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

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

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Speaker 2: Al Good morning Michael, Sean.

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

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

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

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Speaker 1: category changes each week, and our favorite business story. In

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Speaker 1: the last three weeks have been slightly disrupted because I

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Speaker 1: had a couple of weeks off. You were away for

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Speaker 1: the week before that, and so as a result, we've

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Speaker 1: had a number of special guest judges coming in. We

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Speaker 1: had Diana Messina from AMP, we had Tim Burrows from Umbrella,

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Speaker 1: and our Fear and Greed colleague Adam Lang in each

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Speaker 1: of those occasions stepped up.

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Speaker 2: Who'd I'd like to thank Adam for stepping up, But

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Speaker 2: did I competitors?

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Speaker 1: Well, good morning Adam. And it must be stated that

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Speaker 1: I have reviewed the tapes from the last couple of

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Speaker 1: weeks and I've noticed a trend. And as Sean always

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Speaker 1: says on this podcast, the trend is your friend, and

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Speaker 1: I noticed a very very very clear trend. Unfortunately, with

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Speaker 1: all of these guest judges, none of them gave you

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Speaker 1: a win.

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Speaker 3: Yeah. Look, you two both complain about the poor judging

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Speaker 3: each week, and I think I'm inclined to agree with you.

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Speaker 1: Now that the judge is the problem each time. It's

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Speaker 1: ever the competitor. So, okay, you are back now in

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Speaker 1: the judging seat. Have you got kind of a new

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Speaker 1: respect for the judging? Has it changed your criteria at all?

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Speaker 2: Or is it just like he's lost all respect for judge?

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Speaker 3: Doesn't it?

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Speaker 2: Did it for two weeks, Tim did it for one week.

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Speaker 2: I have it not listening this morning.

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Speaker 3: I suspect that they both did a great job. I

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Speaker 3: have spent some time in the metaphorical room of mirrors,

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Speaker 3: royal HG style, the fetal position, really examining my decisions,

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Speaker 3: my life choices. So yes, I've come in a little

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Speaker 3: fresh today. We'll see how we go.

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Speaker 1: Okay, all right, shall we jump straight into it? Okay,

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Speaker 1: the biggest business story of the week, Sean, shall I

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Speaker 1: go first?

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Speaker 2: Please?

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Speaker 3: Okay?

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Speaker 1: The biggest business story is politics? All right, Parliament is back.

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Speaker 1: It is back. It is officially back on Now, keep

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Speaker 1: in mind that this only happens once every three years,

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Speaker 1: that the Parliament resumes for a new parliamentary term. Right,

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Speaker 1: so this is big news. This is the biggest story

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Speaker 1: of not just this year, but of this three year period.

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Speaker 1: So therefore it must win. Why are you looking at

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Speaker 1: me like that, Sean.

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Speaker 2: Because that's just stupid. It isn't so stupid as I say.

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Speaker 3: I'm like, it's not a strong stuff.

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Speaker 1: I'm like, you know, you don't really believe that, do you, Michael?

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Speaker 1: And I thought, yes, actually I do. Because there is

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Speaker 1: just so much ceremony, there is so much excitement around it.

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Speaker 1: Big legislation introduced this week. They're really kind of kicking

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Speaker 1: off here with a bit of a bang because they've

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Speaker 1: got legislation to cut hex's debt and put safeguards around

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Speaker 1: childcare funding. We've got legislation on penalty rates. The pressure though,

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Speaker 1: is now on in a big way on both the

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Speaker 1: Prime Minister right to deliver on what was a huge

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Speaker 1: majority one at the election and that huge mandate that

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Speaker 1: comes and the expectations that really come that you're going

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Speaker 1: to do something good.

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Speaker 2: Right.

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Speaker 1: No one wants to waste a mandate a majority like that.

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Speaker 1: But the pressure is also on in a significant way

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Speaker 1: on Opposition leader Susan Lee to try and kind of

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Speaker 1: unite what is a very very fractured, arguably microscopic coalition

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Speaker 1: and present really a credible opposition here an alternative government.

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Speaker 1: And that is tough when you consider the news.

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Speaker 2: Pole with politics already this tough.

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Speaker 1: When you consider news poll figures this week that showed

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Speaker 1: support for the opposition at its lowest level in four decades,

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Speaker 1: that is forty years. That is forty percent of a century,

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Speaker 1: the best part of half a century. Like that is

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Speaker 1: a long time, right.

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Speaker 2: So it's an exciting part of this story.

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Speaker 1: The exciting part of all is all really everything I've

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Speaker 1: just said. The only way for the coalition at least

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Speaker 1: is up right. It can't go any lower in theory

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Speaker 1: like it's at rock bottom, okay, and now they're at

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Speaker 1: least in parliament there can be It takes the sledging

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Speaker 1: and all the stuff from the party room into Parliament

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Speaker 1: where it needs to be.

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Speaker 2: I mean at least the Nationals. That being nice to okay.

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Speaker 1: The other big political issue that we saw as well

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Speaker 1: the lifting of biosecurity rules around beef imports from the US.

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Speaker 1: That's a very big store and has a very significant

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Speaker 1: impact on the Australian agricultural sector and as Trade Minister

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Speaker 1: Don Farrell insisted that was entirely unrelated to the broader

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Speaker 1: trade discussions with the US.

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Speaker 2: At the moment, which and then did you hear Donald

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Speaker 2: Trump's immediately afterwards? Nothing to do with the trade discussions,

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Speaker 2: then Trump says, for a long time, and even though

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Speaker 2: we are great friends, actually banned our beef. Now we're

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Speaker 2: going to sell so much to Australia because this is

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Speaker 2: undeniable and irrefutably proof with capital p that US beef

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Speaker 2: is the safest and best in the entire world galaxy.

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Speaker 1: It's just so enthusiastic, isn't it.

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Speaker 3: It's really something overdone.

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Speaker 2: It talks about the nation's ranchers, which I really like

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Speaker 2: the word ranchers. Yeah, Trump ranchers.

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Speaker 1: Anyway, so much happening in politics, massive week Parliament sitting.

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Speaker 1: Legislation is in place, there is a lot of pressure.

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Speaker 2: On biislations done in place.

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Speaker 1: It's just been introduced, legislation introduced. Sorry, Sean God, you

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Speaker 1: know what, I would have thought that you would have

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Speaker 1: come back, just like parliament resuming, right, that you were

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Speaker 1: to come back with a bit of renewed kind.

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Speaker 4: Of I haven't been, not me, and really you've come

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Speaker 4: back as a nitpicker. You are come back, yes, from

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Speaker 4: the freedom one on holiday, come back to normal where

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Speaker 4: it's now the three of us back in the studio.

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Speaker 1: Everything. You know, this is going to be fun. There's

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Speaker 1: going to be This kind.

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Speaker 3: Of absence makes the heart grow fonder, say.

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Speaker 2: He doesn't normally makes it wonder we're good? Did we

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Speaker 2: get Come on? Bring back Tim, bring back Giana. Not

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Speaker 2: that you're so perfluous to as Michael. Can't you hear

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Speaker 2: the biggest story of the week. I'll make it quick, right, yep. Economics,

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Speaker 2: interest rates. We all thought we're going to get four

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Speaker 2: into rate cuts this year. Not so sure. Michelle Bullet

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Speaker 2: came out during the week and she said, well that

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Speaker 2: underlying inflation is not falling quite as fast as we thought,

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Speaker 2: and maybe some of those economists got a bit excited

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Speaker 2: about the unemployment rate game of four point three percent,

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Speaker 2: so back off Fellas. What she was really in the

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Speaker 2: message is that the idea that we're going to definitely

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Speaker 2: have three or four rate cuts this year is probably

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Speaker 2: out of line. It doesn't mean we're not going to

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Speaker 2: have rate cuts. I think we will still have rate cuts,

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Speaker 2: But she was just sort of saying things aren't quite

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Speaker 2: as good as people seem to think. The other thing,

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Speaker 2: which she didn't say, And maybe I'm totally making up,

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Speaker 2: but I just think is interesting for the story. Call

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Speaker 2: it opinion, Yeah, call it opinion. I wonder whether she

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Speaker 2: has to do this a bit because the new Reserve

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Speaker 2: Bank Board, the interest rates Setting Board, she doesn't have control.

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Speaker 2: I mean, I don't know that they ever control. I'm

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Speaker 2: sure the other board members had their view, but they'd

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Speaker 2: probably follow the Reserve Bank's core. I think this new

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Speaker 2: interest rate Setting Board is much more independent, and so

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Speaker 2: I think it's harder for Michelle Brook. She has to

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Speaker 2: try to final line. But the bottom line to all this,

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Speaker 2: she has really dampened expectations of three or four interest

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Speaker 2: rate cuts. We will still get some, likely to get

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Speaker 2: some next month, or get one next month at least,

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Speaker 2: but it just has changed the conversation. Very very significant

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Speaker 2: that happened this week, that's affecting all of us. Biggest

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Speaker 2: story of the week over to you at DANSKI.

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Speaker 3: So, Sean ah Dear, it's a typically you know, the

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Speaker 3: minutes got released of the RBA board meeting, and the

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Speaker 3: reporting we had around that was exactly as you say,

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Speaker 3: I think very significant that we were being told to

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Speaker 3: dampen our expectations on the interestrate drops. That's really material. Yes, Michael,

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Speaker 3: I think. Look, we know your zeal for HEX, but

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Speaker 3: you didn't mention that was one of the very important

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Speaker 3: I did. You didn't any of the actual legislation.

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Speaker 2: Bill and you didn't actually mention what they were.

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Speaker 1: Please go back to the tapes when I said big

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Speaker 1: legislation from hextebts to safeguards put around childcare funding through

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Speaker 1: we can go to you shake your head. You know

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Speaker 1: what this you know what? This is proof of Adam Lange.

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Speaker 1: But you are not listening to me when I'm speaking,

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Speaker 1: and therefore.

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Speaker 2: You might be the point.

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Speaker 1: You are judging the point based on you know what

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Speaker 1: this is. This is the equivalent of a murder trial

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Speaker 1: and the judge falling asleep during the key testimony from

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Speaker 1: the main witness. Right, this would be a mistrial. This

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Speaker 1: is a miss That's what this is. This is a

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Speaker 1: travesty of justice and an entirely Please let the judge talk.

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Speaker 3: Yes, twenty production is material, but it wasn't quite the

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Speaker 3: big entry to Parliament that we saw Donald Trump's set

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Speaker 3: when he first got it do you remember those?

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Speaker 1: Yeah, that's not how beachmark.

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Speaker 3: Now, all of those big theatrical books and the big

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Speaker 3: sharpie pen signatures. We didn't get any of that.

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Speaker 2: We wanted that. Yeah, we just got some blake with

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Speaker 2: a rod going bang bang, and that.

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Speaker 3: Was bad ceremony and massive.

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Speaker 1: If the crister did actually do that, what a would

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Speaker 1: just be ridiculed.

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Speaker 3: Please know, Sean wins.

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Speaker 2: See, I think I got lucky there perfectly.

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Speaker 1: Because he wasn't listening. Clean your ears out at him.

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Speaker 1: I said, all that stuff, this.

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Speaker 3: Is nonsense, poppy produced to merit point.

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Speaker 2: Yeah, do it, yes, take the lead of our man,

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Speaker 2: Tim Burrows. Oh and yeah, feel free, feel free, give

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Speaker 2: most remarkable story. Just it's kind of the turnaround in

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Speaker 2: markets is really spectacular. Now, if I was going to

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Speaker 2: say specifically this week, I have examples of that, but

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Speaker 2: really has been going on for longer than that.

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Speaker 3: Now I'm not going to trouble detail.

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Speaker 2: No, that's right. Deals are back. So this week we

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Speaker 2: found out that Insignia Financial has agreed to a three

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Speaker 2: point three billion dollar bid from CC Capital. They told

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Speaker 2: us that on Tuesday. On Monday, they actually came and said, well,

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Speaker 2: you know, talks are on going, but certainly no no

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Speaker 2: guarantees or anything like that. It's share price sold off

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Speaker 2: six percent the next day they said a deal's done.

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Speaker 2: Why they put that thing out on Monday morning? People

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Speaker 2: losing money? I don't know. But the point is a

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Speaker 2: deal's done. We've still got well. We also have doll Rama,

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Speaker 2: Michael's Canadian favorite retailer, dol Rama reject shop this week.

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Speaker 2: This week, we've got of others. You know, Santos is

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Speaker 2: the big one domain still to be consummated, Soul Patsy Boys, Coal,

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Speaker 2: SATs col SATs Cold.

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Speaker 1: The Soul Pats, Joe Biden, Sean anyway, So got these

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Speaker 1: deals going on.

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Speaker 2: I just put my aviated glasses on.

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Speaker 3: Good. Look.

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Speaker 2: The other part of it is through the big switch.

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Speaker 3: It is fair.

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Speaker 2: It's on, like we've talked about it, but you never

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Speaker 2: know whether it's on. But when fortesqu is up thirty

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Speaker 2: percent in a month and Combeth Banks down six percent

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Speaker 2: in the same period, you know investors are switching from

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Speaker 2: banks to minors. B HPN Row were both about fifteen

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Speaker 2: percent for the last month. All the banks are lower

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Speaker 2: except for A and Z. So bringing that together kind

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Speaker 2: of markets is really really interesting. At the moment, it's

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Speaker 2: at an inflection point, and I can accept the the

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Speaker 2: the idea that well, an inflection point takes a month

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Speaker 2: or two months. You see it in hindsight, you see

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Speaker 2: in highsight. But I suspect the Insignia deal being a

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Speaker 2: great example of that, alongside I think confirmation that the

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Speaker 2: big switch from banks to minus is on really quite

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Speaker 2: remarkable week in markets.

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Speaker 1: It was just what I'm not going to fight you.

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Speaker 1: I'm to know.

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Speaker 2: What I never like is when I'm talking and Michael

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Speaker 2: just start coaching.

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Speaker 1: It's like, you know, when you're doing high school debating

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Speaker 1: and you suddenly just start writing all your rebuttals down

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Speaker 1: as you're going.

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Speaker 3: Just running your grocery.

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Speaker 2: Did high school debating? Yes? Did you?

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Speaker 3: Yeah? And you did?

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Speaker 1: Didn't you? Oh? God no, Possibly tell us that you

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Speaker 1: were too cool for debating.

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Speaker 2: I know it's definitely not too cool, but I was

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Speaker 2: just never capable.

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Speaker 3: I didn't do it as an optional like a course

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Speaker 3: or hobby, but you had to do it at certain times.

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Speaker 3: I liked it.

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Speaker 2: Oh nothing, I know.

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Speaker 1: I opted in. Oh boy, stand aside, please, oh look,

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Speaker 1: just a very quick one for me, very very quick.

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Speaker 1: It is remarkable that for the first time since the pandemic.

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Speaker 1: Property prices are increasing, not just here or there and

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Speaker 1: going backwards to you, but they are increasing in every

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Speaker 1: single capital city at the same time, every single one.

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Speaker 1: I could list them for you, please do. Sydney is

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Speaker 1: a capital city. Melbourne is also one of those anyway.

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Speaker 1: But like we've had for so long now this what

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Speaker 1: was a two speed market then a three speed market

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Speaker 1: at different times where we had the mid tier kind

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Speaker 1: of cities that were outperforming and had Sydney kind of

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Speaker 1: puttering along there in the background, and Melbourne going backwards. Now, uh,

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Speaker 1: this is not the case. Now we have growth across

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Speaker 1: the board, the market turbocharged by lower interest rates and

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Speaker 1: the expectation of more perhaps rate cuts to come. Great

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Speaker 1: news for homeowners, not necessarily great news for home buyers,

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Speaker 1: particularly for first home buyers, but is still remarkable. And

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Speaker 1: then at the same time this week we just had

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Speaker 1: so much data this week, didn't we add them coming

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Speaker 1: out about about house price growth and rental values as well?

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Speaker 2: We saw that that feelyn omnibus coming in out. This

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Speaker 2: is just property.

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Speaker 1: This property price is absolutely all tied together. Rental price

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Speaker 1: growth an omnibus. Do you know how many companies and

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Speaker 1: things that you mentioned, and then like five seconds later, oh,

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Speaker 1: hold on, wait a minute, I sent another miscarriage of

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Speaker 1: justice here. Anyway, rental price growth flowing. But the growth

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Speaker 1: that we have seen that has caused this rental crisis

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Speaker 1: in Australia at the moment, the data that came out

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Speaker 1: from Totality through the week that kind of went alongside

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Speaker 1: all of that house price data from Domain. But the

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Speaker 1: rental data shows that people are paying on average about

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Speaker 1: ten thousand dollars a year more than the pre COVID

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Speaker 1: price for the same rental, which is just staggering. That

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Speaker 1: increased stagulantly. It is starting to slow. No theater, no drama, Okay, hard.

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Speaker 2: For you not to do the theater the drama. You

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Speaker 2: probably can't. Well, no one can see Michael, but his

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Speaker 2: arms are waving feraciously while his voice is sort of

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Speaker 2: in a focused, almost monotone.

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Speaker 1: But I'm having to I'm really having to stop myself.

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Speaker 1: But because in the end.

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Speaker 3: You see a tear just well up in your eye.

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Speaker 1: It's true emotion. I feel this deeply, and I trust

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Speaker 1: that you will too.

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Speaker 3: Twenty five points. It's not a perfect score. Sean Sandy Mack.

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Speaker 3: You did that interview a couple of weeks ago now

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Speaker 3: about the nature of deals, mergers acquisitions. She's, as you were,

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Speaker 3: talking about the number of deals happening. A lot of

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Speaker 3: what she was saying and seeing rang true, and it

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Speaker 3: is happening. It's absolutely significant. So God, you're wondering about

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Speaker 3: all the challenge does we have, and yet there's this

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Speaker 3: real appetite to invest money. It's it's spectacular on a

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Speaker 3: business sense. Property prices for me have to win. And

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Speaker 3: really the clincher was a stat that you brought out

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Speaker 3: this week, shown around that ten thousand dollars that Michael

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Speaker 3: cited the extra in rent compared to pre.

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Speaker 2: COVID part of his main story. He just added that

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Speaker 2: at the end. But going doesn't matter what it was

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Speaker 2: when you.

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Speaker 3: Put it like in ten large, right post tax large,

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Speaker 3: the people are going to have Oudam, You're just going

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Speaker 3: to have to there. But the nature of just having

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Speaker 3: to come up with ten thousand dollars additionally after tax

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Speaker 3: every year just to support somewhere to live the same

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Speaker 3: place that you had five years ago, that's extraordinary and

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Speaker 3: it is I think the singles single biggest issue for

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Speaker 3: our country in terms of the next generation productivity and

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Speaker 3: so on. So I'm going to keep banging on about

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Speaker 3: that one. You've You've pickedure Mark, Well, Michael, you win.

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Speaker 2: Well done. I think it's a good loss for me though,

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Speaker 2: because it was like a disaster.

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Speaker 1: No, unlike my politics one.

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Speaker 2: Well, I mean, you'll it'll only be one point in it,

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Speaker 2: so it doesn't.

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Speaker 3: But I've changed more than one.

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Speaker 1: I cannot wait for you to listen back to this.

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Speaker 1: And oh my god, he was right. He did talk

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Speaker 1: about hextead, he did talk about this.

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Speaker 2: I remember it.

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Speaker 1: You know what this is. You know what this is.

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Speaker 1: This is professional gas lighting. Right now, you are trying

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Speaker 1: to convince me that I didn't say something that I

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Speaker 1: know I said, and I have proof.

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Speaker 2: You know what gas lighting is.

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Speaker 1: Yeah, you are now kind of presient. The good thing

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Speaker 1: is narrative and insists I'm not going on about anything.

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Speaker 1: We're going to take a break. We're going to come

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Speaker 1: back in a second and do the mystery category.

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Speaker 2: And don't laugh.

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Speaker 1: You need to settle yourself. We'll be back in a second,

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Speaker 1: all right, Sean. We have our mystery category now when

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Speaker 1: that changes every week, just to keep Adam guessing and

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Speaker 1: us guessing, really it is. Today's is an interesting one.

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Speaker 3: The category that's.

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Speaker 2: Ripping Today's is great. It's like the old slipper category.

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Speaker 2: There's not so much in this. This is predicting the

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Speaker 2: future over to you, Michael.

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Speaker 1: Today is stories that haven't happened yet. Okay, because too

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Speaker 1: often you criticize our stories for like, well, really you're

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Speaker 1: talking about something that hasn't happened yet or something along.

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Speaker 2: Those having ages ago, what are you talking about it

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Speaker 2: now for?

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Speaker 1: And so what we're doing here is essentially stories that

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Speaker 1: haven't happened. So you can't can't make a gestion.

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Speaker 2: At the top of the show, you mentioned that we

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Speaker 2: had guest judges on and Adam stepped up and like

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Speaker 2: for the three weeks that he did it, he won one,

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Speaker 2: he won none of them, right, one out of three?

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Speaker 2: Can we make Can we perhaps just to have a

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Speaker 2: weekend edition Adam competes with himself and you are away

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Speaker 2: the judge.

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Speaker 3: Well, I write both sides of the story, now, both.

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Speaker 2: Stories, so you've got great stories. Came on and we'll

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Speaker 2: give that. We'll say, you know Adam number one, Yes,

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Speaker 2: at number two, and.

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Speaker 1: The first the first of a weekend edition with no

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Speaker 1: winner demera points for both the anyway, Okay, so future

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Speaker 1: stories really stories. It haven't happened yet. I will go first, right,

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Speaker 1: The UK has moved to lower the voting age from

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Speaker 1: eighteen to sixteen. Now it hasn't happened yet. Technically, if

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Speaker 1: the legislation has passed, it will take effect in time

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Speaker 1: for the election in around twenty twenty nine. The changes

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Speaker 1: are designed to boost participation and boost trust in the

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Speaker 1: electoral system. There was it had its lowest turnout in

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Speaker 1: kind of a couple of decades at the general election

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Speaker 1: last year. I quite liked what the UK Prime Minister

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Speaker 1: Kirs Starmer said about it, where he said they're old

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Speaker 1: enough to go out to work, they're old enough to

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Speaker 1: pay tax. Is if you pay in you should have

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Speaker 1: the opportunity to say what you want your money spent

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Speaker 1: on which way the government should go. It does make

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Speaker 1: it does make a reasonable amount of sense. But but

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Speaker 1: but the question here is are we going to now

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Speaker 1: see an increased push in Australia for the same thing,

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Speaker 1: Because obviously we take a lot of what the UK does,

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Speaker 1: and we do it here. We basically everything we do

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Speaker 1: is based on every.

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Speaker 3: System of government.

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Speaker 1: Stands to reason that lowering the voting age there might

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Speaker 1: lead to a similar debate here. And there's a lot

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Speaker 1: of these arguments that it gets people engaged earlier. It's

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Speaker 1: a future story. Can't mark me down for an excessive

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Speaker 1: number of mites. And perhaps and maybe it gets young

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Speaker 1: people engaged earlier, gives them a say, particularly those who

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Speaker 1: are politically active. That's okay in the UK, where voting

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Speaker 1: is not compulsory, right, so it's just then the engaged

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Speaker 1: ones who are going to have their say. Does that

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Speaker 1: work in Australia though, where we would essentially be forcing

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Speaker 1: disengaged sixteen year olds and seventeen year olds to vote,

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Speaker 1: right when they are not necessarily interesting.

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Speaker 2: If you're sixten and seventeen, right, yeah, you're disengaged. I

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Speaker 2: mean the engaged sixthen and seventeen year olds you don't

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Speaker 2: want to vote because they're obviously very radical.

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Speaker 1: So can you imagine, right, can you imagine if you

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Speaker 1: forced young people, young sixteen seventeen year olds in Australia

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Speaker 1: just how bad the coalitions and newspole figures would be

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Speaker 1: there would be?

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Speaker 4: Then?

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Speaker 1: Right, it's just an absolute tanking. This is a perfect

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Speaker 1: future story because what happens in the UK often happens here.

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Speaker 1: It is going to happen in the UK. So it's

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Speaker 1: already big, big, big tick for that one is the

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Speaker 1: future story. But the potential for it to happen here

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Speaker 1: just adds a real local element to it, and it

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Speaker 1: could change the very fabric of Australian democracy.

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Speaker 2: Excellent. It might have been an overreach, could have but

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Speaker 2: doesn't matter. It doesn't matter because my future story it

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Speaker 2: actually comes from a survey that came out this week

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Speaker 2: and from the Central for International Economics. Oh I love

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Speaker 2: how a good start, good start.

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Speaker 1: Suddenly this has credibility strong reference.

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Speaker 2: By twenty thirty five, they forecast that forty three percent

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Speaker 2: of cars on Australian roads or new vehicles will be

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Speaker 2: sold by Chinese companies. Ten years ago, it was zero.

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Speaker 2: In ten years time, forty three percent. Japanese car makers

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Speaker 2: are the dominant variety thirty two percent at the moment

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Speaker 2: they expect to go back to twenty twenty twenty two percent.

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Speaker 2: What's really important is that Chinese car makers are big

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Speaker 2: into evs. So you think byd Geely Cherry, those sorts

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Speaker 2: of organizations they have been able to infiltrate Australian market,

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Speaker 2: European markets, in the US market. Michael made the point

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Speaker 2: during the week.

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Speaker 1: It was a great point.

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Speaker 2: It was a great point, but let's move on.

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Speaker 1: It was about the fact that at the moment you

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Speaker 1: can actually go out into the street and for the

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Speaker 1: first time that I can remember, you can actually be

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Speaker 1: surprised by the brands that you're seeing, that you will

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Speaker 1: see I've never seen this before, and all of a

441
00:23:24,080 --> 00:23:25,639
Speaker 1: sudden you see a stack of them because there is

442
00:23:25,680 --> 00:23:29,320
Speaker 1: this influx of new car makes and models coming into

443
00:23:29,359 --> 00:23:32,120
Speaker 1: Australia that with the likes of which we have not seen.

444
00:23:32,840 --> 00:23:36,399
Speaker 2: There are twenty three Chinese brands here or plan to

445
00:23:36,440 --> 00:23:40,320
Speaker 2: be here, and I could name four or five of them.

446
00:23:40,960 --> 00:23:45,560
Speaker 2: So quite incredible that in ten years time the bulk

447
00:23:45,600 --> 00:23:47,360
Speaker 2: well not the bulk, but nearly the bulk of new

448
00:23:47,400 --> 00:23:51,000
Speaker 2: cars being sold Chinese brands. Now that's a long long

449
00:23:51,040 --> 00:23:58,399
Speaker 2: way from meat pies, Kangaroo's football Meati car. And probably

450
00:23:58,400 --> 00:24:00,000
Speaker 2: the last time that we had this shift was really

451
00:24:00,080 --> 00:24:04,720
Speaker 2: when the Japanese makers Toyota particularly overtook and Mazda overtook

452
00:24:05,960 --> 00:24:07,160
Speaker 2: GM General Matters Holden.

453
00:24:07,440 --> 00:24:10,520
Speaker 3: I remember the proud Niss and Cedric. That's a little badge.

454
00:24:10,680 --> 00:24:14,119
Speaker 3: They weren't exactly welcomed, you know, they weren't big in

455
00:24:14,160 --> 00:24:15,399
Speaker 3: their adoption early on.

456
00:24:15,640 --> 00:24:18,440
Speaker 2: But jeez, they did well. The Death's in one oh great,

457
00:24:19,080 --> 00:24:23,879
Speaker 2: the deaths and anyone anyway, So future story. Just the

458
00:24:23,920 --> 00:24:29,199
Speaker 2: dominance of Chinese car makers in this country pretty remarkable.

459
00:24:28,720 --> 00:24:32,880
Speaker 3: So much in that. And you know the the internationalization

460
00:24:32,960 --> 00:24:33,919
Speaker 3: of car manufacture.

461
00:24:34,000 --> 00:24:35,200
Speaker 2: Oh I love that part of it.

462
00:24:35,280 --> 00:24:39,919
Speaker 3: Well, I picked that up, yeah, as the lines because

463
00:24:39,920 --> 00:24:43,200
Speaker 3: it was we do see it. It's visceral. And we've

464
00:24:43,200 --> 00:24:46,919
Speaker 3: got this infrastructure problem and this migration to clean energy,

465
00:24:47,400 --> 00:24:50,639
Speaker 3: and in fact, you both are driving some electronic or

466
00:24:50,640 --> 00:24:54,879
Speaker 3: electric vehicles as we speak. We are trailing out some

467
00:24:54,920 --> 00:24:58,719
Speaker 3: lovely new volkswagons that will not bias this decision. However,

468
00:24:59,160 --> 00:25:01,840
Speaker 3: Gosh that fast voting wins.

469
00:25:03,440 --> 00:25:07,320
Speaker 2: So this in the UK look as any ridiculous decision.

470
00:25:07,520 --> 00:25:12,040
Speaker 3: As we get older, hopefully hopefully as we get you

471
00:25:12,119 --> 00:25:15,520
Speaker 3: and I Sean Michael much later, as we get to

472
00:25:15,560 --> 00:25:19,680
Speaker 3: our more mature years and retire, and we're not earning right,

473
00:25:19,840 --> 00:25:22,639
Speaker 3: and someone's going to have to pay these taxes that

474
00:25:22,720 --> 00:25:26,000
Speaker 3: support our life and our health needs. And we need

475
00:25:26,040 --> 00:25:30,320
Speaker 3: more and more people earning money earlier basically, so if

476
00:25:30,320 --> 00:25:33,000
Speaker 3: they are doing so, they should have the right to

477
00:25:33,080 --> 00:25:36,320
Speaker 3: vote and counterbalance the people are just sitting back and collecting.

478
00:25:36,840 --> 00:25:39,120
Speaker 3: So I love this idea. I think it's very important

479
00:25:39,160 --> 00:25:40,040
Speaker 3: and it would be healthy.

480
00:25:40,280 --> 00:25:42,720
Speaker 1: Did you know that the Volkswagen that I'm driving has

481
00:25:42,720 --> 00:25:45,360
Speaker 1: a massage seat.

482
00:25:46,000 --> 00:25:48,639
Speaker 3: Michael told me how to use it, and I'm going

483
00:25:48,720 --> 00:25:52,000
Speaker 3: to get a little more celebration Michael as you want.

484
00:25:52,440 --> 00:25:54,399
Speaker 2: Oh no, no, no, I think it's a dumb decision. And

485
00:25:54,480 --> 00:25:58,320
Speaker 2: you're used to the word visceral once again, was incorrect.

486
00:25:59,280 --> 00:26:02,600
Speaker 2: It's one of adams favorite words. It's visceral. Disagree And

487
00:26:02,640 --> 00:26:04,920
Speaker 2: what's viscral? Like deep viscerals that are deep inward?

488
00:26:05,040 --> 00:26:07,040
Speaker 3: You describe something and you can picture it.

489
00:26:07,320 --> 00:26:10,320
Speaker 2: No, that's no, no, no, you can feel it. You

490
00:26:10,440 --> 00:26:13,639
Speaker 2: use it as a picture thing, Adam. It's actually a feeling.

491
00:26:13,680 --> 00:26:14,840
Speaker 2: That's what viscral is.

492
00:26:16,080 --> 00:26:23,639
Speaker 3: So anyway, what's the definition for the word pedant? What

493
00:26:23,680 --> 00:26:24,119
Speaker 3: I said?

494
00:26:25,400 --> 00:26:28,000
Speaker 2: There's two words pedant, Adam Lang.

495
00:26:27,840 --> 00:26:32,080
Speaker 1: When he's now nitpicker like you're seeing it right now,

496
00:26:32,119 --> 00:26:33,840
Speaker 1: you are feeling it. You need to spend some.

497
00:26:33,840 --> 00:26:39,720
Speaker 2: More favorite story. I'm over the shade this morning. I

498
00:26:39,840 --> 00:26:46,359
Speaker 2: just like you have made three poor decisions. The first

499
00:26:46,359 --> 00:26:49,520
Speaker 2: one Parliament should have won. I won. The second one,

500
00:26:49,600 --> 00:26:51,560
Speaker 2: can't remember, but I lost.

501
00:26:52,160 --> 00:26:55,040
Speaker 3: What I laughed, John, is the way you embrace diversity

502
00:26:55,080 --> 00:26:55,760
Speaker 3: of views.

503
00:26:55,880 --> 00:26:56,800
Speaker 2: I'm angry this morning.

504
00:26:56,840 --> 00:26:57,560
Speaker 3: I'm really angry.

505
00:26:58,359 --> 00:27:02,639
Speaker 1: Now let's wrap closer to Adam.

506
00:27:03,440 --> 00:27:05,520
Speaker 2: I'm liking the trade deals that are going on at

507
00:27:05,560 --> 00:27:07,640
Speaker 2: the moment. I wish we didn't have to have them.

508
00:27:07,880 --> 00:27:11,920
Speaker 2: But the tariff, well, it's more than that, because Australia

509
00:27:11,920 --> 00:27:14,600
Speaker 2: in the UK signed a new fifty year treaty underpinning

510
00:27:14,600 --> 00:27:16,919
Speaker 2: cooperation on the New York Nuclear Power's a marine that

511
00:27:17,000 --> 00:27:22,800
Speaker 2: happened yesterday. On Friday. We had the beef deal, so

512
00:27:22,880 --> 00:27:25,080
Speaker 2: to speak, with the US. We had the US, Japan

513
00:27:25,320 --> 00:27:28,360
Speaker 2: and Japan doing a trade deal, with Donald Trump saying

514
00:27:28,400 --> 00:27:30,760
Speaker 2: it will result in five hundred and fifty billion US

515
00:27:30,800 --> 00:27:35,560
Speaker 2: dollars of investment from Japan into the US. We also

516
00:27:35,600 --> 00:27:39,840
Speaker 2: had deals with the Philippines announced this week. We've had Britain, Vietnam, Indo, China,

517
00:27:40,040 --> 00:27:42,240
Speaker 2: EU is a big one, so coming. Canada is a

518
00:27:42,240 --> 00:27:45,280
Speaker 2: big one for the US and Mexico. We were just

519
00:27:45,280 --> 00:27:48,040
Speaker 2: getting a bunch of trade deals done. Now I wish

520
00:27:48,040 --> 00:27:49,399
Speaker 2: we didn't have to have them. Done. But if we

521
00:27:49,480 --> 00:27:52,280
Speaker 2: have to have them done, this is good. This is

522
00:27:52,320 --> 00:27:56,119
Speaker 2: actually very good. So my favorite story of the week

523
00:27:56,240 --> 00:27:58,960
Speaker 2: is at least the deals are being done. Australia hasn't

524
00:27:58,960 --> 00:28:01,399
Speaker 2: done a deal yet. We heard this week that Donald

525
00:28:01,400 --> 00:28:05,400
Speaker 2: Tariff and Donald Tariff there we go like that Donald

526
00:28:05,560 --> 00:28:08,040
Speaker 2: Tariff Trump said that if you don't get a deal,

527
00:28:08,119 --> 00:28:10,520
Speaker 2: you get fifteen percent, which is higher than Australia's ten percent.

528
00:28:10,680 --> 00:28:12,639
Speaker 2: So that ain't good for us. But at least deals

529
00:28:12,640 --> 00:28:16,439
Speaker 2: are getting done. And Donald Trump loves the fact that

530
00:28:16,520 --> 00:28:21,280
Speaker 2: he's ranchers can sell beef into Australia. Favorite story, Michael, that.

531
00:28:21,359 --> 00:28:23,200
Speaker 1: Is a very good story, and a very worthy story

532
00:28:23,200 --> 00:28:26,960
Speaker 1: and has a very large global impact. But I have

533
00:28:27,119 --> 00:28:27,800
Speaker 1: saved this.

534
00:28:27,680 --> 00:28:28,400
Speaker 3: Story up.

535
00:28:30,520 --> 00:28:33,400
Speaker 1: Just for a couple of old fossils like you too,

536
00:28:35,000 --> 00:28:38,160
Speaker 1: very good. I love a good auction, right, I think

537
00:28:38,200 --> 00:28:41,200
Speaker 1: we all appreciate a good auction, and I love it

538
00:28:41,200 --> 00:28:43,520
Speaker 1: even more than what is being auctioned is one hundred

539
00:28:43,520 --> 00:28:49,360
Speaker 1: and fifty million years old, the fossil of a juvenile Serratosaurus,

540
00:28:50,600 --> 00:28:54,040
Speaker 1: which is the only juvenile ever discovered, one of only

541
00:28:54,160 --> 00:28:58,880
Speaker 1: four complete Seratosaurus fossils ever found, and according to a

542
00:28:59,120 --> 00:29:05,080
Speaker 1: YouTube video that I watched the most underrated Jurassic carnivore ever.

543
00:29:06,280 --> 00:29:09,880
Speaker 1: Underrated because everyone pays attention to the t rex and

544
00:29:09,920 --> 00:29:12,720
Speaker 1: the raptor because of Jurassic Park. And it looks like

545
00:29:12,800 --> 00:29:18,000
Speaker 1: it's about the same size as the movie interpretation of

546
00:29:18,040 --> 00:29:21,080
Speaker 1: a velociraptor. You've seen Jurassic Park, right, Okay, so it

547
00:29:21,080 --> 00:29:22,800
Speaker 1: looks like it's about the same as that. But these

548
00:29:22,800 --> 00:29:26,840
Speaker 1: things were absolutely ferocious, right, this is incredible teeth and

549
00:29:27,480 --> 00:29:30,520
Speaker 1: as you talked about Shawn through the week, a nasal horn,

550
00:29:30,880 --> 00:29:35,200
Speaker 1: which is indeed, and so look it is underrated, yes,

551
00:29:35,520 --> 00:29:41,880
Speaker 1: but clearly clearly Old mate Bones here has a few fans, right,

552
00:29:42,200 --> 00:29:44,080
Speaker 1: he got it.

553
00:29:43,960 --> 00:29:47,200
Speaker 2: Was expected to go, Old mate Bones.

554
00:29:47,400 --> 00:29:49,520
Speaker 1: Yeah, the surround a saurus. I can't keep calling him

555
00:29:49,520 --> 00:29:51,719
Speaker 1: the juveniles forratasaurus. No, he's got to have a name.

556
00:29:51,800 --> 00:29:55,440
Speaker 1: Let's call him mate. Oh mate, oh mate, old mate Bones.

557
00:29:55,280 --> 00:29:58,800
Speaker 2: Right, suffices for a lot of things, old mate, he does.

558
00:29:59,240 --> 00:29:59,440
Speaker 3: So.

559
00:29:59,440 --> 00:30:03,800
Speaker 1: So job's was auctioning the skeleton off. I watched the video.

560
00:30:03,840 --> 00:30:06,840
Speaker 1: I spent a lot of time in this story. I

561
00:30:06,920 --> 00:30:11,840
Speaker 1: watched the auction right the video online. It is so cool.

562
00:30:12,320 --> 00:30:16,680
Speaker 1: They start They opened the bidding at three million dollars okay,

563
00:30:16,720 --> 00:30:19,080
Speaker 1: oh wow. Yeah, they were only expecting it to go

564
00:30:19,200 --> 00:30:22,440
Speaker 1: for somewhere between three to five million. And they were

565
00:30:22,480 --> 00:30:25,720
Speaker 1: having bids from inside the room. They had bids on

566
00:30:25,760 --> 00:30:28,440
Speaker 1: the phone, they had bids online. It was awesome. It

567
00:30:28,480 --> 00:30:31,720
Speaker 1: was all coming in and the excitement. I took six

568
00:30:31,720 --> 00:30:33,480
Speaker 1: minutes or something to Yeah, it was only a few minutes.

569
00:30:33,720 --> 00:30:38,560
Speaker 1: It was really really it was the most exciting dinosaur

570
00:30:38,640 --> 00:30:42,200
Speaker 1: video since Jurassic Park. Honestly, I tell you, I'm not exaggerating.

571
00:30:42,680 --> 00:30:45,760
Speaker 1: Started at three million dollars, ended up at twenty six million. Then,

572
00:30:45,760 --> 00:30:48,160
Speaker 1: plus the fees and the premium et cetera they have

573
00:30:48,200 --> 00:30:52,240
Speaker 1: to pay, it was thirty point five million US dollars

574
00:30:52,480 --> 00:30:55,520
Speaker 1: for this one fossil, which I think is just incredible.

575
00:30:55,640 --> 00:30:58,880
Speaker 1: And in that same sale. Can you imagine being at

576
00:30:58,880 --> 00:31:02,200
Speaker 1: this auction. I suspect other people would be just as

577
00:31:02,240 --> 00:31:04,520
Speaker 1: excited as I am to know that there was also

578
00:31:05,040 --> 00:31:09,520
Speaker 1: a meteorite sold in this same auction, which was the

579
00:31:09,640 --> 00:31:14,680
Speaker 1: largest piece of Mars ever found on Earth. How much

580
00:31:14,840 --> 00:31:18,760
Speaker 1: itself about five million? Wow, which is awesome. And the

581
00:31:18,880 --> 00:31:20,480
Speaker 1: questions over how on Earth?

582
00:31:20,960 --> 00:31:24,480
Speaker 2: Some enthusiasm from Michael how did it get here? Right?

583
00:31:24,520 --> 00:31:28,280
Speaker 1: How did it get from Mars to Earth like has

584
00:31:28,280 --> 00:31:31,720
Speaker 1: it been and knocked off? And how do we know

585
00:31:31,800 --> 00:31:33,440
Speaker 1: that it came from Mars? There are so many questions,

586
00:31:33,480 --> 00:31:34,960
Speaker 1: but clearly, I mean, it was old to Southby, so

587
00:31:34,960 --> 00:31:37,280
Speaker 1: there must be some kind of credibility to the story.

588
00:31:38,000 --> 00:31:39,760
Speaker 2: What's the word on five point.

589
00:31:39,600 --> 00:31:44,240
Speaker 1: Three million US dollars for that one? Back to the dinosaurs,

590
00:31:44,640 --> 00:31:47,560
Speaker 1: Southurby's also sold. Would you believe the most expensive dinosaur

591
00:31:47,560 --> 00:31:49,840
Speaker 1: fossil ever a stegosaurus last year?

592
00:31:50,960 --> 00:31:51,600
Speaker 3: Yeah? Whole one?

593
00:31:51,760 --> 00:31:55,000
Speaker 1: Yeah, forty four point six million US dollars in July

594
00:31:55,080 --> 00:31:55,440
Speaker 1: last year.

595
00:31:55,440 --> 00:31:57,240
Speaker 2: You got to do it like this is get out

596
00:31:57,240 --> 00:31:57,640
Speaker 2: of control?

597
00:31:57,720 --> 00:31:57,959
Speaker 3: No, no, no.

598
00:31:58,480 --> 00:32:01,720
Speaker 1: What it says is the dinosa and fossils are an

599
00:32:01,760 --> 00:32:04,600
Speaker 1: asset class that we need to pay more attention to.

600
00:32:05,680 --> 00:32:09,360
Speaker 1: Forget at home, Forget fossil fuels. I'm going straight to

601
00:32:09,400 --> 00:32:12,800
Speaker 1: the source here. I want to know about fossils.

602
00:32:12,840 --> 00:32:15,360
Speaker 2: I want to know that I remember the word is

603
00:32:15,920 --> 00:32:16,720
Speaker 2: it the prominence?

604
00:32:17,040 --> 00:32:17,240
Speaker 3: Yes?

605
00:32:17,680 --> 00:32:22,160
Speaker 2: The proverb of the asteroid from Mars? A bit about that?

606
00:32:22,200 --> 00:32:26,680
Speaker 2: Oldn't mind mind about this? What's the word of saurus?

607
00:32:27,000 --> 00:32:28,720
Speaker 2: Of saurus? I don't know the providence of that? I

608
00:32:28,800 --> 00:32:29,320
Speaker 2: had we know?

609
00:32:29,760 --> 00:32:41,080
Speaker 3: Yeah, Old made bones revenance Okay, Trump deals cause so

610
00:32:41,640 --> 00:32:47,160
Speaker 3: much uncertainty and so yeah. But the fact that now

611
00:32:47,200 --> 00:32:50,280
Speaker 3: we are getting some certainty, including these deals, is bring

612
00:32:50,360 --> 00:32:52,600
Speaker 3: such peace of mind and productivity. I love it. It

613
00:32:52,680 --> 00:32:58,040
Speaker 3: wins great story on the bones. But no, I'm going

614
00:32:58,040 --> 00:32:58,280
Speaker 3: to go.

615
00:32:58,320 --> 00:32:59,880
Speaker 2: Four from four and I want to.

616
00:33:00,080 --> 00:33:03,840
Speaker 1: Of them what was the overall? So hang on which

617
00:33:03,880 --> 00:33:05,960
Speaker 1: two each? It's going to come down to the points.

618
00:33:06,480 --> 00:33:08,520
Speaker 1: I don't think this is going to be my favorite here.

619
00:33:08,600 --> 00:33:12,280
Speaker 3: Oh okay, so I've taken on a new sort of harshness,

620
00:33:12,840 --> 00:33:17,480
Speaker 3: not not complete change, but you know eighty nine Sean

621
00:33:17,560 --> 00:33:24,080
Speaker 3: Aylmer eighty five points. Michael Thompson eighty eighth.

622
00:33:24,480 --> 00:33:26,880
Speaker 2: Well that's a landslide slide.

623
00:33:27,000 --> 00:33:29,840
Speaker 1: You could fit a bloody meteorite in that gap.

624
00:33:29,960 --> 00:33:33,840
Speaker 2: That is huge. Anyone who hasn't seen the Donald Trump J.

625
00:33:34,080 --> 00:33:38,520
Speaker 2: Powell video from yesterday really worth it. Donald Trump set

626
00:33:38,840 --> 00:33:42,480
Speaker 2: Jerome Powell up at the Federal Reserve. Oh and you

627
00:33:42,560 --> 00:33:45,320
Speaker 2: just see Jerome Pell shaking his head like what the

628
00:33:45,400 --> 00:33:47,680
Speaker 2: hell are you talking about? It's quite depending on which

629
00:33:47,680 --> 00:33:48,320
Speaker 2: side you're on.

630
00:33:48,560 --> 00:33:51,600
Speaker 3: It does tell a story, doesn't it.

631
00:33:51,600 --> 00:33:55,360
Speaker 1: It's worth watching. Okay, good good competition, great debate.

632
00:33:55,480 --> 00:33:56,120
Speaker 3: Thank you very much.

633
00:33:56,120 --> 00:33:59,000
Speaker 2: Sean thank you well, thank you, Michael. I'm not sure

634
00:33:59,000 --> 00:33:59,680
Speaker 2: about Adam, but.

635
00:34:00,760 --> 00:34:03,320
Speaker 3: Thanks for grudging recognition to Adam. Thank you, Michael.

636
00:34:03,360 --> 00:34:05,920
Speaker 1: Thank you very much. Adam. Don't forget to follow us

637
00:34:06,160 --> 00:34:10,320
Speaker 1: online as well. Follow the podcast, join us online, LinkedIn, Instagram, TikTok,

638
00:34:10,320 --> 00:34:12,160
Speaker 1: Facebook and ex our Michael Thompson that was Fear and

639
00:34:12,200 --> 00:34:13,400
Speaker 1: Greed had a great weekend.