THE RE-WRAP: Running the Asylum

THE BEST BITS IN A SILLIER PACKAGE (from Monday's Mike Hosking Breakfast) Who Are the Inmates Exactly?/Don't You Listen to the News?/The Problem with Unions/The Problem with Weightloss Drugs/Anemophobia

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Episode Transcript

Speaker 1 (00:09):
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Speaker 2 (00:24):
The Rewrap there and welcome to the Rewrap for Monday.
All the vest that's from the Mic Hosking Breakfast on
Newstalk S'd be in a sillier package onan't glen Hant Today,
an interest break pole with some interesting results. Unions that
what's the problem with unions? Mike's got a problem with unions.

(00:45):
He'll share that with us shortly. Novo Nordisk, the weight
loss drug bubble seems to be first. And what is
aninophobia and why do we have it? But before any
of that, the RB and Z talk about inmates running
the asylum. Just how big is the Islan Asylum and

(01:07):
how many mates are there now?

Speaker 3 (01:09):
Rhetorical question obviously, But why do you think Neil Quigley
quit on a Friday? The key is he would have
been booted if he didn't walk, and so sort of
EANs sort of a shambolic and shameful period for which
we well for what should be one of our most
esteemed institutions. Between Or and mainly Or and Quiggly, they've
made a joke of the Reserve Bank. What should have

(01:30):
happened is simple. When the government decided rightly that the
gargantuane amount of money or wanted to run as fivefton
was never going to fly, or should have in an
adult way, stated he disagreed, and he disagreed to the
point he could not see himself continuing in the job.
He would then resign. They would organize a nice but
frugal farewell morning tea, and that would have been that.

(01:51):
But what actually happened was or Chuckter's toys yelled and
stamped his feet to the extent that the chair quickly
had to write to war. All this was also kept
secret until the Official Information Act and the oldwardsmen forced
their hand and exposed them for the bunch of egotistical
babies they are quickly was yelling at Treasury, or was
yelling at Willis. Deals will looking to be done, letters
and proof was looking to be binned. Checks were being

(02:11):
written to make it all go away. Irony of ironies,
Lest we forget, this is the same group of clowns
who buried the economy in the whole we're still trying
to get ourselves out of years after COVID so they
couldn't do the job. They stuck the place, then packed
massive sads when their rain shower of funding was getting rectified,
started a big tanty scrap with various departments and ministers,

(02:32):
then tried to cover it all up. Have I missed
anything or vanished with the money, never to be heard
from again quickly, to his credit, hung around, made a
few public appearances, tried to paint a picture of normality
until the onwardsmen undid him last week, and that was that.
They really are an embarrassing, shambolic mess. Side note, it
is also why I assume Christian Hawksby stands zero chance

(02:53):
of getting All's old job. He's fatally linked to this
period of mayhem as well. We'd be glad to see
the back of them if it wasn't for the fact
we're still trying to clean up the mess and every
one of us is paying the bill.

Speaker 2 (03:05):
Says the mean were the inmates. Nobody's running anything, dear
re wrap anyway, stead of loosely related interest rates, they've
done a pole apparently once again, Why is anybody paying
attention to poles? I mean holes and weatherful cars? You

(03:26):
know my stand on these things.

Speaker 3 (03:28):
Weird. And this is why you don't believe surveys anymore,
because I think people just make it up. So the
ASB Housing Confidence Survey, twenty six percent of us believe
now is a good time to buy a property. Twenty
six percent, So it's not the majority. It's nearly fourteen
year high. It would seem a reasonable time to buy
a property. At the moment, things are a bit flat.
Here's the part that you can't explain. There's been a

(03:49):
drop in expectations for lower interest rates. Are you awake?

Speaker 1 (03:55):
Hello?

Speaker 3 (03:57):
Thirty six percent are anticipating cuts over the next year,
down from forty eight. So, in other words, fewer and
fewer people think that there are going to be interest
rate cuts. Is none of these people in boldeness? So
they listen to the news at all. What's going to
happen between now and the end of the year. We're
going to get at least two more cuts. When those
cuts come. What will happen at your bank? They will
cut as well. I will eat my hat if there

(04:21):
isn't a cut or two before the end of the
year in terms of interest rates. In fact, I would
go further and say the chances of there being a
further reduction of mortgage rates between now and the end
of the year is one hundred percent, and if it
was more than one hundred percent, I would say it's
nine thousand percent. There is nothing more sure than more
cuts to interest money coming between now and the end

(04:43):
of the year. And yet apparently sixty four percent of
New Zealanders don't believe it. Eighteen percent of US now
expect prices to rise over the next twelve months. Not many.
In other words, if you're not alert, you don't know
what's going on. If you don't know what's going on,
life surprises you.

Speaker 2 (05:03):
Of course, Mike's made the classic mistake of thinking that
people do listen to the news or pay any attention
to it. I mean, people do watch, listen, read the news,
but it's on their social media beds, so it's.

Speaker 1 (05:18):
Not really the news.

Speaker 2 (05:20):
It's just some news.

Speaker 1 (05:22):
Is a big difference, rewrap, right.

Speaker 2 (05:26):
I don't know if you are a member of a union.
I've certainly never wanted to be, But then I feel
like I can stick up for myself. Some people don't.
Mike doesn't see it that way.

Speaker 3 (05:35):
I don't think the unions are back with some new ideas,
and one of them is a tax payer agency, like
we need another one of those, and it funds training
on how to be a union delegate. Labor not surprisingly
love it. The union are calling their ideas, I'll tell
her reimagined. I'm not sure Middle New Zealand's really up

(05:57):
for that sort of imagination, the same way they're not
up for Labour's answer to the so called supermarket crisis,
as in that magical third player to enter the market
and shake things up. It's an ewe led supermarket chain.
This was an of wacky old Penny Hennerray's ideas. So
he's giving the gang patches back and he's letting the
local mari start a nationwide supermarket business. Now, under the
broad understanding that Labour are a mainstream party, wedding yourself

(06:21):
obsessibly to niche products like unions and race is no
recipe for broad based populist ideas. Not everything has to
be about race, and yet it became so under the
last tenure, to the point that basically no small amount
of the boat headed towards act in New Zealand first
in particular, and to national more generally, because Middle New
Zealand basically got sick and tired of it, and I

(06:41):
would have thought the recent activities of the nurses and
the doctors and the teachers would be warning enough that
a rampant union movement is not a way forward for
a modern economy. Of course, Labour may well disagree in
their more than entitleed to but if they couple these
two obsessions with this clearly building idea of a wealth
tax or capital gains tax, all I can see is
a lot of rejection by the time they ever present
it by way of a policy for next year's vote.

(07:03):
Niche is for niche players. The Maori Party own the
obsession around on race, it's theirs. The Greens own the
obsession around absurd anti wealth ideas and mass fiscal redistribution.
The path forward for a so called major party is
general ideas that advance a country in a way that
large swathes of people i e. Middle New Zealand can

(07:24):
understand and get behind. If Labor show up with the
wacky hair brain stuff they're toasts.

Speaker 2 (07:30):
Well, it depends on how many people are into unions,
isn't it. Once again, let's not get too silent in
our thinking. Although we might all be listening to this
quality content not everybody's getting that and their feeds.

Speaker 1 (07:44):
Unfortunately, the rerap so.

Speaker 2 (07:47):
Though, the rise and rise of weight loss drugs, what
started out is the miracle cure for certain forms of
diabetes has turned into one of the biggest revolutions. And cosmetics,
medical cosmetics and modern times, isn't it as we watch
many personalities shrink before our very eyes, and indeed perhaps

(08:12):
certain friends, relatives maybe, And there's any one explanation, isn't there?

Speaker 3 (08:17):
It's worth reading about Nova Nordisk. It wasn't that long ago.
These are the inventors of a zempic, of course, and
the amount of money that Nova Nordisk was bringing into
Denmark was unbelievable. It was Nokia in Finland all over again.
And if you don't know that story, look that one
up because that was fascinating. They became a country, became
reliant on a company, which of course is a recipe

(08:37):
for disaster, and Denmark became reliant on Nova Nordisk until
the weekend where they slashed their annual growth forecast one
point four percent. It had hiked Saul is going to
hike its growth forecast for next year. They think there
will be some sort of pickup. But what sort of
impact did Novo Nordisk have on the Danish economy? Well

(08:59):
before it was one point four percent, it was eight
point one And because o zempic, and that's worth knowing about.
A zempic isn't what it was. The competition came along,
the market fell apart, and Novo Nordist has watched their
value plummet. But anyway, it's affected not only the company
but the country as well.

Speaker 2 (09:18):
Could it be that this slump in Novo nordists fortunes
is attributed to the fact that all the rich celebs
who shrunk themselves have now shrunk themselves and there's nobody
else left to buy it. Mike Pompeio, he's my favorite.

(09:43):
He used to be a big wig in American politics.
Now he's sort of a commentator on Fox News. Look
him up before and after our pictures. He is literally
disappearing by the day and one day, sort of Willy
Wonka's chocolate factory style. I do fear that he may
just disappear so much she'll end up in minus landpoor.

Speaker 3 (10:06):
Away in a strong breeze, perhaps from speaking of beer.
Travel from Josh Mike have just landed this was last night,
landed at Enzi one two four from Melbourne to Auckland
five forty five. It's almost eight o'clock now and we're
sitting on the tarmac out in the open, not because
there's no gates available, but because Auckland Airport won't allocate
us one. We then cannot disembark as the staff won't
work when the wind is too high and it has

(10:28):
to go below eighty kilomeres. Now, now I won't bore
you witness the rest of the country, but yesterday was
a complete shambles in Auckland as yet again we decided
we're afraid of wind, so they closed the bridge and
they obviously closed parts of the airport, all the gates,
and we just what happened in the day is when
it used to be eighty five k's or ninety k's
or one hundred k's. So I mean, what literally happened
now is was nothing. We carried on with life, but

(10:48):
suddenly now we don't want to do anything when it
gets free.

Speaker 2 (10:51):
So I drove over the bridge yesterday just say to
Pulp a break, fearlessly went all the way from the
south side to the north side of it. Where do
I get my T shirt. I survived the bridge on
the thirty first of August of the twenty twenty five.

Speaker 1 (11:09):
Love you out this some we.

Speaker 2 (11:10):
I am Glean Heart Bridge Driver. I'll see you back
here again with more tales of feats of heroism like
that Tomorrow.

Speaker 1 (11:19):
We'll see there for more from News Talks at b
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