1 00:00:00,960 --> 00:00:04,720 Speaker 1: You're listening to a shares. These podcast were the world 2 00:00:04,800 --> 00:00:08,200 Speaker 1: champions of comparing ourselves stract to kicker, who's doing it 3 00:00:08,200 --> 00:00:12,520 Speaker 1: better than us? Right now? I think Australia is definitely 4 00:00:12,560 --> 00:00:15,560 Speaker 1: up performing us at the moment, and that's because they are, 5 00:00:16,800 --> 00:00:20,920 Speaker 1: and you know they're Their central bank didn't go as 6 00:00:21,000 --> 00:00:24,520 Speaker 1: hard on the rate hikes, so therefore the Aussie economy 7 00:00:24,520 --> 00:00:29,240 Speaker 1: didn't slow down as much. They didn't record a technical recession. 8 00:00:30,080 --> 00:00:32,720 Speaker 1: They've got a recession in per capita terms, but it's 9 00:00:32,800 --> 00:00:35,559 Speaker 1: quite shallow compared to ours. So we just look at 10 00:00:35,600 --> 00:00:38,080 Speaker 1: the Aussie economy and go, oh man, it's just growing 11 00:00:38,520 --> 00:00:44,000 Speaker 1: nicer than ours. The labor markets tighter, wage growth is more. 12 00:00:44,360 --> 00:00:46,840 Speaker 1: They're just more buoyant than we are at the moment, 13 00:00:47,360 --> 00:00:50,519 Speaker 1: and that's why we've seen a net forty three thousand 14 00:00:50,640 --> 00:00:53,599 Speaker 1: kiwis leave in the last year. People are heading there 15 00:00:54,120 --> 00:00:57,240 Speaker 1: then go on to Australia. So we've seen seventy odd 16 00:00:57,320 --> 00:01:01,640 Speaker 1: thousand kiwis leave and then some coming back. But that 17 00:01:01,840 --> 00:01:05,520 Speaker 1: net forty three is huge. That's a lot of kiwi's leaving. 18 00:01:06,800 --> 00:01:09,679 Speaker 1: It goes in cycles and we saw it in twenty 19 00:01:09,800 --> 00:01:13,959 Speaker 1: and twelve when the Aussie mining boom was really in 20 00:01:14,080 --> 00:01:17,479 Speaker 1: full flight and people were going over driving a truck 21 00:01:17,560 --> 00:01:20,120 Speaker 1: and Perth for like two hundred thousand dollars. Not so 22 00:01:20,240 --> 00:01:22,000 Speaker 1: much of that these days, not so much of that, 23 00:01:22,080 --> 00:01:25,360 Speaker 1: but definitely better prospects at the moment. Otherwise we wouldn't 24 00:01:25,360 --> 00:01:29,240 Speaker 1: be seeing the numbers of Kiwi leaving to Australia. How 25 00:01:29,280 --> 00:01:31,520 Speaker 1: much of that is off savings and just a stronger, 26 00:01:31,720 --> 00:01:36,200 Speaker 1: you know, a better national superannuation structure so that people 27 00:01:36,240 --> 00:01:39,760 Speaker 1: are putting more money aside. Oh, I mean that's been 28 00:01:39,800 --> 00:01:42,480 Speaker 1: a strength of Australia for a while. Now. They've got 29 00:01:42,560 --> 00:01:45,840 Speaker 1: I think the fifth largest sovereign wealth fund on the 30 00:01:45,920 --> 00:01:48,840 Speaker 1: planets for an economy, which is less than two percent 31 00:01:49,360 --> 00:01:52,280 Speaker 1: of the global economy. To have that sort of savings there, 32 00:01:52,440 --> 00:01:54,400 Speaker 1: and you know what, they don't think they've got enough. 33 00:01:55,840 --> 00:01:59,520 Speaker 1: They are still increasing their compulsory I think it's gone 34 00:01:59,560 --> 00:02:01,800 Speaker 1: up to twelve percent now. It was nine percent when 35 00:02:01,840 --> 00:02:04,680 Speaker 1: I was working there. I tell you what, working thirteen 36 00:02:04,920 --> 00:02:07,680 Speaker 1: and a half years in Australia, I've actually got this 37 00:02:07,760 --> 00:02:10,560 Speaker 1: nice little nest egg sitting there that I wouldn't have 38 00:02:10,560 --> 00:02:13,120 Speaker 1: had otherwise. There's no way I could afford to put 39 00:02:13,560 --> 00:02:16,400 Speaker 1: nine percent away over that entire period. But it's sitting 40 00:02:16,440 --> 00:02:19,040 Speaker 1: there and it's great, and we're doing it here now. 41 00:02:19,280 --> 00:02:23,400 Speaker 1: Should be compulsory, should be a much higher rate. But 42 00:02:23,840 --> 00:02:28,480 Speaker 1: you know, some things Australians just do do better than us. 43 00:02:28,720 --> 00:02:30,520 Speaker 1: They dig holes better than us, I can tell you 44 00:02:30,560 --> 00:02:33,360 Speaker 1: that much. But we grow stuff on top much better 45 00:02:33,400 --> 00:02:37,640 Speaker 1: than them. One thing they are pretty good at, and 46 00:02:37,639 --> 00:02:40,720 Speaker 1: particularly at the state level, is the big infrastructure stuff. 47 00:02:41,320 --> 00:02:43,440 Speaker 1: You know, they just seem to get stuff done. And 48 00:02:43,480 --> 00:02:46,600 Speaker 1: I use Sydney as a classic example, where you've got 49 00:02:46,639 --> 00:02:52,720 Speaker 1: this bridge and it's got heaps lanes, it's got a 50 00:02:52,760 --> 00:02:55,680 Speaker 1: train track gone both ways, so trains can go across, 51 00:02:55,840 --> 00:02:58,920 Speaker 1: you can walk down one side, you can cycle across 52 00:02:58,960 --> 00:03:02,040 Speaker 1: the other side of it. And that was built, you know, 53 00:03:02,120 --> 00:03:08,720 Speaker 1: fifty years ago. That's not enough. Their cities grew and 54 00:03:08,760 --> 00:03:12,760 Speaker 1: they've got a tunnel going underneath. Now you've got fairies, 55 00:03:12,840 --> 00:03:15,359 Speaker 1: you've got plenty of ways to get across the Sydney Harbor. 56 00:03:16,040 --> 00:03:21,480 Speaker 1: Right here, You've got a bridge that was built in 57 00:03:21,520 --> 00:03:24,080 Speaker 1: the sixties, I think, on the cheap. On the cheap, 58 00:03:24,880 --> 00:03:28,280 Speaker 1: it reached capacity five years later, so we tacked on 59 00:03:28,919 --> 00:03:32,320 Speaker 1: some clip ons and we've done nothing since. The only 60 00:03:32,360 --> 00:03:34,800 Speaker 1: other way to get across is with maybe a fiery 61 00:03:34,840 --> 00:03:38,440 Speaker 1: if you're lucky, or a kayak, right, that's your option, 62 00:03:38,760 --> 00:03:43,960 Speaker 1: strong strong swimmers exactly. It's I think it just highlights 63 00:03:44,000 --> 00:03:47,480 Speaker 1: the difference between us. They can they can deliver these 64 00:03:47,480 --> 00:03:50,560 Speaker 1: big projects in Australia and they can think a lot 65 00:03:50,600 --> 00:03:54,360 Speaker 1: further ahead for some reason, and I just wish we 66 00:03:54,400 --> 00:03:57,400 Speaker 1: would snap out of it. Involves the risk you might 67 00:03:57,440 --> 00:03:59,800 Speaker 1: lose the money you start with. We recommend talking to 68 00:03:59,800 --> 00:04:04,160 Speaker 1: a licensed financial advisor. We also recommend reading product disclosure 69 00:04:04,200 --> 00:04:05,920 Speaker 1: documents before deciding to invest.