1 00:00:06,280 --> 00:00:08,760 Speaker 1: This is the weekend edition of Fear and Greed business 2 00:00:08,800 --> 00:00:11,600 Speaker 1: news you can use. I'm Michael Thompson and good morning 3 00:00:11,760 --> 00:00:15,159 Speaker 1: Natalie McDonald. Good morning now, Natalie. Our weekend show is 4 00:00:15,160 --> 00:00:16,720 Speaker 1: all about the two of us, each nominating what we 5 00:00:16,760 --> 00:00:18,919 Speaker 1: think is the biggest business story of the week, the 6 00:00:19,000 --> 00:00:23,240 Speaker 1: most remarkable business story, a mystery category that changes every week, 7 00:00:23,560 --> 00:00:26,920 Speaker 1: and then our favorite story. It is a competition. It 8 00:00:27,000 --> 00:00:31,720 Speaker 1: is a fiercely fierce competition. This is not going to 9 00:00:31,760 --> 00:00:33,840 Speaker 1: be a good day if I'm already struggling two lines 10 00:00:33,880 --> 00:00:36,639 Speaker 1: in and we are joined by a judge to pick 11 00:00:36,680 --> 00:00:39,120 Speaker 1: a winner in this fierce competition. And that judge is 12 00:00:39,159 --> 00:00:41,880 Speaker 1: our Fear and Greed colleague, Adam Lang. Are you feeling 13 00:00:41,920 --> 00:00:42,480 Speaker 1: fierce today? 14 00:00:42,520 --> 00:00:45,479 Speaker 2: Adam, No, but I'm feeling like in a very balanced 15 00:00:45,520 --> 00:00:46,120 Speaker 2: judge mood. 16 00:00:47,080 --> 00:00:50,519 Speaker 1: It's really kind of lowering the expectations there. So Natalie, 17 00:00:50,520 --> 00:00:52,839 Speaker 1: this is your last weekend edition with us for a 18 00:00:52,840 --> 00:00:56,800 Speaker 1: little while, as Sean is back next week. And so far, 19 00:00:57,080 --> 00:01:00,959 Speaker 1: this is our third that we have done. You won one, 20 00:01:01,520 --> 00:01:03,520 Speaker 1: I did. I won the first, then we had a 21 00:01:03,520 --> 00:01:05,679 Speaker 1: tie last week, and then we agreed that this week 22 00:01:05,760 --> 00:01:07,279 Speaker 1: was going to be double or nothing, so. 23 00:01:07,800 --> 00:01:11,280 Speaker 3: We agreed, no such thing. Did you talk about this 24 00:01:11,360 --> 00:01:12,080 Speaker 3: when I wasn't here? 25 00:01:12,280 --> 00:01:14,319 Speaker 1: No, it was last week in the in the in 26 00:01:14,360 --> 00:01:16,240 Speaker 1: the in the podcast, it was there was. 27 00:01:16,160 --> 00:01:18,840 Speaker 3: No double or nothing. I've actually realized you have to 28 00:01:18,880 --> 00:01:19,240 Speaker 3: win this. 29 00:01:19,480 --> 00:01:21,440 Speaker 1: The pressure is on, Adam. What are you looking for? 30 00:01:21,480 --> 00:01:24,840 Speaker 1: I'm assuming economic importance, melodrama. 31 00:01:26,600 --> 00:01:27,959 Speaker 4: Topicality, and timeliness. 32 00:01:27,959 --> 00:01:30,960 Speaker 2: Of course, economic impact is the biggest, one little bit 33 00:01:31,000 --> 00:01:31,920 Speaker 2: of subjective bias. 34 00:01:32,160 --> 00:01:34,039 Speaker 4: I like that and Meloandie. 35 00:01:33,680 --> 00:01:35,920 Speaker 3: Is the subjective bias that you want me to win? 36 00:01:36,600 --> 00:01:39,000 Speaker 2: No, no, no, no, I want the audience to win. 37 00:01:42,520 --> 00:01:43,320 Speaker 3: They're the winners. 38 00:01:43,319 --> 00:01:43,600 Speaker 4: In all. 39 00:01:45,640 --> 00:01:46,840 Speaker 3: We're on your side. 40 00:01:47,160 --> 00:01:49,120 Speaker 1: I'm not. I'm on my own side here. I thought 41 00:01:49,120 --> 00:01:52,440 Speaker 1: I made that abundantly clear. I'm here to win and 42 00:01:52,640 --> 00:01:56,560 Speaker 1: only for that. Forget the rest of you, Natalie. Biggest 43 00:01:56,560 --> 00:01:57,840 Speaker 1: story of the week, what was it? 44 00:01:58,000 --> 00:02:02,360 Speaker 3: GDP and it grew point six percent in the Dune 45 00:02:02,440 --> 00:02:05,080 Speaker 3: quarter and one point eight percent over the year. This 46 00:02:05,280 --> 00:02:09,919 Speaker 3: has been fueled by households splashing out on travel, dining, 47 00:02:10,000 --> 00:02:12,840 Speaker 3: and some of those big ticket buys. Consumption jumped point 48 00:02:12,919 --> 00:02:15,320 Speaker 3: nine percent. That was helped by things like end of 49 00:02:15,360 --> 00:02:19,080 Speaker 3: financial year sales, Eastern Lansac day landing so close together, 50 00:02:19,200 --> 00:02:21,440 Speaker 3: and even the launch of the new Nintendo Switch, and 51 00:02:21,480 --> 00:02:24,720 Speaker 3: actually a moment for the Nintendo Switch, which has been 52 00:02:24,760 --> 00:02:27,480 Speaker 3: somewhat of the Golden goose, contributing to a five hundred 53 00:02:27,600 --> 00:02:30,280 Speaker 3: million dollar sales search for JB Hi Fi and also 54 00:02:30,400 --> 00:02:33,520 Speaker 3: something that the ABS had previously referenced in consumer spending. 55 00:02:33,720 --> 00:02:36,120 Speaker 3: The Nintendo Switch is entirely lost on me as a 56 00:02:36,160 --> 00:02:38,520 Speaker 3: non gamer, but I appreciate it for those of you 57 00:02:38,560 --> 00:02:42,720 Speaker 3: out there who maybe but ossies aren't spending with spare cash, 58 00:02:42,720 --> 00:02:46,600 Speaker 3: they're actually raiding savings. The household saving ratio fell from 59 00:02:46,720 --> 00:02:48,920 Speaker 3: five point two to four point two percent, and your 60 00:02:48,960 --> 00:02:51,880 Speaker 3: growth is now at the strongest in almost two years. 61 00:02:51,919 --> 00:02:54,639 Speaker 3: And that spending boom it's showing up in retail as well. 62 00:02:54,680 --> 00:02:58,079 Speaker 3: We had ABS figures revealing that July retail sales hit 63 00:02:58,120 --> 00:03:00,880 Speaker 3: thirty seven point seven billion dollars, up four point six 64 00:03:00,960 --> 00:03:04,720 Speaker 3: percent on last year. Cafes, restaurants, takeaways led the charge 65 00:03:04,800 --> 00:03:08,519 Speaker 3: up nearly seven percent, whilst household goods, fashion, food all 66 00:03:08,600 --> 00:03:11,680 Speaker 3: climbed as well. Now this is great for retailers, great 67 00:03:11,680 --> 00:03:13,680 Speaker 3: if you're a bit of a chopoholic too, but it 68 00:03:13,760 --> 00:03:16,720 Speaker 3: does parle pressure on the reserve bank hopes of a 69 00:03:16,720 --> 00:03:20,120 Speaker 3: September rate cup, they're gone andless are tipping November at 70 00:03:20,160 --> 00:03:23,280 Speaker 3: the earliest. Now for borrow is it's less switch on 71 00:03:23,440 --> 00:03:25,600 Speaker 3: saving and more a switch back to saving. 72 00:03:26,160 --> 00:03:28,680 Speaker 1: It is really I mean that's it is a big story. 73 00:03:29,040 --> 00:03:31,480 Speaker 1: It's actually a good news story, isn't it, because the 74 00:03:31,520 --> 00:03:34,560 Speaker 1: economy is growing, and in particular, the good news is 75 00:03:34,600 --> 00:03:38,200 Speaker 1: in that in those the retail sales, the spending, the 76 00:03:38,280 --> 00:03:41,640 Speaker 1: household spending figures the fact that this is not just 77 00:03:42,400 --> 00:03:46,320 Speaker 1: the essentials. People aren't just spending on power bills and 78 00:03:46,360 --> 00:03:48,120 Speaker 1: groceries now feeling more. 79 00:03:47,960 --> 00:03:50,360 Speaker 3: Confident to be doing a little, a bit of buying, 80 00:03:50,520 --> 00:03:51,119 Speaker 3: a bit of a treat. 81 00:03:51,560 --> 00:03:55,600 Speaker 1: Discretionary spending is up, which is absolutely key. It is 82 00:03:55,600 --> 00:03:58,120 Speaker 1: also not the biggest story of the week. It is 83 00:03:58,160 --> 00:03:59,800 Speaker 1: a big story. It is a good news story, but 84 00:03:59,880 --> 00:04:02,560 Speaker 1: is not the biggest. The biggest is politics. It is 85 00:04:02,640 --> 00:04:04,640 Speaker 1: everything that's been happening at politics. And if I was 86 00:04:04,680 --> 00:04:09,040 Speaker 1: just to select one story or maybe two stories, I'll 87 00:04:09,080 --> 00:04:11,320 Speaker 1: squeeze in there. But Natalie squeezed a couple of stories 88 00:04:11,320 --> 00:04:15,040 Speaker 1: into one. So omnibus stories are okay this week apparently. 89 00:04:16,720 --> 00:04:17,080 Speaker 4: Okay. 90 00:04:17,600 --> 00:04:20,719 Speaker 1: Adam is shaking his head furiously at me. The judge 91 00:04:20,720 --> 00:04:22,919 Speaker 1: has decided it must be one story. Well in that case, 92 00:04:23,480 --> 00:04:28,320 Speaker 1: a common theme of the government trying to resolve a crisis. 93 00:04:29,160 --> 00:04:34,080 Speaker 1: The first is immigration. Right last weekend we saw rallies 94 00:04:34,160 --> 00:04:37,520 Speaker 1: anti immigration rallies taking place in capital cities and regional 95 00:04:37,560 --> 00:04:40,640 Speaker 1: areas across the country. A lot of pressure on the 96 00:04:40,640 --> 00:04:45,400 Speaker 1: government to say pause intakes. Instead, they came out through 97 00:04:45,400 --> 00:04:48,640 Speaker 1: the week and confirmed the migration number four this week 98 00:04:48,880 --> 00:04:52,120 Speaker 1: for this year, one hundred and eighty five thousand permanent visas. 99 00:04:52,120 --> 00:04:56,080 Speaker 1: The priority here is skills because we still have a 100 00:04:56,200 --> 00:04:59,800 Speaker 1: skills shortage. We have a tight labor market. We need 101 00:05:00,080 --> 00:05:03,800 Speaker 1: workers coming from overseas with the skills to do the 102 00:05:03,880 --> 00:05:06,560 Speaker 1: jobs that we need. We need houses that we haven't 103 00:05:06,560 --> 00:05:10,920 Speaker 1: got a tradey shortage. There are so many gaps here 104 00:05:10,960 --> 00:05:13,839 Speaker 1: and we need people coming in to keep the economy 105 00:05:13,839 --> 00:05:18,760 Speaker 1: moving all right. There is a political element to this 106 00:05:19,000 --> 00:05:23,320 Speaker 1: as well, obviously a massive political element, because as the 107 00:05:23,360 --> 00:05:27,920 Speaker 1: migration number is still reasonably high and it does put 108 00:05:27,920 --> 00:05:31,600 Speaker 1: pressure on infrastructure, it does put pressure on the housing market, 109 00:05:31,680 --> 00:05:33,560 Speaker 1: and that's what a lot of these protests were about 110 00:05:33,800 --> 00:05:37,599 Speaker 1: last weekend. The Prime Minister Anthony Albernizi was careful not 111 00:05:37,680 --> 00:05:41,159 Speaker 1: to dismiss those concerns this week, and he was telling 112 00:05:41,200 --> 00:05:45,320 Speaker 1: Caucus not to demonize everyone involved in the rallies because 113 00:05:45,320 --> 00:05:47,479 Speaker 1: not everybody there was a neo Nazi, and the fact 114 00:05:47,480 --> 00:05:50,000 Speaker 1: that we even need to make that distinction is just extraordinary. 115 00:05:50,000 --> 00:05:54,719 Speaker 1: The fact that we have these extremist groups basically using 116 00:05:55,200 --> 00:06:00,160 Speaker 1: these rallies and these protests to make racist points, it's 117 00:06:00,160 --> 00:06:03,160 Speaker 1: just disgraceful, right, And I thought it was an interesting 118 00:06:03,200 --> 00:06:07,360 Speaker 1: approach that the Prime Minister took of talking to his colleagues, saying, 119 00:06:07,920 --> 00:06:09,919 Speaker 1: we actually need to be careful here. We need to 120 00:06:09,960 --> 00:06:14,800 Speaker 1: engage with the concerns that are being represented by people here, 121 00:06:15,160 --> 00:06:17,760 Speaker 1: and not just assume that everyone involved in this is 122 00:06:18,240 --> 00:06:22,400 Speaker 1: a far right looney essentially, because otherwise you'll just end 123 00:06:22,480 --> 00:06:25,320 Speaker 1: up pushing everyone to that extreme and then you end 124 00:06:25,400 --> 00:06:27,640 Speaker 1: up with an even bigger problem. Anyway, I kind of 125 00:06:27,680 --> 00:06:29,479 Speaker 1: just went way off on a tangent there just to 126 00:06:29,520 --> 00:06:32,200 Speaker 1: express some views A quick mention as well, if I may, 127 00:06:32,320 --> 00:06:34,160 Speaker 1: because this is in the common theme of the government 128 00:06:34,200 --> 00:06:37,440 Speaker 1: resolving a crisis. The four hundred and seventy five million 129 00:06:37,480 --> 00:06:43,000 Speaker 1: dollar settlement of the robodebt case, Australia's largest ever class 130 00:06:43,040 --> 00:06:45,520 Speaker 1: action settlement, adding to the one point eight billion dollars 131 00:06:45,560 --> 00:06:47,760 Speaker 1: the victims won in twenty twenty robo debt obviously the 132 00:06:47,800 --> 00:06:52,880 Speaker 1: automated debt recovery system that hounded welfare recipients for money 133 00:06:52,880 --> 00:06:58,720 Speaker 1: that they didn't actually ow. Finally, hopefully this entirely awful 134 00:06:58,839 --> 00:07:02,000 Speaker 1: saga can now be put to bed with this resolution 135 00:07:02,240 --> 00:07:08,440 Speaker 1: this week. So two crises hopefully resolved by the government 136 00:07:08,920 --> 00:07:12,760 Speaker 1: this week. Adam, you're laughing because you are noting that 137 00:07:12,840 --> 00:07:15,480 Speaker 1: I have attempted to join two stories together that are 138 00:07:15,480 --> 00:07:16,640 Speaker 1: not linked in any way. 139 00:07:18,040 --> 00:07:21,520 Speaker 2: A verbal shoehorn of two stories into one category. 140 00:07:21,240 --> 00:07:22,920 Speaker 4: But still very very good stories. 141 00:07:23,760 --> 00:07:26,720 Speaker 2: The GDP figure look one point eight percent for the 142 00:07:26,800 --> 00:07:28,760 Speaker 2: year point six of the quarter, as you said, Natalie, 143 00:07:29,120 --> 00:07:32,600 Speaker 2: CPI inflations at two point one So that's. 144 00:07:32,400 --> 00:07:34,280 Speaker 4: Still real decline. Right. 145 00:07:34,320 --> 00:07:36,960 Speaker 2: We are still not productive enough and we're not growing 146 00:07:37,040 --> 00:07:39,680 Speaker 2: nearly enough, and so I don't want to forget the 147 00:07:39,680 --> 00:07:42,680 Speaker 2: productivity crisis that this country is going through. It's a 148 00:07:42,800 --> 00:07:46,560 Speaker 2: very very important figure. The anti immigration rally, I'm going 149 00:07:46,600 --> 00:07:52,559 Speaker 2: to focus on that. Skills shortage, housing shortage. There should 150 00:07:52,600 --> 00:07:54,640 Speaker 2: be some more accountability in what the government is doing 151 00:07:54,680 --> 00:07:57,720 Speaker 2: to fix both of those things. Actually, we need more 152 00:07:57,760 --> 00:08:00,560 Speaker 2: immigration here yep. And we do need those skills, and 153 00:08:00,600 --> 00:08:03,680 Speaker 2: we need more housing so that they can live here happily. 154 00:08:04,360 --> 00:08:06,800 Speaker 2: So that's a resolvable crisis, but we still haven't had 155 00:08:06,800 --> 00:08:09,680 Speaker 2: the courage across all three layers of government to do it. 156 00:08:10,240 --> 00:08:14,800 Speaker 2: So for that reason, and this fermenting of ill will 157 00:08:14,960 --> 00:08:19,920 Speaker 2: like blaming someone or immigration for this. It's not immigration's fault, right, 158 00:08:20,320 --> 00:08:22,640 Speaker 2: So I think, Michael, you just have to win this 159 00:08:22,720 --> 00:08:24,320 Speaker 2: one for Story of the week. 160 00:08:26,360 --> 00:08:27,800 Speaker 1: That's a great decision, Adam. 161 00:08:27,960 --> 00:08:29,240 Speaker 3: You weren't expecting that way, well, I. 162 00:08:29,240 --> 00:08:31,360 Speaker 1: Don't think I was. In fact, I even said to 163 00:08:31,400 --> 00:08:34,440 Speaker 1: you before we sell, I said, if you're going to 164 00:08:34,480 --> 00:08:36,440 Speaker 1: do the economy is the biggest story of the week, 165 00:08:36,800 --> 00:08:38,040 Speaker 1: Adam's going to pick that one. 166 00:08:38,360 --> 00:08:40,760 Speaker 3: But genuinely, I know we've spoken about this a lot. 167 00:08:41,280 --> 00:08:45,480 Speaker 3: I'm with you. I think that the story around immigration 168 00:08:45,520 --> 00:08:47,920 Speaker 3: and migration in general is really really interesting. I think 169 00:08:47,960 --> 00:08:53,440 Speaker 3: people are allowed to feel dissatisfied with their personal finance situation, 170 00:08:53,679 --> 00:08:56,720 Speaker 3: with housing accessibility. They are allowed to feel like they're 171 00:08:56,760 --> 00:08:59,719 Speaker 3: doing things tough because a lot of people are. But 172 00:09:00,120 --> 00:09:04,400 Speaker 3: what they can't do is them blame immigration because do 173 00:09:04,440 --> 00:09:05,920 Speaker 3: you know the number of people that have come to 174 00:09:06,200 --> 00:09:08,600 Speaker 3: me and said that I am stealing. 175 00:09:09,360 --> 00:09:11,160 Speaker 4: Many generations are going I'm. 176 00:09:11,000 --> 00:09:15,319 Speaker 3: Stealing or I'm stealing people's jobs. Yeah, not one. Not one. 177 00:09:15,440 --> 00:09:19,160 Speaker 3: And so this is layered with a larger conversation about 178 00:09:19,240 --> 00:09:22,600 Speaker 3: who we do and don't consider to be migrants within 179 00:09:22,720 --> 00:09:24,959 Speaker 3: Australia and who we do and don't consider to be 180 00:09:25,240 --> 00:09:28,080 Speaker 3: allowed access to having a fair go when often a 181 00:09:28,080 --> 00:09:31,000 Speaker 3: lot of the countries that we are targeting sort of 182 00:09:31,400 --> 00:09:34,280 Speaker 3: entrants from they are coming here with skills, but the 183 00:09:35,480 --> 00:09:38,439 Speaker 3: system is so complex for them to go into teaching 184 00:09:38,559 --> 00:09:40,960 Speaker 3: or technology or a lot of other things that they're 185 00:09:41,000 --> 00:09:43,480 Speaker 3: not being given those career parts and that access to 186 00:09:43,559 --> 00:09:46,480 Speaker 3: economic opportunity. And that is my soapbox. 187 00:09:46,880 --> 00:09:48,120 Speaker 1: I think that's a good point. Do you think that 188 00:09:48,200 --> 00:09:51,480 Speaker 1: we're capable of having that conversation without it being hijacked 189 00:09:51,480 --> 00:09:53,000 Speaker 1: by racist neo Nazis. 190 00:09:53,000 --> 00:09:55,920 Speaker 2: Of course I think so too, and I just stand 191 00:09:56,000 --> 00:09:56,400 Speaker 2: right in it. 192 00:09:56,600 --> 00:09:58,280 Speaker 3: But then it comes back to the point that Anthony 193 00:09:58,320 --> 00:10:01,080 Speaker 3: Alberanezi has been making about how we cannot continue to 194 00:10:01,160 --> 00:10:04,280 Speaker 3: push those individuals. If you continue to disenfranchise them, if 195 00:10:04,320 --> 00:10:07,800 Speaker 3: you as governments continue to fail to stand up for 196 00:10:07,880 --> 00:10:11,040 Speaker 3: what they need, then yeah, you are going to be 197 00:10:11,040 --> 00:10:13,679 Speaker 3: pushing people on a path that is further more to 198 00:10:14,280 --> 00:10:17,120 Speaker 3: the right than they ever would have anticipated. 199 00:10:18,920 --> 00:10:22,959 Speaker 1: Okay, we are. We got very deep there, very serious. 200 00:10:23,080 --> 00:10:24,280 Speaker 3: That got really heavy. 201 00:10:24,440 --> 00:10:26,920 Speaker 1: But let's not one nill, Let's not lose sight of 202 00:10:26,920 --> 00:10:29,440 Speaker 1: the bigger picture here is that I just won that 203 00:10:30,040 --> 00:10:35,480 Speaker 1: and it was a strong, powerful, resounding victory. Most remarkable 204 00:10:36,320 --> 00:10:39,240 Speaker 1: story of the week. Shall I go first on this one? 205 00:10:39,400 --> 00:10:44,840 Speaker 1: You may thank you China, China, China. This week has 206 00:10:44,840 --> 00:10:46,199 Speaker 1: all been about China. 207 00:10:46,400 --> 00:10:48,640 Speaker 3: Right, That's been the only story. 208 00:10:48,880 --> 00:10:50,679 Speaker 1: Four I say China four times. 209 00:10:50,880 --> 00:10:53,200 Speaker 3: Sorry, an awful lot more. 210 00:10:53,559 --> 00:10:58,080 Speaker 1: This week, China held its largest ever military parade, ostensibly 211 00:10:58,200 --> 00:11:01,640 Speaker 1: to mark the eightieth anniversary of the defeat of Japan 212 00:11:01,720 --> 00:11:04,280 Speaker 1: in World War Two, but really this was all a 213 00:11:04,360 --> 00:11:07,840 Speaker 1: show of power, right it is. It was China asserting 214 00:11:08,360 --> 00:11:12,080 Speaker 1: its power, its position, its place in the world. The 215 00:11:12,200 --> 00:11:19,080 Speaker 1: precision marching soldiers, the hypersonic missiles on display, the military 216 00:11:19,320 --> 00:11:23,719 Speaker 1: robot dogs. Did you see those? Those things are terrifying, 217 00:11:24,400 --> 00:11:27,480 Speaker 1: The robotic kind of the little kind of canines that 218 00:11:27,520 --> 00:11:30,480 Speaker 1: walk along, they are just they are anyway. I would 219 00:11:30,480 --> 00:11:34,360 Speaker 1: say it's all pretty confronting. But what was remarkable about 220 00:11:34,360 --> 00:11:36,360 Speaker 1: this story in addition to all of that was the 221 00:11:36,400 --> 00:11:41,679 Speaker 1: attendees at this at this parade. Of course, Chinese President 222 00:11:41,760 --> 00:11:46,000 Speaker 1: Jijiping kind of overseeing it all. Russian President Vladimir Putin 223 00:11:46,080 --> 00:11:49,480 Speaker 1: was there, North Korean Dictator Kim Jong un was there. 224 00:11:50,840 --> 00:11:53,640 Speaker 1: The US President Donald Trump was not there. He wrote 225 00:11:53,640 --> 00:11:56,720 Speaker 1: on truth Social please give my warmest regards to Vladimir 226 00:11:56,800 --> 00:11:59,719 Speaker 1: Putin and Kim Jong Un as you conspire against the 227 00:11:59,800 --> 00:12:03,839 Speaker 1: United States of America. It's a very direct point, right, 228 00:12:04,440 --> 00:12:08,520 Speaker 1: but even more remarkable posing alongside those world leaders as 229 00:12:08,600 --> 00:12:12,760 Speaker 1: former Victorian Premier Daniel Andrews, an invited guest who has 230 00:12:12,840 --> 00:12:16,520 Speaker 1: been hammered for his decision to not just accept the 231 00:12:16,559 --> 00:12:19,600 Speaker 1: invitation because Bob Carr also accepted the invitation to travel 232 00:12:19,640 --> 00:12:22,559 Speaker 1: to China and be part of the overall kind of thing. 233 00:12:22,840 --> 00:12:24,840 Speaker 1: But Bob Carr didn't go to the parade. Bob car 234 00:12:24,920 --> 00:12:29,240 Speaker 1: didn't walk along that carpet alongside Vladimir Putin and the 235 00:12:29,280 --> 00:12:34,199 Speaker 1: North Korean dictator. Prime Minister Anthony Alberanizi forced to distance 236 00:12:34,280 --> 00:12:37,640 Speaker 1: himself from the former premier who's long had these strong 237 00:12:37,720 --> 00:12:41,920 Speaker 1: ties to China. It did prompt some great headlines, though 238 00:12:42,640 --> 00:12:46,160 Speaker 1: Daniel and the pariahs Den I thought was good. The 239 00:12:46,160 --> 00:12:50,480 Speaker 1: Herald Son went with Dictator Dan and the despots. This 240 00:12:50,640 --> 00:12:54,240 Speaker 1: is just good, right. So it's just it has been 241 00:12:54,480 --> 00:12:59,920 Speaker 1: a debacle that Dan Andrews created for himself, and a 242 00:13:00,000 --> 00:13:02,480 Speaker 1: aside from the military show, which I think it was 243 00:13:02,520 --> 00:13:05,720 Speaker 1: actually pretty frightening seeing all of that on display, there's 244 00:13:05,800 --> 00:13:09,120 Speaker 1: just this political angle that the Albanese government has had 245 00:13:09,160 --> 00:13:13,000 Speaker 1: to tiptoe their way through and having a labor figure 246 00:13:13,160 --> 00:13:17,280 Speaker 1: in the middle of it all not a great look, Natalie. 247 00:13:17,440 --> 00:13:18,760 Speaker 1: Remarkable for you this week? 248 00:13:20,520 --> 00:13:23,959 Speaker 3: Well, who would work for the banks? Really? I mean, 249 00:13:24,040 --> 00:13:27,720 Speaker 3: apart apart from the obvious answer of thousands, tens of 250 00:13:27,800 --> 00:13:29,640 Speaker 3: thousands of Australians. 251 00:13:29,080 --> 00:13:31,520 Speaker 1: And many of people probably listening to this podcast as well, 252 00:13:31,559 --> 00:13:34,120 Speaker 1: they're going it ends up right now, going I work 253 00:13:34,200 --> 00:13:34,920 Speaker 1: for a bank me. 254 00:13:35,520 --> 00:13:38,040 Speaker 3: But not a day has gone past this week where 255 00:13:38,080 --> 00:13:41,360 Speaker 3: we haven't talked about Yes, yes, China, we've talked about China, 256 00:13:41,400 --> 00:13:44,120 Speaker 3: but the banks, and really not for the good reasons. 257 00:13:44,559 --> 00:13:47,200 Speaker 3: Just one week after staff has learned they'd been laid 258 00:13:47,200 --> 00:13:51,000 Speaker 3: off via emails asking for their laptops back, reports emerged 259 00:13:51,080 --> 00:13:54,360 Speaker 3: that A and Z was considering somewhere between two thousand 260 00:13:54,360 --> 00:13:57,000 Speaker 3: and five thousand job cuts as part of a radical 261 00:13:57,160 --> 00:14:00,959 Speaker 3: restructure and in case that wasn't enough, and said staff 262 00:14:01,040 --> 00:14:03,160 Speaker 3: learned that their pay could be cut if they failed 263 00:14:03,160 --> 00:14:05,640 Speaker 3: to return to the office at least half the time. 264 00:14:06,160 --> 00:14:09,080 Speaker 3: It is perhaps no surprise then that staff morale is 265 00:14:09,160 --> 00:14:12,960 Speaker 3: somewhat slipping. An internal survey of thirty seven thousand employees 266 00:14:13,000 --> 00:14:18,680 Speaker 3: showed metrics like engagement, inclusion, well being falling since March 267 00:14:18,760 --> 00:14:22,280 Speaker 3: this year. To just put that in context, new CEO 268 00:14:22,400 --> 00:14:26,360 Speaker 3: and knows matters, he took over the job in May. Meanwhile, 269 00:14:26,520 --> 00:14:29,840 Speaker 3: I'm still working out what NAB boss Andrew Irvine has 270 00:14:29,920 --> 00:14:35,680 Speaker 3: against Kodak and Blockbuster. That was not candle after that 271 00:14:35,800 --> 00:14:41,480 Speaker 3: was actually adam After warning that Australia's productivity has stalled 272 00:14:41,520 --> 00:14:45,560 Speaker 3: and complacency is putting future generations at risk. He spoke 273 00:14:45,600 --> 00:14:48,760 Speaker 3: to four hundred business leaders and said that AI it's 274 00:14:48,800 --> 00:14:51,200 Speaker 3: the game changer and that ignoring it isn't an option, 275 00:14:51,320 --> 00:14:53,880 Speaker 3: saying that people using AI will take the jobs of 276 00:14:53,920 --> 00:14:56,840 Speaker 3: those who don't. Which, while he was talking about Australia 277 00:14:56,840 --> 00:14:58,600 Speaker 3: as a whole, you can't help think that there was 278 00:14:58,600 --> 00:15:01,360 Speaker 3: some nab ears pricking up at that, and that for 279 00:15:01,400 --> 00:15:06,000 Speaker 3: businesses failing to adopt new technology is like Kodak or Blockbuster, 280 00:15:06,280 --> 00:15:09,360 Speaker 3: a relevance in waiting. But when we're talking about productivity, 281 00:15:09,400 --> 00:15:10,800 Speaker 3: I do want to loop back to that A and 282 00:15:10,920 --> 00:15:14,520 Speaker 3: Z survey because when you're asking employees on feelings like 283 00:15:14,560 --> 00:15:18,000 Speaker 3: engagement and inclusion and well being, ultimately the question that 284 00:15:18,040 --> 00:15:20,360 Speaker 3: you're asking is how productive can you be in your 285 00:15:20,440 --> 00:15:24,120 Speaker 3: current workplace? And what an Z staffers are telling senior 286 00:15:24,200 --> 00:15:26,400 Speaker 3: leaders is right now in this current environment. 287 00:15:26,920 --> 00:15:32,040 Speaker 1: Not very It's good editorial there from Natalie McDonald. 288 00:15:32,280 --> 00:15:36,440 Speaker 3: It's not editorial. It's thirty seven thousand employees. It's just numbers. 289 00:15:36,640 --> 00:15:38,440 Speaker 3: Michael good one. 290 00:15:39,800 --> 00:15:43,120 Speaker 1: Enough Not enough though, was it, Adam? 291 00:15:43,400 --> 00:15:45,200 Speaker 4: Let's see for remarkability. 292 00:15:45,240 --> 00:15:49,360 Speaker 2: That's a lot of people when they're their biggest value 293 00:15:49,400 --> 00:15:55,000 Speaker 2: companies dominate the Australian Stock Exchange. Value banking is important 294 00:15:55,000 --> 00:15:57,320 Speaker 2: to all of us. Typically we're not you know, you 295 00:15:57,400 --> 00:16:01,080 Speaker 2: need to use debt and savings. It's pretty important. A 296 00:16:01,160 --> 00:16:05,280 Speaker 2: Quarry Bank this week rising as a home loan lender provider. 297 00:16:05,520 --> 00:16:06,720 Speaker 3: Yes, thank you, Adam. 298 00:16:07,520 --> 00:16:13,760 Speaker 2: It's just a spectacular competitive topography. So I think it 299 00:16:13,840 --> 00:16:20,160 Speaker 2: is remarkable. But this week that parade in China was 300 00:16:20,480 --> 00:16:24,960 Speaker 2: even more remarkable. And I do think Dan Andrews made 301 00:16:25,000 --> 00:16:30,480 Speaker 2: a mistake serving self interest over Australia's interest, and it 302 00:16:30,520 --> 00:16:32,520 Speaker 2: was just to me. I was gobsmacked about watching the 303 00:16:33,080 --> 00:16:36,360 Speaker 2: scale of this thing and just the fawning to it 304 00:16:36,560 --> 00:16:39,480 Speaker 2: to China. We know they're a massive economy and trading partner, 305 00:16:39,520 --> 00:16:42,440 Speaker 2: but oh god, there was a little bit of concern 306 00:16:43,480 --> 00:16:46,160 Speaker 2: around as well. So I think this week that was 307 00:16:46,400 --> 00:16:48,720 Speaker 2: just the more remarkable. I mean's a historic thing, eighty 308 00:16:48,760 --> 00:16:51,240 Speaker 2: years anniversary and where they've come in that time. 309 00:16:51,600 --> 00:16:52,160 Speaker 4: Incredible? 310 00:16:52,280 --> 00:16:55,600 Speaker 1: Do you reckon? Dan Andrews had a realization, a moment 311 00:16:55,600 --> 00:16:57,560 Speaker 1: of realization when he's on that red carpet. He looks 312 00:16:57,640 --> 00:17:00,600 Speaker 1: up and goes, oh god, Putin's here, Kim John Woudan' 313 00:17:01,200 --> 00:17:02,320 Speaker 1: maybe I shouldn't have come. 314 00:17:02,560 --> 00:17:05,560 Speaker 2: But it was also predictable. I think his self interest. 315 00:17:06,200 --> 00:17:08,960 Speaker 2: He's kind of served that above everything for a long time. 316 00:17:09,119 --> 00:17:11,200 Speaker 2: So no, I don't in his case. 317 00:17:11,920 --> 00:17:14,680 Speaker 1: All right, what's the total score over all? At the moment? 318 00:17:14,960 --> 00:17:15,840 Speaker 3: You know what it is? 319 00:17:16,320 --> 00:17:16,840 Speaker 4: To nil? 320 00:17:17,119 --> 00:17:19,440 Speaker 2: And boy am I feeling a chill to my left? 321 00:17:21,200 --> 00:17:25,320 Speaker 1: Natalie is situated to Adams left. Just for the record, Okay. 322 00:17:25,000 --> 00:17:26,320 Speaker 4: All right, fine, back Natalie. 323 00:17:26,400 --> 00:17:28,640 Speaker 1: Anything can happen in the second half a quick break 324 00:17:28,680 --> 00:17:31,720 Speaker 1: and we'll come back with our mystery category of the week. 325 00:17:39,080 --> 00:17:41,880 Speaker 1: All right, Natalie, we are now moving into the mystery 326 00:17:42,000 --> 00:17:44,040 Speaker 1: category of the week, and we're going to do this 327 00:17:44,119 --> 00:17:46,800 Speaker 1: faster because we were a touch for both in the 328 00:17:46,840 --> 00:17:51,280 Speaker 1: first half of the show. We being all of us combined, 329 00:17:51,280 --> 00:17:54,359 Speaker 1: there's no one person at fault. We are looking here 330 00:17:54,520 --> 00:17:58,960 Speaker 1: for our mystery category being our favorite sector specific story, 331 00:17:59,119 --> 00:18:01,439 Speaker 1: which is not the catchy title, and I could have 332 00:18:01,440 --> 00:18:05,080 Speaker 1: probably I should have put that one through chat JPT 333 00:18:05,600 --> 00:18:10,080 Speaker 1: come up with something it's nazier than this sector specific story. 334 00:18:11,680 --> 00:18:15,680 Speaker 1: What have used? What what sector are you targeting here, Natalie, 335 00:18:15,760 --> 00:18:16,560 Speaker 1: and be specific? 336 00:18:16,880 --> 00:18:19,959 Speaker 3: Well, it might be that I'm flying to good old 337 00:18:20,000 --> 00:18:24,159 Speaker 3: England this week. It's endless rolling hills. I just hit 338 00:18:24,200 --> 00:18:27,239 Speaker 3: the studio, hit to the music, but it's got me. 339 00:18:27,320 --> 00:18:32,480 Speaker 3: Thank you about farming and agriculture. Of course it has, 340 00:18:33,119 --> 00:18:38,119 Speaker 3: of course, because Australia's farm sector is breaking records. 341 00:18:38,160 --> 00:18:38,520 Speaker 4: People. 342 00:18:38,800 --> 00:18:42,159 Speaker 3: Agriculture, fisheries and forestry production is tipped to hit a 343 00:18:42,320 --> 00:18:46,760 Speaker 3: whopping one hundred and one billion dollars this financial year. 344 00:18:47,119 --> 00:18:50,240 Speaker 3: Livestock alone makes up more forty one billion dollars, while 345 00:18:50,280 --> 00:18:53,439 Speaker 3: wheat yields, although down due to drought, are still on 346 00:18:53,520 --> 00:18:57,160 Speaker 3: track for a monster sixty two million ton at harvest. 347 00:18:57,600 --> 00:19:01,640 Speaker 3: And there is sweeter news for fruit growers. We love 348 00:19:01,640 --> 00:19:05,520 Speaker 3: a pun. After years of negotiation, Australian apples can now 349 00:19:05,600 --> 00:19:09,679 Speaker 3: head to Canada without costly fumigation or freezing. But who 350 00:19:09,760 --> 00:19:12,159 Speaker 3: knew apples was such a competitive market? I did not. 351 00:19:12,560 --> 00:19:16,639 Speaker 3: Australia produces just three hundred tons a year, while China, 352 00:19:16,800 --> 00:19:19,960 Speaker 3: yes we're talking about bloody China again, pumps out more 353 00:19:20,000 --> 00:19:25,320 Speaker 3: than forty three million tons. And speaking of apples, there's 354 00:19:25,359 --> 00:19:29,119 Speaker 3: a rotten core in the veggie aisle. The I Toldia 355 00:19:29,240 --> 00:19:31,159 Speaker 3: was going to gather momentum as we went along. Today, 356 00:19:31,400 --> 00:19:34,680 Speaker 3: the ah LEC has taken four major supplies to court, 357 00:19:34,720 --> 00:19:37,840 Speaker 3: accusing them of running a cartel to fix prices at 358 00:19:37,840 --> 00:19:41,200 Speaker 3: Aldi stores across New South Wales, Victoria and Queensland between 359 00:19:41,240 --> 00:19:43,760 Speaker 3: twenty eighteen and twenty twenty four. The case centers on 360 00:19:43,920 --> 00:19:48,879 Speaker 3: agile pricing agreements for everyday staples like broccoli, lettuce, cucumbers 361 00:19:48,880 --> 00:19:53,920 Speaker 3: and zucchini, the staples of your pantry. Aldi itself isn't 362 00:19:53,920 --> 00:19:56,320 Speaker 3: accused of wrongdoing, just to make that clear, And the 363 00:19:56,359 --> 00:20:00,760 Speaker 3: case comes amid broader scrutiny of supermarket pricing practices. Coles 364 00:20:00,840 --> 00:20:03,480 Speaker 3: and Woolworths are also facing legal action. And how do 365 00:20:03,520 --> 00:20:04,400 Speaker 3: you like them apples? 366 00:20:04,640 --> 00:20:08,880 Speaker 1: Oh dear Lord, do I just surrender? 367 00:20:08,960 --> 00:20:09,120 Speaker 2: Now? 368 00:20:09,480 --> 00:20:15,360 Speaker 1: That was a very convincing emphatic Yes, I'm going to 369 00:20:15,480 --> 00:20:19,440 Speaker 1: just focus on just you picked such a broad category 370 00:20:19,480 --> 00:20:22,080 Speaker 1: there in terms of our agriculture and farming, and. 371 00:20:22,080 --> 00:20:24,200 Speaker 3: Then you went into this still one of my stories. 372 00:20:25,440 --> 00:20:27,600 Speaker 1: We will get to that shortly. I want to talk 373 00:20:27,640 --> 00:20:32,560 Speaker 1: specifically about the automotive sector, Adam, and this is nowhere 374 00:20:32,560 --> 00:20:38,600 Speaker 1: near as exotic. There's no cartels here, but we are 375 00:20:38,640 --> 00:20:42,639 Speaker 1: talking about China once again. There is a theme in 376 00:20:42,640 --> 00:20:46,560 Speaker 1: today's show. Right. For the first time ever, four Chinese 377 00:20:46,680 --> 00:20:50,720 Speaker 1: car brands have cracked Australia's top ten. Admittedly they are 378 00:20:50,800 --> 00:20:53,520 Speaker 1: ranked number six, eight, nine and ten. But to have 379 00:20:53,680 --> 00:20:57,560 Speaker 1: four in the top ten when a decade ago, five 380 00:20:57,600 --> 00:21:00,240 Speaker 1: years ago there were none and now there are four 381 00:21:01,119 --> 00:21:05,560 Speaker 1: bid best place, followed by GWMMG and Cherry Like this 382 00:21:05,600 --> 00:21:09,320 Speaker 1: is incredible. Chinese made vehicles made up almost twenty percent 383 00:21:09,440 --> 00:21:12,679 Speaker 1: of all sales last month. That is a sixty seven 384 00:21:13,200 --> 00:21:19,399 Speaker 1: percent jump on the same time last year, sixty seven percent. 385 00:21:19,840 --> 00:21:22,679 Speaker 1: Just let that sink in for a moment. That is 386 00:21:22,720 --> 00:21:30,840 Speaker 1: a very large number, hugely significant. We've heard recent said 387 00:21:30,920 --> 00:21:33,119 Speaker 1: here I am I'm trying to beat this up right, 388 00:21:33,280 --> 00:21:36,399 Speaker 1: this is I don't need to don't sell it out. Yeah, 389 00:21:36,440 --> 00:21:38,320 Speaker 1: this is the thing. And that's why I'm like, why 390 00:21:38,359 --> 00:21:40,760 Speaker 1: are you saying this, Michael as I'm going because these 391 00:21:40,840 --> 00:21:44,960 Speaker 1: numbers are extraordinary, they are big, and the story, the 392 00:21:45,119 --> 00:21:48,399 Speaker 1: narrative behind this is actually really quite powerful. I don't 393 00:21:48,520 --> 00:21:49,480 Speaker 1: need to. 394 00:21:49,760 --> 00:21:52,640 Speaker 2: Know what name isn't there what hold them exactly? 395 00:21:52,720 --> 00:21:54,640 Speaker 1: I was going to make this point that what we've 396 00:21:54,680 --> 00:21:59,080 Speaker 1: actually seen here is a major major shift in vehicles 397 00:21:59,320 --> 00:22:03,920 Speaker 1: because obviously we have no vehicle manufacturing industry in Australia anymore. 398 00:22:04,040 --> 00:22:07,640 Speaker 1: That is all well and truly gone, but no longer. 399 00:22:07,760 --> 00:22:10,719 Speaker 1: I mean, Toyota is still number one, so we are 400 00:22:10,720 --> 00:22:13,720 Speaker 1: still very much dependent on Japan. But we are seeing 401 00:22:13,880 --> 00:22:16,879 Speaker 1: once again the rise of China when it comes to 402 00:22:17,040 --> 00:22:20,160 Speaker 1: when it comes to cars, and we saw it actually 403 00:22:20,200 --> 00:22:24,160 Speaker 1: recently with Egers Automotive ADAM, which is obviously the ASX 404 00:22:24,200 --> 00:22:30,000 Speaker 1: listed car dealer, and they have been a really clear 405 00:22:30,040 --> 00:22:34,600 Speaker 1: demonstration of the rise of the Chinese automotive industry because 406 00:22:34,600 --> 00:22:38,840 Speaker 1: they had up until recently the exclusive representation rights for BYD, 407 00:22:39,800 --> 00:22:42,680 Speaker 1: which is the big EV brand that we were telling 408 00:22:42,800 --> 00:22:47,600 Speaker 1: a stack of cars into Australia. Eggers are selling about 409 00:22:47,640 --> 00:22:51,040 Speaker 1: eighty percent of all new BYD vehicles in the country. 410 00:22:51,200 --> 00:22:55,159 Speaker 1: There was twenty three and a half thousand BYD vehicles 411 00:22:55,200 --> 00:22:59,480 Speaker 1: sold in just six months, and and Eagers sold eighty 412 00:22:59,480 --> 00:23:02,280 Speaker 1: percent of those. It is that was double, That was 413 00:23:02,440 --> 00:23:06,280 Speaker 1: doubled in just six months. That is extraordinary, right, We've 414 00:23:06,280 --> 00:23:08,600 Speaker 1: had those stats about the fact that it's going to 415 00:23:08,640 --> 00:23:11,200 Speaker 1: be forty percent of new car imports by twenty thirty 416 00:23:11,240 --> 00:23:13,520 Speaker 1: five are going to be coming from China. I reckon 417 00:23:13,560 --> 00:23:15,880 Speaker 1: at this rate, we're going to hit that earlier than that. 418 00:23:16,200 --> 00:23:19,000 Speaker 1: At the speed and the price point that they are offering, 419 00:23:19,080 --> 00:23:20,600 Speaker 1: it feels as though we're going to be able to 420 00:23:20,600 --> 00:23:23,720 Speaker 1: get there a lot lot faster. Eagers was talking about 421 00:23:23,720 --> 00:23:26,000 Speaker 1: the fact that at least twenty three brands Chinese brands 422 00:23:26,000 --> 00:23:28,400 Speaker 1: are already for sale in Australia that or they've got 423 00:23:28,400 --> 00:23:31,320 Speaker 1: confirmed launch plans. Another five are likely to arrive soon. 424 00:23:31,720 --> 00:23:34,359 Speaker 1: The speed at which we are seeing China dominate the 425 00:23:34,400 --> 00:23:38,399 Speaker 1: Australian automotive market is just incredible and I do not 426 00:23:38,480 --> 00:23:41,800 Speaker 1: need to exaggerate that the facts are extraordinary enough on 427 00:23:41,840 --> 00:23:49,159 Speaker 1: their own. No puns needed, no elaborate waffle, just the facts. 428 00:23:49,359 --> 00:23:52,240 Speaker 2: One question if I made Michael, how many cars were sold? 429 00:23:52,440 --> 00:23:52,639 Speaker 4: You know? 430 00:23:52,720 --> 00:23:52,800 Speaker 1: This? 431 00:23:52,880 --> 00:23:53,000 Speaker 2: Was it? 432 00:23:53,000 --> 00:23:54,720 Speaker 4: One hundred and three thousand. 433 00:23:55,760 --> 00:23:59,360 Speaker 1: Yes, that's a big number, Yes it is. 434 00:23:59,480 --> 00:24:00,800 Speaker 4: This is a huge industry. 435 00:24:01,080 --> 00:24:03,960 Speaker 3: Do you know what's a really big number? One hundred 436 00:24:03,960 --> 00:24:05,200 Speaker 3: and one billion dollars? 437 00:24:05,359 --> 00:24:07,240 Speaker 4: Thank you, Natalie wins. 438 00:24:08,560 --> 00:24:12,200 Speaker 2: It was quite a comfortable victory for a couple of reasons. 439 00:24:12,960 --> 00:24:15,840 Speaker 2: Australia being the food bowl of the world, I think 440 00:24:15,920 --> 00:24:19,639 Speaker 2: is a wonderful notion, and us pushing great growing and 441 00:24:19,680 --> 00:24:22,520 Speaker 2: produce internationally, not just locally. 442 00:24:22,680 --> 00:24:23,160 Speaker 4: Awesome. 443 00:24:24,160 --> 00:24:26,479 Speaker 2: The fact that I've got extended family who are farmers 444 00:24:26,480 --> 00:24:28,400 Speaker 2: has nothing to do with my decision. 445 00:24:28,600 --> 00:24:33,199 Speaker 1: You also have family who drive cars too, just pointing 446 00:24:33,200 --> 00:24:33,560 Speaker 1: that out. 447 00:24:34,040 --> 00:24:37,359 Speaker 4: So Natalie, you win. It's a great story, Michel. 448 00:24:37,520 --> 00:24:40,199 Speaker 2: Just a huge industry in our country, none of it, 449 00:24:40,200 --> 00:24:45,959 Speaker 2: of course, manufactured locally, all imported, spectacular numbers. But on 450 00:24:46,000 --> 00:24:47,560 Speaker 2: this one, agriculture. 451 00:24:46,960 --> 00:24:51,080 Speaker 1: Has to win. Okay, all right, let's do this the 452 00:24:51,320 --> 00:24:55,880 Speaker 1: final category. This is it. It all depends on this, Natalie. 453 00:24:55,920 --> 00:24:56,679 Speaker 3: You can get fast. 454 00:24:56,840 --> 00:25:00,920 Speaker 1: Oh okay, all right, thank you. I will Adam's family 455 00:25:01,000 --> 00:25:03,720 Speaker 1: of farmers. Therefore he loves farm stories. So how about 456 00:25:03,760 --> 00:25:11,640 Speaker 1: this one, Adam Okay, a humble heifer has sold at 457 00:25:11,680 --> 00:25:18,639 Speaker 1: auction for three hundred and fifty thousand dollars, the third 458 00:25:18,680 --> 00:25:21,840 Speaker 1: most expensive sale ever. There was another one that sold 459 00:25:21,840 --> 00:25:24,600 Speaker 1: in twenty twenty two for four hundred thousand dollars, and 460 00:25:24,680 --> 00:25:27,200 Speaker 1: angus bull sold in twenty twenty three for three hundred 461 00:25:27,200 --> 00:25:30,040 Speaker 1: and sixty thousand dollars. But three hundred and fifty thousand 462 00:25:30,080 --> 00:25:35,399 Speaker 1: dollars for one cow in this economy, it's extraordinary. That 463 00:25:35,560 --> 00:25:39,119 Speaker 1: is just remarkable. The thirteen month old was purchased by 464 00:25:39,160 --> 00:25:42,800 Speaker 1: a cattle IVF company called gene Flow, which plans to 465 00:25:42,840 --> 00:25:47,080 Speaker 1: collect embryos and produce something like thirty carves annually, which 466 00:25:47,119 --> 00:25:49,800 Speaker 1: is a great story just for the science of it 467 00:25:50,000 --> 00:25:54,480 Speaker 1: as well, right amazing. To give it some international contexts 468 00:25:55,119 --> 00:26:00,320 Speaker 1: to context for all of Donald Trump's talk of the 469 00:26:00,440 --> 00:26:06,240 Speaker 1: US exporting beef to Australia, Australia's top customer for our 470 00:26:06,280 --> 00:26:09,040 Speaker 1: beef exports has of course been the United States, which 471 00:26:09,040 --> 00:26:11,240 Speaker 1: has brought just over two hundred and forty six thousand 472 00:26:11,320 --> 00:26:15,160 Speaker 1: tons in the first seven months of twenty twenty five. 473 00:26:15,200 --> 00:26:18,400 Speaker 1: That is up twenty seven percent on the same time 474 00:26:18,480 --> 00:26:21,760 Speaker 1: last year. That is a huge number, right, because they've 475 00:26:21,800 --> 00:26:23,960 Speaker 1: got this, They've got a shortage. They've got a shortage 476 00:26:23,960 --> 00:26:27,840 Speaker 1: of beef in the US. The US has for years 477 00:26:27,920 --> 00:26:31,840 Speaker 1: been relying on buying live cattle out of Mexico. That 478 00:26:32,240 --> 00:26:36,439 Speaker 1: trade has largely now been closed by US authorities because 479 00:26:36,480 --> 00:26:41,919 Speaker 1: of concerns about this spread of a flesh eating pest 480 00:26:43,680 --> 00:26:48,320 Speaker 1: called New World screw worm? 481 00:26:49,040 --> 00:26:50,359 Speaker 3: Can we fact check this? 482 00:26:52,040 --> 00:26:53,120 Speaker 2: Have you just meet that up? 483 00:26:53,600 --> 00:26:57,359 Speaker 1: Wikipedia has never been wrong. The New World screw worm 484 00:26:57,560 --> 00:26:59,800 Speaker 1: is actually what this thing is called. Beef supply from 485 00:27:00,480 --> 00:27:03,520 Speaker 1: has all but stopped flowing to the US after the 486 00:27:03,520 --> 00:27:07,959 Speaker 1: President enforced a fifty percent tariff. These are these are 487 00:27:08,040 --> 00:27:12,560 Speaker 1: high stakes. Oh, very good for the cattle industry. And 488 00:27:13,040 --> 00:27:18,919 Speaker 1: as I don't want to mince words here, all that 489 00:27:18,960 --> 00:27:21,159 Speaker 1: one that was excellent. But with the US beefing with 490 00:27:21,240 --> 00:27:28,119 Speaker 1: the rest of the world, we are in the prime. 491 00:27:31,359 --> 00:27:33,160 Speaker 4: Are they all going cattle class? Yes? 492 00:27:33,359 --> 00:27:35,280 Speaker 1: So you know what, there was something there and it 493 00:27:35,440 --> 00:27:37,760 Speaker 1: just it flitted away and I couldn't quite grab it anyway. 494 00:27:38,400 --> 00:27:41,440 Speaker 1: Cattle Big Story, Favorite Story of the Week three hundred 495 00:27:41,440 --> 00:27:45,639 Speaker 1: and fifty thousand, dollars for just one single calf. Remarkable. 496 00:27:46,080 --> 00:27:48,840 Speaker 4: Natalie, Oh, I hefer not a car? 497 00:27:48,960 --> 00:27:49,120 Speaker 2: Oh? 498 00:27:49,160 --> 00:27:50,240 Speaker 1: Yes, sorry, I'm sorry. 499 00:27:51,200 --> 00:27:54,960 Speaker 3: Words matter? Do you know what else matters? Dress codes? 500 00:27:56,000 --> 00:27:59,320 Speaker 3: So again, recognizing, recognizing that fear and greed is a 501 00:27:59,359 --> 00:28:03,480 Speaker 3: is an audio medium. Would you just let us know 502 00:28:03,520 --> 00:28:05,440 Speaker 3: what it is that you're wearing today, because you're looking 503 00:28:05,440 --> 00:28:06,359 Speaker 3: pretty pretty sharp. 504 00:28:06,400 --> 00:28:08,880 Speaker 2: Actually, I think it's business satire. 505 00:28:09,320 --> 00:28:12,639 Speaker 3: It is Adam's wearing a splendid suit. It is navy, 506 00:28:12,720 --> 00:28:18,120 Speaker 3: white shirt, red tie. We're loving it. Michael my cord, 507 00:28:18,119 --> 00:28:19,080 Speaker 3: are you wearing today? 508 00:28:20,520 --> 00:28:23,960 Speaker 1: I am wearing a shirt, pants and a jacket. 509 00:28:24,520 --> 00:28:26,480 Speaker 3: You've actually mixed it up. There's a denim jacket going 510 00:28:26,480 --> 00:28:30,200 Speaker 3: on today. After our discussion about your wardrobe attire yesterday. 511 00:28:29,880 --> 00:28:33,320 Speaker 1: Yes, I was criticized for wearing roughly the same thing 512 00:28:33,359 --> 00:28:35,399 Speaker 1: each day, which is I have a standard outfit, a 513 00:28:35,440 --> 00:28:39,480 Speaker 1: standard uniform which is pants, a T shirt and a 514 00:28:39,520 --> 00:28:41,200 Speaker 1: shacket of some variety. 515 00:28:41,920 --> 00:28:44,280 Speaker 3: But so I really like that you use the term 516 00:28:44,640 --> 00:28:50,520 Speaker 3: uniform there, because uniforms are important and in fact, seventy 517 00:28:50,680 --> 00:28:53,840 Speaker 3: five percent of professionals, according to UK studies, say that 518 00:28:54,200 --> 00:28:59,520 Speaker 3: professional functional uniforms actually boost efficiency, they lift morale, they 519 00:28:59,560 --> 00:29:01,200 Speaker 3: build confidence. 520 00:29:00,960 --> 00:29:02,680 Speaker 1: What's also because you don't have to think about what 521 00:29:02,720 --> 00:29:03,760 Speaker 1: you're going to wear, and. 522 00:29:03,680 --> 00:29:07,760 Speaker 3: They can even make staff feel more valued. Wow, which 523 00:29:07,800 --> 00:29:10,480 Speaker 3: I believe was the point that I was actually making, Michael. 524 00:29:10,560 --> 00:29:13,280 Speaker 3: So it's no wonder then that Quantus is banking on 525 00:29:13,320 --> 00:29:16,320 Speaker 3: a style upgrade. Yes, Michael, it's your favorite story. The 526 00:29:16,360 --> 00:29:20,120 Speaker 3: airline is rolling out its first new uniforms in more 527 00:29:20,160 --> 00:29:24,160 Speaker 3: than a decade, designed by Ossie fashion star Rebecca Valance, 528 00:29:24,200 --> 00:29:28,640 Speaker 3: best known for dressing royals, celebrities, and even Quantus owned 529 00:29:28,680 --> 00:29:32,840 Speaker 3: business class pajamas, as well as designing the dress that 530 00:29:32,840 --> 00:29:35,360 Speaker 3: I'm actually coincidentally wearing to a wedding in Spain later 531 00:29:35,400 --> 00:29:37,440 Speaker 3: this month. But that is not the point. Back to Quantus. 532 00:29:37,600 --> 00:29:40,560 Speaker 3: She will kit out seventeen and a half thousand staff 533 00:29:40,600 --> 00:29:44,520 Speaker 3: across the airline with a focus on timeless design, comfort 534 00:29:44,600 --> 00:29:48,880 Speaker 3: and functionality because pilots can spend twenty hours in the 535 00:29:48,920 --> 00:29:52,080 Speaker 3: same outfit, which Michael makes your six days a week 536 00:29:52,200 --> 00:29:55,520 Speaker 3: look actually, you know, pretty average in comparison. 537 00:29:55,760 --> 00:29:56,520 Speaker 4: What do you do on the. 538 00:29:56,480 --> 00:29:59,840 Speaker 2: Seventh nude then. 539 00:30:01,520 --> 00:30:02,520 Speaker 1: Naked tuesdays? 540 00:30:02,560 --> 00:30:02,840 Speaker 2: Again? 541 00:30:03,000 --> 00:30:05,800 Speaker 3: Fair agreed, it's an audio it's an audio medium, but 542 00:30:05,840 --> 00:30:08,120 Speaker 3: I think no one needs the visuals for that the 543 00:30:08,160 --> 00:30:12,040 Speaker 3: new look debuts in twenty twenty seven. This is perfectly 544 00:30:12,080 --> 00:30:16,560 Speaker 3: timed for Quantasa's ultra long haul project Sunrise flights and 545 00:30:16,640 --> 00:30:18,880 Speaker 3: ladies and gentlemen, that is it. I think I just won. 546 00:30:21,680 --> 00:30:22,800 Speaker 4: Unfortunately it didn't. 547 00:30:25,320 --> 00:30:28,960 Speaker 2: Now normally Michael would be doing a Quantis story, so 548 00:30:29,000 --> 00:30:32,239 Speaker 2: I'm a little bit baffled. But the three hundred and 549 00:30:32,280 --> 00:30:36,520 Speaker 2: fifty thousand dollars heifer, and really not just that, because 550 00:30:36,520 --> 00:30:39,720 Speaker 2: that is a spectacular sub but the trade, the Australian 551 00:30:39,760 --> 00:30:43,680 Speaker 2: cattle trade base trode to the US twenty seven percent 552 00:30:43,880 --> 00:30:48,080 Speaker 2: up my god, So even I'd have to do the 553 00:30:48,160 --> 00:30:51,040 Speaker 2: numbers seventy and a half thousand, So seventy thousand, five 554 00:30:51,120 --> 00:30:53,719 Speaker 2: hundred staff. That's a stagling number new uniforms. 555 00:30:54,360 --> 00:30:57,280 Speaker 4: I kind of want one. I don't need it, I. 556 00:30:57,200 --> 00:31:01,200 Speaker 3: Want I'm actually thinking that if I like, put on 557 00:31:01,240 --> 00:31:03,000 Speaker 3: the dress and I'm playing to wear to this wedding 558 00:31:03,120 --> 00:31:06,760 Speaker 3: and rock up like I could, I could man the 559 00:31:06,800 --> 00:31:11,040 Speaker 3: drinks troty on the fly if they're so if they're 560 00:31:11,120 --> 00:31:13,920 Speaker 3: if they're feeling a bit short staffed, it's fine, I'll 561 00:31:14,000 --> 00:31:15,040 Speaker 3: just like don the dress and. 562 00:31:15,040 --> 00:31:18,080 Speaker 1: Hop in and stuff discount as well. Staff travel. 563 00:31:18,520 --> 00:31:19,040 Speaker 4: The new work. 564 00:31:19,440 --> 00:31:21,960 Speaker 1: The New World screwworm is a real thing. I did 565 00:31:22,000 --> 00:31:23,719 Speaker 1: not just make it up. I've just googled it and 566 00:31:23,760 --> 00:31:29,200 Speaker 1: it is a hideous little beast anyway, and its scientific 567 00:31:29,280 --> 00:31:31,960 Speaker 1: name is cochlear meya homnivorax. 568 00:31:32,760 --> 00:31:34,000 Speaker 4: Good pronunciation. 569 00:31:34,640 --> 00:31:40,720 Speaker 2: Thank you, Michael, New World screw supplementary. Okay, so three 570 00:31:40,720 --> 00:31:47,520 Speaker 2: stories to one points were Natalie ninety extremely highly scoring 571 00:31:48,360 --> 00:31:54,360 Speaker 2: Michael ninety two. So we have out one win, a piece, 572 00:31:54,400 --> 00:31:56,200 Speaker 2: and a dead hate. I think we need to get 573 00:31:56,200 --> 00:31:58,040 Speaker 2: a rematch when you come back from holiday. 574 00:31:58,240 --> 00:31:59,160 Speaker 3: Okay, I'm in. 575 00:31:59,440 --> 00:32:01,400 Speaker 1: Let's do it, all right. This is a good way 576 00:32:01,440 --> 00:32:03,720 Speaker 1: to finish. This is this is solid, This is a 577 00:32:03,760 --> 00:32:05,160 Speaker 1: good result overall. 578 00:32:05,320 --> 00:32:06,880 Speaker 3: It would have been embarrassing if I would have come 579 00:32:06,880 --> 00:32:14,240 Speaker 3: in and just like waited. There is a generosity here, kindness. 580 00:32:14,840 --> 00:32:17,560 Speaker 1: Thank you for robbing me of my of my victory there. 581 00:32:17,720 --> 00:32:17,920 Speaker 4: Thank you. 582 00:32:17,960 --> 00:32:20,200 Speaker 1: I'm trying to bask in this moment and you've taken 583 00:32:20,240 --> 00:32:21,600 Speaker 1: it away. Thank you very much. 584 00:32:21,640 --> 00:32:22,000 Speaker 4: Natalie. 585 00:32:22,200 --> 00:32:24,360 Speaker 2: Thank you, Michael, thank you, Adam, thank you, Michael, Thank 586 00:32:24,360 --> 00:32:24,880 Speaker 2: you Natalie. 587 00:32:24,880 --> 00:32:27,520 Speaker 1: Make sure you're following the podcast, and please hit Fearangreed 588 00:32:27,560 --> 00:32:29,240 Speaker 1: dot com dode you to sign up for our free 589 00:32:29,320 --> 00:32:32,640 Speaker 1: daily newsletter. I'm Michael Thompson, and that was fear and greed. 590 00:32:32,800 --> 00:32:33,600 Speaker 4: Have a great weekend.