrived, he's fired up, he's back. Welcome back, Sean.

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Speaker 1: That's my entry, Adam, take it. Sixty seven Defense starts

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Speaker 1: being sold breast ring.

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Speaker 3: Michael wins.

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Speaker 2: You have just undermined the credibility of this show totally.

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Speaker 1: I love the idea had credibility to begin with, but

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Speaker 1: even that small amount of credibility it had has now been.

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Speaker 2: I's just going to use the drug. The judge, the.

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Speaker 4: Massive the mining deals are incredibly big story and so

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Speaker 4: much it's this passive income that our nation earns that

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Speaker 4: we barely think about. We get a lifestyle we can't

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Speaker 4: afford without mining, and it is so important to our

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Speaker 4: economy every day, so these deals are massive. But this

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Speaker 4: it's quite bold, I think, and politically sensitive, this selling of.

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Speaker 3: Property, capital gains.

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Speaker 2: Tax reform.

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Speaker 3: Well, it hasn't happened yet. I'm so wishing it will.

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Speaker 2: Oh for God, takes two billion dollars worth of property.

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Speaker 3: But can you imagine like Victoria Barracks and the sites.

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Speaker 2: Yeah, it's a dummy spit. It's that's two from two

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Speaker 2: go on, go on.

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Speaker 4: So I'm actually thinking about national service? Do you think

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Speaker 4: I'm too old to give it a go?

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Speaker 2: I reckon, you should give it a go at this point?

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Speaker 3: Two hands go up?

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Speaker 1: I would love I reckon, Adam, you would actually almost

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Speaker 1: be too disciplined for the military.

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Speaker 2: Is that in the handbook?

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Speaker 3: So yeah, where do you do your nding around? Here?

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Speaker 2: A few good men? Where's the mess hall? That in

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Speaker 2: the handbook?

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Speaker 4: But I love the idea of our nation being more

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Speaker 4: conscious of defense and it's been more approachable. So some

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Speaker 4: of that happens by some of these sites being public

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Speaker 4: sites and even commercial sites, and we use them every day.

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Speaker 3: Brilliant. So I think it's a really good idea.

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Speaker 1: All right, I cannot figure out this Amy thing, Sean.

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Speaker 2: I cannot Amy does it again?

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Speaker 1: Okay, I'll keep working on it. I'll use our little

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Speaker 1: break now more of a hit.

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Speaker 2: The next hit will probably actually give it away.

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Speaker 1: Okay, all right, well leave it, tease us with it,

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Speaker 1: double barrel surname. Oh okay, give it. Okay, we'll take

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Speaker 1: a quick break back in the forget the show. But

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Speaker 1: now it's all about figuring out the Amy mystery. We'll

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Speaker 1: be right back, Sean. It is too nil. We are

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Speaker 1: trying to figure out why you are calling Adam Amy.

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Speaker 2: So the I did call him Antonio, but I was

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Speaker 2: sort of showing my age ever so slightly on that one.

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Speaker 1: So it's become Amy, right and with a double barreled surname.

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Speaker 2: Surname. Okay, all right, and it's got to do with

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Speaker 2: his judging, hm hm right, I keep going, okay, Oh.

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Speaker 1: This is this is fantastic. This is a great, a

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Speaker 1: great riddle mystery mystery category so too, Neil, As I said,

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Speaker 1: mystery category today, Adam is a big one. It is

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Speaker 1: all about the fickleness of markets. Right, shall I go first, Sean, You.

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Speaker 2: Do what you want, You're gonna win. I mean, I'm

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Speaker 2: just like I'm still dummy spitting.

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Speaker 1: Over here, Okay, I mean you are right, I am

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Speaker 1: likely going to win this one, because what on earth

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Speaker 1: has happened to crypto? Right, Adam? Over the last decade? Right,

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Speaker 1: it's been up and down like a fiddler's elbow.

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Speaker 2: Pointing out, pointing out melodrama. Here, Michael, when he's got nothing,

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Speaker 2: gains melodrama, Go on, fiddler over the last you know.

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Speaker 1: What, you know what. I don't need the melodrama. I

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Speaker 1: could do a Shorn style monotone for this if I

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Speaker 1: had to, and I would still win. The selloff over

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Speaker 1: the last week has been something else all together. In

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Speaker 1: just a few days, right, there was half a trillion

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Speaker 1: dollars wiped off cryptocurrencies, led by bitcoin. We all thought

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Speaker 1: that was bad, like, wow, this is shocking. It then

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Speaker 1: got worse, Bitcoin down below seventy thousand US dollars. Then

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Speaker 1: it got even worse after Treasury Secretary in the US

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Speaker 1: Scott Besson suggested that the government there would not bail

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Speaker 1: out the cryptocurrency, it kept going below sixty six thousand

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Speaker 1: US dollars, lowest since twenty twenty four. Wasn't crypto I'm

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Speaker 1: getting so excited. Wasn't crypto supposed to be the new

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Speaker 1: gold right, the new hedge against inflation. Instead, anyone who

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Speaker 1: bought in last year, for instance, in October, when bitcoin

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Speaker 1: hit a high of one hundred and twenty six thousand

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Speaker 1: US dollars, would be pulling their hair out. It's down

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Speaker 1: nearly fifty percent. So much for being a safe haven.

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Speaker 1: We've had plenty of turmoil, plenty of disruption, and crypto

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Speaker 1: crypto has been found wanting. It has not done what

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Speaker 1: it said it was going to do. Instead, it has plummeted,

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Speaker 1: and it is just extraordinary. And so much of that

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Speaker 1: happened this week. Oh so sorry. I get very excited

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Speaker 1: when I sense a victory. Sean, go for it.

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Speaker 2: Yeah, well, you know, Adam obviously is going to like

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Speaker 2: bitcoin crypto is right because he doesn't care about goal

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Speaker 2: the fact that it dropped eleven percent one session record highs,

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Speaker 2: dropped even further then came back. We're talking gyrating markets here.

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Speaker 2: This is what it's all about. Diuration, no effects, Super

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Speaker 2: Newman's pho own Northern Star reaches resources in human silver

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Speaker 2: price is down thirty percent one session. Oh whatever Adam's sake,

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Speaker 2: don't care. It's not bitcoin. Copper prices well, didn't they

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Speaker 2: bound help the HP and real The bouncing copper helped

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Speaker 2: the biggest Stralia the share price at a fifty two

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Speaker 2: week high. This year, price of oil has been pushing up.

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Speaker 2: Crude oil now fetching above sixty eight US dollars a barrel. Yeah,

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Speaker 2: we're gonna feel that at the petrol bows. But Adam

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Speaker 2: Hi dan keds krypto whatever. Coal companies, coal companies, well hello.

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Speaker 2: Figures came out this week that showed China opened a

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Speaker 2: record number of new coal fired power stations last year. Well,

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Speaker 2: coal back in fashion. We're talking about gyrations of markets.

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Speaker 2: We're talking about gold, silver, copper, oil, coal. But Adam,

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Speaker 2: it's not bitcoin. No, no, it's not up here over

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Speaker 2: to you.

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Speaker 1: Oh, you should lose a point for your excessive use

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Speaker 1: of the term gyrations.

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Speaker 2: O Michael. No one else in this studio thinks that

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Speaker 2: the word gyrations is funny, Adam Smooth, We maybe he

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Speaker 2: does litle bit.

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Speaker 1: Don't you think? Okay, and apologies to all the children

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Speaker 1: listening to this family show, but don't you think it

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Speaker 1: has vaguely erotic undertones?

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Speaker 2: If I was in such a strop, i'd be giggling

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Speaker 2: with you, right, But.

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Speaker 1: You are in a strop. This is I think I

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Speaker 1: figured out the Amy. Sorry, you give us your judgment, Adam,

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Speaker 1: and then I'll then I'll test.

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Speaker 3: Crypto sell off losers.

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Speaker 2: Gold would be nice to me to be sympathetic to me.

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Speaker 4: This is just strictly the criteria speaking here from I

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Speaker 4: guess the last ten years of gold and even as

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Speaker 4: you've put it out previously, Sean, in the last year

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Speaker 4: the value of gold.

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Speaker 3: It's incredible, absolutely.

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Speaker 4: Incredible, and that we happen to be wealthy with gold

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Speaker 4: here in Australia very very helpful. So yeah, Gold Girations

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Speaker 4: has to win.

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Speaker 2: Thank you. I'm leaving at that because when you're in

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Speaker 2: a bad mood and you're having dummy spirits and someone

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Speaker 2: does something it really undermines you.

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Speaker 1: Yeah.

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Speaker 2: Yeah, me about Amy?

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Speaker 1: Is it Amy Coney Barrett?

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Speaker 2: Oh, well done?

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Speaker 1: From the Supreme Court, Yes, wow.

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Speaker 2: Involved in some very dodgy decisions. I don't even know

390
00:21:16,000 --> 00:21:17,880
Speaker 2: that where whether she was ro A v. Wade now

391
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Speaker 2: that I think of it, she probably wasn't because she

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Speaker 2: came later than that and Antonio died everything mid twenty

393
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Speaker 2: sixteen or something like that. What I'm just saying is

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Speaker 2: the Supreme Court has had some really dumb decisions recently, Amy,

395
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Speaker 2: but we.

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Speaker 3: Found one that's dumber.

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Speaker 1: She just used the most obscure reference to sledge, Adam

398
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Speaker 1: and a sledge. That was a slow burn. That was

399
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Speaker 1: she started at three stories ago. That was well well played.

400
00:21:43,400 --> 00:21:47,720
Speaker 1: I did enjoy that story of the week, favorite story

401
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Speaker 1: of the week. What did you what did you like?

402
00:21:50,400 --> 00:21:50,600
Speaker 3: Sure?

403
00:21:50,680 --> 00:21:51,000
Speaker 2: Nothing?

404
00:21:52,640 --> 00:21:53,800
Speaker 1: Bs and I quit.

405
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Speaker 2: That's it, Adam old Man, take a look at my life.

406
00:22:00,000 --> 00:22:00,720
Speaker 2: I'm a lot like you.

407
00:22:00,800 --> 00:22:02,480
Speaker 3: Gorgeous yep yeah.

408
00:22:02,640 --> 00:22:10,119
Speaker 2: Yeah yeah, Harvestman. Don't we love it? Hey? HEYMMI?

409
00:22:10,680 --> 00:22:10,840
Speaker 3: Yes?

410
00:22:11,160 --> 00:22:15,879
Speaker 2: What's got? What's in common here? The Great Nearly Young, well,

411
00:22:16,160 --> 00:22:18,960
Speaker 2: nearly Young a political activist from way back. He's giving

412
00:22:19,000 --> 00:22:22,840
Speaker 2: greenland as a year's free access to he archives, to

413
00:22:22,960 --> 00:22:26,080
Speaker 2: his archives and what he hapes will ease some of

414
00:22:26,119 --> 00:22:31,080
Speaker 2: the unwarranted stress and threats they're receiving from the Trump administration.

415
00:22:31,920 --> 00:22:36,240
Speaker 2: He has called the Trump administration unpopular and hopefully temporary.

416
00:22:37,240 --> 00:22:40,160
Speaker 2: Nearly Young a true activist. Am I right? And saying

417
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Speaker 2: he refused to go on one of the big streaming

418
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Speaker 2: platforms initially, Yeah, I think it was Spotify because he

419
00:22:46,240 --> 00:22:50,199
Speaker 2: didn't believe in that the artists were getting recognition or

420
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Speaker 2: payment for it. He's been angry at Amazon and Jeff

421
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Speaker 2: Bezos and we didn't even get the Washington Post going

422
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Speaker 2: and what's going on there this week. But that's remarkable.

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Speaker 2: I should have put that one in. Yeh, Neil Young,

424
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Speaker 2: what a good man actually giving Greenlanders. If the Greenlanders

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Speaker 2: don't like Neil Young, well bad luck. But if you're

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Speaker 2: a Greenlander and you don't like Neil Young, take a good, hard,

427
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Speaker 2: long look at yourself, because you should one of the

428
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Speaker 2: truly great artists. Favorite story Neil Young doing his bit

429
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Speaker 2: for the Greenlanders.

430
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Speaker 1: I just love that potentially maybe going to get occupied,

431
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Speaker 1: might lose their house. It's okay though, I'm just gonna

432
00:23:26,760 --> 00:23:35,359
Speaker 1: go inside and suddenly everything's okay again. My favorite story,

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Speaker 1: very short and sweet, because brevity has been key for

434
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Speaker 1: me this week, Adam, though you might not have known

435
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Speaker 1: because it was brevity in disguise as very long entries.

436
00:23:45,760 --> 00:23:49,560
Speaker 1: But the business of sport this week. The week started

437
00:23:49,600 --> 00:23:54,920
Speaker 1: and technically, technically, for just to clarify for the Saturday edition,

438
00:23:55,000 --> 00:24:00,440
Speaker 1: a week goes from Sunday through to Saturday. Well yes, yeah,

439
00:24:00,800 --> 00:24:06,000
Speaker 1: yeah yeah, because tomorrow is Sunday. Therefore, anything that happens

440
00:24:06,000 --> 00:24:09,000
Speaker 1: tomorrow will be next week.

441
00:24:10,000 --> 00:24:10,680
Speaker 3: Point of order.

442
00:24:11,520 --> 00:24:13,680
Speaker 2: Point of order, right, this is always the weekend edition

443
00:24:13,760 --> 00:24:16,120
Speaker 2: until this year, yep, and so that was very much

444
00:24:16,160 --> 00:24:16,959
Speaker 2: Monday to Sunday.

445
00:24:17,080 --> 00:24:20,520
Speaker 1: Well, no, it's it's always been this. It's technically always

446
00:24:20,560 --> 00:24:23,640
Speaker 1: been the same because I mean, obviously this episode comes

447
00:24:23,640 --> 00:24:25,480
Speaker 1: out on a Saturday morning. We can't tell what's going

448
00:24:25,560 --> 00:24:27,960
Speaker 1: to happen on Sunday. Therefore the previous Sunday is counting

449
00:24:28,000 --> 00:24:28,280
Speaker 1: the same.

450
00:24:28,280 --> 00:24:30,640
Speaker 2: Anyway, long story should do protest too much?

451
00:24:30,760 --> 00:24:33,920
Speaker 1: Well, no, I'm just trying to avoid the protests because

452
00:24:33,960 --> 00:24:39,199
Speaker 1: you're you're very quick to protest. This week started with

453
00:24:39,320 --> 00:24:42,560
Speaker 1: the end of the Australian Open on the Sunday, So

454
00:24:42,640 --> 00:24:46,680
Speaker 1: therefore it was important for me to clarify that claiming it. Yeah, absolutely,

455
00:24:46,720 --> 00:24:50,399
Speaker 1: and I should And it's entirely fair that the men's

456
00:24:50,440 --> 00:24:54,800
Speaker 1: final between ol chorazm Djokovic was extraordinary. Did you see

457
00:24:54,800 --> 00:24:57,520
Speaker 1: his speech? You see Jokovic's speech at the end was

458
00:24:57,560 --> 00:24:59,800
Speaker 1: just I think one of the all time great kind

459
00:24:59,800 --> 00:25:03,360
Speaker 1: of gracious speeches, like even kind of stopping himself from

460
00:25:03,359 --> 00:25:06,399
Speaker 1: making too many jokes or talking about potentially his future

461
00:25:06,440 --> 00:25:09,560
Speaker 1: because he said, this is this is Alcorazi's moment.

462
00:25:09,920 --> 00:25:12,600
Speaker 2: Did he cry though, did he cry Fedri style, No.

463
00:25:12,920 --> 00:25:16,000
Speaker 1: Yeah, no, it's a good point actually, but I mean

464
00:25:16,640 --> 00:25:19,600
Speaker 1: it came close and he made a nice liment, nice

465
00:25:19,640 --> 00:25:22,240
Speaker 1: little acknowledgment of Nadal in the audience. It was it

466
00:25:22,280 --> 00:25:26,200
Speaker 1: was just lovely, just lovely. But economic impact, right, this event,

467
00:25:26,480 --> 00:25:28,959
Speaker 1: the whole event which to me defines summer.

468
00:25:29,200 --> 00:25:32,600
Speaker 2: Right, is this this economic impact this week? Go on?

469
00:25:32,720 --> 00:25:36,320
Speaker 1: Yes, yeah, they saw it happen on Monday, brought in

470
00:25:36,480 --> 00:25:40,879
Speaker 1: a record six hundred million dollars was the expected amount

471
00:25:40,960 --> 00:25:44,159
Speaker 1: to the Victorian economy. Six hundred million dollars. That is

472
00:25:44,160 --> 00:25:47,360
Speaker 1: an impressive economic impact, doesn't Adam? It is enormous. And

473
00:25:47,440 --> 00:25:50,840
Speaker 1: then and then we start the week right with the

474
00:25:50,920 --> 00:25:53,560
Speaker 1: end of the Australian Open and we finished the week

475
00:25:53,680 --> 00:25:56,320
Speaker 1: with the start of the Winter Olympics in Italy. If

476
00:25:56,359 --> 00:26:00,960
Speaker 1: you want more economic impact, Adam, five point three billion

477
00:26:01,200 --> 00:26:05,600
Speaker 1: euros for the Italian economy. That's what's suspected to be generated.

478
00:26:05,800 --> 00:26:09,280
Speaker 1: Australia's largest ever team is there. And the best part, right,

479
00:26:09,359 --> 00:26:12,800
Speaker 1: the best part of this, because this is a this

480
00:26:12,920 --> 00:26:15,679
Speaker 1: is a business podcast, the best part is that the

481
00:26:15,720 --> 00:26:18,960
Speaker 1: Australian team can do all the duty free shopping they

482
00:26:19,000 --> 00:26:21,440
Speaker 1: want in this little town of I think it's Lavigno.

483
00:26:21,520 --> 00:26:24,840
Speaker 1: I forgot to write it down. But this tiny little

484
00:26:24,920 --> 00:26:29,199
Speaker 1: town free, tax free, tax free, duty free shopping.

485
00:26:29,200 --> 00:26:29,600
Speaker 3: They want.

486
00:26:29,640 --> 00:26:34,000
Speaker 1: Tax free towns had special tax status since the sixteen hundreds,

487
00:26:34,480 --> 00:26:38,160
Speaker 1: and now our Australian Olympians can benefit. And I think

488
00:26:38,200 --> 00:26:42,200
Speaker 1: that is that's the true spirit of the Olympics. Maybe

489
00:26:42,520 --> 00:26:45,080
Speaker 1: I suspect it's probably something to do with competition tags,

490
00:26:45,280 --> 00:26:49,160
Speaker 1: people coming together, but tax exempt, that's also part of it.

491
00:26:49,600 --> 00:26:52,520
Speaker 2: But Adam doesn't care about it. Capital gains, tax reform,

492
00:26:52,600 --> 00:26:54,920
Speaker 2: biggest thing that can happen Australian twenty five years. Don't care.

493
00:26:55,000 --> 00:26:57,600
Speaker 1: Adam doesn't give two hoots about tax That's what we're

494
00:26:57,640 --> 00:26:58,200
Speaker 1: saying here.

495
00:26:59,119 --> 00:27:01,359
Speaker 2: That is, or there's what we will say for the

496
00:27:01,359 --> 00:27:04,320
Speaker 2: rest of the year. It's quite beautiful, Adam.

497
00:27:04,600 --> 00:27:10,320
Speaker 3: That takes for reform. Okay, yeah, you with Michael at

498
00:27:10,320 --> 00:27:13,840
Speaker 3: a risk of causing the ire of Sean.

499
00:27:15,040 --> 00:27:17,960
Speaker 2: Adding to it.

500
00:27:16,960 --> 00:27:17,760
Speaker 1: It's already here.

501
00:27:20,480 --> 00:27:24,119
Speaker 4: I love the Neil Young story in Greenland and not

502
00:27:24,160 --> 00:27:28,320
Speaker 4: that much in between. You know that Mark Carney in

503
00:27:28,480 --> 00:27:32,640
Speaker 4: Canada and just how powerful his words have been around

504
00:27:32,680 --> 00:27:34,600
Speaker 4: the world and what's been going on.

505
00:27:35,280 --> 00:27:37,560
Speaker 2: You know, Mark Carney is not Prime Minister of Greenland

506
00:27:37,560 --> 00:27:39,440
Speaker 2: Adam at the moment.

507
00:27:40,720 --> 00:27:43,359
Speaker 4: But it's it's so topical in that part of the

508
00:27:43,400 --> 00:27:47,120
Speaker 4: world and world leading. So yeah, god on your Neil Young.

509
00:27:47,160 --> 00:27:48,920
Speaker 4: But in terms of the business of sport, loved the

510
00:27:48,960 --> 00:27:53,119
Speaker 4: Australian Open thought it was incredible, great coverage too in

511
00:27:53,160 --> 00:27:56,320
Speaker 4: the Winter Olympics. Wonderful and hopefully one of our biggest

512
00:27:56,359 --> 00:27:59,879
Speaker 4: ever teams will have great success in the Winter Olympics.

513
00:28:00,080 --> 00:28:03,399
Speaker 1: Yeah, got a good feeling about this one. What's your

514
00:28:03,440 --> 00:28:06,399
Speaker 1: favorite sport to watch at the Winter Olympics.

515
00:28:06,720 --> 00:28:10,000
Speaker 2: Oh, because it's got to be the downhill. I mean

516
00:28:10,080 --> 00:28:14,879
Speaker 2: you just hanging from the fall the winter in the

517
00:28:14,880 --> 00:28:18,680
Speaker 2: Summer Olympics, right, it's the Winter Olympics. Is so much

518
00:28:18,720 --> 00:28:19,719
Speaker 2: of it is about danger.

519
00:28:20,000 --> 00:28:23,679
Speaker 5: Yes, anythink bob sleds, you think of the guppling, you

520
00:28:23,720 --> 00:28:32,879
Speaker 5: think the curling, the downhill, you know the ski jums,

521
00:28:32,920 --> 00:28:34,800
Speaker 5: Like there's serious danger in that.

522
00:28:35,359 --> 00:28:38,320
Speaker 2: In the summer sports, like what's you do a hamstring?

523
00:28:38,360 --> 00:28:41,200
Speaker 2: That's about the worst you could happen these winter sports.

524
00:28:41,560 --> 00:28:46,640
Speaker 1: Feeding, the aerials, javelin to the mid section. If you're

525
00:28:46,680 --> 00:28:50,760
Speaker 1: a judge, if you're Adam out there judging.

526
00:28:51,920 --> 00:28:58,200
Speaker 2: With the spreadsheet, right, Adam hit so three one Michael wins.

527
00:28:58,720 --> 00:29:01,200
Speaker 2: I would say that's three for Michael, you know, not

528
00:29:01,240 --> 00:29:02,880
Speaker 2: that I want one point about it, but he's won

529
00:29:02,960 --> 00:29:04,959
Speaker 2: three weeks in a row. For all those people complaining

530
00:29:05,000 --> 00:29:08,680
Speaker 2: that Michael never wins three weeks in a row, I'm

531
00:29:09,120 --> 00:29:13,959
Speaker 2: zero from three so far. This year was a precedented.

532
00:29:14,680 --> 00:29:18,680
Speaker 4: Sean eighty four points, Michael eighty seven points.

533
00:29:19,000 --> 00:29:23,200
Speaker 1: That's some both lower and closer than I would expected.

534
00:29:23,560 --> 00:29:25,880
Speaker 4: Yeah, it was a titanic.

535
00:29:25,440 --> 00:29:28,560
Speaker 2: Just out of interest? What did you give Michael's the

536
00:29:28,560 --> 00:29:30,920
Speaker 2: interest rates versus kapital gains SAX reform.

537
00:29:31,160 --> 00:29:35,320
Speaker 4: Twenty two for interest rates, twenty for reform. I thought

538
00:29:35,320 --> 00:29:38,480
Speaker 4: i'd be more savage this week. It didn't quite come

539
00:29:38,520 --> 00:29:39,480
Speaker 4: out that way.

540
00:29:39,520 --> 00:29:43,720
Speaker 1: Clearly cheaper, okay, and just and the one that Sean won,

541
00:29:43,920 --> 00:29:48,479
Speaker 1: which was the the mold Gyrations, Yeah, that was it,

542
00:29:48,480 --> 00:29:52,280
Speaker 1: the gold Gyrations. What was the score the difference there.

543
00:29:52,160 --> 00:29:55,880
Speaker 3: Twenty two to twenty almost like in reverse?

544
00:29:56,080 --> 00:29:58,640
Speaker 1: Yeah, yeah, okay, all right, Well I.

545
00:29:58,640 --> 00:30:02,160
Speaker 4: Like its has been amazed. I mean they're all good stories. Yeah,

546
00:30:02,440 --> 00:30:03,400
Speaker 4: really tough choice.

547
00:30:03,480 --> 00:30:07,320
Speaker 1: God, this needs bad judging. Did you just say bad judging?

548
00:30:08,120 --> 00:30:09,520
Speaker 2: Great story is bad judging?

549
00:30:09,680 --> 00:30:12,400
Speaker 1: Come on, Amy, please to finish cry.

550
00:30:14,360 --> 00:30:18,160
Speaker 4: Thank you, thank you, Adam, than Michael, thank you sure.

551
00:30:18,240 --> 00:30:21,520
Speaker 1: Thank you Adam, Thank you Sean for the first fun

552
00:30:21,680 --> 00:30:24,440
Speaker 1: the first official dummy spit of twenty twenty six, and

553
00:30:24,720 --> 00:30:26,560
Speaker 1: Gollia was a good one.

554
00:30:28,240 --> 00:30:30,120
Speaker 3: Let's see what the nest of the year brings.

555
00:30:30,480 --> 00:30:32,520
Speaker 1: We can always do better. Make sure you're following the

556
00:30:32,520 --> 00:30:34,800
Speaker 1: podcast and head to Fear and Greed dot congregate you

557
00:30:34,880 --> 00:30:37,719
Speaker 1: to sign up for our free daily newsletter. I'm Michael Thompson.

558
00:30:37,720 --> 00:30:39,560
Speaker 1: That was Fear and Greed for a great weekend.