1 00:00:05,040 --> 00:00:06,840 Speaker 1: If you know it, you know it, and if you 2 00:00:06,880 --> 00:00:09,840 Speaker 1: know it, you love it. An American fan of Bluey 3 00:00:09,920 --> 00:00:13,239 Speaker 1: has only this week learned why the Healer family are 4 00:00:13,280 --> 00:00:17,240 Speaker 1: all wearing paper crowns in the season two episode Christmas Swim. 5 00:00:17,680 --> 00:00:20,520 Speaker 1: So while the crowns being worn at Christmas time are 6 00:00:20,880 --> 00:00:24,560 Speaker 1: clearly recognizable to us and to Ozzie viewers as the 7 00:00:24,560 --> 00:00:28,159 Speaker 1: silly hats that we all reluctantly wear over Christmas, it 8 00:00:28,200 --> 00:00:32,080 Speaker 1: turns out that Christmas crackers aren't really a thing in America. 9 00:00:32,400 --> 00:00:35,520 Speaker 1: And did you know that Ozzie's sometimes refer to Christmas 10 00:00:35,560 --> 00:00:38,360 Speaker 1: crackers as bon bonds. We're going to get Murray Olds 11 00:00:38,400 --> 00:00:41,120 Speaker 1: to explain that the man, the myth, the legend is 12 00:00:41,159 --> 00:00:42,879 Speaker 1: with us. Now, you don't call them bon bonds, do 13 00:00:42,920 --> 00:00:44,240 Speaker 1: you marry mate? 14 00:00:45,240 --> 00:00:48,239 Speaker 2: I think I have heard them called bon bonds, Jack, 15 00:00:48,320 --> 00:00:51,280 Speaker 2: But a bon bond can also be a small piece 16 00:00:51,280 --> 00:00:54,560 Speaker 2: of confectionery cardecy. Yeah, I think it's probably more where 17 00:00:54,600 --> 00:01:00,160 Speaker 2: my linguistic kind of leanings would head in terms of awe. 18 00:01:00,760 --> 00:01:02,680 Speaker 2: I think a bond bond, I mean, a cracker is 19 00:01:02,720 --> 00:01:03,639 Speaker 2: a cracker, but. 20 00:01:03,640 --> 00:01:06,200 Speaker 1: A bonbond suite is also wrapped in the kind of 21 00:01:06,280 --> 00:01:07,920 Speaker 1: style of a Christmas cracker, isn't it. 22 00:01:07,920 --> 00:01:08,959 Speaker 2: It's true, that is true. 23 00:01:08,959 --> 00:01:10,320 Speaker 1: So I wonder if it's got something to do with 24 00:01:10,360 --> 00:01:12,880 Speaker 1: the kind of you know, the style of the two. 25 00:01:12,920 --> 00:01:15,000 Speaker 2: Ends, your outstanding. 26 00:01:15,240 --> 00:01:19,880 Speaker 1: Well, these are the issues that matter, clearly, Hey, this 27 00:01:19,920 --> 00:01:23,119 Speaker 1: is this is something else our great nations have in common. 28 00:01:23,200 --> 00:01:25,840 Speaker 1: Your reserve bank, your central bank is compon criticism for 29 00:01:25,840 --> 00:01:26,800 Speaker 1: getting it wrong again. 30 00:01:27,520 --> 00:01:30,720 Speaker 2: Well, that's what a lot of economists are saying. The 31 00:01:30,760 --> 00:01:33,680 Speaker 2: Australian cash right four point three five percent. It's been 32 00:01:33,760 --> 00:01:36,240 Speaker 2: that way for if I said eighteen months, it must 33 00:01:36,240 --> 00:01:38,800 Speaker 2: be nudging up towards two years, So four point three 34 00:01:38,920 --> 00:01:43,600 Speaker 2: five percent, and people are squealing and screaming and debate 35 00:01:43,640 --> 00:01:46,400 Speaker 2: about the extent of which Australia Is Reserve Bank is 36 00:01:46,800 --> 00:01:50,520 Speaker 2: hanging on to that to those settings is now ramping 37 00:01:50,600 --> 00:01:54,680 Speaker 2: up because there are nine newspapers. Has the story A 38 00:01:54,800 --> 00:01:59,840 Speaker 2: number of economists don't. They call it the dismal science economists. 39 00:02:00,120 --> 00:02:02,080 Speaker 2: Some of them believe the bank is getting it wrong 40 00:02:02,120 --> 00:02:05,280 Speaker 2: by fixating on an unemployment rate of four and a 41 00:02:05,320 --> 00:02:09,000 Speaker 2: half percent. That's where the bank has already said it 42 00:02:09,080 --> 00:02:11,959 Speaker 2: wants unemployment to be to take some of the heat 43 00:02:12,000 --> 00:02:14,760 Speaker 2: out of the economy. Well, these economists are saying, on 44 00:02:14,800 --> 00:02:16,560 Speaker 2: a second, that's you know, you don't have to go 45 00:02:16,639 --> 00:02:18,920 Speaker 2: that deep. It could be four and a quarter percent. 46 00:02:19,200 --> 00:02:21,240 Speaker 2: I mean, right now, what's the employment rate? Let me 47 00:02:21,280 --> 00:02:23,760 Speaker 2: just have a quick look at you there you go. Look, 48 00:02:23,880 --> 00:02:27,200 Speaker 2: they want the inflation rate the Reserve Bank to be 49 00:02:27,200 --> 00:02:30,960 Speaker 2: between two and three percent. The unemployment rate currently four 50 00:02:30,960 --> 00:02:34,080 Speaker 2: point one percent. If you go to four point five percent, 51 00:02:34,120 --> 00:02:36,000 Speaker 2: here's the note I was looking for. That means an 52 00:02:36,000 --> 00:02:39,040 Speaker 2: extra seventy five thousand people out of work. And do 53 00:02:39,080 --> 00:02:41,200 Speaker 2: you really want that? I mean, I'm not sure you 54 00:02:41,240 --> 00:02:44,080 Speaker 2: want that. But here's the thing. The Reserve Bank does 55 00:02:44,120 --> 00:02:46,400 Speaker 2: not want to take the foot off the brake and 56 00:02:46,520 --> 00:02:50,800 Speaker 2: let inflation get away again having gone through all this pain. 57 00:02:50,880 --> 00:02:53,320 Speaker 2: That would be simply untenable. They could not do that, 58 00:02:53,400 --> 00:02:57,000 Speaker 2: couldn't afflicted them the population. And I suggest Michelle Bullock 59 00:02:57,080 --> 00:02:59,160 Speaker 2: might vote yourself out of a job if that happens. 60 00:02:59,440 --> 00:03:02,000 Speaker 2: So look at it, balancing act, and you've got e 61 00:03:02,000 --> 00:03:04,440 Speaker 2: columnists saying one thing, you know, I mean, there's a 62 00:03:04,480 --> 00:03:07,360 Speaker 2: lot of debate about this. The Reserve Bank has got it. 63 00:03:08,720 --> 00:03:13,080 Speaker 2: You know, Michelle Bullock is a very very strong central 64 00:03:13,120 --> 00:03:15,600 Speaker 2: bank governor. She will take no rubbish from the government 65 00:03:15,960 --> 00:03:17,000 Speaker 2: and she'll do it her way. 66 00:03:17,520 --> 00:03:20,200 Speaker 1: So we are currently at four point two five percent 67 00:03:20,480 --> 00:03:23,480 Speaker 1: as of Wednesday of last week. So I'm just comparing 68 00:03:23,520 --> 00:03:26,480 Speaker 1: it and just right, no, no, no, for our cash rate. 69 00:03:26,560 --> 00:03:26,760 Speaker 2: Yeah. 70 00:03:27,160 --> 00:03:30,160 Speaker 1: So, so a one year fixed period in Australia right 71 00:03:30,200 --> 00:03:33,080 Speaker 1: now on four point three five with an LVR of 72 00:03:33,400 --> 00:03:36,280 Speaker 1: sixty percent or less is about six point twenty nine 73 00:03:36,560 --> 00:03:40,360 Speaker 1: according to NAB six point twenty nine for a year. Yeah, 74 00:03:40,400 --> 00:03:41,920 Speaker 1: I think I think you get. I mean, you can 75 00:03:41,960 --> 00:03:44,280 Speaker 1: definitely get cheaper one year rates than that in New 76 00:03:44,360 --> 00:03:45,800 Speaker 1: Zealand at the moment. But I might be putting you 77 00:03:45,800 --> 00:03:47,640 Speaker 1: on the spot here, Murray. Is there a we have 78 00:03:47,680 --> 00:03:49,400 Speaker 1: this think called the dual or we had this thing 79 00:03:49,480 --> 00:03:51,920 Speaker 1: called the dual mandate for the reserve banks. The Reserve 80 00:03:51,960 --> 00:03:54,440 Speaker 1: Bank had to keep in mind interest rates, I had 81 00:03:54,800 --> 00:03:57,279 Speaker 1: had to keep a mind inflation as well as unemployment. 82 00:03:57,720 --> 00:04:00,640 Speaker 1: But is that is that an explicit requirement of Australia's 83 00:04:00,640 --> 00:04:01,120 Speaker 1: Central Bank? 84 00:04:01,160 --> 00:04:06,080 Speaker 2: Now I've not heard that phrase applied to the beautiful 85 00:04:06,120 --> 00:04:09,480 Speaker 2: building in Martin Place in Sydney. But look, they are 86 00:04:09,520 --> 00:04:14,000 Speaker 2: watching both of those of those metrics, There's no doubt 87 00:04:14,000 --> 00:04:16,840 Speaker 2: about it. They're watching unemployment and they are very well 88 00:04:16,839 --> 00:04:20,279 Speaker 2: aware of inflation, and the two are inextricably linked. So 89 00:04:20,880 --> 00:04:22,799 Speaker 2: to the extent that you've got a name for yours, 90 00:04:22,839 --> 00:04:24,560 Speaker 2: I'm not sure we've got a name for ours, but yeh, 91 00:04:24,880 --> 00:04:26,000 Speaker 2: that's your bottom gone. They both. 92 00:04:26,040 --> 00:04:28,880 Speaker 1: Look, we had we had, we had a dual mandate. 93 00:04:28,920 --> 00:04:31,160 Speaker 1: This was the first thing, the very first thing this 94 00:04:31,160 --> 00:04:32,960 Speaker 1: new government did was scraped the dual mandates. So and 95 00:04:32,960 --> 00:04:36,840 Speaker 1: they're no longer focusing on maximum employment. They're focusing on 96 00:04:37,720 --> 00:04:40,839 Speaker 1: focusing on inflation, and inflation only tell us about the 97 00:04:40,880 --> 00:04:42,760 Speaker 1: teams have been breaking into train cars. 98 00:04:43,400 --> 00:04:46,080 Speaker 2: Look, this is a thing that's apparently been going on 99 00:04:46,120 --> 00:04:48,320 Speaker 2: for some time, but it's I think it's got some 100 00:04:48,360 --> 00:04:53,040 Speaker 2: recent publicity because one young fella just about god himself killed. 101 00:04:53,080 --> 00:04:56,159 Speaker 2: He broke if he broke his league in five places, 102 00:04:56,920 --> 00:05:01,240 Speaker 2: ReBs smashed his head up. Because what's happening. These kids 103 00:05:01,279 --> 00:05:05,240 Speaker 2: are getting onto moving trains, putting themselves in the end 104 00:05:05,320 --> 00:05:09,000 Speaker 2: carriage and then breaking into the guards a compartment at 105 00:05:09,000 --> 00:05:12,200 Speaker 2: the end of the moving train. Right because trains can 106 00:05:12,240 --> 00:05:15,599 Speaker 2: go either way northward and go south. So they've broken 107 00:05:15,680 --> 00:05:18,960 Speaker 2: into the unoccupied into the train and then, for reasons 108 00:05:18,960 --> 00:05:21,359 Speaker 2: best now to themselves these silly little buggers that start 109 00:05:21,440 --> 00:05:25,400 Speaker 2: dangling from the outsides of the trains. Now they can 110 00:05:25,440 --> 00:05:29,839 Speaker 2: also be caught riding on the couplings that link the carriages. 111 00:05:30,800 --> 00:05:34,040 Speaker 2: And here's the stat last five years, twenty people killed 112 00:05:34,080 --> 00:05:39,360 Speaker 2: and thirty six injured inside secure will allegedly secure rail corridors. 113 00:05:39,560 --> 00:05:42,080 Speaker 2: It's called buffer riding. And never guess why they're doing it, 114 00:05:42,360 --> 00:05:44,800 Speaker 2: but in social media they want to get Facebook likes 115 00:05:44,880 --> 00:05:46,680 Speaker 2: or whatever the tik took, whatever the hell it is. 116 00:05:47,200 --> 00:05:49,960 Speaker 2: As so some bloken Lapland can go, oh, look at 117 00:05:49,960 --> 00:05:52,400 Speaker 2: that crazy Ozzies he splats himself against a pole. 118 00:05:52,640 --> 00:05:57,480 Speaker 1: Yeah, yeah, that's horrible. Yeah, that's crazy. And woolworth shelves 119 00:05:57,520 --> 00:05:59,520 Speaker 1: are empty thanks to a strike. 120 00:06:00,160 --> 00:06:03,640 Speaker 2: Not entirely empty, and it's apparently worse than some spots 121 00:06:03,760 --> 00:06:06,760 Speaker 2: rather than others. But here's the thing. There are distribution 122 00:06:06,880 --> 00:06:11,880 Speaker 2: workers at Big Woolworth's centers three in Victoria, one in 123 00:06:11,920 --> 00:06:14,880 Speaker 2: New South Wales. The main ones are down south. And 124 00:06:14,920 --> 00:06:17,640 Speaker 2: here's the thing. The workers are picketing. They're on striking. 125 00:06:17,640 --> 00:06:21,279 Speaker 2: They're picketing to stop management and other other workers getting 126 00:06:21,320 --> 00:06:25,320 Speaker 2: in because they are demanding fairly significant wage rises and 127 00:06:25,400 --> 00:06:28,640 Speaker 2: much better conditions Wilworth says it's too much, can't pay it. 128 00:06:29,000 --> 00:06:31,320 Speaker 2: So while this is going on, you got you know, 129 00:06:31,360 --> 00:06:33,120 Speaker 2: if you're coming over hold they bring your own toilet 130 00:06:33,160 --> 00:06:37,600 Speaker 2: paper because we're bringing short. Wulworth stores, bread, drinks, frozen 131 00:06:37,640 --> 00:06:41,080 Speaker 2: foods also are being impacted. The United Workers Union says, well, 132 00:06:41,120 --> 00:06:43,840 Speaker 2: we're tough teddies heading into Christmas pay up, but we're 133 00:06:43,839 --> 00:06:46,160 Speaker 2: going to keep going. And you know there's no end 134 00:06:46,200 --> 00:06:48,880 Speaker 2: in sight at the stage. But look, I think if 135 00:06:48,920 --> 00:06:50,480 Speaker 2: push comes to show, if you're going to have you 136 00:06:50,600 --> 00:06:54,080 Speaker 2: lab all the stuff on the stores shelves by Christmas. 137 00:06:54,000 --> 00:06:55,960 Speaker 1: Yeah, now I'm pleased to hear that, that would be 138 00:06:56,000 --> 00:06:58,839 Speaker 1: a real crisis. Thanks Mary, appreciate it. As Eve Australian 139 00:06:58,839 --> 00:07:01,360 Speaker 1: correspondent Murray OLDI thank you for your feedback as well. Jack. 140 00:07:02,040 --> 00:07:05,200 Speaker 2: For more from Hither Duplessy Allen Drive, listen live to 141 00:07:05,279 --> 00:07:08,320 Speaker 2: news Talks at b from four pm weekdays, or follow 142 00:07:08,360 --> 00:07:10,080 Speaker 2: the podcast on iHeartRadio.