Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order Kerni Whoaltbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow. Let's get into it.
Speaker 2: She's on the Money, She's on the Money.
Speaker 3: Hello, and welcome to She's on the Money the podcast
Speaker 3: here to make sense of every financial shakeup out there,
Speaker 3: and yes, that includes the ones happening across the Pacific today.
Speaker 3: After a little while, I've decided to dive into one
Speaker 3: of the biggest headlines of twenty twenty four, Donald Trump's
Speaker 3: return to the Oval Office. My friends, my name is
Speaker 3: Victoria Devine and I have had so many of you
Speaker 3: sliding into my dms asking me to make sense of
Speaker 3: what is happening in the US and how it will
Speaker 3: affect us here in Australia, and I get it. The
Speaker 3: US is a huge player on the world stage, and
Speaker 3: when big shifts happen there, we often feel the effects
Speaker 3: over here too. You might be thinking, how do people
Speaker 3: vote for him? Trump's track record includes policies harmful to
Speaker 3: women's rights. He's been vocal in his opposition to reproductive rights,
Speaker 3: pushed for conservative justices who support rolling back access to abortion,
Speaker 3: and has consistently dismissed or minimized gender equality issues. But
Speaker 3: here's the thing. Trump has made some big promises about
Speaker 3: tackling the cost of living christ and regardless about whether
Speaker 3: his policies are going to help for many Americans, that
Speaker 3: message struck a chord with inflation, rising energy prices, and
Speaker 3: everyday costs hitting harder there than they even are here.
Speaker 3: He campaigned on a platform that promised relief, pledging to
Speaker 3: lower taxes, reduce energy costs by supporting oil and gas production,
Speaker 3: and cut back on regulations that he argued drove up
Speaker 3: prices for people struggling to make ends meet. These promises
Speaker 3: offered a really beautiful glimmer of hope, and they voted
Speaker 3: in the way that they felt most likely to ease
Speaker 3: the squeeze on their wallets in a lot of ways.
Speaker 3: It's a reminder that economic pressures can powerfully influence voting decisions.
Speaker 3: So let's start with one of Trump's biggest selling points,
Speaker 3: you could say, tariffs, especially on China. For many of
Speaker 3: his supporters, the idea of tariffs seemed like a way
Speaker 3: to make China pay. But here's the catch. It's not
Speaker 3: actually China that ends up paying these tariffs. It's American
Speaker 3: businesses and consumers who bear the cost. Does tariffs make
Speaker 3: imported goods more expensive? And here's where it gets interesting.
Speaker 3: Since Trump's win, searches for what is a tariff have
Speaker 3: absolutely spiked, a lot of people are realizing that these
Speaker 3: tariffs might not work in the way that they originally thought.
Speaker 2: So.
Speaker 3: While the idea of tariffs was a huge part of
Speaker 3: Trump's platform, the reality is they could slow down economic
Speaker 3: growth and create ripple effects that reach all the way
Speaker 3: here to Australia. China is our largest trading partner, and
Speaker 3: if the US enacts those tariffs and tensions with China
Speaker 3: flares up, Australia's economy could actually feel the pinch. Think
Speaker 3: of it this way. Australia's mining sector Our agriculture and
Speaker 3: energy sectors heavily rely on exports to China. If China's
Speaker 3: economy slows down, or if they retaliate against Trump's tariffs,
Speaker 3: that could mean fewer Aussie exports, which significantly impacts our GDP. Basically,
Speaker 3: less demand for things like iron ore and coal means
Speaker 3: less money flowing back into Australia. And it's not just
Speaker 3: China that's likely to be affected either. Trump's approach to
Speaker 3: trade might actually trigger similar responses in other countries, creating
Speaker 3: what we could call a ripple effect of economic slow
Speaker 3: down that reaches all the way back to US. We're
Speaker 3: talking potential drops in job growth, higher prices on imports,
Speaker 3: and just a whole lot of uncertainty. All right, Let's
Speaker 3: get into Trump's plan to cut the US corporate tax
Speaker 3: rate from twenty one percent to fifteen percent, and how
Speaker 3: that might actually change things up a bit globally, especially
Speaker 3: here in Australia. So lowering a corporate tax rate means
Speaker 3: that the US is a lot more attractive for businesses,
Speaker 3: potentially pulling in more multinational corporations and really big investors
Speaker 3: who are eyeing that lower tax bil Now in Australia,
Speaker 3: we have a thirty percent corporate tax rate for larger companies,
Speaker 3: which suddenly looks pretty high in comparison. So if Trump's
Speaker 3: tax cut goes through and they get to pay half
Speaker 3: of the tax that we do, it could pressure Australia
Speaker 3: to consider a similar tax cut to stay competitive. What's
Speaker 3: the risk there, Well, without tax revenue from those big corporations,
Speaker 3: the government might have to make up for it by
Speaker 3: cutting spending or raising other taxes. And it's not just
Speaker 3: about tax rates. This change could actually impact where companies
Speaker 3: are choosing to invest and expand Australian based multinationals for example,
Speaker 3: they might find that the US tax environment is a
Speaker 3: little bit more enticing, and so they channel more of
Speaker 3: their profits through to the American operations to take advantage
Speaker 3: of that lower rate. This could mean less capital flowing
Speaker 3: into the Australian markets and potentially maybe being dramatic, but
Speaker 3: potentially few were jobs created here if companies prioritize their
Speaker 3: US divisions. Plus, if US businesses are going to start
Speaker 3: to grow rapidly due to tax savings, they might not
Speaker 3: reinvest domestically, which might limit the flow of foreign investments
Speaker 3: into Australia. On the flip side, though, a stronger US
Speaker 3: economy could mean more demand for Australian exports like our
Speaker 3: minerals and our gas and our agricultural products. So if
Speaker 3: Trump's tax cuts actually spur growth, Australia might actually see
Speaker 3: increased trade opportunities. But as always, that is going to
Speaker 3: depend on whether the US can manage these changes without
Speaker 3: too much disruption, and that's a big if. So while
Speaker 3: Australia might feel the pressure to lower our corporate tax rate,
Speaker 3: the impact of a decision like that would actually run
Speaker 3: really deep, and it would affect everything from government services,
Speaker 3: to wages and to our employment rates. All Right, guys,
Speaker 3: I could go on and on about this for literally ever.
Speaker 3: I'm going to take a really quick break and on
Speaker 3: the flip side, we'll dive right back in. All right,
Speaker 3: we are back. And another major policy from Trump that
Speaker 3: could actually shake up the US economy and ripple out
Speaker 3: globally is his plan to deport millions of undocumented immigrants.
Speaker 3: This could actually worsen inflation in the US, which has
Speaker 3: managed to tame rising prices partially thanks to a strong
Speaker 3: influx of immigrant workers filling crucial labour gaps. Immigrants have
Speaker 3: made up a huge share of New York workers in
Speaker 3: recent years, especially as baby boomers retire, helping companies hire
Speaker 3: and grow without pushing inflation higher. Financial markets, meanwhile, are
Speaker 3: already in I guess brace mode for these potential changes.
Speaker 3: Investors are expecting US interest rates to climb in response,
Speaker 3: which could create a ripple effect that ultimately influences the
Speaker 3: Reserve Bank of Australia's decisions. In short, Trump's policies could
Speaker 3: mean our interest rates stay higher for longer, impacting literally
Speaker 3: everything from home loan costs to businesses's borrowing, and added
Speaker 3: pressure to household budgets all across Australia. Trump's return to
Speaker 3: office has already caused a bit of a stir in
Speaker 3: the stock market, with traders responding to his pro business
Speaker 3: and deregulation stance. Market spiked, particularly insectors expected to benefit
Speaker 3: from his policies, like oil drilling and financial services, even
Speaker 3: crypto as investors bet on Trump's promises of tax cuts
Speaker 3: and looser regulations. His policies are expected to be very
Speaker 3: I guess business friendly, particularly for big banks and corporate mergers.
Speaker 3: While crypto stocks saw a massive boom with the expectations
Speaker 3: that Trump will be bringing in a more crypto tolerant
Speaker 3: sec chair. On the other hand, sectors like renewable energy
Speaker 3: and electric vehicles took a hit, reflecting concerns that Trump's
Speaker 3: administration will reduce subsidies and then favor oil over green
Speaker 3: energy Companies related to mass deportation efforts like private prison
Speaker 3: operators surged as Trump's immigration stance indicates potential expansion in
Speaker 3: detention services. All in all, it's pretty clear that Trump's
Speaker 3: policies are already shaping market expectations in a really big way.
Speaker 3: Beyond I guess the market trends, Trump's policies reveal, I
Speaker 3: guess deeper dynamics, one that reinforces traditional power structures and
Speaker 3: often leaves women and marginalized groups on the back foot.
Speaker 3: When policies prioritize corporate gain over protections, they're part of
Speaker 3: a system that has consistently restricted our choices and undermined
Speaker 3: our autonomy. So let's see this as I guess a
Speaker 3: call to action. By mastering our finances, we are able
Speaker 3: to break free from these constraints and build the freedom
Speaker 3: that makes decisions that serve us, not just keep those
Speaker 3: people at the top. But I guess here's the reality.
Speaker 3: Everything that we've covered today, from Trump's economic priorities to
Speaker 3: his stance on women's rights, is a reminder that these
Speaker 3: power struck are still working against us. Historically, financial systems
Speaker 3: and political policies have been designed to sideline women, limit
Speaker 3: our options, and keep the scales tipped in the favor
Speaker 3: of entrenched power. But here's where we flip the script
Speaker 3: to my friends. By mastering our financial literacy, we are
Speaker 3: taking back control. We are taking back our power. Building
Speaker 3: financial knowledge isn't just about managing money. It's about challenging
Speaker 3: a system that expects us to play small. When we
Speaker 3: know how to invest and save and budget with confidence,
Speaker 3: we're not just securing our futures. We're refusing to be
Speaker 3: sidelined by policies that just don't have our interests at heart.
Speaker 3: Financial literacy is a radical act of self empowerment. It's
Speaker 3: how we fight back against leaders who often overlook or
Speaker 3: completely undermine our rights. Every single dollar we invest and
Speaker 3: every financial goal that we achieve is a statement that
Speaker 3: we won't be limited by our decisions made in rooms
Speaker 3: we're excluded from. So let's use our financial knowledge to
Speaker 3: dismantle these structures, little bit by little bit and build
Speaker 3: our own systems of power. True independence, true strength lies
Speaker 3: in knowing that our futures are firmly in our own hands,
Speaker 3: not in the hands of leaders who don't have our
Speaker 3: best interests at heart. Before I leave you, though I
Speaker 3: wanted to, I guess end on some good news that
Speaker 3: I've pulled out of this election. Seven states voted to
Speaker 3: enshrine the right to abortion in their constitution. So Colorado,
Speaker 3: New York, Maryland, Montana, Nevada, Arizona, and Missouri. That's right.
Speaker 3: Even in the midst of big changes and challenges, there
Speaker 3: are powerful reminders that progress is still possible. The fact
Speaker 3: that seven states took a stand to protect reproductive rights
Speaker 3: shows that despite setbacks, people are pushing back and making
Speaker 3: their voices heard. Let's keep that momentum going. Change might
Speaker 3: be slow, it might feel really slow, but every step
Speaker 3: we take counts. Policies may shift, but our commitment to
Speaker 3: our values and our future it's rock solid. So let's
Speaker 3: keep pushing for a fairer, stronger future, one where we
Speaker 3: have the knowledge, we have the confidence, and we have
Speaker 3: the power to make choices that truly serve us. My friends,
Speaker 3: that is all from me today, But Please don't forget
Speaker 3: to subscribe so that you never miss out on an episode.
Speaker 3: Keep learning, stay strong, and remember financial freedom is our
Speaker 3: most powerful tool. Have a really good weekend, my friends,
Speaker 3: and I'll see you bright and early from Monday, Money Day.
Speaker 3: The advice shared on She's on the Money is general
Speaker 3: in nature and does not consider your individual circumstances. She's
Speaker 3: on the Money exists purely for educational purposes and should
Speaker 3: not be relied upon to make an investment or financial decision.
Speaker 3: If you do choose to buy a financial product.
Speaker 4: Read the PDS TMD and obtain appropriate financial.
Speaker 3: Advice tailored towards your needs.
Speaker 4: Victoria Divine and Sheese on the Money are authorized representatives
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