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Speaker 1: New Zealand's voice of reason is Mike the mic Hosking

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Speaker 1: Breakfast with the range Rover Villa designed to intrigue and

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Speaker 1: use togs ed b wlling you welcome.

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Speaker 2: Today, Adrian and Orr in the sense of the high

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Speaker 2: drama and carnage of the past couple of years might

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Speaker 2: have been coming to an end. Winston Peters on the

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Speaker 2: cooks and the need for this reset. We're now a

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Speaker 2: soft target apparently for scams. Half a million of us

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Speaker 2: got sucked in last year. So Max around the five

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Speaker 2: hundred police promise, Rod Little and Britain. Joe McKenna's on

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Speaker 2: Pope Watch in Italy poscre we go for Thursday, seven

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Speaker 2: past six. I tell you what's not a good time

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Speaker 2: to be a climate Converter's regality strikes at an increasing pace.

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Speaker 2: According to the latest Fed Farmer's survey. We were telling

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Speaker 2: you this this time yesterday. The farmers are more upbeat

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Speaker 2: than they have been in at least a decade, due

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Speaker 2: no small part to the fact that the government has

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Speaker 2: reset several targets around climate. It's less onerous and therefore

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Speaker 2: easier to do business. And now news of several New

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Speaker 2: Zealand companies who have withdrawn from the Science Based Target Initiative.

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Speaker 2: Now that's our global nonprofit. It verifies what you're up to,

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Speaker 2: what you promised, how you're doing all that sort of stuff. Anyway,

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Speaker 2: the cold hard truth is it's easy to join and

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Speaker 2: you look good doing it, but it gets harder and

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Speaker 2: harder to meet the targets until the various businesses go

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Speaker 2: and now have you know what, don't worry about it.

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Speaker 2: Before Trump arrived and put the nail in the climate coffin,

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Speaker 2: generally globally, it was getting increasingly obvious that the targets

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Speaker 2: out of Paris are not, have not and will not

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Speaker 2: be met great intention, no real follow up or the

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Speaker 2: follow up that did eventuate prove the targets were hopelessly unrealistic.

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Speaker 2: We under the last government, of course, were in an

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Speaker 2: obsessive rabbit hole burrowing a way to no great advantage.

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Speaker 2: New government, more realistic view, and a number of local

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Speaker 2: companies now pulling out of the SBTi in New Zealand

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Speaker 2: you might remember a while back, straight up and down,

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Speaker 2: very honest about it, they said, look it's a good idea,

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Speaker 2: we can't do it, it's not real. We can now

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Speaker 2: add que Property Group silver fern farms, Auckland Airport, and

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Speaker 2: I assume a growing number of others. I think we're

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Speaker 2: at a turning point, rightly or wrongly, sort of like evs,

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Speaker 2: you know, where the pea HEV has become the answer

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Speaker 2: as opposed to the BEV. We got carried away with Zellos.

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Speaker 2: We thought we could do a lot more without the

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Speaker 2: economic damage. We were wrong. Yes, the climate's important. Yes

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Speaker 2: we would like to make some sort of effort to help,

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Speaker 2: but not at all costs, not at the expense of

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Speaker 2: a good life. Too much evidence is now in that

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Speaker 2: the evangelism is over and reality has arrived.

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Speaker 3: News of the world in ninety seconds.

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Speaker 2: Poor old Zelenski's week is turning to complete a nutter shite.

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Speaker 4: We haven't had elections in Ukraine. Well, we have martial law,

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Speaker 4: essentially martial law in Ukraine, where the leader in Ukraine,

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Speaker 4: I mean, I hate to say it, but he's down

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Speaker 4: at four percent approval rating, and where a country has

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Speaker 4: been blown to smither in of.

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Speaker 2: Course Olenski is having none of it, but the ground

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Speaker 2: is being swept out from under him.

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Speaker 5: Unfortunately, President Trump, with who we have great respect as

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Speaker 5: a leader, and the American people who supports us, but

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Speaker 5: unfortunately he lives in this disinformation space.

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Speaker 2: Meantime, Labrova from Saudi into the Russian Parliament full of

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Speaker 2: beans and upbeat assessments. So the tasks that were set

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Speaker 2: by the president's large scale tasks, and we will continue

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Speaker 2: our endeavors to implement those tasks. Trump's main Kellogg's right

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Speaker 2: by Tran and cib karas.

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Speaker 6: Some wonderful talks with President Selesky, his staff and military commanders.

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Speaker 7: Quite because he won't We're gonna listen who we are aware.

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Speaker 7: We understand the need for security guaranteed.

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Speaker 2: Then for the old sports files, the sinner band, if

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Speaker 2: you can call it, that is still being heavily contested.

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Speaker 2: Wada coming to their own defense.

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Speaker 8: We're not there to be popular or to make friends.

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Speaker 4: We're there to apply the rules fairly and without fear

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Speaker 4: or favor and we feel that we've done that.

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Speaker 2: Okay, as soon as lawyer claiming they were hard done by,

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Speaker 2: it is very unfair.

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Speaker 9: I mean, he has been through the process from the

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Speaker 9: very beginning, by the book, and there's no favoritism. It

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Speaker 9: just so happens that these circumstances have been very unusual.

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Speaker 9: He feels that he's been treated quite harshly.

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Speaker 2: Okay, finally an update from the so called worst mirror

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Speaker 2: in America into a broad look about this. This is

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Speaker 2: Dalton Lord Tiffany Henyard. A couple of weeks ago, her

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Speaker 2: and a boyfriend got into a fight out to being

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Speaker 2: criticized at a town hall meeting. The video was awesome viewing.

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Speaker 2: Next step the lawsuits. A couple of men are filed

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Speaker 2: against the mayor, her partners, and others for assaults and

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Speaker 2: retaliation for exercising free speech, including that Henyard went hit

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Speaker 2: two of them with her microphone. Anyway, we'll keep your posted.

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Speaker 2: Use the world in market inflation or is it stagflation?

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Speaker 2: So not a lot of growth in Britain and overnight

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Speaker 2: the read for the month of January three percent, above

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Speaker 2: analyst expectation of two point eight, so we'll see where

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Speaker 2: that goes. Eleven past six.

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Speaker 1: The mic Asking Breakfast Full Show podcast on iHeartRadio, vowed

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Speaker 1: by News Talks Eppy.

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Speaker 2: Another box tick for Trump this morning. The Commerce Secretary Lutnik.

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Speaker 2: He's the guy if you've been watching the executive signings.

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Speaker 2: He's the sort of the guy who sits ominously over

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Speaker 2: Trump's left hand shoulder and then reaffirms everything Trump's does

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Speaker 2: is brilliant. Anyway, it's been confirmed as the COMMAS secretary

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Speaker 2: the Comments Department employees fifty thousand people, or at least

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Speaker 2: it did until Lelon Arright fourteen minutes past second break

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Speaker 2: it who from j am I Well Andrew Keller, good morning,

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Speaker 2: Good morning, Mike, So fifty it was maybe another couple

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Speaker 2: of twenty clients to come. What did you see?

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Speaker 7: Yeah, we get in there, aren't we? Official cash right now?

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Speaker 10: At three point seventy five, which unfolded as expected.

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Speaker 2: Look, I think.

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Speaker 10: The moment, Mike, I think the I think the way

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Speaker 10: ahead now is a little clearer. We can, assuming nothing

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Speaker 10: untowards happened, expect to see a couple of further cuts,

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Speaker 10: as you said, twenty five basis points in April and May,

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Speaker 10: and that would take the OCO down to three and

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Speaker 10: a quarter. What the RBNZ has done, And Mike, this

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Speaker 10: is the point I make.

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Speaker 7: This is not the first time in recent memory is.

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Speaker 10: They've moved the forward track to be very similar to

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Speaker 10: where financial markets were already pricing the ocr so effectively

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Speaker 10: the market are already gone there. Key comments and takeaways

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Speaker 10: for listeners out there the OCR track has been front loaded,

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Speaker 10: So the RBNZ said, if economic conditions continue to involve

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Speaker 10: as projected, the committee has the scope to lower the OCR.

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Speaker 7: Further through twenty twenty five.

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Speaker 10: So go back to the November MPs, the OCR was

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Speaker 10: on a much more gradual flight path that lower through

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Speaker 10: twenty twenty five, twenty twenty six into twenty twenty seven.

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Speaker 10: Now that projected low point and the OCR is in

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Speaker 10: early twenty twenty six, so it's all front loaded exactly

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Speaker 10: where the market was already. Domestic activity is subdued but

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Speaker 10: is expected to recover during twenty twenty five, so that's

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Speaker 10: a positive global activity. Global growth likely to be weakened

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Speaker 10: by geopolitics that includes the impact of the trade barrier.

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Speaker 10: The thing is, Mike, I think that came through the

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Speaker 10: whole the press conference and through the tone of the

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Speaker 10: NPS is they are far more confident now about the

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Speaker 10: fact that there is spare capacity in the economy, so

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Speaker 10: much so that they're actually projecting CPI inflation to hit

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Speaker 10: two point seven percent this year. It's going to go

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Speaker 10: back up well away from the midpoint, the two percent midpoint,

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Speaker 10: But they're so confident about the spec capacity in the

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Speaker 10: market that they're going to continue to lower the OCR

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Speaker 10: so that CPI then falls back in early twenty twenty six,

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Speaker 10: and right through the statement, that language is very confident,

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Speaker 10: So I'm describing it as a confidently dubbish cut.

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Speaker 7: There's a lot of focus.

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Speaker 10: In the statement, Mike, on those GDP growth revisions, the

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Speaker 10: fact that it was so much higher in twenty twenty three,

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Speaker 10: twenty twenty four, and have that great big slump in

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Speaker 10: June and September, a.

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Speaker 7: Couple of other factors.

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Speaker 10: To know you get this lower OCR, You've just got

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Speaker 10: to remember this isn't twenty twenty one. We're not going

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Speaker 10: to get the same boost we got from lower interest rates.

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Speaker 7: That we did back then.

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Speaker 10: And actually the OCR just pulls down those short term

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Speaker 10: interest rates, it doesn't necessarily pull down the longer term

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Speaker 10: interest rates. The special topics there always a good read.

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Speaker 10: There's one on tariff there that was worth a look at.

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Speaker 10: Market response, Mike, relatively benign wholesale rates barely moved share

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Speaker 10: market a little lower. Currency moved around a little bit,

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Speaker 10: but settled pretty much back to where it started.

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Speaker 2: Right the Real Estate Institute and do not use this

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Speaker 2: to leverage our bet for the end of the year.

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Speaker 10: I have nothing to say Mike on that for the moment,

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Speaker 10: but having a second, let's just run through it.

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Speaker 7: Shall we.

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Speaker 10: On the housing make so this is later data from

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Speaker 10: later started from Ari and Z mortgage holders, since they're

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Speaker 10: patiently waiting for the opportunity to refix their mortgages, get

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Speaker 10: a little relief in their household budgets. What happens in

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Speaker 10: the housing market is important, Mike, because if your house

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Speaker 10: value goes out, we get this wealth effect, right. People

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Speaker 10: feel a little richer, increases the propensity and confidence to spend.

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Speaker 10: You see that in activity in retail sales. Still no

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Speaker 10: big news on house prices though. House Whiston nes released

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Speaker 10: yesterday on a raw basis that fell in January seasonal

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Speaker 10: adjusted a very mnemic little lift year on year. You

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Speaker 10: are still looking at a one point four percent fall

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Speaker 10: in house prices across the country. And the thing is

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Speaker 10: sales dropped slightly on a seasonally adjusted basis as well.

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Speaker 10: Sales started for descem but were revised up. I suppose

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Speaker 10: that's good, But overall, make the inventory. The amount of

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Speaker 10: property that's for sale has got larger. It's now the

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Speaker 10: highest we have seen in ten years and that's going to.

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Speaker 7: Take a while to work through.

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Speaker 10: Aukle market to me looks soggy sales falling year and

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Speaker 10: a year move in the index is lower than the

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Speaker 10: New Zealand move, but just on the housing related I

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Speaker 10: know we haven't got a lot of time.

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Speaker 7: But Fletcher Building.

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Speaker 10: Share price yesterday, yeah, they're looking a little bit more positive.

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Speaker 7: The New Zealand story is part of that.

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Speaker 10: Their share price after their first half announced up five

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Speaker 10: percent yesterday.

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Speaker 2: And lay some numbers on me.

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Speaker 10: Oh well, the dal Jones is down one hundred and

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Speaker 10: twenty points, about a quarter of percent. The S and

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Speaker 10: P five hundred was is up five points as we

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Speaker 10: look at it sixty one three four. The Nasdaq is

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Speaker 10: up small twenty thousand and forty one. European markets will

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Speaker 10: weaker overnight. Mike eight seven one two down points sixty

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Speaker 10: two percent on the foot see one hundred. The Nike

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Speaker 10: was down a quarter percent three nine one sixty four.

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Speaker 10: Shanghai Composite gained point eighty one three three five one.

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Speaker 10: The Aussies yesterday fell three quarters percent, closing at eight

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Speaker 10: four one nine, and the Insects fifty was down point

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Speaker 10: one four percent closing at thirteen thousand and thirty.

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Speaker 7: Three Kiwi dollar still sort of lurk.

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Speaker 10: King around the fifty seven cent mark point five six

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Speaker 10: ninety nine against the ossie point eight nine eight nine point.

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Speaker 7: Five four seven seven euro point four to five three three.

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Speaker 10: Pounds eighty six point four to four Japanese yen gold

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Speaker 10: training at two thousand, nine hundred and twenty eight dollars

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Speaker 10: and frank crude seventy six dollars and thirty nine cents

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Speaker 10: See tomorrow.

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Speaker 2: Andrew Kelleher Jomiwealth dot co dot NZ tasking proving and

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Speaker 2: will go to the New Zealand banks and the fifty

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Speaker 2: basis points and working through all of that sort of stuff,

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Speaker 2: but proving that banking is highly profitable AGESBC, who also

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Speaker 2: played the ball here, but the Europe's largest lender annual

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Speaker 2: pre tax profit rows six and a half percent. For

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Speaker 2: the full year revenue was sixty six billion dollars, their

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Speaker 2: pre tax profit thirty two point three one billion dollars.

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Speaker 2: So there's money in banking. I'm not sure if you

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Speaker 2: realize that six twenty your used talksb The.

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Speaker 1: Vike Hosking Breakfast Full Show podcast on iHeartRadio powered by

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Speaker 1: News talks.

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Speaker 2: B This is all very heavily coordinated, obviously, but Zelenski

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Speaker 2: is an now in real, real trouble because what he's

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Speaker 2: relying on, unfortunately, is Trump either doing something different to

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Speaker 2: what he is doing or Europe getting their act together,

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Speaker 2: and I think the chances of that happening is zero.

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Speaker 2: This is what Trump just said on truth Social think

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Speaker 2: of it. A modestly successful comedian talk the United States

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Speaker 2: of America into spending three hundred and fifty billion dollars

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Speaker 2: to go into a war they couldn't win. The United

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Speaker 2: States has spent two hundred billion dollars more than Europe,

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Speaker 2: and Europe's money is guaranteed while the United States will

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Speaker 2: get nothing. Why didn't Sleepy Joe demand equalization in that

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Speaker 2: this war is far more important to Europe than it

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Speaker 2: is to us. Now, that's not a bad point. He

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Speaker 2: makes a reasonable point there. On top of this, Zelenski

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Speaker 2: admits that half the money we sent to him is missing.

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Speaker 2: He refuses to have elections, is very low in Ukrainian polls.

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Speaker 2: That's not true, and the only thing he was good

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Speaker 2: at was playing Biden like a fiddle a dictator. Without elections,

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Speaker 2: Zolensky better move fast, or he's not going to have

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Speaker 2: a country left. In the meantime, we are successfully negotiating

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Speaker 2: an end to the war with Russia. So that's Trump

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Speaker 2: moments ago. Just go back to the election thing is

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Speaker 2: moderately interesting the extent that it's a five year term

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Speaker 2: and it was due late last year. They didn't hold

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Speaker 2: it for a fairly obvious reasons. They're in the middle

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Speaker 2: of a war. But if you go back to twenty nineteen,

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Speaker 2: there were a huge number of contenders in the presidential race.

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Speaker 2: There were thirty something from memory contenders, and they run

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Speaker 2: that old rule whereby if you get fifty percent in

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Speaker 2: the first round, you win if you don't, and of

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Speaker 2: course nobody did, and so the two top contenders went

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Speaker 2: for the runoff, which was Poroshenko and Zelenski, and Zelensky

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Speaker 2: not only won, but he won by a mile. He

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Speaker 2: got seventy something percent from Memory of seventy two to

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Speaker 2: seventy three percent, and that was a record. And I

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Speaker 2: have no reason to believe that that level of popularities changed.

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Speaker 2: Trump's four percent is from a Zelensky opponent, and he

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Speaker 2: got it on telegram. So that's the sort of idiocy

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Speaker 2: you're dealing with six twenty five.

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Speaker 1: Trending now with Chemist ware House Great savings every day.

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Speaker 2: If you haven't watched the new TGL Golf League, give

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Speaker 2: it a go and let me know what you think.

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Speaker 2: I can't work out why you would watch it and

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Speaker 2: if it's ever going to be successful anyway. Overnight, Chifflet

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Speaker 2: and Fowler, who played for the New York Club. They

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Speaker 2: were up against Tiger Woods and his Jupiter Lynks team.

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Speaker 2: Easy one for New York, but Woods handed them a

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Speaker 2: whole one of the holes he just handed because it

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Speaker 2: was the thirteenth. Tiger had one hundred and ninety nine

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Speaker 2: left of the green. But then he brought out a widge.

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Speaker 3: What you do, he's got a wedge? Night he said,

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Speaker 3: ninety nine yards. I said ninety night, lawyer, No, I

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Speaker 3: heard her say ninety nine.

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Speaker 2: Woods obviously was embarrassed.

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Speaker 8: I learned that.

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Speaker 7: I had ninety nine yards. I hit one hundred yard

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Speaker 7: web shot.

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Speaker 3: Oh he didn't have that was double.

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Speaker 10: That was the most embarrassing thing that has one of

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Speaker 10: the things ever happened.

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Speaker 9: Huld believe that just happened.

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Speaker 2: Who's the person?

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Speaker 7: Go have his teammates.

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Speaker 2: Think if you haven't seen this, and that's why I

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Speaker 2: don't think it'll work. They when you say one ninety nine,

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Speaker 2: what he does is smack the ball into a screen.

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Speaker 2: It's like playing home golf. You know, you got those

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Speaker 2: machines at home. You smack it into a wall and

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Speaker 2: then the green is real. So once you've smacked it

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Speaker 2: into a wall several times, you then get to play

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Speaker 2: on a real green. The whole thing's weird, and it's

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Speaker 2: all indoors in a purpose built stadium, and the only

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Speaker 2: seeming fascination is they're all miked up, so they're chatting

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Speaker 2: to each other and as a bit of camaraderie, and I.

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Speaker 3: Just take it as seriously as you can.

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Speaker 11: Hear.

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Speaker 6: Yeah, I can't help thinking if it was a real hole,

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Speaker 6: he would have realized that he was playing a cup

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Speaker 6: of stirring at the wall.

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Speaker 2: He would have gone. That seems a lot longer than

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Speaker 2: ninety nine to me. By the way, we're a bit angsty,

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Speaker 2: I'm not but about the police five hundred promise, five

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Speaker 2: hundred new coppers. We've still got nine months to go.

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Speaker 2: The unions come out and go I don't think we're

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Speaker 2: going to get there. So we'll have a discussion about

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Speaker 2: that and then move on, adrian Or with this after

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Speaker 2: seven thirty this morning. Meantime the news is next your

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Speaker 2: news talk said.

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Speaker 7: The.

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Speaker 1: Mike Cars game in State Folk engaging and idle, the

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Speaker 1: Mic Hosking breakfast with Bailey's real estate finding the buyers

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Speaker 1: others can't use togs dead.

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Speaker 2: B It was interesting. There are many things interesting yesterday

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Speaker 2: that came out of Adrianaor's press conference, one of which

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Speaker 2: is this what will be for many people. I suspect

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Speaker 2: a slightly complex scenario. So when the Reserve Bank goes

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Speaker 2: fifty points, you expect your mortgage to go down fifty points,

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Speaker 2: not the case. So on short term money, which is

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Speaker 2: floating in one year stuff like that, it will be affected.

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Speaker 2: I note that, for example, A and Z floating rate

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Speaker 2: at six 't eight nine Westpac one year down to

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Speaker 2: five four nine. See that's only a drop of five points,

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Speaker 2: not fifty four year rate at five nine nine drop

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Speaker 2: of ten points. So you ask, well, hold on, why

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Speaker 2: aren't they passing on the full fifty And the reason

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Speaker 2: they're not is because the money they get for longer

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Speaker 2: term doesn't come from the Reserve Bank's cash rate. It

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Speaker 2: sets out in the world key we bank, they're passing

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Speaker 2: on the full ocr for floating at six seven five

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Speaker 2: asb full amount on the floating six ' eight nine

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Speaker 2: b and z floating. If you're at the wrong end

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Speaker 2: of it, for total what they call total money seven

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Speaker 2: oh four, you're still paying seven percent. Seems ruinous to

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Speaker 2: me anyway. There's some criticism over how the bank is

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Speaker 2: handling all of this in terms of not the retail

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Speaker 2: interest rate, but whether the two to come, the twenty

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Speaker 2: five and twenty five is holding up people because they're going, well,

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Speaker 2: why we're to do anything now, because I've gotten two

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Speaker 2: lots of twenty five still to come. We're seeing some

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Speaker 2: inflation that Andrew was alluding to some inflation here. You're

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Speaker 2: seeing inflation in Britain, you're seeing inflation in America. So

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Speaker 2: the cuts come in suddenly you've still got inflation without

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Speaker 2: see America's got growth, Britain's got a tiny bit of growth.

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Speaker 2: We got no growth, so we're getting inflation with no growth.

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Speaker 2: So we got We've got some interesting things to deal

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Speaker 2: with there, which is good because Adriana was with us

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Speaker 2: in an hour, is going under Italy. The Pope's not well,

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Speaker 2: and that's where you get to the war so there's been

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Speaker 2: going on there as well. Jeremy dinner with shortly meantime

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Speaker 2: back here, a little bit of ankst around the police

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Speaker 2: targets the promise five hundred new cops. We've still got

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Speaker 2: nine months to go, So why we're exercised, I don't know,

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Speaker 2: but the claim is from the union and that we've

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Speaker 2: got fewer police officers now then when the scheme was

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Speaker 2: actually announced. The Police Commissioner has already indicated that June

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Speaker 2: twenty six looks like a more achievable time frame for him.

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Speaker 2: Associate Police Minister Casey Costello was with us very good

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Speaker 2: morning to you.

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Speaker 12: Good morning, Mike.

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Speaker 2: Is the claim true we have fewer police this morning

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Speaker 2: than we did when the scheme was announced.

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Speaker 12: Yeah, we have our current numbers where it's we're about

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Speaker 12: one hundred and fifty less than we were before. We

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Speaker 12: had three hundreds of recruits in college at the moment,

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Speaker 12: and we're on track to put about six hundred and

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Speaker 12: fifty recruits through the first half of this year. So yeah,

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Speaker 12: we're really positive. There had to be a big shift.

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Speaker 12: There was a real drive that when we came in

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Speaker 12: there was no one went through and the seing Brown January.

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Speaker 12: When we first came into government, we had no recruitment pipeline.

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Speaker 12: We now have a fantastic pipeline. Over double the number

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Speaker 12: of applications last year than we had the previous year.

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Speaker 12: So yeah, we're really positive about where we're got.

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Speaker 2: So the six fifty you just gave us, that's the

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Speaker 2: five hundred, isn't it's the one to fifty last plus

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Speaker 2: five So you will get there, you say, yeah.

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Speaker 12: We've got the we've got to allow for the attrition rate,

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Speaker 12: so we're not taking the pressure off where we're aiming

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Speaker 12: to get to one hundred recruits in each wing and

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Speaker 12: the next couple of the next couple of months, so

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Speaker 12: that that will increase the flow. The pressure's really gone on.

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Speaker 12: But the upside is the quality of the approach we're getting.

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Speaker 12: The level of interest is outstanding and really positive initiatives

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Speaker 12: of police are dying. It is a really great person

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Speaker 12: campaign that will be starting announced places today, which I'm

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Speaker 12: really pleased about.

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Speaker 2: So sorry, we've got a recruitment program announcing today.

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Speaker 12: An advertising campaign, yeah, it's the Commissioner will be launching

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Speaker 12: the video.

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Speaker 13: It's really it's great, it's.

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Speaker 12: You know, heartwarming stuff and back to the old old

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Speaker 12: days of what policing was all about. The team that

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Speaker 12: you're joining, the reason that we do frontline policing stuff.

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Speaker 13: So really excited about it, all.

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Speaker 2: That fun stuff like running up gangs and.

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Speaker 12: Ye deal in the frontline community stuff that really, you

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Speaker 12: know that that's why I joined. That's you know, that

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Speaker 12: was what policing was about.

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Speaker 13: You being part of the community.

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Speaker 12: That part of services stick and that's the quality recruits

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Speaker 12: every wing. I go out to see the graduation. It's

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Speaker 12: just heartwarming that the quality of people we're getting through.

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Speaker 2: It's the Police Commissioner Wright that it's more like June

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Speaker 2: twenty twenty six. So from the politics of it, you're

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Speaker 2: probably going to fail or can you sit here this

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Speaker 2: morning confidently say you will meet your target.

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Speaker 12: We're really confident now that we've got the pipeline going

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Speaker 12: through and the positive stuff. We also have last figures,

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Speaker 12: I was going to over one hundreds former police officers

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Speaker 12: that are plying to rejoin. So all of those factors,

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Speaker 12: and you know, we're vulnerable to attrition rates. And when

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Speaker 12: attrition there's peaks and troughs and attrition. September generally at

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Speaker 12: a time we have a high attrition rate, so all

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Speaker 12: of those things are moving targets and months by months

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Speaker 12: tracking isn't really helpful because it's a very based.

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Speaker 2: Upon my thing, Casey. I mean, you guys deal with

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Speaker 2: the numbers and all of that. But part of it's

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Speaker 2: the vibe, isn't it. Part of it's the sense is

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Speaker 2: crime coming down? Are we feeling safe in our cities

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Speaker 2: and streets? Are the police doing their job? And I

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Speaker 2: don't think you can argue that they're not. We're on

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Speaker 2: the better side of this now, aren't we exactly?

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Speaker 13: Really positive stories.

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Speaker 12: You know when I was had in the podocy just recently,

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Speaker 12: both early on the weekend, you know, there's really positive

436
00:20:30,119 --> 00:20:32,760
Speaker 12: energy and just outstanding.

437
00:20:32,200 --> 00:20:33,359
Speaker 13: Really back to base.

438
00:20:33,440 --> 00:20:35,480
Speaker 12: It's frontline policing, and the vibe.

439
00:20:35,320 --> 00:20:36,840
Speaker 13: Is really positive, good stuff.

440
00:20:36,840 --> 00:20:38,920
Speaker 2: All right, nice talk. Do you appreciate it? Casey Costello

441
00:20:39,000 --> 00:20:42,560
Speaker 2: Associate policeman. It's the nine months ago. She's in charge

442
00:20:42,560 --> 00:20:44,520
Speaker 2: of the numbers. Hence we don't have Mitchell on the program.

443
00:20:44,560 --> 00:20:48,440
Speaker 2: Eighteen minutes away from seven. Neutral is three point five percent,

444
00:20:48,480 --> 00:20:51,200
Speaker 2: so we're still technically tightening the economy. It's the shambles. Well,

445
00:20:51,240 --> 00:20:52,920
Speaker 2: neutral is not three point five percent. I don't know

446
00:20:52,920 --> 00:20:54,600
Speaker 2: where you're getting that from. At worst it was three

447
00:20:54,640 --> 00:20:57,320
Speaker 2: point two five. Most people think it's three. It may

448
00:20:57,359 --> 00:20:59,560
Speaker 2: even be lower. And as one of the blokes from

449
00:20:59,600 --> 00:21:01,840
Speaker 2: the Reserve Bank was explaining your current as Conway, Paul

450
00:21:01,840 --> 00:21:05,080
Speaker 2: Conway was explaining yesterday, neutral is not a thing. Neutrals

451
00:21:05,080 --> 00:21:07,639
Speaker 2: of neutrals a thing that can move. But most people

452
00:21:07,640 --> 00:21:09,880
Speaker 2: seem to think it's not three point five, it's three percent.

453
00:21:10,320 --> 00:21:12,359
Speaker 2: So it's a debate. It's an interesting debate, and that's

454
00:21:12,400 --> 00:21:15,000
Speaker 2: why we got Adrien on later eighteen to two, the.

455
00:21:15,160 --> 00:21:19,480
Speaker 1: Mic Hosking Breakfast Full Show podcast on iHeartRadio pw it

456
00:21:19,520 --> 00:21:21,960
Speaker 1: By News Talks a b very.

457
00:21:21,760 --> 00:21:25,000
Speaker 2: Good news for touristm New Zealand. Hooker Lodge has been

458
00:21:25,040 --> 00:21:27,160
Speaker 2: named as one of the world's best hotels by Forbes

459
00:21:27,200 --> 00:21:29,919
Speaker 2: four Stars and the Forbes sixty seventh Annual Travel Guide

460
00:21:29,960 --> 00:21:33,800
Speaker 2: Star Reward Sustainable Luxury in the New Zealand Wild a

461
00:21:33,920 --> 00:21:37,480
Speaker 2: thrill seeker's paradise. That's why I got married there. I

462
00:21:37,600 --> 00:21:40,119
Speaker 2: married at Hooker's Lodge because I'm a thrill sicker and

463
00:21:40,160 --> 00:21:42,440
Speaker 2: I thought, where do thrill seekers go to get married?

464
00:21:42,480 --> 00:21:45,080
Speaker 2: And the answer was obviously hook A Lodge there in

465
00:21:45,119 --> 00:21:47,879
Speaker 2: the middle of a twenty million dollar refurbishments at the moment,

466
00:21:48,240 --> 00:21:50,720
Speaker 2: So they're going to open again very shortly, fourteen minutes

467
00:21:50,760 --> 00:21:51,400
Speaker 2: away from.

468
00:21:51,240 --> 00:21:55,720
Speaker 1: Seven International Correspondence with ends and eye Insurance, Peace of

469
00:21:55,760 --> 00:21:57,280
Speaker 1: mind for New Zealand business.

470
00:21:57,080 --> 00:22:01,320
Speaker 2: Neatily joinly TENA morning to you, Good morning, make I

471
00:22:01,320 --> 00:22:03,600
Speaker 2: can only imagine this is the one stop shop of

472
00:22:03,640 --> 00:22:06,000
Speaker 2: conversation in your particular part of the world. How is he?

473
00:22:06,119 --> 00:22:06,480
Speaker 2: Do we know?

474
00:22:08,240 --> 00:22:12,040
Speaker 11: Well, Pope Francis has pneumonia in both lungs and that's

475
00:22:12,119 --> 00:22:16,040
Speaker 11: quite complicating, as we know for someone of his age.

476
00:22:16,040 --> 00:22:18,600
Speaker 11: He's eighty eight years old. He had part of one

477
00:22:18,680 --> 00:22:20,840
Speaker 11: of his lungs removed when he was a young man.

478
00:22:21,080 --> 00:22:23,919
Speaker 11: He's had bronchitis in the past, so this is a

479
00:22:23,960 --> 00:22:27,520
Speaker 11: complex respiratory infection. He was doing a little bit better today.

480
00:22:27,600 --> 00:22:30,479
Speaker 11: He was out of bed and sitting in his tenth

481
00:22:30,520 --> 00:22:33,160
Speaker 11: floor suite at Jamali Hospital and he had a visit

482
00:22:33,200 --> 00:22:35,240
Speaker 11: from the Italian Prime Minister, Georgia Maloney.

483
00:22:36,040 --> 00:22:38,880
Speaker 2: The report and it wasn't a tabloid, I will give

484
00:22:38,920 --> 00:22:41,960
Speaker 2: you that, But they suggesting was they're rehearsing his funeral.

485
00:22:42,000 --> 00:22:42,760
Speaker 2: Is that true? Do you know?

486
00:22:44,760 --> 00:22:49,119
Speaker 11: Look, I would expect that those arrangements would be made.

487
00:22:49,240 --> 00:22:51,600
Speaker 11: You know that they would be looking at those preparations

488
00:22:51,600 --> 00:22:53,840
Speaker 11: as we saw for many years before the death of

489
00:22:53,920 --> 00:22:58,720
Speaker 11: Queen Elizabeth. These are standard preparations that the Vatican would

490
00:22:58,720 --> 00:23:01,600
Speaker 11: be I think going through at the moment, Even though

491
00:23:01,600 --> 00:23:03,960
Speaker 11: I haven't seen confirmation about I would expect that.

492
00:23:05,480 --> 00:23:07,119
Speaker 2: And I know you're not a doctor, and I know

493
00:23:07,240 --> 00:23:09,359
Speaker 2: this is my weird fascination. But in looking at the

494
00:23:09,400 --> 00:23:11,760
Speaker 2: pictures of them, like obviously before he went to hospital,

495
00:23:11,960 --> 00:23:15,840
Speaker 2: he's got a tremendous swelling under his jaw in his

496
00:23:16,320 --> 00:23:18,800
Speaker 2: Do we know what that is? Is that obvious to

497
00:23:18,840 --> 00:23:19,399
Speaker 2: people or is.

498
00:23:19,400 --> 00:23:19,800
Speaker 8: It just me?

499
00:23:21,359 --> 00:23:23,520
Speaker 11: I think the understanding is that he's been on court

500
00:23:23,600 --> 00:23:26,000
Speaker 11: his oonne treatment for a while, which has affected his weight,

501
00:23:26,359 --> 00:23:29,760
Speaker 11: and as you said, there was swelling. Many of the

502
00:23:29,840 --> 00:23:34,160
Speaker 11: Vatican journalists who saw his last weekly audience last Wednesday

503
00:23:34,280 --> 00:23:37,520
Speaker 11: said he was absolutely dreadful. He was struggling to speak,

504
00:23:37,560 --> 00:23:40,320
Speaker 11: he couldn't breathe, and they couldn't believe that he wasn't

505
00:23:40,359 --> 00:23:41,320
Speaker 11: in hospital already.

506
00:23:41,640 --> 00:23:43,399
Speaker 2: That's right, those are the pictures I look at. He

507
00:23:43,840 --> 00:23:46,479
Speaker 2: doesn't look well now, speaking of not looking well for

508
00:23:46,520 --> 00:23:49,199
Speaker 2: other reasons, maloney, is that once again Is it just me?

509
00:23:49,280 --> 00:23:51,480
Speaker 2: But I looked at those pictures around the table with

510
00:23:51,560 --> 00:23:54,280
Speaker 2: Macron and co. She looked like she'd rather be down

511
00:23:54,280 --> 00:23:55,480
Speaker 2: at Kentucky Fried Chicken.

512
00:23:57,560 --> 00:23:57,840
Speaker 14: Yeah.

513
00:23:58,000 --> 00:24:01,080
Speaker 11: To me, she just looked like a disdainful teenager. And

514
00:24:01,160 --> 00:24:06,080
Speaker 11: for somebody who has been openly supportive, consistently supportive of

515
00:24:06,320 --> 00:24:10,120
Speaker 11: Zelensky and Ukraine against Russia, suddenly she's in the middle

516
00:24:10,160 --> 00:24:12,359
Speaker 11: of a bit of a pickle because she has to

517
00:24:12,560 --> 00:24:14,800
Speaker 11: side with Europe and at the same time she wants

518
00:24:14,880 --> 00:24:19,040
Speaker 11: to keep her cozy relationship going with Donald Trump, President

519
00:24:19,040 --> 00:24:22,639
Speaker 11: of the US, and she's probably worried about the imposition

520
00:24:22,720 --> 00:24:26,680
Speaker 11: of those tariffs that we haven't heard heard about just yet.

521
00:24:26,920 --> 00:24:29,679
Speaker 2: Can she explain or can you explain? What is it

522
00:24:29,720 --> 00:24:32,080
Speaker 2: about Europe? I mean literally, you guys are having the

523
00:24:32,160 --> 00:24:35,320
Speaker 2: rug pulled out from under you as we speak, as

524
00:24:35,400 --> 00:24:39,239
Speaker 2: peace talks start and continue between Russia and America. And

525
00:24:39,280 --> 00:24:41,639
Speaker 2: you've heard what Trump is said about Zelensky this morning.

526
00:24:41,840 --> 00:24:44,160
Speaker 2: What is it about Europe that they refuse to get

527
00:24:44,200 --> 00:24:47,199
Speaker 2: their act together? What Schultz doing storming out and whining

528
00:24:47,280 --> 00:24:49,920
Speaker 2: and bitching when really you might want to get your

529
00:24:49,920 --> 00:24:52,600
Speaker 2: act together and start looking like you're a bit cohesive.

530
00:24:54,240 --> 00:24:56,359
Speaker 11: Yeah, I think that is still an issue for the

531
00:24:56,400 --> 00:24:59,880
Speaker 11: European leaders, especially for Germany as we know, facing this

532
00:25:00,040 --> 00:25:03,880
Speaker 11: critical election in the next few days. But they do

533
00:25:03,960 --> 00:25:06,560
Speaker 11: need to get their act together, and there are so

534
00:25:06,640 --> 00:25:11,080
Speaker 11: many different political points of view now and different coalitions

535
00:25:11,080 --> 00:25:14,520
Speaker 11: within Europe. For example, as we know, Maloney generally lines

536
00:25:14,640 --> 00:25:20,200
Speaker 11: up much more with Erduwan my bigger pardon Auburn in Hungary,

537
00:25:20,600 --> 00:25:24,280
Speaker 11: so there is this kind of it's very difficult I

538
00:25:24,320 --> 00:25:27,160
Speaker 11: think for the political leaders to build alliances, especially as

539
00:25:27,200 --> 00:25:30,240
Speaker 11: we know President mccron has got weakness in his own

540
00:25:30,320 --> 00:25:33,080
Speaker 11: backyard and Schultz is very weak in Germany.

541
00:25:33,200 --> 00:25:35,520
Speaker 2: It's almost like a vacuum and they're taking advantage of it.

542
00:25:35,720 --> 00:25:38,040
Speaker 2: By the way, itna how spectacular and would you go

543
00:25:38,119 --> 00:25:39,119
Speaker 2: up there and have a good gook.

544
00:25:40,680 --> 00:25:45,159
Speaker 11: Yeah, those images are just incredible. We've had skiers skiing

545
00:25:45,200 --> 00:25:48,280
Speaker 11: down on the snow on the slopes as the lav

546
00:25:48,359 --> 00:25:50,880
Speaker 11: has been erupting. We've had chaos on the streets and

547
00:25:51,320 --> 00:25:53,640
Speaker 11: tourists lining up in their cars to try and take

548
00:25:53,680 --> 00:25:56,159
Speaker 11: a look, and that's causing all sorts of problems and

549
00:25:56,280 --> 00:25:59,080
Speaker 11: flights have been diverted from the area as well. But

550
00:25:59,480 --> 00:26:04,159
Speaker 11: it's certainly worry I think seeing Edna explode and it

551
00:26:04,200 --> 00:26:06,520
Speaker 11: has impact, it will have an impact on tourism if

552
00:26:06,520 --> 00:26:07,080
Speaker 11: that continues.

553
00:26:07,160 --> 00:26:09,359
Speaker 2: Yeah, exactly. And you don't have rules in Italy about that,

554
00:26:09,480 --> 00:26:11,800
Speaker 2: like when the thing's blowing up, you don't go skiing

555
00:26:11,800 --> 00:26:13,600
Speaker 2: down and all stand there and watch it or anything

556
00:26:13,640 --> 00:26:13,960
Speaker 2: like that.

557
00:26:14,960 --> 00:26:15,879
Speaker 11: Stay away.

558
00:26:17,320 --> 00:26:19,240
Speaker 2: How hard can it be? All right? Joe nice to

559
00:26:19,280 --> 00:26:23,199
Speaker 2: catch up Joe mckenneron Thursday Mornings in the Mic, asking breakfast,

560
00:26:23,200 --> 00:26:27,359
Speaker 2: Boris Johnson says this, when are we Europeans going to

561
00:26:27,359 --> 00:26:31,280
Speaker 2: be stopped being scandalized about Donald Trump and start helping

562
00:26:31,359 --> 00:26:33,800
Speaker 2: him in this war? Of course, Ukraine didn't start the war.

563
00:26:33,840 --> 00:26:36,240
Speaker 2: You might as well say America attack Japan at pel Harbor.

564
00:26:36,560 --> 00:26:39,119
Speaker 2: Keimmi bad Knox says, Lenski's not a dictator, He's the

565
00:26:39,119 --> 00:26:43,240
Speaker 2: democratically elected leader of Ukraine. Trump is right that Europe

566
00:26:43,320 --> 00:26:45,440
Speaker 2: needs to pull its weight and that includes the UK.

567
00:26:45,520 --> 00:26:47,560
Speaker 2: We need to get serious. The PM as in Starma,

568
00:26:47,800 --> 00:26:51,480
Speaker 2: will have my support to increase defense spending nine minutes

569
00:26:51,520 --> 00:26:52,040
Speaker 2: away from.

570
00:26:51,880 --> 00:26:55,680
Speaker 1: Seven the Mike Hosking Breakfast with the Range Rover Villa

571
00:26:56,000 --> 00:26:57,280
Speaker 1: News togs Head been might.

572
00:26:57,200 --> 00:26:58,480
Speaker 2: Great to see the police on the beat in the

573
00:26:58,520 --> 00:27:00,960
Speaker 2: Wellington CBD every day. The reasince has had an impact

574
00:27:00,960 --> 00:27:03,000
Speaker 2: with the unsavory characters that hang out in the city

575
00:27:03,000 --> 00:27:05,280
Speaker 2: of largely disappeared. So well done New Zealand police, good

576
00:27:05,280 --> 00:27:07,280
Speaker 2: old school policing. Josh, you're right, I think most of

577
00:27:07,320 --> 00:27:09,600
Speaker 2: a seed around the place. Quality of recruits is good, Mike.

578
00:27:09,920 --> 00:27:11,920
Speaker 2: Close friend in the thirties waited for a better government

579
00:27:11,920 --> 00:27:14,200
Speaker 2: that would allow effected policing, left a well paid job,

580
00:27:14,560 --> 00:27:18,479
Speaker 2: dropped fifty grand to follow her passion nearly through training,

581
00:27:18,520 --> 00:27:20,840
Speaker 2: said all the recruits in who Wing are high caliber,

582
00:27:20,880 --> 00:27:22,960
Speaker 2: which is good to hear. So, Mike, anyone in New

583
00:27:23,040 --> 00:27:25,000
Speaker 2: Zealand who's hanging out for a floating rate for a

584
00:27:25,040 --> 00:27:27,560
Speaker 2: lower mortgage is still getting screwed. If the bn Z

585
00:27:27,720 --> 00:27:30,760
Speaker 2: floating is still seven oh four. They've been effectively forcing

586
00:27:30,760 --> 00:27:32,800
Speaker 2: people to fix sooner. Well, they're not forcing anybody to

587
00:27:32,840 --> 00:27:34,520
Speaker 2: do anything. You're only getting screwed if you think you're

588
00:27:34,520 --> 00:27:37,760
Speaker 2: getting screwed. But as was pointed out yesterday, very very

589
00:27:37,800 --> 00:27:39,919
Speaker 2: few people for obvious reasons, we're on floating at the

590
00:27:39,920 --> 00:27:42,639
Speaker 2: moment because they've worked all this out. People are smart

591
00:27:42,640 --> 00:27:44,439
Speaker 2: when it comes to their own money, and this was

592
00:27:44,440 --> 00:27:47,400
Speaker 2: seed yesterday as well. People have played this pretty well

593
00:27:47,400 --> 00:27:49,480
Speaker 2: because when it comes to your money and your mortgage

594
00:27:49,480 --> 00:27:52,520
Speaker 2: and your home, you do the homework five minutes away

595
00:27:52,520 --> 00:27:54,240
Speaker 2: from seven for.

596
00:27:54,440 --> 00:27:55,760
Speaker 3: The ins and the ouse.

597
00:27:56,040 --> 00:27:59,960
Speaker 1: It's the fizz with business tiber take your business product

598
00:28:00,280 --> 00:28:01,120
Speaker 1: to the next level.

599
00:28:01,280 --> 00:28:03,399
Speaker 2: I'm more insight into the workplace. This is the latest

600
00:28:03,480 --> 00:28:06,440
Speaker 2: Ranstad research. They've called it. Do Kiwis need to get

601
00:28:06,520 --> 00:28:09,960
Speaker 2: real with their workplace ideals. Looked at twenty six zerusand

602
00:28:09,960 --> 00:28:12,240
Speaker 2: people all over the world thirty five countries. Research found

603
00:28:12,240 --> 00:28:15,080
Speaker 2: that forty eight percent wouldn't take a job of the

604
00:28:15,080 --> 00:28:17,960
Speaker 2: company didn't align with their values on social environmental issues.

605
00:28:17,960 --> 00:28:22,440
Speaker 2: What crap, complete bs. Twenty eight percent said they've quit

606
00:28:22,480 --> 00:28:25,600
Speaker 2: their job for this reason. Rubbish ring me now, tell

607
00:28:25,640 --> 00:28:27,320
Speaker 2: me you quit your job because it didn't align with

608
00:28:27,359 --> 00:28:30,800
Speaker 2: your environmental values or if their work wasn't flexible enough.

609
00:28:30,880 --> 00:28:33,480
Speaker 2: Are now I believe that if their work wasn't flexible

610
00:28:33,560 --> 00:28:36,119
Speaker 2: enough with the old work life balance. Now we're starting

611
00:28:36,160 --> 00:28:38,400
Speaker 2: to come to groups with that though. Apparently a number

612
00:28:38,400 --> 00:28:40,200
Speaker 2: of people who said they would quitably a boss told

613
00:28:40,240 --> 00:28:42,440
Speaker 2: them to stop working from home as much. That's dropped

614
00:28:42,480 --> 00:28:44,280
Speaker 2: from fifty percent to thirty two percent out of the

615
00:28:44,280 --> 00:28:46,800
Speaker 2: past year. They also want to want to feel like

616
00:28:46,840 --> 00:28:49,600
Speaker 2: they're part of the family. Eighty seven percent said they

617
00:28:49,600 --> 00:28:51,920
Speaker 2: work better when they feel a sense of community with

618
00:28:52,000 --> 00:28:55,640
Speaker 2: their colleagues. I mean that's crap as well. On that

619
00:28:56,000 --> 00:28:58,960
Speaker 2: work life balance, it's still the most important thing. See

620
00:28:58,960 --> 00:29:02,080
Speaker 2: this is all your environment alignment rubbish. Just drop it.

621
00:29:02,360 --> 00:29:05,280
Speaker 2: Stop b essing us what you're in the environmental alignment

622
00:29:05,280 --> 00:29:06,480
Speaker 2: and executive It doesn't mean.

623
00:29:07,280 --> 00:29:09,160
Speaker 15: Not being able to agree what the your conditioning should be.

624
00:29:09,160 --> 00:29:12,520
Speaker 2: See this work life balance is what drives everybody. Eighty

625
00:29:12,520 --> 00:29:14,280
Speaker 2: eight percent said top of the mind. And if it's

626
00:29:14,320 --> 00:29:16,840
Speaker 2: not work life balance, it's money. You want money. You

627
00:29:16,840 --> 00:29:18,680
Speaker 2: want to sit at home in front of your computer

628
00:29:18,760 --> 00:29:20,960
Speaker 2: with your shoes off and your track is on, and

629
00:29:21,000 --> 00:29:23,360
Speaker 2: you want to pay rise. Come on, at least be

630
00:29:23,640 --> 00:29:27,440
Speaker 2: honest about it. No, I'm worried about the environment. Job

631
00:29:27,520 --> 00:29:30,080
Speaker 2: security is a major not surprisingly at the moment New Zealand,

632
00:29:30,080 --> 00:29:33,560
Speaker 2: specifically the reports that considering unemployment is five point one

633
00:29:33,600 --> 00:29:38,040
Speaker 2: percent unemployment. It's surprising to see talents expectations are still

634
00:29:38,080 --> 00:29:40,920
Speaker 2: so strong. Funny that Brook van Valden will sort that

635
00:29:40,960 --> 00:29:43,080
Speaker 2: out with a new striking business. Next time you're on

636
00:29:43,120 --> 00:29:45,960
Speaker 2: a partial strike, you're not getting the money. You can't

637
00:29:46,000 --> 00:29:47,880
Speaker 2: go on a partial strike and get full pay, So

638
00:29:47,960 --> 00:29:50,720
Speaker 2: that brings over as well mortgages. Right, let's get back

639
00:29:50,720 --> 00:29:52,640
Speaker 2: into this and talk to a mortgage broker. Where are

640
00:29:52,680 --> 00:29:55,360
Speaker 2: we at? What do we do? Should we panic? Fect? Floating?

641
00:29:55,400 --> 00:29:57,680
Speaker 2: How do we do it? Adrian or later then a

642
00:29:57,720 --> 00:30:00,520
Speaker 2: bloke who hopefully has got some ideas to get us

643
00:30:00,520 --> 00:30:03,040
Speaker 2: out of this economic hole. We'll talk to talk to

644
00:30:03,080 --> 00:30:05,080
Speaker 2: a startup specialist.

645
00:30:06,240 --> 00:30:09,160
Speaker 3: News opinion and everything in between.

646
00:30:09,440 --> 00:30:13,800
Speaker 1: The Mike Hosking Break Best with Vita, Retirement Communities, Life

647
00:30:13,960 --> 00:30:15,800
Speaker 1: your Way News, togsadv.

648
00:30:15,480 --> 00:30:17,560
Speaker 2: I think seven past seven two Adrian came to the party,

649
00:30:17,560 --> 00:30:19,840
Speaker 2: has expected cash right down fifty points this more where

650
00:30:19,880 --> 00:30:21,800
Speaker 2: that came from. We'll get to that detail shortly when

651
00:30:21,800 --> 00:30:23,760
Speaker 2: he joins us after seven thirty men times the banks

652
00:30:23,760 --> 00:30:26,680
Speaker 2: have passed on some or all of the fifty points

653
00:30:26,720 --> 00:30:29,440
Speaker 2: in some way, But where does it leave the mortgage market.

654
00:30:29,480 --> 00:30:33,400
Speaker 2: New Zealand Homeland CEO Kip Hannas with us KIPT Morning Morning.

655
00:30:33,440 --> 00:30:36,440
Speaker 2: Mike Or made the point yesterday that there's not a

656
00:30:36,440 --> 00:30:38,600
Speaker 2: lot of money being written at the moment. Will that

657
00:30:38,760 --> 00:30:40,200
Speaker 2: change things or not?

658
00:30:41,360 --> 00:30:45,200
Speaker 16: Yeah, we're seeing certainly a higher level of activity with

659
00:30:45,280 --> 00:30:48,800
Speaker 16: our advisors in terms of inquiry both on refinance and

660
00:30:48,880 --> 00:30:51,480
Speaker 16: also first time loan byers. So I think, yes, we

661
00:30:51,520 --> 00:30:52,960
Speaker 16: will see more activity.

662
00:30:52,560 --> 00:30:54,880
Speaker 2: And is there a level of hesitation now given we

663
00:30:54,960 --> 00:30:56,520
Speaker 2: know two twenty five's are coming.

664
00:30:58,080 --> 00:31:02,719
Speaker 16: Well, what we're seeing Mike our DHL property report is

665
00:31:02,920 --> 00:31:07,600
Speaker 16: actually the biggest concerns of homeowners and first home buyers

666
00:31:07,720 --> 00:31:12,000
Speaker 16: is more around job security and access to finance rather

667
00:31:12,040 --> 00:31:13,360
Speaker 16: than necessarily rates.

668
00:31:13,480 --> 00:31:14,280
Speaker 14: That's east a.

669
00:31:14,240 --> 00:31:18,760
Speaker 16: Bit because they know rates are coming to a reducing right.

670
00:31:19,240 --> 00:31:22,560
Speaker 2: Does I mean when you talked about yesterday in the

671
00:31:22,560 --> 00:31:25,480
Speaker 2: press conference that banks are fiercely competing for this money

672
00:31:25,520 --> 00:31:27,720
Speaker 2: because they haven't written much money, they're out there to

673
00:31:27,720 --> 00:31:29,880
Speaker 2: get what is available. Is that true?

674
00:31:30,760 --> 00:31:36,160
Speaker 16: Yes, we're seeing banks become more competitive, definitely on rates

675
00:31:36,520 --> 00:31:39,040
Speaker 16: and different types of offer. But I think it's also

676
00:31:39,040 --> 00:31:42,120
Speaker 16: important to bear in mind for a customer re client

677
00:31:42,320 --> 00:31:46,480
Speaker 16: that the structure is equally as important as the rate itself,

678
00:31:46,840 --> 00:31:49,760
Speaker 16: and the personalized service and management of the loan can

679
00:31:49,800 --> 00:31:52,959
Speaker 16: actually result in a better outcome than just focusing solely

680
00:31:53,040 --> 00:31:54,040
Speaker 16: on the rate.

681
00:31:54,400 --> 00:31:56,280
Speaker 2: Very good point is are there deals to be had

682
00:31:56,280 --> 00:31:58,360
Speaker 2: to banks move a bit when you hustle.

683
00:31:59,640 --> 00:32:02,120
Speaker 16: Yes, I think it's you know, it's important to get

684
00:32:02,160 --> 00:32:06,000
Speaker 16: advice for your home loan and invest the loan. And

685
00:32:06,040 --> 00:32:08,200
Speaker 16: I think that's why having an advisor is important, because

686
00:32:08,240 --> 00:32:12,640
Speaker 16: they can actually get to those better outcomes with some

687
00:32:12,760 --> 00:32:15,840
Speaker 16: of the banks and suppliers. So yes, there are our

688
00:32:15,960 --> 00:32:17,080
Speaker 16: better outcomes to be had.

689
00:32:17,200 --> 00:32:19,680
Speaker 2: This further discussion, I don't know whether you deal with them,

690
00:32:19,680 --> 00:32:21,600
Speaker 2: but I'm being told that investors a back big time?

691
00:32:21,720 --> 00:32:22,520
Speaker 2: Is that true?

692
00:32:23,480 --> 00:32:25,960
Speaker 16: Coming back is how I describe it. I wouldn't necessarily

693
00:32:25,960 --> 00:32:28,400
Speaker 16: say they're back big time. I think what we're seeing

694
00:32:28,400 --> 00:32:32,360
Speaker 16: in our property report research is that they're coming back

695
00:32:32,400 --> 00:32:35,719
Speaker 16: into the market. I think as rates come down further,

696
00:32:36,840 --> 00:32:39,280
Speaker 16: yes you will see them. You're back in a bigger way.

697
00:32:39,400 --> 00:32:41,720
Speaker 2: Good stuff, Keep appreciate your expertise. Kep Hannah, who's the

698
00:32:41,720 --> 00:32:45,040
Speaker 2: New Zealand home loan CEO name? And it's past sevens?

699
00:32:45,120 --> 00:32:46,959
Speaker 2: Get like the reset with the Cooks is on. Our

700
00:32:47,000 --> 00:32:49,000
Speaker 2: Foreign minister was speaking last night to the Pacific Island

701
00:32:49,040 --> 00:32:53,040
Speaker 2: Political Science Association. He's looking to restate the parameters of

702
00:32:53,080 --> 00:32:55,320
Speaker 2: the current agreement. Winston Peter's with us. Very good morning

703
00:32:55,360 --> 00:32:56,200
Speaker 2: to you.

704
00:32:56,280 --> 00:32:57,320
Speaker 7: Good morning you only.

705
00:32:57,240 --> 00:32:59,400
Speaker 2: Real detail of what Brown signed and brought back to

706
00:32:59,400 --> 00:33:00,120
Speaker 2: the Cooks the other.

707
00:33:02,200 --> 00:33:05,480
Speaker 17: Well, no, I don't have any detail at all because

708
00:33:05,520 --> 00:33:08,080
Speaker 17: he released an over an arching document. But there were

709
00:33:08,120 --> 00:33:11,400
Speaker 17: other agreements that they have entered and that's not been

710
00:33:11,400 --> 00:33:14,480
Speaker 17: shown to either New Zealand or the Cookarland people.

711
00:33:14,600 --> 00:33:17,719
Speaker 2: There's something wrong. What's this problem? I mean, forget us

712
00:33:17,720 --> 00:33:19,680
Speaker 2: for a moment, but the Cook Island people. Some guy

713
00:33:19,760 --> 00:33:21,600
Speaker 2: goes off to China, brings it back and says, I'll

714
00:33:21,640 --> 00:33:22,800
Speaker 2: let you know when I'll let you know. I mean,

715
00:33:22,840 --> 00:33:23,440
Speaker 2: what's that about.

716
00:33:25,320 --> 00:33:27,800
Speaker 17: Well, I suppose you and I are asking the same question.

717
00:33:27,920 --> 00:33:30,640
Speaker 17: But you know, if I go back to nineteen seventy three,

718
00:33:31,440 --> 00:33:34,560
Speaker 17: a long long time ago, Norman Kirk had that problem,

719
00:33:34,760 --> 00:33:37,600
Speaker 17: and then in nine eighty six, David Longi had that problem,

720
00:33:37,600 --> 00:33:40,280
Speaker 17: and in two thousand and one Helen Clark had that problem.

721
00:33:40,400 --> 00:33:43,440
Speaker 17: She sorted out with then Prime Minister Doctor Moate of

722
00:33:43,520 --> 00:33:45,640
Speaker 17: the Cook Islands, and that was the agreement we've been

723
00:33:45,640 --> 00:33:47,680
Speaker 17: working on. We're lying upon, and the very deal and

724
00:33:47,800 --> 00:33:50,560
Speaker 17: raceship we're lying upon, And all we are saying is

725
00:33:51,320 --> 00:33:52,200
Speaker 17: that's the deal we have.

726
00:33:52,280 --> 00:33:52,480
Speaker 7: Now.

727
00:33:52,520 --> 00:33:56,960
Speaker 17: We want to be respected because we're responsible to a

728
00:33:57,000 --> 00:33:59,120
Speaker 17: group of people who are very important to this country

729
00:33:59,120 --> 00:33:59,920
Speaker 17: and any democracy.

730
00:34:00,360 --> 00:34:02,680
Speaker 7: They're called the disial taxpayers exactly.

731
00:34:02,880 --> 00:34:06,040
Speaker 2: China says it. Don't worry about it, it's all complementary.

732
00:34:06,040 --> 00:34:07,600
Speaker 2: Everything's good. Do you believe them?

733
00:34:09,040 --> 00:34:13,040
Speaker 17: Well, you know there's a famous business sort of principle.

734
00:34:13,080 --> 00:34:16,000
Speaker 17: It's called trust but verify. Yeah, I trust everybody, but

735
00:34:16,000 --> 00:34:17,759
Speaker 17: I check it out and make sure that what I'm

736
00:34:17,800 --> 00:34:20,760
Speaker 17: hearing is correct and right, and that I can account

737
00:34:20,760 --> 00:34:23,080
Speaker 17: to the Parliament of Misil if a mask question or

738
00:34:23,120 --> 00:34:25,320
Speaker 17: the people of Mosil with a mass questions.

739
00:34:25,600 --> 00:34:27,640
Speaker 2: I read something the other day the Australians have a

740
00:34:27,840 --> 00:34:30,480
Speaker 2: tightest sort of agreement with US and with their issues

741
00:34:30,480 --> 00:34:35,040
Speaker 2: with Tabalu. They then the Solomons they tightened up the agreement.

742
00:34:35,040 --> 00:34:37,160
Speaker 2: In other words, it's a more explicit agreement. Are we

743
00:34:37,200 --> 00:34:38,759
Speaker 2: going to need to go down that track.

744
00:34:40,520 --> 00:34:40,719
Speaker 7: Work?

745
00:34:40,760 --> 00:34:43,440
Speaker 17: We shouldn't have to, you know, it's a thing called respect.

746
00:34:43,719 --> 00:34:47,279
Speaker 17: We have done enormous things for the realm countries. We

747
00:34:47,360 --> 00:34:51,319
Speaker 17: have been enormously responsible. We've made mistakes over the years.

748
00:34:51,320 --> 00:34:53,200
Speaker 17: We always do make mistakes, and that's the way life is,

749
00:34:53,239 --> 00:34:55,880
Speaker 17: and that's the way there. I say, broadcasting in politics is,

750
00:34:56,200 --> 00:34:59,040
Speaker 17: but we've never stopped trying. And I'm not going to

751
00:34:59,239 --> 00:35:02,000
Speaker 17: think that this or treat this relationship as anything about

752
00:35:02,000 --> 00:35:03,919
Speaker 17: some of that New Zealand people can be enormously proud

753
00:35:03,960 --> 00:35:06,759
Speaker 17: about it. So yes, what I'm really saying to the

754
00:35:06,760 --> 00:35:10,360
Speaker 17: Cook ar leadership is you have to tell your people

755
00:35:10,600 --> 00:35:15,160
Speaker 17: because any change you might make, I'm responsible constitutionally to

756
00:35:15,280 --> 00:35:18,279
Speaker 17: ask your people first. They are in the end. I

757
00:35:18,280 --> 00:35:20,239
Speaker 17: know they're only voters, but they are the masters of

758
00:35:20,239 --> 00:35:20,800
Speaker 17: this business.

759
00:35:22,640 --> 00:35:25,400
Speaker 2: I get what you're saying. Is it entirely possible that

760
00:35:25,440 --> 00:35:27,960
Speaker 2: if you can iron this out with Brown, what they've

761
00:35:28,000 --> 00:35:30,560
Speaker 2: signed is benign. In other words, it's not the end

762
00:35:30,560 --> 00:35:31,000
Speaker 2: of the world.

763
00:35:32,440 --> 00:35:35,120
Speaker 17: Well, you know, you could be right, but we should

764
00:35:35,120 --> 00:35:38,600
Speaker 17: have known beforehand because that's the special relationship we have.

765
00:35:39,600 --> 00:35:41,560
Speaker 2: No I go, look, I don't disagree with you. By

766
00:35:41,600 --> 00:35:44,320
Speaker 2: the way, the Debbie Packer. Did you see what she

767
00:35:44,400 --> 00:35:46,200
Speaker 2: said on the news about her arrival in the Cook

768
00:35:46,280 --> 00:35:47,040
Speaker 2: Islands the other day?

769
00:35:49,920 --> 00:35:52,319
Speaker 17: Mister Hoskins said in the as stund as you were,

770
00:35:52,480 --> 00:35:55,200
Speaker 17: because we're sitting in Parliament, we're in the first few

771
00:35:55,200 --> 00:35:57,920
Speaker 17: weeks and she's on holiday. This is the person I'm

772
00:35:57,920 --> 00:36:01,359
Speaker 17: ten and six thousand dollars a year to speak and

773
00:36:01,400 --> 00:36:03,960
Speaker 17: I can tell you this. I've traveled extensively in twenty

774
00:36:03,960 --> 00:36:08,040
Speaker 17: twenty four, but I spend more time in parliament over

775
00:36:08,120 --> 00:36:10,520
Speaker 17: this one hundred and twelve days. I spend more time

776
00:36:10,560 --> 00:36:14,040
Speaker 17: in parliament all the marat Pardy members.

777
00:36:13,719 --> 00:36:14,400
Speaker 7: All put together.

778
00:36:14,600 --> 00:36:17,560
Speaker 17: Oh now that's a disgrace. Yes, marrit people out there

779
00:36:17,560 --> 00:36:20,360
Speaker 17: were working seventy eighty hours a day a week and

780
00:36:20,400 --> 00:36:22,760
Speaker 17: working sometimes two or three jobs. I got to ask themselves,

781
00:36:23,440 --> 00:36:24,799
Speaker 17: are we being taking for a ride here?

782
00:36:25,360 --> 00:36:27,680
Speaker 2: When she arrived and she said she knew nothing of

783
00:36:27,719 --> 00:36:31,000
Speaker 2: the passport deal and she knew nothing of the China trip.

784
00:36:31,800 --> 00:36:36,200
Speaker 2: How do you explain that a person's inner parliament and

785
00:36:36,280 --> 00:36:39,200
Speaker 2: knows nothing about her country or region farls of the world.

786
00:36:39,239 --> 00:36:41,920
Speaker 2: How does that happen? And are we being well served

787
00:36:41,960 --> 00:36:42,840
Speaker 2: when you're that naive?

788
00:36:44,360 --> 00:36:48,400
Speaker 17: Well, comments of incredulity are not a stranger on your program.

789
00:36:48,680 --> 00:36:51,080
Speaker 17: But I can tell you that what's the most remarkable

790
00:36:51,080 --> 00:36:53,279
Speaker 17: thing I thought was has she been numbed out or

791
00:36:53,320 --> 00:36:55,680
Speaker 17: she been in a coma for the last three weeks?

792
00:36:56,360 --> 00:36:59,000
Speaker 2: What do you do? I don't know anyway. That's democracy

793
00:36:59,040 --> 00:37:00,440
Speaker 2: is you're say nice to talk to you appreciate it.

794
00:37:00,520 --> 00:37:03,560
Speaker 2: Winston Peter's the Foreign minister. It's thirteen minutes past seven,

795
00:37:03,800 --> 00:37:07,160
Speaker 2: asking report Country New Zealand, Mike, our biggest earner, Dary

796
00:37:07,280 --> 00:37:10,239
Speaker 2: is maxed out. Country can't handle more cars. Reality is

797
00:37:10,440 --> 00:37:12,879
Speaker 2: it's harmful to the environment. We desperately need to find

798
00:37:13,000 --> 00:37:15,920
Speaker 2: other industries that can make this country more money, or

799
00:37:15,920 --> 00:37:19,279
Speaker 2: we're heading down a rabbit hole. Well, I've got good

800
00:37:19,320 --> 00:37:22,839
Speaker 2: news for you. And his name is Rowan Simpson and

801
00:37:22,840 --> 00:37:24,960
Speaker 2: he's with us after EPE. You want to hear him.

802
00:37:25,080 --> 00:37:27,200
Speaker 2: Fourteen past the.

803
00:37:27,239 --> 00:37:31,640
Speaker 1: Mike asking Breakfast Full Show podcast on iHeartRadio powered by

804
00:37:31,680 --> 00:37:32,439
Speaker 1: News Talks at.

805
00:37:32,360 --> 00:37:34,959
Speaker 2: B Mike, she said she didn't know about the China

806
00:37:34,960 --> 00:37:37,520
Speaker 2: trip yet. In Parliament Feb eleven, she asked questions related

807
00:37:37,560 --> 00:37:39,359
Speaker 2: to the China trip. That's exactly right. We told you

808
00:37:39,360 --> 00:37:41,080
Speaker 2: this twenty four hours ago on the program. Stay with

809
00:37:41,160 --> 00:37:42,759
Speaker 2: us from Monday to Friday, six till night, and we

810
00:37:42,800 --> 00:37:45,759
Speaker 2: don't ask much. So either she was lying when she

811
00:37:45,760 --> 00:37:47,200
Speaker 2: got to the cock Island she didn't know about the

812
00:37:47,280 --> 00:37:50,080
Speaker 2: China trip to pretend that she didn't, or in asking

813
00:37:50,120 --> 00:37:52,000
Speaker 2: the question in parliament she had no idea what she

814
00:37:52,080 --> 00:37:54,560
Speaker 2: was saying. It's one of the other right, seventeen pass

815
00:37:54,640 --> 00:37:57,680
Speaker 2: We've got a scam study it's not a scam study.

816
00:37:57,719 --> 00:38:01,239
Speaker 2: It's a new study on scams. Yes, we're becoming increasingly

817
00:38:01,280 --> 00:38:04,360
Speaker 2: soft targets. Recent Crime and Victims Survey estimates five hundred

818
00:38:04,360 --> 00:38:06,600
Speaker 2: and forty one thousand of US experience fra aud of

819
00:38:06,680 --> 00:38:09,440
Speaker 2: deception last year. How does that work? Independent Research Solutions

820
00:38:09,440 --> 00:38:12,960
Speaker 2: director Jared Gilberts with US Jared morning, Good morning, Mike.

821
00:38:13,120 --> 00:38:14,000
Speaker 2: You had a new job.

822
00:38:16,239 --> 00:38:18,720
Speaker 15: I'm still with the University of Canterbury, but I've always

823
00:38:18,719 --> 00:38:20,920
Speaker 15: had the company on the side.

824
00:38:21,160 --> 00:38:24,520
Speaker 2: Good on you, fair enough? So why see, if you

825
00:38:24,560 --> 00:38:26,680
Speaker 2: do the numbers, five hundred and forty one thousand over

826
00:38:26,719 --> 00:38:28,440
Speaker 2: a ten year period, that's everyone in the country. I

827
00:38:28,440 --> 00:38:30,480
Speaker 2: find I find that hard to believe, if not impossible.

828
00:38:31,080 --> 00:38:35,120
Speaker 15: These numbers are astonishing and you can absolutely the numbers

829
00:38:35,120 --> 00:38:38,759
Speaker 15: that Crime and Victims Survey has got a rigorous methodology.

830
00:38:39,160 --> 00:38:42,719
Speaker 15: This is the most prominent crime in New Zealand's and

831
00:38:42,760 --> 00:38:44,640
Speaker 15: what's more, it's only going to get worse.

832
00:38:44,960 --> 00:38:45,560
Speaker 2: Are we thick?

833
00:38:47,480 --> 00:38:51,160
Speaker 15: We are slipping behind the eight ball? But here, Mike,

834
00:38:51,200 --> 00:38:53,920
Speaker 15: which is really concerning because a picture of this. If

835
00:38:53,960 --> 00:38:58,440
Speaker 15: you're an international scammer and they are almost universally offshore,

836
00:38:59,320 --> 00:39:01,439
Speaker 15: what you do you don't care where that money comes from.

837
00:39:01,560 --> 00:39:04,319
Speaker 15: You're just looking for the softest target possible. So if

838
00:39:04,400 --> 00:39:07,080
Speaker 15: New Zealand's off, New Zealand isn't putting things in place

839
00:39:07,120 --> 00:39:10,320
Speaker 15: to make this more difficult for them, then we will

840
00:39:10,520 --> 00:39:13,439
Speaker 15: become even a more significant target than we are now.

841
00:39:13,640 --> 00:39:15,880
Speaker 15: This is something that we really to act on an

842
00:39:15,880 --> 00:39:16,640
Speaker 15: acturate urgency.

843
00:39:16,680 --> 00:39:20,120
Speaker 2: Couldn't agree more. I got a text yesterday that said, Hi, Mom,

844
00:39:20,120 --> 00:39:22,040
Speaker 2: I've got a new WhatsApp address, can you see me?

845
00:39:22,640 --> 00:39:24,480
Speaker 2: So I deleted So I did the right thing.

846
00:39:24,600 --> 00:39:28,640
Speaker 15: Yeah, that's exactly right. But the problem is, see if

847
00:39:30,160 --> 00:39:33,160
Speaker 15: those links I got that too. By the way, those

848
00:39:33,280 --> 00:39:37,640
Speaker 15: links can be blocked very very quickly. Chech companies, right,

849
00:39:37,640 --> 00:39:39,840
Speaker 15: they can be blocked. But what we need at the moment,

850
00:39:39,880 --> 00:39:42,920
Speaker 15: there's no way. There's so many places to report these

851
00:39:43,280 --> 00:39:45,799
Speaker 15: and people say, well there's no wrong or to report them. Well,

852
00:39:45,800 --> 00:39:48,080
Speaker 15: that means there's no right doors. So we need to

853
00:39:48,080 --> 00:39:52,560
Speaker 15: bring government agencies all together in the same room physically,

854
00:39:53,239 --> 00:39:56,920
Speaker 15: plus private enterprise, so the tech companies in the banks,

855
00:39:56,960 --> 00:39:59,440
Speaker 15: to ensure that we can get on top of this as.

856
00:39:59,320 --> 00:40:00,759
Speaker 7: Quickly as well.

857
00:40:00,800 --> 00:40:02,920
Speaker 2: Let's hope we do, because I'm sort of sick of

858
00:40:02,960 --> 00:40:04,600
Speaker 2: talking about it, not to you jerk because you're a

859
00:40:04,640 --> 00:40:06,239
Speaker 2: nice guy. But you know how many years have we

860
00:40:06,320 --> 00:40:07,400
Speaker 2: been talking about scams?

861
00:40:07,640 --> 00:40:07,799
Speaker 7: Mike?

862
00:40:07,840 --> 00:40:10,000
Speaker 2: Why do you never have anybody from multi party? What

863
00:40:10,040 --> 00:40:12,680
Speaker 2: does that mean? O? The Mari Party, from Mariy Party,

864
00:40:12,680 --> 00:40:15,320
Speaker 2: all the Greens on if you need to ask you

865
00:40:15,400 --> 00:40:17,680
Speaker 2: listen to the wrong show. You're not actually because clearly

866
00:40:17,760 --> 00:40:21,040
Speaker 2: you're enjoying it. But work it out. Nineteen past seven.

867
00:40:22,760 --> 00:40:27,520
Speaker 1: The Mic Asking Breakfast Full Show podcast on iHeartRadio Power

868
00:40:27,640 --> 00:40:28,680
Speaker 1: by News talks.

869
00:40:28,440 --> 00:40:36,200
Speaker 2: Evy unmistakable silhouette, characteristic falling roofline. You've got the continuous waistline,

870
00:40:36,239 --> 00:40:38,440
Speaker 2: the floating roof effect as well. So this is the

871
00:40:38,480 --> 00:40:41,359
Speaker 2: evoke we talk of. The rain drover. Evoke carries rain

872
00:40:41,440 --> 00:40:44,000
Speaker 2: drovers designed DNA carries over forty five years of innovation

873
00:40:44,120 --> 00:40:46,319
Speaker 2: and refinement. There are no compromises with the evokes plug

874
00:40:46,400 --> 00:40:49,399
Speaker 2: an hybrid engine, electric range up to sixty one k's

875
00:40:49,440 --> 00:40:52,080
Speaker 2: rapid DC charging. You can explore the city streets and beyond,

876
00:40:52,120 --> 00:40:53,880
Speaker 2: and the a Vote continues to lead the way. With

877
00:40:54,040 --> 00:40:57,120
Speaker 2: the interior technologies as well, they enhance every drive so

878
00:40:57,160 --> 00:40:59,560
Speaker 2: you've got unobstructed view with the most comprehensive suite of

879
00:40:59,600 --> 00:41:03,719
Speaker 2: camerack in its class Cleo Site Rearview mirror three D

880
00:41:03,840 --> 00:41:06,319
Speaker 2: surround camera with Cleo Site ground View that provides three

881
00:41:06,400 --> 00:41:09,360
Speaker 2: hundred and sixty degree view of your surroundings. So super

882
00:41:09,400 --> 00:41:12,279
Speaker 2: confident on the maneuvering. The ranger of Evokes cabinet a

883
00:41:12,320 --> 00:41:15,839
Speaker 2: purification plus monitors and controls. The equality promotes well being,

884
00:41:15,920 --> 00:41:18,840
Speaker 2: heightens the alertness. The immersive Meridian sound system going to

885
00:41:18,840 --> 00:41:21,080
Speaker 2: be her to be believed up until the end of March.

886
00:41:21,160 --> 00:41:23,440
Speaker 2: March thirty won the Evokes p have that comes with

887
00:41:23,560 --> 00:41:26,959
Speaker 2: a free f next home AC charger, So you plug

888
00:41:27,040 --> 00:41:28,399
Speaker 2: that and at the end of the day you're ready

889
00:41:28,400 --> 00:41:31,240
Speaker 2: for tomorrow. Simple as that. Visit your local retailer today.

890
00:41:31,440 --> 00:41:34,360
Speaker 2: Charge into the future with the fabulous range rover you

891
00:41:34,600 --> 00:41:39,920
Speaker 2: voke PASC twenty three. Mike is a financial advisor. None

892
00:41:39,960 --> 00:41:43,520
Speaker 2: of my clients get scammed because they call me for advice.

893
00:41:43,600 --> 00:41:46,239
Speaker 2: I can't muster much sympathy for victims when they don't

894
00:41:46,280 --> 00:41:48,400
Speaker 2: ask for professional advice. To be fair to some of

895
00:41:48,400 --> 00:41:51,040
Speaker 2: the victims, it's not always about financial advice. It's just

896
00:41:51,080 --> 00:41:53,160
Speaker 2: little fishing scams. I'll give you one in a moment anyway.

897
00:41:53,200 --> 00:41:54,920
Speaker 2: Given the issues around key we say, we've got to

898
00:41:55,000 --> 00:41:57,839
Speaker 2: talk to you about this. So this key, we say

899
00:41:57,920 --> 00:42:00,560
Speaker 2: a business miracle. Any of us are saving anything remotely

900
00:42:00,600 --> 00:42:02,840
Speaker 2: independent in retirement. Last week we told you about the

901
00:42:02,880 --> 00:42:05,600
Speaker 2: morning Star rankings, right, how the biggest operator in the

902
00:42:05,640 --> 00:42:07,680
Speaker 2: market was performing so poorly. And now we have yet

903
00:42:07,719 --> 00:42:10,359
Speaker 2: another cracket where the money is actually being invested. Group

904
00:42:10,440 --> 00:42:14,920
Speaker 2: called Mindful Money is upset over the increase in funds

905
00:42:14,920 --> 00:42:17,520
Speaker 2: going to fossil fuel producers. We have apparently a twenty

906
00:42:17,600 --> 00:42:20,600
Speaker 2: percent increase in the last six months. That's despite the

907
00:42:20,600 --> 00:42:22,560
Speaker 2: amount of new money flowing into KEI. We saves only

908
00:42:22,640 --> 00:42:26,279
Speaker 2: seven percent. Now, Mindful Money is clearly of the view

909
00:42:26,320 --> 00:42:28,520
Speaker 2: that the whole transition away from fossil fuels is still

910
00:42:28,520 --> 00:42:31,560
Speaker 2: an urgent and present thing, when clearly it is not.

911
00:42:32,040 --> 00:42:35,160
Speaker 2: What we have here is a clash of reality vi ideology.

912
00:42:35,200 --> 00:42:38,000
Speaker 2: The reality is KIWI saver funds look for returns right.

913
00:42:38,239 --> 00:42:41,040
Speaker 2: The ideology is that no matter how unrealistic it is

914
00:42:41,120 --> 00:42:42,960
Speaker 2: to run the world on sun and when we still

915
00:42:43,040 --> 00:42:46,000
Speaker 2: need to sacrifice even more to get there, if there's

916
00:42:46,080 --> 00:42:49,640
Speaker 2: been one crushing realization that's passed year or so around

917
00:42:49,680 --> 00:42:52,480
Speaker 2: that it is the simple truth that the transition to

918
00:42:52,560 --> 00:42:56,799
Speaker 2: renewables has been found out and badly. Genesis have half

919
00:42:56,800 --> 00:42:58,759
Speaker 2: a million tons of cold standing by for this winter

920
00:42:58,840 --> 00:43:00,560
Speaker 2: to keep the lights on. They have another half million

921
00:43:00,640 --> 00:43:02,960
Speaker 2: tons on order, with a backup order of another two

922
00:43:03,040 --> 00:43:06,440
Speaker 2: hundred thousand tons. Someone minds that coal. That's good business.

923
00:43:06,520 --> 00:43:08,840
Speaker 2: Good business pays dividends, and don't even look if you

924
00:43:08,920 --> 00:43:12,560
Speaker 2: hate coal at India and China. Coal is booming. Doesn't

925
00:43:12,600 --> 00:43:15,920
Speaker 2: make it nice or palatable, but it's real, and investment

926
00:43:16,040 --> 00:43:18,399
Speaker 2: is about reality. We're in a time, I think, where

927
00:43:18,480 --> 00:43:20,600
Speaker 2: the cold hard truth of what we thought was going

928
00:43:20,680 --> 00:43:23,239
Speaker 2: to be easy isn't. It might not even turn out

929
00:43:23,280 --> 00:43:25,000
Speaker 2: to be that real. The last thing we need a

930
00:43:25,080 --> 00:43:28,040
Speaker 2: quisaber funds playing dumb games like the banks and looking

931
00:43:28,120 --> 00:43:31,719
Speaker 2: to deny legitimate activity the financial lifeblood it needs to

932
00:43:31,840 --> 00:43:34,960
Speaker 2: produce goods and services that people actually want. What we

933
00:43:35,080 --> 00:43:37,640
Speaker 2: want in keywisaver is a pool of money that grows.

934
00:43:38,000 --> 00:43:40,680
Speaker 2: That happens by investing in relevant activities that turn a

935
00:43:40,719 --> 00:43:45,280
Speaker 2: dollar and pay a dividend. Moral indignation doesn't fund retirement.

936
00:43:45,880 --> 00:43:46,719
Speaker 3: Paski flins.

937
00:43:46,760 --> 00:43:49,400
Speaker 2: It is what Sammy got yesterday. Hi fire text.

938
00:43:49,880 --> 00:43:50,000
Speaker 13: Hi.

939
00:43:50,160 --> 00:43:52,279
Speaker 2: My name's Karina Joe and I'm a recruiter at shave

940
00:43:52,360 --> 00:43:54,920
Speaker 2: me Jobs. We're currently looking for a part time assistant

941
00:43:54,960 --> 00:43:57,400
Speaker 2: to join our team. The online work schedule is flexible

942
00:43:57,719 --> 00:44:00,319
Speaker 2: and you can work remotely. This job only takes one

943
00:44:00,400 --> 00:44:02,760
Speaker 2: hour a day and you can be done anytime anywhere.

944
00:44:02,800 --> 00:44:06,319
Speaker 2: With daily wages ranging from four hundred and eighty eight

945
00:44:06,400 --> 00:44:09,560
Speaker 2: dollars to twenty three hundred and seventy eight dollars. You'll

946
00:44:09,600 --> 00:44:11,640
Speaker 2: be paid immediately at the end of each workday. All

947
00:44:11,680 --> 00:44:14,280
Speaker 2: you need is a smartphone or computer to start working.

948
00:44:14,320 --> 00:44:16,560
Speaker 2: You can even work on weekends or pay any free time.

949
00:44:17,400 --> 00:44:20,640
Speaker 2: If you're interested, please contact me via WhatsApp. There's a number.

950
00:44:20,719 --> 00:44:22,799
Speaker 2: Note you must be at least twenty five years old.

951
00:44:23,239 --> 00:44:26,520
Speaker 2: Sammy took that, went straight to the boss and said

952
00:44:26,560 --> 00:44:29,000
Speaker 2: I need a pay rise, at which point the boss

953
00:44:29,080 --> 00:44:32,120
Speaker 2: looked at it and said, that's a scam, Sammy. He

954
00:44:32,239 --> 00:44:33,839
Speaker 2: thinks it's a good scam. I don't even think it's

955
00:44:33,840 --> 00:44:34,799
Speaker 2: a good sam scam.

956
00:44:34,920 --> 00:44:36,600
Speaker 3: Yeah, I got that exact same TX.

957
00:44:36,680 --> 00:44:38,759
Speaker 7: I thought it was personalized just to me. You know that.

958
00:44:38,920 --> 00:44:40,919
Speaker 2: No, it's hiring new Glyn. I mean, surely he knows

959
00:44:41,160 --> 00:44:44,560
Speaker 2: it's a scam. Mike. We're trying to refix our mortgage,

960
00:44:44,600 --> 00:44:47,040
Speaker 2: but after repeated requests, our bank apparently can't tell us

961
00:44:47,080 --> 00:44:47,680
Speaker 2: what the break fear is.

962
00:44:47,719 --> 00:44:48,400
Speaker 8: Well, it's bollocks.

963
00:44:49,239 --> 00:44:51,719
Speaker 2: The bank sorted out in about thirty seconds. Don't take

964
00:44:51,800 --> 00:44:53,360
Speaker 2: that crap from them and change banks.

965
00:44:54,080 --> 00:44:54,279
Speaker 8: Mike.

966
00:44:54,400 --> 00:44:55,960
Speaker 2: I don't know if you mentioned this, but did you

967
00:44:56,000 --> 00:44:58,760
Speaker 2: watch the launch of the F one season on Sky Series.

968
00:44:59,200 --> 00:45:02,120
Speaker 2: Of course I've watched it, watched it live ish yesterday

969
00:45:02,239 --> 00:45:05,239
Speaker 2: on the bike at the O two Arena. Got some

970
00:45:05,320 --> 00:45:10,840
Speaker 2: thoughts on that. If any entrepreneur or promoter wants tips

971
00:45:10,920 --> 00:45:14,200
Speaker 2: on how to run a good show, watch that, because

972
00:45:14,400 --> 00:45:17,960
Speaker 2: essentially that was just ten cars and twenty drivers over

973
00:45:18,080 --> 00:45:19,319
Speaker 2: two hours, and you think, well, how are we going

974
00:45:19,400 --> 00:45:20,160
Speaker 2: to fill the time there?

975
00:45:20,640 --> 00:45:21,640
Speaker 3: And they did and my.

976
00:45:21,760 --> 00:45:24,440
Speaker 2: Word, it was brilliant. So we'll have more on that shortly. Meantime.

977
00:45:24,920 --> 00:45:27,080
Speaker 2: Adrian or b Reserve Bank Government back on the program

978
00:45:27,160 --> 00:45:29,520
Speaker 2: after the News, which is next, he reviews togs. There'd

979
00:45:29,560 --> 00:45:32,319
Speaker 2: be you There are.

980
00:45:36,000 --> 00:45:39,960
Speaker 1: New Zealand's home for trusted news and views, The Mike

981
00:45:40,040 --> 00:45:43,759
Speaker 1: Hosking Breakfast with the range Rover, the la designed to

982
00:45:43,920 --> 00:45:45,120
Speaker 1: intrigue and use togs.

983
00:45:45,160 --> 00:45:45,680
Speaker 11: That'd be we.

984
00:45:45,760 --> 00:45:48,680
Speaker 2: Instims an entrepreneur, a bloke who spotted trade me before

985
00:45:48,719 --> 00:45:51,880
Speaker 2: anyone spotted trading and thought to that zero was another

986
00:45:51,920 --> 00:45:54,759
Speaker 2: one of his was investments. So he's with us, up

987
00:45:54,800 --> 00:45:57,239
Speaker 2: for light o'clock this morning, speaking the money, speaking of productivity,

988
00:45:57,680 --> 00:45:59,759
Speaker 2: speaking of the economy of twenty three minutes away from mate.

989
00:45:59,800 --> 00:46:02,080
Speaker 2: If I had adrian Or correctly yesterday, the fifty points

990
00:46:02,120 --> 00:46:04,160
Speaker 2: will come with another couple of cuts shortly, and at

991
00:46:04,200 --> 00:46:07,360
Speaker 2: that point, all things being equal, we are in neutral territory.

992
00:46:07,520 --> 00:46:10,560
Speaker 2: The drama is over. Adrianaor's with us. Very good morning,

993
00:46:10,840 --> 00:46:14,719
Speaker 2: am I. Worldwide coverage of what you did yesterday continuously

994
00:46:14,880 --> 00:46:18,480
Speaker 2: and consistently use the word slashed. New Zealand has slashed.

995
00:46:19,200 --> 00:46:21,160
Speaker 2: Does slashed imply drama or not?

996
00:46:23,160 --> 00:46:26,400
Speaker 14: It does imply drama, but it's probably misnamed for us.

997
00:46:26,719 --> 00:46:30,640
Speaker 14: It was the financial markets totally anticipated what we did.

998
00:46:30,719 --> 00:46:32,759
Speaker 14: In fact, we merely left a rule. If it was

999
00:46:32,760 --> 00:46:34,960
Speaker 14: a high dive, we would have got a ten. So

1000
00:46:35,480 --> 00:46:36,680
Speaker 14: I'll share what they're talking about.

1001
00:46:37,160 --> 00:46:41,360
Speaker 2: The banks have passed on some but not all. Is

1002
00:46:41,440 --> 00:46:42,400
Speaker 2: that acceptable or not?

1003
00:46:44,560 --> 00:46:48,759
Speaker 14: The banks need to do better. They need to look

1004
00:46:48,920 --> 00:46:54,560
Speaker 14: at their own margins and chase and compete with customers

1005
00:46:55,560 --> 00:46:59,640
Speaker 14: much more vigorously. Their funding costs are being challenged because

1006
00:46:59,680 --> 00:47:01,680
Speaker 14: you know, the official cash road is only one of

1007
00:47:01,719 --> 00:47:05,319
Speaker 14: the variables that go into what they have to pay

1008
00:47:05,360 --> 00:47:08,600
Speaker 14: when they're borrowing money to on land. But the margin

1009
00:47:09,000 --> 00:47:10,720
Speaker 14: is also sitting there at.

1010
00:47:10,560 --> 00:47:11,680
Speaker 8: A very healthy level.

1011
00:47:11,800 --> 00:47:17,239
Speaker 14: So one would hope that when the competition, when people

1012
00:47:17,320 --> 00:47:19,880
Speaker 14: come back to the market, which they're doing in drums

1013
00:47:19,920 --> 00:47:24,200
Speaker 14: and drabs now, competition is alive those.

1014
00:47:24,080 --> 00:47:25,960
Speaker 2: Profit margins you talked about. We saw a couple of

1015
00:47:25,960 --> 00:47:27,680
Speaker 2: results in the last week or so and I always

1016
00:47:27,680 --> 00:47:29,920
Speaker 2: compare the Australian number to the New Zealand number. The

1017
00:47:29,920 --> 00:47:32,160
Speaker 2: New Zealand number is always higher than the Australian number.

1018
00:47:32,880 --> 00:47:35,600
Speaker 2: Why hasn't that been addressed by the government or you

1019
00:47:36,000 --> 00:47:38,799
Speaker 2: or somebody somewhere so we get a better deal?

1020
00:47:40,160 --> 00:47:43,320
Speaker 14: Yeah, I mean, spot on. The biggest challenge is, you know,

1021
00:47:43,960 --> 00:47:48,920
Speaker 14: income streams don't disrupt themselves, but they need disrupting. We're

1022
00:47:48,960 --> 00:47:51,040
Speaker 14: doing a lot of work here at the bank. While

1023
00:47:51,200 --> 00:47:54,160
Speaker 14: whilst you know, we always get blamed for capital or

1024
00:47:54,320 --> 00:47:59,080
Speaker 14: you know, prudential things for the level of interest rates,

1025
00:47:59,280 --> 00:48:03,040
Speaker 14: we're talking foot margins here and you know, the disruption

1026
00:48:03,200 --> 00:48:06,719
Speaker 14: type things we're looking at doing is Central Bank visuital currencies,

1027
00:48:07,360 --> 00:48:11,000
Speaker 14: open access to our aim and settlement systems, all of

1028
00:48:11,080 --> 00:48:15,640
Speaker 14: the plumbing the background, allowing people to compete in the

1029
00:48:15,760 --> 00:48:21,080
Speaker 14: simple transaction world at a cost I mean some countries,

1030
00:48:21,160 --> 00:48:26,800
Speaker 14: So we would be multiples more expensive than many countries

1031
00:48:26,920 --> 00:48:28,680
Speaker 14: just to do basic transactional banking.

1032
00:48:29,000 --> 00:48:32,000
Speaker 2: Ultimately whose doorsteps as on the governments.

1033
00:48:34,880 --> 00:48:35,200
Speaker 8: It's.

1034
00:48:36,600 --> 00:48:39,520
Speaker 14: You know, and the government's pretty limited. I mean, it's competition.

1035
00:48:39,760 --> 00:48:42,520
Speaker 14: You've seen how hard it is to penetrate. I think

1036
00:48:43,160 --> 00:48:49,960
Speaker 14: I think it's technology implementation. You know, we've I could

1037
00:48:50,239 --> 00:48:52,120
Speaker 14: rattle off a list of things we're doing which I

1038
00:48:52,200 --> 00:48:56,840
Speaker 14: think would fundamentally change the competitive landscape government has to

1039
00:48:56,960 --> 00:48:57,880
Speaker 14: buy into.

1040
00:48:58,480 --> 00:49:01,520
Speaker 2: That would argue they are are they not? Because I

1041
00:49:01,560 --> 00:49:03,479
Speaker 2: mean Nicola Willis is all over. I mean, you plainly

1042
00:49:03,640 --> 00:49:05,640
Speaker 2: yak about doing something about this. I just worry that

1043
00:49:05,719 --> 00:49:06,320
Speaker 2: nothing's happening.

1044
00:49:07,080 --> 00:49:09,680
Speaker 14: I kind of think, you know, there's three forms of efficiency.

1045
00:49:09,719 --> 00:49:12,600
Speaker 14: The first one is cost efficiency, and so you know,

1046
00:49:12,800 --> 00:49:14,440
Speaker 14: just just trying to do the same thing cheaper and

1047
00:49:14,560 --> 00:49:18,799
Speaker 14: cheaper will get you some way only but it still

1048
00:49:18,840 --> 00:49:20,880
Speaker 14: needs to be passed on. The other one is allocated

1049
00:49:20,960 --> 00:49:23,520
Speaker 14: efficiency and lending to the right people and at the

1050
00:49:23,640 --> 00:49:26,560
Speaker 14: right time. But the real one that's missing amongst all

1051
00:49:26,560 --> 00:49:30,480
Speaker 14: this is dynamic efficiency, i e. You know, new technology,

1052
00:49:31,000 --> 00:49:33,280
Speaker 14: new ways of doing the same thing. I can quote

1053
00:49:33,360 --> 00:49:39,160
Speaker 14: several countries Brazil, in the Malaysia, Singapore, where the technology

1054
00:49:39,360 --> 00:49:42,239
Speaker 14: is at the leading edge. We are far behind it

1055
00:49:42,560 --> 00:49:46,239
Speaker 14: and trying to get people to focus on that I

1056
00:49:46,360 --> 00:49:48,440
Speaker 14: think will be the game changer.

1057
00:49:49,320 --> 00:49:52,120
Speaker 2: So well, yeah, it's all there.

1058
00:49:52,360 --> 00:49:53,160
Speaker 14: We don't have to reinvent.

1059
00:49:53,560 --> 00:49:55,719
Speaker 2: No good luck with it. The most depressing part about

1060
00:49:55,719 --> 00:49:58,239
Speaker 2: your press conference yesterday was when you started talking about

1061
00:49:58,280 --> 00:50:00,920
Speaker 2: fair value. So the currency gets to f value. If

1062
00:50:01,000 --> 00:50:03,200
Speaker 2: fair value is fifty seven US and forty five P

1063
00:50:03,400 --> 00:50:06,160
Speaker 2: what's that tell you about New Zealand economy in the country.

1064
00:50:07,400 --> 00:50:10,320
Speaker 14: Well, that's that's right, So you know it's you know,

1065
00:50:10,440 --> 00:50:13,560
Speaker 14: don't get too worried about comparing nominals, but fair value

1066
00:50:13,640 --> 00:50:15,680
Speaker 14: is something where you know, the price of beer in

1067
00:50:15,719 --> 00:50:18,279
Speaker 14: one country equals the price of beer in another once

1068
00:50:18,320 --> 00:50:21,520
Speaker 14: you've a jaint adjusted for the exchange rate, and so

1069
00:50:21,640 --> 00:50:23,560
Speaker 14: it's a nominal against nominal type thing.

1070
00:50:24,040 --> 00:50:24,200
Speaker 7: You know.

1071
00:50:24,280 --> 00:50:26,400
Speaker 14: The most depressing thing amongst all of this is that

1072
00:50:26,600 --> 00:50:29,320
Speaker 14: we're talking about economic growth picking up, but you know

1073
00:50:29,440 --> 00:50:31,800
Speaker 14: that's to two and a half percent, so you know

1074
00:50:31,920 --> 00:50:36,400
Speaker 14: that's threshing threshing the debts and as fast as we can.

1075
00:50:36,520 --> 00:50:37,839
Speaker 14: You know, we need to upgrade the vehicle.

1076
00:50:38,040 --> 00:50:40,440
Speaker 2: You in your cars. So yesterday it was Reno. You

1077
00:50:40,520 --> 00:50:42,799
Speaker 2: only get a good Reno on the third recall. Are

1078
00:50:42,840 --> 00:50:44,640
Speaker 2: you like a car expert? Is it true you only

1079
00:50:44,680 --> 00:50:46,399
Speaker 2: get a good Reno on the third recall or you're

1080
00:50:46,440 --> 00:50:47,160
Speaker 2: just making that up?

1081
00:50:48,040 --> 00:50:51,160
Speaker 14: I loved that quote. I lived in transfer, isn't that

1082
00:50:51,360 --> 00:50:54,839
Speaker 14: was the advice I received. The best vehicle to ever

1083
00:50:54,920 --> 00:50:57,040
Speaker 14: buy is the Reno after its third recall.

1084
00:50:58,840 --> 00:51:01,320
Speaker 2: So that this comes to this comes to the business

1085
00:51:01,520 --> 00:51:05,080
Speaker 2: of productivity, which I don't know that we're ever going

1086
00:51:05,160 --> 00:51:07,600
Speaker 2: to tackle properly because we understand on a piece of

1087
00:51:07,640 --> 00:51:10,279
Speaker 2: paper what productivity might be, yet when it's useless at

1088
00:51:10,320 --> 00:51:14,680
Speaker 2: it what fundamentally needs to change For that to change.

1089
00:51:16,920 --> 00:51:23,040
Speaker 14: We need investment in technology and people, capability and competence,

1090
00:51:23,640 --> 00:51:25,880
Speaker 14: and we tend to just do the opposite. We just

1091
00:51:26,080 --> 00:51:29,279
Speaker 14: like find doing the same thing slightly cheaper or just

1092
00:51:29,560 --> 00:51:33,480
Speaker 14: applying more people. So generally the economic growth has seen

1093
00:51:33,560 --> 00:51:36,520
Speaker 14: over decades now has been about more people coming into

1094
00:51:36,560 --> 00:51:39,960
Speaker 14: the country, so more inputs are the same things slightly better.

1095
00:51:40,400 --> 00:51:45,000
Speaker 14: It's investment in technology and capability. The government needs to

1096
00:51:45,040 --> 00:51:50,080
Speaker 14: be courageous and be part of that investment. So infrastructure

1097
00:51:50,320 --> 00:51:54,640
Speaker 14: enabling enabling or allowing and enabling investment to occur.

1098
00:51:54,800 --> 00:51:57,440
Speaker 2: Okay, I know the different scenarios. I get it. But

1099
00:51:57,719 --> 00:52:00,600
Speaker 2: we're seeing you're seeing some inflation coming in this country

1100
00:52:00,719 --> 00:52:03,719
Speaker 2: this year. Britain's seeing it, America is seeing it. They've

1101
00:52:03,760 --> 00:52:05,919
Speaker 2: got more of a backstop and being able to deal

1102
00:52:06,000 --> 00:52:08,719
Speaker 2: with it. Do we face, if you're a bit wrong,

1103
00:52:09,480 --> 00:52:12,800
Speaker 2: stagflation in other words, more inflation, not a lot of growth,

1104
00:52:13,040 --> 00:52:14,520
Speaker 2: and we're running out of tricks.

1105
00:52:17,000 --> 00:52:22,200
Speaker 14: Yes, you know, under that scenario, if we get significant

1106
00:52:22,239 --> 00:52:24,759
Speaker 14: global inflation come back again, we're going to wear it.

1107
00:52:26,800 --> 00:52:28,960
Speaker 14: Monetary policy will do its job. It's not going to

1108
00:52:29,080 --> 00:52:32,840
Speaker 14: turn into domestic inflation. We'll be targeting one to three percent.

1109
00:52:33,520 --> 00:52:37,520
Speaker 14: Inflation has come down, we're feeling very confident that it

1110
00:52:37,680 --> 00:52:41,719
Speaker 14: is contained, but it's around a low potential growth rate.

1111
00:52:42,160 --> 00:52:45,560
Speaker 2: So a lot of people texted me, you know, my

1112
00:52:45,640 --> 00:52:47,359
Speaker 2: feelings about what you've been doing over the last couple

1113
00:52:47,360 --> 00:52:49,719
Speaker 2: of years, But a lot of people text me about

1114
00:52:49,719 --> 00:52:51,080
Speaker 2: the number of people who have left the country, and

1115
00:52:51,120 --> 00:52:55,680
Speaker 2: you talk about immigration. Do you carry any responsibility do

1116
00:52:55,800 --> 00:52:57,560
Speaker 2: you think for the number of people who are packed

1117
00:52:57,640 --> 00:53:00,239
Speaker 2: up and left because we're buggered, and.

1118
00:53:00,320 --> 00:53:07,160
Speaker 14: You buy monetary policy. We focus on low and stable inflation.

1119
00:53:07,400 --> 00:53:11,200
Speaker 14: That's all we can provide. Monetary policy is neutral in

1120
00:53:11,280 --> 00:53:14,399
Speaker 14: the long run on the effect on growth or where

1121
00:53:14,440 --> 00:53:16,880
Speaker 14: people choose to live or not. What we can do

1122
00:53:17,120 --> 00:53:19,279
Speaker 14: is issue notes and coins, and we want to make

1123
00:53:19,960 --> 00:53:22,560
Speaker 14: the purchasing value of that broadly stable with the New

1124
00:53:22,680 --> 00:53:24,120
Speaker 14: Zealand and that is our job.

1125
00:53:25,520 --> 00:53:28,040
Speaker 2: By the time I interview we've achieved it. Sure, exactly.

1126
00:53:28,120 --> 00:53:29,920
Speaker 2: So by the time I interview you next, which is

1127
00:53:29,960 --> 00:53:31,720
Speaker 2: in a couple of months, another couple of twenty fives,

1128
00:53:31,719 --> 00:53:34,120
Speaker 2: a thing going to We're about done, aren't we. It

1129
00:53:34,200 --> 00:53:36,080
Speaker 2: gets boring after that in theory.

1130
00:53:37,280 --> 00:53:40,000
Speaker 14: Yeah, which is great. You know, central bank should be boring.

1131
00:53:40,560 --> 00:53:41,640
Speaker 14: That's why they chose me.

1132
00:53:43,040 --> 00:53:43,600
Speaker 7: You've got.

1133
00:53:45,080 --> 00:53:49,000
Speaker 14: We think a neutral interest rate is around three three

1134
00:53:49,040 --> 00:53:50,759
Speaker 14: and a half percent. We're not too far off it now.

1135
00:53:51,200 --> 00:53:54,600
Speaker 14: So why is that good news? That means we'll have

1136
00:53:54,719 --> 00:53:57,480
Speaker 14: stable nominal interest rates, will have low and stable inflation,

1137
00:53:57,960 --> 00:54:02,120
Speaker 14: will have employment growing, will have we have GDP growth

1138
00:54:03,120 --> 00:54:06,279
Speaker 14: you know, will be will it be big long term

1139
00:54:07,480 --> 00:54:10,040
Speaker 14: strong growth? Well, it's only going to be a functional

1140
00:54:10,040 --> 00:54:11,200
Speaker 14: of how we.

1141
00:54:11,239 --> 00:54:13,320
Speaker 2: Are all right, appreciate your time as always. Adrian Or,

1142
00:54:13,360 --> 00:54:15,400
Speaker 2: the Reserve Bank Governor seven forty five.

1143
00:54:16,480 --> 00:54:20,920
Speaker 1: The Vike Asking Breakfast Full Show podcast on iHeartRadio powered

1144
00:54:21,000 --> 00:54:21,520
Speaker 1: by News.

1145
00:54:21,440 --> 00:54:21,960
Speaker 8: Talks at BE.

1146
00:54:23,440 --> 00:54:25,680
Speaker 2: Mike is talking, since we can't keep relying on tourism

1147
00:54:25,760 --> 00:54:29,000
Speaker 2: and migration, we need to be progressive in innovation and technology.

1148
00:54:29,120 --> 00:54:31,200
Speaker 2: Luxen needs to start talking this way. Well, he is

1149
00:54:31,280 --> 00:54:33,120
Speaker 2: talking this way. The problem with lux and he's not

1150
00:54:33,200 --> 00:54:36,839
Speaker 2: acting this way. There's not enough unfolding literally in front

1151
00:54:36,880 --> 00:54:38,520
Speaker 2: of our eyes at the moment. Mike, your relationship with

1152
00:54:38,600 --> 00:54:40,800
Speaker 2: Adrian Or seems to have gone full circle. No, it hasn't.

1153
00:54:41,440 --> 00:54:44,200
Speaker 2: But I know why you're saying that. The business of

1154
00:54:44,360 --> 00:54:46,120
Speaker 2: what I think of what he did to this country

1155
00:54:46,320 --> 00:54:48,800
Speaker 2: is well documented, and he knows it's well documented, and

1156
00:54:48,880 --> 00:54:51,000
Speaker 2: he knows exactly what I think. But there's no point

1157
00:54:51,040 --> 00:54:54,080
Speaker 2: in relitigating that over and over again. We're dealing with

1158
00:54:54,200 --> 00:54:56,800
Speaker 2: specific circumstances in the here and now, and what he

1159
00:54:56,840 --> 00:54:59,640
Speaker 2: announced yesterday was interesting and worth exploring it every time

1160
00:54:59,719 --> 00:55:02,200
Speaker 2: we having Adrian on the program. I'm going to go now,

1161
00:55:02,520 --> 00:55:04,040
Speaker 2: let's go back to twenty twenty.

1162
00:55:04,120 --> 00:55:04,359
Speaker 8: Mate.

1163
00:55:05,280 --> 00:55:07,520
Speaker 2: It's going to make boring radio great interview Mike with

1164
00:55:07,680 --> 00:55:10,360
Speaker 2: or a generally surly character, and you tamed him a

1165
00:55:10,400 --> 00:55:13,160
Speaker 2: little and he revealed a lot of info. St tell

1166
00:55:13,200 --> 00:55:16,160
Speaker 2: that's the last Texter sow you God like to like

1167
00:55:16,239 --> 00:55:17,640
Speaker 2: to mix it up. You never know where you're at

1168
00:55:17,719 --> 00:55:20,680
Speaker 2: with me, Mike. I enjoyed the Renault quote. We're owners

1169
00:55:20,680 --> 00:55:23,320
Speaker 2: of a ninety seven, still have two lovely cars, reliable

1170
00:55:23,320 --> 00:55:27,640
Speaker 2: and comfortable, Reliable, aren't they really? Anyway? He had a

1171
00:55:27,719 --> 00:55:30,960
Speaker 2: hummer in the press conference yesterday, not literally, but he

1172
00:55:31,080 --> 00:55:32,960
Speaker 2: was saying it's a driving a hummer. Then he did

1173
00:55:33,040 --> 00:55:35,719
Speaker 2: a Ferrari. He did a dats in this morning, and

1174
00:55:35,840 --> 00:55:37,919
Speaker 2: the Renault one was my favorite as well. Michael, banks

1175
00:55:37,960 --> 00:55:40,719
Speaker 2: are charging excessive margins. Why aren't newcomers breaking down the

1176
00:55:40,760 --> 00:55:43,160
Speaker 2: doors to get a piece of the supposed lucrative lending market?

1177
00:55:43,239 --> 00:55:46,680
Speaker 2: Don very very good question, and I don't have an

1178
00:55:46,680 --> 00:55:48,839
Speaker 2: answer for it, and I can only put it down

1179
00:55:48,880 --> 00:55:52,520
Speaker 2: to our laziness, essentially, because Kiwi Bank was supposed to

1180
00:55:52,560 --> 00:55:55,040
Speaker 2: be the disruptor. Kiwi Bank was going to be the

1181
00:55:55,160 --> 00:55:57,560
Speaker 2: local little entity, the little bank that could, and we

1182
00:55:57,640 --> 00:55:59,719
Speaker 2: were all going to because we're so aggrieved and so

1183
00:56:00,040 --> 00:56:02,640
Speaker 2: upset about the Big four Australian banks that we were

1184
00:56:02,719 --> 00:56:05,160
Speaker 2: going to break their door down and go there and

1185
00:56:05,239 --> 00:56:07,200
Speaker 2: get our business and it was all going to be fantastic.

1186
00:56:07,320 --> 00:56:10,680
Speaker 2: Never happened. And essentially because we can't be bothered and

1187
00:56:10,880 --> 00:56:12,960
Speaker 2: things like open banking, the sort of tech that Adrian

1188
00:56:13,080 --> 00:56:15,160
Speaker 2: was talking about, things like open banking. I've read a

1189
00:56:15,200 --> 00:56:17,560
Speaker 2: lot about open banking that got open banking in Australia.

1190
00:56:17,600 --> 00:56:21,160
Speaker 2: It's not a panacea because although it's easier to change banks,

1191
00:56:21,160 --> 00:56:22,600
Speaker 2: if you don't want to change banks, he's still not

1192
00:56:22,680 --> 00:56:24,640
Speaker 2: going to change banks, no matter how easy it is.

1193
00:56:25,080 --> 00:56:27,239
Speaker 2: So there's plenty of competition in the market. And this

1194
00:56:27,280 --> 00:56:29,399
Speaker 2: is where I can't get my head around him because

1195
00:56:29,440 --> 00:56:33,239
Speaker 2: there is no excuse me, there's no question the local

1196
00:56:33,320 --> 00:56:35,799
Speaker 2: banks here are gouging. There's no question in my mind

1197
00:56:35,840 --> 00:56:40,520
Speaker 2: we are being ripped off none. And yet there is choice.

1198
00:56:40,920 --> 00:56:44,080
Speaker 2: There's about thirteen, fourteen, fifteen banks out there you can

1199
00:56:44,160 --> 00:56:46,920
Speaker 2: go to and borrow money from, and yet we choose

1200
00:56:47,040 --> 00:56:50,520
Speaker 2: not to. We choose to be gouged by the main players.

1201
00:56:51,120 --> 00:56:53,280
Speaker 2: Explain that to me. Nine Away from Ape.

1202
00:56:53,440 --> 00:56:57,960
Speaker 1: The mic Hosking Breakfast with Bailey's real Estate used TOGV.

1203
00:56:57,640 --> 00:57:00,160
Speaker 2: By count does Adrian or reach his financial decision on

1204
00:57:00,280 --> 00:57:02,680
Speaker 2: his own or with a consortium of financial experts from

1205
00:57:02,719 --> 00:57:05,440
Speaker 2: the government, banking and private sectors. Know he's got good

1206
00:57:05,520 --> 00:57:08,719
Speaker 2: question He's got a committee within the Reserve Bank and

1207
00:57:09,120 --> 00:57:10,800
Speaker 2: they sort of sit around and go what do you

1208
00:57:10,880 --> 00:57:14,680
Speaker 2: reckon and generally they come to a consensus. Some banks

1209
00:57:14,719 --> 00:57:17,000
Speaker 2: around the world have a vote and that vote is published.

1210
00:57:17,600 --> 00:57:19,200
Speaker 2: We just have a committee that has a yack and

1211
00:57:19,600 --> 00:57:21,800
Speaker 2: they tell you what they thought. Mike, idea for you

1212
00:57:21,920 --> 00:57:23,920
Speaker 2: go read Nick Mobray on X on his views on

1213
00:57:24,040 --> 00:57:25,880
Speaker 2: what the government should be doing. Very sensible. Get him

1214
00:57:25,880 --> 00:57:27,680
Speaker 2: on the show. Nick Browra's I've already done it. I've

1215
00:57:27,680 --> 00:57:29,880
Speaker 2: beaten you to it. Not necessarily on X because I'm

1216
00:57:29,880 --> 00:57:32,120
Speaker 2: not on Expert. Mobra has a lot to say for himself.

1217
00:57:32,440 --> 00:57:36,080
Speaker 2: He's the Zuru part of the Zuru family, orkandavec all

1218
00:57:36,080 --> 00:57:38,160
Speaker 2: that sort of stuff. But he's got a lot of

1219
00:57:38,160 --> 00:57:41,439
Speaker 2: good ideas. He's a very successful person, and successful people

1220
00:57:41,520 --> 00:57:43,560
Speaker 2: need to be listened to more in this country. He

1221
00:57:43,840 --> 00:57:46,720
Speaker 2: is of the spectrum of basically what I hear a

1222
00:57:46,840 --> 00:57:49,280
Speaker 2: lot of from the private sector. And this is where

1223
00:57:49,360 --> 00:57:52,120
Speaker 2: Luction's in some pole trouble. They would have blun they

1224
00:57:52,160 --> 00:57:54,760
Speaker 2: would have doged it they would have Elon musked it.

1225
00:57:55,560 --> 00:57:58,800
Speaker 2: So and what Luxlin's doing is not quite where they're at.

1226
00:57:59,600 --> 00:58:01,640
Speaker 2: As for yesterday at the F one, if you haven't

1227
00:58:01,680 --> 00:58:04,800
Speaker 2: watched it, watch it, I mean what a brilliant show. Essentially,

1228
00:58:04,920 --> 00:58:06,840
Speaker 2: just think about this. All they were doing was revealing

1229
00:58:06,880 --> 00:58:09,920
Speaker 2: their liveries. So a car comes out in the stage.

1230
00:58:09,920 --> 00:58:12,160
Speaker 2: So just for it's like a runway, big runway. Osho

1231
00:58:12,200 --> 00:58:14,520
Speaker 2: Arena had tens of thousands of people there paid to

1232
00:58:14,560 --> 00:58:16,080
Speaker 2: go see it. That shows you how big F one

1233
00:58:16,160 --> 00:58:21,640
Speaker 2: is these days. Big show. Caine Brown was there, Whitehead

1234
00:58:21,760 --> 00:58:25,360
Speaker 2: was hosting, and so you have a big runway. Each

1235
00:58:25,480 --> 00:58:27,680
Speaker 2: car comes out, one after the other. Some of them

1236
00:58:27,720 --> 00:58:31,160
Speaker 2: made films. Aston Martin made a brilliant film, like a

1237
00:58:31,360 --> 00:58:35,760
Speaker 2: really really clever film. Red Bull did what they did,

1238
00:58:35,840 --> 00:58:39,240
Speaker 2: a car culture type film that was quite cool, recognizing

1239
00:58:39,280 --> 00:58:42,880
Speaker 2: people's love of cars. That was nice. And they each

1240
00:58:42,960 --> 00:58:45,560
Speaker 2: did their individual thing and introduced themselves in different ways.

1241
00:58:45,640 --> 00:58:47,800
Speaker 2: And then the principal and the two drivers came on stage.

1242
00:58:48,040 --> 00:58:50,400
Speaker 2: They had a very brief chat. Look at the car.

1243
00:58:50,800 --> 00:58:53,800
Speaker 2: You're excited for the season, yadda YadA YadA. Liam, of course,

1244
00:58:53,840 --> 00:58:56,560
Speaker 2: what made it really special? And there's a you should

1245
00:58:56,600 --> 00:58:58,480
Speaker 2: look this up as well. At the end of the

1246
00:58:58,560 --> 00:59:03,160
Speaker 2: Red Bull video about culture, dozens of people come on

1247
00:59:03,520 --> 00:59:06,920
Speaker 2: and the music's pumping and the vibers there and they

1248
00:59:07,080 --> 00:59:09,960
Speaker 2: walk on with these and Liam's there and Max is

1249
00:59:10,000 --> 00:59:13,600
Speaker 2: there and it's that that moment surely that you think

1250
00:59:13,720 --> 00:59:15,560
Speaker 2: I've arrived. I'm in the big time. This is the

1251
00:59:15,640 --> 00:59:17,400
Speaker 2: real deal. Because it's all very well doing the odd

1252
00:59:17,440 --> 00:59:19,240
Speaker 2: interview and you know, doing a bit of practice around

1253
00:59:19,280 --> 00:59:20,520
Speaker 2: the track and stuff. But when you're in front of

1254
00:59:20,520 --> 00:59:22,800
Speaker 2: tens of thousands of people and this is the launch

1255
00:59:22,840 --> 00:59:25,080
Speaker 2: of your car and it is your car this season,

1256
00:59:25,160 --> 00:59:27,680
Speaker 2: that was fantastic. So they got a good reception. Christian

1257
00:59:27,720 --> 00:59:30,640
Speaker 2: Horner got booed, which tells you something about Christian Horner.

1258
00:59:31,400 --> 00:59:35,400
Speaker 2: The biggest reception George because he's British, Olie Beharman because

1259
00:59:35,440 --> 00:59:39,040
Speaker 2: he's British. But the biggest the Lewis Hamilton. There is

1260
00:59:39,120 --> 00:59:42,560
Speaker 2: something about Lewis Hamilton. They cannot get enough of him.

1261
00:59:42,600 --> 00:59:46,800
Speaker 2: He is godlike and when he came on they went off.

1262
00:59:47,040 --> 00:59:49,720
Speaker 2: So all in all, as a show, it was fantastic

1263
00:59:49,800 --> 00:59:52,280
Speaker 2: to watch. How did dig New Zealand out of a hole?

1264
00:59:52,400 --> 00:59:54,360
Speaker 2: Let's get some advice after the News, which is.

1265
00:59:54,400 --> 00:59:58,600
Speaker 1: Next setting the agenda and talking the big issues. The

1266
00:59:58,840 --> 01:00:02,640
Speaker 1: Mike Honking breakfast with Bailey's real Estate, finding the buyers

1267
01:00:02,840 --> 01:00:04,320
Speaker 1: others can't use toks dead b.

1268
01:00:09,400 --> 01:00:11,160
Speaker 2: There are seven past days, and then try to be

1269
01:00:11,200 --> 01:00:13,720
Speaker 2: an hour into what this country could be. The government

1270
01:00:13,760 --> 01:00:15,320
Speaker 2: talks a lot about growth. Of course, we talk a

1271
01:00:15,320 --> 01:00:18,360
Speaker 2: lot about productivity. What we talk about though and what

1272
01:00:18,480 --> 01:00:20,280
Speaker 2: has been real or two very different pleas as we

1273
01:00:20,400 --> 01:00:22,360
Speaker 2: were mentioning with Adrien or a couple of moments ago.

1274
01:00:22,440 --> 01:00:25,560
Speaker 2: So what do we need for success? How do we

1275
01:00:25,680 --> 01:00:28,480
Speaker 2: grow companies? Can we start and grow large successful companies?

1276
01:00:28,560 --> 01:00:31,400
Speaker 2: Rohan Simpson was one of the founding members and investors

1277
01:00:31,440 --> 01:00:34,000
Speaker 2: and trade Me and Zero. His new book is out Money.

1278
01:00:34,000 --> 01:00:37,520
Speaker 2: It's called How to Be Wrong, and so presumably uniquely

1279
01:00:37,560 --> 01:00:39,560
Speaker 2: placed to give us a little bit of advice this morning.

1280
01:00:39,880 --> 01:00:42,400
Speaker 2: Rowan currently is chair of what's called the Hoku Group,

1281
01:00:42,480 --> 01:00:44,479
Speaker 2: which I will explain in a moment. Anyway, run Simson

1282
01:00:44,520 --> 01:00:47,600
Speaker 2: with us, Ryan morning, Hey Mike, how are you very well? Indeed,

1283
01:00:47,640 --> 01:00:51,120
Speaker 2: so Hoku finds ideas. How many ideas are out there?

1284
01:00:51,800 --> 01:00:53,960
Speaker 2: And of those ideas that are out there, how many

1285
01:00:53,960 --> 01:00:55,560
Speaker 2: are nuts and how many are real?

1286
01:00:56,840 --> 01:00:57,000
Speaker 8: Well?

1287
01:00:57,240 --> 01:00:58,760
Speaker 15: Yeah, I mean there are lots, there are lots that

1288
01:00:58,800 --> 01:01:01,200
Speaker 15: are not investable, but more than enough for us to

1289
01:01:01,280 --> 01:01:04,680
Speaker 15: invest in that I have great potential, And you know

1290
01:01:04,960 --> 01:01:07,120
Speaker 15: I've written about four of those companies. There was a

1291
01:01:07,160 --> 01:01:08,840
Speaker 15: point in time where I thought I was an investor

1292
01:01:08,920 --> 01:01:10,800
Speaker 15: in most of the good companies in New Zealand, but

1293
01:01:11,200 --> 01:01:12,840
Speaker 15: that's certainly not true. Now there's hundreds.

1294
01:01:13,160 --> 01:01:16,040
Speaker 2: What's the gap between a good idea and making it work?

1295
01:01:17,800 --> 01:01:20,240
Speaker 15: Well, it's ultimately it comes down to people. For a

1296
01:01:20,320 --> 01:01:22,440
Speaker 15: long time, we've talked about there being a shortage of

1297
01:01:22,480 --> 01:01:25,840
Speaker 15: capital in New Zealand, and through that whole time, great

1298
01:01:25,880 --> 01:01:27,880
Speaker 15: companies have been out there raising tens of millions of

1299
01:01:27,920 --> 01:01:31,680
Speaker 15: dollars to grow. And you know, again the companies that

1300
01:01:31,720 --> 01:01:33,520
Speaker 15: I've written about a great examples of that, but there's

1301
01:01:33,560 --> 01:01:35,800
Speaker 15: many others. Hold Her as one that raised an eighty

1302
01:01:35,840 --> 01:01:38,720
Speaker 15: five million dollar around the time last year. So there's

1303
01:01:38,720 --> 01:01:40,720
Speaker 15: no shortage of capital. I think we need to get

1304
01:01:40,760 --> 01:01:43,240
Speaker 15: over that. What happened though with these companies as soon

1305
01:01:43,280 --> 01:01:45,400
Speaker 15: as they raise that capital, they then have to spend it,

1306
01:01:45,520 --> 01:01:47,440
Speaker 15: and they spending it on people, and that's what We're

1307
01:01:47,520 --> 01:01:49,680
Speaker 15: desperately short of. People who can work on and grow

1308
01:01:49,760 --> 01:01:50,919
Speaker 15: these companies and does.

1309
01:01:50,880 --> 01:01:53,160
Speaker 2: That at this present point in time make life even

1310
01:01:53,240 --> 01:01:55,560
Speaker 2: more difficult. My assessment of what's going on in this

1311
01:01:55,640 --> 01:01:57,880
Speaker 2: country is, you know, is well written and well understood,

1312
01:01:58,120 --> 01:02:01,560
Speaker 2: but the immigration story we don't seem to be as

1313
01:02:01,680 --> 01:02:03,760
Speaker 2: cool as we once were. Is that fear or not?

1314
01:02:04,560 --> 01:02:06,240
Speaker 15: I don't know if that is fear? To be honest,

1315
01:02:06,280 --> 01:02:08,840
Speaker 15: I think that you know, like New Zealand's reputation is

1316
01:02:09,680 --> 01:02:12,200
Speaker 15: probably as good as it has been amongst the engineers

1317
01:02:12,240 --> 01:02:13,880
Speaker 15: and the folks who we actually need to come and

1318
01:02:14,000 --> 01:02:16,840
Speaker 15: work and live in this company and make these companies great.

1319
01:02:17,280 --> 01:02:19,240
Speaker 15: I think one of the things that happens when we

1320
01:02:19,320 --> 01:02:21,760
Speaker 15: think about immigration is again we get distracted by capital.

1321
01:02:21,840 --> 01:02:25,160
Speaker 15: We think we need to attract wealthy people to bring

1322
01:02:25,240 --> 01:02:27,800
Speaker 15: their money here and invest here. And it's I don't know,

1323
01:02:27,880 --> 01:02:31,080
Speaker 15: it's a little bit like imagine mirror Fican Division three

1324
01:02:31,080 --> 01:02:32,680
Speaker 15: and rugby team and we just need to hire the

1325
01:02:32,760 --> 01:02:34,920
Speaker 15: next retired All Black to help us win a championship.

1326
01:02:35,320 --> 01:02:37,280
Speaker 15: You know, what we really need are the people who

1327
01:02:37,760 --> 01:02:39,680
Speaker 15: who want to come and live here and work here

1328
01:02:40,120 --> 01:02:42,040
Speaker 15: and do the hard that do the hard yards on them,

1329
01:02:42,080 --> 01:02:42,960
Speaker 15: helping these companies grow.

1330
01:02:43,080 --> 01:02:44,840
Speaker 2: Okay, and saying what you just said to you against

1331
01:02:44,840 --> 01:02:46,480
Speaker 2: what the government announced the other day, and that is

1332
01:02:46,520 --> 01:02:49,720
Speaker 2: to attract wealthy foreigners to come here with their money.

1333
01:02:49,720 --> 01:02:52,200
Speaker 15: I think it's fine. I know some of those folks

1334
01:02:52,240 --> 01:02:54,400
Speaker 15: and there's a few of them that really desperately do

1335
01:02:54,520 --> 01:02:56,560
Speaker 15: want to help the Zealand companies grow and that's great.

1336
01:02:56,720 --> 01:02:58,640
Speaker 15: But you know that's certainly not the silver bullets.

1337
01:02:59,080 --> 01:03:02,640
Speaker 2: Are you dealing with in general terms? Once again, I'm

1338
01:03:02,680 --> 01:03:05,200
Speaker 2: sort of looking at these things macro. So the country's

1339
01:03:05,240 --> 01:03:06,760
Speaker 2: got a whole lot of problems. A lot of kids

1340
01:03:06,800 --> 01:03:08,440
Speaker 2: don't turn up to school, those who do turn up

1341
01:03:08,440 --> 01:03:10,280
Speaker 2: to school, don't pass exams, all that sort of stuff

1342
01:03:10,280 --> 01:03:13,040
Speaker 2: we talk about regularly. Are you dealing with a microcosm

1343
01:03:13,120 --> 01:03:15,640
Speaker 2: of people within a population who are always going to

1344
01:03:15,680 --> 01:03:17,640
Speaker 2: be bright, always going to be achieved, is always going

1345
01:03:17,680 --> 01:03:19,360
Speaker 2: to be go getters, and those are the ones you're

1346
01:03:19,400 --> 01:03:20,760
Speaker 2: picking off? Is that what we're dealing with?

1347
01:03:21,480 --> 01:03:24,000
Speaker 15: I mean, there's an a rationality to starting a business

1348
01:03:24,120 --> 01:03:26,480
Speaker 15: like these companies that grow to become big. So you know,

1349
01:03:26,520 --> 01:03:29,280
Speaker 15: we're all lucky actually that the crazy founders of these

1350
01:03:29,280 --> 01:03:31,960
Speaker 15: companies are a little bit irrational because otherwise they wouldn't start.

1351
01:03:32,640 --> 01:03:34,800
Speaker 15: But it's a myth too that we just need those

1352
01:03:34,840 --> 01:03:38,120
Speaker 15: folks like every crazy Rodgery or Peter Bett needs to

1353
01:03:38,200 --> 01:03:40,400
Speaker 15: hire teams and then hundreds of people to help them

1354
01:03:40,440 --> 01:03:43,400
Speaker 15: grow those businesses. So yeah, ultimately we need to grow

1355
01:03:43,440 --> 01:03:46,320
Speaker 15: that pool much wider, and that all of those things

1356
01:03:46,360 --> 01:03:48,840
Speaker 15: you talk about investments and education and all those things feed.

1357
01:03:48,760 --> 01:03:53,240
Speaker 2: Into that is the money out there globally. Certainly it

1358
01:03:53,320 --> 01:03:55,680
Speaker 2: seems to me that if you've got some idea, especially

1359
01:03:55,680 --> 01:03:58,840
Speaker 2: around things like climate change, you can get money. Is

1360
01:03:58,880 --> 01:03:59,480
Speaker 2: that fair or not?

1361
01:04:00,160 --> 01:04:03,000
Speaker 15: The pool of capital for these companies is effectively infinite.

1362
01:04:03,040 --> 01:04:05,080
Speaker 15: Might you know there's now hundreds of millions of dollars

1363
01:04:05,120 --> 01:04:07,680
Speaker 15: of venture capital available for investment in New Zealand, there's

1364
01:04:07,720 --> 01:04:10,800
Speaker 15: billions of dollars of inch capital in Australia, So you know,

1365
01:04:10,880 --> 01:04:15,680
Speaker 15: like the constraint is certainly not around money for any

1366
01:04:15,680 --> 01:04:19,320
Speaker 15: of these folks. So yeah, I think you know, there's

1367
01:04:19,360 --> 01:04:22,000
Speaker 15: been there's been a lot of evidence of international investors

1368
01:04:22,120 --> 01:04:24,680
Speaker 15: been more than willing to invest in based companies.

1369
01:04:25,080 --> 01:04:28,160
Speaker 2: What is driving that? Is that a passion project for

1370
01:04:28,280 --> 01:04:31,800
Speaker 2: many people or is it I'm looking for good return?

1371
01:04:32,400 --> 01:04:35,120
Speaker 15: These folks are called venture capitalists, like they're looking for

1372
01:04:35,280 --> 01:04:37,840
Speaker 15: returns and you know, their job literally is to find

1373
01:04:37,840 --> 01:04:39,640
Speaker 15: the best companies in the world and to invest in them.

1374
01:04:39,680 --> 01:04:41,920
Speaker 15: And so the challenge for us in New Zealand is

1375
01:04:41,960 --> 01:04:45,960
Speaker 15: to be good enough, frankfully, to attract that investment. Are

1376
01:04:46,040 --> 01:04:49,520
Speaker 15: we well we are if you look at the you know, again,

1377
01:04:49,560 --> 01:04:51,400
Speaker 15: the companies I've written about have proven that we can

1378
01:04:51,480 --> 01:04:53,800
Speaker 15: grow these sorts of companies here. You know, Trade Me

1379
01:04:53,920 --> 01:04:55,840
Speaker 15: was a great domestic success, but there are in the

1380
01:04:55,960 --> 01:04:57,520
Speaker 15: end and Timely and the others that I've worked on

1381
01:04:57,520 --> 01:05:00,280
Speaker 15: an investment have all been global companies, and so so yeah,

1382
01:05:00,280 --> 01:05:02,320
Speaker 15: there's no question we can do it here. We just

1383
01:05:02,400 --> 01:05:04,240
Speaker 15: need to do it more in The question we should

1384
01:05:04,400 --> 01:05:06,160
Speaker 15: really be asking is what's the constraints to that.

1385
01:05:07,320 --> 01:05:09,160
Speaker 2: I'll ask that question in a moment. But before I

1386
01:05:09,280 --> 01:05:11,760
Speaker 2: forget trade Me, what I didn't understand about trade me

1387
01:05:11,840 --> 01:05:13,720
Speaker 2: when you were in there in the start. It eventually

1388
01:05:13,920 --> 01:05:17,480
Speaker 2: leaded lead to money that went up for a whole

1389
01:05:17,480 --> 01:05:20,720
Speaker 2: bunch of other startups. So it's very existence helped others.

1390
01:05:20,760 --> 01:05:22,800
Speaker 2: I don't know that many people would necessarily understand that,

1391
01:05:22,840 --> 01:05:23,880
Speaker 2: would they No.

1392
01:05:24,080 --> 01:05:26,360
Speaker 15: I mean, you know, we sold trade Me in two

1393
01:05:26,400 --> 01:05:28,320
Speaker 15: thousand and six, so it's a long time ago now

1394
01:05:28,520 --> 01:05:30,840
Speaker 15: that company was sold for seven hundred and fifty million dollars.

1395
01:05:30,920 --> 01:05:34,360
Speaker 15: That capital was all Australian money, was a Fairfax Australian

1396
01:05:34,480 --> 01:05:37,560
Speaker 15: media company that borders and the vast majority of that

1397
01:05:37,680 --> 01:05:40,200
Speaker 15: has been reinvested in in the next wave of the company.

1398
01:05:40,280 --> 01:05:42,800
Speaker 15: The only reason I was able to be an investor

1399
01:05:43,120 --> 01:05:45,960
Speaker 15: in Zero was because of that outcome. And each generation

1400
01:05:46,040 --> 01:05:47,400
Speaker 15: builds on there on the previous one.

1401
01:05:47,400 --> 01:05:49,720
Speaker 2: All right, so take us through the specifics. You saw

1402
01:05:49,960 --> 01:05:52,280
Speaker 2: what in trade me right at the very start, or

1403
01:05:52,320 --> 01:05:53,080
Speaker 2: you didn't quite know.

1404
01:05:53,920 --> 01:05:56,720
Speaker 15: I was actually hired originally as the engineer to help

1405
01:05:56,800 --> 01:05:59,840
Speaker 15: Sam and Jeff's sister who just hired to build the

1406
01:06:00,280 --> 01:06:02,120
Speaker 15: in the beginning, So you know, my route into that

1407
01:06:02,320 --> 01:06:06,320
Speaker 15: was as a software engineer really, and yeah, I mean

1408
01:06:06,360 --> 01:06:08,800
Speaker 15: we were we were crazy, like I was just describing.

1409
01:06:08,880 --> 01:06:11,880
Speaker 15: We thought we could create something from nothing and gave

1410
01:06:11,920 --> 01:06:13,080
Speaker 15: it a good crack and you did.

1411
01:06:13,240 --> 01:06:14,919
Speaker 2: Listen, we'll come back to Zero in just a moment.

1412
01:06:15,000 --> 01:06:17,000
Speaker 2: Ryan Simpson is our guest. How to Be Wrong is

1413
01:06:17,040 --> 01:06:18,880
Speaker 2: the book. It's out on Monday thirteen past eight.

1414
01:06:19,760 --> 01:06:24,320
Speaker 1: The Mic Asking Breakfast Full Show podcast on iHeartRadio powered

1415
01:06:24,400 --> 01:06:25,160
Speaker 1: by News Talks.

1416
01:06:25,200 --> 01:06:28,440
Speaker 2: It be You Talks. It'll be sixteen past eight How

1417
01:06:28,480 --> 01:06:31,680
Speaker 2: to Be Wrong. As the book Ryan Simpson is our guest. Ryan,

1418
01:06:31,720 --> 01:06:33,480
Speaker 2: you talk about barries before I get to zero, you

1419
01:06:33,520 --> 01:06:35,520
Speaker 2: talked about barriers a moment. What are the barriers?

1420
01:06:35,560 --> 01:06:36,320
Speaker 7: What do we need to do?

1421
01:06:37,600 --> 01:06:39,760
Speaker 15: Well, as I said to you earlier, as people really

1422
01:06:39,920 --> 01:06:42,040
Speaker 15: ultimately all the careful that's raised by these company in

1423
01:06:42,160 --> 01:06:45,080
Speaker 15: Scienon's galeries. So you know that's where we're desperately short.

1424
01:06:45,080 --> 01:06:47,360
Speaker 15: We're an underpopulated large set of islands.

1425
01:06:47,400 --> 01:06:50,360
Speaker 2: Yes, okay, and what do you do to change that?

1426
01:06:51,760 --> 01:06:54,680
Speaker 15: Well, I mean there's no single answer to that. There's

1427
01:06:54,680 --> 01:06:56,840
Speaker 15: certainly no silver bullet answer, but it's all the little

1428
01:06:56,880 --> 01:06:58,360
Speaker 15: things that add up. So you know, we need to

1429
01:06:58,400 --> 01:07:00,720
Speaker 15: train more people. If you look at the number of

1430
01:07:01,320 --> 01:07:05,360
Speaker 15: science graduates and engineers, especially in twenty twenty three, I

1431
01:07:05,360 --> 01:07:07,560
Speaker 15: think there are only five hundred and ninety engineers graduated

1432
01:07:07,560 --> 01:07:09,600
Speaker 15: in New Zealand. So you know, we're woefully short of

1433
01:07:10,360 --> 01:07:11,800
Speaker 15: that of the people we need in terms of the

1434
01:07:11,840 --> 01:07:14,280
Speaker 15: ones we train. And as we're talking about immigrations part

1435
01:07:14,320 --> 01:07:15,080
Speaker 15: of the solution too.

1436
01:07:15,160 --> 01:07:17,440
Speaker 2: Yeah, exactly. And so the engineer is just this very

1437
01:07:17,480 --> 01:07:19,080
Speaker 2: weekend or the beginning of the week said, there are

1438
01:07:19,160 --> 01:07:21,520
Speaker 2: engineers leaving the country left, right and center because there's

1439
01:07:21,520 --> 01:07:25,400
Speaker 2: no pipeline. I'm assuming somebody somewhere in Wellington who runs

1440
01:07:25,440 --> 01:07:27,040
Speaker 2: the place are aware of all of this or not.

1441
01:07:28,320 --> 01:07:30,800
Speaker 15: I'm sure they are. I mean, we've spent hundreds and

1442
01:07:30,920 --> 01:07:35,320
Speaker 15: hundreds of millions of dollars over the years on this problem, Mike.

1443
01:07:35,360 --> 01:07:36,800
Speaker 15: I mean, I've heard the text that you read out

1444
01:07:36,880 --> 01:07:39,200
Speaker 15: before sot of saying, you know, we need to invest

1445
01:07:39,320 --> 01:07:42,560
Speaker 15: in innovative businesses and move away from dairy and tourism.

1446
01:07:42,640 --> 01:07:44,400
Speaker 15: Like this is not a new idea. We've been talking

1447
01:07:44,440 --> 01:07:48,360
Speaker 15: about that for decades and decades, and yeah, unfortunately, all

1448
01:07:48,360 --> 01:07:50,280
Speaker 15: of that money that's been spent is a little bit

1449
01:07:50,360 --> 01:07:52,200
Speaker 15: like pouring petrol onto the roof of a car and

1450
01:07:52,280 --> 01:07:53,720
Speaker 15: hoping some of it ends up in the tank. There

1451
01:07:53,760 --> 01:07:57,360
Speaker 15: haven't really been much accountability or systems and feed back

1452
01:07:57,360 --> 01:07:59,240
Speaker 15: groups around that in terms of working out if it's

1453
01:07:59,280 --> 01:07:59,880
Speaker 15: actually working.

1454
01:08:00,680 --> 01:08:02,200
Speaker 2: So you come out and try me age a zero.

1455
01:08:02,320 --> 01:08:03,680
Speaker 2: Did zero seem obvious or not?

1456
01:08:05,040 --> 01:08:07,200
Speaker 15: I mean, it was an exciting potential, but it was

1457
01:08:07,640 --> 01:08:09,880
Speaker 15: far from obvious. I mean I started the book actually

1458
01:08:09,920 --> 01:08:12,280
Speaker 15: with the four stories near this moments. But these companies

1459
01:08:12,360 --> 01:08:15,480
Speaker 15: like it's very easy to retrospectively, look back when a

1460
01:08:15,520 --> 01:08:18,320
Speaker 15: company's a big success like Zero has become and imagine

1461
01:08:18,360 --> 01:08:21,320
Speaker 15: that it was always on that path. But that's not

1462
01:08:21,400 --> 01:08:23,479
Speaker 15: the experience of working in these companies day to day.

1463
01:08:23,600 --> 01:08:26,960
Speaker 15: Often the exact opposite. So yeah, I mean my time

1464
01:08:27,000 --> 01:08:30,519
Speaker 15: at Zero coincided with the IPO. We floated the company

1465
01:08:30,560 --> 01:08:32,479
Speaker 15: at a dollar per year. Some people may be odd

1466
01:08:32,560 --> 01:08:34,840
Speaker 15: enough to remember that, but for a long time after that,

1467
01:08:34,920 --> 01:08:37,600
Speaker 15: the year price was lower than a dollar. You know,

1468
01:08:37,680 --> 01:08:39,439
Speaker 15: if you did look at this company now, that's worth

1469
01:08:39,680 --> 01:08:42,760
Speaker 15: I think it's getting close to thirty billion Australian dollars now,

1470
01:08:43,880 --> 01:08:45,519
Speaker 15: but there was a long period of time where that

1471
01:08:45,600 --> 01:08:46,439
Speaker 15: ferminly wasn't obvious.

1472
01:08:46,680 --> 01:08:49,479
Speaker 2: You talk also about how much startup advice is dangerously wrong.

1473
01:08:50,360 --> 01:08:51,080
Speaker 2: Why is it wrong?

1474
01:08:51,800 --> 01:08:54,760
Speaker 15: Well, we wrapped a lot of mythology around startups, and

1475
01:08:54,880 --> 01:08:56,479
Speaker 15: I think part of it's what we were just talking about,

1476
01:08:56,560 --> 01:08:59,160
Speaker 15: Like a lot of it is retrospective. But what happens

1477
01:08:59,240 --> 01:09:02,040
Speaker 15: often is the the messy bits get kind of airbrushed

1478
01:09:02,040 --> 01:09:04,400
Speaker 15: out of the stories, and for me, those are the

1479
01:09:04,439 --> 01:09:07,160
Speaker 15: most interesting moments. Like, you know, the two moments you

1480
01:09:07,240 --> 01:09:09,160
Speaker 15: tend to hear about startups in the media is when

1481
01:09:09,200 --> 01:09:11,519
Speaker 15: they are when they started or when they raise capital,

1482
01:09:11,640 --> 01:09:13,800
Speaker 15: and then when that's sold, and those are kind of

1483
01:09:13,840 --> 01:09:16,000
Speaker 15: the book end, But all of the interesting stuff happens

1484
01:09:16,000 --> 01:09:18,240
Speaker 15: in the middle, and we're not so good at telling

1485
01:09:18,280 --> 01:09:20,960
Speaker 15: those stories, frankly. And yeah, it's part of the motivation

1486
01:09:21,040 --> 01:09:23,519
Speaker 15: in writing this book is to to kind of peel

1487
01:09:23,560 --> 01:09:25,360
Speaker 15: back those layers a little bit and describe what it's

1488
01:09:25,400 --> 01:09:25,960
Speaker 15: actually like.

1489
01:09:26,200 --> 01:09:27,840
Speaker 7: Good and yeah, hopefully.

1490
01:09:27,520 --> 01:09:29,679
Speaker 15: People who are working on these businesses are thinking about

1491
01:09:29,680 --> 01:09:31,439
Speaker 15: it and interested in it can get a bit of.

1492
01:09:31,479 --> 01:09:31,800
Speaker 13: Sense of that.

1493
01:09:32,520 --> 01:09:35,719
Speaker 2: When Tim Brown is mentioned in the book, he speaks

1494
01:09:35,840 --> 01:09:39,479
Speaker 2: very well of you, but I follow him with a

1495
01:09:39,479 --> 01:09:42,559
Speaker 2: great deal of interest. So he's an entrepreneurial New Zealander.

1496
01:09:42,920 --> 01:09:47,120
Speaker 2: All Birds does not work. It has not worked. It

1497
01:09:47,280 --> 01:09:51,640
Speaker 2: loses money. Will it? Do you think work or not?

1498
01:09:53,120 --> 01:09:55,320
Speaker 15: I mean, I'm not an investor in All Birds. I

1499
01:09:55,400 --> 01:09:59,160
Speaker 15: haven't followed the economic prospects of that company especially well,

1500
01:09:59,320 --> 01:10:00,960
Speaker 15: but you know, it's it is an example of a

1501
01:10:01,000 --> 01:10:03,400
Speaker 15: company that went through a through a big hype cycle,

1502
01:10:04,760 --> 01:10:06,720
Speaker 15: benefited a lot from that on the upside, and I

1503
01:10:06,800 --> 01:10:08,920
Speaker 15: guess I've been hurt from it, hurt by it on

1504
01:10:08,960 --> 01:10:11,680
Speaker 15: the downside. But you know of Tims of smart guy

1505
01:10:11,800 --> 01:10:14,960
Speaker 15: is a very patriotic newsand I have every confidence in

1506
01:10:15,040 --> 01:10:16,960
Speaker 15: him and how he thinks about the future. So what's

1507
01:10:17,000 --> 01:10:17,400
Speaker 15: the space.

1508
01:10:17,680 --> 01:10:20,280
Speaker 2: It's interesting, isn't it, because it's that old thing about

1509
01:10:20,360 --> 01:10:22,640
Speaker 2: to be a truly successful entrepreneur, you need to have

1510
01:10:22,720 --> 01:10:24,200
Speaker 2: filed a bunch of times. Is that true?

1511
01:10:24,840 --> 01:10:27,400
Speaker 15: Well, I think we do over glamorize failure a little bit.

1512
01:10:27,439 --> 01:10:29,920
Speaker 15: I've also worked on an invested in startups that have sailed,

1513
01:10:30,000 --> 01:10:32,040
Speaker 15: and I'll tell you it's really painful. I wouldn't. I

1514
01:10:32,080 --> 01:10:34,920
Speaker 15: wouldn't encourage anybody or a human that approach. I think

1515
01:10:35,000 --> 01:10:38,040
Speaker 15: a much smarter mindset, the one I write about is

1516
01:10:38,160 --> 01:10:41,200
Speaker 15: like lots of small little failures constantly every day. Like

1517
01:10:41,320 --> 01:10:43,360
Speaker 15: if you go in with the assumption that you're wrong

1518
01:10:44,160 --> 01:10:46,560
Speaker 15: and then and be constantly on the lookout for that,

1519
01:10:46,720 --> 01:10:49,360
Speaker 15: and you're much more likely to spot those areas and

1520
01:10:49,439 --> 01:10:52,400
Speaker 15: adjust for them and fix them before they hurt you. Yeah,

1521
01:10:52,520 --> 01:10:54,920
Speaker 15: And that's really a much much smarter way to think

1522
01:10:54,920 --> 01:10:55,240
Speaker 15: about it.

1523
01:10:55,800 --> 01:10:55,960
Speaker 8: Yeah.

1524
01:10:56,000 --> 01:10:58,920
Speaker 15: I mean the second part, which you are much more dangerous,

1525
01:10:58,960 --> 01:11:02,200
Speaker 15: is to lie like this a lot, especially unfortunately in

1526
01:11:02,280 --> 01:11:05,920
Speaker 15: the ecosystem where government invests. It's kind of uncomfortable to

1527
01:11:06,000 --> 01:11:08,519
Speaker 15: admit that you're wrong, and so it's easy to pretend

1528
01:11:08,600 --> 01:11:09,559
Speaker 15: that it's working even though you.

1529
01:11:09,640 --> 01:11:10,160
Speaker 13: Know that it's not.

1530
01:11:11,080 --> 01:11:13,759
Speaker 2: Do you have any answers around productivity just in general,

1531
01:11:13,800 --> 01:11:16,120
Speaker 2: this broad based conversation that we're no good at productivity

1532
01:11:16,160 --> 01:11:17,360
Speaker 2: in this country if you put it down on a

1533
01:11:17,400 --> 01:11:20,720
Speaker 2: piece of paper and explain the equation, but for whatever reason,

1534
01:11:20,800 --> 01:11:21,639
Speaker 2: we just don't do it well.

1535
01:11:22,400 --> 01:11:24,560
Speaker 15: I mean, I'm pretty simple, so I think about it

1536
01:11:24,680 --> 01:11:26,599
Speaker 15: just in terms of simple mass. When we sold trade

1537
01:11:26,640 --> 01:11:28,400
Speaker 15: Me in two thousand and six, there were fifty three

1538
01:11:28,439 --> 01:11:30,760
Speaker 15: of us working on that company. It was about six

1539
01:11:30,880 --> 01:11:34,880
Speaker 15: hundred thousand dollars of revenue per employee. So that's pretty

1540
01:11:34,920 --> 01:11:38,360
Speaker 15: remarkable in a New Zealand context. It's not really remarkable

1541
01:11:38,400 --> 01:11:41,920
Speaker 15: in a global tech context. You know, zero I think

1542
01:11:42,360 --> 01:11:44,599
Speaker 15: it's over two hundred thousand dollars per employee, and they

1543
01:11:44,640 --> 01:11:47,240
Speaker 15: have a lot more employees than we have. You know,

1544
01:11:47,280 --> 01:11:49,479
Speaker 15: they'll get probably closer to turnure in fifty thousand. We

1545
01:11:49,560 --> 01:11:52,360
Speaker 15: may announce the next results. So you know, we've proven

1546
01:11:52,439 --> 01:11:54,320
Speaker 15: we can build these sorts of companies in New Zealand.

1547
01:11:54,400 --> 01:11:57,200
Speaker 15: It's not a question of whether or not it's possible.

1548
01:11:57,280 --> 01:11:59,240
Speaker 15: It's just a question of scale, How do we do it?

1549
01:12:00,000 --> 01:12:00,880
Speaker 15: How do we do more of it?

1550
01:12:01,400 --> 01:12:03,360
Speaker 2: Fantastic Roan, good to meet and talk with. You appreciate

1551
01:12:03,400 --> 01:12:04,600
Speaker 2: it very much. Good luck with the book and I

1552
01:12:04,600 --> 01:12:06,400
Speaker 2: hope it's out there and people read the stories and

1553
01:12:06,640 --> 01:12:08,880
Speaker 2: learn something from them. How to Be Wrong is the book.

1554
01:12:09,400 --> 01:12:11,880
Speaker 2: Rowan Simpson is the author eight twenty.

1555
01:12:11,640 --> 01:12:16,440
Speaker 1: One The Mike Hosking Breakfast with our Veda Retirement Communities

1556
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Speaker 1: News togstead b.

1557
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Speaker 2: If you've tried the magnesium supplements in the past to

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01:12:20,040 --> 01:12:22,000
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1559
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Speaker 2: bit of an upset stomach. It didn't work as intended. Well,

1560
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Speaker 2: we've got some very good news. Not all magnesium supplements

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Speaker 2: are created equals. So this is where Element twelve from

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1563
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1569
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1570
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Speaker 2: very important to use that. Don't use code breakfast, don't

1571
01:12:57,360 --> 01:13:00,600
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Speaker 2: code breakfast and they'll send you an additional one month

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1574
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Speaker 2: month for value at forty nine ninety five. Read the label,

1575
01:13:08,280 --> 01:13:10,680
Speaker 2: take only as directed. Eight hundred triple nine three oh

1576
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Speaker 2: nine is the number and you can do it online

1577
01:13:13,120 --> 01:13:15,439
Speaker 2: if you like. Element twelve magnesia. Money from about health

1578
01:13:15,479 --> 01:13:19,519
Speaker 2: at about health dot co dot m z Pasky, my

1579
01:13:19,640 --> 01:13:21,760
Speaker 2: Gradham debut with Ryan I and vest with the VC

1580
01:13:21,880 --> 01:13:24,160
Speaker 2: industry and these young people give me hope for New Zealand.

1581
01:13:24,200 --> 01:13:27,680
Speaker 2: Please do more interviews with these fantastic young people. We will, Mike.

1582
01:13:27,760 --> 01:13:30,280
Speaker 2: My daughter qualifies as a lawyer soon plans to go

1583
01:13:30,360 --> 01:13:33,559
Speaker 2: to Australia. My son just started b comfinancial engineering. Plans

1584
01:13:33,600 --> 01:13:35,680
Speaker 2: to go to Australia. As they say, no pathway, no

1585
01:13:35,800 --> 01:13:36,479
Speaker 2: growth potential.

1586
01:13:36,720 --> 01:13:37,559
Speaker 8: See that, Jizu.

1587
01:13:38,040 --> 01:13:39,519
Speaker 2: If I can be a little bit blunt with you,

1588
01:13:40,120 --> 01:13:42,760
Speaker 2: that's a defeat of statitude. And I speak as a

1589
01:13:42,880 --> 01:13:45,720
Speaker 2: parent with a daughter in Melbourne probably never coming home,

1590
01:13:45,760 --> 01:13:48,120
Speaker 2: as I told you before she was on a pathway

1591
01:13:48,160 --> 01:13:51,679
Speaker 2: to go overseas. That's just her. It doesn't necessarily reflect

1592
01:13:51,720 --> 01:13:53,840
Speaker 2: badly on the country. It's just young people go. I

1593
01:13:54,000 --> 01:13:55,720
Speaker 2: don't think she'll be back. Could be wrong. Got a

1594
01:13:55,760 --> 01:13:57,800
Speaker 2: son who's in Edinburgh loving life, may or may not

1595
01:13:57,880 --> 01:13:59,640
Speaker 2: be back. Who would know. Got a daughter about to

1596
01:13:59,680 --> 01:14:02,880
Speaker 2: graduate med school going nowhere, going nowhere. I got another

1597
01:14:02,960 --> 01:14:05,959
Speaker 2: son going nowhere. So I think it's more about the individual.

1598
01:14:06,000 --> 01:14:08,799
Speaker 2: I don't think young people look and go this country stuffed.

1599
01:14:08,840 --> 01:14:11,200
Speaker 2: I mean, you've got a natural inclination as a young

1600
01:14:11,320 --> 01:14:15,639
Speaker 2: person from my experience, that they'll go. I wouldn't mind

1601
01:14:15,640 --> 01:14:17,760
Speaker 2: getting out there and having a crack at something. It's

1602
01:14:17,760 --> 01:14:19,719
Speaker 2: a big, wide world, and I don't think there's anything

1603
01:14:19,760 --> 01:14:22,760
Speaker 2: necessarily wrong with that. And it doesn't reflect directly on

1604
01:14:22,840 --> 01:14:24,640
Speaker 2: the country you come from. It just means there's a

1605
01:14:24,640 --> 01:14:26,240
Speaker 2: big wide world and you want to go explore it,

1606
01:14:26,320 --> 01:14:29,240
Speaker 2: and the chances are you'll return home. My brother spent

1607
01:14:29,320 --> 01:14:33,360
Speaker 2: many years overseas in Chicago and Singapore and in the

1608
01:14:33,400 --> 01:14:35,920
Speaker 2: Middle East, has come back home, as so many of

1609
01:14:36,000 --> 01:14:38,440
Speaker 2: them do. So I think it's more about individual circumstances

1610
01:14:38,520 --> 01:14:41,880
Speaker 2: than necessarily are the state of the country, although having

1611
01:14:42,040 --> 01:14:44,800
Speaker 2: said that their migration numbers in the last couple of

1612
01:14:44,840 --> 01:14:48,160
Speaker 2: months would probably indicate I may well be wrong whether

1613
01:14:48,760 --> 01:14:51,240
Speaker 2: and all sorts of other interesting things happening in Britain. Rod,

1614
01:14:51,280 --> 01:14:52,960
Speaker 2: Little is but moments away for you.

1615
01:14:54,760 --> 01:14:57,760
Speaker 1: The Breakfast Show, Kiwi's Trust to Stay in the Know,

1616
01:14:58,240 --> 01:15:02,599
Speaker 1: the Mike Hosking Breakfast with al Vida, Retirement, Communities, Life

1617
01:15:02,840 --> 01:15:03,960
Speaker 1: Your Way, News Togs.

1618
01:15:04,000 --> 01:15:07,080
Speaker 2: He'd be KFC. I ask you this very simple question. KFC,

1619
01:15:07,320 --> 01:15:10,320
Speaker 2: which are owned by young brands these days, announced yesterday

1620
01:15:10,360 --> 01:15:13,920
Speaker 2: they're leaving Kentucky. Can you have Kentucky Fried Chicken if

1621
01:15:14,000 --> 01:15:17,080
Speaker 2: you're no longer in Kentucky. They've been in Louisville, Kentucky forever.

1622
01:15:17,560 --> 01:15:20,479
Speaker 2: They're moving to Texas, obviously because of the taxes. Speaking

1623
01:15:20,520 --> 01:15:22,240
Speaker 2: of Texas, you need to earn a wage to pay

1624
01:15:22,320 --> 01:15:25,080
Speaker 2: your taxes. And some interesting data out this morning from

1625
01:15:25,160 --> 01:15:28,479
Speaker 2: trade Me on what we're earning. It's another record year,

1626
01:15:28,720 --> 01:15:30,599
Speaker 2: if you can believe it. More shortly twenty three.

1627
01:15:30,479 --> 01:15:34,920
Speaker 1: To nine International correspondence with Ends and Eye Insurance, Peace

1628
01:15:34,960 --> 01:15:36,720
Speaker 1: of Mind for New Zealand business.

1629
01:15:36,600 --> 01:15:37,320
Speaker 13: In the UK.

1630
01:15:37,520 --> 01:15:38,720
Speaker 2: Rod, a little very good morning to you.

1631
01:15:40,240 --> 01:15:41,280
Speaker 8: Good morning to you, mate.

1632
01:15:41,400 --> 01:15:44,000
Speaker 2: See I'm finding this whole thing fascinating in Europe. I

1633
01:15:44,120 --> 01:15:46,439
Speaker 2: watched that meeting the other day. They couldn't organize a

1634
01:15:46,840 --> 01:15:49,640
Speaker 2: piss up in a brewery that lot. Meantime, Trump and

1635
01:15:49,720 --> 01:15:53,200
Speaker 2: Labrath and Marca Rubio wandering around the world redesigning the

1636
01:15:53,240 --> 01:15:55,920
Speaker 2: whole planet. Where does this leave Britain.

1637
01:15:57,920 --> 01:16:02,000
Speaker 8: In a very awkward position. It's a strategically interesting position.

1638
01:16:02,360 --> 01:16:04,960
Speaker 8: I mean, you're absolutely right, and that the general filly

1639
01:16:05,040 --> 01:16:08,519
Speaker 8: over here, I think, particularly on the right obviously, is

1640
01:16:08,680 --> 01:16:12,080
Speaker 8: that JD. Vance was correct one hundred percent in his

1641
01:16:12,280 --> 01:16:17,120
Speaker 8: description of Europe and the European Union particularly, and that

1642
01:16:17,280 --> 01:16:19,320
Speaker 8: we need a wake up call. We all need to

1643
01:16:19,400 --> 01:16:23,240
Speaker 8: be doing more for our own defense rather than sponging

1644
01:16:23,280 --> 01:16:28,599
Speaker 8: off America. But that tone has changed with Donald Trump's

1645
01:16:28,680 --> 01:16:34,160
Speaker 8: rhetoric about Zelenski and Ukraine, and now he's playing into

1646
01:16:34,240 --> 01:16:36,479
Speaker 8: the lapse of quite a few people in Europe who

1647
01:16:36,640 --> 01:16:43,720
Speaker 8: do have mistrust Zelenski, you know, Hungary, Poland's, Slovakia or

1648
01:16:43,880 --> 01:16:47,880
Speaker 8: all have their doubts. But some of what he's been

1649
01:16:47,960 --> 01:16:51,519
Speaker 8: saying has been truly kind of have to say this

1650
01:16:51,600 --> 01:16:55,599
Speaker 8: about a US president deranged, which is that Ukraine started

1651
01:16:55,640 --> 01:17:00,559
Speaker 8: the war and that Ifsky doesn't want to watching. He's

1652
01:17:00,600 --> 01:17:04,759
Speaker 8: a dictator and his country will go soon. So suddenly

1653
01:17:04,920 --> 01:17:08,920
Speaker 8: poor Ukraine is facing both the US and the Russians,

1654
01:17:09,760 --> 01:17:14,719
Speaker 8: and David Lammie hasn't yet. He's our foreign secretary, Praise

1655
01:17:14,800 --> 01:17:17,920
Speaker 8: the Lord, hasn't yet come out and say anything about this.

1656
01:17:18,640 --> 01:17:21,720
Speaker 8: It is very difficult. I think there is room here

1657
01:17:21,800 --> 01:17:25,080
Speaker 8: for Britain to play a slightly mediating role. And Boris

1658
01:17:25,160 --> 01:17:28,240
Speaker 8: Johnson's already been crying about how Appaul and Trump is

1659
01:17:28,520 --> 01:17:35,080
Speaker 8: because of course Ukraine was Boris's project. It's a problem.

1660
01:17:35,160 --> 01:17:37,599
Speaker 8: I tell you where. It's a particular problem in Europe,

1661
01:17:37,600 --> 01:17:43,479
Speaker 8: and that's Germany, with elections coming up and parties on

1662
01:17:43,640 --> 01:17:48,240
Speaker 8: both the far left and the right all gaining, gaining

1663
01:17:48,680 --> 01:17:53,200
Speaker 8: huge amounts of votes, and arguing that basically the Trump

1664
01:17:53,320 --> 01:17:55,479
Speaker 8: is right on Ukraine.

1665
01:17:56,880 --> 01:17:57,920
Speaker 3: We are I hope we.

1666
01:17:58,320 --> 01:18:01,400
Speaker 8: Stick to a moral path. Yeah, and we have done

1667
01:18:01,479 --> 01:18:04,920
Speaker 8: so far, you know, and support Ukraine because we do

1668
01:18:05,120 --> 01:18:07,120
Speaker 8: not want Putin to come out of this winning.

1669
01:18:07,800 --> 01:18:10,960
Speaker 2: No, we do not. What I up until Trump's comments,

1670
01:18:11,040 --> 01:18:13,160
Speaker 2: what I had happening was there will be some sort

1671
01:18:13,200 --> 01:18:15,360
Speaker 2: I think I agree with Trump on the guarantee. So

1672
01:18:15,479 --> 01:18:18,240
Speaker 2: America's just funded that thing to the tune of hundreds

1673
01:18:18,240 --> 01:18:20,439
Speaker 2: of billions of dollars with no guarantee on it. So

1674
01:18:20,560 --> 01:18:22,799
Speaker 2: maybe they end up with some rare earths or some minerals,

1675
01:18:22,880 --> 01:18:25,040
Speaker 2: or whatever the case may be, so that in itself

1676
01:18:25,160 --> 01:18:30,080
Speaker 2: forms a guarantee that Ukraine want against Russia going further.

1677
01:18:30,200 --> 01:18:32,160
Speaker 2: Russia get the chunk of land they wanted in the

1678
01:18:32,240 --> 01:18:35,320
Speaker 2: first place. No, Ukraine doesn't earn NATO, but they get

1679
01:18:35,360 --> 01:18:37,280
Speaker 2: the guarantee they're not going to be invaded further. That's

1680
01:18:37,320 --> 01:18:38,600
Speaker 2: how I saw it coming. But then all of a

1681
01:18:38,640 --> 01:18:41,960
Speaker 2: sudden we get this. He's on four percent and he's

1682
01:18:42,040 --> 01:18:45,280
Speaker 2: a dictator, and I think, I just it's the whole

1683
01:18:45,320 --> 01:18:46,880
Speaker 2: thing seems to have in the last twenty four hours

1684
01:18:46,880 --> 01:18:47,280
Speaker 2: got ugly.

1685
01:18:48,800 --> 01:18:51,320
Speaker 8: It has got very ugly, and it also seems very

1686
01:18:51,479 --> 01:18:54,559
Speaker 8: cheap from Trump, who is of course punching down. Yeah,

1687
01:18:55,800 --> 01:18:59,599
Speaker 8: and you're absolutely right, there are sensible things on the table. Clearly.

1688
01:19:00,080 --> 01:19:01,439
Speaker 8: You know, if this war is going to come to

1689
01:19:01,520 --> 01:19:04,680
Speaker 8: an end, then someone is going to be annoyed, and

1690
01:19:04,760 --> 01:19:07,000
Speaker 8: it will probably be US in Ukraine rather than Russia.

1691
01:19:08,400 --> 01:19:14,000
Speaker 8: That is just real politics, isn't it. But yes, you're right,

1692
01:19:14,080 --> 01:19:16,600
Speaker 8: things have taken an ugly turn, and I think that

1693
01:19:16,680 --> 01:19:20,240
Speaker 8: has been noticed in London, which hasn't said much at

1694
01:19:20,320 --> 01:19:24,479
Speaker 8: all so far, partly because we're scared of Trump, partly

1695
01:19:24,520 --> 01:19:27,600
Speaker 8: because we want to protect our relationship with the Americans.

1696
01:19:28,400 --> 01:19:31,680
Speaker 8: But it's not unhelpful in a way that Britain can

1697
01:19:31,720 --> 01:19:34,240
Speaker 8: be seen to be a kind of mediator between the two.

1698
01:19:35,080 --> 01:19:36,840
Speaker 2: I'm no expert on your crime, but what I do

1699
01:19:36,960 --> 01:19:39,479
Speaker 2: remember in twenty nineteen is Zolensky won by a mile.

1700
01:19:39,560 --> 01:19:42,720
Speaker 2: It was Porishingko Vslinsky on the runoff anyone by a

1701
01:19:42,840 --> 01:19:45,160
Speaker 2: mile this four percent, I have no reason to believe

1702
01:19:45,200 --> 01:19:49,000
Speaker 2: that they held an election tomorrow Zelensky wouldn't win. Or

1703
01:19:49,040 --> 01:19:50,280
Speaker 2: am I completely out of touch?

1704
01:19:51,840 --> 01:19:54,920
Speaker 8: No, You're probably absolutely right, And I assume that Donald

1705
01:19:54,960 --> 01:19:58,479
Speaker 8: Trump has got his information from Pravta or somewhat similar.

1706
01:20:00,120 --> 01:20:04,920
Speaker 8: There is no doubt that Ukraine is by far, far

1707
01:20:05,040 --> 01:20:08,040
Speaker 8: and away the most corrupted European country. It is a

1708
01:20:08,120 --> 01:20:11,760
Speaker 8: corrupt economy, there is no question about that whatsoever. So

1709
01:20:11,840 --> 01:20:16,519
Speaker 8: Trump has a point there. But Silenski's popularity it has

1710
01:20:16,680 --> 01:20:22,280
Speaker 8: waned undoubtedly since its probable high point in I would

1711
01:20:22,439 --> 01:20:28,640
Speaker 8: guess mid twenty twenty two. But I still suspect that

1712
01:20:28,840 --> 01:20:31,120
Speaker 8: you know, he would win an election if one were

1713
01:20:31,160 --> 01:20:34,920
Speaker 8: called tomorrow. Trouble is, you know, elections in Ukraine are

1714
01:20:35,120 --> 01:20:38,720
Speaker 8: always fraught, and the European Union's played a very very

1715
01:20:38,960 --> 01:20:42,280
Speaker 8: dodgy role in them in the past. So it's a

1716
01:20:42,400 --> 01:20:46,479
Speaker 8: fascinating time and not a terribly I don't know, secure

1717
01:20:46,600 --> 01:20:48,439
Speaker 8: time if you're over here.

1718
01:20:49,160 --> 01:20:51,040
Speaker 2: Can't agree more. Speaking of which, I looked at your

1719
01:20:51,080 --> 01:20:54,080
Speaker 2: inflation read this morning, which was higher than everyone expected,

1720
01:20:54,600 --> 01:20:57,320
Speaker 2: which means if you've got inflation but no growth, they

1721
01:20:57,400 --> 01:20:59,680
Speaker 2: call that stagg flation, which is not good.

1722
01:20:59,760 --> 01:21:05,120
Speaker 8: Wrong, that's right, nothing's good, Nothing is good about our economy.

1723
01:21:05,520 --> 01:21:08,800
Speaker 8: That woman has wrecked the economy as surely, perhaps even

1724
01:21:08,880 --> 01:21:16,200
Speaker 8: more so than did kuzy Kuatan in that incredible budget

1725
01:21:16,240 --> 01:21:20,040
Speaker 8: of September twenty twenty two. She put up national insurance

1726
01:21:20,200 --> 01:21:22,479
Speaker 8: on companies, so they won't hire anyone more and they

1727
01:21:22,479 --> 01:21:25,120
Speaker 8: won't give anybody a pay rise. At the same point,

1728
01:21:25,240 --> 01:21:27,320
Speaker 8: inflation is going up, so we will have a cost

1729
01:21:27,360 --> 01:21:31,479
Speaker 8: of libion crisis again, and the economic growth is virtually dead.

1730
01:21:32,640 --> 01:21:37,439
Speaker 8: It was a disastrous budget. I think the government knows

1731
01:21:37,520 --> 01:21:41,280
Speaker 8: it was a disastrous budget. But so tightly is Reeves

1732
01:21:41,400 --> 01:21:44,080
Speaker 8: tied to start up that nothing will.

1733
01:21:43,960 --> 01:21:46,519
Speaker 2: Happen, correct, I was looking at the picture of the

1734
01:21:47,040 --> 01:21:49,080
Speaker 2: am I correct them, saying that the sinkhole and sorry,

1735
01:21:49,120 --> 01:21:51,120
Speaker 2: do you have a lot of sinkholes? I don't quite

1736
01:21:51,320 --> 01:21:53,000
Speaker 2: Britain with sinkholes for some reason.

1737
01:21:53,640 --> 01:21:57,519
Speaker 8: It's quite interesting. More and more, it's quite interesting for

1738
01:21:57,640 --> 01:22:00,920
Speaker 8: your expat listeners to hear that Surry will soon be

1739
01:22:01,320 --> 01:22:05,320
Speaker 8: enveloped and disappear into the bowels of the earth. Surry

1740
01:22:05,400 --> 01:22:09,840
Speaker 8: our most affluent county, of course, and there are two

1741
01:22:10,040 --> 01:22:14,280
Speaker 8: massive sinkholes there. We think they've been caused by nineteenth

1742
01:22:14,360 --> 01:22:18,719
Speaker 8: and eighteenth century tunnels for mining. But this is happening

1743
01:22:18,800 --> 01:22:21,280
Speaker 8: more and more often because we're building more and more houses.

1744
01:22:21,320 --> 01:22:25,080
Speaker 8: We're building these houses in places where previously people didn't

1745
01:22:25,080 --> 01:22:28,559
Speaker 8: build them for very good reason, and then six months

1746
01:22:28,640 --> 01:22:31,439
Speaker 8: later they either get washed away in floods because they're

1747
01:22:31,439 --> 01:22:33,759
Speaker 8: on a floodplain, or they sink into the earth.

1748
01:22:36,320 --> 01:22:38,640
Speaker 2: I'm looking at the headline today that UK is going

1749
01:22:38,720 --> 01:22:41,000
Speaker 2: to be warmer than Greece this week with temperatures as

1750
01:22:41,080 --> 01:22:44,200
Speaker 2: high as sixteen degrees. Does it feel spring like for uron?

1751
01:22:46,680 --> 01:22:49,680
Speaker 8: Not where I mate, it's zero degrees, it's snow on

1752
01:22:49,760 --> 01:22:54,960
Speaker 8: the ground and it's absolutely freezing. But we are told

1753
01:22:55,000 --> 01:22:59,479
Speaker 8: it's going to warm up tomorrow and you lot mus

1754
01:22:59,520 --> 01:23:03,280
Speaker 8: get those headlines every so often. You know that to

1755
01:23:03,520 --> 01:23:08,200
Speaker 8: Needed is hotter than Fiji. That's right, and it's true

1756
01:23:08,280 --> 01:23:14,040
Speaker 8: for about eight minutes one. That's about it. I will forward.

1757
01:23:14,080 --> 01:23:17,240
Speaker 8: I'll take anything. At the moment, I am so cold, mate.

1758
01:23:17,560 --> 01:23:19,360
Speaker 2: Go well, you have a good weekend. We'll catch up

1759
01:23:19,400 --> 01:23:21,000
Speaker 2: next Tuesday. Rod a little out of Britain for you.

1760
01:23:21,080 --> 01:23:22,120
Speaker 2: It's already eight forty five.

1761
01:23:24,080 --> 01:23:28,439
Speaker 1: The Like Asking Breakfast Fall Show podcast on iHeartRadio powered

1762
01:23:28,520 --> 01:23:29,520
Speaker 1: by News Talks.

1763
01:23:29,240 --> 01:23:29,479
Speaker 8: At b.

1764
01:23:30,960 --> 01:23:33,200
Speaker 2: Very interesting developments in the EV world. To come back

1765
01:23:33,200 --> 01:23:35,880
Speaker 2: to an amendment, but I promised you the business of pay. Firstly,

1766
01:23:36,040 --> 01:23:37,960
Speaker 2: bad news. Sir Brian Roch, who was on the program

1767
01:23:38,080 --> 01:23:41,720
Speaker 2: yesterday telling us how useless the public services he's announced

1768
01:23:41,760 --> 01:23:44,000
Speaker 2: this morning that automatic pay rises are under threaten. The

1769
01:23:44,000 --> 01:23:47,920
Speaker 2: public service chief executives sent a warning current remuneration structure

1770
01:23:47,960 --> 01:23:51,519
Speaker 2: was unaffordable. The fact that they are automatic is just

1771
01:23:52,840 --> 01:23:54,800
Speaker 2: for those of us out here in the real world

1772
01:23:54,880 --> 01:23:56,840
Speaker 2: who actually have to earn a living as opposed to

1773
01:23:56,840 --> 01:23:58,840
Speaker 2: it having it handed to us a little bit more

1774
01:23:58,920 --> 01:24:02,760
Speaker 2: every year. That's probably no bad thing anyway. So pay

1775
01:24:02,840 --> 01:24:05,120
Speaker 2: packets were at record levels last year. These are the

1776
01:24:05,160 --> 01:24:07,479
Speaker 2: stats out this morning. Last court of twenty twenty four,

1777
01:24:07,920 --> 01:24:12,720
Speaker 2: record salaries, fewer listings for jobs, big competition among prospective employees.

1778
01:24:13,200 --> 01:24:15,880
Speaker 2: Another record average salary seventy three thousand, three hundred and

1779
01:24:15,920 --> 01:24:17,840
Speaker 2: thirty two bucks, which is up one point three percent

1780
01:24:17,920 --> 01:24:21,320
Speaker 2: year on year. Record salaries in Auckland seventy six, Grand

1781
01:24:21,640 --> 01:24:25,040
Speaker 2: Bay twenty seventy two point six, Canterbury seventy two point one,

1782
01:24:25,080 --> 01:24:28,559
Speaker 2: Gisbon seventy three point nine, one or two seventy, Northland

1783
01:24:28,600 --> 01:24:31,639
Speaker 2: seventy one point six, Otigo seventy three point three, Southland

1784
01:24:31,640 --> 01:24:34,000
Speaker 2: seventy two point six, Taranaki seventy point eight and the

1785
01:24:34,000 --> 01:24:37,439
Speaker 2: Waycato seventy three point three. They're all records. Biggest actual

1786
01:24:37,520 --> 01:24:41,040
Speaker 2: increases West Coast three point eight percent, Gisbon three percent,

1787
01:24:41,120 --> 01:24:43,679
Speaker 2: why Caatto two and a half percent. Number of people

1788
01:24:43,720 --> 01:24:48,679
Speaker 2: applying for roles. Applications are up twenty percent per listing.

1789
01:24:49,280 --> 01:24:51,960
Speaker 2: Once again I asked the question, if you don't absolutely

1790
01:24:52,080 --> 01:24:56,160
Speaker 2: have to be anywhere geographically, and you can be elsewhere,

1791
01:24:57,040 --> 01:24:59,479
Speaker 2: why would you earn seventy six thousand dollars on average

1792
01:24:59,520 --> 01:25:02,599
Speaker 2: in Auckland when you can earn seventy two thousand dollars

1793
01:25:02,680 --> 01:25:07,000
Speaker 2: in Canterbury or seventy two thousand dollars in Southland, or

1794
01:25:07,040 --> 01:25:09,160
Speaker 2: seventy three thousand dollars in a Tigo and live a

1795
01:25:09,240 --> 01:25:13,200
Speaker 2: completely different life. Ten away from nine.

1796
01:25:13,600 --> 01:25:16,960
Speaker 3: The mic Hosking Breakfast with the range Rover of the

1797
01:25:17,040 --> 01:25:19,120
Speaker 3: LA News Togs dead b EV.

1798
01:25:19,040 --> 01:25:22,400
Speaker 2: News, Nicola or Nicola have filed for Chapter eleven bankruptcy.

1799
01:25:22,479 --> 01:25:25,639
Speaker 2: They just they did nothing but make electric cars and fuel,

1800
01:25:25,680 --> 01:25:28,600
Speaker 2: sell electric semitrucks and stuff, so they're in Chapter eleven bankruptcy.

1801
01:25:29,040 --> 01:25:30,720
Speaker 2: They tried to get some money known and give it

1802
01:25:30,800 --> 01:25:33,080
Speaker 2: to them, so that tells you something about the EV market. Meantime,

1803
01:25:33,160 --> 01:25:36,599
Speaker 2: Volkswagen and Audi they're reassessing their ANOUNCEDABA nite, reassessing their

1804
01:25:36,600 --> 01:25:39,960
Speaker 2: commitment to all electric. So last year of VW's electric

1805
01:25:40,000 --> 01:25:42,040
Speaker 2: sales are down two point seven percent. Audis a down

1806
01:25:42,120 --> 01:25:45,120
Speaker 2: seven point eight They make some more high end stuff.

1807
01:25:45,160 --> 01:25:50,120
Speaker 2: The high end electric market is oh Bark and Lucky

1808
01:25:50,200 --> 01:25:53,800
Speaker 2: Dog broad A. Volkswagen group down three point four percent

1809
01:25:54,000 --> 01:25:58,160
Speaker 2: for EV demand, so they're considering further investments in petrol.

1810
01:25:58,320 --> 01:25:59,559
Speaker 2: They think hybrid's a the way to go. I think

1811
01:25:59,600 --> 01:26:01,639
Speaker 2: we're all going including that now. The PHEB hybrid type

1812
01:26:01,640 --> 01:26:03,920
Speaker 2: model is the way to go. Previous commitments to phase

1813
01:26:03,920 --> 01:26:06,800
Speaker 2: out combustion engines by twenty thirty three in Europe not happening.

1814
01:26:07,160 --> 01:26:09,599
Speaker 2: BMW the other day said the V eight lives on forever,

1815
01:26:10,720 --> 01:26:12,120
Speaker 2: and praise the Lord for that. Then I come to

1816
01:26:12,200 --> 01:26:15,799
Speaker 2: my mate Harry Metcalfe, who does a thing called Harry's Garage,

1817
01:26:15,840 --> 01:26:17,720
Speaker 2: which is well worth watching. He did a piece and

1818
01:26:17,760 --> 01:26:20,120
Speaker 2: he's been around in the motoring industry in Britain for ever,

1819
01:26:20,800 --> 01:26:22,320
Speaker 2: and he did a sort of a history of where

1820
01:26:22,360 --> 01:26:24,120
Speaker 2: they're at in Britain. They're sort of catching up with

1821
01:26:24,240 --> 01:26:28,719
Speaker 2: us in the whole ev thing falls apart the value

1822
01:26:28,760 --> 01:26:30,960
Speaker 2: of your trade in as a dog. They're really going

1823
01:26:30,960 --> 01:26:33,120
Speaker 2: through difficult times in Britain at the moment. What I

1824
01:26:33,200 --> 01:26:37,400
Speaker 2: didn't understand was you remember diesel Gate that VW had.

1825
01:26:38,280 --> 01:26:41,519
Speaker 2: That all came out of the idea that VW wanted

1826
01:26:41,560 --> 01:26:44,400
Speaker 2: to get diesels into America, and so they put some

1827
01:26:44,520 --> 01:26:46,960
Speaker 2: gulfs in those sort of cars into America, and then

1828
01:26:47,000 --> 01:26:49,439
Speaker 2: California came along and went, well, the problem with diesel

1829
01:26:49,479 --> 01:26:51,760
Speaker 2: here is that it pollutes badly, and so we're not

1830
01:26:51,880 --> 01:26:54,720
Speaker 2: letting these cars into California, at which point, so we're

1831
01:26:54,720 --> 01:26:56,719
Speaker 2: going to make some rules around it, at which point

1832
01:26:56,800 --> 01:26:59,400
Speaker 2: they said, you've got to meet these criteria, at which

1833
01:26:59,439 --> 01:27:02,120
Speaker 2: point BW went back to Germany and tried to meet

1834
01:27:02,120 --> 01:27:04,120
Speaker 2: the criteria. Worked out they couldn't, so they started making

1835
01:27:04,160 --> 01:27:07,000
Speaker 2: up the numbers and at that point they got busted.

1836
01:27:07,040 --> 01:27:08,439
Speaker 2: And at that point they suddenly thought, well, what the

1837
01:27:08,479 --> 01:27:11,439
Speaker 2: hell's going on? Well, what about this Tesla guy. Tesler

1838
01:27:11,479 --> 01:27:13,519
Speaker 2: guy's doing all the electric stuff. If we can't make

1839
01:27:13,600 --> 01:27:17,160
Speaker 2: diesel that works, maybe we do electric. That's next thing.

1840
01:27:17,200 --> 01:27:19,920
Speaker 2: You know. Here we are twenty twenty five, so they've

1841
01:27:19,920 --> 01:27:22,320
Speaker 2: got huge problems in that particular part of the world

1842
01:27:22,360 --> 01:27:24,719
Speaker 2: as too well, but it's well worth. He explains it brilliantly,

1843
01:27:25,000 --> 01:27:26,840
Speaker 2: and it's well worth looking at the video. Look up

1844
01:27:27,000 --> 01:27:29,960
Speaker 2: Harry's garage and he'll tell you how it works. And

1845
01:27:30,000 --> 01:27:33,360
Speaker 2: he also reviews interesting cars as well. Five minutes Away

1846
01:27:33,400 --> 01:27:34,000
Speaker 2: from nine.

1847
01:27:34,360 --> 01:27:39,000
Speaker 3: Trending Now with Keim Squarehouse Stop paying too much And.

1848
01:27:39,040 --> 01:27:41,120
Speaker 2: If you don't like cars, how about phones. iPhone's done

1849
01:27:41,160 --> 01:27:43,720
Speaker 2: a new one this morning. We were expecting it. It

1850
01:27:43,840 --> 01:27:45,680
Speaker 2: was supposed to be the super cheap budget model. It

1851
01:27:45,760 --> 01:27:47,040
Speaker 2: was going to be some sort of new version of

1852
01:27:47,040 --> 01:27:50,600
Speaker 2: the se but instead Tim turned up and did this.

1853
01:27:51,120 --> 01:27:53,680
Speaker 3: This is iPhone sixteen.

1854
01:27:55,920 --> 01:28:00,960
Speaker 6: With our latest generation Apple Silicon break Through battery, an

1855
01:28:01,040 --> 01:28:04,960
Speaker 6: incredible high resolution two in one camera system, and the

1856
01:28:05,160 --> 01:28:09,880
Speaker 6: powerful features of iOS eighteen, all in a durable and

1857
01:28:10,080 --> 01:28:11,040
Speaker 6: beautiful design.

1858
01:28:11,720 --> 01:28:13,679
Speaker 2: I can tell you what having watched the F one launch.

1859
01:28:13,800 --> 01:28:16,560
Speaker 2: In that launch, the F one one wins by like

1860
01:28:16,640 --> 01:28:20,519
Speaker 2: a thousand miles. Same chip as the sixteen can do

1861
01:28:20,640 --> 01:28:25,719
Speaker 2: all the Apple Intelligent features, So that's exciting. The sixteen

1862
01:28:25,800 --> 01:28:29,160
Speaker 2: E no longer has a home button. You unlock it

1863
01:28:29,200 --> 01:28:32,679
Speaker 2: with your face. Now, Katie hates that. Katie's got an Apple.

1864
01:28:32,800 --> 01:28:35,280
Speaker 2: I don't have an apple. She's got an apple, She's

1865
01:28:35,320 --> 01:28:36,680
Speaker 2: not an E. I don't know what she's got. But

1866
01:28:36,760 --> 01:28:38,639
Speaker 2: whatever she's got, she can open it with a face

1867
01:28:39,240 --> 01:28:41,400
Speaker 2: and it doesn't work, and she hates it, and all

1868
01:28:41,439 --> 01:28:43,639
Speaker 2: she does is swear at it, and then she hits

1869
01:28:43,720 --> 01:28:45,640
Speaker 2: something else to open it up. Whatever that may be.

1870
01:28:46,160 --> 01:28:48,000
Speaker 2: Could it be the action button, because this one's got

1871
01:28:48,040 --> 01:28:50,680
Speaker 2: an action button. The E's got an action button, and

1872
01:28:50,800 --> 01:28:53,559
Speaker 2: when you hit it, action happens.

1873
01:28:55,560 --> 01:28:59,240
Speaker 1: It's a programmable shortcuts, so any number of things could

1874
01:28:59,280 --> 01:29:00,400
Speaker 1: happen if you had that.

1875
01:29:01,800 --> 01:29:03,719
Speaker 15: Has has Kate got the wrong face for phones?

1876
01:29:03,800 --> 01:29:04,680
Speaker 7: Is that what the problem is?

1877
01:29:05,240 --> 01:29:06,960
Speaker 2: See when you say that sort of stuff, and that's

1878
01:29:06,960 --> 01:29:08,439
Speaker 2: the sort of stuff I say, it doesn't go well

1879
01:29:08,479 --> 01:29:09,400
Speaker 2: for me in my marriage.

1880
01:29:11,320 --> 01:29:12,000
Speaker 15: That's why I'm here.

1881
01:29:12,160 --> 01:29:13,839
Speaker 3: I'm here to say the things that Mike cons.

1882
01:29:13,720 --> 01:29:15,160
Speaker 2: Then and then I have to back it up and say, no,

1883
01:29:15,280 --> 01:29:16,240
Speaker 2: you're too beautiful for it.

1884
01:29:16,320 --> 01:29:17,559
Speaker 8: It's just nice.

1885
01:29:17,880 --> 01:29:20,360
Speaker 2: That's a good line, good come back. Ah yeah. Pre

1886
01:29:20,560 --> 01:29:25,240
Speaker 2: Orders for the sixteen E available from Saturday, because why

1887
01:29:26,560 --> 01:29:28,479
Speaker 2: why don't you just tease a pre order, because like,

1888
01:29:28,600 --> 01:29:30,280
Speaker 2: we've got nothing better to do with our lives. And

1889
01:29:30,360 --> 01:29:31,720
Speaker 2: if you want to buy one of these? What was

1890
01:29:31,720 --> 01:29:33,559
Speaker 2: one who put out the triple fold the other day?

1891
01:29:33,760 --> 01:29:37,560
Speaker 2: Samsung Huawei. Yes, the Wiwai Triple Fold, three and a

1892
01:29:37,600 --> 01:29:40,720
Speaker 2: half grand Wywai triple Fold. It's three and a half

1893
01:29:40,760 --> 01:29:43,040
Speaker 2: thousand dollars. Well, I've got something for you with an

1894
01:29:43,040 --> 01:29:46,439
Speaker 2: action button. Sixteen E eleven hundred and ninety nine dollars.

1895
01:29:47,520 --> 01:29:51,160
Speaker 2: What cost of living crisis? Say that is us for

1896
01:29:51,240 --> 01:29:53,920
Speaker 2: the day, which brings us very very nicely to Friday.

1897
01:29:55,600 --> 01:29:58,840
Speaker 2: Full five days yep, your nose, full five days turning

1898
01:29:58,920 --> 01:30:01,439
Speaker 2: up no working from home for us, all five days

1899
01:30:01,680 --> 01:30:04,320
Speaker 2: back tomorrow morning, as always, Happy Days.

1900
01:30:06,400 --> 01:30:09,280
Speaker 1: For more from the mic Asking Breakfast, listen live to

1901
01:30:09,400 --> 01:30:12,439
Speaker 1: News Talks at B from six am weekdays, or follow

1902
01:30:12,520 --> 01:30:14,040
Speaker 1: the podcast on iHeartRadio