1 00:00:00,240 --> 00:00:03,640 Speaker 1: Sorry, I must put always speaking to foreigner's voice. Hello, Tracy, 2 00:00:03,720 --> 00:00:04,480 Speaker 1: how are you today? 3 00:00:04,720 --> 00:00:06,600 Speaker 2: It's Lorgan. I'm so excited. 4 00:00:07,080 --> 00:00:11,080 Speaker 3: Hey, Lurcan's too long, and Lorcan, I'm sorry to see. 5 00:00:11,520 --> 00:00:14,640 Speaker 3: I just found out that all episodes now go on 6 00:00:14,760 --> 00:00:18,239 Speaker 3: radio and we can't swear anymore, so. 7 00:00:18,520 --> 00:00:20,720 Speaker 2: You're gonna have wait, but we can actually bleep it out. 8 00:00:21,160 --> 00:00:23,960 Speaker 1: No, because then I think that should be the start 9 00:00:24,000 --> 00:00:24,720 Speaker 1: of the podcast. 10 00:00:24,920 --> 00:00:29,720 Speaker 3: Yeah, that's where we're going to start it there, I 11 00:00:29,720 --> 00:00:32,159 Speaker 3: did a deadlift one. 12 00:00:32,600 --> 00:00:36,640 Speaker 2: Okay, so many uh barges. 13 00:00:36,800 --> 00:00:38,920 Speaker 3: This isn't after school Special except. 14 00:00:38,560 --> 00:00:41,120 Speaker 2: I've decided I'm going to base my entire personality going 15 00:00:41,159 --> 00:00:44,360 Speaker 2: forward on campaigning for a strategic pork reserve in the US. 16 00:00:44,479 --> 00:00:46,200 Speaker 3: Where's the best with imposta? 17 00:00:46,400 --> 00:00:48,959 Speaker 2: These are the important question? Is it robots taking over 18 00:00:49,000 --> 00:00:49,280 Speaker 2: the world? 19 00:00:49,440 --> 00:00:52,280 Speaker 3: No. I think that like in a couple of years, 20 00:00:52,440 --> 00:00:54,680 Speaker 3: the AI will do a really good job of making 21 00:00:54,760 --> 00:00:58,120 Speaker 3: the out launch podcast. And people say, I don't really 22 00:00:58,120 --> 00:00:59,920 Speaker 3: need to listen to Joe and Tracy anymore. 23 00:01:00,200 --> 00:01:05,640 Speaker 2: We do have ching the perfe you're listening to lots 24 00:01:05,680 --> 00:01:08,080 Speaker 2: more where we catch up with friends about what's going 25 00:01:08,120 --> 00:01:08,840 Speaker 2: on right now. 26 00:01:09,120 --> 00:01:11,880 Speaker 3: Because even when the odd lots is over. There's always 27 00:01:11,880 --> 00:01:12,479 Speaker 3: lots more. 28 00:01:12,760 --> 00:01:15,080 Speaker 2: And we really do have the perfect. 29 00:01:14,680 --> 00:01:20,520 Speaker 3: Guest, Tracy, I miss when one of our when we 30 00:01:20,640 --> 00:01:23,160 Speaker 3: worked with Lurcan, our Irish farmer friend. 31 00:01:23,720 --> 00:01:29,000 Speaker 2: Yes, working with Lurcan was a singular experience in many ways. 32 00:01:29,080 --> 00:01:31,360 Speaker 2: There was a lot of swearing, I remember that. But 33 00:01:31,400 --> 00:01:33,880 Speaker 2: it also meant we had an agricultural expert that we 34 00:01:33,920 --> 00:01:36,520 Speaker 2: could just turn around and ask questions too. 35 00:01:36,720 --> 00:01:39,800 Speaker 3: And it means that Bloomberg for a few years had 36 00:01:39,800 --> 00:01:43,960 Speaker 3: a six mile Bridge bureau in Western and Western Ireland, 37 00:01:43,959 --> 00:01:44,319 Speaker 3: which and. 38 00:01:44,319 --> 00:01:47,440 Speaker 2: I visit the most desirable Bloomberg bureau of all. I 39 00:01:47,480 --> 00:01:47,840 Speaker 2: think I. 40 00:01:48,000 --> 00:01:51,960 Speaker 3: Visited the six mile Bridge Bureau. I think Dash visited. 41 00:01:52,040 --> 00:01:53,920 Speaker 2: Yes, I have been that. I love six mile Bridge. 42 00:01:53,920 --> 00:01:56,000 Speaker 3: It's beautiful there. Yeah, but Tracy, at some point you're 43 00:01:56,000 --> 00:01:57,680 Speaker 3: going to have to make your pilgrimage, even if it's 44 00:01:57,720 --> 00:01:59,040 Speaker 3: not a formal bureau anymore. 45 00:01:59,160 --> 00:02:02,360 Speaker 2: I really want to wait. Okay, So we have our 46 00:02:02,400 --> 00:02:06,160 Speaker 2: former colleague Lorcan roch Kelly with us. He left Bloomberg 47 00:02:06,320 --> 00:02:09,440 Speaker 2: a little while ago and he is now working at 48 00:02:09,720 --> 00:02:12,120 Speaker 2: the what was it, the Irish Farmer's Journal. 49 00:02:12,440 --> 00:02:13,760 Speaker 3: What are you doing these days, Lorcan? 50 00:02:15,120 --> 00:02:18,240 Speaker 1: Yeah, I'm business editor at the Irish Farmer's Journal. I 51 00:02:18,240 --> 00:02:20,480 Speaker 1: won't say it's my perfect job, but it's close to 52 00:02:20,520 --> 00:02:22,480 Speaker 1: my perfect job. And it came up. I couldn't say no, 53 00:02:22,560 --> 00:02:25,000 Speaker 1: what does I love Bloomberg and love job working with 54 00:02:25,080 --> 00:02:27,440 Speaker 1: you all. It's still this was an opportunity lea that 55 00:02:27,639 --> 00:02:30,359 Speaker 1: could not pass up. Like you, Joe, if you have 56 00:02:30,440 --> 00:02:33,040 Speaker 1: advised it to be the editor of Irish International Country 57 00:02:33,120 --> 00:02:33,760 Speaker 1: Music magazine. 58 00:02:33,840 --> 00:02:36,960 Speaker 3: Yeah right, no, that's when you left. I was like, 59 00:02:37,040 --> 00:02:39,400 Speaker 3: oh god, I'm so devastated that Lorcan is leaving. But 60 00:02:39,440 --> 00:02:40,919 Speaker 3: then you're like, I'm going to be the editor of 61 00:02:41,000 --> 00:02:43,640 Speaker 3: the Irish Farmer's Journal. It's like, all right, I really like, 62 00:02:44,200 --> 00:02:46,720 Speaker 3: I can't blame you. It was it sounded right. 63 00:02:47,800 --> 00:02:48,440 Speaker 1: It's a good face. 64 00:02:48,520 --> 00:02:49,440 Speaker 3: Yeah, okay, that's good. 65 00:02:49,600 --> 00:02:52,440 Speaker 2: For those who don't know. Lorcan has a really interesting 66 00:02:52,639 --> 00:02:56,760 Speaker 2: career history and he sort of willed himself into being 67 00:02:56,760 --> 00:02:59,600 Speaker 2: a financial commentator around the time of the ear Zone crisis. 68 00:02:59,600 --> 00:03:02,000 Speaker 2: But Lorc, and give us your background before we dive 69 00:03:02,080 --> 00:03:04,120 Speaker 2: intic because I don't think everyone people who don't know 70 00:03:04,160 --> 00:03:04,720 Speaker 2: the lorg and. 71 00:03:04,720 --> 00:03:08,160 Speaker 4: Lore Oh my god, I didn't we do a podcast 72 00:03:08,240 --> 00:03:10,799 Speaker 4: this before? Can we just reference that? 73 00:03:11,200 --> 00:03:11,560 Speaker 3: Yeah? 74 00:03:11,800 --> 00:03:14,160 Speaker 1: Yeah, yeah, I used to do lots of things. I 75 00:03:14,240 --> 00:03:16,840 Speaker 1: used to do some mining, I used to be an 76 00:03:16,919 --> 00:03:20,839 Speaker 1: art gallery. I used to do some advice. We worked 77 00:03:20,880 --> 00:03:23,440 Speaker 1: for you as hedge funds. I used to I used 78 00:03:23,480 --> 00:03:24,840 Speaker 1: to do a lot of things. I think maybe I 79 00:03:24,880 --> 00:03:27,200 Speaker 1: get board is late. That could possibly what the problem is. 80 00:03:27,240 --> 00:03:29,600 Speaker 1: But I think I think it's kind of not quite 81 00:03:29,639 --> 00:03:31,640 Speaker 1: faked till you make it. But it's you know, if 82 00:03:31,639 --> 00:03:33,960 Speaker 1: people say, I always say why can't they do that? 83 00:03:34,040 --> 00:03:36,000 Speaker 1: Rather why can't I do that? So that's it might 84 00:03:36,000 --> 00:03:38,000 Speaker 1: be my philosophy, and it's worked out well so far. 85 00:03:38,080 --> 00:03:40,440 Speaker 3: That is a great philosophy. The day that I or 86 00:03:40,480 --> 00:03:42,800 Speaker 3: I was there, I think I was there visiting you 87 00:03:42,880 --> 00:03:44,920 Speaker 3: for you know, three or four night, but I think 88 00:03:44,920 --> 00:03:47,280 Speaker 3: I was there when you sold at least some of 89 00:03:47,320 --> 00:03:49,800 Speaker 3: the last of your cows on the farm, and I 90 00:03:49,840 --> 00:03:53,800 Speaker 3: went with you to the local cow auction, which was 91 00:03:53,800 --> 00:03:54,280 Speaker 3: really fun. 92 00:03:54,480 --> 00:03:57,040 Speaker 1: Yeah, you had the full agricultural experience. Even though if 93 00:03:57,040 --> 00:03:59,240 Speaker 1: I memory service, you had the Irish breakfast in the 94 00:03:59,280 --> 00:04:01,560 Speaker 1: local co auction, which is definitely one pretty. 95 00:04:01,640 --> 00:04:03,120 Speaker 3: Yes, it was a great iris press And I just 96 00:04:03,160 --> 00:04:05,320 Speaker 3: want to make one point about that Irish breakfast, which 97 00:04:05,320 --> 00:04:07,400 Speaker 3: is really good. And I posted a photo on Twitter 98 00:04:07,440 --> 00:04:10,600 Speaker 3: and for those of you know, Lorcan, you've probably wisely 99 00:04:10,680 --> 00:04:13,240 Speaker 3: moved off Twitter. I'm still addicted. We all know how 100 00:04:13,240 --> 00:04:17,120 Speaker 3: Tracy view is Twitter. But I posted that photo of 101 00:04:17,160 --> 00:04:20,279 Speaker 3: this Irish breakfast that I got at this like small 102 00:04:20,560 --> 00:04:25,560 Speaker 3: local you know auction, little auction house in Western Ireland 103 00:04:25,600 --> 00:04:28,640 Speaker 3: for cows in the cafe and the canteen there and 104 00:04:28,680 --> 00:04:31,520 Speaker 3: all these people. It looks like tourist tourist food and 105 00:04:31,520 --> 00:04:33,480 Speaker 3: stuff like that, because I guess that's just how people 106 00:04:33,520 --> 00:04:35,640 Speaker 3: react online. They see some food in the first and 107 00:04:35,760 --> 00:04:37,960 Speaker 3: paulsa to insult it, and they probably thought I was 108 00:04:38,000 --> 00:04:40,760 Speaker 3: in like some you know, expensive Dublin hotel or something, 109 00:04:40,800 --> 00:04:43,479 Speaker 3: and it could not have been less of a tourist area. 110 00:04:43,560 --> 00:04:45,279 Speaker 3: And so it confirms all the bad I. 111 00:04:48,360 --> 00:04:52,400 Speaker 1: Have to say yourself, aside from yourself, yes, yeah, it's 112 00:04:52,440 --> 00:04:52,800 Speaker 1: not for. 113 00:04:52,760 --> 00:04:56,120 Speaker 2: Myself, Lorcan. So Joe mentioned you sold the cows, and 114 00:04:56,200 --> 00:04:58,680 Speaker 2: I seem to remember for a while you became a 115 00:04:58,720 --> 00:05:01,400 Speaker 2: tree farmer of some taking advantage of. 116 00:05:03,360 --> 00:05:03,400 Speaker 3: You. 117 00:05:04,120 --> 00:05:08,360 Speaker 1: Are you are absolutely touching such a raw nerve, right, Yeah, 118 00:05:08,760 --> 00:05:11,240 Speaker 1: I have no idea I'm going to start marching in 119 00:05:11,320 --> 00:05:11,920 Speaker 1: the office here. 120 00:05:12,040 --> 00:05:14,520 Speaker 2: Yeah, this is what happens to the trees. 121 00:05:16,200 --> 00:05:18,280 Speaker 4: The trees are still not in the ground, did you too, 122 00:05:18,640 --> 00:05:23,599 Speaker 4: unbelievable bureaucracy, like astonishing levels of bureaucracy. Well, this is 123 00:05:23,720 --> 00:05:26,240 Speaker 4: we can go to that. Well, this is I might 124 00:05:26,520 --> 00:05:27,880 Speaker 4: hear how my tone has changed. 125 00:05:27,960 --> 00:05:33,320 Speaker 3: Yes, my understanding is that there are many farmers across 126 00:05:33,520 --> 00:05:39,200 Speaker 3: the EU these days, France, Germany, the Netherlands probably elsewhere 127 00:05:39,640 --> 00:05:42,080 Speaker 3: that are angry. Some of them are shutting down. Have 128 00:05:42,160 --> 00:05:43,680 Speaker 3: you shut down any highways yet? 129 00:05:44,960 --> 00:05:46,880 Speaker 1: Not yet, but we're going to go. It's just I 130 00:05:46,880 --> 00:05:49,960 Speaker 1: think the farmers have going out in solidarity this evening 131 00:05:49,960 --> 00:05:51,440 Speaker 1: in the sum areas. But we're not shoting on this 132 00:05:51,480 --> 00:05:54,719 Speaker 1: because it's not actually protesting right now. We're just in solidarity. 133 00:05:54,800 --> 00:05:58,440 Speaker 3: But it sounds like maybe you understand you can sympathize 134 00:05:58,480 --> 00:06:01,320 Speaker 3: with the fresh or get heavy in deep grasp of 135 00:06:01,360 --> 00:06:02,400 Speaker 3: what the frustration is. 136 00:06:03,480 --> 00:06:05,960 Speaker 1: I can tell you exactly what the frustration has caused for, 137 00:06:06,040 --> 00:06:08,839 Speaker 1: And there's three things that have caused frustration. The first 138 00:06:08,880 --> 00:06:11,800 Speaker 1: thing is what has happened, The second thing is what's 139 00:06:11,800 --> 00:06:16,280 Speaker 1: happening right now, and the third thing is what's about that? 140 00:06:15,040 --> 00:06:17,920 Speaker 2: And I found. 141 00:06:19,520 --> 00:06:21,400 Speaker 3: What do you build that out a little bit? 142 00:06:22,160 --> 00:06:24,640 Speaker 1: Yeah, I think that what happened is is kind of 143 00:06:24,960 --> 00:06:27,160 Speaker 1: farmers in the EU. Because the US has got very 144 00:06:27,240 --> 00:06:30,720 Speaker 1: high welfare standards tramas, which is very laudable, they've got 145 00:06:30,800 --> 00:06:34,080 Speaker 1: very high environmental standards as well. So these environmental standards 146 00:06:34,440 --> 00:06:37,919 Speaker 1: have been kind of increasing for the last twenty five years. 147 00:06:37,920 --> 00:06:39,520 Speaker 1: Out one of the big ones was there's a water 148 00:06:39,560 --> 00:06:42,320 Speaker 1: safety directive came in nineteen ninety nine and that has 149 00:06:42,360 --> 00:06:45,799 Speaker 1: been kind of slowly implemented over the last twenty five years, 150 00:06:45,880 --> 00:06:49,160 Speaker 1: and every kind of iteration of that implementation brings in 151 00:06:49,360 --> 00:06:51,960 Speaker 1: more rules of farmers have to follow, so it brings 152 00:06:51,960 --> 00:06:55,599 Speaker 1: an increased burden of administration. But also they tend to 153 00:06:55,680 --> 00:06:58,480 Speaker 1: limit how much production the farmers can have under land. 154 00:06:58,760 --> 00:07:00,200 Speaker 1: And this is kind of something that's been for a 155 00:07:00,240 --> 00:07:03,240 Speaker 1: long time and farmers don't like it particularly, but they're 156 00:07:03,360 --> 00:07:06,599 Speaker 1: they accepting of it. But the problem they have right 157 00:07:06,640 --> 00:07:09,520 Speaker 1: now is that a lot of the trade deals the 158 00:07:09,520 --> 00:07:12,480 Speaker 1: EU signs with countries like the mercers are won't particularly, 159 00:07:12,720 --> 00:07:15,680 Speaker 1: but also in New Zealand and Australia, those trade deals 160 00:07:15,720 --> 00:07:18,160 Speaker 1: are trade like, they're free trade agreements, so they cover 161 00:07:18,240 --> 00:07:22,080 Speaker 1: everything including farm products. But the farmers in Europe there 162 00:07:22,320 --> 00:07:24,200 Speaker 1: the problem is they look at these tradeers say hangings 163 00:07:24,240 --> 00:07:26,960 Speaker 1: like these guys, particularly in South America, they do not 164 00:07:27,040 --> 00:07:29,320 Speaker 1: have anything like the environmental standards we do. They can 165 00:07:29,400 --> 00:07:33,520 Speaker 1: produce animals cattle at a sixty percent of the cost 166 00:07:33,560 --> 00:07:36,280 Speaker 1: and send it to US. An undercut armor feud in 167 00:07:36,360 --> 00:07:39,560 Speaker 1: the market in the EU because of trading in place. Okay, 168 00:07:39,600 --> 00:07:41,280 Speaker 1: the markers who want to dot in place yet, But 169 00:07:41,440 --> 00:07:44,080 Speaker 1: if you look at New Zealand land, if there's slightly 170 00:07:44,120 --> 00:07:46,480 Speaker 1: lower environmental stands in New Zealand, they can be taking 171 00:07:46,480 --> 00:07:49,360 Speaker 1: adventage because they'll have they'll just have lower margins or 172 00:07:49,760 --> 00:07:52,800 Speaker 1: lower margin requirements coming into the EU. So that's kind 173 00:07:52,840 --> 00:07:56,120 Speaker 1: of both what has happened and what's happening next. I 174 00:07:56,120 --> 00:07:58,440 Speaker 1: think on the two sides of that. What's happening right 175 00:07:58,480 --> 00:08:02,080 Speaker 1: now is farmers are being squeezed in Europe for lots 176 00:08:02,080 --> 00:08:06,000 Speaker 1: of different things. Twenty twenty two farmer incomes skyrock. They 177 00:08:06,000 --> 00:08:08,520 Speaker 1: went up forty fifty percent across the board because we 178 00:08:08,560 --> 00:08:12,160 Speaker 1: had the kind of the huge squeeze on costs for 179 00:08:12,200 --> 00:08:14,840 Speaker 1: everyone Europe. There's lots of supply chain problems. There was 180 00:08:14,880 --> 00:08:16,360 Speaker 1: last things that the farmers went in a position that 181 00:08:16,480 --> 00:08:18,760 Speaker 1: they were able to sell more product in the local market. 182 00:08:18,800 --> 00:08:21,000 Speaker 1: There was less global trade and the man from big 183 00:08:21,080 --> 00:08:23,800 Speaker 1: leaf countries from Asia shot up, so farmers took advantage 184 00:08:23,840 --> 00:08:25,720 Speaker 1: of that so last time, but that was okay in 185 00:08:25,760 --> 00:08:27,880 Speaker 1: twenty two because at the same time we saw that 186 00:08:28,000 --> 00:08:31,480 Speaker 1: the input costs for farming also Skyrotcher. I'm sure you've 187 00:08:31,480 --> 00:08:34,800 Speaker 1: seen the European gas prices worked, their fertilizer prices tripling. 188 00:08:35,080 --> 00:08:37,920 Speaker 1: We're looking at fuel prices, electricity prices I've shot up 189 00:08:37,920 --> 00:08:40,720 Speaker 1: as well. But farmers couls eat those costs in twenty 190 00:08:40,760 --> 00:08:44,120 Speaker 1: twenty two because their output costs rose so much this 191 00:08:44,280 --> 00:08:48,280 Speaker 1: year twice last year twenty twenty three, farm incomes dropped 192 00:08:48,280 --> 00:08:50,760 Speaker 1: by forty percent kind of back to twenty twenty one level, 193 00:08:50,800 --> 00:08:54,960 Speaker 1: slightly above twenty twenty one levels, but the farm costs 194 00:08:55,440 --> 00:09:00,200 Speaker 1: dropped by maybe maybe kind of seventy five percent twenty 195 00:09:00,200 --> 00:09:02,040 Speaker 1: five said harder where they were in twenty twenty one. 196 00:09:02,320 --> 00:09:04,040 Speaker 1: So the cost space has dropped a lot, but not 197 00:09:04,120 --> 00:09:06,400 Speaker 1: as much. The income was dropped back to where it 198 00:09:06,480 --> 00:09:08,920 Speaker 1: was planet twenty twenty one levels, and for some farmers 199 00:09:08,960 --> 00:09:11,120 Speaker 1: they have they're having negative income in twenty twenty three, 200 00:09:11,400 --> 00:09:14,960 Speaker 1: so they're kind of their cost space is unsustainable. In 201 00:09:15,000 --> 00:09:17,560 Speaker 1: lots of wys forgotten different farmers. And on top of 202 00:09:17,600 --> 00:09:20,079 Speaker 1: that then you have new legislation coming in on some 203 00:09:20,120 --> 00:09:22,880 Speaker 1: of the tax breaks the farmers are getting, particularly in Germany. 204 00:09:22,920 --> 00:09:24,720 Speaker 1: And Joe, I know you're a huge fan of this. 205 00:09:24,880 --> 00:09:29,079 Speaker 1: The thanks, I'll get the pronunciation right. The bundes fair 206 00:09:29,160 --> 00:09:32,920 Speaker 1: Fast sung Direct has had their ruling last year. That's 207 00:09:32,920 --> 00:09:35,599 Speaker 1: the German Constitution Cord which had the recent ruling on 208 00:09:35,920 --> 00:09:39,040 Speaker 1: the German budgets and as part of those they Germans 209 00:09:39,240 --> 00:09:41,600 Speaker 1: government can't spend money anymore. So one of the cost 210 00:09:41,640 --> 00:09:44,199 Speaker 1: same Emeer states side and reduced was to cut the 211 00:09:44,520 --> 00:09:48,760 Speaker 1: tax relief on agricultural diesel and agricultural machines. So he's 212 00:09:48,880 --> 00:09:51,319 Speaker 1: one of the big cost lots of farmers that, particularly 213 00:09:51,360 --> 00:09:54,240 Speaker 1: on the tilly sector is diesel the power attractors and 214 00:09:54,400 --> 00:09:57,880 Speaker 1: buy new machines. So the question of this tax reef 215 00:09:57,920 --> 00:10:01,079 Speaker 1: from that in the budget has really pushed German farmers 216 00:10:01,120 --> 00:10:04,000 Speaker 1: over the edge. I think they're starting to get some concessions. 217 00:10:04,040 --> 00:10:05,960 Speaker 1: On that last day or two we see some concessions 218 00:10:05,960 --> 00:10:08,599 Speaker 1: announced that we see that the tax deal will be 219 00:10:08,760 --> 00:10:10,960 Speaker 1: there for I don't know. While I think I think 220 00:10:11,000 --> 00:10:13,000 Speaker 1: a lot of people that politicians or Blas is concerned 221 00:10:13,040 --> 00:10:14,920 Speaker 1: that we have elections coming up in for the European 222 00:10:15,080 --> 00:10:17,319 Speaker 1: Parliament in June, and that's because see, if we see 223 00:10:17,360 --> 00:10:20,679 Speaker 1: farmers protesting, we might see a push mortars to rise 224 00:10:20,880 --> 00:10:23,000 Speaker 1: from the center and in European elections. 225 00:10:23,640 --> 00:10:26,679 Speaker 2: So one thing I sh that was excellent, that was 226 00:10:26,679 --> 00:10:28,640 Speaker 2: a really good overview. But one thing I don't get. 227 00:10:28,840 --> 00:10:33,120 Speaker 2: So the sort of clean water initiatives I don't understand. 228 00:10:33,280 --> 00:10:36,439 Speaker 2: I thought the big problem with cattle farming was the 229 00:10:36,520 --> 00:10:41,439 Speaker 2: sort of large scale stuff where the cows fart and pooh, 230 00:10:41,679 --> 00:10:45,240 Speaker 2: and all the manure goes into like a giant cistern 231 00:10:45,400 --> 00:10:48,439 Speaker 2: where it doesn't degrade in a natural way, and then 232 00:10:48,480 --> 00:10:51,800 Speaker 2: that runs off into the water system and makes everything 233 00:10:52,080 --> 00:10:54,640 Speaker 2: out of that. But I thought the smaller farms it 234 00:10:54,800 --> 00:10:57,680 Speaker 2: was like slightly better. But it seems like the smaller 235 00:10:57,720 --> 00:10:59,920 Speaker 2: scale farm farms are affected as well. 236 00:11:01,559 --> 00:11:05,520 Speaker 1: I think the tightness of legislation is in Europe is 237 00:11:05,600 --> 00:11:07,319 Speaker 1: quite a lot harder than is anywhere else in the world. 238 00:11:07,360 --> 00:11:09,959 Speaker 1: Because even legislation as four is it good. I supposed 239 00:11:09,960 --> 00:11:12,800 Speaker 1: take a step back. There's thing called the Common Agricultural Policy, 240 00:11:12,920 --> 00:11:16,480 Speaker 1: which is the European policy to make sure the people 241 00:11:16,520 --> 00:11:19,640 Speaker 1: that food in Europe is cheap because the production cycle 242 00:11:19,679 --> 00:11:22,120 Speaker 1: in Europe is quite expensive. So farmers are given money 243 00:11:22,559 --> 00:11:25,079 Speaker 1: to produce food at a high level that can be 244 00:11:25,160 --> 00:11:29,120 Speaker 1: sold at a rate that is accessible to consumers. So 245 00:11:29,600 --> 00:11:31,800 Speaker 1: the common I suppose, it's kind of a compensation mechanism 246 00:11:31,840 --> 00:11:33,360 Speaker 1: for a lot of the rules that come in. But 247 00:11:33,480 --> 00:11:37,400 Speaker 1: the rules that the Common Agricultural policy are quite tight, 248 00:11:37,520 --> 00:11:40,599 Speaker 1: I suppose, so it is what called the good agricultural 249 00:11:40,600 --> 00:11:44,480 Speaker 1: and environmental condition. It's called a GAEC. So to get 250 00:11:44,600 --> 00:11:47,320 Speaker 1: the cap money, as a farm, you've got eight things 251 00:11:47,400 --> 00:11:50,199 Speaker 1: you have to do. You have to establish a buffer 252 00:11:50,200 --> 00:11:52,280 Speaker 1: strip long watercourse, so if you've got a river flow 253 00:11:52,320 --> 00:11:54,199 Speaker 1: into your land or a stream, you have to have 254 00:11:54,280 --> 00:11:56,400 Speaker 1: a bit of land that you don't farm against that 255 00:11:57,240 --> 00:11:59,880 Speaker 1: you have to have protection against called or pollution that 256 00:12:00,120 --> 00:12:02,400 Speaker 1: quite simply like you have a tank to keep your 257 00:12:02,720 --> 00:12:05,280 Speaker 1: cow slurry in. You have to have a minimum of 258 00:12:05,320 --> 00:12:08,640 Speaker 1: soil cover. You have to land manage in spaecific site 259 00:12:08,679 --> 00:12:11,120 Speaker 1: conditions to limit erosions or you have to leave hedros 260 00:12:11,160 --> 00:12:13,400 Speaker 1: in place. You have to have at least four percent 261 00:12:13,440 --> 00:12:15,720 Speaker 1: of your land that is going to cause space for nature. 262 00:12:16,160 --> 00:12:16,920 Speaker 4: Like that's not. 263 00:12:17,040 --> 00:12:18,800 Speaker 1: Almost a lot of small farms, but on so many 264 00:12:19,080 --> 00:12:22,680 Speaker 1: farms it is you've got the retention of landscape features, 265 00:12:22,679 --> 00:12:24,719 Speaker 1: so again you can't clear heteros. So that's kind of 266 00:12:24,760 --> 00:12:27,480 Speaker 1: these kind of they're almost finicky little rules, but they're 267 00:12:27,520 --> 00:12:29,600 Speaker 1: all in place. And on top of that, then there 268 00:12:29,800 --> 00:12:33,160 Speaker 1: is they do water quality tests across Europe, and the 269 00:12:33,240 --> 00:12:36,840 Speaker 1: water quality tests measure nitrates, which is kind of if 270 00:12:36,880 --> 00:12:39,439 Speaker 1: you ever heard of algae blooms across as a big 271 00:12:39,440 --> 00:12:41,760 Speaker 1: SiGe and pollution, that's a high nitrogen level of water. 272 00:12:42,559 --> 00:12:44,760 Speaker 1: So they need to work tests that you're the measures 273 00:12:44,760 --> 00:12:47,920 Speaker 1: of nitrogen level. And what they've done is they've established 274 00:12:47,920 --> 00:12:52,400 Speaker 1: a base level of nitrogen per hectare of land in Europe, 275 00:12:52,600 --> 00:12:55,880 Speaker 1: which means basically limits chemical fertiliser in lots of ways. 276 00:12:56,040 --> 00:12:57,599 Speaker 1: But it's just like the amount of nitrogen in the 277 00:12:57,640 --> 00:13:00,280 Speaker 1: soil can't be more than one hundred and seventy. It's 278 00:13:00,360 --> 00:13:05,360 Speaker 1: kilograms per hector, so eleven one hundred and seventy. In Ireland, uniquely, 279 00:13:05,760 --> 00:13:08,120 Speaker 1: we have what called a derogation from that where our 280 00:13:08,200 --> 00:13:11,439 Speaker 1: nambage was two hundred and fifty corrector because Ireland is 281 00:13:11,480 --> 00:13:14,480 Speaker 1: a fully grass based agricultural system, we don't have big 282 00:13:14,559 --> 00:13:17,480 Speaker 1: sheds with feed lots, it's all cows on grass. So 283 00:13:17,559 --> 00:13:19,000 Speaker 1: because you have all calls on grass, you have a 284 00:13:19,080 --> 00:13:21,880 Speaker 1: higher night level in the field generally. So we had 285 00:13:21,960 --> 00:13:24,040 Speaker 1: that at two hundred and fifty pikino up until the 286 00:13:24,080 --> 00:13:27,040 Speaker 1: first two January this year when it got reduced to 287 00:13:27,080 --> 00:13:30,280 Speaker 1: two hundred and twenty and two fifty twenty a lot. 288 00:13:30,320 --> 00:13:33,040 Speaker 1: But for a lot of dairy farmers who were Johanna 289 00:13:33,080 --> 00:13:34,960 Speaker 1: being tested and were farming at two hundred and fifty, 290 00:13:35,000 --> 00:13:37,120 Speaker 1: that cut the two hundred and twenty means their production 291 00:13:37,240 --> 00:13:39,559 Speaker 1: will drop by about six or seven percent. 292 00:13:39,720 --> 00:13:42,440 Speaker 2: You basically have to get rid of the cows right 293 00:13:42,559 --> 00:13:43,000 Speaker 2: like there's not. 294 00:13:43,080 --> 00:13:46,680 Speaker 1: A lot of cows, but you can get get more land, 295 00:13:46,920 --> 00:13:48,920 Speaker 1: get more land rid of cows. That's the two options, 296 00:13:49,440 --> 00:13:51,559 Speaker 1: and that has a knock on effect becau dairy farmers 297 00:13:51,600 --> 00:13:54,480 Speaker 1: are they earn I suppose that the highest turn up 298 00:13:54,520 --> 00:13:57,440 Speaker 1: they've they've got income levels so they can then rent 299 00:13:57,600 --> 00:14:00,319 Speaker 1: lease land that's close to them. A lot of farmers 300 00:14:00,360 --> 00:14:02,599 Speaker 1: at LEASA that the trusty was tillage land. So the 301 00:14:02,679 --> 00:14:05,600 Speaker 1: tailage second arnum has been squeezed by the dairy sector. 302 00:14:05,720 --> 00:14:07,640 Speaker 1: But the AlwaysOn the dairy sector is doing this squeezing. 303 00:14:07,880 --> 00:14:11,160 Speaker 1: It's because of this microanslated legislation that's in place. That's 304 00:14:11,360 --> 00:14:15,400 Speaker 1: water qualitization again comes from nineteen ninety nine, which instantly 305 00:14:15,440 --> 00:14:17,400 Speaker 1: I think is the same year that the Marchester trade 306 00:14:17,440 --> 00:14:20,800 Speaker 1: talks started. So you know, these things are are long 307 00:14:20,880 --> 00:14:22,840 Speaker 1: time in the grass before the biles and just all 308 00:14:23,000 --> 00:14:23,960 Speaker 1: kind of biting right now. 309 00:14:38,000 --> 00:14:41,640 Speaker 3: Your trees, Tracy struck a raw nerve asking about your 310 00:14:41,680 --> 00:14:45,080 Speaker 3: tree firm, like what was the deal? You took a deal, right, 311 00:14:45,160 --> 00:14:46,920 Speaker 3: you sold your cows and you were going to get 312 00:14:47,000 --> 00:14:51,040 Speaker 3: money from the EU to plant trees, Like tell us 313 00:14:51,160 --> 00:14:53,280 Speaker 3: that what's the what was the basic what was the 314 00:14:53,320 --> 00:14:53,960 Speaker 3: basic program? 315 00:14:56,480 --> 00:14:59,720 Speaker 1: This is the Paris climate Yeah, targets, it's where it 316 00:14:59,760 --> 00:15:02,840 Speaker 1: comes because our land is a high admitting country, because 317 00:15:02,920 --> 00:15:05,120 Speaker 1: we have our cultural high emissure. We've also got a 318 00:15:05,200 --> 00:15:08,040 Speaker 1: large aviation sector here. We have lots of difficulty so on, 319 00:15:08,280 --> 00:15:10,800 Speaker 1: but the one that we can kind of control, I suppose, 320 00:15:10,840 --> 00:15:13,800 Speaker 1: locally is the agricultural sector. So in order to get 321 00:15:13,840 --> 00:15:17,040 Speaker 1: the recent Powers climate change agreements, the ARS government has 322 00:15:17,200 --> 00:15:19,720 Speaker 1: undertaken certain things we're going to do by twenty thirty, 323 00:15:20,320 --> 00:15:22,480 Speaker 1: and one of those was to establish eight thousand extra 324 00:15:22,560 --> 00:15:25,760 Speaker 1: hectors of forestry per year in the country. Now, the 325 00:15:25,840 --> 00:15:30,320 Speaker 1: policy has been an abject failure from the start. They're 326 00:15:30,320 --> 00:15:32,600 Speaker 1: getting around two thousand hectares per year, but much of 327 00:15:32,640 --> 00:15:35,120 Speaker 1: that as commercial forestry anyway. And the reason why is 328 00:15:35,160 --> 00:15:38,800 Speaker 1: is that the rules that's thround it and the environmental 329 00:15:38,960 --> 00:15:42,400 Speaker 1: rules are almost our drugs are not clear enough either 330 00:15:42,520 --> 00:15:45,840 Speaker 1: to the farmer, to the forester, or to the inspector, 331 00:15:46,280 --> 00:15:49,280 Speaker 1: so everyone kind of edged either doesn't make a decision, 332 00:15:49,280 --> 00:15:51,840 Speaker 1: which is a typical problem in brockers across the world, 333 00:15:52,320 --> 00:15:54,360 Speaker 1: or else they air on the side of caution so 334 00:15:54,520 --> 00:15:58,720 Speaker 1: put such stringent restrictions on plantations that plantations never happen 335 00:15:58,720 --> 00:15:59,880 Speaker 1: at all. And in my case that was one of 336 00:15:59,920 --> 00:16:02,080 Speaker 1: the things. We had such straining conditions on the plantation. 337 00:16:02,320 --> 00:16:04,640 Speaker 1: I couldn't get a forester commit the plant it because 338 00:16:04,640 --> 00:16:08,080 Speaker 1: he couldn't guarantee the plantation when it was finished would 339 00:16:08,080 --> 00:16:10,400 Speaker 1: be exactly really the spec that was required because the 340 00:16:10,440 --> 00:16:11,520 Speaker 1: spec was so tight. 341 00:16:12,280 --> 00:16:16,200 Speaker 2: That seems so crazy, like because tree growth is so unpredictable, 342 00:16:16,360 --> 00:16:18,600 Speaker 2: like how do you ever and you're working on such 343 00:16:18,720 --> 00:16:21,560 Speaker 2: long timelines. It seems like if you don't know what 344 00:16:21,640 --> 00:16:23,400 Speaker 2: something is going to look like in twenty years it 345 00:16:23,520 --> 00:16:25,600 Speaker 2: just seems like a huge risk to take in order 346 00:16:25,640 --> 00:16:26,520 Speaker 2: to get the subsidies. 347 00:16:27,560 --> 00:16:30,240 Speaker 1: Exactly that is, that is precisely what the problem is. 348 00:16:31,360 --> 00:16:32,600 Speaker 1: If there was a thing where you just gave free 349 00:16:32,640 --> 00:16:34,800 Speaker 1: trees devironments that plant that will give you a mode 350 00:16:34,840 --> 00:16:37,440 Speaker 1: breaker for years, then that would be much easier. But 351 00:16:37,560 --> 00:16:43,160 Speaker 1: because there is again realms of EU environmental data resolciation 352 00:16:43,280 --> 00:16:46,440 Speaker 1: for everything that they started doing that to start try 353 00:16:46,680 --> 00:16:48,280 Speaker 1: to keep it quite simple, but they were brought to 354 00:16:48,360 --> 00:16:51,600 Speaker 1: court by believe it or not, environmentalists who felt that 355 00:16:52,120 --> 00:16:55,520 Speaker 1: the environmental laws weren't being fully implemented in these planning 356 00:16:55,800 --> 00:16:58,000 Speaker 1: and these tree planning applications that would be given out. 357 00:16:58,400 --> 00:16:59,760 Speaker 1: Put it stoped for a couple of years as well. 358 00:17:00,240 --> 00:17:05,440 Speaker 1: So we're big into I suppose legislation and regulation here 359 00:17:05,720 --> 00:17:08,920 Speaker 1: in ways that most Americans might find somewhat amazing. 360 00:17:09,640 --> 00:17:11,880 Speaker 3: So there aren't protests in Ireland yet, or there aren't 361 00:17:11,920 --> 00:17:15,040 Speaker 3: big protests, I mean there's a lot in like France 362 00:17:15,119 --> 00:17:18,320 Speaker 3: seems to be where they're always in the Netherlands. So 363 00:17:19,080 --> 00:17:20,680 Speaker 3: is the situation, Yeah. 364 00:17:21,359 --> 00:17:21,800 Speaker 4: That's the true. 365 00:17:22,040 --> 00:17:23,480 Speaker 1: Quite, I think it's kind of important where when we 366 00:17:23,560 --> 00:17:25,760 Speaker 1: look at the protests a quite Europe like that there's 367 00:17:25,800 --> 00:17:28,560 Speaker 1: different they're protesting over different things. They're all the same 368 00:17:28,720 --> 00:17:32,040 Speaker 1: level of sorry, they're all the same level of upset, 369 00:17:32,520 --> 00:17:34,359 Speaker 1: but they ProTem of the thing. So if you look 370 00:17:34,359 --> 00:17:37,320 Speaker 1: at the profmers in Poland, but they were protesting over 371 00:17:37,480 --> 00:17:41,320 Speaker 1: the fact that the Ukraine farm products was had a 372 00:17:41,359 --> 00:17:43,920 Speaker 1: free run into Europe. And because if you're driving the 373 00:17:43,960 --> 00:17:46,560 Speaker 1: truck from the Ukraine, you stopped the first plug chance 374 00:17:46,600 --> 00:17:48,920 Speaker 1: you gets, you stop in Poland at celr grain there. 375 00:17:48,960 --> 00:17:51,760 Speaker 1: So the Polish farmers felt that Ukraine was dumping out. 376 00:17:51,800 --> 00:17:52,640 Speaker 1: So they've got the deal. 377 00:17:52,720 --> 00:17:52,800 Speaker 2: Now. 378 00:17:52,840 --> 00:17:54,280 Speaker 1: I think they're trying to get a deal that sorted 379 00:17:54,320 --> 00:17:59,240 Speaker 1: out today where they'll get that that will the trailers 380 00:17:59,240 --> 00:18:02,439 Speaker 1: still exist, but there'll be more distributed across Europe. In Germany, 381 00:18:02,480 --> 00:18:04,720 Speaker 1: as I said, already, their protesting double the price diesel 382 00:18:04,800 --> 00:18:08,960 Speaker 1: was kind of the catalyst. In France. It's a marcus. 383 00:18:09,000 --> 00:18:10,440 Speaker 1: There is a lot of it. The mercacy lost the 384 00:18:10,480 --> 00:18:16,840 Speaker 1: trade deal with Paraguay, Uruguay, Brazil and Argentina. That trade deal, 385 00:18:16,960 --> 00:18:19,879 Speaker 1: like says be Negotiats twenty was signed in twenty nineteen 386 00:18:19,880 --> 00:18:22,800 Speaker 1: after twenty years of negotiation. But that is seen that 387 00:18:22,880 --> 00:18:24,680 Speaker 1: France is a big threat to the French economy click 388 00:18:24,760 --> 00:18:26,720 Speaker 1: because of the beef and stuff. That stuff that's coming up. 389 00:18:26,760 --> 00:18:30,000 Speaker 1: Also whine as well could come up. So Marcron has 390 00:18:30,040 --> 00:18:33,159 Speaker 1: said he wants you to stop the negotiation, stop the 391 00:18:33,520 --> 00:18:36,960 Speaker 1: gratification of that trade deal. You came out again, i 392 00:18:37,000 --> 00:18:39,520 Speaker 1: think previously and said they will continue talking. But if 393 00:18:39,840 --> 00:18:43,160 Speaker 1: France votes against it, Francis le veto Irelands, of veto Australia, 394 00:18:43,240 --> 00:18:45,040 Speaker 1: Armon's going to eat one. So if they can't get 395 00:18:45,040 --> 00:18:49,480 Speaker 1: that trade over the line and French politics right now 396 00:18:49,520 --> 00:18:51,159 Speaker 1: it looks like France is going to vote against it, 397 00:18:51,480 --> 00:18:53,480 Speaker 1: then that's gonna be a problem. But that's also then 398 00:18:53,880 --> 00:18:56,840 Speaker 1: a problem for Germany because the trade deal Marketer is 399 00:18:56,840 --> 00:18:59,119 Speaker 1: a full free trade deal and the Germanys want to 400 00:18:59,160 --> 00:19:02,200 Speaker 1: sell cars German character back on the headline again, Rembery 401 00:19:02,240 --> 00:19:04,600 Speaker 1: wants to sell Carris into Brazil. So it's kind of 402 00:19:04,640 --> 00:19:06,560 Speaker 1: there's a real push and show count there Ireland, even 403 00:19:06,960 --> 00:19:09,600 Speaker 1: we have a huge pharmaceutical sector here, so the Irish 404 00:19:09,640 --> 00:19:12,920 Speaker 1: government kind of isn't that much against Marketers, even though 405 00:19:12,960 --> 00:19:15,360 Speaker 1: it might mean there's more beef coming in from South 406 00:19:15,400 --> 00:19:17,920 Speaker 1: America to Europe, reducing the margins and rish beef farmers 407 00:19:17,960 --> 00:19:20,240 Speaker 1: can make because we'll make more money on pharmaceuticals. So 408 00:19:20,480 --> 00:19:24,280 Speaker 1: it is these are very complex. I think it's kind 409 00:19:24,320 --> 00:19:26,920 Speaker 1: of situation to kind of get a solution to what 410 00:19:27,080 --> 00:19:29,560 Speaker 1: the problems are obvious or can I have a very 411 00:19:29,760 --> 00:19:31,800 Speaker 1: go back to your question on the sorry on the 412 00:19:32,560 --> 00:19:36,560 Speaker 1: on the Irish farmers. Irish farmers are obviously the derogation 413 00:19:36,600 --> 00:19:38,119 Speaker 1: is the big problem at the moment with the night 414 00:19:38,240 --> 00:19:40,840 Speaker 1: rates thing, the problem with the water. But Irish farmers 415 00:19:40,920 --> 00:19:43,560 Speaker 1: right now are busy calving gowns, so they have to 416 00:19:43,600 --> 00:19:45,520 Speaker 1: be really cross they get out of their busy period. 417 00:19:45,760 --> 00:19:47,760 Speaker 1: Whereas if you're in Europe and you're autility farmer, this 418 00:19:47,880 --> 00:19:49,879 Speaker 1: is not your indusire quite period, so you can out 419 00:19:49,960 --> 00:19:51,800 Speaker 1: set fire to the European Parliament wherever you need to 420 00:19:51,800 --> 00:19:52,320 Speaker 1: do at the moment. 421 00:19:53,359 --> 00:19:55,600 Speaker 2: Well, Lorgan, I have a really important question, which is 422 00:19:55,760 --> 00:19:58,679 Speaker 2: whatever happened to the cows that you named after us? 423 00:19:58,760 --> 00:20:00,680 Speaker 2: I assume they're long gone, but there was like a 424 00:20:00,760 --> 00:20:02,800 Speaker 2: Joe cow, a Tracy cow, and I think there was 425 00:20:02,840 --> 00:20:03,400 Speaker 2: a Luke cow. 426 00:20:05,840 --> 00:20:07,639 Speaker 1: Luke Cowell was was the first to go to get 427 00:20:07,680 --> 00:20:11,600 Speaker 1: the chop. I think Luca was a fine fine He 428 00:20:11,720 --> 00:20:14,640 Speaker 1: went off to be burgers many years ago. Tracy I'm 429 00:20:14,640 --> 00:20:18,080 Speaker 1: sure is still around because they were breeding cows and 430 00:20:18,440 --> 00:20:21,320 Speaker 1: she Tracy up to be a good looking heifer last time. 431 00:20:22,480 --> 00:20:24,480 Speaker 2: It's not the first time I've been called a good 432 00:20:24,520 --> 00:20:29,520 Speaker 2: looking halfer ony. 433 00:20:30,359 --> 00:20:33,960 Speaker 1: Yeah, but Joka was definitely that. Jo burgers as well 434 00:20:34,400 --> 00:20:36,879 Speaker 1: or fine steak. I'm sure I. 435 00:20:37,000 --> 00:20:39,159 Speaker 3: Missed you, lark and it's uh, we should do this 436 00:20:39,280 --> 00:20:39,800 Speaker 3: more often. 437 00:20:40,440 --> 00:20:43,639 Speaker 2: Yeah, this is a larkan. I actually have like some 438 00:20:43,880 --> 00:20:47,200 Speaker 2: concrete tree advice that I need from you because I've 439 00:20:47,240 --> 00:20:50,040 Speaker 2: got all these like interesting trees on two acres in 440 00:20:50,080 --> 00:20:52,920 Speaker 2: Connecticut now, including I'm very excited. 441 00:20:52,600 --> 00:20:56,200 Speaker 1: About her claim to be a small holder. Now, yeah, 442 00:20:56,240 --> 00:20:56,560 Speaker 1: that's right. 443 00:20:56,600 --> 00:21:00,879 Speaker 2: I've gone into farming. Joe's really sick of hearing me 444 00:21:01,000 --> 00:21:04,440 Speaker 2: talk about this. But we found a tree that might 445 00:21:04,600 --> 00:21:07,639 Speaker 2: be an American chestnut, and so we're trying to figure 446 00:21:07,680 --> 00:21:10,720 Speaker 2: out how to deal with that and protect it and 447 00:21:10,840 --> 00:21:13,399 Speaker 2: what we can do. And someone might come over and 448 00:21:13,600 --> 00:21:16,480 Speaker 2: hand pollinate it in the spring, so that'll be exciting. 449 00:21:17,040 --> 00:21:19,359 Speaker 1: That's very exciting. So you've only got one, so you 450 00:21:19,480 --> 00:21:21,640 Speaker 1: need two trees to mate? Is that your problem? Yeah? 451 00:21:21,760 --> 00:21:26,119 Speaker 2: And there are well, there are not many American chestnuts left. 452 00:21:26,200 --> 00:21:28,920 Speaker 2: They all sort of went functionally extinct in the early 453 00:21:29,000 --> 00:21:30,879 Speaker 2: nineteen hundred, so someone has to come and do it 454 00:21:30,920 --> 00:21:33,240 Speaker 2: by hand. And the trees like fifty feet tall, So 455 00:21:33,320 --> 00:21:34,520 Speaker 2: I don't know how they're going to do it, but 456 00:21:34,720 --> 00:21:35,760 Speaker 2: it'll be interesting to watch. 457 00:21:36,000 --> 00:21:36,240 Speaker 4: Cool. 458 00:21:37,040 --> 00:21:40,159 Speaker 1: That's like artificialssemination. We don't know the lan turns up 459 00:21:40,200 --> 00:21:41,399 Speaker 1: and gets the cow pregnant. 460 00:21:41,960 --> 00:21:44,200 Speaker 2: Can I just say, I cannot wait until this goes 461 00:21:44,359 --> 00:21:47,280 Speaker 2: on the radio and we're just talking about like cow 462 00:21:47,480 --> 00:21:51,000 Speaker 2: farts and slurry and artificial insemination. This is going to 463 00:21:51,040 --> 00:21:52,640 Speaker 2: wake someone up on a Saturday. 464 00:21:53,560 --> 00:21:56,159 Speaker 1: I'll tell you what. The introduction of AI into the 465 00:21:56,280 --> 00:22:01,360 Speaker 1: general discourse has really messed up my SEO on my fire. 466 00:22:01,280 --> 00:22:12,760 Speaker 3: Art lots More is produced by Carmen Rodriguez and dash 467 00:22:12,760 --> 00:22:15,399 Speaker 3: Ol Bennett, with help from Moses Onam and kil Brooks. 468 00:22:15,880 --> 00:22:19,000 Speaker 2: Our sound engineer is Blake Maples. Sage Bauman is the 469 00:22:19,040 --> 00:22:20,399 Speaker 2: head of Bloomberg Podcasts. 470 00:22:21,040 --> 00:22:24,359 Speaker 3: Please rate, review, and subscribe to Odd, Lots and lots 471 00:22:24,440 --> 00:22:27,240 Speaker 3: More on your favorite podcast platforms. 472 00:22:27,400 --> 00:22:30,119 Speaker 2: And remember that Bloomberg subscribers can listen to all our 473 00:22:30,200 --> 00:22:34,800 Speaker 2: podcasts ad free by connecting through Apple Podcasts. Thanks for listening.