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Speaker 1: Digging through the spin spens to find the real story.

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Speaker 1: Or it's Ryan Bridge on Heather dupless Ellen drive with

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Speaker 1: one New Zealand, let's get connected and News talks'b good afternoon.

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Speaker 2: It is seven after four. News Talks heb David Seymour

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Speaker 2: and his bill as it gets bimmed and will keep

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Speaker 2: you across whatever happens in the house this afternoon. We

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Speaker 2: also speak to David Mahn. He's the guy that John

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Speaker 2: Key calls when he goes to China for analysis. Smart

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Speaker 2: guy Kiwi who's lived there for thirty years. His reaction

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Speaker 2: to the trade war between the Big two, Kerry McNulty's

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Speaker 2: sensible booze bill. We'll talk about that, plus who's to

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Speaker 2: blame for our mental kids and their phone addictions? TikTok

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Speaker 2: or you the parent Cryan Bridge Trump's tariff back down

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Speaker 2: if that's what you want to call it, and I

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Speaker 2: know there'll be many definitions, but that's what I'm calling It.

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Speaker 2: Proves that Nikola was right and Barbara yesterday was wrong.

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Speaker 2: Willis took the cool, calm, collected approach. Takes some advice.

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Speaker 2: Watch closely, don't react with haste, don't spook the horses,

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Speaker 2: even more. Trump's already doing that. Barbara Edmonds and Labor

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Speaker 2: were hitting the panic alarm yesterday afternoon, firing off a

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Speaker 2: press release. This is a crisis. We need to up spending,

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Speaker 2: read between the lines, borrow more. Bigger government will save

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Speaker 2: the day, which is of course nuts, premature and nuts.

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Speaker 2: Barbara came on this show last night and said Willis

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Speaker 2: was sitting on her hands while basically the world crumbled

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Speaker 2: around her. Earlier in the week, Hipkins said we needed

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Speaker 2: to stand up to Trump a bit more. How's that

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Speaker 2: working out for China. The last thing we need is

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Speaker 2: self serving politicians or former politicians in the form of

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Speaker 2: Phil goth grand standing for their bash the bully moment

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Speaker 2: on television. This is the time for quiet diplomacy. It's

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Speaker 2: time for your Winston's and your Rosemary Banks. She's our

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Speaker 2: ambassador to Washington. Get them out there. The bigger problem

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Speaker 2: for Labor and the way that they've so far reacted

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Speaker 2: is that it reminds us why we didn't like them

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Speaker 2: in the first place. When COVID hit, they doled out

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Speaker 2: the cash, couldn't get it out the door fast enough.

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Speaker 2: You know, stay home, save lives, do yoga. We'll pay

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Speaker 2: for your yoga mat grants spent from the country's purse

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Speaker 2: like a housewife on holiday, and barb she wants her

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Speaker 2: time with the visa. Right when our government dead is

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Speaker 2: about to hit forty six percent of GDP. Remember it

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Speaker 2: was twenty pre labor, right when we getting closer to

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Speaker 2: at least balancing the government books. This is a timely

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Speaker 2: reminder from labor that their fundamentals haven't changed. When a

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Speaker 2: crisis comes, when the storm clouds gather, their go to

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Speaker 2: plan is to make it.

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Speaker 3: Rain, cash, cry and bridge nine.

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Speaker 2: After four news talks, there'd be so investors you'd be

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Speaker 2: forgiven for complaining about whiplash. After this morning's huge U

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Speaker 2: turn from Donald Trump, markets around the world made huge

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Speaker 2: jumps this after Trump announced a ninety day free he's

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Speaker 2: for all announced tariffs except for China.

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Speaker 4: Well, I thought that people were jumping a little bit

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Speaker 4: out of line.

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Speaker 5: They were getting yippie.

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Speaker 4: You know, they're getting a little bit yippy, a little

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Speaker 4: bit afraid.

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Speaker 2: Scott Shelby is a US market analyst with me now, Hi, Scott.

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Speaker 6: Thanks for having me on. Looking forward to it. As

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Speaker 6: you can imagine, pretty busy day today.

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Speaker 2: Tell me what you think false Trump's hand.

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Speaker 6: Well, I think I think the Treasury Secretary is kind

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Speaker 6: of taking the lead role on this. Scott Passant. I

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Speaker 6: don't know if you know if Scott Passant, but he

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Speaker 6: used to work with George Soros and Stanley Drugger Miller,

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Speaker 6: the quantum fun guys. He's very, very smart. He's a

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Speaker 6: fantastic markets guy. And when he saw that tendor yields

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Speaker 6: fight this morning, like a lot of us, you know,

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Speaker 6: it was only a couple three days ago, but that

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Speaker 6: senior yield here was around three eighty five and then

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Speaker 6: spike close to well, I think the hive today was

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Speaker 6: four fifty one. And when he saw that, I think

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Speaker 6: then when he'd have yields spiking at the same time

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Speaker 6: a lot of volatility and equities and a lot of

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Speaker 6: volatility to the downside of equities, he run the risk

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Speaker 6: of breaking something. So I think that there was a

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Speaker 6: little bit of pressure there. A couple of days ago,

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Speaker 6: Best in Scott Best and our Turgury second, they flew

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Speaker 6: down to mar Lago from Washington and rode back in

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Speaker 6: Air Force one with Trump. I think he had his

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Speaker 6: ear for that one, and so I think there were

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Speaker 6: some There were some genuine moves on Trump's behalf that

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Speaker 6: I think we're planned. I think it's fair to say

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Speaker 6: that when he put the ten percent are ofstan but

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Speaker 6: he had much higher rates on some other countries, to

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Speaker 6: have them stand in line to try to do a

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Speaker 6: deal with them while he was still tariffing them is

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Speaker 6: not fair. So I think that that ninety day pauses

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Speaker 6: because of the amount of deals that he's going to

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Speaker 6: have to be cutting in the next ninety days from

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Speaker 6: you know, the reports are seventy five countries want to

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Speaker 6: want to cut a deal with them in some way,

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Speaker 6: so it's going to be hard to get to all

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Speaker 6: those people in a short period of time so they

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Speaker 6: wouldn't be hurt with tariff. So I think the ninety

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Speaker 6: day pauses so that he can get through the backlog

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Speaker 6: of countries. At least they said that they want to

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Speaker 6: do a deal. And I also think that he was

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Speaker 6: pretty masterful and putting China in a corner, so all

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Speaker 6: those things kind of played into it. You don't see

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Speaker 6: a lot of Peter and Navarral, you don't see a

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Speaker 6: lot of Howard lutt next week in the Commerce Secretary,

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Speaker 6: it's all Scott Passett and I think he's doing a

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Speaker 6: pretty good job with the president, and over the last

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Speaker 6: forty eight hours his stock is fine. For sure.

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Speaker 2: Obviously, the yields go up when the price goes down.

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Speaker 2: Normally when there's chaos in the markets, people flood to

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Speaker 2: the treasuries, right to the bonds. There's talk that because

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Speaker 2: China owns about a third of the US government bonds,

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Speaker 2: that they weren't buying and that that might have had

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Speaker 2: some effect in terms of forcing Trump's hand. Do you

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Speaker 2: see that by that?

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Speaker 6: There was a lot of rumors going around. I mean,

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Speaker 6: you know, hedge fund caught the wrong way, unwinding of

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Speaker 6: the carry trade, China trying to punish Trump, whether they're

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Speaker 6: selling end or not buying. It could have been a

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Speaker 6: number of things. But I also think that the yield

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Speaker 6: came in so quickly because there was so many people

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Speaker 6: rushing to save havens, that that's how the yield got

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Speaker 6: to three eighty five in the first place. So we

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Speaker 6: only kind of went back to where we were trading

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Speaker 6: in between say four fifteen and four thirty five, although

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Speaker 6: the high obviously it was four fifty. But I think

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Speaker 6: that bond market is bigger than the stock market. It's much.

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Speaker 6: It's so it's gonna be hard to manipulate it at all.

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Speaker 6: I mean maybe maybe maybe in the short rum a

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Speaker 6: little bit, but again, it's bigger than the stock market,

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Speaker 6: so the bond market's gonna be the bond market, regardless

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Speaker 6: of what people want to ascribe to it. I just

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Speaker 6: don't think that there was anything that farius going on there.

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Speaker 6: I just think it was a culmination of things.

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Speaker 2: Trump posted on truth. This is a great time to buy?

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Speaker 2: Is that borderline inside of trading?

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Speaker 6: You know what? They've been saying that for days though,

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Speaker 6: that's all you know that take it you look at

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Speaker 6: it in the snapshot of time of today, you might

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Speaker 6: be able to come up with something like that. No,

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Speaker 6: they've been saying that for days. I mean there's a

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Speaker 6: lot of folks that have been on the tape since

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Speaker 6: last Thursday saying this is an amazing, once for a

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Speaker 6: lifetime opportunity. So you could you know, it just so

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Speaker 6: happens that it was it was today that the market rally,

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Speaker 6: and it looks like he might have known something. But

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Speaker 6: again they've been saying that every day.

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Speaker 2: What do you think happens from here? I mean ninety

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Speaker 2: days to cut deals with seventy five countries sounds quite ambitious.

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Speaker 2: So does he just keep extending this stay?

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Speaker 6: I think it depends on how those deals go. But

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Speaker 6: I think that you know, as the news of these

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Speaker 6: settlements come out, you'll get more and more comfortable with

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Speaker 6: the market. I mean, we're not I don't think we're

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Speaker 6: going to have to go back through what we just

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Speaker 6: went through in ninety days time. If that's where you're

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Speaker 6: getting at. And at the same time, it's going to

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Speaker 6: be interesting to see how China handles the position that

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Speaker 6: they put themselves into. So you know, he's Trump generally

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Speaker 6: has some decent support. I think there was a risk

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Speaker 6: there that it went on. As long as people were

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Speaker 6: worried it was going to go on, he was going

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Speaker 6: to start to lose his own coalition, his own Republican support.

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Speaker 6: That might have been happening. There was talks of some

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Speaker 6: of some cracks in that coalition over the last few

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Speaker 6: days and the weekend. But I think I think that

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Speaker 6: the way things sit today that you know, if it

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Speaker 6: was all planned and this is what he wanted, he

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Speaker 6: did a pretty good job. And I think and I

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Speaker 6: think that it's also got to be given a little

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Speaker 6: bit of credit to Scott Best and are actually a

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Speaker 6: lot of cres credit to Scott Westmans. I think he

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Speaker 6: was also a big part of this. And I think

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Speaker 6: that tenure yield, combined with the stock market, combined with

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Speaker 6: the seventy five countries, combined with a lot of the

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Speaker 6: other things that have been playing into everything over the

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Speaker 6: last four or five days, this was a a pretty

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Speaker 6: good outcome.

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Speaker 2: All right, Scott will leave it there, Thanks very much

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Speaker 2: for that analysis. That's US market analyst Scott Shalaty with

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Speaker 2: US just gone sixteen after four News TALKSB. This is

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Speaker 2: from Gen. Gen says, Ryan's serious question. When people say

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Speaker 2: Trump knows what he's doing, do they mean he's pretending

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Speaker 2: to be insane. It's not a dumb question to ask, Jenny.

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Speaker 2: I've got a good answer for you. Next time. I'll

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Speaker 2: also speak to Darcy.

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Speaker 1: It's the Heather Dupers Allen Drive Full Show podcast on

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Speaker 1: iHeartRadio powered my News TALKSB.

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Speaker 2: News Talks HEB. It is four nineteen, so the debate

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Speaker 2: is happening. Well, it's not much of a debate. Actually,

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Speaker 2: it's the second reading of the Treaty Principles Bill in Parliament.

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Speaker 2: It's going to get voted down. At the end of

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Speaker 2: this we're seven speeches of twelve, so about halfway there,

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Speaker 2: here's Paul Goldsmith saying they don't like this bill, but

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Speaker 2: the idea of debating the principles of the treaty not

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Speaker 2: a bad one.

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Speaker 7: National opposes this bill, but we do not oppose the

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Speaker 7: open and frank discussion about the role of the Treaty

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Speaker 7: of and our laws and within the content text of

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Speaker 7: a modern democracy. That discussion is alive and well and

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Speaker 7: will continue. The critical thing is that we try our

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Speaker 7: best to conduct that conversation with good grace.

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Speaker 2: There you go, that's Paul Goldsmith. We'll have more grab

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Speaker 2: for you throughout. Yeah, here's what just gone nineteen after four,

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Speaker 2: now Rich, here's Darcy with sport. Hey, Darcy get it made.

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Speaker 2: Now supercars normally you see them racing around topul Soon

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Speaker 2: we could see them in christ Church as well. Is

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Speaker 2: that the idea?

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Speaker 8: That's the idea. I think some media outlets may have

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Speaker 8: possibly jumped the gun as far as confirming that. If

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Speaker 8: you go to the supercar website and they've basically said, look, yeah,

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Speaker 8: they've applied for it and we're looking at it, but

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Speaker 8: nothing's confirmed yet. We had a second race to Apuna

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Speaker 8: is a good place to have it. They thought maybe

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Speaker 8: down in Cromwell, there's a wonderful race track down there.

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Speaker 8: But the government don't really need to put any more

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Speaker 8: money into attracting people to Central Otago, right, They just don't,

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Speaker 8: whereas christ to be more interested in hosting it. The

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Speaker 8: victim has been Christs and topore is that it actually

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Speaker 8: has hotels and international airport and a few hundred thousand

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Speaker 8: people sitting right there pretty keen to go now. I

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Speaker 8: to opponent's fantastic track. It needs work done, needs money

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Speaker 8: invested in it. As far as grand stand should be temporary,

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Speaker 8: I'm sure, but pit Lane complex making sure it's up

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Speaker 8: to spec. So it's still under consideration. And I was

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Speaker 8: talked to Andre Homeguarny yesterday and he's like, yeah, look

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Speaker 8: we want it. We love it over here, you know.

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Speaker 9: But it's not cheap for them though.

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Speaker 2: It would be in addition to to there's going to.

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Speaker 8: Be weekends you'd go there and then you'd flip down

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Speaker 8: there because they honestly amount of money it takes them

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Speaker 8: to ship.

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Speaker 2: Over I can imagine tens and teens and.

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Speaker 9: Teens and hundreds of tons of gear it little bit.

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Speaker 8: Yeah, they don't want to go back and forth real,

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Speaker 8: so we hope so fingers crossed.

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Speaker 2: And Joey Man, who's looking to tear up his contract

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Speaker 2: with the French club.

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Speaker 8: Your contract, I'm interested although your previous life as a

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Speaker 8: TV broadcast. So they treated you.

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Speaker 2: They ripped the contract quite well, didn't they.

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Speaker 9: They don't mean anything anymore.

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Speaker 2: Well, how can you rip up a contract? I mean

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Speaker 2: I suppose you could. You could walk away from a contract.

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Speaker 2: I could have walked away from a contract and probably

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Speaker 2: very little would happened to me. I just couldn't go

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Speaker 2: to a competitor.

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Speaker 9: That you go.

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Speaker 8: Jody is playing over in Japan at the moment because

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Speaker 8: he walked away from the Roosters. He's a key internationals.

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Speaker 8: Fantastic play when over there. I go at rugby union.

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Speaker 8: He's over in a toy of a blitz at the moment,

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Speaker 8: playing over there. And then he signed a contract with

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Speaker 8: Russing ninety two to go and play within the French League.

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Speaker 8: And it's reported now and he's like, oh, I don't

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Speaker 8: want to go anymore, don't like it, citing family reasons,

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Speaker 8: which is always a backstop for any excuse because no

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Speaker 8: one questions that not saying there are not family reasons,

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Speaker 8: but you'd think before signing a contract.

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Speaker 10: To do it.

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Speaker 8: But at due diligence and realize, yeah, you can't be

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Speaker 8: away from Australia and he's in for quite some time.

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Speaker 8: You are that you might want to ask a few questions.

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Speaker 8: I don't know, things may have changed, but the memorandums

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Speaker 8: of understanding it's.

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Speaker 2: A you can tee, that's not a contour they can

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Speaker 2: well yeah, okay, but what do you who are you

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Speaker 2: doing on this tonight, Darcy?

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Speaker 9: I'm not touching that. I'm talking about the.

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Speaker 8: Well why are we super rug well because it's a

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Speaker 8: kind of cool story, the super Rugby opicky tonight. We're

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Speaker 8: talking about that fine which is it's at seven o'clock

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Speaker 8: at Eton Part on a Saturday night. That is prime

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Speaker 8: Super Rugby Fursday. The problem is the Highland is also

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Speaker 8: playing at the same time, so how that scheduling walk is?

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Speaker 8: What's except through.

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Speaker 2: After We will see you at seven Get Out four

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Speaker 2: twenty three News Talks.

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Speaker 1: Heap Moving the Big Stories of the Day four when

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Speaker 1: it's Ryan Bridge on Hither Duper c Allen Drive with

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Speaker 1: One New Zealand let's get connected news talks.

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Speaker 2: He'd be good afternoon. It is four twenty five. The

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Speaker 2: debate's still going on at Parliament. We've had a couple

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Speaker 2: of speeches, this one from Casey Costello on the Treaty

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Speaker 2: Principal's Bill that's about to get binned and what sorry

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Speaker 2: here she.

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Speaker 11: Goes, and what would the courts do with this legislation.

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Speaker 11: It is plain wrong to take the responsibility of determining

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Speaker 11: the role of tatidity or whites hangey from the highest

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Speaker 11: court in the land to the judiciary, which would have

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Speaker 11: been the outcome of this bill.

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Speaker 2: And from the Greens, woo whoop, it's time of the poor.

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Speaker 12: We still have a government that is willing to use

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Speaker 12: our money as a.

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Speaker 13: Cheap bargaining tool.

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Speaker 12: Despite what the New Zealand first Member has just told us.

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Speaker 12: They are the ones that want to remove twenty eight

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Speaker 12: General Treaty clauses across legislation. That is disgraceful.

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Speaker 2: There you go, it's continuing. We're up to eight out

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Speaker 2: of twelve. Speech is done and dusted, and then the

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Speaker 2: thing is going to get put in the bin and

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Speaker 2: we'll tell you what happens once the vote has taken

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Speaker 2: place as well. Nine nine two is the number to text.

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Speaker 2: Lots more to come after five, we're gonna speak to

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Speaker 2: He's probably the most well read man on China, most

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Speaker 2: well read Kiwi man on China living in Beijing. At

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Speaker 2: the moment, David Mahn is going to speak to us

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Speaker 2: about the tussle between mum and dad. There are two

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Speaker 2: big trading partners for goods, China and the US. And

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Speaker 2: sure the rest of us have kind of gotten off

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Speaker 2: the hook with the terraffs, but not China. But what

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Speaker 2: does that mean for the kids. We'll talk about that

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Speaker 2: up to five News.

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Speaker 1: Talks recapping the day's big news and making tomorrow's headlines.

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Speaker 1: It's Ryan Bridge on hither dup c Allen Drive with

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Speaker 1: one New Zealand let's get connected news talks.

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Speaker 3: They'd be Je said, Hi, nice to meet you two.

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Speaker 14: Hi.

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Speaker 15: Maybe Google does get up up Good afternoon.

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Speaker 2: It is twenty five away from five's news talks. They'd

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Speaker 2: be Barry Soper is tuned into Parliament and will report

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Speaker 2: to us as in about fifteen minutes from now. Did

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Speaker 2: you see this story this morning? The bus driving on

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Speaker 2: the wrong side of the road in Wellington? Not commenting

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Speaker 2: on that in particular. But I have noticed a trend

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Speaker 2: where the roads are getting so narrow they've got nowhere

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Speaker 2: else to go. I was driving home last night, and

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Speaker 2: I drive up a hill and there's two lanes, and

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Speaker 2: you can never fit into the right hand lane if

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Speaker 2: there's a bus in the left hand lane, which there

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Speaker 2: often is, because there's obviously one going when I leave

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Speaker 2: work at that time. But have you noticed this too?

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Speaker 2: They are just getting so narrow that it started with

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Speaker 2: car parks. You know, you'd see some poor pregnant woman

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Speaker 2: trying to get out of a car park. You can't

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Speaker 2: even open your door these days, they're so close together.

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Speaker 2: Now they've moved from car parks to actual roads. They

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Speaker 2: are so narrow you can't drive on them and a car,

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Speaker 2: let alone a bus. So I actually feel sorry for

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Speaker 2: the bus drivers because they've got nowhere else to go.

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Speaker 2: It's the people making the roads. It's the councils that

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Speaker 2: we can hate on, and hate we will, and because

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Speaker 2: the reason they have to be so narrow, of course,

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Speaker 2: is that they've got a cycle lane, and then they've

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Speaker 2: got a footpath, and then I've got a lane for

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Speaker 2: I don't know, dog walkers, and you know, every man

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Speaker 2: and his dog has a lane except cars, which is

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Speaker 2: what the road was made for.

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Speaker 1: It's the world wires on news dogs, they'd be drive.

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Speaker 2: China now placing one hundred and twenty five percent. Thank

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Speaker 2: you Trump. Scott Vesant, he's the Treasury secretary, says, Trump's

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Speaker 2: got Beijing right where he wants them.

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Speaker 16: This was his strategy along and that you know, you

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Speaker 16: might even say that he go to China into a

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Speaker 16: bad position. They responded, they have shown themselves to the

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Speaker 16: world to be the bad actors.

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Speaker 2: Now Penny Wong out of Australia, she's the foreign minister.

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Speaker 2: She reckons he might be another explanation for why Trump

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Speaker 2: has hit pause on the tariff.

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Speaker 17: As a consequence of what has occurred on the financial

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Speaker 17: markets in the stock market. Obviously, the president has made

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Speaker 17: a decision to pause the tariff cities imposed on most

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Speaker 17: other countries.

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Speaker 2: She's right, it was the bonds that did it. Finally,

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Speaker 2: this afternoon, the Chinese restaurant in Madrid has been shut

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Speaker 2: down because it's roast duck. Wasn't really duck? Or where's

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Speaker 2: the story going? Ants? Where's the story? Turns out the

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Speaker 2: restaurant had been sneakily grabbing pigeons off the street, cooking

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Speaker 2: them and passing them off as duck. Police rated the

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Speaker 2: restaurant found a hidden of this is So Dark. Found

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Speaker 2: a hidden room containing plucked pigeons, meat drying on clothing racks,

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Speaker 2: and a lot of cock croaches. Restaurant has four stars

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Speaker 2: on Google and shows you how reliable those things are.

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Speaker 2: Three and a half on trip Advisor. I guess some

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Speaker 2: people like the taste of pigeons.

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Speaker 1: International correspondence with ends in eye Insurance Peace of mind

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Speaker 1: for New Zealand business make.

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Speaker 2: Murray Olds in Australia Murray good afternoon, you go yeah, good,

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Speaker 2: thank you. Guys have had a good today.

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Speaker 6: Yeah.

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Speaker 14: Literally minutes after they opened ten am Australian time, Eastern time,

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Speaker 14: midday New Zealand time, and literally in minutes the Australian

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Speaker 14: sock market up six percent in that.

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Speaker 10: Very very early trade.

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Speaker 14: I mean they must have been there this morning having

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Speaker 14: their weekbeaks, the traders looking what's happening in Washington and thought, boody,

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Speaker 14: hell I been he go into work this morning on

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Speaker 14: time because.

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Speaker 10: It was all it was all hands on deck.

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Speaker 14: Up six percent in early trade. The ASX, the Australian

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Speaker 14: dollar up as well. Last time I looked, Australian iron

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Speaker 14: ore was up two and a half two point two percent.

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Speaker 14: I beg your pardon, which is great if China is

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Speaker 14: still going to be able to afford to buy Australia's

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Speaker 14: iron ore because of course the baseline tariff that Trump

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Speaker 14: is now imposing worldwide ten percent of Australia was already at

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Speaker 14: that mark. So ten percent for the rest of the

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Speaker 14: world for ninety days, but heaven's above one hundred and

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Speaker 14: twenty five percent on China. So what does that mean

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Speaker 14: for Australia, Because that's the big over here Australia. I

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Speaker 14: big your pardner China by far Australia's biggest trading partner.

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Speaker 14: Just the lawnmous volumes in Australia's favor here that Australia

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Speaker 14: sells up into China, a massive market. So economists now

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Speaker 14: over here calling on the Reserve Bank of Australia to

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Speaker 14: cut the cash rate. Now they're not scheddled to meet

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Speaker 14: again until next month, so they want an emergency meeting

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Speaker 14: of the RBA. They want a half percent cup now,

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Speaker 14: half percent next month or if they're not going to

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Speaker 14: do that meet next month and give us half of

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Speaker 14: one percent. So it really is that they are now

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Speaker 14: calling for a mega rate cut. They're saying Ryan, not

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Speaker 14: zero point twenty five, but they won half a percent

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Speaker 14: cut next time the bank meets, unless they meet tomorrow,

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Speaker 14: and that's not going to happen.

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Speaker 10: So it really is. It's kind of like you wake

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Speaker 10: up this morning of what the hell's going on because

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Speaker 10: the world had changed overnight, and look there are people

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Speaker 10: growing wine, people growing beef, people growing wheat, people digging

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Speaker 10: up cole and I or they just don't know what's

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Speaker 10: going to happen tomorrow.

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Speaker 2: No, none of us do, do we The most sleep

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Speaker 2: we get is when he's sleeping. I have found now Australia,

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Speaker 2: this is interesting. So Beijing has come to Canber and said, look,

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Speaker 2: let's jointly oppose Trump, and Elbow is actually resisting this.

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Speaker 14: Look an intriguing cheeky you might say. The Chinese ambassador

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Speaker 14: to Australia very well spoken, very well regarded. I believe

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Speaker 14: he wrote an op ed piece for the nine newspapers

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Speaker 14: that is the Fen Review, the City Morning Herald and

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Speaker 14: the Age newspaper in Melbourne. And as you say, he

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Speaker 14: said there was an invitation from Beijing to Australia to quote,

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Speaker 14: join hands with Beijing to resist Donald Trump. We should

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Speaker 14: be in solidarity with Beijing. And as you say, the

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Speaker 14: Prime Minister here, Anthony Alberanezi, brushed that off.

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Speaker 10: We'll speak for our elves, he said.

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Speaker 14: The trade relationship, he was very quick to point out though,

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Speaker 14: is vitally important for Australia. It does represent and I

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Speaker 14: hadn't heard this step before before Albanezi mentioned this today. Ryan,

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00:22:12,800 --> 00:22:16,480
Speaker 14: the trade with China, this is very important. It represents

437
00:22:16,520 --> 00:22:19,760
Speaker 14: one in four jobs in Australia. That's a huge number.

438
00:22:19,840 --> 00:22:23,360
Speaker 14: That's a big, big number. One in four jobs are

439
00:22:23,359 --> 00:22:27,280
Speaker 14: directly linked to Australia's trade with China, by far our

440
00:22:27,320 --> 00:22:30,359
Speaker 14: biggest trading partner. And so what happens to China, not

441
00:22:30,560 --> 00:22:33,840
Speaker 14: just the US, what happens to China materially affects Australia.

442
00:22:33,880 --> 00:22:37,920
Speaker 2: Absolutely. We will the same tightrope you guys to trying

443
00:22:37,920 --> 00:22:40,040
Speaker 2: to balance those two interests. Murray, thank yous for that.

444
00:22:40,040 --> 00:22:41,560
Speaker 2: Great to have you on as the worst Murray, El's

445
00:22:41,560 --> 00:22:44,320
Speaker 2: our Australia correspondent. It is eighteen minutes away from five.

446
00:22:45,320 --> 00:22:47,760
Speaker 2: David Mahn who's our guest after five this evening. He's

447
00:22:47,760 --> 00:22:50,040
Speaker 2: a key we living in China. He's very smart on

448
00:22:50,080 --> 00:22:53,520
Speaker 2: an investment, very smart on business in China, and very

449
00:22:53,560 --> 00:22:56,040
Speaker 2: smart on the CCP as well. So he has a

450
00:22:56,040 --> 00:22:59,640
Speaker 2: really interesting take on how we should behave. We don't

451
00:22:59,640 --> 00:23:02,439
Speaker 2: want to do fel GoF. We don't want to do

452
00:23:02,560 --> 00:23:05,120
Speaker 2: a Malcolm Turnbull, do we?

453
00:23:05,480 --> 00:23:05,560
Speaker 1: So?

454
00:23:05,720 --> 00:23:08,639
Speaker 2: How what line do we walk to make sure that

455
00:23:08,720 --> 00:23:13,760
Speaker 2: we don't alienate China? In sucking up to Trump eighteen

456
00:23:13,800 --> 00:23:15,120
Speaker 2: to five Bearing Necks.

457
00:23:15,119 --> 00:23:18,840
Speaker 1: Politics was centrics, credit, check your customers and get payments certainty.

458
00:23:19,040 --> 00:23:21,800
Speaker 2: Acording to five News talks, he'd be so the Treaty

459
00:23:21,840 --> 00:23:24,679
Speaker 2: debate at Parliament, the second reading here is Woody Jackson

460
00:23:24,680 --> 00:23:25,480
Speaker 2: getting kicked out.

461
00:23:25,840 --> 00:23:27,680
Speaker 5: Oh there, I don't see more.

462
00:23:27,680 --> 00:23:29,160
Speaker 18: You're a disgrace to this house.

463
00:23:29,200 --> 00:23:31,280
Speaker 19: And when it comes to the Treaty of White Tongue,

464
00:23:31,400 --> 00:23:34,960
Speaker 19: you will and always be a liar, killed a mister speaker.

465
00:23:37,640 --> 00:23:44,400
Speaker 2: Leader, predictable lead, predictable, predictable, liar, barry. And he did

466
00:23:44,400 --> 00:23:45,040
Speaker 2: it last time.

467
00:23:45,160 --> 00:23:46,120
Speaker 20: He did it last time.

468
00:23:46,119 --> 00:23:47,960
Speaker 9: I knew exactly what he was doing.

469
00:23:48,160 --> 00:23:50,679
Speaker 20: He made his speech and then knew that he'd be

470
00:23:50,720 --> 00:23:53,640
Speaker 20: thrown out and I've got to say, I've been watching

471
00:23:53,720 --> 00:23:56,960
Speaker 20: the debate all through it, and it got off to

472
00:23:57,160 --> 00:24:00,120
Speaker 20: the treaty Principal's bill got off to a probably a

473
00:24:00,160 --> 00:24:01,359
Speaker 20: predictable start.

474
00:24:01,400 --> 00:24:04,840
Speaker 13: Have listen, mister Speaker, members of this House.

475
00:24:04,800 --> 00:24:07,120
Speaker 2: Can still change their minds.

476
00:24:08,080 --> 00:24:12,679
Speaker 7: Hold where are.

477
00:24:12,560 --> 00:24:17,720
Speaker 21: The police helping us with this? Let me make it

478
00:24:17,880 --> 00:24:20,560
Speaker 21: very clear anyone else in here thinks that that's an

479
00:24:20,600 --> 00:24:24,080
Speaker 21: acceptable intervention and the activities of this Parliament will be

480
00:24:24,119 --> 00:24:27,600
Speaker 21: treated parshly by the officers of the law who are

481
00:24:27,600 --> 00:24:32,000
Speaker 21: here completely unacceptable. We live in a democracy. This is

482
00:24:32,040 --> 00:24:35,800
Speaker 21: the place where opinions are given, not from the gallery.

483
00:24:36,200 --> 00:24:37,359
Speaker 5: So there I have.

484
00:24:37,640 --> 00:24:40,440
Speaker 2: Jerry was not a happy man at all when he

485
00:24:40,440 --> 00:24:42,600
Speaker 2: needs these officers of the lord. Does he mean police?

486
00:24:42,720 --> 00:24:42,880
Speaker 3: Yeah?

487
00:24:43,440 --> 00:24:46,000
Speaker 20: Where where are the cops at the start? It took

488
00:24:46,040 --> 00:24:47,880
Speaker 20: a while to get there to throw this guy out,

489
00:24:47,920 --> 00:24:51,960
Speaker 20: But look was on from that relative silence, I've got

490
00:24:52,000 --> 00:24:55,240
Speaker 20: to say, because Jerry was so hosed off, the people

491
00:24:55,240 --> 00:24:58,320
Speaker 20: had been warned, So it was in relative silence that

492
00:24:58,400 --> 00:25:00,120
Speaker 20: David Seymour was allowed to have us.

493
00:25:00,600 --> 00:25:03,240
Speaker 13: Brothers argue that maybe Parliament can make laws, but not

494
00:25:03,520 --> 00:25:06,800
Speaker 13: this law. What they're really saying is our constitutional future

495
00:25:06,840 --> 00:25:09,720
Speaker 13: can be decided by the unelected, but not the elected,

496
00:25:09,920 --> 00:25:13,479
Speaker 13: and certainly not the people in a referendum. Those are

497
00:25:13,520 --> 00:25:18,800
Speaker 13: the fundamentally undemocratic propositions. Anyone opposing this bill is really

498
00:25:18,840 --> 00:25:21,199
Speaker 13: signing up to that they do not trust the New

499
00:25:21,240 --> 00:25:24,560
Speaker 13: Zealand people to determine their constitutional future.

500
00:25:24,760 --> 00:25:25,320
Speaker 2: And I'm so.

501
00:25:25,440 --> 00:25:27,920
Speaker 13: Proud to stand for the one party in this House

502
00:25:27,960 --> 00:25:29,320
Speaker 13: that most certainly.

503
00:25:28,960 --> 00:25:32,080
Speaker 20: Does That was the Act Party. Yeah, we'll let pell

504
00:25:32,200 --> 00:25:35,000
Speaker 20: on deaf ears. When it came to Chris Hopkins.

505
00:25:35,560 --> 00:25:38,600
Speaker 19: Te hey, moldy older, mister Speaker. Normally, when I rise

506
00:25:38,640 --> 00:25:40,280
Speaker 19: in this House to speak on a bill, I say

507
00:25:40,320 --> 00:25:42,840
Speaker 19: it's a great privilege to speak on the bill. That

508
00:25:43,000 --> 00:25:46,439
Speaker 19: is not the case today. This is a grubby little

509
00:25:46,440 --> 00:25:50,960
Speaker 19: bill born of a grubby little deal that has had

510
00:25:51,000 --> 00:25:52,400
Speaker 19: a colossal.

511
00:25:54,880 --> 00:25:58,280
Speaker 21: Excuse me, I'll make it clear just once the gallery

512
00:25:58,280 --> 00:26:01,640
Speaker 21: do not interfere the act of his Parliament. Another outboost

513
00:26:01,720 --> 00:26:04,800
Speaker 21: like that will clear the galleries. Everyone will be going. They'reright,

514
00:26:04,840 --> 00:26:05,800
Speaker 21: honorable Crucificans.

515
00:26:05,960 --> 00:26:09,199
Speaker 19: It has had a colossal impact on the fabric of

516
00:26:09,280 --> 00:26:13,000
Speaker 19: our nation and this bill will forever be a stain

517
00:26:13,160 --> 00:26:14,080
Speaker 19: on our country.

518
00:26:14,400 --> 00:26:19,119
Speaker 20: Oh, for goodness sake. Then it was the Young Mali

519
00:26:19,200 --> 00:26:22,640
Speaker 20: Party mp who caused an uproar when the Treaty's Bill

520
00:26:22,720 --> 00:26:27,879
Speaker 20: you remember was introduced. Hannah raffitimp Clark by ripping it

521
00:26:28,000 --> 00:26:32,000
Speaker 20: up and leading a hakka. She was the Mari Parties,

522
00:26:32,040 --> 00:26:35,359
Speaker 20: as I say, the first speaker. She shared her time

523
00:26:35,440 --> 00:26:39,960
Speaker 20: speaking interestingly with the Greens. Tamotha pool here they are the.

524
00:26:39,880 --> 00:26:43,760
Speaker 22: Real problem is that this institution, this House, has only

525
00:26:43,760 --> 00:26:49,080
Speaker 22: ever recognized one partner, one culture, one language, from one treaty.

526
00:26:49,359 --> 00:26:52,120
Speaker 22: When will the rules of this House acknowledge the laws

527
00:26:52,160 --> 00:26:55,720
Speaker 22: of this land tikanga anti tennaty or white singing. This

528
00:26:55,920 --> 00:26:59,840
Speaker 22: bill hasn't been stopped. This bill has been absolutely annihilated.

529
00:27:00,440 --> 00:27:04,800
Speaker 12: That little man does not represent your views. Shoulder to

530
00:27:05,000 --> 00:27:08,160
Speaker 12: you and to ee. The fight is not over. Despite

531
00:27:08,200 --> 00:27:11,159
Speaker 12: their crocodile tears, we still have a government that is

532
00:27:11,240 --> 00:27:14,399
Speaker 12: willing to use our mona as a cheap bargaining tool.

533
00:27:15,119 --> 00:27:18,399
Speaker 20: See the Greens obviously are still embracing Tabitha Paul. She

534
00:27:18,640 --> 00:27:21,119
Speaker 20: was that one that said that little Man does not

535
00:27:21,240 --> 00:27:24,760
Speaker 20: represent our view. She was pointing, of course, at David Seymour.

536
00:27:24,920 --> 00:27:28,760
Speaker 20: So look it god all quite nasty, and we knew

537
00:27:28,840 --> 00:27:32,280
Speaker 20: the outcome. It hasn't I think the twelfth speech is

538
00:27:32,440 --> 00:27:35,560
Speaker 20: being heard as we speak at the moment. I will

539
00:27:35,680 --> 00:27:39,320
Speaker 20: guarantee it you'll see a huka from the Maldi party

540
00:27:39,400 --> 00:27:42,119
Speaker 20: that doesn't have been waiting on, but it's it'll be

541
00:27:42,240 --> 00:27:45,119
Speaker 20: whilst we're on air at the moment, probably or shortly

542
00:27:45,160 --> 00:27:47,880
Speaker 20: thereafter that the bill will be wrapped up and gone.

543
00:27:47,920 --> 00:27:50,320
Speaker 2: I'm surprisedly what she wasn't pulled up for calling him

544
00:27:50,320 --> 00:27:52,000
Speaker 2: a little man, because it was.

545
00:27:52,119 --> 00:27:53,600
Speaker 20: Not only an honorable little man.

546
00:27:54,359 --> 00:27:58,080
Speaker 2: Exactly right. Barry Luxon was speaking today, he did, well,

547
00:27:58,200 --> 00:27:59,879
Speaker 2: how did a press conference after you this speech on

548
00:28:00,080 --> 00:28:02,520
Speaker 2: trade to the Valentin Chamber of Commerce, and he's talking about,

549
00:28:02,640 --> 00:28:04,480
Speaker 2: you know, the regional leaders coming together.

550
00:28:04,800 --> 00:28:07,520
Speaker 20: Look, that's the way they've got to I've got to

551
00:28:07,600 --> 00:28:10,359
Speaker 20: band together if you like. But he was also talking

552
00:28:10,400 --> 00:28:15,280
Speaker 20: about the European Union. And because I've made noises about

553
00:28:15,359 --> 00:28:22,040
Speaker 20: the cp TPPA, that's the Comprehensive trans Tasman Partnership Agreement.

554
00:28:23,119 --> 00:28:26,440
Speaker 20: New Zealand of course was one of the originals, the

555
00:28:26,520 --> 00:28:30,440
Speaker 20: four originals that began that process. And you're remember it

556
00:28:30,600 --> 00:28:36,680
Speaker 20: was extended by the Canadians that put comprehensive progressive. Interestingly,

557
00:28:36,760 --> 00:28:40,160
Speaker 20: it was extended by the Canadians after Donald Trump, I

558
00:28:40,360 --> 00:28:43,760
Speaker 20: reckon had a hand in it. When Justin Trudeau was

559
00:28:43,840 --> 00:28:48,560
Speaker 20: in Vietnam, I was there as well, and Justin Trudeau

560
00:28:48,720 --> 00:28:50,680
Speaker 20: was about to sign it with the rest of the

561
00:28:50,720 --> 00:28:55,240
Speaker 20: countries backed away, you'll remember, and then all hell broke loosen,

562
00:28:55,320 --> 00:28:58,200
Speaker 20: it broke apart, and Donald Trump, I reckon was pulling

563
00:28:58,240 --> 00:28:58,720
Speaker 20: the strings.

564
00:28:58,800 --> 00:28:58,960
Speaker 14: Then.

565
00:28:59,320 --> 00:29:03,040
Speaker 20: Obviously Youropean Union is the biggest target for us to

566
00:29:03,200 --> 00:29:05,960
Speaker 20: include in that agreement, and that's the area of the

567
00:29:06,000 --> 00:29:07,520
Speaker 20: primer is to see as he will be pushing for.

568
00:29:08,080 --> 00:29:09,920
Speaker 23: That'll be ultimate decision for the EU, and it does

569
00:29:10,000 --> 00:29:12,760
Speaker 23: require ratification process, as you will wear, it's quite slow.

570
00:29:13,040 --> 00:29:15,480
Speaker 23: What I'm looking for is actually, how can we bind

571
00:29:15,480 --> 00:29:18,320
Speaker 23: as many countries as possible at these countries that are

572
00:29:18,320 --> 00:29:21,240
Speaker 23: already you know you looking at the CPTPP, how do

573
00:29:21,360 --> 00:29:24,600
Speaker 23: we go For example, UK is still requiring ratification from

574
00:29:24,680 --> 00:29:26,680
Speaker 23: Canada and from Mexico, So how do we speed that

575
00:29:26,760 --> 00:29:28,120
Speaker 23: up and get them fully into the system.

576
00:29:28,400 --> 00:29:31,840
Speaker 20: So it's a long process, but we're really what we've

577
00:29:31,880 --> 00:29:35,680
Speaker 20: got to do is turn our backs on America. Who know,

578
00:29:35,680 --> 00:29:37,640
Speaker 20: it's the biggest economy in the world. It's hard to

579
00:29:37,720 --> 00:29:37,840
Speaker 20: do it.

580
00:29:37,960 --> 00:29:40,560
Speaker 2: You can't do that they're a second largest trading partner. Well,

581
00:29:40,600 --> 00:29:43,479
Speaker 2: that's right, we just have to just ride the wave. Well,

582
00:29:43,480 --> 00:29:46,080
Speaker 2: if we're in a small player, very fly.

583
00:29:46,120 --> 00:29:51,520
Speaker 20: On the are absolutely, But the CPTPPA that is an

584
00:29:51,560 --> 00:29:54,120
Speaker 20: avenue where you're going to have a big trading block

585
00:29:54,200 --> 00:29:57,480
Speaker 20: because don't forget the Europeans. You got fifty seven countries there.

586
00:29:57,640 --> 00:29:59,520
Speaker 2: Yeah, but remember we've already got a free trade deer

587
00:29:59,560 --> 00:30:01,600
Speaker 2: with the E We've already got one with the UK.

588
00:30:01,840 --> 00:30:04,320
Speaker 2: So adding the UK or the EU to the CTP

589
00:30:04,520 --> 00:30:08,360
Speaker 2: T P P PIP won't actually benefit us, you know, directly,

590
00:30:08,800 --> 00:30:10,920
Speaker 2: but it might. I suppose if you make the block bigger,

591
00:30:11,000 --> 00:30:13,040
Speaker 2: then you get in direct benefits from it. So I

592
00:30:13,120 --> 00:30:15,040
Speaker 2: can see the logic of what he's saying.

593
00:30:15,960 --> 00:30:18,000
Speaker 20: He's been talking to them all day to day. Hasn't

594
00:30:18,040 --> 00:30:18,960
Speaker 20: been in the house.

595
00:30:18,800 --> 00:30:19,040
Speaker 21: For the.

596
00:30:20,640 --> 00:30:25,320
Speaker 2: I suppose you had to have something to do, didn't. Yeah, Hey, Barry,

597
00:30:25,360 --> 00:30:27,200
Speaker 2: thanks for that. You've been right across. I appreciate you.

598
00:30:27,560 --> 00:30:32,120
Speaker 2: You're analysis eight minutes away from five news talk, said Big, putting.

599
00:30:31,880 --> 00:30:35,280
Speaker 3: The time questions to the newspeakers the mic, asking.

600
00:30:35,000 --> 00:30:38,400
Speaker 24: Breakfast Finance Minister Nikola Willison. I was watching Trump's speak

601
00:30:38,440 --> 00:30:41,600
Speaker 24: to some party faithfully said, everyone's ringing up kissing his ass.

602
00:30:41,640 --> 00:30:43,760
Speaker 24: So we one of the people kissing is ask well.

603
00:30:43,760 --> 00:30:48,760
Speaker 25: Look our diplomats in Washington speaking with the US counterparts.

604
00:30:48,240 --> 00:30:51,520
Speaker 24: When you talk or they talk to the administration, do

605
00:30:51,680 --> 00:30:54,560
Speaker 24: they come back to you with any level of clarity

606
00:30:54,680 --> 00:30:55,360
Speaker 24: that makes sense?

607
00:30:55,480 --> 00:30:55,600
Speaker 3: Well?

608
00:30:55,720 --> 00:31:00,480
Speaker 25: Uncertainly is because this is a significant global economic and

609
00:31:00,760 --> 00:31:03,360
Speaker 25: as the finance mister, I need to keep on top

610
00:31:03,400 --> 00:31:06,480
Speaker 25: of what's happening, implications for New Zealand and so far

611
00:31:06,840 --> 00:31:09,440
Speaker 25: very much our view as we should stay the course.

612
00:31:09,800 --> 00:31:12,520
Speaker 24: Back tomorrow at six am the Mike Hosking Breakfast with

613
00:31:12,560 --> 00:31:14,600
Speaker 24: the rain drover of the last news Talk ZEBB.

614
00:31:15,440 --> 00:31:18,040
Speaker 2: It is five to five on Newstalk ZEBB. So the

615
00:31:18,200 --> 00:31:20,160
Speaker 2: sumo wrestlers are going at it in China and the

616
00:31:20,280 --> 00:31:23,800
Speaker 2: United States. And here's the thing about this. Trump has,

617
00:31:24,360 --> 00:31:26,960
Speaker 2: for want of a better word, caved to the bond

618
00:31:27,040 --> 00:31:30,480
Speaker 2: markets on global tariffs. He's did up ninety day freeze

619
00:31:30,600 --> 00:31:32,760
Speaker 2: on and lowered to ten percent, so we're all on

620
00:31:32,880 --> 00:31:37,400
Speaker 2: ten percent except China. Now, to save faith, he's having

621
00:31:37,480 --> 00:31:40,560
Speaker 2: to double down on China, which makes it harder for

622
00:31:40,680 --> 00:31:44,440
Speaker 2: him to back down on his last remaining target. So

623
00:31:44,560 --> 00:31:46,640
Speaker 2: what you've got is a battle between a battle of

624
00:31:46,720 --> 00:31:50,560
Speaker 2: wills between Hi Jinping and Donald Trump and Donald Trump

625
00:31:50,760 --> 00:31:55,640
Speaker 2: with no other targets in sight but China. So it's

626
00:31:55,680 --> 00:31:58,520
Speaker 2: not looking good, is it. And if what David Marnin,

627
00:31:58,520 --> 00:32:01,080
Speaker 2: who's on the show after five said is to be believed,

628
00:32:01,160 --> 00:32:03,840
Speaker 2: China's not backing down either. And let's not forget that

629
00:32:04,080 --> 00:32:07,920
Speaker 2: China is the US's third largest partner, but the US

630
00:32:08,200 --> 00:32:14,680
Speaker 2: it's China's first trading first biggest trading partner. Anyway, Chris

631
00:32:14,800 --> 00:32:16,960
Speaker 2: Luxen wades in today he says, look, I'm going to

632
00:32:17,000 --> 00:32:19,160
Speaker 2: talk free trade with all of our regional partners, etc.

633
00:32:19,960 --> 00:32:22,520
Speaker 2: But I don't know whether someone didn't tell Winston that

634
00:32:22,600 --> 00:32:24,520
Speaker 2: that's what he was going to say, or whether Winston

635
00:32:24,600 --> 00:32:26,920
Speaker 2: just doesn't think it's a good idea. But they don't

636
00:32:26,920 --> 00:32:28,200
Speaker 2: appear to be on the same page.

637
00:32:28,640 --> 00:32:29,800
Speaker 10: This is all very premature.

638
00:32:30,480 --> 00:32:31,200
Speaker 3: It's premature.

639
00:32:31,480 --> 00:32:34,440
Speaker 26: Well, I was very well, David Parker wrote the dum

640
00:32:34,560 --> 00:32:36,880
Speaker 26: thing for to sake, I think it's premature. Well, look,

641
00:32:36,920 --> 00:32:38,440
Speaker 26: and we're trying to sort out this other thing with

642
00:32:38,520 --> 00:32:42,080
Speaker 26: America and China's trade war, and we're rushing off the solutions.

643
00:32:42,120 --> 00:32:43,640
Speaker 6: That's fine. Up what happened there first.

644
00:32:45,040 --> 00:32:46,880
Speaker 2: And he's got a point, isn't he. But it's a

645
00:32:46,920 --> 00:32:48,520
Speaker 2: bit of a could to be talking over your boss

646
00:32:48,720 --> 00:32:51,080
Speaker 2: like that coming up to five o'clock news talks, there'd

647
00:32:51,080 --> 00:32:51,920
Speaker 2: be we're in China.

648
00:32:52,000 --> 00:33:20,520
Speaker 1: Next, Questions, answers, facts, analysis, the drive show you trust

649
00:33:20,640 --> 00:33:23,960
Speaker 1: for the full picture? Brian Bridge on Heather Duplicy Alan

650
00:33:24,040 --> 00:33:27,800
Speaker 1: Drive with one New Zealand let's get connected news talks.

651
00:33:27,800 --> 00:33:30,960
Speaker 2: That'd be good evening the seven after five news talks,

652
00:33:31,000 --> 00:33:34,160
Speaker 2: there'd be So the Treaty Principal's Bill is officially dead

653
00:33:34,200 --> 00:33:35,080
Speaker 2: on its second reading.

654
00:33:35,640 --> 00:33:39,520
Speaker 21: The eyes are eleven, the nose one hundred and twelve.

655
00:33:39,680 --> 00:33:41,120
Speaker 21: The motion is lost.

656
00:33:43,480 --> 00:33:45,520
Speaker 2: David Semols, the Act Party leader of the Architect of

657
00:33:45,560 --> 00:33:48,960
Speaker 2: the Billies with us now, David good evening, Get it run.

658
00:33:49,320 --> 00:33:50,200
Speaker 2: How do you feel.

659
00:33:51,920 --> 00:33:52,400
Speaker 27: Pretty good?

660
00:33:52,880 --> 00:33:55,560
Speaker 28: I don't think anyone else, frankly, would have had the

661
00:33:55,720 --> 00:33:59,320
Speaker 28: courage to put this agenda on the table. And after

662
00:33:59,480 --> 00:34:01,760
Speaker 28: listening I I stayed and I listened to every single

663
00:34:01,840 --> 00:34:05,640
Speaker 28: word of the opposition speeches, and not one of them

664
00:34:05,880 --> 00:34:09,919
Speaker 28: could explain why they don't think Parliament should be able

665
00:34:10,000 --> 00:34:12,680
Speaker 28: to make laws, which is the first principle I propose,

666
00:34:13,560 --> 00:34:16,640
Speaker 28: why they don't think that the Crown should commit to

667
00:34:17,280 --> 00:34:21,239
Speaker 28: upholding Maori rights but also upholding everyone else's rights too,

668
00:34:21,960 --> 00:34:25,760
Speaker 28: or why they don't think every person should be equal

669
00:34:25,880 --> 00:34:29,000
Speaker 28: before the law. So as far as the debate goes,

670
00:34:29,600 --> 00:34:35,120
Speaker 28: there are three principles proposed and mandaries of speakers actually

671
00:34:35,800 --> 00:34:38,000
Speaker 28: spoke about what's in the bill or why they disagree

672
00:34:38,000 --> 00:34:40,800
Speaker 28: with it. Now that, on the other hand, depresses me

673
00:34:40,880 --> 00:34:44,480
Speaker 28: somewhat for the somewhat for the future of our country

674
00:34:44,520 --> 00:34:45,480
Speaker 28: if this is our parliament.

675
00:34:45,520 --> 00:34:47,840
Speaker 2: But hey, what's next? What do you do with the

676
00:34:47,920 --> 00:34:48,359
Speaker 2: bill now?

677
00:34:50,320 --> 00:34:54,200
Speaker 28: Well, the basic commitment that act has to equal rights

678
00:34:54,280 --> 00:34:57,600
Speaker 28: for all kiwis before the law. That stays because that

679
00:34:57,800 --> 00:35:02,839
Speaker 28: is a universal truth. As the election approaches, we will

680
00:35:02,960 --> 00:35:05,759
Speaker 28: lay out exactly how we're going to do that tactically.

681
00:35:06,280 --> 00:35:09,960
Speaker 28: I think it's fair to say that as we think

682
00:35:10,040 --> 00:35:12,920
Speaker 28: about all of this, we'll be asking how do we

683
00:35:13,040 --> 00:35:15,640
Speaker 28: get more people on board for that truth? Because right

684
00:35:15,719 --> 00:35:19,880
Speaker 28: now we've got a country where a large minority of

685
00:35:19,960 --> 00:35:24,080
Speaker 28: people genuinely believe that we should be ranked by the

686
00:35:24,280 --> 00:35:27,080
Speaker 28: arrival time of our ancestors, and I don't think that

687
00:35:27,200 --> 00:35:28,960
Speaker 28: that is healthy for the future of our country.

688
00:35:29,040 --> 00:35:31,080
Speaker 2: Will you make a referendum a bottom line and a

689
00:35:31,160 --> 00:35:33,960
Speaker 2: coalition discussion. Is that how you do it?

690
00:35:35,160 --> 00:35:39,439
Speaker 28: That is absolutely a possibility. We wouldn't rule that out,

691
00:35:40,200 --> 00:35:42,960
Speaker 28: because sooner or later, the logic of this bill is

692
00:35:43,000 --> 00:35:45,799
Speaker 28: going to prevail New Zealanders our equal. The treaty does

693
00:35:45,880 --> 00:35:48,840
Speaker 28: actually give us the provision to be equal. It's just

694
00:35:48,960 --> 00:35:51,640
Speaker 28: been hijacked by a whole lot of people, mainly in

695
00:35:51,719 --> 00:35:54,120
Speaker 28: the courts and the White Tongue Tribunal and the bureaucracy,

696
00:35:54,239 --> 00:35:56,680
Speaker 28: who don't seem to see how serious this is.

697
00:35:56,960 --> 00:35:59,160
Speaker 2: All right, David, appreciate your time tonight. David seymo Or,

698
00:35:59,160 --> 00:36:01,520
Speaker 2: the act party leader, the architect of the treaty principles

699
00:36:01,560 --> 00:36:03,879
Speaker 2: build voted down on second reading in the House ten

700
00:36:03,920 --> 00:36:07,840
Speaker 2: minutes ago, nine after five, Ryan Bridge, right now, Chinese

701
00:36:07,920 --> 00:36:10,719
Speaker 2: goods one hundred and twenty five percent tariff when they

702
00:36:10,800 --> 00:36:14,040
Speaker 2: reached the US border. US goods eighty four percent of

703
00:36:14,120 --> 00:36:16,600
Speaker 2: the Chinese border. It's a high stakes game of who

704
00:36:16,719 --> 00:36:20,200
Speaker 2: blinks first of chicken between these two superpowers. Trump says

705
00:36:20,360 --> 00:36:20,960
Speaker 2: won't be him.

706
00:36:21,320 --> 00:36:22,480
Speaker 27: China wants to make a deal.

707
00:36:22,880 --> 00:36:24,640
Speaker 1: They just don't know how quite to go about it.

708
00:36:24,880 --> 00:36:27,120
Speaker 5: You know, it's one of those things that don't know quite.

709
00:36:27,640 --> 00:36:29,200
Speaker 9: They're proud people President.

710
00:36:29,320 --> 00:36:30,160
Speaker 5: She's a proud man.

711
00:36:30,200 --> 00:36:32,480
Speaker 4: I know him very well, and they don't know quite

712
00:36:32,520 --> 00:36:34,319
Speaker 4: how to go about it, but they'll figure it out.

713
00:36:35,200 --> 00:36:37,080
Speaker 4: In the process of figuring it out, but they want

714
00:36:37,120 --> 00:36:37,640
Speaker 4: to make a deal.

715
00:36:38,000 --> 00:36:40,360
Speaker 2: David Man is a New Zealander who's been investing in

716
00:36:40,440 --> 00:36:42,359
Speaker 2: China for more than thirty years. He's with us from

717
00:36:42,400 --> 00:36:43,640
Speaker 2: Shanghai this evening.

718
00:36:43,760 --> 00:36:46,239
Speaker 29: David, Hello, Hello Ryan.

719
00:36:46,920 --> 00:36:50,360
Speaker 2: What do you think the chances are of China blinking first?

720
00:36:53,000 --> 00:36:56,160
Speaker 29: Well, Trump's already blinked on all the other tariffs that

721
00:36:56,280 --> 00:36:59,960
Speaker 29: he's flung at countries quite randomly, So I don't see

722
00:37:00,440 --> 00:37:04,680
Speaker 29: this is an economic argument. You know, reciprocal tariffs really

723
00:37:04,719 --> 00:37:07,680
Speaker 29: are another form of self injury. But once you get

724
00:37:07,760 --> 00:37:11,680
Speaker 29: beyond twenty or thirty percent against you, what else is

725
00:37:11,760 --> 00:37:15,040
Speaker 29: piled on doesn't really count. The whole thing is a

726
00:37:15,280 --> 00:37:18,880
Speaker 29: political push against China. So I think China's response to

727
00:37:18,960 --> 00:37:23,640
Speaker 29: date has been correct. It is reciprocated without escalation, and

728
00:37:24,400 --> 00:37:26,560
Speaker 29: it is going to sit tight. It is nothing to

729
00:37:26,680 --> 00:37:27,960
Speaker 29: gain by giving in.

730
00:37:29,239 --> 00:37:32,560
Speaker 2: So you're saying, whether it's thirty percent, forty percent, fifty percent,

731
00:37:32,680 --> 00:37:35,040
Speaker 2: or one hundred and twenty five. Once you reach a

732
00:37:35,160 --> 00:37:38,480
Speaker 2: certain point, what you just start sending your goods elsewhere.

733
00:37:39,840 --> 00:37:43,960
Speaker 29: Exactly. And China has been I guess, Trump proofing its

734
00:37:44,000 --> 00:37:48,160
Speaker 29: economy to some extent since his first term as president,

735
00:37:49,080 --> 00:37:54,520
Speaker 29: And in fact, Biden was a more efficient opponent against

736
00:37:54,640 --> 00:37:58,560
Speaker 29: China on trade in terms of applying power of surgically

737
00:37:59,080 --> 00:38:03,840
Speaker 29: blocking technology to China. But China expanded its share of

738
00:38:04,000 --> 00:38:07,640
Speaker 29: global manufacturing and trade over those eight years. So the

739
00:38:07,760 --> 00:38:11,200
Speaker 29: time we come to the second trunk term, China's already

740
00:38:11,239 --> 00:38:16,520
Speaker 29: diversified considerably. This will hurt the American Market's an important market,

741
00:38:17,600 --> 00:38:21,480
Speaker 29: But China is, apart from the eleven coastal provinces, are

742
00:38:21,520 --> 00:38:26,440
Speaker 29: developing country, and there are surges and downturns and sectors

743
00:38:26,480 --> 00:38:27,000
Speaker 29: all the time.

744
00:38:27,120 --> 00:38:28,040
Speaker 3: Factories close.

745
00:38:28,680 --> 00:38:31,800
Speaker 29: It happened throughout the ev sector. As they got to

746
00:38:31,920 --> 00:38:34,600
Speaker 29: the point of being able to produce great cars, there

747
00:38:34,719 --> 00:38:37,600
Speaker 29: was a cost of that and many fell by the wayside.

748
00:38:37,719 --> 00:38:40,480
Speaker 29: So this is a country that is accustomed to being

749
00:38:40,520 --> 00:38:45,000
Speaker 29: buffeted by such things. And it's the only counter is

750
00:38:45,040 --> 00:38:48,440
Speaker 29: any partner, a trade partner that America has that as

751
00:38:48,480 --> 00:38:53,400
Speaker 29: an internal economy that's large enough and comprehensive enough that

752
00:38:53,560 --> 00:38:55,600
Speaker 29: that can be its engine and that can carry it

753
00:38:55,719 --> 00:38:58,760
Speaker 29: through It's not as vulnerable as the other Southeast Asian

754
00:38:58,800 --> 00:38:59,399
Speaker 29: countries are.

755
00:39:00,080 --> 00:39:02,200
Speaker 2: David, what does New Zealand do in a situation like this?

756
00:39:02,360 --> 00:39:04,759
Speaker 2: You know China better than anyone in this country. What

757
00:39:04,920 --> 00:39:07,920
Speaker 2: does New Zealand What should our line be so that

758
00:39:08,080 --> 00:39:10,040
Speaker 2: we don't I mean, obviously we want to suck up

759
00:39:10,080 --> 00:39:11,680
Speaker 2: to Trump get the best deal we can, but we

760
00:39:11,719 --> 00:39:14,520
Speaker 2: don't want to alienate China. It's our biggest trading partner.

761
00:39:14,560 --> 00:39:16,320
Speaker 2: It's number one and number two, so a lot on

762
00:39:16,400 --> 00:39:17,080
Speaker 2: the line for us.

763
00:39:19,520 --> 00:39:22,880
Speaker 29: I think we have a good history and you always

764
00:39:22,920 --> 00:39:29,279
Speaker 29: hear that every round of political cycle moves, we get

765
00:39:29,320 --> 00:39:31,800
Speaker 29: a new government and they've got bigger challenges of the

766
00:39:31,840 --> 00:39:34,000
Speaker 29: previous ones, which I don't agree with. I think there's

767
00:39:34,040 --> 00:39:39,640
Speaker 29: something which it's just a truism helping Clark's administration. John

768
00:39:39,719 --> 00:39:44,479
Speaker 29: Keebill English's administration was very good at managing the China

769
00:39:44,520 --> 00:39:48,479
Speaker 29: relationship with the America relationship by not reacting to either,

770
00:39:49,560 --> 00:39:53,520
Speaker 29: by basically maintaining our non alige status, which doesn't mean

771
00:39:53,560 --> 00:39:56,480
Speaker 29: we suck up to anybody. And we did deals, and

772
00:39:56,600 --> 00:39:59,320
Speaker 29: we did deals as a country with little agency, but

773
00:39:59,440 --> 00:40:01,960
Speaker 29: we're respect that when we were in that position. I

774
00:40:02,040 --> 00:40:05,520
Speaker 29: think it's been confused in recent months under the current government,

775
00:40:06,320 --> 00:40:08,600
Speaker 29: but I see the language from Wellington in the last

776
00:40:09,360 --> 00:40:13,960
Speaker 29: I say, two months has been pretty sensible. So I

777
00:40:14,120 --> 00:40:17,600
Speaker 29: think that we have a government and a national party

778
00:40:17,640 --> 00:40:21,200
Speaker 29: can look back on its predecessor administration, learn from that,

779
00:40:21,360 --> 00:40:25,719
Speaker 29: take advice from that, and we don't need to reciprocate.

780
00:40:26,680 --> 00:40:29,640
Speaker 29: We've had a tariff slapped on us. Whatever we do next,

781
00:40:30,400 --> 00:40:32,840
Speaker 29: it's at this level we'll only hurt the New Zealand

782
00:40:32,880 --> 00:40:35,960
Speaker 29: economy further. I think we just have to accept this

783
00:40:36,120 --> 00:40:38,840
Speaker 29: for the time being, not out of weakness, but just

784
00:40:38,920 --> 00:40:43,239
Speaker 29: patiently watch because Trump is so volatile and he is

785
00:40:43,360 --> 00:40:46,000
Speaker 29: so unaware. I mean, listen to the tone of his

786
00:40:46,160 --> 00:40:49,480
Speaker 29: language talking to China like a child that can't understand

787
00:40:50,040 --> 00:40:53,640
Speaker 29: how to deal with trade negotiations. This five thousand year

788
00:40:53,680 --> 00:40:57,080
Speaker 29: old culture, this extraordinary economy that's pulled itself out of

789
00:40:57,120 --> 00:41:00,560
Speaker 29: poverty in forty years, which would have taken two hundred

790
00:41:00,600 --> 00:41:05,560
Speaker 29: for another country. These guys know what they're doing. They

791
00:41:05,640 --> 00:41:10,560
Speaker 29: have tremendous endurance and oddly, the lack of support the

792
00:41:10,640 --> 00:41:14,480
Speaker 29: government suffered post COVID and failed to recover in the

793
00:41:14,560 --> 00:41:19,799
Speaker 29: last two years because of a slightly flatter a significantly

794
00:41:19,840 --> 00:41:24,760
Speaker 29: flat of a normal economy. We've seen our galvanization within

795
00:41:24,920 --> 00:41:29,120
Speaker 29: China around the government, and people are quite sanguine and

796
00:41:29,200 --> 00:41:32,840
Speaker 29: there's a determination, partly a defiance, that they'll make their

797
00:41:32,880 --> 00:41:35,959
Speaker 29: way through this. So I think New Zealand, as small

798
00:41:36,000 --> 00:41:39,320
Speaker 29: as we are and as little political agency as we have,

799
00:41:40,200 --> 00:41:45,000
Speaker 29: we should also not choose to act immediately and be patient.

800
00:41:45,120 --> 00:41:46,240
Speaker 3: Just watch Watson.

801
00:41:46,280 --> 00:41:49,000
Speaker 2: Wait, David, appreciate your time. David manchief executive at Man

802
00:41:49,120 --> 00:41:51,640
Speaker 2: China Investment Management. It is quarter past five year on

803
00:41:51,719 --> 00:41:54,480
Speaker 2: News Talk, said B coming up next. TikTok's been at

804
00:41:54,520 --> 00:41:58,320
Speaker 2: Parliament basically pointing the finger at you. If you're a parent.

805
00:41:58,719 --> 00:42:02,320
Speaker 2: They've been saying, hey, your kid been glued to a

806
00:42:02,400 --> 00:42:05,160
Speaker 2: phone all day. Is not our fault, it's your fault.

807
00:42:05,880 --> 00:42:08,319
Speaker 2: Plus we look at Bill Gates, the inheritance he's giving

808
00:42:08,400 --> 00:42:10,719
Speaker 2: his kids. All ahead News Talk CREB. It is five

809
00:42:10,760 --> 00:42:14,080
Speaker 2: to eighteen Ryan, I sincerely hope David's you can imagine

810
00:42:14,120 --> 00:42:16,640
Speaker 2: the text machine's gone nuts since we had David Cymour

811
00:42:16,680 --> 00:42:20,400
Speaker 2: on just saying that he will consider They are considering

812
00:42:20,520 --> 00:42:23,759
Speaker 2: taking the Treaty Principal's Bill, which has just been voted down,

813
00:42:24,239 --> 00:42:28,040
Speaker 2: taking that issue as a referendum, a bottom line and

814
00:42:28,120 --> 00:42:31,000
Speaker 2: any coalition agreement they might sign after the next election.

815
00:42:31,120 --> 00:42:33,480
Speaker 2: Ran I sincerely hope David Seymour takes the Treaty Bill

816
00:42:33,520 --> 00:42:36,200
Speaker 2: to the election as an absolute bottom line. I so

817
00:42:36,360 --> 00:42:38,640
Speaker 2: admire his courage and will never vote for National after

818
00:42:38,719 --> 00:42:40,919
Speaker 2: this Sham, I suspect act will be having a much

819
00:42:41,360 --> 00:42:43,799
Speaker 2: large as say next time round. That's from John. It's

820
00:42:43,840 --> 00:42:47,040
Speaker 2: just gone nineteen after five ran Bridge. TikTok's been at

821
00:42:47,040 --> 00:42:50,080
Speaker 2: Parliament today. They obviously don't want to be regulated no media,

822
00:42:50,200 --> 00:42:52,800
Speaker 2: well no company generally wants to be regulated, but particularly

823
00:42:52,840 --> 00:42:55,799
Speaker 2: not TikTok. So what they did is commission research from

824
00:42:55,840 --> 00:42:59,319
Speaker 2: Toolbrook Mills and they found that only one in three

825
00:42:59,520 --> 00:43:03,879
Speaker 2: parents have rules for their children around social media, which

826
00:43:03,920 --> 00:43:06,160
Speaker 2: is interesting because you hear parents say all the time,

827
00:43:06,360 --> 00:43:09,600
Speaker 2: well my kids, you know, turn into a zombie because

828
00:43:09,600 --> 00:43:11,320
Speaker 2: they're on their phone all the time. Well, actually, do

829
00:43:11,440 --> 00:43:14,080
Speaker 2: we have the rules in place? Makes sense. As an

830
00:43:14,120 --> 00:43:17,279
Speaker 2: advocacy group for children online safety co found a Hollybrookers

831
00:43:17,280 --> 00:43:20,400
Speaker 2: with me now, Holly, good evening, good evening, Good to

832
00:43:20,480 --> 00:43:22,440
Speaker 2: have you here. Are you surprised to hear that number?

833
00:43:24,040 --> 00:43:26,640
Speaker 30: Oh yeah, yeah, I am surprised to hear that number.

834
00:43:26,719 --> 00:43:31,080
Speaker 30: It doesn't it doesn't really reflect what is happening for

835
00:43:31,160 --> 00:43:32,640
Speaker 30: our parents and for our young people.

836
00:43:33,200 --> 00:43:34,439
Speaker 2: So you think the number is wrong.

837
00:43:35,680 --> 00:43:41,160
Speaker 30: So I'm really sorry, but can you repeat the sorry

838
00:43:41,280 --> 00:43:42,120
Speaker 30: you said?

839
00:43:42,160 --> 00:43:43,000
Speaker 4: I actually got a bit.

840
00:43:43,000 --> 00:43:43,320
Speaker 21: Mud of that.

841
00:43:43,719 --> 00:43:47,560
Speaker 2: One in three parents have rules around their children's social

842
00:43:47,680 --> 00:43:51,080
Speaker 2: media in place. This is what according to the tool

843
00:43:51,080 --> 00:43:53,160
Speaker 2: bott Mills. So so, in other words, two thirds of

844
00:43:53,280 --> 00:43:55,640
Speaker 2: parents potentially don't have rules.

845
00:43:55,680 --> 00:43:58,960
Speaker 30: AA oh yeah, yeah, yeah, sorry, yeah, I mean, I

846
00:43:59,040 --> 00:44:01,120
Speaker 30: think that this is an area that parents are really

847
00:44:01,160 --> 00:44:03,960
Speaker 30: struggling with, and parents, you know, and that your education

848
00:44:04,239 --> 00:44:07,000
Speaker 30: work that I do, parents are really struggling to keep

849
00:44:07,120 --> 00:44:09,120
Speaker 30: up and to put boundaries in place because there's so

850
00:44:09,280 --> 00:44:12,200
Speaker 30: many platforms and where you know, we're really encouraged parents

851
00:44:12,239 --> 00:44:14,399
Speaker 30: to use prind or controls and put boundaries in place,

852
00:44:14,480 --> 00:44:18,399
Speaker 30: but it is hard to implement that on across many

853
00:44:18,440 --> 00:44:22,560
Speaker 30: different platforms and devices. And often, you know, parents actually

854
00:44:22,600 --> 00:44:26,080
Speaker 30: aren't that aware of what their kids are doing online.

855
00:44:26,200 --> 00:44:31,000
Speaker 30: And you know, I have many stories appearances principles talking

856
00:44:31,040 --> 00:44:32,960
Speaker 30: to me and saying appearances don't actually think their kids

857
00:44:32,960 --> 00:44:35,400
Speaker 30: are on social media, and they find out that they

858
00:44:35,440 --> 00:44:38,520
Speaker 30: are when something unfolds with students at school. So you know,

859
00:44:38,640 --> 00:44:42,040
Speaker 30: it's you've got to take these these types of results

860
00:44:42,080 --> 00:44:42,919
Speaker 30: with the grain of salt.

861
00:44:43,160 --> 00:44:45,120
Speaker 2: But isn't that I mean, can you as a parent

862
00:44:45,200 --> 00:44:48,080
Speaker 2: pleaded naivety? You know, isn't it your job to know

863
00:44:48,320 --> 00:44:51,359
Speaker 2: what you're especially if they're eleven, twelve, thirteen, I mean,

864
00:44:51,360 --> 00:44:54,600
Speaker 2: they're the biggest liars under the sun, you know, is

865
00:44:54,680 --> 00:44:55,680
Speaker 2: it your job to know?

866
00:44:56,880 --> 00:44:59,520
Speaker 30: Yeah? I think, you know, it's really important that as

867
00:44:59,600 --> 00:45:02,080
Speaker 30: parents we step up and that we engage with the

868
00:45:02,680 --> 00:45:05,719
Speaker 30: with what's happening online, with conversations with our kids, and

869
00:45:05,760 --> 00:45:09,839
Speaker 30: we actually understand what's happening in the space. But to date,

870
00:45:09,920 --> 00:45:12,720
Speaker 30: there hasn't been a lot of conversation around the harms

871
00:45:12,840 --> 00:45:15,600
Speaker 30: that are happening online for our young people. And it's

872
00:45:15,680 --> 00:45:18,400
Speaker 30: great that we're kind of really starting to have some good,

873
00:45:18,520 --> 00:45:21,239
Speaker 30: robust conversations about that. But in saying that, where many

874
00:45:21,320 --> 00:45:23,160
Speaker 30: years behind the rest of the world in terms of

875
00:45:23,560 --> 00:45:25,640
Speaker 30: many countries around the world, I should say, in terms

876
00:45:25,680 --> 00:45:30,480
Speaker 30: of actually putting any kind of systemic kind of measures

877
00:45:30,520 --> 00:45:32,480
Speaker 30: in place to manage this. But you know, it is

878
00:45:32,520 --> 00:45:35,759
Speaker 30: a printal responsibility, but it's also bigger than that. It's

879
00:45:36,320 --> 00:45:39,799
Speaker 30: it's really difficult for parents to manage tech, and it's exploded,

880
00:45:40,239 --> 00:45:43,040
Speaker 30: you know, with normalized giving our kids' phones very young

881
00:45:43,120 --> 00:45:45,600
Speaker 30: and giving them access to everything on the internet, and

882
00:45:45,680 --> 00:45:47,200
Speaker 30: we do need to scale that back, but I do

883
00:45:47,400 --> 00:45:50,200
Speaker 30: think that we need more support from a kind of

884
00:45:50,320 --> 00:45:51,360
Speaker 30: regulatory approach.

885
00:45:51,440 --> 00:45:54,120
Speaker 2: But both Holly, thank you for that. Hollybrooker makes sense,

886
00:45:54,200 --> 00:45:56,680
Speaker 2: co founder on TikTok, heading to Parliament today. Twenty two

887
00:45:56,680 --> 00:46:00,719
Speaker 2: minutes after five Brian speaking of parents, if you had

888
00:46:00,760 --> 00:46:02,719
Speaker 2: to switch your parent out for anyone, it would be

889
00:46:03,040 --> 00:46:06,920
Speaker 2: Bill Gates, wouldn't it for no other reason than the inheritance.

890
00:46:07,400 --> 00:46:10,560
Speaker 2: So Bill Gates has come out and said he will.

891
00:46:11,160 --> 00:46:13,279
Speaker 2: He's revealed to everybody what he's going to give his

892
00:46:13,400 --> 00:46:16,040
Speaker 2: kids because of you know, everyone kind of wants to know,

893
00:46:16,680 --> 00:46:18,879
Speaker 2: and he's come out and he said, don't worry, I'm

894
00:46:18,920 --> 00:46:20,600
Speaker 2: not going to be one of those people who creates

895
00:46:20,600 --> 00:46:24,040
Speaker 2: a family dynasty. You know, with my fortune handed down

896
00:46:24,080 --> 00:46:26,960
Speaker 2: to all my kids, I'm only giving them less than

897
00:46:27,040 --> 00:46:30,280
Speaker 2: one percent. He said. My kid's got a great upbringing

898
00:46:30,320 --> 00:46:32,319
Speaker 2: and education, but less than one percent of the total

899
00:46:32,360 --> 00:46:35,040
Speaker 2: wealth because I decided it wouldn't be a favor to them.

900
00:46:35,760 --> 00:46:39,160
Speaker 2: Before you feel sorry for these poor, hard done by

901
00:46:39,719 --> 00:46:42,960
Speaker 2: ill treated children. Bill Gates' wealth is currently estimated to

902
00:46:42,960 --> 00:46:44,840
Speaker 2: be one hundred and two billion US dollars right This

903
00:46:44,880 --> 00:46:47,040
Speaker 2: is according to Ford, So one percent is just one

904
00:46:47,160 --> 00:46:50,880
Speaker 2: billion dollars divided by three kids. Not a bad payday,

905
00:46:51,360 --> 00:46:53,399
Speaker 2: Not a bad pay day at all. Twenty three after

906
00:46:53,480 --> 00:46:54,560
Speaker 2: five Newstalk, sa'd.

907
00:46:54,400 --> 00:46:58,480
Speaker 3: Be informed inside into today's issues.

908
00:46:58,960 --> 00:47:02,520
Speaker 1: It's Ryan Bridge on Heather Duplicy Ellen drive with one

909
00:47:02,640 --> 00:47:05,520
Speaker 1: New Zealand let's get connected news talks.

910
00:47:05,520 --> 00:47:06,799
Speaker 2: They'd be five.

911
00:47:06,920 --> 00:47:07,440
Speaker 9: Twenty six.

912
00:47:07,600 --> 00:47:10,160
Speaker 2: There's an annoying thing happening in politics at the moment.

913
00:47:10,239 --> 00:47:12,360
Speaker 2: And I've watched politics my whole life and I love it,

914
00:47:12,600 --> 00:47:15,400
Speaker 2: but because of the debates and the ideas and the arguments.

915
00:47:15,840 --> 00:47:19,759
Speaker 2: But politicians are collecting hundreds of thousands of dollars from

916
00:47:19,840 --> 00:47:23,200
Speaker 2: US taxpayers and ratepayers as well, and they aren't turning

917
00:47:23,320 --> 00:47:26,120
Speaker 2: up to work, or when they do turn up, they

918
00:47:26,200 --> 00:47:29,680
Speaker 2: come with wackadoo ideas they've picked up on TikTok. A

919
00:47:29,760 --> 00:47:32,280
Speaker 2: Gibsbane Council is the latest one in the news today.

920
00:47:32,560 --> 00:47:35,600
Speaker 2: Nick Tupater is his name, paid forty thousand dollars a year.

921
00:47:35,640 --> 00:47:39,160
Speaker 2: Since October. He's been attending forty one percent of meetings.

922
00:47:40,000 --> 00:47:44,399
Speaker 2: Terrible number. He's not there more than he is there now.

923
00:47:44,640 --> 00:47:48,800
Speaker 2: Usually most kiwis, most good, hard working kiwis, like the

924
00:47:48,880 --> 00:47:51,400
Speaker 2: rest of us, would feel shame if they had a

925
00:47:51,480 --> 00:47:56,080
Speaker 2: record like that. They'd be embarrassed, but apologized, apologized to us.

926
00:47:56,120 --> 00:47:59,960
Speaker 2: They'd make it right. Not this counselor. He blamed every

927
00:48:00,120 --> 00:48:03,520
Speaker 2: one but himself. He said he didn't understand why it

928
00:48:03,600 --> 00:48:06,360
Speaker 2: was such an issue. He said he was still technically

929
00:48:06,440 --> 00:48:10,480
Speaker 2: within the rules. Who cares? He said the council needed

930
00:48:10,520 --> 00:48:13,600
Speaker 2: to take responsibility, not him. The council needed to take

931
00:48:13,640 --> 00:48:18,439
Speaker 2: responsibility because of quote, technical problems notifying members there would

932
00:48:18,480 --> 00:48:22,239
Speaker 2: be a meeting. Come on, the dog ate my homework.

933
00:48:23,320 --> 00:48:26,040
Speaker 2: This doesn't stack up, of course, why because the rest

934
00:48:26,080 --> 00:48:27,680
Speaker 2: of the council has managed to make it to eighty

935
00:48:27,680 --> 00:48:30,680
Speaker 2: percent of the meetings, So why couldn't he and why

936
00:48:30,800 --> 00:48:34,759
Speaker 2: can't he take responsibility? Same goes for the Greens. You

937
00:48:34,880 --> 00:48:38,080
Speaker 2: break the rules, you break the law, you shout in

938
00:48:38,160 --> 00:48:41,520
Speaker 2: somebody's face, you grab a constituent by the arm in

939
00:48:41,600 --> 00:48:43,719
Speaker 2: the park. You're not a thug, you're not a crook,

940
00:48:43,760 --> 00:48:47,880
Speaker 2: You're a victim. You're in Parliament to be your authentic self.

941
00:48:48,000 --> 00:48:50,799
Speaker 2: Remember you're speaking your truth and you can do no wrong.

942
00:48:51,520 --> 00:48:54,920
Speaker 2: The multi party MP seats are regularly empty in the house.

943
00:48:55,560 --> 00:48:57,600
Speaker 2: Debbie took off for a holiday and the cooks the

944
00:48:57,680 --> 00:49:00,920
Speaker 2: other month with her husband on a sitting week. And

945
00:49:01,520 --> 00:49:04,919
Speaker 2: remember the house only sits for ninety days a year,

946
00:49:05,600 --> 00:49:09,000
Speaker 2: ninety days out of three hundred and sixty five. Unless

947
00:49:09,000 --> 00:49:11,759
Speaker 2: there's a TikTok moment to be had, there's nowhere to

948
00:49:11,840 --> 00:49:15,960
Speaker 2: be seen. It's annoying, it's expensive, and people are sick

949
00:49:16,000 --> 00:49:18,759
Speaker 2: of it. Worst of all, for the rest of us,

950
00:49:19,160 --> 00:49:22,440
Speaker 2: it's very difficult to have a true contest of ideas

951
00:49:22,920 --> 00:49:23,839
Speaker 2: with an empty chair.

952
00:49:24,680 --> 00:49:26,400
Speaker 3: Bryan Bridge twenty.

953
00:49:26,120 --> 00:49:29,319
Speaker 2: Eight, after five News Talks, he'd be this textas says Ryan,

954
00:49:29,440 --> 00:49:31,279
Speaker 2: parents are happy to give their kids an iPad for

955
00:49:31,360 --> 00:49:33,960
Speaker 2: sanity at a very early age. Of course, they have

956
00:49:34,040 --> 00:49:37,000
Speaker 2: responsibility for looking after their kids online. I agree with that.

957
00:49:37,600 --> 00:49:39,000
Speaker 2: Thing is it's easy for me to say because I

958
00:49:39,000 --> 00:49:44,600
Speaker 2: don't have kids, so I blame you parents. Anyway, we'll

959
00:49:44,640 --> 00:49:46,520
Speaker 2: be back with the huddle afternoons News Talks.

960
00:49:46,520 --> 00:49:54,400
Speaker 5: Hed b fvedays we can go forever till you lasted

961
00:49:54,560 --> 00:49:55,160
Speaker 5: it out.

962
00:49:57,600 --> 00:49:59,880
Speaker 3: On the iHeart app and in your car, on your

963
00:50:00,120 --> 00:50:00,600
Speaker 3: drive home.

964
00:50:01,120 --> 00:50:04,759
Speaker 1: It's Ryan Bridge on Heather dupericy Allen Drive with one

965
00:50:04,880 --> 00:50:07,720
Speaker 1: New Zealand let's get connected news talks.

966
00:50:07,719 --> 00:50:08,040
Speaker 3: They'd be.

967
00:50:17,320 --> 00:50:19,480
Speaker 2: Twenty four away from six Yer on news talks. There

968
00:50:19,480 --> 00:50:22,360
Speaker 2: would be Ellie Jones and Jordan Williams from the taxpace

969
00:50:22,400 --> 00:50:24,400
Speaker 2: and then standing by on the huddle. Ironically, I just

970
00:50:24,520 --> 00:50:27,759
Speaker 2: mentioned in my editorial before the news that people in

971
00:50:27,920 --> 00:50:32,920
Speaker 2: politicians in particular are taking them mickey. They're all skiving off,

972
00:50:33,080 --> 00:50:35,600
Speaker 2: not going to work, still getting paid and not really

973
00:50:35,680 --> 00:50:38,920
Speaker 2: caring about the consequences. And then lo and behold Allie Jones,

974
00:50:38,960 --> 00:50:41,920
Speaker 2: who's a Christi at city councilor she's going to have

975
00:50:42,000 --> 00:50:44,000
Speaker 2: to step out of a council meeting to talk to us.

976
00:50:44,520 --> 00:50:47,479
Speaker 2: And Karen MacNulty who's standing by, he's our next guest.

977
00:50:47,800 --> 00:50:49,640
Speaker 2: He's actually had to steep out of the house to

978
00:50:49,680 --> 00:50:52,240
Speaker 2: speak to us. So we're kind of part of the problem,

979
00:50:52,280 --> 00:50:54,799
Speaker 2: aren't we, Although at least you know they're working, they're

980
00:50:54,840 --> 00:50:58,920
Speaker 2: doing something. You know, they're informing the public, carrying out duties,

981
00:50:59,000 --> 00:51:02,279
Speaker 2: just not just outside of the meetings they should begin Lord.

982
00:51:02,400 --> 00:51:06,600
Speaker 2: Apparently in a comeback error, she's wiped your social media

983
00:51:06,640 --> 00:51:08,600
Speaker 2: apart from a clip that posts. She posted on her

984
00:51:08,640 --> 00:51:13,400
Speaker 2: TikTok account this morning, teasing new music. Have a listen seventeen.

985
00:51:14,040 --> 00:51:17,920
Speaker 3: I gave you everything now that we wake from a dream. Well, baby,

986
00:51:18,280 --> 00:51:19,479
Speaker 3: what was done?

987
00:51:27,640 --> 00:51:27,799
Speaker 31: There?

988
00:51:27,840 --> 00:51:28,000
Speaker 3: You go?

989
00:51:28,360 --> 00:51:31,200
Speaker 2: That's all she gave us. So does it sound like

990
00:51:31,239 --> 00:51:31,960
Speaker 2: a breakup song?

991
00:51:32,360 --> 00:51:32,759
Speaker 28: I don't know.

992
00:51:33,239 --> 00:51:35,440
Speaker 2: All of her songs sound upbeat, but are quite sad

993
00:51:35,480 --> 00:51:37,920
Speaker 2: actually when you read the lyrics, so maybe it's more

994
00:51:37,960 --> 00:51:40,160
Speaker 2: of that. Anyway, She's living in the US apparently the

995
00:51:40,200 --> 00:51:43,440
Speaker 2: past few months, rumored to be finishing off new music

996
00:51:43,480 --> 00:51:46,240
Speaker 2: for a new album. Twenty two to two six Ryan

997
00:51:46,320 --> 00:51:48,760
Speaker 2: Bridge A bill to make it easier to buy booze

998
00:51:48,760 --> 00:51:50,960
Speaker 2: on public holidays. Who doesn't like the sound of this

999
00:51:51,080 --> 00:51:53,880
Speaker 2: already has passed its first reading in Parliament. If the

1000
00:51:53,960 --> 00:51:56,960
Speaker 2: bill becomes law, licensed premises will be able to sell

1001
00:51:57,000 --> 00:52:01,880
Speaker 2: alcohol on Christmas Day, Easter Weekend and Anzac Day without restriction,

1002
00:52:02,360 --> 00:52:04,319
Speaker 2: so long as the business is legally allowed to open

1003
00:52:04,400 --> 00:52:07,520
Speaker 2: on these days. Anyway, the bill went to a conscience vote.

1004
00:52:07,640 --> 00:52:12,040
Speaker 2: While it passed sixty seven fifty four, some of Kieren

1005
00:52:12,120 --> 00:52:16,120
Speaker 2: McNulty's labor colleagues voted against it. The laboring Peace with

1006
00:52:16,200 --> 00:52:20,160
Speaker 2: Us Now Kieren good evening. Hey, here go, who's against

1007
00:52:20,400 --> 00:52:22,319
Speaker 2: a bear on Anzac Day?

1008
00:52:24,800 --> 00:52:28,000
Speaker 31: Mala. I think we've got to recognize that for a

1009
00:52:28,080 --> 00:52:32,560
Speaker 31: lot of people, Easter and Christmas is really important and

1010
00:52:32,719 --> 00:52:36,800
Speaker 31: any suggestion of a change on that is a difficult prospect.

1011
00:52:37,640 --> 00:52:40,080
Speaker 31: And actually this has been debated in Parliament many, many

1012
00:52:40,160 --> 00:52:43,000
Speaker 31: times and we've never got it to Select comittee. But

1013
00:52:43,840 --> 00:52:45,880
Speaker 31: I thought about this bill quite a lot and was

1014
00:52:46,000 --> 00:52:50,040
Speaker 31: really specific about what I'm proposing. Only those businesses that

1015
00:52:50,239 --> 00:52:53,560
Speaker 31: already open, So the pubs and the restaurants that already

1016
00:52:53,600 --> 00:52:56,520
Speaker 31: open on Good Friday and Easter Sunday but have to

1017
00:52:56,600 --> 00:52:58,920
Speaker 31: go through this brigmarole of making sure someone's had a

1018
00:52:58,960 --> 00:53:01,879
Speaker 31: meal before they let them buy a pint. Only those

1019
00:53:02,080 --> 00:53:04,200
Speaker 31: are the ones that will be affected. And all I'm

1020
00:53:04,239 --> 00:53:06,600
Speaker 31: saying is they should just if they're already legally able

1021
00:53:06,640 --> 00:53:08,680
Speaker 31: to open, they should operate like they do every other

1022
00:53:08,760 --> 00:53:09,200
Speaker 31: day the year.

1023
00:53:09,440 --> 00:53:12,680
Speaker 2: Does that get the unions on side because theyre worry

1024
00:53:12,840 --> 00:53:16,200
Speaker 2: is you know you have people opening that otherwise wouldn't open,

1025
00:53:16,400 --> 00:53:18,160
Speaker 2: and then the staff are forced to work.

1026
00:53:19,440 --> 00:53:22,359
Speaker 31: Well, the thing is that we have guaranteed days off

1027
00:53:22,440 --> 00:53:25,160
Speaker 31: for most workers, and it's only a couple of year,

1028
00:53:25,719 --> 00:53:28,480
Speaker 31: and any prospect of changing that is a big deal

1029
00:53:28,560 --> 00:53:30,840
Speaker 31: in a much larger conversation than what I'm talking about.

1030
00:53:31,160 --> 00:53:33,680
Speaker 31: The fact is that only businesses that are already open

1031
00:53:33,760 --> 00:53:35,920
Speaker 31: and therefore workers that are already working, and in fact,

1032
00:53:35,960 --> 00:53:39,439
Speaker 31: I tell you what I've spoken to, hospitality workers will

1033
00:53:39,480 --> 00:53:42,040
Speaker 31: be pleased to be operating under the rules that they've

1034
00:53:42,040 --> 00:53:43,759
Speaker 31: been trained under for the rest of the year, rather

1035
00:53:43,800 --> 00:53:47,200
Speaker 31: than monitoring what someone's eaten in the last hour window

1036
00:53:47,320 --> 00:53:49,160
Speaker 31: before they know whether they can serve them a pint

1037
00:53:49,280 --> 00:53:49,400
Speaker 31: or not.

1038
00:53:50,160 --> 00:53:52,000
Speaker 2: Are you do you reckon that you'll get the same

1039
00:53:52,040 --> 00:53:53,560
Speaker 2: amount of support on the second reading.

1040
00:53:54,520 --> 00:53:57,360
Speaker 31: I hope so. I was really clear with other MPs

1041
00:53:57,440 --> 00:53:59,879
Speaker 31: last night when we debated the bill. I just want

1042
00:53:59,880 --> 00:54:02,120
Speaker 31: to be pragmatic. I'm conscious that we've never had any

1043
00:54:02,200 --> 00:54:05,000
Speaker 31: movement in this area, and if it turns out that

1044
00:54:05,200 --> 00:54:09,240
Speaker 31: the majority of MPs are uncomfortable with Christmas Day being included,

1045
00:54:09,480 --> 00:54:11,200
Speaker 31: I'll take it out. I don't care. I just want

1046
00:54:11,239 --> 00:54:14,839
Speaker 31: to see some movement in this area. The end that day.

1047
00:54:14,880 --> 00:54:17,440
Speaker 31: Morning one is particularly important to me. I don't think

1048
00:54:17,560 --> 00:54:19,839
Speaker 31: IRSA should have to go through the process of getting

1049
00:54:19,880 --> 00:54:23,000
Speaker 31: a special license just to give veterans a drink after

1050
00:54:23,080 --> 00:54:26,439
Speaker 31: a dawn service or a civic service in mid morning.

1051
00:54:26,520 --> 00:54:29,160
Speaker 31: I think that's silly. They should be able to operate

1052
00:54:29,239 --> 00:54:30,600
Speaker 31: like they do in any other day of the year.

1053
00:54:31,080 --> 00:54:35,680
Speaker 2: You need a job at David Seymour's regulation bashing ministry.

1054
00:54:35,719 --> 00:54:37,760
Speaker 2: That sounds like it's been right up as Ellie, Karen,

1055
00:54:38,480 --> 00:54:41,600
Speaker 2: appreciate your time. Karen mcinaally from Parliament, will let you

1056
00:54:41,800 --> 00:54:44,600
Speaker 2: get back into the house. It is nineteen away from six.

1057
00:54:45,320 --> 00:54:48,640
Speaker 1: The huddle with New Zealand Southeby's International Realty the ones

1058
00:54:48,719 --> 00:54:51,720
Speaker 1: with worldwide connections that perform, not promise.

1059
00:54:52,120 --> 00:54:55,160
Speaker 2: Alie Jones read pr with us Hey, Ellie good a

1060
00:54:55,400 --> 00:54:57,360
Speaker 2: hell a good thank you, and Jordan Williams from the

1061
00:54:57,400 --> 00:55:00,680
Speaker 2: Taxpayers and in Jordan good evening, good a guy. Let's

1062
00:55:00,680 --> 00:55:04,520
Speaker 2: start with the attendance issue. This Gisbane counselor who's only

1063
00:55:04,560 --> 00:55:06,880
Speaker 2: turned up and since October I think it was forty

1064
00:55:06,920 --> 00:55:09,320
Speaker 2: one percent of meetings. Elie, you obviously go to a

1065
00:55:09,400 --> 00:55:12,040
Speaker 2: lot of these. How many would you know? What would

1066
00:55:12,080 --> 00:55:12,840
Speaker 2: your percentage be?

1067
00:55:13,960 --> 00:55:14,040
Speaker 5: Oh?

1068
00:55:14,080 --> 00:55:16,360
Speaker 32: I had a look the other day, actually, and I

1069
00:55:16,640 --> 00:55:20,600
Speaker 32: think I've missed one. I think I've missed one. And

1070
00:55:21,320 --> 00:55:25,000
Speaker 32: in fact, the attendance level and record of both city

1071
00:55:25,040 --> 00:55:28,719
Speaker 32: councilors and community bar members is pretty good. There is

1072
00:55:28,840 --> 00:55:31,239
Speaker 32: one guy who was who had a similar one to this,

1073
00:55:31,400 --> 00:55:33,439
Speaker 32: chaps about forty nine percent. But I mean the point

1074
00:55:33,520 --> 00:55:35,759
Speaker 32: is I don't think there should be a mandatory requirement.

1075
00:55:36,280 --> 00:55:40,720
Speaker 32: There are, well, there are guidelines already in the standing

1076
00:55:40,880 --> 00:55:43,319
Speaker 32: orders that says you know, you miss more than two

1077
00:55:43,480 --> 00:55:45,880
Speaker 32: or three in a row and then they start asking

1078
00:55:46,000 --> 00:55:49,919
Speaker 32: questions and looking at you know what you doing gism Yeah,

1079
00:55:49,960 --> 00:55:51,319
Speaker 32: well exactly.

1080
00:55:51,040 --> 00:55:52,759
Speaker 27: Exactly but laid back life.

1081
00:55:53,000 --> 00:55:53,200
Speaker 10: Yeah.

1082
00:55:53,200 --> 00:55:55,840
Speaker 32: But the point is the point is when we're not

1083
00:55:55,920 --> 00:55:59,720
Speaker 32: employees either, we're self employed, and so if people believe

1084
00:55:59,719 --> 00:56:01,719
Speaker 32: that they can do the job at attending forty nine

1085
00:56:01,800 --> 00:56:05,000
Speaker 32: for us being there five percent, well actually some of

1086
00:56:05,040 --> 00:56:07,640
Speaker 32: the stuff we do is just waffle to be Frank

1087
00:56:07,800 --> 00:56:09,880
Speaker 32: Jordan and you will know this as well. So I

1088
00:56:09,920 --> 00:56:11,600
Speaker 32: don't think it should be mandatory. I think if it's

1089
00:56:11,600 --> 00:56:14,920
Speaker 32: affecting someone's ability to do the job, where it becomes

1090
00:56:15,040 --> 00:56:17,360
Speaker 32: an issue is that voting time, and that's when the

1091
00:56:17,400 --> 00:56:18,480
Speaker 32: public can have their say.

1092
00:56:19,719 --> 00:56:22,719
Speaker 27: Well, I mean you're known as always there ally and

1093
00:56:23,000 --> 00:56:25,520
Speaker 27: good on you, but I mean from a ratepayer perspective,

1094
00:56:26,080 --> 00:56:28,879
Speaker 27: you know you are, you might not consider it a job.

1095
00:56:28,920 --> 00:56:31,359
Speaker 27: It's not you're not employed, but you should be there.

1096
00:56:31,560 --> 00:56:34,759
Speaker 27: And if some of the meetings are waffling on or

1097
00:56:34,840 --> 00:56:37,360
Speaker 27: not worth the time, and look, I agree with that,

1098
00:56:37,480 --> 00:56:40,880
Speaker 27: but that's actually the role of the council as the

1099
00:56:40,960 --> 00:56:45,680
Speaker 27: governing body, like any board, to instruct the officials on

1100
00:56:45,800 --> 00:56:49,080
Speaker 27: what they want one information they want and what decisions

1101
00:56:49,080 --> 00:56:52,000
Speaker 27: they want to be making and don't need. They're not

1102
00:56:52,080 --> 00:56:56,160
Speaker 27: doing it though, Jordan's and all this Chapman and Gismond,

1103
00:56:56,200 --> 00:56:59,239
Speaker 27: you know, never then Nicks only churning up forty percent

1104
00:56:59,320 --> 00:57:02,080
Speaker 27: of the time. I'm sorry, he's clearly not doing the

1105
00:57:02,200 --> 00:57:04,160
Speaker 27: job and if he wants to continue to stand, it's

1106
00:57:04,239 --> 00:57:07,800
Speaker 27: not unreasonable. Hey Ellie taking home six figures to be

1107
00:57:08,520 --> 00:57:09,240
Speaker 27: to turn out.

1108
00:57:09,120 --> 00:57:11,319
Speaker 2: Ellie, I'm interested. You know when you said a lot

1109
00:57:11,400 --> 00:57:12,560
Speaker 2: of the meetings are waffle?

1110
00:57:13,160 --> 00:57:13,360
Speaker 3: Is that?

1111
00:57:14,719 --> 00:57:16,800
Speaker 2: Why is that? And can you not change it so

1112
00:57:16,960 --> 00:57:18,640
Speaker 2: that there's not so much waffle?

1113
00:57:19,000 --> 00:57:21,600
Speaker 32: This is why I'm running for council, Ryan. There's little

1114
00:57:21,640 --> 00:57:24,480
Speaker 32: I can do on community board, but actually, you know,

1115
00:57:25,000 --> 00:57:27,760
Speaker 32: we do need to change that. I'm sick to death

1116
00:57:27,800 --> 00:57:30,200
Speaker 32: of reading a paragraph when it could be said in

1117
00:57:30,360 --> 00:57:32,640
Speaker 32: four words, and I know that that's a little different

1118
00:57:32,720 --> 00:57:35,240
Speaker 32: to well no, that is waffle. There go, there's a

1119
00:57:35,320 --> 00:57:38,320
Speaker 32: definition of waffle. And so yes, there are a lot of,

1120
00:57:38,480 --> 00:57:41,520
Speaker 32: in my opinion, unnecessary meetings. There are meetings that could

1121
00:57:41,560 --> 00:57:45,360
Speaker 32: be done as zoom or as distant meetings done online,

1122
00:57:46,000 --> 00:57:48,080
Speaker 32: far better ways of doing things. Sitting on your bum

1123
00:57:48,200 --> 00:57:50,200
Speaker 32: for eight hours a day does not make you funny.

1124
00:57:50,280 --> 00:57:51,320
Speaker 32: You a member of a government, I need.

1125
00:57:51,400 --> 00:57:53,840
Speaker 2: I mentioned that Jordan. I've always liked the idea of

1126
00:57:53,920 --> 00:57:57,960
Speaker 2: stand up meetings. There was an it guy who started

1127
00:57:58,040 --> 00:58:00,560
Speaker 2: nineteen business I can't remember which one the big ones,

1128
00:58:00,640 --> 00:58:02,840
Speaker 2: and he was a big fan of those, because people

1129
00:58:03,080 --> 00:58:05,640
Speaker 2: are tired and they get the meeting over and done with.

1130
00:58:06,880 --> 00:58:07,080
Speaker 28: Yeah.

1131
00:58:07,080 --> 00:58:11,200
Speaker 27: I had to laugh at the at Wayne, the Auckland mayor,

1132
00:58:11,560 --> 00:58:13,960
Speaker 27: getting in trouble for doing a zoom call from his car.

1133
00:58:15,440 --> 00:58:17,360
Speaker 27: I have to admit, when I'm running late, I put

1134
00:58:17,440 --> 00:58:20,520
Speaker 27: on obviously not staring into the into the video screen,

1135
00:58:20,800 --> 00:58:22,560
Speaker 27: but I turn it on on the hands free to

1136
00:58:23,360 --> 00:58:25,600
Speaker 27: join our stand up calls in the morning, because that's

1137
00:58:25,720 --> 00:58:29,040
Speaker 27: that's what sort of normal people with jobs do. The

1138
00:58:29,120 --> 00:58:30,960
Speaker 27: idea that you're not turning up to two thirds of

1139
00:58:31,000 --> 00:58:34,320
Speaker 27: the meetings though, but taking the full salary. I'm sorry

1140
00:58:34,360 --> 00:58:37,520
Speaker 27: Alibat that's why local government has such a bad reputation.

1141
00:58:38,240 --> 00:58:40,560
Speaker 32: Let me just currently, let me just make clear that

1142
00:58:40,760 --> 00:58:44,720
Speaker 32: is an extreme, That is an absolute extreme. But I

1143
00:58:44,800 --> 00:58:46,720
Speaker 32: don't think we should be measured on how many times

1144
00:58:46,800 --> 00:58:48,160
Speaker 32: we turn up to a meeting and sit on our

1145
00:58:48,200 --> 00:58:49,320
Speaker 32: bums for eight hours a day.

1146
00:58:50,480 --> 00:58:53,000
Speaker 2: William, We will be back in just a few moments

1147
00:58:53,200 --> 00:58:55,200
Speaker 2: here on the Huddle. It is a quarter to six.

1148
00:58:57,160 --> 00:59:01,360
Speaker 1: The Huddle with New Zealand Southby's International Real achieve extraordinary

1149
00:59:01,400 --> 00:59:04,240
Speaker 1: results with unparallel reach news talks.

1150
00:59:04,440 --> 00:59:06,800
Speaker 2: B Ellie Jones read pr and Jordan Williams. Taxpayers in

1151
00:59:06,960 --> 00:59:09,840
Speaker 2: on the Huddle tonight. David Seymour's bill, this is the

1152
00:59:09,880 --> 00:59:13,120
Speaker 2: Treaty Principal's bill has failed on its second reading, sale

1153
00:59:13,200 --> 00:59:16,800
Speaker 2: to be binned. But he told us tonight not going away,

1154
00:59:16,960 --> 00:59:21,560
Speaker 2: not going anywhere. He is considering making it a bottom

1155
00:59:21,640 --> 00:59:24,400
Speaker 2: line at the next election to have a referendum on

1156
00:59:24,480 --> 00:59:26,000
Speaker 2: this issue. Ellie, what do you reckon?

1157
00:59:27,440 --> 00:59:27,600
Speaker 5: Oh?

1158
00:59:28,840 --> 00:59:31,400
Speaker 32: That's all I can do. I just it's exhausting. I

1159
00:59:31,520 --> 00:59:34,800
Speaker 32: think I love it when someone takes up a challenge

1160
00:59:34,920 --> 00:59:37,720
Speaker 32: and you know it doesn't give up and really goes.

1161
00:59:37,560 --> 00:59:38,480
Speaker 33: For what they believe in.

1162
00:59:39,080 --> 00:59:42,360
Speaker 32: Not in this situation, give it a break, David. The

1163
00:59:42,440 --> 00:59:47,040
Speaker 32: bill received three hundred thousand submissions, ninety percent opposed it.

1164
00:59:47,440 --> 00:59:50,240
Speaker 32: He keeps going on about how that wasn't clearly reflective

1165
00:59:50,240 --> 00:59:52,840
Speaker 32: of what's really happening out in you know, wide in

1166
00:59:52,920 --> 00:59:55,440
Speaker 32: New Zealand. So if he can show that in some

1167
00:59:55,600 --> 00:59:57,680
Speaker 32: other way, good on. But he had his opportunity, for

1168
00:59:57,800 --> 00:59:58,480
Speaker 32: God's sake, just.

1169
00:59:58,560 --> 01:00:04,360
Speaker 2: Let it go, Jordan, Well, are you going to make

1170
01:00:04,360 --> 01:00:05,360
Speaker 2: a job of a funny.

1171
01:00:05,120 --> 01:00:11,080
Speaker 27: Noise representing well, representing the media party? The ninety percent bs,

1172
01:00:12,120 --> 01:00:14,720
Speaker 27: the tens of thousands I know in Hobson's pledge case

1173
01:00:14,760 --> 01:00:17,360
Speaker 27: it was I think nearly forty thousand they just treated

1174
01:00:17,400 --> 01:00:21,560
Speaker 27: as one submission. Hugely disproped just disgraceful the way that

1175
01:00:21,640 --> 01:00:25,920
Speaker 27: select committee process was run. When Ali, you use the

1176
01:00:26,080 --> 01:00:28,720
Speaker 27: select committee numbers but not the public opinion polling, which

1177
01:00:28,760 --> 01:00:33,360
Speaker 27: is that the public are behind it, regardless of regardless

1178
01:00:33,720 --> 01:00:37,760
Speaker 27: it's scientific polling, I mean, it's opinion polling. Multiple multiple

1179
01:00:37,760 --> 01:00:39,480
Speaker 27: companies have done it, and showing that the.

1180
01:00:39,480 --> 01:00:43,000
Speaker 32: Public democratic process, We're.

1181
01:00:42,760 --> 01:00:46,280
Speaker 27: Back up the truck out. The democratic process is a referendum.

1182
01:00:46,840 --> 01:00:50,560
Speaker 27: What is so scary about having a national conversation on

1183
01:00:50,760 --> 01:00:53,000
Speaker 27: things like equality of rights?

1184
01:00:53,360 --> 01:00:59,600
Speaker 10: I'm so that all the bill is about BS.

1185
01:00:59,760 --> 01:01:04,480
Speaker 27: Go on, read the principles. They are Each individual principle

1186
01:01:04,720 --> 01:01:08,880
Speaker 27: has been polled and the public support all three of them. Look,

1187
01:01:09,480 --> 01:01:13,720
Speaker 27: do you understand the public upholding what do you disagree

1188
01:01:13,760 --> 01:01:18,600
Speaker 27: with upholding existing treaty settlements? Do you disagree with that? No?

1189
01:01:19,000 --> 01:01:22,160
Speaker 27: I agree, you're on one of them. You're on one

1190
01:01:22,200 --> 01:01:26,320
Speaker 27: of them. Do you disagree all New Zealanders be treated

1191
01:01:26,400 --> 01:01:27,560
Speaker 27: equally before the land?

1192
01:01:27,680 --> 01:01:30,880
Speaker 2: Okay, sorry tapping up, It was too good. I was

1193
01:01:30,960 --> 01:01:35,160
Speaker 2: enjoying myself. But what he does? He does have a point,

1194
01:01:35,200 --> 01:01:37,720
Speaker 2: doesn't he that there is a lot of opposition, Elie,

1195
01:01:38,120 --> 01:01:43,000
Speaker 2: But but no one really identifies exactly what it is

1196
01:01:43,160 --> 01:01:46,160
Speaker 2: that they're opposed to. Can you see that that point

1197
01:01:46,200 --> 01:01:47,000
Speaker 2: from David Singman?

1198
01:01:47,760 --> 01:01:48,120
Speaker 32: I can.

1199
01:01:48,360 --> 01:01:49,080
Speaker 9: I can see that.

1200
01:01:49,280 --> 01:01:52,000
Speaker 32: I think one of the issues, though, is that people

1201
01:01:52,120 --> 01:01:55,040
Speaker 32: don't understand it. I will concede that I think there

1202
01:01:55,080 --> 01:01:57,480
Speaker 32: are elements of this that people didn't understand. I think

1203
01:01:57,560 --> 01:02:01,680
Speaker 32: people jumped onto a bad category. Yeah, well no, I

1204
01:02:01,880 --> 01:02:04,720
Speaker 32: just think when you've got three hundred thousand submissions and

1205
01:02:04,920 --> 01:02:07,600
Speaker 32: the number opposing it, even if you talking about the

1206
01:02:07,720 --> 01:02:11,880
Speaker 32: blocks that were processed through Hobson's pledge or whatever you

1207
01:02:12,040 --> 01:02:15,080
Speaker 32: have still got a massive number. There is no doubt

1208
01:02:15,400 --> 01:02:18,640
Speaker 32: that the majority of people who submitted on this opposed it.

1209
01:02:19,120 --> 01:02:20,200
Speaker 5: So what do you do then?

1210
01:02:20,320 --> 01:02:22,800
Speaker 32: Go to referendum? Would you really think that we should

1211
01:02:22,800 --> 01:02:24,880
Speaker 32: be spending money on a referendum on something that so

1212
01:02:24,960 --> 01:02:25,840
Speaker 32: many people are opposing.

1213
01:02:25,960 --> 01:02:29,720
Speaker 27: Yeah, yeah, because that's that determines it. Determined it way

1214
01:02:31,400 --> 01:02:32,800
Speaker 27: bag group in the world flag.

1215
01:02:32,840 --> 01:02:35,600
Speaker 9: At the same time, no text back.

1216
01:02:35,480 --> 01:02:37,640
Speaker 27: Group in the world complains about the cost of democracy.

1217
01:02:37,680 --> 01:02:40,560
Speaker 2: All right, guys, got a bumper sticker with that on.

1218
01:02:41,040 --> 01:02:44,840
Speaker 2: Ellie Jones and Jordan Williams and a very boisterous Huddle

1219
01:02:45,000 --> 01:02:47,919
Speaker 2: enjoyed that. Nine away from six News Talks Asy. Next,

1220
01:02:48,000 --> 01:02:49,520
Speaker 2: I'm going to tell you, do you know who you

1221
01:02:49,640 --> 01:02:53,200
Speaker 2: really want to hear from when there's a global market meltdown?

1222
01:02:53,760 --> 01:02:55,720
Speaker 2: Megan Markle, she's waiting in.

1223
01:02:55,920 --> 01:03:00,480
Speaker 1: Next, it's the Heather dupas Allen Drive Full Show podcast

1224
01:03:00,560 --> 01:03:03,920
Speaker 1: on my Ard Radio powered by News TALKSB.

1225
01:03:04,800 --> 01:03:08,920
Speaker 2: News Talks be referendum, referendum, referendum, used to a referendum,

1226
01:03:09,080 --> 01:03:12,840
Speaker 2: No to a referendum. So many people commenting on the

1227
01:03:13,120 --> 01:03:16,280
Speaker 2: Huddle debate, it was a good debate were obviously the

1228
01:03:16,360 --> 01:03:19,880
Speaker 2: treaty Principal's bill has failed at second reading this afternoon.

1229
01:03:20,000 --> 01:03:22,520
Speaker 2: That has happened, and David Seymour told this program after

1230
01:03:22,600 --> 01:03:26,520
Speaker 2: five he is not rolling out taking it to as

1231
01:03:26,560 --> 01:03:29,400
Speaker 2: a bottom line to any coalition negotiations that there be

1232
01:03:29,480 --> 01:03:32,480
Speaker 2: a referendum, not just you know, the first reading, which

1233
01:03:32,520 --> 01:03:34,960
Speaker 2: is what he got this time, but an actual referendum.

1234
01:03:35,800 --> 01:03:38,040
Speaker 2: You'd have to see. You have to say that luxelm

1235
01:03:38,040 --> 01:03:40,160
Speaker 2: would be once bitten twice shy on that front withn't

1236
01:03:40,160 --> 01:03:43,000
Speaker 2: he now meet Back to the tariffs for a second.

1237
01:03:43,320 --> 01:03:46,120
Speaker 2: You know, the whole world is talking about tariffs because

1238
01:03:46,120 --> 01:03:48,880
Speaker 2: we were all affected. Where it's united the world in

1239
01:03:48,920 --> 01:03:51,680
Speaker 2: a way. We've got something to talk about that everybody

1240
01:03:52,240 --> 01:03:54,800
Speaker 2: has a skin in the game with, so we're all

1241
01:03:54,920 --> 01:03:57,120
Speaker 2: united in this. We've all got a group chat set

1242
01:03:57,200 --> 01:04:01,880
Speaker 2: up talking about tariffs and enters. Meghan Markle, Meghan Michael

1243
01:04:01,960 --> 01:04:03,760
Speaker 2: is typing in your group chat. Do you want to

1244
01:04:03,840 --> 01:04:06,280
Speaker 2: hear from her? Probably not, but I'm going to tell

1245
01:04:06,280 --> 01:04:09,240
Speaker 2: you anyway. So she's talking about her new product line.

1246
01:04:09,280 --> 01:04:11,280
Speaker 2: You know, she's got the Netflix show and then she's

1247
01:04:11,320 --> 01:04:14,120
Speaker 2: selling all the products online, including the jam and the

1248
01:04:14,160 --> 01:04:18,240
Speaker 2: honey that cost forty five dollars, the decorative flour sprinkles

1249
01:04:18,440 --> 01:04:22,120
Speaker 2: for twenty six dollars, the short bread and crape mixes

1250
01:04:22,720 --> 01:04:27,400
Speaker 2: twenty four dollars, herbal tea costing twenty one dollars. Anyway,

1251
01:04:27,880 --> 01:04:30,400
Speaker 2: she's put her head above the parapet and said, at

1252
01:04:30,440 --> 01:04:33,160
Speaker 2: the moment, the tariffs don't affect her products, so you

1253
01:04:33,200 --> 01:04:36,040
Speaker 2: should buy them because they're made in America, so they're

1254
01:04:36,080 --> 01:04:38,920
Speaker 2: not tariffed. She says, as we look at the larger

1255
01:04:39,000 --> 01:04:41,320
Speaker 2: context of how this is going to affect the consumer

1256
01:04:41,400 --> 01:04:43,520
Speaker 2: day to day, I'm very grateful that in part of

1257
01:04:43,600 --> 01:04:46,280
Speaker 2: the conception of this brand, I wanted to create products

1258
01:04:46,320 --> 01:04:49,840
Speaker 2: that look more prestige but are more accessible and affordable.

1259
01:04:50,240 --> 01:04:52,680
Speaker 2: Would we say forty five dollars to jam is affordable.

1260
01:04:52,960 --> 01:04:57,360
Speaker 2: I don't think we would. Ryan ninety percent of submissions

1261
01:04:57,400 --> 01:04:58,960
Speaker 2: this is on the back to the treaty BIL ninety

1262
01:04:58,960 --> 01:05:00,840
Speaker 2: percent of submisions out of three one hundred thousand were

1263
01:05:00,880 --> 01:05:03,840
Speaker 2: against the bill. What if there were only two hundred

1264
01:05:03,840 --> 01:05:06,200
Speaker 2: and seventy thousand out of five point five million total

1265
01:05:06,240 --> 01:05:09,760
Speaker 2: population that opposed it. Well, that is a good point.

1266
01:05:10,480 --> 01:05:14,560
Speaker 2: I mean, only those people who are really interested and

1267
01:05:14,720 --> 01:05:18,400
Speaker 2: affected will submit on something, and particularly submit in person,

1268
01:05:18,720 --> 01:05:22,760
Speaker 2: so it's not a representative sample. That would be what

1269
01:05:22,840 --> 01:05:27,080
Speaker 2: a poll is, right, I don't know. I don't really

1270
01:05:27,120 --> 01:05:30,280
Speaker 2: mind either way. I suppose a refereeum would sort sort

1271
01:05:30,280 --> 01:05:31,919
Speaker 2: it out. Wouldn't it sort the boys from the girls,

1272
01:05:32,000 --> 01:05:33,000
Speaker 2: or the men from the boys.

1273
01:05:33,080 --> 01:05:33,320
Speaker 21: Whatever.

1274
01:05:33,360 --> 01:05:36,320
Speaker 2: It is three minutes away from six news talks, HEDB

1275
01:05:38,400 --> 01:05:43,280
Speaker 2: after six we're talking about banking. How long it takes

1276
01:05:43,320 --> 01:05:46,160
Speaker 2: for the banks to pass on that OCR cut and

1277
01:05:46,280 --> 01:05:49,160
Speaker 2: does something need to be done to fix the problem.

1278
01:05:49,440 --> 01:05:50,800
Speaker 2: That's all I head news talk, said B.

1279
01:05:52,480 --> 01:05:56,480
Speaker 34: I can hear you near my head when I'm dreaming,

1280
01:05:56,880 --> 01:06:04,760
Speaker 34: you dream mom, scaring you?

1281
01:06:05,280 --> 01:06:06,800
Speaker 5: Where you enjoy.

1282
01:06:14,320 --> 01:06:17,919
Speaker 1: Keeping track of where the money is flowing the business hour,

1283
01:06:18,280 --> 01:06:21,520
Speaker 1: which Ryan Bridge can do theirs, insurance.

1284
01:06:21,080 --> 01:06:24,880
Speaker 3: And investments, grow your wealth, protect your future. News talks

1285
01:06:24,920 --> 01:06:26,280
Speaker 3: at be Good Evening.

1286
01:06:26,840 --> 01:06:29,200
Speaker 2: It is seven after six News Talks. It'd been Liam

1287
01:06:29,280 --> 01:06:32,960
Speaker 2: dan shortly on the bond markets that made Trump blink,

1288
01:06:33,360 --> 01:06:36,360
Speaker 2: Jamie McKay on the beef prices holding up in the US,

1289
01:06:36,520 --> 01:06:38,760
Speaker 2: Sam Dickey on how to invest in the volatile world,

1290
01:06:38,800 --> 01:06:41,000
Speaker 2: and we'll get to Intebrady in the UK before seven

1291
01:06:41,000 --> 01:06:43,960
Speaker 2: to two. Right now, the OCR dropped. We all saw

1292
01:06:44,040 --> 01:06:47,320
Speaker 2: that yesterday, But why haven't your mortgage rates joined them?

1293
01:06:47,600 --> 01:06:49,800
Speaker 2: Even for those of you on a floating rate, which

1294
01:06:49,920 --> 01:06:52,440
Speaker 2: many people still are holding up for a lower one,

1295
01:06:52,720 --> 01:06:54,960
Speaker 2: you'll yet to see the savings materialize. And I know

1296
01:06:55,080 --> 01:06:57,280
Speaker 2: what you're thinking. You're thinking, hang on, I saw the

1297
01:06:57,360 --> 01:07:00,440
Speaker 2: banks drop some of the banks drop the rates, Yes,

1298
01:07:00,520 --> 01:07:04,000
Speaker 2: you did, but they dropped their advertised rates, not the

1299
01:07:04,120 --> 01:07:07,320
Speaker 2: effect of rates that takes longer. Am Z and Benz

1300
01:07:07,560 --> 01:07:09,440
Speaker 2: interestock code on Z did some good work on this.

1301
01:07:09,640 --> 01:07:11,720
Speaker 2: Am Z and bean zaid the fastest to give you

1302
01:07:11,760 --> 01:07:15,280
Speaker 2: your savings about seven days. Well, Kiwibank tacks an average

1303
01:07:15,320 --> 01:07:19,280
Speaker 2: of two weeks to pass along the cut. Kent Dustin

1304
01:07:19,560 --> 01:07:22,120
Speaker 2: started the Banking Reform Coalition. Is with me tonight?

1305
01:07:22,200 --> 01:07:24,560
Speaker 35: Hi, Kent Cure here are you going?

1306
01:07:24,640 --> 01:07:24,800
Speaker 27: Yeah?

1307
01:07:24,840 --> 01:07:25,000
Speaker 10: Good?

1308
01:07:25,040 --> 01:07:27,040
Speaker 2: Thank you? Thanks for being with me. So you don't

1309
01:07:27,160 --> 01:07:29,080
Speaker 2: like the time it takes for the banks to pass

1310
01:07:29,240 --> 01:07:33,600
Speaker 2: on the cuts from the OCR. How long do you

1311
01:07:33,640 --> 01:07:34,400
Speaker 2: think it should take?

1312
01:07:35,320 --> 01:07:37,640
Speaker 35: Well, you know it's not just me, right, I don't

1313
01:07:37,680 --> 01:07:40,000
Speaker 35: think anyone likes the amount of time it takes for

1314
01:07:40,080 --> 01:07:43,320
Speaker 35: the banks to pass on the OCR cuts because you know,

1315
01:07:43,480 --> 01:07:46,840
Speaker 35: after all, it's no harder than just hitting the heading

1316
01:07:46,920 --> 01:07:50,040
Speaker 35: the return key on the keyboard. And really there's no

1317
01:07:50,160 --> 01:07:53,000
Speaker 35: reason why it should not happen on the exact same

1318
01:07:53,080 --> 01:07:56,720
Speaker 35: day that the Reserve Bank lowers the ocr You can't

1319
01:07:56,760 --> 01:07:58,840
Speaker 35: see any reason at all why why it takes weeks

1320
01:07:58,880 --> 01:07:59,360
Speaker 35: and weeks.

1321
01:07:59,200 --> 01:07:59,480
Speaker 27: To do this.

1322
01:07:59,640 --> 01:08:01,520
Speaker 2: Look, I agree with you in principle, and there's that

1323
01:08:01,600 --> 01:08:03,040
Speaker 2: they've given a whole bit of the banks have given

1324
01:08:03,040 --> 01:08:05,160
Speaker 2: a whole bunch of reasons why it taxed them so long.

1325
01:08:05,880 --> 01:08:08,760
Speaker 2: But there's one thing. If you look at the rate

1326
01:08:08,800 --> 01:08:13,000
Speaker 2: at which they drop after there's a cut versus the

1327
01:08:13,120 --> 01:08:16,880
Speaker 2: rate at which they increase after there's a hike, they're

1328
01:08:16,920 --> 01:08:20,519
Speaker 2: about the same. In fact, they're actually faster asb for example,

1329
01:08:20,720 --> 01:08:22,639
Speaker 2: drop the rates faster than they raised them.

1330
01:08:23,880 --> 01:08:26,360
Speaker 35: Yeah, it's kind of interesting because you know, it does

1331
01:08:26,479 --> 01:08:28,280
Speaker 35: look like the banks are cherry picking a bit of

1332
01:08:28,400 --> 01:08:32,720
Speaker 35: data on this. In the Commerce Commissions Market study into

1333
01:08:32,800 --> 01:08:35,599
Speaker 35: personal banking last year, they commissioned a piece of work

1334
01:08:35,680 --> 01:08:39,040
Speaker 35: from the University of Auckland's Business School and it looked

1335
01:08:39,040 --> 01:08:42,439
Speaker 35: at the long run data in what it seed after

1336
01:08:42,520 --> 01:08:45,600
Speaker 35: they did the big statistical analysis, you know, completely interopeners

1337
01:08:45,600 --> 01:08:49,439
Speaker 35: of the banks themselves, is that after four months, because

1338
01:08:49,439 --> 01:08:51,519
Speaker 35: you've got to take into account both of fixed rates

1339
01:08:51,560 --> 01:08:55,479
Speaker 35: and the floating rates. Right after four months, the banks

1340
01:08:55,520 --> 01:08:59,439
Speaker 35: had passed on ninety percent of the increase to borrowers,

1341
01:09:00,080 --> 01:09:03,400
Speaker 35: it only passed on fifty seven percent of the decrease. Right, So,

1342
01:09:03,439 --> 01:09:05,840
Speaker 35: I think there's a long run behavior here from the

1343
01:09:05,920 --> 01:09:09,760
Speaker 35: banks that they are literally you know, rockets up but

1344
01:09:09,960 --> 01:09:14,439
Speaker 35: feathers down. And I think we see that when you know,

1345
01:09:14,680 --> 01:09:17,559
Speaker 35: we're talking about weeks and weeks to get what should

1346
01:09:17,600 --> 01:09:20,200
Speaker 35: be a pretty simple change through to existing borrowers.

1347
01:09:20,640 --> 01:09:23,799
Speaker 2: But you're talking about the amount we were talking about

1348
01:09:23,840 --> 01:09:27,280
Speaker 2: the time, So on the time, I mean, if they

1349
01:09:27,360 --> 01:09:30,760
Speaker 2: are dropping rates at the same or faster rate than

1350
01:09:30,800 --> 01:09:32,960
Speaker 2: they are raising them, does that not tell you something?

1351
01:09:33,040 --> 01:09:34,519
Speaker 2: Does that not tell you that, you know, maybe it

1352
01:09:34,640 --> 01:09:37,040
Speaker 2: is that their IT systems are crap or I don't know,

1353
01:09:37,200 --> 01:09:39,559
Speaker 2: something's going on behind the scenes, or as they say,

1354
01:09:39,600 --> 01:09:41,240
Speaker 2: they have to do due diligence and there's a whole

1355
01:09:41,240 --> 01:09:43,040
Speaker 2: bunch of other things they need to take into account.

1356
01:09:43,800 --> 01:09:47,080
Speaker 2: Would that number not indicate that perhaps they're just slow,

1357
01:09:47,360 --> 01:09:47,880
Speaker 2: not bad.

1358
01:09:49,160 --> 01:09:51,960
Speaker 35: Well, you know, it's a bit hard to untangle slow

1359
01:09:52,040 --> 01:09:54,800
Speaker 35: from bad, you know, because after all, look, no one's

1360
01:09:54,920 --> 01:09:56,799
Speaker 35: arguing that their IT systems are terrible.

1361
01:09:57,040 --> 01:09:57,160
Speaker 36: Right.

1362
01:09:58,160 --> 01:10:01,920
Speaker 35: In that same market study the Communist Commission, you know,

1363
01:10:02,040 --> 01:10:05,639
Speaker 35: they pointed out that the A and Z Bank, their

1364
01:10:05,760 --> 01:10:08,760
Speaker 35: core systems had been depreciated all the way down to

1365
01:10:09,000 --> 01:10:12,200
Speaker 35: zero dollars, which means they're so old that in both

1366
01:10:12,240 --> 01:10:17,400
Speaker 35: accounting terms and operational terms, those systems are worthless. Right, So, yeah,

1367
01:10:17,439 --> 01:10:19,880
Speaker 35: their systems are bad, but that's their own decision to

1368
01:10:19,960 --> 01:10:23,880
Speaker 35: have not reinvested in up to date systems, So it's

1369
01:10:23,960 --> 01:10:26,280
Speaker 35: not like borrowers should have to pay a penalty for that.

1370
01:10:28,240 --> 01:10:31,639
Speaker 35: When it comes to the timing of the delays, again,

1371
01:10:31,720 --> 01:10:33,640
Speaker 35: the banks are fully in charge of this. You know,

1372
01:10:33,880 --> 01:10:36,360
Speaker 35: They're the ones who decide the notice periods and the

1373
01:10:36,439 --> 01:10:40,839
Speaker 35: contracts and you know, how get operationalized in their systems

1374
01:10:40,920 --> 01:10:43,759
Speaker 35: and how quickly they notified borrowers and all those things.

1375
01:10:44,240 --> 01:10:47,400
Speaker 35: And it just seems that these delays are pretty self

1376
01:10:47,439 --> 01:10:50,680
Speaker 35: serving because it's pretty obvious that holding interest rates too

1377
01:10:50,800 --> 01:10:54,000
Speaker 35: high for too long costs us money and makes them profit.

1378
01:10:54,640 --> 01:10:58,160
Speaker 2: Kent, thanks for that, Ken Dustin Banking Reform Coalition convena

1379
01:10:58,360 --> 01:11:00,240
Speaker 2: with us not happy with how long it takes, But

1380
01:11:00,320 --> 01:11:02,519
Speaker 2: I mean not that I'm here to stick up for

1381
01:11:02,560 --> 01:11:04,439
Speaker 2: the banks, because no one wants to be that guy.

1382
01:11:05,000 --> 01:11:07,560
Speaker 2: But they do take into account a whole bunch of

1383
01:11:07,560 --> 01:11:10,200
Speaker 2: different numbers when they're deciding what the rates are going

1384
01:11:10,240 --> 01:11:12,000
Speaker 2: to be, including swap rates, which has been all over

1385
01:11:12,040 --> 01:11:14,800
Speaker 2: the place over the last week. So I wouldn't you

1386
01:11:15,160 --> 01:11:17,479
Speaker 2: give a bit of leeway. Plus some of their according

1387
01:11:17,520 --> 01:11:21,320
Speaker 2: to the Banking Inquiry, computer systems are so antiquated that

1388
01:11:21,479 --> 01:11:24,680
Speaker 2: even passing the rates on for you know, if you're

1389
01:11:24,680 --> 01:11:27,560
Speaker 2: wanting to lower the rate for a saver, which is

1390
01:11:27,640 --> 01:11:30,840
Speaker 2: to their advantage, they can't do that until the first

1391
01:11:30,920 --> 01:11:35,240
Speaker 2: of the following month. That's how ms doss their computer

1392
01:11:35,360 --> 01:11:38,200
Speaker 2: systems are. So it might be, as I say, more

1393
01:11:38,280 --> 01:11:42,760
Speaker 2: slow than bad. Twelve after six yesterday at this time,

1394
01:11:42,840 --> 01:11:46,160
Speaker 2: actually we spoke to Barbara Edmonds, the Labor MP, and

1395
01:11:46,240 --> 01:11:48,839
Speaker 2: remember she couldn't get on the show. Well she initially

1396
01:11:49,000 --> 01:11:51,040
Speaker 2: pressed it call said oh we have to cancel because

1397
01:11:51,160 --> 01:11:55,120
Speaker 2: there's a fire alarm at Parliament. Well, thankfully eventually she

1398
01:11:55,280 --> 01:11:55,560
Speaker 2: came on.

1399
01:11:56,400 --> 01:11:58,759
Speaker 37: I think it was just because obviously left my phone,

1400
01:11:59,280 --> 01:12:01,479
Speaker 37: the fire alarm just got to get outside, so we

1401
01:12:01,600 --> 01:12:03,560
Speaker 37: just wanted to make sure that it was weird. Just

1402
01:12:03,640 --> 01:12:04,760
Speaker 37: we didn't know how long we were going to be

1403
01:12:04,800 --> 01:12:08,719
Speaker 37: outside I've been here for ten years in Parliament, the Precinct, Durut,

1404
01:12:08,720 --> 01:12:10,400
Speaker 37: the Prince Sects. The first time I've ever had a

1405
01:12:10,439 --> 01:12:13,439
Speaker 37: fire drill during a house sitting time. So but I'm here, man,

1406
01:12:13,520 --> 01:12:14,200
Speaker 37: That's what matters.

1407
01:12:15,000 --> 01:12:17,240
Speaker 2: She did get there, did Bob. But the thing is,

1408
01:12:17,640 --> 01:12:19,519
Speaker 2: why do they have a fire alarm when the house

1409
01:12:19,640 --> 01:12:22,280
Speaker 2: is sitting? Because it was I assumed it must have

1410
01:12:22,320 --> 01:12:24,479
Speaker 2: been smoke or something had set it off, but it

1411
01:12:24,560 --> 01:12:27,600
Speaker 2: was actually just a drill. Very rare for them to

1412
01:12:27,640 --> 01:12:29,200
Speaker 2: do that. In fact, I don't know whether they've done

1413
01:12:29,240 --> 01:12:33,200
Speaker 2: it before. So we reached out to Parliament and to

1414
01:12:33,280 --> 01:12:36,040
Speaker 2: the Speaker's office. They told us that while drills usually

1415
01:12:36,160 --> 01:12:38,479
Speaker 2: happened during recess, they decided they'd do one on a

1416
01:12:38,560 --> 01:12:42,240
Speaker 2: house sitting day because you just never know what might happen. So, yes,

1417
01:12:42,280 --> 01:12:45,400
Speaker 2: it was a real fire drill, and it was planned

1418
01:12:45,439 --> 01:12:47,599
Speaker 2: and it happened while the house was sitting.

1419
01:12:48,120 --> 01:12:52,320
Speaker 18: Imagine if they imagine if they decided to do it today, right, Well.

1420
01:12:53,439 --> 01:12:55,559
Speaker 2: Good point. I mean that would have been one way

1421
01:12:55,600 --> 01:12:58,920
Speaker 2: to shut it up. You know you don't want any debate,

1422
01:12:59,080 --> 01:12:59,960
Speaker 2: Well we can put us.

1423
01:13:00,479 --> 01:13:02,360
Speaker 18: I appreciate that none of the parties did a Harker today.

1424
01:13:02,400 --> 01:13:04,400
Speaker 18: But if you're planning a Harker and then halfway through

1425
01:13:04,439 --> 01:13:06,320
Speaker 18: the voting, the fire alarm goes, and then you will

1426
01:13:06,400 --> 01:13:07,920
Speaker 18: come back in. Do you do the Harker? Then do

1427
01:13:08,000 --> 01:13:09,960
Speaker 18: you go Okay, well, we've already had the disruption today,

1428
01:13:10,000 --> 01:13:12,360
Speaker 18: we can't really do another one. Now our sunder's been stolen.

1429
01:13:12,479 --> 01:13:15,120
Speaker 2: I reckon it would be game over, the game over

1430
01:13:15,160 --> 01:13:18,000
Speaker 2: once the fire alarm goes, it's game over. As this

1431
01:13:18,080 --> 01:13:20,320
Speaker 2: forty minutes half to six News Talks, that'd be Liam

1432
01:13:20,400 --> 01:13:23,240
Speaker 2: Dan will walk us through the bond markets, what the

1433
01:13:24,160 --> 01:13:26,759
Speaker 2: bizarre thing that happened on the bond markets, what caused

1434
01:13:26,760 --> 01:13:29,599
Speaker 2: it and whether that was responsible for Trump's You turn

1435
01:13:29,720 --> 01:13:31,400
Speaker 2: this morning, it's.

1436
01:13:31,280 --> 01:13:35,480
Speaker 1: The Heather duper Cell and Drive Full Show podcast on iHeartRadio,

1437
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Speaker 1: empowered by News Talk ZEBBI.

1438
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Speaker 2: Well, it's all. We've had it all, really have we

1439
01:13:41,080 --> 01:13:44,120
Speaker 2: over the last few days. Global volatility, o CR announcements,

1440
01:13:44,240 --> 01:13:47,400
Speaker 2: economic uncertainty. It's a tough environment out there, and let's

1441
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Speaker 2: be honest, knowing your next move not always straightforward. Is

1442
01:13:50,479 --> 01:13:53,960
Speaker 2: that That's why good advice matters. When markets get noisy,

1443
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Speaker 2: you want someone who can cut through the headlines. I

1444
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Speaker 2: can give it to you straight, what's actually going on

1445
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Speaker 2: and what you should actually be thinking about. That's what

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1448
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Speaker 2: also spot the opportunities even when things feel unsettled. Because

1449
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Speaker 2: volatility doesn't just mean risk, it can also mean opportunity

1450
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1451
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1453
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1454
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Speaker 2: owned and operated investment firm and a licensed financial advice provider.

1456
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Speaker 3: If it's to do with money, it matters to you.

1457
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Speaker 1: The Business Hour with Ryan Bridge and Theirs Insurance and Investments,

1458
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Speaker 1: Grow your wealth, Protect your future newstgs.

1459
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Speaker 2: Env six seventeen, We'll get a Jamie McKay next. Looks

1460
01:14:49,280 --> 01:14:52,120
Speaker 2: like the bond market ultimately force Donald Trump's hands to

1461
01:14:52,360 --> 01:14:53,679
Speaker 2: pull back on those tariffs.

1462
01:14:53,720 --> 01:14:56,000
Speaker 4: Butt market is very tricky. I was watching it, but

1463
01:14:56,080 --> 01:15:00,519
Speaker 4: if you look at it now, it's it's beautiful. Unmarket

1464
01:15:00,640 --> 01:15:04,439
Speaker 4: right now is beautiful, but yeah, I saw last night

1465
01:15:04,479 --> 01:15:06,480
Speaker 4: where people were getting a little queasy.

1466
01:15:07,439 --> 01:15:10,080
Speaker 2: So beautiful. Liam dan is the herold's business editor at

1467
01:15:10,120 --> 01:15:12,840
Speaker 2: large LIMB good evening. Hey, right, what was wrong was

1468
01:15:12,880 --> 01:15:14,240
Speaker 2: where the bond markets were going.

1469
01:15:14,400 --> 01:15:17,479
Speaker 9: Well, the yield or the interest rate on the US

1470
01:15:17,600 --> 01:15:19,880
Speaker 9: Treasury bonds was going up, and it was going up

1471
01:15:20,000 --> 01:15:24,360
Speaker 9: quite fast, and that was going up. It's sort of

1472
01:15:24,400 --> 01:15:26,920
Speaker 9: there's an inverse relationship between the price of a bond

1473
01:15:27,000 --> 01:15:29,040
Speaker 9: and the yield on it, and the price of the

1474
01:15:29,080 --> 01:15:32,120
Speaker 9: bonds was going down, suggesting that they were being sold

1475
01:15:32,160 --> 01:15:36,240
Speaker 9: off around the world. A few possible reasons for that.

1476
01:15:36,439 --> 01:15:39,559
Speaker 9: You know, you've got investors all over the world worried about,

1477
01:15:39,680 --> 01:15:43,640
Speaker 9: you know, just how safe a bet the US is. Traditionally,

1478
01:15:44,080 --> 01:15:46,840
Speaker 9: when markets are in turmoil, US treasury bonds are the

1479
01:15:46,920 --> 01:15:50,479
Speaker 9: safe place to go, and so that's been undermined somewhat.

1480
01:15:50,600 --> 01:15:53,880
Speaker 9: Some people suggesting that the Chinese, who have you know,

1481
01:15:54,400 --> 01:15:57,200
Speaker 9: about a trillion dollars worth of own about a trillion

1482
01:15:57,280 --> 01:16:01,280
Speaker 9: dollars worth of US debt or US bonds, maybe selling

1483
01:16:01,360 --> 01:16:04,200
Speaker 9: them off to to force his hand, to force his hand,

1484
01:16:04,240 --> 01:16:05,920
Speaker 9: although that would hurt them as well. So it is

1485
01:16:06,040 --> 01:16:08,760
Speaker 9: kind of a nuclear option because you know, as the

1486
01:16:08,840 --> 01:16:11,760
Speaker 9: price falls, they lose the value of them. You know,

1487
01:16:11,880 --> 01:16:16,360
Speaker 9: they lose value, So a bit of that. But either way,

1488
01:16:16,439 --> 01:16:19,200
Speaker 9: you know, whether it was the Chinese or all of

1489
01:16:19,360 --> 01:16:21,560
Speaker 9: you know, a whole bunch of the countries, or just

1490
01:16:21,680 --> 01:16:24,519
Speaker 9: general loss of faith, it was spiking really fast, and

1491
01:16:24,640 --> 01:16:26,519
Speaker 9: that's a real problem. You know, when you have a

1492
01:16:28,000 --> 01:16:32,640
Speaker 9: when interest rates go up faster than predicted, companies that

1493
01:16:32,800 --> 01:16:35,800
Speaker 9: have an amount of debt that might have seemed like

1494
01:16:35,840 --> 01:16:39,040
Speaker 9: an okay amount of debt suddenly is a problematic amount

1495
01:16:39,040 --> 01:16:40,760
Speaker 9: of debt. And we saw that in the GFC when

1496
01:16:41,960 --> 01:16:46,519
Speaker 9: the overnight lending rates spiked to the point that the

1497
01:16:46,600 --> 01:16:49,439
Speaker 9: market just froze up and then big banks started falling over.

1498
01:16:50,000 --> 01:16:52,760
Speaker 9: So you can't let that happen. They often say that

1499
01:16:52,840 --> 01:16:58,120
Speaker 9: the bond market is, you know, the most powerful political

1500
01:16:58,640 --> 01:17:00,920
Speaker 9: or financial or economic force in the world. I mean,

1501
01:17:01,400 --> 01:17:06,320
Speaker 9: the whole world runs on debt, and when that seasons up,

1502
01:17:06,479 --> 01:17:07,599
Speaker 9: things just stop happening.

1503
01:17:07,760 --> 01:17:10,000
Speaker 2: So that's meant to be the safest of safe, right,

1504
01:17:10,080 --> 01:17:11,840
Speaker 2: That's the same absolutely so, So.

1505
01:17:12,000 --> 01:17:16,560
Speaker 9: In a way, you know, in Donald Trump sort of

1506
01:17:16,560 --> 01:17:20,760
Speaker 9: playing poker with with this, the very idea that the

1507
01:17:20,920 --> 01:17:23,680
Speaker 9: US is the primary safe haven, you know, that the

1508
01:17:24,080 --> 01:17:27,000
Speaker 9: number one place for you know, the dominant economy in

1509
01:17:27,040 --> 01:17:27,360
Speaker 9: the world.

1510
01:17:27,640 --> 01:17:30,200
Speaker 2: And back home, the INSIDETX finished today high was up

1511
01:17:30,520 --> 01:17:31,160
Speaker 2: three point.

1512
01:17:31,160 --> 01:17:32,920
Speaker 9: Yeah, about three point four, three point five.

1513
01:17:32,880 --> 01:17:35,080
Speaker 2: So they're still not recovering what it's not recovering.

1514
01:17:35,560 --> 01:17:38,000
Speaker 9: And yeah, the bond yields, I guess they're looking beautiful now,

1515
01:17:38,080 --> 01:17:42,960
Speaker 9: they're looking still beautiful. They're stable, but the situation we're in,

1516
01:17:43,080 --> 01:17:46,559
Speaker 9: so there's been a backtrack on the tariffs for all

1517
01:17:46,640 --> 01:17:49,720
Speaker 9: the countries except China. But the tariff one hundred and

1518
01:17:49,760 --> 01:17:52,240
Speaker 9: twenty five percent on China and they've got the reciprocal

1519
01:17:52,280 --> 01:17:54,920
Speaker 9: eighty four percent. That seems like it just can't stand.

1520
01:17:55,000 --> 01:17:58,519
Speaker 9: I mean, how does that How does the US economy

1521
01:17:58,560 --> 01:18:01,439
Speaker 9: and the Chinese economy function? Those tariffs? Not very well,

1522
01:18:01,439 --> 01:18:03,240
Speaker 9: I would have thought, And that's going to be huge

1523
01:18:03,320 --> 01:18:06,400
Speaker 9: fallout for the world. So really that they have to

1524
01:18:06,439 --> 01:18:08,720
Speaker 9: get to the negotiating table, but there's obviously a lot

1525
01:18:08,760 --> 01:18:13,360
Speaker 9: of pride, pride, and they have to get there and

1526
01:18:13,479 --> 01:18:16,360
Speaker 9: save some face. So Donald Trump doesn't want to look

1527
01:18:16,400 --> 01:18:18,959
Speaker 9: like he's back down against the Chinese. I'm sure Jijinping

1528
01:18:19,080 --> 01:18:21,960
Speaker 9: doesn't want to look like that either. But it's problematic

1529
01:18:22,000 --> 01:18:24,200
Speaker 9: if this goes from a sort of a it sort

1530
01:18:24,200 --> 01:18:27,200
Speaker 9: of feels through surreal at the moment because we yet

1531
01:18:27,280 --> 01:18:30,640
Speaker 9: to see the reality of these tariffs hitting consumers and

1532
01:18:30,760 --> 01:18:33,800
Speaker 9: hitting the manufacturers. But that's going to happen in the

1533
01:18:33,880 --> 01:18:36,040
Speaker 9: next few days if something doesn't.

1534
01:18:35,800 --> 01:18:38,200
Speaker 2: Give Lilliam Dan appreciate your analysis, as always ends a

1535
01:18:38,240 --> 01:18:41,320
Speaker 2: Herald Business editor at large. Twenty one after six, Get

1536
01:18:41,320 --> 01:18:44,240
Speaker 2: to Jamie McKay the beef prices holding up in the

1537
01:18:44,360 --> 01:18:45,519
Speaker 2: US despite the tariffs.

1538
01:18:45,520 --> 01:18:49,599
Speaker 1: He's here Next the Rule Report with MSD Animal Health

1539
01:18:49,760 --> 01:18:52,200
Speaker 1: over nz It's most popular Cowcola.

1540
01:18:52,240 --> 01:18:54,759
Speaker 2: Six twenty four Sam Dicky next on how to invest

1541
01:18:54,800 --> 01:18:57,200
Speaker 2: in a volatile market. Right now. Jamie mckaye hosted The

1542
01:18:57,200 --> 01:19:01,400
Speaker 2: Country with Us. Jamie, Hello, good afternoon, Ryan, Good to

1543
01:19:01,439 --> 01:19:01,800
Speaker 2: have you on.

1544
01:19:02,040 --> 01:19:02,200
Speaker 4: Now.

1545
01:19:02,400 --> 01:19:04,839
Speaker 2: What did you make of the We spoke about this yesterday,

1546
01:19:04,920 --> 01:19:07,920
Speaker 2: the pine forest and the Parliamentary Commissioner for the Environment

1547
01:19:08,000 --> 01:19:09,960
Speaker 2: saying actually they're not that great in the long run.

1548
01:19:10,680 --> 01:19:13,040
Speaker 33: No, But can I first address the elephant in the room.

1549
01:19:13,560 --> 01:19:15,479
Speaker 33: What's that Grannie's knee?

1550
01:19:15,840 --> 01:19:16,000
Speaker 28: Oh?

1551
01:19:18,680 --> 01:19:21,200
Speaker 33: I was driving back from Timaru yesterday. I was at

1552
01:19:21,240 --> 01:19:23,599
Speaker 33: the South Island Air event it was a very entertaining show.

1553
01:19:23,960 --> 01:19:26,240
Speaker 33: Thank you Grannie for your knee. But on a more

1554
01:19:26,320 --> 01:19:28,720
Speaker 33: serious note, it was just good to catch up from

1555
01:19:28,800 --> 01:19:32,200
Speaker 33: my point of view over the wall is shoe or

1556
01:19:32,240 --> 01:19:35,519
Speaker 33: the wall in government buildings issue, and I know you've

1557
01:19:35,560 --> 01:19:37,759
Speaker 33: covered it off at length, and also the pine trees,

1558
01:19:37,800 --> 01:19:40,880
Speaker 33: the ets, what Simon Upton was saying, and I found

1559
01:19:40,920 --> 01:19:41,879
Speaker 33: that really interesting.

1560
01:19:42,040 --> 01:19:45,240
Speaker 2: Yeah, well, I can update you on Grannie actually, Damie.

1561
01:19:45,280 --> 01:19:47,400
Speaker 2: I gave her a call last night and she's doing well.

1562
01:19:48,240 --> 01:19:50,000
Speaker 2: And I said, Grannie, I gave you a shout out

1563
01:19:50,040 --> 01:19:52,799
Speaker 2: on the radio yesterday and she wasn't listening.

1564
01:19:53,000 --> 01:19:54,640
Speaker 5: So there you go.

1565
01:19:55,160 --> 01:19:57,200
Speaker 33: I reckon, she'll be the hit or the star of

1566
01:19:57,280 --> 01:19:57,920
Speaker 33: the rest time.

1567
01:19:58,040 --> 01:19:58,240
Speaker 27: Ryan.

1568
01:19:59,120 --> 01:20:00,559
Speaker 33: She's a celebrity, she.

1569
01:20:00,800 --> 01:20:03,640
Speaker 2: Is, all right. So yeah, the Parlietry Commission for the

1570
01:20:03,760 --> 01:20:06,880
Speaker 2: Environment and you heard yesterday the interview about the pine forest.

1571
01:20:06,960 --> 01:20:08,120
Speaker 2: What's your take on it, Jamie.

1572
01:20:08,520 --> 01:20:11,240
Speaker 33: Well, look, I'm not a fan of carbon farming just

1573
01:20:11,360 --> 01:20:13,920
Speaker 33: by itself. I'm all for production forestry and I think

1574
01:20:13,960 --> 01:20:17,840
Speaker 33: it's good. It's our fourth biggest export industry behind dairy,

1575
01:20:18,120 --> 01:20:22,640
Speaker 33: red meat and horticulture. But I'm really worried Ryan, and

1576
01:20:22,720 --> 01:20:24,280
Speaker 33: I know a lot of people don't agree with me,

1577
01:20:24,360 --> 01:20:28,000
Speaker 33: but I'm really worried that will become the Californian wildfire

1578
01:20:28,280 --> 01:20:31,200
Speaker 33: capital of the South Pacific in twenty or thirty years

1579
01:20:31,680 --> 01:20:34,960
Speaker 33: off the back of this poorly managed carbon forests, because

1580
01:20:35,000 --> 01:20:37,280
Speaker 33: I don't buy into the argument that all the land,

1581
01:20:37,520 --> 01:20:40,840
Speaker 33: often good grazing land that's being planted right at the moment,

1582
01:20:40,880 --> 01:20:42,840
Speaker 33: we might put a stop to it later this year.

1583
01:20:44,080 --> 01:20:46,720
Speaker 33: Is there for production forestry in the future. I think

1584
01:20:46,800 --> 01:20:49,240
Speaker 33: there's a bit of spray and walk away here. People

1585
01:20:49,280 --> 01:20:52,840
Speaker 33: are looking to get the carbon credits, and goodness knows

1586
01:20:52,880 --> 01:20:56,240
Speaker 33: what happens to these forests, especially if they're not managed

1587
01:20:56,280 --> 01:20:59,400
Speaker 33: properly over the next twenty or thirty years like a

1588
01:20:59,479 --> 01:21:03,200
Speaker 33: production forest could be. And I'm with Simon Upton on

1589
01:21:03,280 --> 01:21:05,479
Speaker 33: this one. And interestingly, and I know you talked about

1590
01:21:05,520 --> 01:21:09,640
Speaker 33: this yesterday, but he's saying modeling indicates a glut of

1591
01:21:10,240 --> 01:21:13,200
Speaker 33: carbon credits is going to hit the New Zealand market

1592
01:21:13,360 --> 01:21:16,320
Speaker 33: in the twenty thirties, So what do we do. It's

1593
01:21:16,400 --> 01:21:19,280
Speaker 33: going to exceed the government's ability to auction them off.

1594
01:21:20,320 --> 01:21:23,719
Speaker 33: He's saying the simplest way is to phase out forestry

1595
01:21:23,760 --> 01:21:27,240
Speaker 33: options for pine trees out of the ets in an

1596
01:21:27,360 --> 01:21:31,320
Speaker 33: orderly way, grandfathering existing credits, i e. Looking after those

1597
01:21:31,360 --> 01:21:34,720
Speaker 33: who have already invested but are not issuing any more,

1598
01:21:35,040 --> 01:21:37,479
Speaker 33: because I think there'll be a political change in the

1599
01:21:37,560 --> 01:21:40,120
Speaker 33: wind somewhere down the track and all of a sudden,

1600
01:21:40,400 --> 01:21:42,639
Speaker 33: no one will want a bar of these carbon credits.

1601
01:21:42,680 --> 01:21:45,120
Speaker 33: It'll be yesterday's news and we're going to be left

1602
01:21:45,200 --> 01:21:47,800
Speaker 33: with these carbon forests that are uneconomic.

1603
01:21:48,160 --> 01:21:49,200
Speaker 2: No one cares for them.

1604
01:21:49,400 --> 01:21:51,679
Speaker 33: And as I said, it may be spray and walk away,

1605
01:21:51,720 --> 01:21:55,519
Speaker 33: and I think we it's an ecological and biological disaster

1606
01:21:55,680 --> 01:21:56,200
Speaker 33: in the making.

1607
01:21:57,000 --> 01:22:00,479
Speaker 2: Now, let's talk about the beef exporterers, the tariff, the

1608
01:22:00,520 --> 01:22:03,120
Speaker 2: imposition of the ten percent tariff not really having much

1609
01:22:03,160 --> 01:22:04,160
Speaker 2: of an effect on the price.

1610
01:22:04,800 --> 01:22:09,040
Speaker 33: Well, beef producers in this country or beef exporters are

1611
01:22:09,160 --> 01:22:13,560
Speaker 33: in a good position. And I was listening to the

1612
01:22:13,680 --> 01:22:16,240
Speaker 33: guy from ANSCO and I've just forgotten his name, Yes,

1613
01:22:16,320 --> 01:22:20,800
Speaker 33: sales and marketing manager Rick Walker. Sorry Rick forgetting your

1614
01:22:20,880 --> 01:22:25,320
Speaker 33: name wrong. And he's saying some customers supplying the US

1615
01:22:25,479 --> 01:22:29,880
Speaker 33: market had been testing the waters and inverted commas with

1616
01:22:30,240 --> 01:22:36,439
Speaker 33: New Zealand exporters, and this included suggesting renegotiated previously agreed prices.

1617
01:22:36,760 --> 01:22:39,280
Speaker 33: But what he's saying is the New Zealand beef exporters

1618
01:22:39,320 --> 01:22:41,040
Speaker 33: are in a strong position. They're not going to be

1619
01:22:41,080 --> 01:22:43,840
Speaker 33: pushed around by these buyers. Were sure to beef are

1620
01:22:43,880 --> 01:22:46,400
Speaker 33: in New Zealand. It's not like we're saying we need

1621
01:22:46,520 --> 01:22:49,320
Speaker 33: six weeks of contracts done because their freezers are full.

1622
01:22:49,600 --> 01:22:52,640
Speaker 33: It's the complete opposite. The meat companies are in a

1623
01:22:52,680 --> 01:22:56,599
Speaker 33: bit of a procurement battle. They're chasing that beef, especially

1624
01:22:56,680 --> 01:23:01,080
Speaker 33: from the farms, and he's saying that the US importers

1625
01:23:01,160 --> 01:23:04,240
Speaker 33: are just saying, look, well, well we'll pay the tariff.

1626
01:23:04,479 --> 01:23:07,960
Speaker 33: And interestingly, I was talking to Andy Bollin, who's the

1627
01:23:08,040 --> 01:23:12,040
Speaker 33: GM of Scales, one of our biggest horticulture companies. He

1628
01:23:12,240 --> 01:23:14,439
Speaker 33: was in China when I chatted to him on my

1629
01:23:14,600 --> 01:23:18,920
Speaker 33: show today and he was talking about exporting juice fruit

1630
01:23:19,040 --> 01:23:22,599
Speaker 33: juice to the US, and the US buyers were saying,

1631
01:23:22,720 --> 01:23:25,240
Speaker 33: we'll just wear the tariff. So maybe that happens at

1632
01:23:25,280 --> 01:23:28,040
Speaker 33: ten percent. I'm not sure Ryan, they'll be saying that

1633
01:23:28,560 --> 01:23:30,160
Speaker 33: at one hundred and twenty five percent.

1634
01:23:30,320 --> 01:23:32,320
Speaker 2: No, I don't think they will be. Jamie, Thank you

1635
01:23:32,439 --> 01:23:35,799
Speaker 2: very much, Jamie, Ryan, always good the chat. Jamie mckaye

1636
01:23:35,880 --> 01:23:37,679
Speaker 2: hosted the Country. Great to have You on the show

1637
01:23:37,680 --> 01:23:40,679
Speaker 2: as the words Jamie twenty nine after six News Talks EDB.

1638
01:23:43,120 --> 01:23:46,839
Speaker 1: Croaching the numbers and getting the results, skits Ryan Bridge

1639
01:23:47,000 --> 01:23:51,200
Speaker 1: with the Business Hour and Mass Insurance and Investments, Grew

1640
01:23:51,320 --> 01:23:53,920
Speaker 1: your Wealth, Protect Your Future News Talks EDB.

1641
01:23:56,800 --> 01:24:13,639
Speaker 2: Seeing it is twenty three minutes away from seven, you're

1642
01:24:13,680 --> 01:24:16,120
Speaker 2: on News Talks B for your Thursday evening. Great to

1643
01:24:16,200 --> 01:24:18,599
Speaker 2: have your company. We can all relax a little bit

1644
01:24:18,600 --> 01:24:21,920
Speaker 2: because it seems like Trump's being semi reasonable to all

1645
01:24:22,000 --> 01:24:25,599
Speaker 2: those people who are saying it's insider trading. Because Trump

1646
01:24:25,680 --> 01:24:30,120
Speaker 2: tweeted after well before he made the announcement made the reversal,

1647
01:24:30,200 --> 01:24:32,280
Speaker 2: he tweeted saying now's a good time to buy, and

1648
01:24:32,400 --> 01:24:36,240
Speaker 2: then he used his initials, which are also the stock

1649
01:24:37,880 --> 01:24:42,400
Speaker 2: acronym for his media empire, Trump Media and Technology. So

1650
01:24:42,479 --> 01:24:44,840
Speaker 2: a lot of people are saying, oh, it's it's insider trading,

1651
01:24:46,240 --> 01:24:48,360
Speaker 2: and Democrats are saying that too. On the one hand,

1652
01:24:48,360 --> 01:24:50,519
Speaker 2: they're saying, oh, he's crazy and he doesn't know what

1653
01:24:50,600 --> 01:24:52,479
Speaker 2: he's doing and he doesn't have a plan. But then

1654
01:24:52,520 --> 01:24:54,600
Speaker 2: on the other hand they're saying it's insider trading. And

1655
01:24:54,680 --> 01:24:56,519
Speaker 2: to do insider trading, you have to have a plan,

1656
01:24:56,640 --> 01:24:58,280
Speaker 2: and he would have to know what he was going

1657
01:24:58,360 --> 01:25:00,880
Speaker 2: to do. And he's been saying buy now for a

1658
01:25:00,960 --> 01:25:03,160
Speaker 2: couple of days, so I'm not sure I buy the argument.

1659
01:25:03,280 --> 01:25:05,439
Speaker 2: But here's some interesting numbers for you. If you did

1660
01:25:05,560 --> 01:25:09,679
Speaker 2: follow Donald Trump's advice, Tesler stocks two hundred and twenty

1661
01:25:09,720 --> 01:25:11,880
Speaker 2: six dollars. That's the minute that he made the post,

1662
01:25:11,960 --> 01:25:14,280
Speaker 2: they were worth two hundred and twenty six dollars twenty seven,

1663
01:25:14,920 --> 01:25:17,799
Speaker 2: they surged to as high as two hundred and seventy

1664
01:25:17,840 --> 01:25:20,800
Speaker 2: four dollars sixty nine. That's a twenty two percent increase today,

1665
01:25:21,360 --> 01:25:24,599
Speaker 2: So if you invested one thousand dollars when Trump's post hit,

1666
01:25:24,760 --> 01:25:27,320
Speaker 2: you could have sold for around twelve hundred and fourteen

1667
01:25:27,439 --> 01:25:31,280
Speaker 2: at session highs. Trump Media and Technology Shares this is

1668
01:25:31,360 --> 01:25:34,800
Speaker 2: his media company. The stock felled to sixteen sixty nine

1669
01:25:34,880 --> 01:25:37,800
Speaker 2: the minute his post went out. This is from the

1670
01:25:37,920 --> 01:25:41,000
Speaker 2: other week. It has since sold to a high twenty

1671
01:25:41,080 --> 01:25:44,040
Speaker 2: dollars and forty that's again a twenty two point two

1672
01:25:44,080 --> 01:25:46,960
Speaker 2: percent jump. If you poured one thousand dollars into the

1673
01:25:46,960 --> 01:25:49,200
Speaker 2: stock the minute of Trump's post, you could have sold

1674
01:25:49,280 --> 01:25:51,960
Speaker 2: for about one thousand, two hundred and twenty two at

1675
01:25:52,080 --> 01:25:55,120
Speaker 2: highs of the day, twenty one minutes.

1676
01:25:54,840 --> 01:25:56,840
Speaker 3: Away from seven Bryan Bridge.

1677
01:25:57,160 --> 01:25:59,559
Speaker 2: That would of course involve you taking financial advice from

1678
01:25:59,600 --> 01:26:02,200
Speaker 2: Donald Try up. Now we're going to get some from

1679
01:26:02,240 --> 01:26:05,320
Speaker 2: Sam Dickey Fisher Funds, who's been watching this all day. Sam,

1680
01:26:05,400 --> 01:26:09,920
Speaker 2: good evening, good evening, right, No advice, but some perspective, yeaps. Yeah,

1681
01:26:09,960 --> 01:26:13,320
Speaker 2: I should tend for myself. Sorry. Now we've obviously been

1682
01:26:13,400 --> 01:26:16,439
Speaker 2: an undated by the news flow. How do you keep

1683
01:26:16,520 --> 01:26:18,880
Speaker 2: track of it all and decide what's important what's not?

1684
01:26:20,200 --> 01:26:23,400
Speaker 38: Yeah, whip saw, you really do need frameworks and roadmaps.

1685
01:26:23,400 --> 01:26:27,000
Speaker 38: Otherwise you are just drowning in headline bombs and you

1686
01:26:27,320 --> 01:26:31,240
Speaker 38: are getting whip swords. So we think about three or

1687
01:26:31,280 --> 01:26:35,679
Speaker 38: four broad framework so geopolitical, economic, equity, market and single

1688
01:26:35,760 --> 01:26:38,760
Speaker 38: stop frameworks. So when we think about geopolitics, we keep

1689
01:26:38,760 --> 01:26:41,160
Speaker 38: it super simple because we're not experts, but we bucket

1690
01:26:41,200 --> 01:26:46,040
Speaker 38: the players into the retaliators. So that's Europe, Canada, Mexico,

1691
01:26:47,320 --> 01:26:51,160
Speaker 38: and then the negotiators so importantly Japan and the Southeast

1692
01:26:51,160 --> 01:26:53,040
Speaker 38: Asia and most other countries, then of course China. So

1693
01:26:53,120 --> 01:26:56,479
Speaker 38: when you think about the retaliators prior to the poors,

1694
01:26:56,520 --> 01:26:58,840
Speaker 38: I mean Europe, it's probably a level playing field when

1695
01:26:58,840 --> 01:27:01,400
Speaker 38: it comes it comes to negotiating with the US. And

1696
01:27:01,760 --> 01:27:04,919
Speaker 38: I think Canada and Mexico were critical crash test dummies,

1697
01:27:05,280 --> 01:27:06,800
Speaker 38: so the US dealt with them in the week's leaning

1698
01:27:06,840 --> 01:27:09,560
Speaker 38: up to Liberation Day, and positively there was no incremental

1699
01:27:09,920 --> 01:27:12,720
Speaker 38: or reciprocal tariffs on top of the initial ones. I

1700
01:27:12,840 --> 01:27:16,600
Speaker 38: think the negotiators being led by Japan is really reimportant,

1701
01:27:17,200 --> 01:27:20,040
Speaker 38: and China it's increasingly looking like they will be the

1702
01:27:20,120 --> 01:27:22,800
Speaker 38: key focus of Trump's second term like they were in

1703
01:27:22,880 --> 01:27:25,280
Speaker 38: his first. So clearly any movement forwards or backwards with

1704
01:27:25,360 --> 01:27:29,759
Speaker 38: those three packets as key. On the economic side, on growth,

1705
01:27:29,960 --> 01:27:31,840
Speaker 38: most economists think there'll be one percent of hit the

1706
01:27:31,840 --> 01:27:35,200
Speaker 38: global growth. On inflation, we'll see a second half spike

1707
01:27:35,240 --> 01:27:37,160
Speaker 38: of about one and a half percent in US inflation.

1708
01:27:37,280 --> 01:27:41,200
Speaker 38: But critically, ryan the market is or was telling us

1709
01:27:41,240 --> 01:27:44,840
Speaker 38: about nine hours ago that the medium term growth drag

1710
01:27:45,360 --> 01:27:48,920
Speaker 38: from these crazy policies will outweigh the short term inflation spike.

1711
01:27:49,000 --> 01:27:51,640
Speaker 38: And we know that because the market had priced in

1712
01:27:51,680 --> 01:27:54,560
Speaker 38: another rate cut by the feed since Liberation Day. And

1713
01:27:54,640 --> 01:27:57,799
Speaker 38: then the final thing on economics is is the mitigants.

1714
01:27:57,880 --> 01:28:01,439
Speaker 38: So before we talk about trump pain threshold, which we've

1715
01:28:01,479 --> 01:28:06,240
Speaker 38: discovered overnight. The first mitigant is easier mantary policy by

1716
01:28:06,240 --> 01:28:08,360
Speaker 38: the Fed and the ECB, and the second one is

1717
01:28:08,439 --> 01:28:10,840
Speaker 38: easier fiscal policy. So in the US we could get

1718
01:28:11,280 --> 01:28:15,200
Speaker 38: more tax cuts, we could see Doge backing off, and

1719
01:28:15,280 --> 01:28:18,599
Speaker 38: in Europe places like Germany are ramping up infrastructure spending.

1720
01:28:20,600 --> 01:28:26,320
Speaker 2: So where two from here, I think we're two from here.

1721
01:28:26,360 --> 01:28:27,160
Speaker 3: What is his the endgame?

1722
01:28:27,680 --> 01:28:29,840
Speaker 38: Where does he blink? What's his pain threshold? So we

1723
01:28:29,920 --> 01:28:32,800
Speaker 38: found that out last night, and I think he was

1724
01:28:32,840 --> 01:28:35,040
Speaker 38: prepared to see more equity market pay and that's become

1725
01:28:35,120 --> 01:28:35,719
Speaker 38: pretty clear.

1726
01:28:36,400 --> 01:28:37,360
Speaker 2: That's a sort of a.

1727
01:28:37,439 --> 01:28:39,400
Speaker 3: Self correcting mechanism.

1728
01:28:39,520 --> 01:28:41,679
Speaker 38: It doesn't feed on itself, but the sort of self

1729
01:28:41,760 --> 01:28:46,599
Speaker 38: reinforcing asset prices that do feed on themselves, like credit.

1730
01:28:47,400 --> 01:28:49,280
Speaker 38: He did sort of score an own goal there. So

1731
01:28:49,360 --> 01:28:53,519
Speaker 38: he saw spiking the spiking cost of corporate borrowing the US.

1732
01:28:54,080 --> 01:28:56,439
Speaker 38: So that had been that's the spread you pay over

1733
01:28:56,520 --> 01:28:59,560
Speaker 38: government bonds to borrow as a risky corporate, and that

1734
01:28:59,680 --> 01:29:02,559
Speaker 38: had been it's sort of fifteen year lows a few

1735
01:29:02,600 --> 01:29:06,639
Speaker 38: weeks ago, and as of sort of eighteen hours ago,

1736
01:29:07,479 --> 01:29:09,519
Speaker 38: it had spiked to some of the worst level scenes

1737
01:29:09,560 --> 01:29:12,480
Speaker 38: in twenty twenty two, So that has a direct transmission

1738
01:29:12,520 --> 01:29:16,960
Speaker 38: mechanism to the average person on the street via borrowing rates.

1739
01:29:17,160 --> 01:29:20,719
Speaker 38: And then we also saw him starting to lose control

1740
01:29:21,000 --> 01:29:25,080
Speaker 38: of the government bond market about sort of sixteen hours ago,

1741
01:29:25,120 --> 01:29:28,040
Speaker 38: and you saw sort of thirty year government bond yield spiking,

1742
01:29:28,120 --> 01:29:32,439
Speaker 38: and that's quite scary, someone calling it his Liz Trust moment.

1743
01:29:33,080 --> 01:29:35,880
Speaker 38: I think those two sort of self reinforcing things caused

1744
01:29:35,920 --> 01:29:38,920
Speaker 38: them to pause. So the point here is, I think

1745
01:29:38,960 --> 01:29:42,840
Speaker 38: if we see any further escalation in China or him

1746
01:29:42,960 --> 01:29:46,519
Speaker 38: flip flopping on the pause with other countries, that will

1747
01:29:46,560 --> 01:29:50,600
Speaker 38: be carefully checked against those the resultant moves in the

1748
01:29:50,680 --> 01:29:53,320
Speaker 38: price of US credit, the price of US government bond,

1749
01:29:53,640 --> 01:29:56,080
Speaker 38: and if they spike again, it seems he will back down.

1750
01:29:57,240 --> 01:29:59,880
Speaker 2: Is it hard? I mean, is this more difficult to

1751
01:30:00,080 --> 01:30:03,880
Speaker 2: predicted than COVID Donald Trump's mind because you're not really

1752
01:30:04,200 --> 01:30:05,960
Speaker 2: you know, you're not really. It doesn't behave in a

1753
01:30:06,080 --> 01:30:08,400
Speaker 2: rational way. Not nor did a virus mind you, But

1754
01:30:08,520 --> 01:30:10,720
Speaker 2: it doesn't behave in a rational way. I mean, I

1755
01:30:10,760 --> 01:30:13,160
Speaker 2: suppose it has, as you say, blinked today, we've we've

1756
01:30:13,160 --> 01:30:15,920
Speaker 2: figured out the pain threshold. But it's very it must

1757
01:30:15,960 --> 01:30:19,240
Speaker 2: be very hard to get to have irrational thoughts on

1758
01:30:20,520 --> 01:30:20,920
Speaker 2: it is.

1759
01:30:21,000 --> 01:30:22,720
Speaker 38: I mean, it is sort of similar to COVID in

1760
01:30:22,720 --> 01:30:26,120
Speaker 38: the early days, and we just didn't know how serious

1761
01:30:26,200 --> 01:30:29,160
Speaker 38: this this virus was going to be and how it

1762
01:30:29,320 --> 01:30:33,400
Speaker 38: was going to sort of morph from one virulent strain

1763
01:30:33,439 --> 01:30:37,080
Speaker 38: to another. But it's quite apt, actually got app appt comparison, Ryan,

1764
01:30:37,160 --> 01:30:40,160
Speaker 38: But I think that that's I mean, all these things

1765
01:30:40,160 --> 01:30:42,360
Speaker 38: are the same and the respect that we don't know,

1766
01:30:42,680 --> 01:30:47,000
Speaker 38: and that's the point. They're hard to precisely price or

1767
01:30:47,160 --> 01:30:49,880
Speaker 38: understand or even keep up with. That's why if you

1768
01:30:49,880 --> 01:30:52,040
Speaker 38: don't want to drown in these headline bombs, you have

1769
01:30:52,080 --> 01:30:54,360
Speaker 38: to have these sort of simple frameworks to think about things.

1770
01:30:54,400 --> 01:30:56,440
Speaker 38: And the other thing is your own portfolio.

1771
01:30:56,560 --> 01:30:56,800
Speaker 1: Ryan.

1772
01:30:57,560 --> 01:31:00,479
Speaker 38: You put it into four buckets, so companies direct impacted

1773
01:31:00,520 --> 01:31:04,600
Speaker 38: by US tariffs, companies directly impacted by retaliatory tariffs, and

1774
01:31:04,720 --> 01:31:07,599
Speaker 38: then how those companies are relatively positioned within their sector

1775
01:31:07,680 --> 01:31:10,160
Speaker 38: so that do they have a manufacturing advantage, do they

1776
01:31:10,200 --> 01:31:13,200
Speaker 38: have pricing powers so they can pass on any cost increases?

1777
01:31:13,840 --> 01:31:16,479
Speaker 38: And the final bucket is companies in the way of

1778
01:31:16,520 --> 01:31:19,920
Speaker 38: a probable economic slowdown. So that's the sort of four

1779
01:31:19,960 --> 01:31:22,720
Speaker 38: buckets you think about any investment you're making, and as

1780
01:31:22,840 --> 01:31:27,280
Speaker 38: of twenty four hours ago, every bucket, so the directly impacted,

1781
01:31:27,320 --> 01:31:31,040
Speaker 38: the indirectly impacted, and even the supposedly not impacted, had

1782
01:31:31,160 --> 01:31:35,400
Speaker 38: been indiscriminately over sold. So that was pretty good buying.

1783
01:31:35,520 --> 01:31:39,360
Speaker 38: But now we're in a more sort of picky environment.

1784
01:31:40,760 --> 01:31:44,160
Speaker 2: Yeah, so what do we do now? I mean, have

1785
01:31:44,280 --> 01:31:46,679
Speaker 2: we missed our opportunity to make a bunch of money?

1786
01:31:48,280 --> 01:31:52,400
Speaker 38: I mean, look, when when fear gets as elevated as

1787
01:31:52,439 --> 01:31:54,880
Speaker 38: it was sort of again twenty four hours ago, you know,

1788
01:31:55,000 --> 01:31:59,240
Speaker 38: sentiment engages are a a good barometer, and you know

1789
01:31:59,360 --> 01:32:01,880
Speaker 38: we were deep in fear to dear territory. Some of

1790
01:32:01,920 --> 01:32:03,800
Speaker 38: the fear gauges we track with the worse they've been

1791
01:32:04,040 --> 01:32:08,120
Speaker 38: in twenty five years. I do think there's when there's

1792
01:32:08,120 --> 01:32:10,920
Speaker 38: blood on the streets, there's opportunity around. That of course

1793
01:32:10,960 --> 01:32:13,400
Speaker 38: doesn't mean it's a long term investor that the opportunity's gone.

1794
01:32:13,479 --> 01:32:14,920
Speaker 38: It just means you need to be a bit more picky.

1795
01:32:15,000 --> 01:32:18,479
Speaker 38: And I do think, as always, companies with wide and

1796
01:32:18,600 --> 01:32:22,479
Speaker 38: widening economic moats around their businesses, long growth runways run

1797
01:32:22,560 --> 01:32:25,080
Speaker 38: by high quality people are a pretty good place to start.

1798
01:32:25,360 --> 01:32:28,280
Speaker 2: Sam, appreciate your time, Sam Dickey, Fisher Funds. It is

1799
01:32:28,439 --> 01:32:29,960
Speaker 2: quarter to seven. We're in the UK next.

1800
01:32:30,120 --> 01:32:34,240
Speaker 1: Whether it's macro, micro or just plain economics, it's all

1801
01:32:34,320 --> 01:32:38,400
Speaker 1: on the business hour with Ryan Bridge and players, insurance

1802
01:32:38,520 --> 01:32:41,519
Speaker 1: and investments. Grow your wealth, protect your future.

1803
01:32:41,680 --> 01:32:44,920
Speaker 2: These dogs that be in the bradio are UK correspondent

1804
01:32:44,920 --> 01:32:48,760
Speaker 2: with us at twelve minutes away from seven. Get a ender. Hey, Ryan,

1805
01:32:48,840 --> 01:32:50,640
Speaker 2: Great to speak to you again and to you now.

1806
01:32:50,760 --> 01:32:54,719
Speaker 2: Keir Starmers says the economy will struggle regardless of tariff's

1807
01:32:54,800 --> 01:32:57,240
Speaker 2: or does he mean whether there's tariffs or not, or

1808
01:32:57,320 --> 01:32:58,680
Speaker 2: regardless of what the rate might be.

1809
01:33:00,280 --> 01:33:02,920
Speaker 15: I think Starmar's pointing out to people that even if

1810
01:33:03,000 --> 01:33:06,040
Speaker 15: he manages to negotiate an exemption from the Trump tariffs,

1811
01:33:06,600 --> 01:33:08,880
Speaker 15: we're going to be hit by the kind of tailwinds

1812
01:33:08,960 --> 01:33:12,080
Speaker 15: because everyone is going to be affected. So I think

1813
01:33:12,120 --> 01:33:15,479
Speaker 15: he's setting his stall out. The negotiations are clearly going

1814
01:33:15,560 --> 01:33:18,240
Speaker 15: on behind the scenes, and the word from Downing Street

1815
01:33:18,400 --> 01:33:22,080
Speaker 15: is that the time now is for cool and calm heads.

1816
01:33:22,520 --> 01:33:24,840
Speaker 15: And I think it's been so kind of quiet in

1817
01:33:24,920 --> 01:33:27,720
Speaker 15: the media here the last few days. Nobody seems to

1818
01:33:27,800 --> 01:33:30,200
Speaker 15: be panicking. I get the impression behind the scenes they're

1819
01:33:30,240 --> 01:33:33,479
Speaker 15: quietly confident that Trump will give the UK a pass.

1820
01:33:33,840 --> 01:33:36,760
Speaker 15: Now we have no confirmation of that, but Starmar's just

1821
01:33:36,800 --> 01:33:39,080
Speaker 15: pointing out that even if an exemption comes and we

1822
01:33:39,160 --> 01:33:42,800
Speaker 15: get zero percent in terms of a deal with the US,

1823
01:33:43,640 --> 01:33:46,519
Speaker 15: the British economy will still be hit. And let's face it,

1824
01:33:46,600 --> 01:33:49,440
Speaker 15: you know there's no growth here at the moment, flatlining

1825
01:33:49,479 --> 01:33:51,240
Speaker 15: along as it has been for a couple of years.

1826
01:33:52,000 --> 01:33:53,679
Speaker 15: We're in for a very difficult few years.

1827
01:33:53,720 --> 01:33:56,960
Speaker 2: Ohad, Yeah, Iver and Italy. I thought the King wasn't

1828
01:33:57,000 --> 01:33:59,360
Speaker 2: going to make the pipe. Is this a surprise with

1829
01:33:59,439 --> 01:33:59,840
Speaker 2: the pipe?

1830
01:34:01,040 --> 01:34:02,720
Speaker 15: Yes, it is. So we were told that this would

1831
01:34:02,760 --> 01:34:05,000
Speaker 15: not be taking place out of respect for the Pope's

1832
01:34:05,080 --> 01:34:08,040
Speaker 15: health and his recovery. And then out of nowhere they

1833
01:34:08,120 --> 01:34:09,800
Speaker 15: let it be known late last night that the King

1834
01:34:09,880 --> 01:34:13,000
Speaker 15: had indeed gone to the Vatican, so we knew he

1835
01:34:13,200 --> 01:34:16,040
Speaker 15: was going to be in Rome meeting Georgia Maloney. They

1836
01:34:16,120 --> 01:34:18,200
Speaker 15: got on very well. Lots of pictures in the papers

1837
01:34:18,200 --> 01:34:21,080
Speaker 15: today of Charles making her laugh. He gave a speech

1838
01:34:21,160 --> 01:34:23,759
Speaker 15: to the Italian Parliament where he cracked a few jokes

1839
01:34:23,800 --> 01:34:26,320
Speaker 15: as well. He actually got a standing ovation from the

1840
01:34:26,400 --> 01:34:30,720
Speaker 15: Italian politicians, and there was one funny line Charles came

1841
01:34:30,760 --> 01:34:32,840
Speaker 15: out with, because he's a big Monty Python fan. He

1842
01:34:32,920 --> 01:34:35,560
Speaker 15: said he's never been a subscriber of the view. What

1843
01:34:35,720 --> 01:34:37,760
Speaker 15: have the Romans ever done for us? And that got

1844
01:34:37,800 --> 01:34:40,760
Speaker 15: a few laughs out of the Italian politicians. So and

1845
01:34:40,880 --> 01:34:43,320
Speaker 15: then off he went privately to the Vatican and he

1846
01:34:43,400 --> 01:34:46,800
Speaker 15: spent time with Pupe Francis so a lovely touch. And remember,

1847
01:34:46,840 --> 01:34:49,880
Speaker 15: of course, Charles, Leader of the Church of England, defender

1848
01:34:49,920 --> 01:34:50,360
Speaker 15: of the faith.

1849
01:34:51,360 --> 01:34:55,680
Speaker 2: Who's this Premier League footballer with a very expensive car

1850
01:34:55,880 --> 01:34:56,920
Speaker 2: that's been seized.

1851
01:34:58,560 --> 01:35:00,360
Speaker 15: This is a guy who plays for a ch we'll see.

1852
01:35:00,360 --> 01:35:03,040
Speaker 15: He's an Ecuador international. He's one of the highest paid

1853
01:35:03,040 --> 01:35:06,680
Speaker 15: midfielders in the English Premier League. Moyses Kisado is his name,

1854
01:35:07,200 --> 01:35:09,360
Speaker 15: and he may well be getting a lift to work

1855
01:35:09,400 --> 01:35:13,160
Speaker 15: today because it turns out he has no UK driving license.

1856
01:35:13,560 --> 01:35:16,360
Speaker 15: He's been in England four years, four years in the

1857
01:35:16,400 --> 01:35:20,120
Speaker 15: Premier League. He's a multimillionaire and the allegation is that

1858
01:35:20,560 --> 01:35:23,519
Speaker 15: he does not have a British driving license. So he

1859
01:35:23,600 --> 01:35:26,719
Speaker 15: got pulled by the cops yesterday driving a three hundred

1860
01:35:26,720 --> 01:35:30,479
Speaker 15: and twenty thousand dollars AUDI that has now been seized

1861
01:35:30,960 --> 01:35:34,160
Speaker 15: and the police investigation continues. Chelsea say it's a private

1862
01:35:34,240 --> 01:35:37,680
Speaker 15: matter and the player himself, Cado, has not commented, so

1863
01:35:38,360 --> 01:35:40,680
Speaker 15: there you go. Look, I'm guessing it's the paperwork. He

1864
01:35:40,760 --> 01:35:43,720
Speaker 15: has a driving license clearly, but just not a UK

1865
01:35:43,960 --> 01:35:46,439
Speaker 15: one and that actually is a criminal offense. So it's

1866
01:35:46,479 --> 01:35:48,120
Speaker 15: true he's in a lot of trouble.

1867
01:35:48,439 --> 01:35:50,880
Speaker 2: I'm sure he can find someone who wouldn't mind driving

1868
01:35:50,920 --> 01:35:52,880
Speaker 2: the cap for him and being his stripe for him

1869
01:35:53,560 --> 01:35:56,280
Speaker 2: in the things for that in the Brady, a UK correspondent,

1870
01:35:56,320 --> 01:35:58,200
Speaker 2: it is nine to seven News Talk si'd.

1871
01:35:58,040 --> 01:36:01,840
Speaker 1: Be it's the hit Tuople c Allen Drive Full Show

1872
01:36:01,960 --> 01:36:07,240
Speaker 1: podcast on iHeartRadio powered by Newstalk ZBB News.

1873
01:36:07,080 --> 01:36:10,160
Speaker 2: Talk ZB just gone six away from seven. So OfficeMax

1874
01:36:10,200 --> 01:36:13,479
Speaker 2: we all know the name, household name Project inquill owns

1875
01:36:13,560 --> 01:36:17,839
Speaker 2: it the parent company of three Officemac entities. They've reported

1876
01:36:17,920 --> 01:36:22,840
Speaker 2: today profits are up thirty four point two percent net

1877
01:36:22,920 --> 01:36:26,479
Speaker 2: profit up pretty impressive when you consider where they were

1878
01:36:26,560 --> 01:36:28,240
Speaker 2: just a couple of years ago. They had to close

1879
01:36:28,360 --> 01:36:31,240
Speaker 2: or basically close most of their physical stores after COVID

1880
01:36:31,360 --> 01:36:35,320
Speaker 2: and went to exclusively e commerce only. They've done this

1881
01:36:35,600 --> 01:36:38,400
Speaker 2: by so ten point four to three million. Despite sales

1882
01:36:38,439 --> 01:36:41,360
Speaker 2: declining three point eight nine percent in the year, they

1883
01:36:41,439 --> 01:36:44,040
Speaker 2: have managed to boost net profit by thirty two percent.

1884
01:36:44,080 --> 01:36:47,360
Speaker 2: They've done this by basically trimming cost which is impressive

1885
01:36:47,680 --> 01:36:50,040
Speaker 2: two point five million dollars off of fifty one million

1886
01:36:50,040 --> 01:36:54,080
Speaker 2: dollar employee benefits among them. Twenty nineteen, the company made

1887
01:36:54,080 --> 01:36:57,519
Speaker 2: a one point six million dollar net loss, so they

1888
01:36:57,600 --> 01:37:00,479
Speaker 2: have turned things around. Keeping your costs on the control.

1889
01:37:00,600 --> 01:37:03,960
Speaker 2: That's the way to go, isn't it. Twenty Sorry, five

1890
01:37:04,040 --> 01:37:06,559
Speaker 2: minutes away from seven o'clock news talk Sebb, what are

1891
01:37:06,560 --> 01:37:07,360
Speaker 2: we going out to? Ants?

1892
01:37:07,640 --> 01:37:09,559
Speaker 18: When I come around by Green Day to play us

1893
01:37:09,600 --> 01:37:12,840
Speaker 18: out tonight, Ryan, We've got Coachella. The first weekend of

1894
01:37:12,880 --> 01:37:15,920
Speaker 18: Coachella is happening this weekend. Reminder of you, if you're

1895
01:37:15,920 --> 01:37:18,040
Speaker 18: not flying to California yourself, which is quite fair enough

1896
01:37:18,040 --> 01:37:19,840
Speaker 18: in the cost of living crisis, you can actually watch

1897
01:37:19,840 --> 01:37:22,360
Speaker 18: the whole thing live. It's it all streams live on YouTube.

1898
01:37:22,439 --> 01:37:24,960
Speaker 18: So obviously we're a day ahead of the US. So

1899
01:37:25,120 --> 01:37:28,040
Speaker 18: the Friday all start at about eleven am Saturday our time,

1900
01:37:28,080 --> 01:37:30,200
Speaker 18: and then go into the evening and then Green Day

1901
01:37:30,280 --> 01:37:32,880
Speaker 18: are the headliners on Saturday. So they'll probably be playing

1902
01:37:32,920 --> 01:37:35,439
Speaker 18: in the evening on Sunday our time. The headliner on

1903
01:37:36,040 --> 01:37:39,719
Speaker 18: Saturday our time will be Lady Gaga. And then on Monday,

1904
01:37:39,800 --> 01:37:41,599
Speaker 18: if you take the day off work to watch Coachella,

1905
01:37:41,640 --> 01:37:44,599
Speaker 18: which is you know fair enough, then you'll see post alone.

1906
01:37:45,240 --> 01:37:48,120
Speaker 2: Sure there'd be a Gisban counselor somewhere who can do that. Yes,

1907
01:37:48,560 --> 01:37:52,000
Speaker 2: easily arranged. Hey, and just before you go, before we go,

1908
01:37:52,560 --> 01:37:54,519
Speaker 2: this will be my last shift with you, very much.

1909
01:37:54,560 --> 01:37:56,720
Speaker 2: I'm sorry, not ever, Ryan, well hopefully not ever, but

1910
01:37:57,160 --> 01:37:59,040
Speaker 2: for the last couple of months I've been filling them

1911
01:37:59,080 --> 01:38:01,559
Speaker 2: for here. The she's back on Monday, but this will

1912
01:38:01,600 --> 01:38:03,439
Speaker 2: be my last shift with you because you're away tomorrow.

1913
01:38:03,479 --> 01:38:06,080
Speaker 2: Thank you very much. You've been great, excellent work rand here.

1914
01:38:06,120 --> 01:38:07,519
Speaker 18: The shoes are not easy to fill, and you've done

1915
01:38:07,520 --> 01:38:09,439
Speaker 18: a brilliant job, and hopefully you continue doing a brilliant

1916
01:38:09,479 --> 01:38:11,439
Speaker 18: job tomorrow. Even without my guiding hand. It's going to

1917
01:38:11,439 --> 01:38:12,559
Speaker 18: be difficult, but it'll be hard.

1918
01:38:12,720 --> 01:38:15,360
Speaker 2: It'll be hard. In and Laura, I'll say goodbye to

1919
01:38:15,400 --> 01:38:19,240
Speaker 2: you tomorrow, not that you talk, which is weird anyway,

1920
01:38:19,560 --> 01:38:21,720
Speaker 2: Have a good evening, run se tomorrow Friday.

1921
01:38:22,000 --> 01:38:27,400
Speaker 36: Down Thank God time right, so don't.

1922
01:38:27,240 --> 01:38:28,360
Speaker 7: Do what to buy.

1923
01:38:31,520 --> 01:38:40,839
Speaker 36: Badun you get.

1924
01:38:40,720 --> 01:38:46,880
Speaker 5: Job for something and it's just done right. No, dumb no,

1925
01:38:47,080 --> 01:38:47,519
Speaker 5: there's no.

1926
01:38:47,720 --> 01:38:54,760
Speaker 16: World done nowhere.

1927
01:38:53,720 --> 01:39:21,320
Speaker 36: Where come, not down, don't go worlds their well.

1928
01:39:23,600 --> 01:39:33,880
Speaker 5: Conrad aware, not congres

1929
01:39:37,920 --> 01:39:48,559
Speaker 1: Not For more from Hither duplessy Alan Drive, Listen live

1930
01:39:48,680 --> 01:39:51,560
Speaker 1: to news talks it'd be from four pm weekdays, or

1931
01:39:51,600 --> 01:39:53,640
Speaker 1: follow the podcast on iHeartRadio