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Speaker 1 (00:09):
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Speaker 2 (00:24):
Therapoday and welcome to the rewrap for Wednesday. All the best,
but it's from the Mike Hosking Breakfast on Newstalks EDB
and a Sillier package. I am Glen Hart today, House
prices and a bet that's even the Hoss himself is
not confident he's going to win the Napooi deal and
(00:46):
treaty deals generally. David Seymour, how's he traveling because he's
in charge of us at the moment with the actual
Prime Minister out of the country, and where are self
driving cars going? But before any of that, our mortgage
(01:07):
rates seem to be going down, and surely that's got
to be a good thing.
Speaker 3 (01:11):
Another of the large banks, this time ASB joined the
party yesterday, adjusted the interest rates for borrowers down. Are
the questions given Thursday's GDP number, what happens next? The
great suburban game of do you fix or float? Very
much alive. The Reserve Bank last time indicated that matters
were in hand. They were neither here nor thereover any
more rate cuts, but in general, things took time to
(01:33):
flow through to you and me. In other words, the
previous cuts would take time to arrive in our back pocket.
When they did, we would feel good and life would blossom.
Hence the cuts would be over. Others argue, even if
that's true, look at the economic readings of last week,
the manufacturing, the services sector, the game backwards, and the
dark days of winter have only just arrived. And that's
before you get to this two part bit of the
economy with farmers booming and everyone else seemingly miserable. Then
(01:56):
GDP zero point eight. I mean that alone would stop
a reserve bank in its tracks. Look, they will say,
plenty of growth and good times there, and our moves
have barely begun to sink in. So the point being
I comes and they don't move, and August comes and
they don't move. Is it over? And if it's over,
is what the banks are currently offering as good as
it gets. The banks are full of noise right now,
(02:18):
reminding us all about how fabulous it is compared to
what it was. I mean, ASB say, a one year
affixed right now is two and a half percent lower
than it was eighteen months ago. You o half a
million bucks. You're almost one thousand dollars a month better off.
It's a lot of dough twelve and a half thousand
dollars a year. Yes, it's going on your rates and
your insurance and power because they're screwing you. But you
can't argue you're not materially better off. All that's left
(02:40):
if that's the case, is interbank competition as they jostle
for market char And despite what the Consumer's Institute and
Nicola will tell you, there is competition, and banks do
and will do deals. But the next trick is, if
this is it, this is your new normal, welcome to it.
How do you feel? How do you feel like, I mean,
of these the good times and you want to spend
a bit of money. That is the great economic conundrum,
(03:02):
isn't it. That is the psychology of an economy and
the great potentially saving grace for a government.
Speaker 2 (03:08):
Yes, yes, yes, green shoots, green shoots. I keep hearing
about green shoots. Keep those green shoots coming.
Speaker 1 (03:16):
It's the rewrap.
Speaker 2 (03:17):
Oh, I've been at the house. Prices put on down
em and they and not even Mike thought that was
going to happen.
Speaker 3 (03:25):
Tell you what my lunch with Andrew callaher the ongoing
bit for the year. I said, he's claiming seven. Let's
say he's right. So he sold his company yesterday and
so he's a happy man. So I want to I
want to join in that joy. He claims, I said
seven percent. I said seven percent growth for houses this year.
As I sit here this late June morning, I am
in deep fear that I'm losing this bet. And B
(03:46):
and Z came out yesterday with a readjustment of their
housing forecast for the year. They thought five to seven,
so even at seven I was optimistic. According to bm Z,
they're now down to two to four. So I guess
I'm paying But that's okay, But I'd like the housing
market to grow just a little bit more.
Speaker 2 (04:04):
You know, there's a lot of gambling going on adjacent
to me, and I don't understand. I've never understood gambling.
I don't get it.
Speaker 4 (04:14):
Right.
Speaker 2 (04:16):
Our big Boss, Jason, I call him that because he's
at the top of the food chain, not because he's big.
What size he is, it's not relevant. What is relevant
is that he put money on the panthers, I believe
(04:38):
in the weekend, and it was because they were paying
over four dollars or something, and he so he won money.
But you see even that that's not like winning Loto,
is it. He put twenty dollars on and he got
eighty dollars back or something. So and you only ever
hear about when when they when I actually know for
(04:58):
a fact that he then made a stupid bet the
Crusaders Chiefs game. He had the Crusader's winning to buy
a lot more than what they did, so that didn't
work out for him. So yeah, but you hear about
those winds, but the winds are not that spectacular generally speaking.
(05:19):
And now we've got Mike betting with Andrew Callagher, We've
had Sam producer, Sam betting with the Prime Minister. I'm
not a fan. I don't understand betting, all right, So
the Napoolie deal is done more or less?
Speaker 4 (05:41):
Are we?
Speaker 2 (05:41):
Are we all done anymore? For any more?
Speaker 3 (05:43):
Question for you was Shane Jones showing the Treaty Minister
Paul Goldsmith how to run his own portfolio. So Goldsmith,
in response to Jones and his members Bill on the
never ending Napooy drama, says the protest process can't go
on forever. Which is the same basically as saying nothing,
because clearly it is and Goldsmith clearly has no plan.
The Jones Bill that we talked about on the program
this time yesterday clever because my sense of it is
(06:05):
there was so much in fighting in the north of
the country. They will be though, just out of sheer,
bloody mindedness. They'll never strike a deal. All the logic
that we heard yesterday about tribes that have cut deals
and invested billions and seeing the endless benefits will have
missed their mark. In Northland given a lot of napoo,
we aren't interested in a deal. They thrive on descent
and division and permanent anger and grievance. Jim Bolger, who
(06:28):
I know in the past few weeks as he celebrated
his ninetieth is still prone to the odd piece of
public commentary, might like to have pondered his own role
in this many many many years ago when they started
to put a few road markers around time frames. Now,
the idea, if you went around at the time you
can't remember, the idea was they would set a date
to file your claim. Remembering even in Bolger's day, the
White tengu Tribunal had been going since the seventies for
(06:50):
goodness sake, and once you filed that claim they would
impose another deadline to get it all wrapped up. Good idea,
but it went nowhere because Bolger and co. Got sucked
into the idea. This was unfair, It was rushed, It
was history. What wasn't set out loud, of course, is
this was a gravy train that could go on literally forever,
and people were going to make a living out of it.
As Jones revealed yesterday, twenty million dollars for thy Napoui alone,
(07:15):
just for lunch and chats and airfares. Do remember nineteen
seventy five the start of the Wai Tangi Tribunal was
a good will gesture. The tribunal, the settlement of grievances,
was entered into not because anyone had to, but because
it was the right thing to do. It was driven
by goodwill. I would have thought it was fairly obvious,
and the vast array of deals to be done and
the apologies to be made like life. Some would embrace
(07:36):
it and run with it. Some would be unable to
get out of their own way. What was needed but
was missing still is Jones aside was leadership, the setting
of the boundaries, the explanation of the rules and expectations,
and because that was missing, so it was twenty million
on lunch and still no deal.
Speaker 4 (07:54):
Yeah, I think you'd have to say that the Huskers
is not the greatest fan of the treaty settlement process
and what a process it is, to be honest, I
don't know that David Seymour is either, and he's in
charge at the moment. Couldn't he just sort it out
(08:16):
or did he have a bit more on his plate
yesterday afternoon.
Speaker 3 (08:19):
So Audrey Young, the fabulous Audrey Young this morning rates
and Prime Minister David Seymour deputy not deputy well, deputy
prime Minister, but fill and prime Minister. She gives him
a rating for question time yesterday. It was his first
question time as the film and Prime Minister. He got
a seven. I probably would have gone to an eight,
but I'm just generous like that, and Audrey is hard
(08:39):
so anyway, seven or eight, but we broadly agree. Switched seamlessly,
she says, writing in the Herald this morning. Switched seamlessly
from one subject to another wit as quick as longie
pair of fangs, as mean as Muldoon, Middle East regulatory standards,
Bill Napooe settlement, cost of libbing, Cork Island's a groom
with China, comments made in the UK about smokers and smoking.
Laurie dealt with it all. It's very very good. I
(08:59):
thought he was very good, very measured, moderately funny every
now and again. The Simmian line that our referenced to
the moment ago very clever. She also writes his press
conference Monday, which I happened to watch as well. So
Audrey and I are the two saddest people in the country,
but nevertheless we enjoy ourselves and we're happy in our
own skin. She gave him an eight. I gave it
at least an eight. He was good humored about it.
(09:20):
The media were trying to get him. Their question line
was interesting in that needle needle need log is told
say something random kind of way didn't fall for it.
I note there's a couple of people in the gallery
who I will not name, because once again I'm a
nice guy, who were desperate to get a few questions,
and and David deliberately, I'm almost certain, deliberately ignored them.
So he didn't have to roll his eyes and go,
(09:40):
you're a dickhead, stop asking silly questions. So they didn't
get a question. But overall, I think as a prime minister,
now here's my take, I can see this is a
very blessed government in terms of talent. Peters has got
natural institutional history, legacy, and a sense of awareness about
him that makes him a valued member. Seymour was exceedingly bright,
(10:03):
although slightly wonkish at times, and that's why Luxon isn't
seen in the light he should be, because Luxon against
those two doesn't look that flash. Hence the Poles tell
you the story. I like lux and Luxon is better
than some people perceive them to be. But when you
compare the three together you can see why he's got
some of the problems he has.
Speaker 2 (10:20):
Yeah, I don't think you want your lead guitarist and
your drummer being more popular than the lead singer. That
generally doesn't work out that well, and eventually Phil Collins
just goes on to have a much more successful career.
I'm quite sure I went wrong with that metaphor that
(10:42):
went off the rail somewhere, so rerap thing of going
off the rails. Self driving cars we've all got one now, right,
like we were supposed to have.
Speaker 3 (10:52):
If I get time, I'll come back to it. I
weren't meant to do it yesterday and didn't even have
a time then. But anyway, and on Monday in Austin, Texas,
Tearesler launched their driver's car. Now, the driver's car industry
is a cataclysmic cockup at the moment because there's no
shortage of people have given it a go and no
shut to people who have fallen over. And I'll give
you some of their names and numbers around it later on.
(11:12):
But Tesla started on Monday. That's what I was going
to tell you until yesterday when it fell apart in
the most spectacular fashion. It was a complete and utter bust.
And the irony of it being Elon's been spreaking this
for a decade and Monday was the day. And Monday
could not have gone worse for him. Mike Tesla's shares
(11:34):
are up fourteen percent since Monday. Yeah, let me come
back to that. That's the madness of it. As soon
as Elon said, hey, We're going to Austin, Texas, all
the idiots yet again got sucked and went, oh, Elon
said something really interesting. I'll put some of my money
into it, only for the cars to drive off the
road Austin, Texas, just by by a background driver as
car's cruise now defunct. That was the business of General
(11:55):
Motors granted its fleet in late twenty three operating license
suspended in California. Uber ceased testing self driving vehicles after
one of its subs struck and killed the pedestrian an Arizona.
In twenty eighteen, company agreed to sell itself driving business Waimo,
owned by Alphabet, scaling up throughout the partnership with Uber.
Amazon's Zooks is testing at the moment. Basically, they're all
(12:18):
in Texas because the laws are hilly loose in Texas.
You can carry a gun, you can have a car
with no driver. That's how Texas works, so fewer restrictions anyway,
So it was all on Austin, Texas Monday. Unfortunately, after
day number one, the NHTSA, the National Highway Traffic Safety Administration,
had seen a few videos on the social media and
(12:40):
they rang mister Elon. They said, mister Elon, just wondering
if you couldn't supply us with a few details driving
in a chaotic manner on public roads was the overarching
theme of what happened on Monday. Car spotted traveling the
wrong way down a road wrong way. Do remember, by
the way, these were all Tesla model Wise, there was
a person in there, not just a passenger, but a
(13:02):
person in the front passenger seat for safety. So I
don't know what the person placed there by Tesla did
as the car was driving down the wrong way, but
they clearly did nothing. Another was shown to be breaking
hard in the middle of traffic responding to a quote
unquote stationary police vehicle outside its driving path. So in
other words, it's saw a police car and just slammed
(13:23):
on the brakes and so this went on. So they
need a word with Tesla, and the whole thing's, you know,
day one falling apart at a rate of knots.
Speaker 2 (13:30):
I was just thinking about this the other day when
I was reviewing the latest debot from eco Vas the
robot Vacuum. Amazing, amazing device does a tremendous job of
not getting snagged up in the domestic manager's hair dryer cord,
because that would be bad. If it did that, it
(13:52):
might pull the hair dryer off and break the hair dryer,
but it doesn't. And I was just thinking it's amazing
that they can get that right, but they still can't
do the self driving cars. I am a glen hat.
That was the rewrap and we'll be back to sorry
with more. I'll be operating at manually as.
Speaker 1 (14:10):
Usual the rerap For more from News Talk set B
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