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Speaker 1: Hello.

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Speaker 2: My name is Sanatasha Nabananga Bamblet. I'm a proud or

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Speaker 2: the Order Kerni Whaltbury and a waddery woman. And before

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Speaker 2: we get started on She's on the Money podcast, I

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Speaker 2: would like to acknowledge the traditional custodians of the land

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Speaker 2: of which this podcast is recorded on a wondery country,

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Speaker 2: acknowledging the elders, the ancestors and the next generation coming

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Speaker 2: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 2: and the storytelling of you to make a difference for

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Speaker 2: today and lasting impact for tomorrow.

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Speaker 1: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 4: Hello, and welcome to She's on the Money the podcast

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Speaker 4: here to make sense of every financial shakeup out there,

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Speaker 4: and yes, that includes the ones happening.

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Speaker 1: Across the Pacific today.

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Speaker 4: After a little while, I've decided to dive into one

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Speaker 4: of the biggest headlines of twenty twenty four, Donald Trump's

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Speaker 4: return to the Oval Office. My friends, my name is

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Speaker 4: Victoria Devine and I have had so many of you

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Speaker 4: sliding into my dms asking me to make sense of

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Speaker 4: what is happening in the US and how it will

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Speaker 4: affect us here in Australia, and I get it. The

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Speaker 4: US is a huge player on the world stage, and

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Speaker 4: when big shifts happen there, we often feel the effects

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Speaker 4: over here too. You might be thinking, how do people

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Speaker 4: vote for him? Trump's track record includes policies harmful to

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Speaker 4: women's rights. He's been vocal in his opposition to reproductive rights,

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Speaker 4: pushed for conservative justices who support rolling back access to abortion,

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Speaker 4: and has consistently dismissed or minimized gender equality issues. But

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Speaker 4: here's the thing. Trump has made some big promises about

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Speaker 4: tackling the cost of living christ and regardless about whether

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Speaker 4: his policies are going to help for many Americans, that

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Speaker 4: message struck a chord with inflation, rising energy prices, and

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Speaker 4: everyday costs hitting harder there than they even are here.

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Speaker 4: He campaigned on a platform that promised relief, pledging to

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Speaker 4: lower taxes, reduce energy costs by supporting oil and gas production,

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Speaker 4: and cut back on regulations that he argued drove up

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Speaker 4: prices for people struggling to make ends meat. These promises

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Speaker 4: offered a really beautiful glimmer of hope, and they voted

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Speaker 4: in the way that they felt most likely to ease

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Speaker 4: the squeeze on their wallets in a lot of ways.

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Speaker 4: It's a reminder that economic pressures can powerfully influence voting decisions.

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Speaker 4: So let's start with one of Trump's biggest selling points,

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Speaker 4: you could say, tariffs, especially on China. For many of

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Speaker 4: his supporters, the idea of tariffs seemed like a way

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Speaker 4: to make China pay. But here's the catch. It's not

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Speaker 4: actually China it ends up paying these tariffs. It's American

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Speaker 4: businesses and consumers who bear the cost. Does tariffs make

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Speaker 4: imported goods more expensive? And here's where it gets interesting.

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Speaker 4: Since Trump's win, searches for what is a tariff have

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Speaker 4: absolutely spiked, a lot of people are realizing that these

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Speaker 4: tariffs might not work in the way that they originally thought.

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Speaker 2: So.

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Speaker 4: While the idea of tariffs was a huge part of

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Speaker 4: Trump's platform, the reality is they could slow down economic

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Speaker 4: growth and create ripple effects that reach all the way

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Speaker 4: here to Australia. China is our largest trading partner, and

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Speaker 4: if the US enacts those tariffs and tensions with China

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Speaker 4: flares up, Australia's economy could actually feel the pinch.

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Speaker 1: Think of it this way.

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Speaker 4: Australia's mining sector Our agriculture and energy sectors heavily rely

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Speaker 4: on exports to China. If China's economy slows down, or

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Speaker 4: if they retaliate against Trump's tariffs, that could mean fewer

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Speaker 4: Aussie exports, which significantly impacts our GDP. Basically, less demand

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Speaker 4: for things like iron ore and coal means less money

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Speaker 4: flowing back into Australia. And it's not just China that's

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Speaker 4: likely to be affected either. Trump's approach to trade might

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Speaker 4: actually trigger similar responses in other countries, creating what we

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Speaker 4: could call a ripple effect of economic slowdown that reaches

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Speaker 4: all the way back to US. We're talking potential drops

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Speaker 4: in job growth, higher prices on imports, and just a

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Speaker 4: whole lot of uncertainty. All right, Let's get into Trump's

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Speaker 4: plan to cut the US corporate tax rate from twenty

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Speaker 4: one percent to fifteen percent, and how that might actually

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Speaker 4: change things up a bit globally, especially here in Australia.

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Speaker 4: So lowering the corporate tax rate means that the US

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Speaker 4: is a lot more attractive for businesses, potentially pulling in

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Speaker 4: more multinational corporations and really big investors who are eyeing

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Speaker 4: that lower tax bil Now in Australia, we have a

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Speaker 4: thirty percent corporate tax rate for larger companies, which suddenly

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Speaker 4: looks pretty high in comparison. So if Trump's tax cut

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Speaker 4: goes through and they get to pay half of the

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Speaker 4: tax that we do, it could pressure Australia to consider

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Speaker 4: a similar tax cut to stay competitive. What's the risk there, Well,

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Speaker 4: without tax revenue from those big corporations, the government might

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Speaker 4: have to make up for it by cutting spending or

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Speaker 4: raising other taxes. And it's not just about tax rates.

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Speaker 4: This change could actually impact where companies are choosing to

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Speaker 4: invest and expand. Australian based multinationals, for example, they might

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Speaker 4: find that the US tax environment is a little bit

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Speaker 4: more enticing, and so they channel more of their profits

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Speaker 4: through to the American operations to take advantage of that

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Speaker 4: lower rate. This could mean less capital flowing into the

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Speaker 4: Australian markets and potentially maybe being dramatic, but potentially fewer

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Speaker 4: jobs created here if companies prioritize their US divisions. Plus,

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Speaker 4: if US businesses are going to start to grow rapidly

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Speaker 4: due to tax savings, they might not reinvest domestically, which

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Speaker 4: might limit the flow of foreign investments into Australia. On

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Speaker 4: the flip side, though, a stronger US economy could mean

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Speaker 4: more demand for Australian exports like our minerals and our

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Speaker 4: gas and our agricultural products.

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Speaker 1: So if Trump's.

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Speaker 4: Tax cuts actually spur growth, Australia might actually see increased

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Speaker 4: trade opportunities. But as always, that is going to depend

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Speaker 4: on whether the US can manage these changes without too

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Speaker 4: much disruption, and that's a big if. So while Australia

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Speaker 4: might feel the pressure to lower our corporate tax rate,

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Speaker 4: the impact of a decision like that would actually run

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Speaker 4: really deep, and it would affect everything from government services,

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Speaker 4: to wages and to our employment rates.

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Speaker 1: All Right, guys, I could go.

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Speaker 4: On and on about this for literally ever. I'm going

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Speaker 4: to take a really quick break and on the flip side,

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Speaker 4: we'll dive right back in.

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Speaker 1: All right, we are back.

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Speaker 4: And another major policy from Trump that could actually shake

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Speaker 4: up the US economy and ripple out globally is his

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Speaker 4: plan to deport millions of undocumented immigrants. This could actually

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Speaker 4: worsen inflation in the US, which has managed to tame

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Speaker 4: rising prices partially thanks to a strong influx of immigrant

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Speaker 4: workers filling crucial labor gaps. Immigrants have made up a

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Speaker 4: huge share of New York workers in recent years, especially

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Speaker 4: as baby boomers retire, helping companies hire and grow without

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Speaker 4: pushing inflation higher. Financial markets, meanwhile, are already in I

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Speaker 4: guess brace mode for these potential changes. Investors are expecting

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Speaker 4: US interest rates to climb in response, which could create

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Speaker 4: a ripple effect that ultimately influences the Reserve Bank of

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Speaker 4: Australia's decisions. In short, Trump's policies could mean OW interest

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Speaker 4: rates stay higher for longer, impacting literally everything from home

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Speaker 4: loan costs to businesses borrowing, and added pressure to household

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Speaker 4: budgets all across Australia. Trump's return to office has already

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Speaker 4: caused a bit of a stir in the stock market,

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Speaker 4: with traders responding to his pro business and deregulation stance

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Speaker 4: market spike, particularly insectors expected to benefit from his policies,

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Speaker 4: like oil drilling and financial services, even crypto as investors

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Speaker 4: bet on Trump's promises of tax cuts and looser regulations.

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Speaker 1: His policies are expected.

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Speaker 4: To be very I guess business friendly, particularly for big

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Speaker 4: banks and corporate mergers. While crypto stocks saw a massive

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Speaker 4: boom with the expectations that Trump will be bringing in

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Speaker 4: a more crypto tolerant sec chair. On the other hand,

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Speaker 4: sectors like renewable energy and electric vehicles took a hit,

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Speaker 4: reflecting concerns that Trump's administration will reduce subsidies and then

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Speaker 4: favor oil over green energy companies related to mass deportation

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Speaker 4: efforts like private prison operators surged as Trump's immigration stance

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Speaker 4: indicates potential expansion in detention services. All in all, it's

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Speaker 4: pretty clear that Trump's policies are already shaping market expectations

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Speaker 4: in a really big way. Beyond I guess the market trends,

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Speaker 4: Trump's policies reveal, I guess deeper dynamics, one that reinforces

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Speaker 4: t traditional power structures and often leaves women and marginalized

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Speaker 4: groups on the back foot. When policies prioritize corporate gain

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Speaker 4: over protections, they're part of a system that has consistently

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Speaker 4: restricted our choices and undermined our autonomy. So let's see

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Speaker 4: this as I guess a call to action. By mastering

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Speaker 4: our finances, we are able to break free from these

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Speaker 4: constraints and build the freedom that makes decisions that serve us,

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Speaker 4: not just keep those people at the top. But I

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Speaker 4: guess here's the reality. Everything that we've covered today, from

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Speaker 4: Trump's economic priorities to his stance on women's rights, is

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Speaker 4: a reminder that these power struck are still working against us. Historically,

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Speaker 4: financial systems and political policies have been designed to sideline women,

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Speaker 4: limit our options, and keep the scales tipped in the

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Speaker 4: favor of entrenched power. But here's where we flip the

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Speaker 4: script to my friends. By mastering our financial literacy, we

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Speaker 4: are taking back control. We are taking back our power.

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Speaker 4: Building financial knowledge isn't just about managing money. It's about

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Speaker 4: challenging a system that expects us to play small. When

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Speaker 4: we know how to invest and save and budget with confidence,

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Speaker 4: we're not just securing our futures. We're refusing to be

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Speaker 4: sidelined by policies that just don't have our interests at heart.

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Speaker 4: Financial literacy is a radical act of self empowerment. It's

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Speaker 4: how we fight back against leaders who often overlook or

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Speaker 4: completely undermine our rights. Every single dollar we invest and

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Speaker 4: every financial goal that we achieve is a statement that

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Speaker 4: we won't be limited by our decisions made in rooms

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Speaker 4: that we're excluded from. So let's use our financial knowledge

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Speaker 4: to dismantle these structures. Little bit by little bit and

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Speaker 4: build our own systems of power. True independence, true strength

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Speaker 4: lies in knowing that our futures are firmly in our

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Speaker 4: own hands, not in the hands of leaders who don't

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Speaker 4: have our best interests at heart. Before I leave you,

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Speaker 4: though I wanted to, I guess end on some good

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Speaker 4: news that I've pulled out of this election. Seven states

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Speaker 4: voted to enshrine the right to abortion in their constitution.

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Speaker 4: So Colorado, New York, Maryland, Montana, Nevada, Arizona, and Missouri.

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Speaker 1: That's right.

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Speaker 4: Even in the midst of big changes and challenges, there

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Speaker 4: are powerful reminders that progress.

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Speaker 1: Is still possible.

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Speaker 4: The fact that seven states took a stand to protect

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Speaker 4: reproductive rights shows that despite setbacks, people are pushing back

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Speaker 4: and making their voices heard. Let's keep that momentum going.

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Speaker 4: Change might be slow, it might feel really slow, but

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Speaker 4: every step we take counts. Policies may shift, but our

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Speaker 4: commitment to our values and our future it's rock solid.

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Speaker 4: So let's keep pushing for a fairer, stronger future, one

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Speaker 4: where we have the knowledge, we have the confidence, and

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Speaker 4: we have the power to make choices that truly serve us.

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Speaker 4: My friends, that is all from me today. But please

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Speaker 4: don't forget to subscribe so that you never miss out

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Speaker 4: on an episode. Keep learning, stay strong, and remember financial freedom.

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Speaker 1: Is our most powerful tool.

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Speaker 4: Have a really good weekend, my friends, and I'll see

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Speaker 4: you brighten early from.

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Speaker 1: Monday Money Day.

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Speaker 5: The IF I shared on She's on the Money is

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Speaker 5: general in nature and does not consider your individual circumstances.

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Speaker 5: She's on the Money exists purely for educational purposes and

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Speaker 5: should not be relied upon to make an investment or

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Speaker 5: financial decision.

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Speaker 4: If you do choose to buy a financial product.

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Speaker 5: Read the PDS TMD and obtain appropriate financial.

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Speaker 4: Advice tailored towards your needs.

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Speaker 5: Victoria Divine and She's on the Money are authorized representatives

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Speaker 5: of Money sherper P t y lt D A b

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Speaker 5: N three two one six four nine two seven seven

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Speaker 5: zero eight AFS L four five one two eight nine