Speaker 1: You're listening to the Weekend Collective podcast from News Talks
Speaker 1: at Best Start Save for Things, Monyquee.
Speaker 2: Start sa F Things Do Monay cham starts say.
Speaker 3: It's past three.
Speaker 4: I'm Jess Davidson in for the Weekend Collective on the Saturday,
Speaker 4: the twenty fifth of January. Very soon we'll be joining
Speaker 4: the panel today. We have Brad Olsen and Shane to
Speaker 4: Poe who requested that very song to kick us off.
Speaker 3: Today.
Speaker 4: At four o'clock will have the one roof Property Hour,
Speaker 4: Ashley Church joining us for that and you'll talk about
Speaker 4: what makes a property valuable. From five o'clock we've got
Speaker 4: Midwife gray Son for the first time today and we'll
Speaker 4: talk parenting and also the recent increase an elective sea
Speaker 4: sections in New Zealand. So that is coming up on
Speaker 4: the remainder of the show for now, though, it is
Speaker 4: wonderful to say a good afternoon to our panelists. Firstly
Speaker 4: Brad Olson, chief Chief executive and principal economists at Informetrics.
Speaker 5: Hi, Brad, good afternoon, It's wonderful to be back.
Speaker 3: Yeare nice to be with you.
Speaker 4: And Shane Depoe who requested that beautiful piece of music.
Speaker 3: Commentator and blogger calda shade That's.
Speaker 6: A Sunny Day originally written from by the one and
Speaker 6: only Bruce Spinstein for Clarence Clemens.
Speaker 3: There you go, folks, Oh, there you go.
Speaker 4: Nice way to start things off. Will expect the caliber
Speaker 4: of music to stay the saying the show, Shane's a
Speaker 4: no pressure at all, ain't And of course Auckland Anniversary
Speaker 4: holiday on Monday.
Speaker 3: What are you both? What have you got planned for it?
Speaker 6: Well? I'm a sporting tragic and I'll be watching two
Speaker 6: great games I hope of American football, the Eagles versus
Speaker 6: Washington and in the afternoon the Chiefs versus the Bills.
Speaker 6: So I'm very pleased that those playoff games are happening
Speaker 6: on a public holiday.
Speaker 3: I would say so because that'll take about nine hours
Speaker 3: out of your day, wouldn't least at least?
Speaker 5: And what about you, brad Well, I'm actually Valentonium officially
Speaker 5: at least. And so apparently Wellington Anniversary was this previous Monday.
Speaker 5: And I say that because I went to the office
Speaker 5: early on Monday morning. I thought that it was a
Speaker 5: little bit quiet around But that's all right. It was
Speaker 5: early in the morning and a couple of hours later
Speaker 5: realized that it was a public holiday. So I'm also
Speaker 5: I'm working this Monday. I've got meetings and some ofilar
Speaker 5: coming up, but I'm trying to figure out what day
Speaker 5: I might take off in the future. So no rest
Speaker 5: of the wicked in the economy.
Speaker 6: Hey, can I ask a question, Brad, Don't you work
Speaker 6: for a national organizations? So couldn't you claim seven many
Speaker 6: different regional holidays?
Speaker 2: I don't know if that's how the law quite works.
Speaker 5: And to be fear, from a productivity point of view,
Speaker 5: if I claimed every regional holiday, I'd probably never do
Speaker 5: any work.
Speaker 3: Oh my goodness, gracious me.
Speaker 4: Well, we're going to talk about teachers and they get
Speaker 4: a rap for that, so we'll get to them, madjey course.
Speaker 4: But I want to start off with Donald Trump's second inauguration?
Speaker 4: Did you both watch it?
Speaker 3: Shane?
Speaker 6: Yes, I did it.
Speaker 2: How did you get through all of it? Like I
Speaker 2: watched all of it?
Speaker 6: I didn't get through all of it. My gosh, it
Speaker 6: wasn't that long ago. I lined up four hours to
Speaker 6: watch him in New York. No, I didn't. I didn't
Speaker 6: watch all of it. Look, I don't like the guy.
Speaker 6: I despise the guy, but I'm just being very careful
Speaker 6: over the next little while not to be just anti
Speaker 6: Trump for the sake of being anti Trump. It was
Speaker 6: it was theatrics. It was a little bit bizarre, and
Speaker 6: but you know what, he came out with a very
Speaker 6: strong range of policy position. A lot of it's I
Speaker 6: don't know if I can say bullshit, but a lot
Speaker 6: of it's published because he doesn't actually have the legal
Speaker 6: authority to enact it. It has to go through Congress.
Speaker 2: But they didn't stop him.
Speaker 6: But they didn't stop him, and it galvanizes his supporters,
Speaker 6: and he's got a few of.
Speaker 5: Them, indeed. I mean, I think for me, it was
Speaker 5: one of those things we're looking through. You know, he
Speaker 5: had a lot of action. What was more important was
Speaker 5: what he didn't do on an auguration day. We didn't
Speaker 5: see tariff's immediately leveled. I know that's what the economist
Speaker 5: is going to talk about, but like that, that's a
Speaker 5: big one.
Speaker 2: For New Zealand.
Speaker 5: If we see terrorists come through, if we see trade
Speaker 5: activity that's more difficult, like that has a very direct
Speaker 5: influence on us. So it was I think encouraging to
Speaker 5: see a little bit more restraint than we perhaps thought.
Speaker 5: But still the thing that gets me looking through one
Speaker 5: some of those announcements too, talking to businesses and households,
Speaker 5: is just this level of uncertainty because we don't know
Speaker 5: what he's going to do at any given moment, we
Speaker 5: don't know how he's going to react, so all a
Speaker 5: little bit of a big question coming through. What was
Speaker 5: more impressive was that the new Sectory of State, Marc Rubio,
Speaker 5: got sworn in immediately, and I think he's even had
Speaker 5: a call with Winston Peters straight away, so like, at
Speaker 5: least we're on the radar pretty quick, which is encouraging.
Speaker 4: Yeah, it looks like a new ambassador has been appointed
Speaker 4: today as well. But what I found intriguing was that
Speaker 4: he didn't rest on his laurels. He was straight into
Speaker 4: the office signing orders, including that very controversial one to
Speaker 4: release the fifteen hundred protesters from January sixth.
Speaker 6: Yeah the insigence. Yeah.
Speaker 5: Well and then I mean it's one of those things
Speaker 5: as well. Again and did he said all along he
Speaker 5: was going to do that, So it came through pretty quickly.
Speaker 5: There seems to be a lot that I still don't
Speaker 5: quite understand it. I don't know if the American system
Speaker 5: quite understands with the number of pardons and commutations and
Speaker 5: that that came through I mean Biden the day before
Speaker 5: he left office, you know, pardoned or retrospectively or productively pardoned. Yeah,
Speaker 5: all of his family, you know, and then you had
Speaker 5: these fifteen hundred you know that that got pardoned and released.
Speaker 5: It's sort of the worry here is that everything in
Speaker 5: the US has become so politicized and chaotic.
Speaker 6: The big pardon was the guy behind the Silk Road.
Speaker 6: This was.
Speaker 2: It was like that black market online.
Speaker 6: No, no, but this was a guy that actually directed
Speaker 6: to murders. But he got caught up with the FBI
Speaker 6: agent and he actually participated in the transaction. He just
Speaker 6: didn't known the infrastructure. He actually participated, inn't it. And
Speaker 6: I think he had three life sentences and he's body
Speaker 6: had home.
Speaker 2: Yeah.
Speaker 4: Yeah, Well, there's many people scratching their heads after those pardons.
Speaker 4: And the other head scratcher too, Shane. I'll get your
Speaker 4: view on this. First was pulling out of the Paris
Speaker 4: Agreement and climate change. Poor timing. The governor of California
Speaker 4: very angry given what's happened just there.
Speaker 6: Yeah, no, he doesn't care about that. His supporters wanted
Speaker 6: him to pull out of their paro's agreement. He'd done
Speaker 6: it before. He knows that he's got a sort of
Speaker 6: wrestle with folks like Newsom in California. This is about
Speaker 6: securing his base and also about calling his calling the
Speaker 6: Congress and the Senate to order and saying you do
Speaker 6: as I say.
Speaker 4: And from an economy point of view, Brad, what kind
Speaker 4: of a message does it send? Firstly, when he's talking
Speaker 4: about landing on Mars and then claiming splitting the atom,
Speaker 4: but surrounding himself with people like Elon Musk Bezos, what
Speaker 4: kind of messages that sending to the rest of the world.
Speaker 5: Well, I mean, there's obviously a few different leaders in
Speaker 5: the US administration alongside Trump. I mean people I'm seeing
Speaker 5: quite a lot of jokes online about President elect Musk
Speaker 5: and Vice President Trump. You know, where people are saying
Speaker 5: that Musks is sort of more important that The interesting
Speaker 5: one for me is how business is responding and everyone
Speaker 5: all the businesses are saying, look, we're not being political,
Speaker 5: we're not being political. But you see the likes of
Speaker 5: Facebook and Amazon and some of these big tech companies
Speaker 5: who you know, were very close to the inauguration. They
Speaker 5: were deliberately invited, they were given a very prominent position,
Speaker 5: and lo and behold, you know, they're changing fact checkers
Speaker 5: and they're changing the way their company policies have gone.
Speaker 5: I do sort of worry that everyone is pandering a
Speaker 5: little bit to However, the politics of the day shifts.
Speaker 5: Business is generally not like that, but again in the US,
Speaker 5: everything seems so much more hyper politicized. The difficulty for
Speaker 5: us here in New Zealand is again going, well, how
Speaker 5: do we operate in that environment when generally we don't
Speaker 5: operate in the US system, we're not nearly as hyper politicized.
Speaker 5: How do we turn how do we sort of negotiate
Speaker 5: through this maneuvering? And I mean we talked a bit
Speaker 5: about trade. We've talked about you know that, the changes
Speaker 5: to the World Health Organization, the climate agreements. I think
Speaker 5: the big one for us as that going forward, we're
Speaker 5: not going to be able to just have our trade
Speaker 5: envoys in the room. We need our national security people
Speaker 5: and our big diplomats not just on the trade space,
Speaker 5: but thinking broader because the next four years, in my mind,
Speaker 5: they're going to be way more focused on security issues,
Speaker 5: on geopolitical issues not nearly as much on trade. Trade
Speaker 5: is secondary economics is secondary to getting those geopolitical aims done.
Speaker 6: If you don't want, I got a couple of comments.
Speaker 6: First of all, if the average American thinks that billen
Speaker 6: years are going to share their wealth and act in
Speaker 6: the average Americans best since just they're fooling themselves. I've
Speaker 6: got two predictions for twenty twenty five. Ready for the
Speaker 6: first one, go for it a pardon or someone that
Speaker 6: lives in New Zealand dot com. Oh, go save that one, folks,
Speaker 6: and if it happens, say you hit it first from
Speaker 6: Shane to Poe. And the second one is that bitcoin
Speaker 6: and its counterparts are going to skyrocket. These people are
Speaker 6: the folks. They have got a lot of money're going
Speaker 6: to pump it up, and they're going to dump it
Speaker 6: and run.
Speaker 5: Well, did you guys see the trump coin or whatever
Speaker 5: that came out? Point that came up just before I
Speaker 5: was like, I mean, okay, One, it just sort of
Speaker 5: showed that you can make up anything these days and
Speaker 5: it can rocket ship. But two, like, when have you
Speaker 5: ever seen a US president very clearly try to profit
Speaker 5: like T minus one day out from their presidency. And
Speaker 5: I get that we're in different worlds and all this
Speaker 5: thing is, all these sort of norms are changing, but
Speaker 5: I thought that was that was really a different one
Speaker 5: to go through to see Trump coin go, you know,
Speaker 5: rocket ship to the moon.
Speaker 4: Yeah, And speaking of rocket ships, Musk's trade sheeers doubled
Speaker 4: as well after that announcement with Mars, so yeah, money money,
Speaker 4: money speaks, massive, massive volumes. And of course the other
Speaker 4: big announcement yesterday was the declassification of documents around assassinations.
Speaker 3: What did you both make of that?
Speaker 5: I can't wait to see what sort of Netflix documentaries
Speaker 5: we're going to get out in the next couple of years.
Speaker 5: But I mean, look, there's there's this view of like,
Speaker 5: we're all going to uncover all these great secrets, and
Speaker 5: I sort of feel like, given how many times official
Speaker 5: documents get leaked and all that sort of thing, surely
Speaker 5: by now we'd have bit of an idea. But hey, look,
Speaker 5: I'll certainly be having a look, I'll have a dig
Speaker 5: through at some point, but I don't know if we're
Speaker 5: going to have necessarily the big revelations that everyone's hoping for.
Speaker 6: I'm a tragic in many front and American politics. It
Speaker 6: is one of them people that read me and follow
Speaker 6: me to know this. I will read every single page really,
Speaker 6: oh yeah, particularly around the JFK and RFK assassinations. I
Speaker 6: think that RFK one is the most interesting. I don't
Speaker 6: think she Runs. She Run was the was the primary assassin,
Speaker 6: And funnily enough, I had a lengthy discussion with Bobby Jr.
Speaker 6: A few years ago about this. So I'm going to
Speaker 6: be watching and reading every single page ten times over.
Speaker 5: What I want to know is when do the UFO
Speaker 5: ones come out?
Speaker 2: When do we get the well?
Speaker 6: Yeah, oh, and they won't come out anytime soon Epstein.
Speaker 4: Oh yeah, just saw a lot of comments online about that.
Speaker 4: And also how much of these files will be redacted?
Speaker 2: Yes?
Speaker 3: Was the other question as.
Speaker 5: Well, wasn't it the point of d classifying them was that,
Speaker 5: like most of it shouldn't be redected.
Speaker 2: I mean it's been that long.
Speaker 5: I mean, what sort of investigation techniques from the FBI
Speaker 5: we're going to learn at the slate piece.
Speaker 6: But recently, one of the CI directors, I think he's
Speaker 6: recently been shifted because what happens over there. If you've
Speaker 6: got a federal job, you basically have to resign a
Speaker 6: you know, and then they replace and people don't realize
Speaker 6: it's quite deep. There's about eight thousand positions that are filled.
Speaker 6: And so you know with the CIA leader, the last
Speaker 6: CIA leader said that there are people that are still
Speaker 6: alive that can could be jeopardized as a result of
Speaker 6: releasing information in relation to the jfk assassination. My gosh,
Speaker 6: if the guy was eighteen ninety, he b in his
Speaker 6: mid eighties.
Speaker 4: Now, yeah, well we wait with Beata breath to see.
Speaker 4: As you say, it's like a Netflix show in itself,
Speaker 4: so we'll see what comes out next. I do want
Speaker 4: to move on to the teacher shortage ahead of the
Speaker 4: new year, and it is shocking. I myself have an
Speaker 4: eleven year old son and I know my school is impacted.
Speaker 4: But it's not just teachers. It's also principles. Guys, Why
Speaker 4: do we have this problem. Do we just have a
Speaker 4: lack of respect for teachers? Is that the big thing?
Speaker 6: Shane, Yeah, we don't value teachers. This is also pay
Speaker 6: parity issues. We've paid teachers less and nurses less because
Speaker 6: it's been a heavily female dominated industry in the past.
Speaker 6: This is about pay equity and it's a big issue,
Speaker 6: and there have been. The thing is, over the last
Speaker 6: ten to fifteen years have been some pretty big jumps.
Speaker 6: Teachers have had a twenty thirty percent increase. And the
Speaker 6: other thing is that, you know, I've just got a
Speaker 6: boy that's left high school and the girl that's only
Speaker 6: got a couple of years. But my gosh, I walked
Speaker 6: past our school at six thirty in the morning walking
Speaker 6: the dog. The car parker is full, teachers are at work.
Speaker 6: I come back at five thirty six o'clock, there's still there.
Speaker 6: And the other thing is that the parents expect a
Speaker 6: heck of a lot more to go to visit my
Speaker 6: kid school, particularly when they're teenagers. I don't want to
Speaker 6: embarrass them, but you've got parents lining up.
Speaker 2: You've got parents lining.
Speaker 6: Up every day all day to talk to the teacher.
Speaker 6: And the other big issue about teaching is that, you know,
Speaker 6: I live in Epsom, I live in inner city. Our
Speaker 6: teachers have to travel about it hour to work because
Speaker 6: they can't afford to live near their schools.
Speaker 3: Yeah wow, wow, what about you, Brad? What's going wrong?
Speaker 3: And how do we get more teachers?
Speaker 5: Well, I mean, this is the worry that I have
Speaker 5: is that how many you know, January February stories have
Speaker 5: there been in the last decade about aleck of teachers.
Speaker 5: We seem to identify the issue every year and then
Speaker 5: we sort of, I don't know, from a policy point
Speaker 5: of view, go to sleep because we clearly haven't solved it.
Speaker 5: Why have we not got the proper sort of pipeline.
Speaker 5: I definitely agree part of its pay. I think part
Speaker 5: of it's also I mean, Jesse, you noted that the Principles,
Speaker 5: but I think that's the one that worries me a
Speaker 5: bit more because you can put in place, you know,
Speaker 5: a greater ability to train up a number of teachers.
Speaker 5: Are some good initiatives that are going The worry for
Speaker 5: me is those principal positions. You can't just do a
Speaker 5: quick course and all of a sudden you're good. That's
Speaker 5: a long lead time. But also the work that Principles
Speaker 5: are doing these days is so much more detailed, so
Speaker 5: much bigger of a task than it used to be.
Speaker 5: You know, they've got to be you know, looking after
Speaker 5: all of the health and safety. They've got to you know,
Speaker 5: worry about everyone's sort of well being, both staff and
Speaker 5: the wider community, and all this sort of things. So
Speaker 5: there's a lot in there, but it just frustrates me
Speaker 5: that each and every year we get to this point
Speaker 5: and we go, oh, we haven't got enough teachers. We've
Speaker 5: identified this for long enough. And my big thing government
Speaker 5: at the moment is talking about tertiary education and about
Speaker 5: what's happening to training sort of more broader going forward.
Speaker 5: We need to get way smarter at instead of saying
Speaker 5: to everyone, look, do whatever course you want at whatever
Speaker 5: time you want, and sort of we will provide a
Speaker 5: bit of support for everything. Be a bit more targeted.
Speaker 5: Government needs to go through, in my mind, have a
Speaker 5: national skills plan and go, look, we always say we
Speaker 5: haven't got enough teachers. We always say we haven't got
Speaker 5: enough water technicians. We always say that we don't have
Speaker 5: enough nurses. So let's train a certain number each every year,
Speaker 5: and look, you get a full ride. Because I've seen
Speaker 5: a number of times before if someone had said to
Speaker 5: me that, Brad, if you go and do the training
Speaker 5: and will pay for you to become a water tech
Speaker 5: or a teacher or whatever, I probably wouldn't be here
Speaker 5: as an economist today because I'd follow the money. So
Speaker 5: give people an incentive and they will go that way.
Speaker 6: Can I also say the other thing is that a
Speaker 6: huge pipeline has died up. I'm in my mid to
Speaker 6: late fifties now and we had a lot of Australian
Speaker 6: and English teachers. They just don't come here anymore. They
Speaker 6: just don't come here anymore.
Speaker 3: Is that because of pay Shane?
Speaker 2: Yeah?
Speaker 6: Yeah, yeah, Look people are going the other way. Yeah,
Speaker 6: we're losing hundreds hundreds of teachers a year because they're
Speaker 6: moving to places like Brisbane. They're earning thirty percent more,
Speaker 6: they're paying thirty percent less for their rent or their
Speaker 6: mortgage and they've got a good, solid, stable superannuation plan
Speaker 6: that gives them a twelve percent return.
Speaker 2: Yeah.
Speaker 5: I think the big one going forward for me is
Speaker 5: that also there's all these changes coming through to the
Speaker 5: curriculum from government, and look, I really hope that because
Speaker 5: we've had education issues over a longer period of time.
Speaker 5: It's not one any one government's fault. But we really
Speaker 5: are in the position now unless we change it, we're
Speaker 5: in for a world of pain in terms of not
Speaker 5: having enough smart up and comers coming through, and that's
Speaker 5: where teachers do a huge amount of work. So I
Speaker 5: really do hope that some of the government changes coming through,
Speaker 5: some of the resources they're trying to push out do
Speaker 5: work and help our teachers a lot more, rather than
Speaker 5: put a whole new burden of more and more work
Speaker 5: on top of people who are already doing a lot.
Speaker 4: Yeah, because it's all well and good saying we're changing things,
Speaker 4: we're adding more things. But the thing that strikes me, guys,
Speaker 4: is the amount of non teaching work our teachers do,
Speaker 4: our social workers, they're counselors that they're looking after more often.
Speaker 4: They're not hungry kids, upset kids. They aren't just teachers anymore.
Speaker 4: In fact, when there was talk back this week, some
Speaker 4: were calling in saying that around twenty percent of what
Speaker 4: they do each day is actually teaching, the rest is
Speaker 4: managing behavior.
Speaker 6: Well, look, teaching is a tough gig. But the reality
Speaker 6: is if you are a teacher, say it at an
Speaker 6: epsom or meadow bank, or you get a bigger gig
Speaker 6: and the same amount of pay, a better gig and
Speaker 6: the same amount of pay compared to a teaching manga
Speaker 6: and or those folks do it tough on lots of fronts,
Speaker 6: not just the teaching front, but the attendance fronts the
Speaker 6: law and disorder in the local community. When we've got
Speaker 6: a teacher shortage and you and you talk about those
Speaker 6: socioeconomic areas of disproportionately pop pop poverty, it's even more
Speaker 6: in the it's even more exacerbated.
Speaker 5: It's also one of those things for teachers. I think
Speaker 5: we could all name a few great teachers that we
Speaker 5: had in our lives. Those make or break where people
Speaker 5: go in the future. The other people that either push
Speaker 5: you into doing bigger and better things and sort of
Speaker 5: back you to the hilt and keep you going, or
Speaker 5: they make it so much harder for you to keep going.
Speaker 5: And a lot of the time that's because they don't
Speaker 5: have the right time, the right resources themselves, because I've
Speaker 5: got so much work to do, so I told I mean, look,
Speaker 5: good teachers are absolutely gold, and we've got to got
Speaker 5: to keep supporting them. But at the moment, it is
Speaker 5: one of those challenges where the fewer we have and
Speaker 5: the more we obviously need to hire to get in,
Speaker 5: the more pressure that places on people who are currently there.
Speaker 5: And so this is I think again, it's not going
Speaker 5: to be a quick fix. But man, the longer we
Speaker 5: leave it, the harder it becomes to do.
Speaker 4: Yeah, you're not wrong, and the narrative has to change.
Speaker 4: We have to respect the more, stop having digs about
Speaker 4: teacher only days and how many holidays they have, and
Speaker 4: make it more attractive for someone to become a teacher.
Speaker 3: Thank you, gentlemen. We will take a quick break.
Speaker 4: We are with the panel on the Weekend Collective brad
Speaker 4: Olsen and Shane to Poe. On the other side, we'll
Speaker 4: be talking about act and the Estate of the Nation address.
Speaker 4: It is twenty five minutes past three. Jess Davidson with
Speaker 4: you today. Tim is away, well owned, well earned break
Speaker 4: for him and our panel today. Brad Olsen, who is
Speaker 4: chief executive and principal economists for Informetrics, and Shane to
Speaker 4: Poe comment commentator and blogger. And we're going to us now.
Speaker 4: We've heard, haven't we guys. Everyone's had their State of
Speaker 4: the Nation pretty much this week. We've heard from the
Speaker 4: National Party also, Labor have been talking a big game
Speaker 4: and it was ax turn yesterday with David Seymour coming
Speaker 4: out and saying New Zealand needs to get past the
Speaker 4: squeamishness about privatization and saying that we need to make
Speaker 4: some big calls about what we actually own.
Speaker 3: Brad, what was your reaction to Seymour's speech.
Speaker 5: Look, I do get some of David Seamore's point there
Speaker 5: around the likes of privatization and but more from the
Speaker 5: point of view of going should government be doing this?
Speaker 5: Is it a smart move? Is it something that no
Speaker 5: one else can do? Or is the government sort of
Speaker 5: just taking up the spot of the private sector itself,
Speaker 5: especially when look, we've got some big financial issues. From
Speaker 5: the government account's point of view, we're looking likely to
Speaker 5: be in deficit for the next.
Speaker 2: Half a decade.
Speaker 5: The numbers aren't good, so I do very much understand
Speaker 5: that point. I think the difficulty or the worry there
Speaker 5: is again, once you've made some asset sales, once you've
Speaker 5: pushed them away one, you can't get them back nearly
Speaker 5: as easily too. Where is this money going to go?
Speaker 5: And that's probably the big question for me is that yes,
Speaker 5: it's all fine and well to say, look, we might
Speaker 5: privatize a few more things, government might not be good
Speaker 5: at doing it, but I think the question should remain
Speaker 5: for the public what are we going to do with
Speaker 5: the money? And out the other end, what.
Speaker 3: About you, Shane, what did you make of it?
Speaker 6: I think it's I think that he's an extremist on
Speaker 6: the issue and he won't get half the agenda. The
Speaker 6: other thing is that let's recognize folk the other portion
Speaker 6: of the coalition is an economic nationalist. That's not my words,
Speaker 6: that's his words, and that's Winston Peterson saying Jones, So
Speaker 6: good luck with that day one, David. Simple, but it's
Speaker 6: pretty simple, and you can break it down to your
Speaker 6: own fuddy and your own work, your own car. You
Speaker 6: sell your car, how are you going to get around? Well,
Speaker 6: you're going to have to spend a bit of money
Speaker 6: on a bus or you're going to have to lease
Speaker 6: a car. And that's what happens when you privatize our
Speaker 6: national assets. You just end up paying for them through
Speaker 6: a different way. And one of the things that he's
Speaker 6: spoken about is public health and saying to the New Zealander,
Speaker 6: we're going to give you six thousand bucks and you
Speaker 6: go and get up whatever insurance you're likely to get
Speaker 6: if you are abeese, or if you've got diabetes, or
Speaker 6: if you've got preconditions as we know in America, which
Speaker 6: to the highest level of personal breakruancy bankruptcy is health
Speaker 6: insurance or the lack thereof. It's not good for the
Speaker 6: mid to long term in terms of people's health, So
Speaker 6: be careful of the extremes. But I think what we'll
Speaker 6: do is we'll end up somewhere in the middle. I
Speaker 6: think if we're going to have more roads and more bridges,
Speaker 6: we probably have to pay some tolls, and we're probably
Speaker 6: going to have to get some private public private public
Speaker 6: partnerships with a bit of international equity involved. Part of
Speaker 6: the problem, brands of the economists, I'm not part of
Speaker 6: the problem is a lot of these projects are big
Speaker 6: to us but small to the international companies, and whether
Speaker 6: they'd be interested in investing their money for a project
Speaker 6: all the way in New Zealand where perhaps they could
Speaker 6: just build more roads and bridges in Texas or in Arkansas.
Speaker 6: Transferring the investments in here is not going to be easy.
Speaker 2: But I think as well.
Speaker 5: I mean, you look at the likes of these but
Speaker 5: the PPPs and a lot of that talk, particularly around infrastructure,
Speaker 5: and I get it. But if I'm an overseas investor,
Speaker 5: what am I actually buying? Like there isn't currently something
Speaker 5: that's see on any government website that says here international investor,
Speaker 5: here are the four PPPs you can invest in, Like
Speaker 5: you're going to go and have to go through some
Speaker 5: NBA officials first, then you might have gone to some
Speaker 5: ministers and they'll eventually go to Cabinet and they.
Speaker 2: Might sign it off.
Speaker 5: If I'm an investor overseas, I find way better opportunities
Speaker 5: that are way quicker, way faster, And I think that's why,
Speaker 5: especially in the Prime Minister State of the Nation, I
Speaker 5: do think this invest in z organization that is a
Speaker 5: real winner for me because that is one of the
Speaker 5: issues that often comes up from overseas investors. But I mean, Shane,
Speaker 5: you've just been talking about health, and I think you're
Speaker 5: exactly right. I think that is a very dangerous road
Speaker 5: to go down. But here's the difference, and here's my
Speaker 5: part around particularly the privatization as a country, as society,
Speaker 5: I think we sort of say, look, health is something
Speaker 5: that is not really a for profit thing. It's something
Speaker 5: that we think has to be provided for all people
Speaker 5: because those who can't afford it will get sicker and
Speaker 5: they won't be nearly as well off. But other things,
Speaker 5: and I mean you think about the likes of electricity
Speaker 5: companies and similar, why on Earth, through the government run
Speaker 5: an electricity company? Why and more importantly, if they own
Speaker 5: an electricity company, why shouldn't they own everything? Well most
Speaker 5: of the time, because they'll rubbished it. So I do
Speaker 5: think that again, on some areas like health, I'm pretty
Speaker 5: very strongly supportive of keeping it as a public ownership model,
Speaker 5: very strongly, very very strongly. Other stuff, I go, well,
Speaker 5: if it's setting a market price and it's getting households
Speaker 5: to pay, why on earth does the government think it's
Speaker 5: the best one?
Speaker 6: Yeah, I get that, but a part privatization and that
Speaker 6: just hasn't benefited the you and I. It hasn't benefited
Speaker 6: people that use power basically.
Speaker 2: But nor has government control on that.
Speaker 6: But the thing is that they were legacy investments by us,
Speaker 6: the tax payer, and we're paying ourselves to extract our
Speaker 6: own electricity. And the reality is part of the problem, folks,
Speaker 6: is we're actually quite small and there isn't the economies
Speaker 6: of efficiencies that exist, and I think that's going to
Speaker 6: play the problem with or an investment.
Speaker 5: I think my big thing on on privatization, you look
Speaker 5: at some of the options on the table, you look
Speaker 5: at some of the stuff that we currently own. Unless
Speaker 5: government is going to be directive, unless it's going to say, look,
Speaker 5: I own fifty one percent of a lot of electricity
Speaker 5: companies and I'm going to direct them to do stuff,
Speaker 5: or you know, I own a bank they don't even
Speaker 5: government doesn't even bank with their own bank that they own.
Speaker 5: If they're not willing to put their own money where
Speaker 5: their mouth is, then we shouldn't own it. Why on
Speaker 5: earth If I'm a normal member of the public and
Speaker 5: I go, well, there's banks out there that you know,
Speaker 5: the government doesn't use, why should I use it? If
Speaker 5: the government who owns it isn't willing to back its
Speaker 5: own thing, that seems bizarre. Either use it or lose them.
Speaker 3: So does that contribute to us being squeamish about this? Then?
Speaker 3: Do you think is that why we're uncomfortable?
Speaker 5: I don't know if it's squamish or if we just
Speaker 5: haven't gone through. I don't want to turn into an
Speaker 5: academic debate, but I mean, just what are the principles here? Because,
Speaker 5: like I say, seriously, if we are if we've got stuff,
Speaker 5: if we own it and we don't use it, then
Speaker 5: what's the point in owning it? So either government should
Speaker 5: grow some or muscle and use its ability to dictate
Speaker 5: what it owns, because that's the point of having ownership,
Speaker 5: or if it's not going to use those powers, then
Speaker 5: it should relinquish control.
Speaker 6: I think we're skirmish because we're a relatively small country.
Speaker 6: Five point two million dollars. Our economy we've mentioned three
Speaker 6: or four names at the top of the show, probably
Speaker 6: earns less than what they do individually. And here is
Speaker 6: the thing, because we're such a small economy, because we're
Speaker 6: such a small population. If we are not careful, if
Speaker 6: we don't get it right, we could be tenants in
Speaker 6: our own country. I think we're skirmish because we believe
Speaker 6: this could be a fundamental issue about sovereignty.
Speaker 3: Right.
Speaker 4: There has been a lot of chat around infrastructure and
Speaker 4: roading and privatization of those, so I mean, in reality,
Speaker 4: if we're happy to pay for toll roads, that's potentially
Speaker 4: what we could see.
Speaker 5: I think that's part of it, out of it, and
Speaker 5: I think as well, it's one of those things where
Speaker 5: this is the one of the conversations it always gets me.
Speaker 5: We talk about prioritization and similar if you're going to have,
Speaker 5: you know, private ownership of road or eything else. Someone
Speaker 5: still needs to get paid. Either private sector needs to
Speaker 5: get paid all the public person needs to pay. Someone pays,
Speaker 5: and other stuff is free. I mean, economist joke a lot,
Speaker 5: but you do say that there is no such thing
Speaker 5: as a free lunch. So I think that's probably the
Speaker 5: difference there is that what is the right model to
Speaker 5: get public because public money doesn't stretch all that far.
Speaker 5: So sometimes the idea is if you get the private
Speaker 5: sector to fund it, you get it a little bit
Speaker 5: quicker and then you don't have to pay it back
Speaker 5: all at the same time, all in one big hit,
Speaker 5: So you can stretch your money a bit further. But
Speaker 5: at the same time you need to make sure you
Speaker 5: get good quality roads. I mean, you look at some
Speaker 5: of the stuff we've currently got. I don't know if
Speaker 5: Transmission Gully is officially an open road like it's I
Speaker 5: know that we use it, but I don't think it's
Speaker 5: officially finished yet. And that's you know, that's obviously a
Speaker 5: big PPP. So yes, these options work, but we've got
Speaker 5: to think. I think we've got to think through what
Speaker 5: the money is and how it pays for its at.
Speaker 6: But also I think we've got to be more fundamental
Speaker 6: than that. We've got to have to have multi party agreements.
Speaker 6: Say these are the top forty projects in the next
Speaker 6: third twenty five years. Now, the new minister is not
Speaker 6: going to come in and choose the color of the curtains.
Speaker 6: This is what we agree on. This is what we do.
Speaker 6: So we don't reach the fairy FIESCO and the other
Speaker 6: fiesos that And here's the thing about we don't start
Speaker 6: on infrastructure now, Abrad, you're the economists, not me. It's
Speaker 6: only going to be one thing that happens. You're going
Speaker 6: to cost you more totally.
Speaker 5: But I mean, you look at the furies and I
Speaker 5: think that the other one and this is a real
Speaker 5: big I think this is a challenge for politicians generally.
Speaker 5: Do not come out with a press release on the
Speaker 5: first back of the envelope, back of the napkin number
Speaker 5: and say that's the cost of it, because we know
Speaker 5: that's never the case. We know that those numbers continue
Speaker 5: to increase. And when you sort of go out to
Speaker 5: the public and you're like, this project, be it hospitals,
Speaker 5: but a skill buildings, bit faury terminals are going to
Speaker 5: cost x billion dollars and then they three times higher
Speaker 5: in a couple of years time. People hold you to
Speaker 5: that first number. That first number is rubbish. It was
Speaker 5: never anywhere close to the truth. But we seem to
Speaker 5: take the very earliest essmen say that's lockdown, yep, and
Speaker 5: look at the fallout from it.
Speaker 4: And I've seen many posts online from people looking to
Speaker 4: come over to news Iner now and everyone's saying, just
Speaker 4: don't book a faery, do not even go there. Thank you, gentlemen.
Speaker 4: I want to continue on the theme of act in
Speaker 4: a way. After the break, we're going to talk about
Speaker 4: that Artina celebrations happening today and the one party that's
Speaker 4: not there will take a break though first ten News Talks.
Speaker 4: He'd be the Weekend Collective now twenty two minutes away
Speaker 4: from four. Wonderful to have your company. I'm Jess Davidson
Speaker 4: with you today, Tim on a break and we're joined
Speaker 4: by Brad Olsen and Shane the Pot on the panel.
Speaker 4: And of course that artin are very special anniversary for
Speaker 4: them today, Shane one hundred years and at party.
Speaker 3: No surprise that they're not there.
Speaker 6: Yeah, bit of a shame. I think they should they
Speaker 6: should have fronted and you know what again, I'm no
Speaker 6: fan of David Simils. My local journal seat in people
Speaker 6: normally does front and people actually do respect them for that.
Speaker 6: It was I think it was last year or the
Speaker 6: year before. I was in No last year I was
Speaker 6: in White Tongue. He got up in here its little
Speaker 6: quartered for ten minutes and people were booing him. But
Speaker 6: you know what when he said, other people respected that.
Speaker 6: And I think that Ratna. I know that it has
Speaker 6: its political sort of connotations, but if you actually go
Speaker 6: through Artna I think I've been there ten fifteen times,
Speaker 6: you get a real sense of unity and oneness, and
Speaker 6: apart from one or two minutes political speech, it's a
Speaker 6: wonderful occasion to be it, as is why.
Speaker 4: Toney, Yeah and Brad? What did you make of their absence?
Speaker 4: Would it have been wise for them to go?
Speaker 5: I think from a democratic point of view, it's always
Speaker 5: good to have people front up. I mean that's you
Speaker 5: don't just go to the conversations that are easy, you
Speaker 5: go to the ones that are hard. Although I must say,
Speaker 5: sort of hearing and seeing some of the reporting that's
Speaker 5: come through, we spent seem to be spending a lot
Speaker 5: of time talking about what we're definitely not going to
Speaker 5: do in politics this year. I mean, like, and I
Speaker 5: get that because people are asking a lot of questions
Speaker 5: about it, right, They're saying, well, why are we spending
Speaker 5: time on this? And everyone's going, well, we're not spending
Speaker 5: time on it, but we are spending all of our
Speaker 5: ear time or so like that. That one just challenges
Speaker 5: me because, look, I know that there's a lot going on,
Speaker 5: but it really does sort of make me a question.
Speaker 5: We're spending so much time saying what we're not doing?
Speaker 5: What are we doing? What are the good things that
Speaker 5: we're sort of pushing forward on? Because that is being
Speaker 5: a little bit lost in the conversation here.
Speaker 4: Yeah, exactly. And I wanted to chat about emergency housing
Speaker 4: as well. Now government have hit targets, they've decreased the
Speaker 4: amount of people in them by seventy five percent five
Speaker 4: years early, Brad, What do we put that down to?
Speaker 4: Is that great management by the government or great supply?
Speaker 5: I think I think there's a few things going on.
Speaker 5: I think, to be fair, one of the big parts
Speaker 5: has been a much greater government crackdown on who can
Speaker 5: get through into emergency housing. And look, I think one
Speaker 5: of the challenges there is that is a balancing act.
Speaker 5: On one hand, you want to make sure that when
Speaker 5: people need support they can go into it. That's completely true,
Speaker 5: and I think we very much are you know, I
Speaker 5: very much support that. But at the same time, there
Speaker 5: does seem to have been over the last couple of
Speaker 5: years a number of occasions where people were going into
Speaker 5: emergency housing with no intention, no support, no plan to
Speaker 5: leave it, and things just seem to be keeping going on.
Speaker 5: The question here is that, Okay, so we have less
Speaker 5: fewer people going into emergency housing, that is good.
Speaker 2: Where are they going though?
Speaker 5: That doesn't seem to be being measured quite as much,
Speaker 5: which does raise concerns over are we seeing more homeless
Speaker 5: or more people that are in precarious housing situations having
Speaker 5: to you know, sleep in their cars or you know,
Speaker 5: go and sleep with friends and family for.
Speaker 2: A couple of nights.
Speaker 5: But the big one for me is that again, this
Speaker 5: was an issue that was identified, it didn't seem to
Speaker 5: have an exit plan. It's now had probably a much
Speaker 5: faster exit plan than we hoped for. But trying to
Speaker 5: figure out where those people are going in the future,
Speaker 5: were they helped through or have they just been sort
Speaker 5: of put out? Is going to be one of the
Speaker 5: big questions for the next couple of months.
Speaker 6: Yeah. Look, I think that part of it is supply
Speaker 6: a lot of the stuff that started on labor came
Speaker 6: starting to come online. So that's happening. A lot of
Speaker 6: the work they were doing with h HAPPA ANDIVIA are starting
Speaker 6: to come online. But I also think we're seen, and
Speaker 6: I said antidotally, every day I see more homeless people
Speaker 6: again on the streets in Queen Street, out in Manerewa,
Speaker 6: and just more and more stories about people living in
Speaker 6: their cars. And you know, these are people that are
Speaker 6: on the peripheral of society anyway, and they're often not counted.
Speaker 6: But sooner or later the chickens come home to rest
Speaker 6: and we notice it, and we notice that it's increasing,
Speaker 6: and I think that's happening.
Speaker 4: Yeah, And even the people moving out of emergency housing,
Speaker 4: they're still getting some kind of support through accommodation supplements.
Speaker 4: And with the way job losses are going, as you say,
Speaker 4: this isn't going to be a problem that's just magically
Speaker 4: dealt to.
Speaker 2: No, it's not.
Speaker 5: Although I think again we've on the housing front. More generally,
Speaker 5: I feel like there are a number of more positive
Speaker 5: trends that have been coming through. You know, house prices
Speaker 5: are effectively going down, certainly not going up. We've seen
Speaker 5: there's a little bit more rental price inflation restraint, not
Speaker 5: going down but not going up nearly as fast as before.
Speaker 5: We have yip seen the number of building consents come
Speaker 5: back quite a bit, but thankfully that looks like it's
Speaker 5: plateauing out at a still fairly high level, and all
Speaker 5: of that still coming after quite a big weight of
Speaker 5: building that's still being complete at the moment, so that
Speaker 5: is encouraging. There are some nice new homes coming through
Speaker 5: for a number of Kiwis, but there is I think
Speaker 5: there's just this big question of again, where do we
Speaker 5: go to from here? We had this big bulk of
Speaker 5: people through in emergency housing. It's encouraging to see one
Speaker 5: that those numbers have come down so quickly and that
Speaker 5: there's still support for them. But what is the wider
Speaker 5: plan because we're not seeing that same level of building
Speaker 5: coming through from kyeing Aura. Again, government doesn't have nearly
Speaker 5: as much money, so that question of okay, better numbers now,
Speaker 5: but the future bit is I think still the big question.
Speaker 6: I don't want to be the downer at the party.
Speaker 6: I'm the party boy, but I will bring a bit
Speaker 6: of downer to the party here. I don't have the
Speaker 6: level of optimism that Brad has. And I think one
Speaker 6: of the big issues we're going to be faced in
Speaker 6: the next five to ten years is work force capability.
Speaker 6: We're losing some seven hundred to eight hundred people every
Speaker 6: week out in New Zealand. They are folks, the nurses,
Speaker 6: the teachers, the plumbers, the electricians, the builders of the
Speaker 6: houses and you know, you know, twenty years ago lot
Speaker 6: of my fino left and then they sort of stayed
Speaker 6: here and now they're leaving again. I had a nephew
Speaker 6: leave three weeks ago. He's living in Perth. He's on
Speaker 6: seventy five bucks Australian.
Speaker 2: Our as a builder.
Speaker 6: His house rental is about forty percent. Now I know
Speaker 6: he's the week in thirty five degrees celsius every day
Speaker 6: and guess what. The other thing, he's got a bloody
Speaker 6: great superannuation program twelve percent. You know, I help pack
Speaker 6: them bag and bags.
Speaker 1: Is it?
Speaker 2: Get on your boy?
Speaker 6: If I was a bit younger, I'll do the same.
Speaker 5: You got to be a site foreman. You can oversee
Speaker 5: the building works a bit more. But I mean, look, seriously,
Speaker 5: you are right about that workforce question. I think one
Speaker 5: of the difficulties for construction is that it's gone through
Speaker 5: such a big up the last couple of years. It
Speaker 5: went from sort of high levels to super high and
Speaker 5: unsustainable over the long term levels. Now it's trying to
Speaker 5: figure out what's the goldilock zone and figure out also
Speaker 5: what workforce doesn't need because we've had, you know, changes
Speaker 5: in the number of residential dwellings, we've got shifts and
Speaker 5: how much commercial building is going on. But also that
Speaker 5: infrastructure piece. You know, we need the right talent to
Speaker 5: be able to build that because again we know that
Speaker 5: we've got water pipes that need to be invested, and
Speaker 5: we know we've got more roads and more rail and
Speaker 5: more cycle ways, all those different options. Ports and airports
Speaker 5: that are looking to either expand so that we can
Speaker 5: trade more or bring in more tourism. All of that
Speaker 5: takes people. And again that sort of thing of where
Speaker 5: are the future talent coming from, because there are some
Speaker 5: parts of New Zealand that are losing three times as
Speaker 5: many people to retirement, not only the people going overseas,
Speaker 5: but retirement then people coming in who's going to do
Speaker 5: this work not just today, not just in five years,
Speaker 5: but in ten, fifteen, twenty.
Speaker 6: And also we're going to have the crunch will come
Speaker 6: to I love here in Tommigi, Makoto. We build far
Speaker 6: and wide. We've got to stop that. Man, we are
Speaker 6: going to have we are going to have to get
Speaker 6: mid mid to high high intensity housing. The other thing
Speaker 6: is that badness. Quite right, It's not just about the house,
Speaker 6: it's about the infrastructure. And we've got where I live.
Speaker 6: Their infrastructure isn't coping with the people that live in
Speaker 6: there now, let alone more housing.
Speaker 3: Exactly right, exactly right.
Speaker 4: And I want to touch on the job aspect because
Speaker 4: we did have some news this week about the amount
Speaker 4: of people on job seekers. We'll get to that after
Speaker 4: the break. Eleven minutes after three, sorry, eleven minutes away
Speaker 4: from four here news talks here b week in collective.
Speaker 4: Back shortly and time for one more topic with Brad
Speaker 4: Olson and Shane Tapoe. The number of people on a
Speaker 4: benefit gentlemen have dropped, has dropped by thirty three thousand people.
Speaker 4: Your reaction to that has it well, I mean it's
Speaker 4: one of those things you've had more people that are
Speaker 4: getting into work.
Speaker 2: That's totally true.
Speaker 5: But you are still seeing that increase coming through in
Speaker 5: the number of people on benefit, particularly that those jobs
Speaker 5: seeing numbers, and I think, I mean, this is one
Speaker 5: of the things. Yes, you're definitely having more people go
Speaker 5: into work, that's that's true, that's encouraging. Part of that's
Speaker 5: also because you've got more people on a benefit, so
Speaker 5: there's more that can get off it at the same time.
Speaker 5: And for me looking at some of those figures, the
Speaker 5: one that really struck me for the December twenty twenty
Speaker 5: four quarter, that's the data that came out the other day,
Speaker 5: is that you've now got six point five percent of
Speaker 5: the working age population on a job seeker support benefit.
Speaker 5: That's up from five point nine percent of the population
Speaker 5: a year ago and getting pretty close to that peak
Speaker 5: of six point eight percent that we saw during the
Speaker 5: peak of sort of COVID that first year in twenty twenty.
Speaker 5: And the worry for me is, I mean, we talk
Speaker 5: a lot about these jobs seeker numbers, and a lot
Speaker 5: of the time it is around the labor market and
Speaker 5: people getting jobs. I totally acknowledge that, and that's pretty
Speaker 5: tough when you've got fewer job opportunities. The one that
Speaker 5: worries me, I think actually a little bit more is
Speaker 5: the higher number of people that are classified as job
Speaker 5: seeker support but they're on the health conditions or disability benefits,
Speaker 5: so they are we call them job seekers, but a
Speaker 5: lot of the time it's around sort of some of
Speaker 5: the mental health challenges they face, and similar those numbers
Speaker 5: have come up massively, they're not coming down nearly as much.
Speaker 5: And my worry there is that very hard to get
Speaker 5: you to go back on to the work side or
Speaker 5: to get into that corporate job or whatever it might
Speaker 5: be when you do have those sort of health challenges,
Speaker 5: And why are we seeing this greater and greater mental load.
Speaker 5: It suggests that we're not putting the right resources in
Speaker 5: and if we don't support people there, we're not going
Speaker 5: to have good workers come out the other side.
Speaker 6: Yeah, I think that these figures are a little bit
Speaker 6: of a little not I wouldn't say shady.
Speaker 2: But they're sort of cast them a good life.
Speaker 6: Yeah, yeah, yeah, that's right, But there are no there's
Speaker 6: no good news when it comes to employment in New Zealand,
Speaker 6: where at four point six four four point six four
Speaker 6: point eight, four point eight percent but you know what
Speaker 6: four point eight is an average in rural New Zealand,
Speaker 6: that's nine percent, and if you're Jengite or young Marti,
Speaker 6: it's fifteen, sixteen, seventeen percent. And what I do know,
Speaker 6: having been around for a little while, is when you
Speaker 6: get to say ten percent unemployment in a place like
Speaker 6: a poor Tiki or a Hipata or fare, it becomes
Speaker 6: entrenched and it becomes generational, and you can't fix it
Speaker 6: in a political term. So that really is worrying me.
Speaker 2: It has.
Speaker 5: It has been encouraging though to see one of the
Speaker 5: latest WETSPAC reports that came out showed a bit more
Speaker 5: of an increase coming through an employment confidence and sort
Speaker 5: of expectations of better job conditions coming. The numbers are
Speaker 5: still pretty grim, and that that's totally understandable when the
Speaker 5: unemployment rate is high and continuing to rise, but maybe
Speaker 5: just a bit of a shift on that job's front.
Speaker 5: Are some of the SIAK number I think out last
Speaker 5: week showed again a bit of a shift around in
Speaker 5: the number of job ads coming into the market. You're
Speaker 5: not seeing huge new numbers, but you're not seeing it
Speaker 5: drop away quite as much either, And that just suggests
Speaker 5: that businesses out there are seeing some of those early
Speaker 5: green shoots and going, look, maybe we can either hire
Speaker 5: a few more people, we don't have to cut back
Speaker 5: quite as much. So yes, very tough at the moment,
Speaker 5: but hoping still for better things as we move through
Speaker 5: into twenty twenty five.
Speaker 4: Gentlemen, thank you so very much for your time today.
Speaker 4: I've thoroughly enjoyed it. Thank you both.
Speaker 2: This has been great, fun, awesome.
Speaker 4: Absolutely I've learned a lot. That's Brad Olson, chief executive
Speaker 4: and principal economists for Infometrics and Shame to Poe, commentator
Speaker 4: and blogger. Thank you, gentlemen. We'll be getting to the
Speaker 4: news now at four o'clock. On the other side, the
Speaker 4: One Roof Property Show with Ashley Church.
Speaker 3: And jesuit me.
Speaker 2: To califon you kid.
Speaker 1: We could break in if you know, I mean, put some.
Speaker 6: St you at the engineer, just suit.
Speaker 2: Me drug the Catibaric game.
Speaker 4: We did break it in.
Speaker 2: Put some bon we do break it in.
Speaker 6: If you know about some bason, we to break it in.
Speaker 2: If you know, comy, put some bles on it.
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