Episode Transcript
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Speaker 1 (00:00):
International Correspondence with ends and eye insurance, peace of mind
for New Zealand business, so they really are high. Sam Imrie,
Australia Correspondents, Sam, Welcome to the show. No meeting for Trump.
No meeting, I should say for Alban easy.
Speaker 2 (00:16):
With Donald Trump now looking more and more likely that
it'll just be a handshake and a photo for the
trophy room for Albow this time around. But I guess
the question really we're probably asking now is is it
a meeting that he would even really want to have.
You know, he's doing quite well at home on a
lot of topics and Trump is certainly not really a
popular ally when it comes to Aussie voters for the
(00:39):
Labor Party here in Australia, and you know Albo and
Trump have had quite a few calls already. I think
this is number four discussing trade, security, critical minerals, those
sorts of things. They've been hailed as quite constructive, which
is something to say when having any sort of conversation
with the current American president. And we're out of you know,
(01:00):
with what we've come out and said with Palestine. The
Australian response this morning in the media to the President's
claims on autism and paracetamol has been quite negative as well,
So there's not really a lot of positive media or
anything really shiny or good that can come from Albow
sitting across from Trump, other than obviously, you know, being
(01:20):
able to walk through the door and say I've got
that ability. The labor troops around early Sunday, Ryan already
saying that the meeting is probably unlikely, and also the
proof is in the pudding. They're saying that they've managed
to see clear of any heavy tariffs and that you know,
so far we've sort of sailed relatively free from any
serious economic damnation from the Trump administration. So we'll see
(01:44):
where it lands. But at this stage it's looking more
and more likely that it'll be a photo opportunity for
our boat.
Speaker 1 (01:49):
Fair point, a bit of a Griffin grint the RB You.
I've been looking at the comments from your zoobent governor
about the living standards. This is interesting.
Speaker 2 (01:59):
Yeah, it's nothing new, which is sad to say, isn't it,
With the future and economics of the future, and it's
hard to see it any other way really as getting
more expensive for people here in Australia because everything's going
up except for the one thing wages. Economists are warning
that millions of Australians face this material decline in living standards,
(02:20):
which I also think is just a nice way of saying,
you know, we're not going to be out buying all
the latest gear for our kids, and we're not going
to have to, you know, have every single little thing
that we've been wanting to have, so we might have
to tighten the belts a little bit. The RBA interestingly here,
I mean, they have achieved the inflation rate of two
point seven percent this year, which is a huge effort
(02:41):
considering it at six point eight in twenty two. But
they are also warning that this first home bias scheme
and some of these schemes that the government bring in
to try and help younger people into the housing market
could actually push inflation up and put more demand, obviously
on a already struggling housing supply. You know, I just
can't see how we really make huge inroads here, Ryan,
(03:05):
unless we suddenly just can put a hell of a
lot of people in a lot of housing in these
struggling cities.
Speaker 1 (03:11):
I meanwhile, Maya has sheared twenty one percent off at
sheer price that was at a worse fall. I think
what's going on.
Speaker 2 (03:18):
It sort of points to the cost of living really,
I think doesn't know. I think people are already tightening
the belts, maybe not go out and buying quite as
much shopping and those sorts of things. They lost two
hundred and eleven point two million in the last financial year.
That's after a profit of forty three point five the
previous year. Some people are saying it's driven by non
(03:40):
cash impairment of goodwill. You know, they acquired apparel brands
late in twenty twenty four, things like just Jeans and
a few other areas that are probably struggling right now. Ryan.
So I think it's just more testament to the times
of people are actually tightening the belts, and you know,
these are the first ones to hit the to get
(04:00):
hit by these sources of restrictions.
Speaker 1 (04:03):
Yeah. Interesting, Sam, appreciate your time. Sam Emory, Australia correspondent with.
Speaker 2 (04:07):
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