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Speaker 1: The ZM podcast Network, pleas Wood and Hayley's Little bit

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Speaker 1: of Pod treat yourself to mcafe coffee with my macas rewards.

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Speaker 1: Welcome to a little bit of Pod and just a

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Speaker 1: reminder our Christmas Cocktail special our shout outs. It's going

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Speaker 1: to be happening. We're going to be recording this early December,

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Speaker 1: so you've got to the fourth of December to get

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Speaker 1: your Christmas Cocktail special shout out. In you can go

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Speaker 1: to zenim online dot com slash cocktail special, or if

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Speaker 1: you're in New Zealing, you can text one word cocktail

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Speaker 1: special to nine six nine six and we'll send you

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Speaker 1: back a link.

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Speaker 2: But right now, let's shout out the fourth member of

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Speaker 2: our team. Right now, Bad News Brand and Studio. Thank you,

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Speaker 2: chief executive and principal economist.

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Speaker 3: Info Metrics nailed it.

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Speaker 1: Did I know that you did nail it every time online?

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Speaker 1: Don't get that wrong or is it principal now? Brad,

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Speaker 1: Obviously we love talking to you, but on era we

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Speaker 1: could talk to you forever. But you know we don't

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Speaker 1: have all the time of year.

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Speaker 2: We're going to go have brunch because we're friends, we're

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Speaker 2: genuine free. I think you can hear it.

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Speaker 3: I think it comes through.

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Speaker 4: I think it comes.

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Speaker 1: We are see how that day when we had you in,

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Speaker 1: because we did touch on like mortgage rates and you

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Speaker 1: know the state of things at the moment. We said, look,

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Speaker 1: if you've got a question for Brad, send it through

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Speaker 1: on Instagram and we've got a bunch of questions that

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Speaker 1: we're going to ask you now, and we can take

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Speaker 1: our time because it's the podcast.

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Speaker 5: Yeah, this is the good form and you can swear Brad, well,

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Speaker 5: this is always necessary. But also I've got my laptop up.

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Speaker 5: There are two spreadsheets in front of me. You know,

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Speaker 5: I've got I've got a few things. I'm coming with

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Speaker 5: the receipts here.

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Speaker 6: First question comes from Anna and she said, well everything,

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Speaker 6: will everything ever return to pre COVID prices or do

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Speaker 6: I need to accept that this is the new norm?

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Speaker 5: Okay a lot of the time it is probably going

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Speaker 5: to be the new norm. We are I think trying

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Speaker 5: to find like the Goldilock zone because previously, right, you

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Speaker 5: go back sort of pre pandemic. The prices that we

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Speaker 5: had obviously were a lot nicer on almost everything, but

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Speaker 5: we were also like for interest rates almost like two low.

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Speaker 5: And I think abnormally low. We were coming out of

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Speaker 5: a period where like after the GFC, China have been

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Speaker 5: producing so much that like just everything was real cheaper.

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Speaker 5: Now maybe not so much so most prices will be higher.

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Speaker 5: But again have done some homework. There are eight items

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Speaker 5: of about one hundred and twenty or so that Statsunzi.

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Speaker 5: It looks at at the supermarket that are currently cheaper

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Speaker 5: in October twenty twenty four than they were in October

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Speaker 5: twenty nineteen.

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Speaker 4: Down the train only eight.

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Speaker 3: Yeah, but those were the golden days.

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Speaker 1: I remember when we talked to you like a year

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Speaker 1: or so ago, and you said, Yep, things don't get cheaper.

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Speaker 3: Not normally, not normally settle back down how long.

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Speaker 5: I'm really surprised. I mean some of them are because

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Speaker 5: that produce or other bits and pieces, and that sort

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Speaker 5: of will fluctuate. If you get a good growing year

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Speaker 5: then like things, yes, coming.

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Speaker 1: To floods, a lot of asparas, super asparagus season, Oh

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Speaker 1: my god, yess, the stinkiest of wheez, the loveliest of vegetables.

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Speaker 5: Yeah, asparac is not on my cast.

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Speaker 3: They give us your last.

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Speaker 5: I've got eight, so well, do you want to have

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Speaker 5: any more? Guesses.

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Speaker 4: So this the onions is for all not chocolate.

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Speaker 5: Olive oil also very expensive chocolate onions rather is the

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Speaker 5: number one Oh shit onion.

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Speaker 4: Damn that was good.

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Speaker 6: Did we have a bad season and twenty nineteen.

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Speaker 5: It wasn't the best growing I don't think at that time.

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Speaker 5: But at the moment prices are a dollar fifty seven

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Speaker 5: apparently for a kg of onions.

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Speaker 1: Now for a love of floods, remember all the floods

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Speaker 1: and the onions are like floating.

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Speaker 4: Down the river.

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Speaker 3: Yeah, each onion soup down the street.

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Speaker 5: So versatile.

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Speaker 6: You got a chocolate everything anything like an onions. Yeah,

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Speaker 6: everythink savory. So there's a few like that. So avocados,

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Speaker 6: cauliflower and celery also cheaper than in twenty nineteen. Avocados

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Speaker 6: we went too far.

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Speaker 5: To many people.

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Speaker 6: Yeah, people in the Bay of Plenty were like, it's

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Speaker 6: great to greate avocados here we're having a bit of

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Speaker 6: a And then all these dairy farmers were like, well,

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Speaker 6: I something that doesn't involve getting up before in the morning, avocado.

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Speaker 5: I think also Australia had done the same thing, and

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Speaker 5: so all of a sudden it was just like avocado polooza.

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Speaker 5: But also avados.

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Speaker 4: At avocado po.

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Speaker 3: Corn chips, and corean.

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Speaker 5: The others though these are a bit weird. Clover honey

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Speaker 5: apparently is a bit cheaper.

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Speaker 3: It's your cheap honey.

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Speaker 5: Where is that Manuka stuff?

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Speaker 1: Yeah, they put the manuka stuff behind the locked cabinets.

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Speaker 1: So at the supermarket, Yeah, you got.

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Speaker 3: The swipe.

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Speaker 5: Tea bags flavored or herbal Tea bags are apparently a

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Speaker 5: bit cheaper cheaper.

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Speaker 3: That's good. I love herbal tea.

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Speaker 6: So coffee is getting more expensive, Tea is getting cheaper.

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Speaker 1: All the stuff we love, though, stuff we love best gits, chocolate, lillies, charps,

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Speaker 1: all up.

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Speaker 5: Flour is down and the other one. And this one

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Speaker 5: really surprises me. E sports drinks apparently, I don't know.

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Speaker 5: I don't know if that's power.

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Speaker 3: I only have a powerade if I've really overdone it

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Speaker 3: the night before.

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Speaker 5: Yeah, I'm not gonna lie just because I hate myself.

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Speaker 5: I've gone to the end of the list. Olive oil

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Speaker 5: and eggs are the two things that are most expensive.

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Speaker 3: It's insane. That's when you know.

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Speaker 2: If you pop into the groceries to do just a

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Speaker 2: couple of little things, but you get a bottle of

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Speaker 2: olive oil, because you're how did I get to a hundi?

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Speaker 6: But you're not cooking with olive oil? Can with that?

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Speaker 5: Cook with olive oil?

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Speaker 4: Rice bread?

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Speaker 6: Don't rice bread bread rice bread, very high smoke taste incursion.

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Speaker 5: Okay, next time we do the pop can we just

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Speaker 5: go out to Vaughn's place and he can just like

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Speaker 5: cook us show all the time.

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Speaker 2: He doesn't want us to come around because hate too

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Speaker 2: much noise and allas.

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Speaker 4: Next question for bread or do you have more?

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Speaker 6: Oh?

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Speaker 5: No, I was just going to say, I've got a

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Speaker 5: free afternoon.

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Speaker 6: After this stakes on what is the best option for

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Speaker 6: fixing interest rates? How long should you fix for?

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Speaker 5: Yeah, a very good question, a very common one. Again,

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Speaker 5: not personal advice, going to talk to your financial advisor.

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Speaker 2: You personally advised me a lot.

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Speaker 3: I mean, buy the Rider by the reader, you see it.

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Speaker 5: I went back to my messages the other night actually

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Speaker 5: and had to reback through, and I was like, damn,

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Speaker 5: I gave some good advice and look and look what

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Speaker 5: she blames me for now. I know, I don't know

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Speaker 5: if there's a friendship or if this is sort of

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Speaker 5: just like Stockholm syndrome, where you know, my escape go. Yeah,

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Speaker 5: a little bit okay interest rates, So no good question,

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Speaker 5: because I think at the moment when they're coming down,

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Speaker 5: a lot of people are going, well, I'll just take

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Speaker 5: the shortest possible period, right because surely if it goes down,

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Speaker 5: then if I take a short period, then I refix

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Speaker 5: on to that lower rate sooner. Yeah, which is why

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Speaker 5: we've got about twenty percent of people that are floating.

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Speaker 5: That's pretty normal, just because floating is quite expensive. A

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Speaker 5: lot of people I'm bidding, like.

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Speaker 3: I show you mine.

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Speaker 5: Six months though, is quite popular at the moment, sort

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Speaker 5: of between thirty and forty percent of people who are

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Speaker 5: getting a new mortgage opting for that very short six

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Speaker 5: month period. However, you actually sometimes might be better on

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Speaker 5: a one year. It's a little bit longer, of course,

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Speaker 5: but actually your interest rate is a fair bit lower.

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Speaker 5: At the end of October, latest official data we've got

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Speaker 5: from the Good Razoo Bank of New Zealand said that

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Speaker 5: the average six month interest rate special interest rates, if

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Speaker 5: you've got like a good enough to posit on that

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Speaker 5: was six point five percent. If you took a one

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Speaker 5: year you had five point nine to six.

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Speaker 2: Yeah.

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Speaker 3: Shit, that's quite bad game.

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Speaker 5: So so just I think the thing here is just

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Speaker 5: because it's shorter doesn't mean it is definitely the best option.

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Speaker 5: It might still be a good option for you. But

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Speaker 5: have a look at those gaps because sometimes you're getting

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Speaker 5: some good specials around there. What is interesting is a

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Speaker 5: couple of weeks back we saw some of the banks

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Speaker 5: start to lift their longer term interest rates. Now not

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Speaker 5: many people are mixing four to five years, but it

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Speaker 5: does just say if you're starting to lift your three

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Speaker 5: four five year rates, maybe we're getting closer to the

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Speaker 5: bottom of where interest rates might eventually get to. So

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Speaker 5: don't hang the house on it. Definitely continuing to create I.

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Speaker 6: Wish I wish I'd fixed for five years in twenty

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Speaker 6: twenty one three points.

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Speaker 1: I I just googled, like the history of the raids.

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Speaker 1: The Reserve Bank of New Zealand has a good graph

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Speaker 1: going back to two thousand, two thousand and five.

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Speaker 4: Where where do you think the new bottom will be

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Speaker 4: at the moment.

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Speaker 1: We're interesting looking back over you because people have short memories,

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Speaker 1: don't they. They sure post COVID that it's going to

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Speaker 1: go back to two percent.

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Speaker 6: It's never been.

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Speaker 3: It was just a little it was like a little party.

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Speaker 5: And again if it does give back to that point

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Speaker 5: what has gone so wrong in the economy that we

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Speaker 5: meet the house as fucked Yeah, totally so. So I look,

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Speaker 5: I think probably low low fives, high fours is probably

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Speaker 5: the place.

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Speaker 1: So twenty ten to twenty we's at twenty nineteen they

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Speaker 1: were kind of all hovering under the late fours to five.

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Speaker 5: Yeah, sort of rough. I mean it did go sort

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Speaker 5: of up and down at points, and you know, like

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Speaker 5: I remember in twenty nineteen there was like a bit

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Speaker 5: of a rally where interest rates came a bit lower.

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Speaker 5: But yeah, I feel like that's sort of the right

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Speaker 5: Goldilock zone. And this is genuinely the thing we're trying

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Speaker 5: to figure out in the economy. We came in to

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Speaker 5: COVID sort of at normal speed. Okay, hit COVID things,

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Speaker 5: winter shit. We immediately sort of dropped them because economic

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Speaker 5: speed dropped massively as well. Then inflation got too high,

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Speaker 5: so we ramped up interest rates. Now we're trying to

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Speaker 5: drop them back. We're not actually trying to stimulate the

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Speaker 5: economy almost, We're just trying to not stop the economy.

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Speaker 5: So we're like trying to go from really hot inflation

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Speaker 5: to not so hot. We've done that. Now it's like

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Speaker 5: what is normal for interest rates? And like again I

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Speaker 5: don't think we've been here before, so yeah, Goldilock zone.

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Speaker 5: I think low fives, high fours.

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Speaker 2: I also think with the one year thing, sometimes with

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Speaker 2: this budgeting, with everything else being so expensive, it's a

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Speaker 2: bit of the devil. You know, you know what you're

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Speaker 2: paying for a year, you can plan for the year

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Speaker 2: and then if it changes, then you know you've missed

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Speaker 2: out a little bit.

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Speaker 5: But also like, so this is always because everyone's always

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Speaker 5: like I should have done this, should have done that,

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Speaker 5: and okay, to be fair at five five years back

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Speaker 5: in twenty twenty understandable.

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Speaker 4: But kindsights.

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Speaker 5: Woreding, but because everyone was like, you know, actually I

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Speaker 5: was still getting a good deal there. So yes, it's

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Speaker 5: a bit painful now. But I also think people shouldn't

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Speaker 5: beat themselves up too much, like professionals in the market

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Speaker 5: don't get these ones right often, including myself. So like,

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Speaker 5: you know, no one's going to be able to be

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Speaker 5: perfect and pick the market just yet have that confidence

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Speaker 5: that you can sort of see it through longer term

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Speaker 5: is more important.

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Speaker 3: Agreed, beautifully said, very good.

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Speaker 6: Next Nations question is why has petrol gone up so

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Speaker 6: much this month.

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Speaker 5: Oh, probably because of fighting in the Middle East. I mean, look,

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Speaker 5: oil prices and I know I mean this. Oil prices

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Speaker 5: and food prices are two things that people ask the

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Speaker 5: most about alongside their mortgage traits, not looking at.

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Speaker 2: Anyone in particularly because those are the givens though we've

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Speaker 2: got to move around and we've got.

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Speaker 4: To eat well.

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Speaker 5: And also and they change the most. Like the price

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Speaker 5: of I don't know, like guttering or what if you're

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Speaker 5: doing Reno's like doesn't actually shift hugely, whereas your fuel

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Speaker 5: price does change. Cheese just about ours sometimes. The big

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Speaker 5: one at the moment that we're trying to figure out

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Speaker 5: with oil prices and what's sort of moving up and

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Speaker 5: down is one supply. If there's lots of oil being

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Speaker 5: produced globally, then that's generally good and prices will come down.

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Speaker 5: If people are worried that there won't be enough oil supplied,

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Speaker 5: then prices go up. So the minute you start to

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Speaker 5: see lots more fighting in the Middle East where a

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Speaker 5: lot of the oil comes from, everyone goes, well, am

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Speaker 5: I going to be able to get the shipment of

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Speaker 5: oil that I expected to? If I'm worried, then I

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Speaker 5: start to bid the price up because I want to

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Speaker 5: make sure I've got a few other options out there.

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Speaker 5: The other one is around demand. If everyone's driving around

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Speaker 5: like here and across the world, then oil prices are

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Speaker 5: going to go up because there's a lot more demand

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Speaker 5: and not necessarily an immediate amount of oil that comes in.

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Speaker 5: But at the moment, the Chinese economy has been going

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Speaker 5: quite poorly, and so we've seen that. Yes, they might

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Speaker 5: have been a spark in the last couple of weeks,

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Speaker 5: but actually fuel prices at the moment are still quite

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Speaker 5: a bit lower than they were at the start of

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Speaker 5: the year. So they're not cheap, but the cheap er

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Speaker 5: just to touch.

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Speaker 1: Okay, and then what's going to happen. We touched this

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Speaker 1: a little bit the other day with Trump now coming in,

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Speaker 1: and I mean, who knows, they could even be more

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Speaker 1: fighting in the Middle East. Shipments can't even get through

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Speaker 1: let alone exactly.

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Speaker 5: Well, I mean, he did say that he was going

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Speaker 5: to stop all the wars, and like, you know, if

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Speaker 5: that's great, Yeah, yeah, I don't know how, I don't know.

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Speaker 3: I mean, we should have done that ages ago, thought

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Speaker 3: just stop it.

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Speaker 5: But if that, I mean, look, if he manages to

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Speaker 5: do it, then great, although you sort of ask how

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Speaker 5: he might go about it. But yeah, I mean we

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Speaker 5: are I think a little bit to concern, a little

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Speaker 5: bit risk averse there on the new Trump administration, just

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Speaker 5: because if you look at some of his policies, we

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Speaker 5: think that maybe he actually stimulates more inflation than before

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Speaker 5: and that could lift interest rates, or that there's big

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Speaker 5: tariffs on all of our stuff. So the minute we

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Speaker 5: try to send some good old New Zealand stake overseas

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Speaker 5: for the Americans to eat, they're having to pay twenty

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Speaker 5: percent more. Then they don't have as much money to

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Speaker 5: buy more meat again. So yeah, sort of challenges.

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Speaker 6: I'm just looking at the top oil producing oil producing

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Speaker 6: nations Kuwait, Brazil, United Arab Emirates, Iran, Iraq, Canada, and

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Speaker 6: at five, yeah, China, and at four Russia, Saudi Arabia,

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Speaker 6: United States. All I would say, if you're excused upon

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Speaker 6: countries and some turmoil, yes, and like the United States

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Speaker 6: is the biggest by miles. It produces fourteen point eight

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Speaker 6: billion barrels, each barrel equating for one hundred and sixty liters.

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Speaker 4: Well, they've handed it on in the last few years,

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Speaker 4: haven't they.

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Speaker 5: It's been a lot of production coming through, which is

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Speaker 5: sort of that has sort of meant that the market's

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Speaker 5: not as volatile because previously, when it was very concentrated

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Speaker 5: out of the Middle East, everyone was sort of looking

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Speaker 5: there and the minute that anyone popped off or even

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Speaker 5: thought about or talked about, everyone was like running for

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Speaker 5: the hills, Whereas I think with the US producing a

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Speaker 5: bit more, everyone's a bit like, oh, you're a bit

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Speaker 5: more self sufficient. Even if everything else goes bad, maybe

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Speaker 5: you can look after yourself a bit more. The thing

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Speaker 5: for New Zealander' right, like, we don't do any of that.

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Speaker 5: We don't have a lot of oil. Even if the

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Speaker 5: Taranaki oil fields were coming out, it's it's still not

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Speaker 5: our best option. What is quite cool, though, is that

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Speaker 5: we've got a very high level of renewable energy here

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Speaker 5: in New Zealand, right, So that's actually not too bad. Yeah, Okay,

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Speaker 5: there was a bit of a spike in the middle

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Speaker 5: of the year, but there's now water in the lakes.

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Speaker 5: We've got you know, sun coming through over some of

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Speaker 5: this wind coming through, and yeah, that stuff's good. That

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Speaker 5: does that did limit just how exposed we were when

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Speaker 5: the Russian invasion of Ukraine happened, so like, again, can't

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Speaker 5: win them all, but we're in a good enough place

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Speaker 5: sometimes for what we've.

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Speaker 3: Got some good news from bad news bread.

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Speaker 4: Yeah, that's pretty good.

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Speaker 6: Way.

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Speaker 1: I did want to touch on the Trump thing because

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Speaker 1: he is obviously there's a lot of people around him

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Speaker 1: like Elon Musk who love bitcoin, a lot of tech

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Speaker 1: bros that are you know, have his ear now and

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Speaker 1: are going to be in the White House. What does

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Speaker 1: that mean for the future, like, because people are saying

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Speaker 1: bitcoin is going to be.

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Speaker 6: Like that was actually one of our questions. Crypto has

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Speaker 6: taken off over the last month. Is this a good investment?

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Speaker 5: You're right, it has, I mean to be fair, Trump

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Speaker 5: has appointed Elon Musk to a new department. He's called

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Speaker 5: I can't remember the entire but do of Government expend

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Speaker 5: or Government Efficiency Session, but I did see the doors

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Speaker 5: to start with, and I was like, Wow, does Trump

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Speaker 5: realize what he's done here? Or is someone just give

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Speaker 5: him a bit of paper and being like I don't

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Speaker 5: think you'll really read this and then be like, oh

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Speaker 5: my gosh, it actually happened. Yeah, but yeah, I mean, okay,

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Speaker 5: is it a good investment? Well, I mean, sure, if

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Speaker 5: you had it before and now it's gone up, you'll

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Speaker 5: be feeling pretty flash. I do think the challenge here

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Speaker 5: is is why is it just because tech bros are

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Speaker 5: in the White House? Or is it because you fundamentally

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Speaker 5: think that this stuff is like going to make more money.

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Speaker 5: My issue may concern a little bit with those sort

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Speaker 5: of investments as always, that they aren't necessarily driven by

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Speaker 5: something as fundamental, Like if you're investing in, say an airline,

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Speaker 5: and the airline says, here, we think there's more tourism

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Speaker 5: going on, therefore we have to put on more flights.

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Speaker 5: You do the numbers in your head and you go, Okay,

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Speaker 5: more flights probably means more activity, more money coming in.

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Speaker 5: That's probably better for the business I'm investing in. Why

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Speaker 5: has crypto gone up because some bros on Twitter have

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Speaker 5: been talking about it more? I go, is there anything

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Speaker 5: actually fundamental underpinning there? So look, for some people it

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Speaker 5: will be a worthwhile investment. I just think it's worth

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Speaker 5: while important to say it is much higher risk. It'll

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Speaker 5: be one of the high risk plans because of how

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Speaker 5: volatile it can be. You can go up massively in

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Speaker 5: a couple of days or a couple of hours or

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Speaker 5: a couple of seconds. It can go down just as quickly,

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Speaker 5: sort of not driven by much more than someone spouting

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Speaker 5: off on Twitter. So if it's your sort of investment,

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Speaker 5: you're happy with a real high risk profile, then maybe

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Speaker 5: it's the sort of thing you do look into. But

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Speaker 5: I don't know if it would be the thing that

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Speaker 5: I was putting my retirement savings all into right here,

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Speaker 5: no God, that put.

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Speaker 3: The fear of God and meet people distilling, there's something else.

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Speaker 5: So again, think about that risk profile. If you've got

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Speaker 5: like a speed twenty bucks and you want to have

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Speaker 5: a bit of fun, maybe again life savings. Probably I

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Speaker 5: wouldn't put my life savings into any one thing totally.

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Speaker 5: I'd spread my risk around because that's why.

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Speaker 3: How that's going Oh is that still going?

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Speaker 6: Okay? Still?

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Speaker 5: It should still be going up. You shouldn't really.

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Speaker 1: Like, can we save all the managements? Ever since Trump

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Speaker 1: was announced, Trump trades and have gone insane?

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Speaker 3: Why okay?

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Speaker 5: Because the viewers is that Trump will one deregulate a

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Speaker 5: bit more stuff in the US and so businesses won't

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Speaker 5: have to go through as much with tape, maybe a

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Speaker 5: bit more economic activity. Also, Oh yeah, I mean, no

400
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Speaker 5: one wants to do I mean, you guys know, there's

401
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Speaker 5: no who likes to do paperwork.

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Speaker 4: I love dealing with counsels.

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Speaker 6: Hey, I famously absolutely no problems with I love it.

404
00:17:20,000 --> 00:17:21,479
Speaker 3: I love it next to a beach panel.

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Speaker 6: But it's a swamp brand.

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Speaker 5: Swamp.

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Speaker 2: But I'm replace all those screws that we told you

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Speaker 2: to do with marine grades, with marine grades, the stel screws.

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Speaker 6: But there is red tape there for a reason. Right,

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Speaker 6: we needn't look back that far in our history to

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Speaker 6: realize that there's a building code in this country because

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Speaker 6: there was a whole bunch of houses that fucking.

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Speaker 4: Leaked and ruined and they're still leaking.

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Speaker 6: I know, yeah, so totally.

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Speaker 5: I mean, and you look at the US, what are

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Speaker 5: the reasons that the GFC came through. Is everyone said,

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Speaker 5: like banks, no one needs to look at those, They're fine.

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Speaker 5: They just told money. They can't be that important, right,

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Speaker 5: Oh god, I've all gone to ship fail. My god,

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Speaker 5: that failing. And I think the thing there is that

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Speaker 5: like both outcomes are bad. Either you let the banks

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Speaker 5: fail and then people lose all their money, and like,

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Speaker 5: well should have looked at that, but closer, Sorry, we

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Speaker 5: didn't do it for you, as you know, the government,

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Speaker 5: or you go, well, we'll just bail everyone out, in

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Speaker 5: which case you're like, how do I find the billions

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Speaker 5: of dollars they need to do this? So yeah, again,

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Speaker 5: you're right, regulation is there for a purpose. I do think.

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Speaker 5: I mean, jeez, you go over to the US sometimes

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Speaker 5: and like the amount of forms and the number of

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Speaker 5: people at work in the federal government, and that does

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Speaker 5: sometimes seem insane. So I can understand a bit of that.

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Speaker 5: But I think the other big one is Trump wants

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Speaker 5: to bring through some tax cuts, and again tax cuts,

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Speaker 5: less tax being paid by a business or a person

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Speaker 5: means more money that they can spend. So all of

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Speaker 5: that sort of helped stimulate a bit more activity coming forward,

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Speaker 5: but again maybe inflationary. And if that's the case, maybe

439
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Speaker 5: not as many interest rate cuts next year. So look

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Speaker 5: in economics. And I thought about this the other day

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Speaker 5: and I realized that I feel like in this game,

442
00:18:50,240 --> 00:18:52,439
Speaker 5: the reason that I'm possibly never happy is because you

443
00:18:52,480 --> 00:18:54,080
Speaker 5: sort of take with one hand and you give with

444
00:18:54,119 --> 00:18:59,239
Speaker 5: the other, like you get damn everything is bad, but

445
00:18:59,240 --> 00:19:00,680
Speaker 5: it's sort of like, what's the least bad?

446
00:19:01,240 --> 00:19:02,840
Speaker 6: Communism highlight.

447
00:19:05,280 --> 00:19:10,000
Speaker 1: Commune commune commune maybe commune commune to Religious Carble Gardens

448
00:19:10,119 --> 00:19:11,440
Speaker 1: Religious Commune.

449
00:19:11,760 --> 00:19:13,840
Speaker 4: Yeah, we did start a religious This is like.

450
00:19:13,800 --> 00:19:15,280
Speaker 5: The time that you guys were like, we're all going

451
00:19:15,320 --> 00:19:17,440
Speaker 5: to make money here by like going on only fans

452
00:19:17,440 --> 00:19:19,920
Speaker 5: are like starting to sell feed picks and an.

453
00:19:19,880 --> 00:19:21,240
Speaker 3: Idea, We're about to get a pedicule.

454
00:19:21,320 --> 00:19:23,399
Speaker 6: Exactly, it has not been. You make it sound like

455
00:19:23,440 --> 00:19:26,040
Speaker 6: there was an idea of the past. Is an ongoing investigation.

456
00:19:26,280 --> 00:19:28,399
Speaker 2: They're all actively happy to blow up a balloon with

457
00:19:28,440 --> 00:19:30,400
Speaker 2: our butt or something to make some money.

458
00:19:30,119 --> 00:19:31,200
Speaker 4: With the crypto stuff.

459
00:19:31,240 --> 00:19:33,879
Speaker 1: What do that when they talk about like deregulating or

460
00:19:34,200 --> 00:19:36,320
Speaker 1: new regulations, what do they mean by that? Like that

461
00:19:36,520 --> 00:19:39,160
Speaker 1: is it so that it becomes like used more by

462
00:19:39,200 --> 00:19:43,520
Speaker 1: like government departments or it becomes like more of a specialancy.

463
00:19:43,800 --> 00:19:45,479
Speaker 5: Yeah, I mean I think it was just trying to

464
00:19:45,520 --> 00:19:47,080
Speaker 5: broaden it out of it. Like I remember at one

465
00:19:47,119 --> 00:19:49,920
Speaker 5: point when Elon Musk came out this was a couple

466
00:19:49,920 --> 00:19:51,680
Speaker 5: of years back, and was like Tesla will now allow

467
00:19:51,720 --> 00:19:54,119
Speaker 5: you to pay for a Tesla car with bitpoint. Everyone

468
00:19:54,200 --> 00:19:56,879
Speaker 5: was like, WHOA, I couldn't do that before. No, no

469
00:19:56,960 --> 00:19:59,520
Speaker 5: big car owner was taking my money in bitcoin. It

470
00:19:59,520 --> 00:20:02,919
Speaker 5: had to pay cash, so that accessibility and usability of

471
00:20:03,240 --> 00:20:05,760
Speaker 5: platforms like bitcoin and other sort of cryptos, and that

472
00:20:05,760 --> 00:20:08,880
Speaker 5: that does help. I think also though there has been

473
00:20:08,960 --> 00:20:11,160
Speaker 5: quite a view and a lot of developed countries where

474
00:20:11,160 --> 00:20:14,280
Speaker 5: everyone is like crypto is too risky. You they worry that,

475
00:20:14,480 --> 00:20:16,479
Speaker 5: you know, the government worries that people get too involved

476
00:20:16,480 --> 00:20:18,880
Speaker 5: too quickly without understanding the risks, and so they're trying

477
00:20:18,920 --> 00:20:22,480
Speaker 5: to put a few more sort of stop goes in

478
00:20:22,560 --> 00:20:24,399
Speaker 5: place that people do think about it and sort of

479
00:20:24,480 --> 00:20:27,199
Speaker 5: go through their mindset. If that's taken away, if it's

480
00:20:27,240 --> 00:20:29,600
Speaker 5: a bit more easier and free to just jump straight

481
00:20:29,640 --> 00:20:31,320
Speaker 5: in and sort of run with it, that would of

482
00:20:31,359 --> 00:20:34,960
Speaker 5: course help crypto activity. But yeah, it's where you put

483
00:20:34,960 --> 00:20:36,600
Speaker 5: the guide rails. And I think like you think of

484
00:20:36,600 --> 00:20:38,119
Speaker 5: when you go to bowling, right, like if you have

485
00:20:38,160 --> 00:20:40,000
Speaker 5: the guardrails that mean that you can't go on the

486
00:20:40,000 --> 00:20:44,119
Speaker 5: gutter at all, and you're all getting strong, lovely, but like, honestly,

487
00:20:44,119 --> 00:20:44,760
Speaker 5: it's not that fun.

488
00:20:47,320 --> 00:20:48,960
Speaker 4: They put the ramp away and you don't need that

489
00:20:49,240 --> 00:20:52,880
Speaker 4: the heavy ball really.

490
00:20:52,680 --> 00:20:53,160
Speaker 6: Get the roll.

491
00:20:55,320 --> 00:20:57,000
Speaker 5: You're the person that also, like every now and then

492
00:20:57,040 --> 00:20:59,760
Speaker 5: accidently hits the screen above with the scores because.

493
00:21:01,600 --> 00:21:05,639
Speaker 2: Yeah, that's how be buying monkeys, you know, the pictures

494
00:21:05,640 --> 00:21:06,320
Speaker 2: of the monkeys.

495
00:21:07,119 --> 00:21:09,439
Speaker 5: I was like, monkey, I think that's illegal in New Zealand.

496
00:21:09,520 --> 00:21:11,840
Speaker 3: I'm just to tell me because I'm drawing on the desk.

497
00:21:13,760 --> 00:21:14,800
Speaker 5: Because he didn't like the monkeys.

498
00:21:15,040 --> 00:21:19,120
Speaker 3: Were they called n f t's non Funny Tokens?

499
00:21:19,200 --> 00:21:19,440
Speaker 5: Yeah?

500
00:21:20,000 --> 00:21:22,679
Speaker 3: I don't know, because you just screenshoted them and then

501
00:21:22,720 --> 00:21:23,720
Speaker 3: I owned a two for free.

502
00:21:23,760 --> 00:21:24,280
Speaker 5: Hah.

503
00:21:25,240 --> 00:21:27,920
Speaker 6: It was weird. Any more questions worn, No, you're kind

504
00:21:27,920 --> 00:21:29,719
Speaker 6: of covered them. There was the crypto one and the

505
00:21:29,720 --> 00:21:31,960
Speaker 6: interest rates. Will anything that happens in the US schools

506
00:21:32,000 --> 00:21:34,600
Speaker 6: higher interest rates in New Zealands, We're kind of covered.

507
00:21:35,119 --> 00:21:37,280
Speaker 5: Can I just say, because again I get this awful

508
00:21:37,320 --> 00:21:39,640
Speaker 5: miss you know name all the time with the bad

509
00:21:39,680 --> 00:21:41,920
Speaker 5: news breader, which I must say is said very endearingly

510
00:21:42,080 --> 00:21:45,760
Speaker 5: by yeah, yeah, better things to come next year, those

511
00:21:46,240 --> 00:21:48,040
Speaker 5: kids coming down. Yep. We've started to see just a

512
00:21:48,160 --> 00:21:50,240
Speaker 5: very small change, even in the last two months and

513
00:21:50,280 --> 00:21:53,000
Speaker 5: spending of course Black Friday sales you know, going on

514
00:21:53,040 --> 00:21:54,919
Speaker 5: at the moment or in the lead up to Christmas.

515
00:21:55,119 --> 00:21:57,920
Speaker 5: I think it's still tough out there. It's still challenging.

516
00:21:57,960 --> 00:21:59,640
Speaker 5: I totally get that, but I do feel that we're

517
00:21:59,640 --> 00:22:02,639
Speaker 5: starting see those greener shoots showing through. So twenty twenty

518
00:22:02,680 --> 00:22:04,040
Speaker 5: five bitter things to come.

519
00:22:04,119 --> 00:22:07,480
Speaker 2: So at a scale of one to bed yeap tim

520
00:22:07,600 --> 00:22:10,359
Speaker 2: being bad, one being oh my god, this is so.

521
00:22:10,240 --> 00:22:12,680
Speaker 4: Good until we get to Trump's World War three? Yeah,

522
00:22:13,000 --> 00:22:14,080
Speaker 4: how are we?

523
00:22:14,280 --> 00:22:16,439
Speaker 5: If you could give it a number, I feel like

524
00:22:16,560 --> 00:22:18,840
Speaker 5: we're sort of you've bean right here, right now here,

525
00:22:19,040 --> 00:22:21,880
Speaker 5: right now, sort of more a five or six. It's

526
00:22:21,880 --> 00:22:22,520
Speaker 5: still it's.

527
00:22:22,480 --> 00:22:25,200
Speaker 6: It's okay, I'm okay with that's just the economy. That's

528
00:22:25,280 --> 00:22:28,160
Speaker 6: just just the economy. You're not speaking for a range

529
00:22:28,200 --> 00:22:28,879
Speaker 6: of other issues.

530
00:22:28,920 --> 00:22:33,520
Speaker 1: No, I know, of course there's a lot of what

531
00:22:33,640 --> 00:22:35,120
Speaker 1: number would you give a Voe's mortgage?

532
00:22:36,560 --> 00:22:37,720
Speaker 3: Let me let me just bring up.

533
00:22:39,760 --> 00:22:42,239
Speaker 5: Five nine one year rate.

534
00:22:42,560 --> 00:22:44,840
Speaker 6: I told my parents my actual amount of money I

535
00:22:44,840 --> 00:22:47,520
Speaker 6: owe the bank of the day, and they were so worried.

536
00:22:47,560 --> 00:22:48,960
Speaker 5: Can you write it down on a bit of paper

537
00:22:48,960 --> 00:22:50,240
Speaker 5: for me? Are you comfortable doing that?

538
00:22:50,760 --> 00:22:53,280
Speaker 6: I'll just simper early and I'll tell you how much

539
00:22:53,280 --> 00:22:54,480
Speaker 6: money I owe the bank.

540
00:22:58,680 --> 00:22:59,720
Speaker 3: The micview the mic.

541
00:23:03,040 --> 00:23:06,159
Speaker 5: Yours to be. You've both got nice properties. You have

542
00:23:06,240 --> 00:23:06,960
Speaker 5: got nice properties.

543
00:23:06,960 --> 00:23:08,840
Speaker 3: Don't try to make a bit of your face. Just

544
00:23:09,040 --> 00:23:10,720
Speaker 3: told us exactly.

545
00:23:12,040 --> 00:23:16,840
Speaker 2: What you're going to do, what you're going to pay

546
00:23:16,840 --> 00:23:18,840
Speaker 2: it back or dime that is going to die.

547
00:23:18,920 --> 00:23:20,160
Speaker 6: It's gonna be somebody else's cleaner.

548
00:23:21,680 --> 00:23:22,600
Speaker 3: His grand always a pleasure.

549
00:23:22,680 --> 00:23:23,800
Speaker 5: I'm a little bit loss for words.

550
00:23:23,880 --> 00:23:25,320
Speaker 3: Don't worry about it. It's not your You don't have

551
00:23:25,359 --> 00:23:26,000
Speaker 3: to worry about it.

552
00:23:26,200 --> 00:23:28,280
Speaker 5: You don't have to. I'm well aware. This is why

553
00:23:28,320 --> 00:23:31,280
Speaker 5: I don't have a mortgage. I'm quite comfortable my different

554
00:23:31,280 --> 00:23:32,440
Speaker 5: accouncil different.

555
00:23:33,440 --> 00:23:37,000
Speaker 6: You fletch mortgage. I have a mortgage, but he also

556
00:23:37,080 --> 00:23:38,720
Speaker 6: owns where he lives. You fletch