Full Show Podcast: 06 March 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Your source of breaking news, challenging opinion and honors facts,
the Mike Hosking Breakfast with Bailey's Real Estate, finding the
buyers others cut use Tom's ed.

Speaker 2 (00:10):
B of them today, Adreenora's ARTI's warnings Key resavers to
buckle up now, the trumpet is let loose on the
tower off scrap and the Education ministraw new classrooms and
slipping pass rates. Shef Peter Gordon with an insight into
whither our hospital scene really is on its knees. Joe's
in Rome. Of course at the Vatican, Rod does the mighty.

Speaker 3 (00:28):
UK for us as well, pasking.

Speaker 2 (00:30):
Well, let's rip into this Thursday, seven past six. The
fact Adrienora's leaving is of course excellent. It shows a
level of accountability and responsibility for what has been a
ruinous period for the New Zealand economy. The receipts and
reviews are in the story is stark. We've been hit
harder than any other country in the OECD. We had
three recessions. Most countries, as a result of their COVID

(00:50):
plan had none. Grant Robinson carries some of the blame,
of course, he does one encouraging and endorsing all but
two more dangerously reappointing him so close to the last election.
The new govern that could have should have Sackedor, although
that would have said a fairly disturbing precedent given the
governor is supposed to be neutral. Or made the governor's
job though a household fascination. Yes, Don Brash got well known,

(01:11):
but really only when he went political the others came
and went, I mean Allan Bollard. I might have interviewed
him a couple of times over the year. Spencer Russell.
In fact, before Spencer Russell, who you also have never
heard of, the job was called the chief cashier. Russell
was your first governor. Anyway, The upside of COVID and
AWE was we at last took an interest, didn't we
We had a view, We knew about cash rates and

(01:31):
inflation and quantitative easing, but we learned the hard way.
We paid an enormous price. In fact, were still paying
the price. Or has years to run on his contract,
and clearly the pressure was on the government's currently negotiating
a budget with the bank, and I assumed they were
twisting arms hard behind the scenes. The bank staffing numbers,
by the way, a balloon or has come across, of course,

(01:51):
as haughty and arrogant, unable to really express any level
of regret if in fact he has any at all,
for the damage he's done. Giving banks money for free
and not putting restrictions on where that money went was
the height of incompetency. Still handing out money when we
all knew that a lot of what we thought would
happen during COVID didn't. That was a scandal. The onerous
banking restrictions he placed on the retailers with us just

(02:12):
in case thinking was needlessly restrictive. The conclusion has to
be that although everyone flew blind during COVID, no one
flew more blind than us. No one was led by
a more ideologically driven fiscal ransacker than Adrian or.

Speaker 3 (02:28):
News of the world in ninety second.

Speaker 2 (02:31):
Developments warwise, what can I tell you in Europe is
still evolving fairly quickly as we speak. A US intelligence,
of course, has been paused.

Speaker 4 (02:37):
Anything that would allow Ukraine to target sites or individuals
within Russia, which they have been doing very accurately, would
not be shared any further.

Speaker 2 (02:49):
Ah, But that of course is a ploy to get
Zelenski to back down and oh, I don't know, Maybe
write a letter.

Speaker 5 (02:55):
Nobody wants peace more than the Ukrainians, he said. My
team and I and ready to work under President Trump's
strong leadership to get a peace that lasts.

Speaker 6 (03:07):
Now.

Speaker 2 (03:07):
The CII he's happy with what seems to be happening.

Speaker 7 (03:10):
President Zelenski put out a statement saying, I'm ready for
peace and I want Donald Trump's leadership to bring about
that piece. And so I think on the military front
and the intelligence front, the pause that allowed that to happen,
I think will go away.

Speaker 2 (03:26):
M BRIT's busy and the Commons agreeing with each other
over the need for the ongoing US and boldmint in
all of this.

Speaker 8 (03:31):
Does he agree with me that without this country's greatest ally,
any peace agreement would place a terrible burden on Britain
and our tax pays.

Speaker 9 (03:39):
Well, I agree with her wholeheartedly, and that's why we
must not choose between the US.

Speaker 2 (03:46):
And You're very aligned. The Russians watching on with interest.

Speaker 10 (03:51):
For now, the Ukrainian president is still legally prohibited from
negotiating with the Russian side.

Speaker 3 (03:57):
Overall, the approach is positive. The details have not changed yet.

Speaker 2 (04:01):
Back in Britain, the Bank of England boss who has
been in front of the Treasury Committee pondering out loud
about all the people at home on welfare doing nothing.

Speaker 11 (04:08):
We've got a bigger population, but we've got the same
outputs and activity. Now, the only way you can sort
of square those two things sort of arithmatically is productivity
was weaker and in fact last year we had negative
productivity growth on the air, it sort of leaves you wondering,
what's really going on here, am Shale?

Speaker 2 (04:24):
Isn't he supposed to know? Finally, fIF has announced that
for the first time, next year's World Cup, which is
being hosted by the state's Mexico and Canada, is going
to have a halftime show. How super bold are the
admitted Ryal state, but halftime in football those only well,
it can't be any longer than fifteen minutes. Are They're
going to need to change that. They're going to be
working with the advocacy network Global Citizen as well as

(04:44):
Coldplay to put all that together. So that is news
of the world in ninety one. Other words, I'm speaking
of Adrian or as so many New Zealanders have left
the country is of course they see brighter, better days
in Australia. Are there brighter better days in Australia? Turns
out yes, because we got their growth number and you'll
make the word growth more at a moment. Twelve past six.

Speaker 1 (05:04):
The Mike Asking Breakfast Full Show podcast on iHeartRadio, how
It by News Talk.

Speaker 2 (05:10):
SEP China Watch Annual Parliamentary meeting is underway. They've set
their GDP target for the year at a round quote
unquote a round five percent four percent deficit. They're also
moving on that raised the budget deficit target to a
round four percent from three percent. That's a lot higher
since twenty twenty. That's China Watch for you. Fifteen past
second back here from JMI Will Andrew Teller her good morning, Yeah,

(05:35):
very good money, Mike, What do you make of it?

Speaker 8 (05:38):
Well, that was unexpected twist of the week yesterday, wasn't it?
In the middle of a global trade termil which could
have global economic ramifications. The Reserve Bank obviously governor announced
his retirement yesterday, as you've been talking about. I would say, Mike,
quite unusual for financial markets to be blindsided like this.

(05:59):
I mentioned often the fact that financial markets crave certainty,
and there's plenty of uncertainty around at the moment, So
this is not an ideal event that from that perspective,
Is it fair to say there's a dearth of sort
of commentary comment from the institution itself around this. I
think that's fair, Mike. I would say we can only
speculate on the actual motivation behind what is quite a

(06:20):
sudden departure, and I think the only person that can shed,
you know, the brightest light on that is the Governor,
as seem to be its governed himself, so I think
you would need to speak to him to find that out.
We do know that there are current negotiations on that
five year funding that the Reserve Bank gets from the government.
In the statement that was put out yesday, there was
the comment that there is much work to do on

(06:43):
major multi year strategies the rbnzet is following and the
ongoing focus and funding will be critical to these projects' success.
So you can read into that what you will. We
know the RBNZ is quite a bit bigger and has
become a lot bigger under governor Or, and you can't
see why the Reserve Bank of New Zealand would be
immune from the government focus on spending restraint.

Speaker 12 (07:05):
Could you.

Speaker 8 (07:07):
Let's talk about the implications for financial markets. You know,
in a perfect world, the succession issue I think would
be managed quite differently without this sort of abrupt change.
Governor Or has obviously been a pretty central and influential figure.

Speaker 2 (07:20):
I've been doing this since.

Speaker 8 (07:21):
The late eighties, Mike, and I would say that the
governor or is probably the most polarizing character I think
that they've had, and he does have strong views, but look,
he is part of a team environment Mike. So the
Monetary Policy committee is a committee. Albeit we don't know
unless you sit in that committee how much influence Governor

(07:44):
will had. I would make the comment that Deputy Governor
Christian Hawksby is a key part of that monetary policy.
Those monetary policy conversations Hawksby has experienced, He's eminently sensible.
I assume there will be continuity of thinking. The market
will have to get comfortable with that, and the previously
assumed ohcar track is still relevant. There's no reason, Mike

(08:07):
to believe that won't be the case. No real market
reaction on the day. Let's remember always I think that
the role should be and that's the key point, should
be independent of the government. We look forward to the
new appointment.

Speaker 2 (08:21):
Though, really yeah, exactly, and they tend to go outside
in as opposed to inside, and.

Speaker 8 (08:28):
You would have thought that will be the case this time.

Speaker 2 (08:30):
Exactly.

Speaker 13 (08:31):
We did a little bit of.

Speaker 2 (08:31):
Life in Australia as they right for the big cyclone.
Of course, it's an okay number, certainly better than anything
we produce.

Speaker 8 (08:37):
Yeah, that's right, I mean, governor, governors of the Reserve Bank. Aside,
the wheels of commerce and business keep turning. We look
forward to the release of our fourth quarter GDP.

Speaker 12 (08:46):
On the twentieth of March.

Speaker 8 (08:47):
Yesterday, Australia released their fourth quarter GDP, printed at zero
point six percent of the quarter, following a zero point
three gain in the third quarter. That result was in
line with market expectations on a per capita basis, because
we like looking at that as well. Zero point one
percent gain. So actually in the positive territory. That's the
first per capita quarterly increase since the final quarter of

(09:09):
twenty twenty two, annual growth sitting at one point three.
You know, the lucky country has become accustomed to sort
of consistently positive levels of growth, So there was much
consternation if you remember that zero point three print because
it was quite close to zero, so they've bounced back.
Contributions to growth are broad based, public spending, household consumption,
net exports. They will added up to that zero point

(09:31):
six pent outcome. You can see evidence of recovery in
the consumer sector. And one of the key differences might
between the two economies at the moment is government and
public spending in Australia is sort of high and rising,
whereas the opposite is the case here.

Speaker 2 (09:46):
Okay, what are the numbers?

Speaker 8 (09:48):
Yeah, so right, we have US markets have been bouncing
around the last few minutes. They've sort of gone back
into just into positive territory, well not all of them.
The Dow Jones is up one hundred and thirty seven
pointser point three percent, forty two thousand, six hundred and
fifty eight, the S and P five hundred down five
points five seven seven two, and then NASAQ has just
just ticked up into positive territory, up twenty eight points

(10:11):
zero point one five percent eighteen thousand, three hundred and
twelve Overnight, fort C one hundred lost three points, the
NICK was up eighty seven. That's about a quarter of percent.
Three seven, four and eight. Shanghai composite three three four two.
It was up just over half a percent. The Aussi's
yesterday lost point sixty nine percent eight one four one.
Then's the next fifty lost fifty eight points point four

(10:33):
six percent twelve thousand, four hundred and twelve and now
currency's Kiwi dollar quite a bit stronger of night. US
dollar has weakened off point five to seven O five
against the US point nine zero four four OSSI point
five two nine sixty euro point four four three five
against the pound eighty four point a five Japanese yen.
Gold is still still hanging in the two thousand, nine

(10:54):
hundred twenty six dollars. But the big story overnight make oil.
You know we spoke yesterday, I said it's sitting on
support levels. Well it's just crashed straight through those. So
break through to the moment sixty eight dollars and forty
three cents. Yes, So clearly concerns about growth around the world,
and particularly US growth feeding into that all price you.

Speaker 2 (11:13):
Know, and commentator you'll be up to that. They're talking
stagflation in America.

Speaker 8 (11:18):
Yes, that's that is a key issue for us to
keep an eye on. But at data overnight actually leans
against that some services data that came in a bit
better than expected. But that is a moving feast, all.

Speaker 2 (11:28):
Right, and that's why we have you on the Big Money.
My friend Andrew lat Jmiwealth dot co dot m z
scati dass seems to be a thing at the moment
at the expense of Nike. So nineteen percent increase in revenue.
This is for the fourth quarter operating profit of fifty
seven million. This is in euros because they're a European company,
of course, growth and marketshare in North America against a

(11:49):
weak Nike. People are off Nike forecast for the year
high single digit growth rates, operating profit upwards of one
point seven billion euros for twenty five. We're quote unquote
and very good good shape, and they finally managed to
unload the last of the yeasy so they'll be feeling
pretty good about themselves. Sex twenty one. Here at Newstalks EDBO.

Speaker 1 (12:11):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks EDB.

Speaker 2 (12:17):
Here's a flavor Mike of Adrian Or was dismissed from
his position mid contract. He would receive a compensation payment
as he's broken his contract. He should be paying compensation back. Well,
he can't pay compensation back the money he hasn't got.
He's not getting any money. I think essentially he's just
packed a mass of sad because he's a tempestuous sort
of person and he's stormed out. Basically, Mike Adrian basically
made it nearly impossible for our children to get into

(12:38):
first times without help from parents, keeping the rates low
after COVID far too long. Good riddance. There'll be much
more on this after seven o'clock, of course, six twenty five.

Speaker 1 (12:47):
Trending now with chemist Wells keeping Kiwi's healthy all year round.

Speaker 2 (12:53):
Richie's having a crack at the telly the talent behind.
If you don't know the name the gentleman lockstock and
barrel to smoking guns, He's got a new shot. It's
called Blamed. It's organized crime drama, Spury Guy Ritchie. It's
about the Harrigan family as they control the underworld and
modern day London.

Speaker 6 (13:06):
Names Conrad Harrigan family man and if you cross my family,
well you'd better.

Speaker 2 (13:15):
Pray to introduce man.

Speaker 6 (13:20):
We shake the right hands, break the wrong ones.

Speaker 3 (13:25):
I think we have a situation.

Speaker 6 (13:29):
We don't ask, we take, and when someone forgets their place.
You've got a man from that form themselves. So are
you with us or are you against us? Power is
a hungry thing and there's always a rat bastard looking

(13:50):
to take what's mine.

Speaker 2 (13:51):
Is simpathy for the devil the base rolling Stone song? Ever?
Is that the nice used song in trailer's for movies either?
And that's because it's the best song ever, I think
at the end of the day. Got introduced Old Jagad
to the Oscars the other day that Pierce Brosnan crime
boss Tom Hardy is the Facxir Helen Mirram Brosna's wife
paramount plus which means you can't see it. So all

(14:12):
I've done is just get right up your nose already
this morning.

Speaker 14 (14:14):
Go.

Speaker 2 (14:14):
We don't have paramount plus here a lot of paramount plus.
The stuff does end up on Neon, who've just put
me prices up, So you'll need to work out whether
you want to pay the money, Mike, let's not forget
or was the arrogant fool that I'm getting into office
immediately declared the bank the mighty Tanne in the forest,
along with a load of other Mari crap. If you
want to little exercise and understanding how the Reserve Bank works,

(14:37):
have a look at their executive team, go to their website,
have a look at the executive team, have a look
at some of the people who advised them sit on
that committee. And then just ask yourself over breakfast this morning,
Now that I know that, is it any wonder? The
economy is in the state it's in, and the decisions
they made are the decisions they made. As I say,
more on Adrian and the legacy. After seven o'clock meantime,

(14:59):
the news is next, before we get into the airlines
and more cost plus accounting.

Speaker 15 (15:03):
Next, the news and the news makers the mic asking
breakfast with a Veda, Retirement Communities, Life your Way, news
togs dead b.

Speaker 2 (15:15):
He shows that the Vetigan was standing by for an update.
Micah promised you All's resignation is due to Willis's refusal
to sign off the RB's operating budget. If you don't,
if you haven't followed the story, and why would you,
it's very dry. The government directly, It's slightly unusual with
government departments. The government directly deals with the Board of
the RB on a budget, and they go back and
forth and they say, here's what we need and the
government goes, here's what we've gotten. So it goes anyway,

(15:36):
this has been going on for a while, and Willis spoke,
i think to the Herald the other day and said
there's probably room for savings here. So Or says, the
text has been trying to get the budget sort of
for a long time, but the government won't sign off.
Will result in mass redundancies if not signed off, so
he would rather walk than championing that. So the budget,
just to give you a flavor, has gone from in
twenty eighteen sixty two million dollars a year to run

(15:57):
the RB tow one hundred and fifty eight sixty two
to one hundred and fifty eight. That's Grant Robertson for you.
Do you want some more money? Adrian, Absolutely, no problem
at all. That's how that worked. So I think he's
seen that particular writing on the wall and that's how
it's unfold. Twenty ten minutes away from seven five, speaking
of cost plus accounting, Airways, which is our air traffic

(16:19):
management provider, is suggesting they might like to increase their
fees by seven point seven percent as of July, thank
you very much. That's up to two dollars eighty your seat,
every seat, every time you fly, and of course you
know who pays for that. Executive director at the Border
Airline Representatives, Catherine Brian's bagler is Cath.

Speaker 16 (16:34):
Morning, Good morning mate.

Speaker 2 (16:36):
I take it you're not a fan.

Speaker 16 (16:38):
Not a fan. I mean over the three years, we're
actually looking at twenty two point eight percent increase and
fourteen point four percent in the first year, So it's
front loaded, right up front, effect of one July twenty
twenty five checks notes. That's actually just in a few months.
Once we get to, of course, the price consultation.

Speaker 2 (16:59):
Do why well that was I'll come to that in
the moment. Do the airways have an argument as to
why this is so necessary?

Speaker 16 (17:06):
Look, they have a number of things that they need
to invest in, and lots of those things are really important.
Don't get me wrong. We need to have the air
traffic controllers, we need to have so skies. It's important.
But what the sort of bigger problem here is that
this is the latest and a long round of price
increases for airlines flying to New Zealand, which is not
taking us in the direction we want to when it

(17:27):
comes to tourism.

Speaker 2 (17:28):
No, because I thought we'd dealt with this this business
is you know that the inflation was under control, so
clearly it's not in these particular cases, where is the
regulation that can they just say that's the number or not?

Speaker 16 (17:41):
Yeah, they essentially can say that's the number. Much like
airports they can. They can set prices. Indeed, they target
like a profit. Because the airways is an SOE, they
have to target a commercial return. So in these prices
there is a commercial return proposal of eight point zero
eight percent, so that it's the we're having to pay

(18:01):
for now how much? Right you hear me? Eight point
zero eight percent target are return?

Speaker 2 (18:07):
So that would involve the government to that point to
maybe put some pressure on them at that end of
the scenario, and that will get passed on like airport's
passed on. So I'm going to end up paying for it,
aren't I?

Speaker 13 (18:16):
Yeah?

Speaker 16 (18:16):
Look look you are. And you know the trouble that
New Zealand's got at the moment is we've got Aukin
the airport where prices are rising every single year. We've
had the Civil Aviation Authority increase its levees for large
airlines by one hundred and forty three percent. Is that
also effect of one July twenty twenty five, and now
we have Airways fourteen point four percent as the first

(18:38):
tranch of this in one July twenty twenty five. All
of these things are hitting foreign airlines in a commercial
profit view of their.

Speaker 2 (18:47):
Route, which of first then brings us to tourism. And
when they say we're expensive, we are.

Speaker 17 (18:53):
We we really are.

Speaker 16 (18:55):
And that's ignoring the international visital levey at one hundred
god dollars per person, plus the visa chat that went
up last year. So New Zealand really is pricing itself
out of the market when it comes to aviation hopeless.

Speaker 2 (19:07):
Kath, nice to talk to you. Appreciate it, Katha. Brian
Bord of Airlines Representatives. I was slightly confused there for
a moment because what she was suggesting, I don't know
if you picked it up, is that when somebody puts
their prices up, that price gets passed on. But I
was listening to Donald yesterday in America who was saying
that when you put your prices up, the prices go down.
So nineteen minutes away from seven Paskipeaking, which talk about hypocrisy,

(19:31):
the Canadians have requested consultations with the United States on
quote unquote unjustified tariffs at the where where are they
going the World Trade Organization? Why are they going to
the World Trade Organization when we're taking them to the
World Trade Organization for Oh, I don't know, under the cptppiece.
Allegedly our friends they're playing silly buggers on the dairy.
So they're playing silly buggers on the dairy. They don't

(19:52):
mind getting ragged to the WTA over that because they're
squeaky claim, But all of a sudden, when it doesn't
suit them, they want to go to the WTO as well,
because America being a big fat meaning how does that work?

Speaker 1 (20:02):
Eighteen to two, The Mike Hosking Breakfast Full Show podcast
on iHeartRadio, par it By News talks.

Speaker 2 (20:09):
A b Mike ironic that all couldn't control his own
inflationary costs and the unbeff had crushed everyone else. It's
a very good point. He's just a reflection of the
wider public service. WTF, Mike, did they what do they
do with that much money? They don't actually do that much.
Have a look at their executive team. They've got a
director of organizational capability and diversity, equity and inclusions. That's

(20:30):
where the money went.

Speaker 1 (20:31):
Sixteen to seven International correspondence with ends and Eye Insurance.

Speaker 3 (20:36):
Peace of mind for New Zealand business Fully time.

Speaker 2 (20:38):
Joe McKenna, Very good morning to you, good money. May
are you at the Vatican.

Speaker 18 (20:44):
I'm at the Vatican waiting for the latest update on
Pote Francis. He's been in hospital now for almost three weeks.

Speaker 2 (20:50):
Perhaps foolishly late last week said out loud that I
felt goodish about it all, given he seemed to have stabilized,
and then he had that upset over the weekend, but
he seen still stabilised again. Is that fear?

Speaker 18 (21:03):
Yeah, that's what we've been hearing the last couple of days.
He's had four respiratory crises or incidents since he was
admitted to hospital on February fourteen. There's no sign of
him leaving hospital. They say that he's quite stable, but
those episodes of respiratory failure have certainly caused a lot

(21:24):
of concern and we just don't know if that's a deterioration.
Doesn't seem to be. It seems to be holding for now,
but it'll be interesting to get the update this evening.

Speaker 2 (21:34):
Given the length of time this has gone on, what's
the level of interest in Italy? Has it waned or
is it still as high as it was?

Speaker 18 (21:42):
Look, I think there's a lot of interest in the
Pope's health because in Italy the Pope is like a
monarch really. Having said that, there's so much action going
on in Washington at the moment that seems to be
overtaking the news and the future of European armament as
well in relation to Ukraine.

Speaker 2 (21:59):
You're speaking of all of that. So Vanderlyn comes out
with her it's euro's eight hundred billion, so in our money,
it's about one and a half trullion dollars to sort
of buy some bombs and arms and get europesact together.
How does that sit with Maloney?

Speaker 18 (22:13):
Well, she has been very supportive of the EU and NATO,
and she's coming under fire from some of her coalition partners,
notably the League leader, Deputy PM Matteo Selvini. He's raised
doubts about this proposal. Also tonight one of his colleagues,
John Colo Georgetti, who is the Italian Finance minister. He's

(22:36):
also said that this is way too hasty and Italy
needs to think about it, it would cost Italy up
to fifty billion euros to be re arming and be
involved in this proposals.

Speaker 2 (22:48):
Position that broad Italian discussion that you need to spend
more on defense individually as a country farliest part of
the EU. Is that going on at your place?

Speaker 18 (22:58):
It sounds like it's more of we need to jump
on board with this European Union proposal.

Speaker 2 (23:05):
Okay, so Berlasconi, for example, used to hang out with Putna,
but they seem to be the buds when you get
to the right hand side of the Italian political system.
How many of them are on sort of broadly speaking
Russia's side of this debate.

Speaker 18 (23:19):
Well, certainly Matteo Slvini has been very pro Russian from
time to time, and it hasn't become clear where that's
come from and whether there has been some crossover in
terms of political financial support in the past, but he
certainly lines up more pro Russian than he does pro Zelanski,
and I think that's influencing his opposition to the realm

(23:39):
of that as well.

Speaker 2 (23:41):
Now, on the economy, you got zero point seven percent,
which speaking to you from a country that's been going
backwards for the last four or five years. That's not bad.
That was that well received or no one sees it.

Speaker 18 (23:52):
Yeah, I think that has been quite positive news for
the government because the Maloney government's been doing more to
recover tax revenues in the last couple of years, and
as we know, Georgia Mlini's popularity is still very high.
So these accounts are good news. I think there are
other signs though, of concern, particularly as we've talked about,

(24:13):
with the possibility of those US tariffs. There's news today
that if they go ahead, they're going to have a
huge impact on cheese, olive, oil and wine exports. So
we'll see what happens there.

Speaker 2 (24:24):
All right, stay in touch, joke, nice to talk to you,
appreciate it very much. Joe McKenna, who is standing by
at seven o'clock at our time at the Vatican just
before we leave Europe. By the way, they're slowly, it
seems good, putting together a government in Germany. They're going
to deal with the Social Democrats, of course, which was
Schultz's old party, but anyway they're going to need They
reckon about five hundred billion euros in terms of defense spending,

(24:45):
as we've been saying, and Mertz says, we need to
do everything we possibly can, so that seems to be
the main focus of their attention at the moment. The
problem they've gotten in Germany is this thing called this
debt break that Merkel introduced zero point three five percent
of the annual gross domestic product. In other words, you
can't borrow more than that on an annualized basis without
going to the parliament and getting a two thirds majority,
because it became part of the constitution, so you can

(25:08):
do it in an emergency. You can suspend that law
in an emergency, which they did during COVID. But whether
they can manufacture this as an emergency or whether they
can convince two thirds of people in the German Parliament,
they need to borrow a shedload more dough because I remember,
of course, the German economy is on knees at the moment.
It is no longer what it was. So they've got
two fole problems. One getting the government together. And if

(25:29):
they get the government together, can they convince two thirds
of the German Parliament to give them a bit more
money and buy some more guns. Ten away from seven.

Speaker 1 (25:35):
The mate Hosking Breakfast with a Vita retirement communities News
togs Head been you.

Speaker 2 (25:41):
Cannot complete the without the exceedingly good news of our
red meat industry numbers out yesterday. Exports up twenty eight
percent as for January nine hundred and twenty seven million dollars.
US is still leading the way, increasing sixty four percent
year on year. China's up ten percent, ccent UK up
fifty eight percent, Canada is up eighty nine percent. Our

(26:04):
largest market for the month, the US two seventy seven million,
China two seventy six million, the UK sixty million, Canada
forty one. The Netherlands up nine percent to thirty three
finally got on board with the good quality stuff. Sheep
meat is steady. There's a decline in exports in the EU,
which is down twenty percent. US is down twenty four percent.
Offset increase by shipments to China which are up seven percent,

(26:24):
the UK up nine, Malaysia up one hundred and seven.
Value of sheep met exports is up twenty two percent.
As far as beef is concerned, exports row six percent
in volume. But now here's the key. This is the
important number of this. So six percent up in volume
for beef, but up thirty six percent in value, so
we're selling more and selling more of it for more.

(26:45):
China down fourteen percent, are strong growth, though in North
America they cannot get enough of that beef for the
burger patties. Exports to the US are up twenty four
percent in volume, values up seventy three percent. We are
just killing it in the United States. But generally anything
that's up twenty eight percent on the month, as far
as exports are concerned, we will take that all day long.
Thank you very much. Five minutes away from seven, all.

Speaker 1 (27:08):
The ins and the outs. It's the fizz with business favor.
Take your business productivity to the next level.

Speaker 2 (27:15):
I own more good news. This is the home of
good news. So property market this morning, what I've got
for you call Logic Home Value Index for February up
sales up zero point three percent, strongest rise since January
of last year. Continues a small trend of increases since October.
So there is life there, there's no question about that.
A lot of houses on the market, but there's certainly life.
Medium home value across the country eight hundred and seven thousand.

(27:36):
What's that mean? Well, glass half full or half empty?
It's either down sixteen point nine percent on the record
hires of twenty twenty one, or it's seventeen point one
percent higher than pre COVID of March of twenty twenty
So take your pick. Modest growth. Basically, we're in for
a year of modest growth, although you do don't want
to forget the mood from the government which is yet
to be announced on foreign buyers that is still coming.

(27:57):
It's one of those things bubbling in the background. My
understanding is that we're all these international investors arrive in
town for the government's big Hey, we're open for business
and come and give us some of your wealth. They're
going to announce that along with all the other things
they're going to announce it, Thus meaning that all the
foreigners that come to the country and go, well, if
I'm going to give you ten million or fifteen million
or fifty million and open my business employs some people,
can I buy a house and Chris Luckson will be

(28:18):
able to go, Yes, you can. Main centers Auckland up
zero point three percent for the month, average value a
little over a million, Hamilton up half a point seven
forty two's the average tower on a small hit. In fact,
the only main center to take a loss at zero
point two downs hardly the end of the world. That
average value in the bay nine oh seven. Wellington Up, Wellington,

(28:39):
come on, welcome back zero point one percent average seven
ninety two. Christ Uch is up over half a point.
Of course you are, because everyone wants to move to
christ yourtup. They don't want to move to Dunedin up
zero point six percent. Average of value six ninety thousand.
Dunedin's up zero point six percent as well. Something's happening
in Duneda. There's a boom going on Dunedin. I'm calling
it early. I called christ Juche early, but they've just

(29:01):
carried on further south. The further south you go, the
more beautiful it gets. So Duneeding up zero point six percent,
and buying a house in Dunedin is so cheap it's embarrassing.
Average value six hundred and sixteen thousand dollars around the region.
Your best performance. What have I got in the cargo
up zero point nine told you go christ Gips, then
you go to the Eden, then you go to Ambicago,
next dots Stuart Island in the Antarctic zero point nine

(29:21):
percent of cargo average value four seventy four see four
seventy four. And in Vericagol you're laughing by four houses
Queenstown up zero point eight average value one point five
seven Gismond Nelson Napier increases are by the zero point
four zero point five. These are all good numbers, aren't
They put a steak on the barbie because that's going
through the roof and by yourself a house biggus rot

(29:43):
was Wanganui down zero point six percent average value four
hundred and eighty one thousand dollars. Right, Adrian and all Ah,
Let's do a report card after the news, which is
next here on the My Costing Breakfast of News Talk SEVB.

Speaker 3 (29:55):
That's the only report you need to start your day.

Speaker 1 (29:58):
The My Costing best with the range Rover, the LA
designed to intrigue and use.

Speaker 2 (30:04):
Talks seven past seven. So Adrianaor's departure seemingly coming out
of nowhere, is halfway through a second term, years to
go on the contract and he's gone for more. Reserve
Bank senior staff for Jeff Mortlogue with us. Jeff, very
good morning to you. Yes, yeah morning, Mike, as he
pecked as said.

Speaker 14 (30:19):
He appears to have and with no apparent reason for
it and no explanation.

Speaker 2 (30:26):
Could we read into it that the funding debate between
the government and the Board at the moment might have
something to.

Speaker 16 (30:32):
Do with it.

Speaker 14 (30:33):
Well, look, that would be a reasonable interpretation. I think
the understanding I have is that there have been tensions
between the Reserve Bank and the Minister over the funding negotiations,
and that wouldn't surprise me given how much the budget
has increased, just how much they have been spending in

(30:57):
the last seven years under all.

Speaker 2 (31:00):
Exactly why have they needed or wanted so much more
money and what have they spent it on and to
what end?

Speaker 14 (31:07):
Well, look, some of it was probably reasonable in the
sense that they have been upgrading the Banking Supervision area
from a very low level of staffing to a more
reasonable level. Some of it is gearing up for the
deposit insurance scheme, so that I can understand.

Speaker 16 (31:25):
But the.

Speaker 14 (31:27):
Where it gets strange is they are the increased staffing
dramatically in the pr area to an astronomical level. A
lot of it seems to have gone into some of
the nefarious projects, some of their cultural projects and so forth,
And when you look at the staffing levels dramatically increased.

Speaker 2 (31:53):
Was he just building a flight wrong?

Speaker 14 (31:56):
Sorry?

Speaker 2 (31:56):
Was he just building a five them?

Speaker 14 (31:59):
Well? Well, I think that the sending an element of that.
He was wanting, I think to increase his loud speaker
so that he could involve the Reserve Bank in the
kind of issues that he wanted to see it more
proactive in. And some of those issues were not even

(32:20):
ones that were really part of the Reserve Bank's core mandate.

Speaker 2 (32:24):
Given what happened yesterday, literally in the fact he let
the building know and could explain it properly, do they
owe us an explanation or is.

Speaker 12 (32:31):
That just life now?

Speaker 14 (32:33):
I think they do. I mean, he was governor of
the Reserve Bank. It's a key role. And I think
that when the chief executive of a major public institution
resigns there should be an explanation. And I think if
it doesn't come from the resigning governor in a formal statement,

(32:59):
then it should come from the Chairman of the board.
And yesterday we had yet another demonstration of evasive explanations
from the chairman.

Speaker 2 (33:14):
Neil quickly in simple terms, where's he said? Hopeless worst moderates.

Speaker 14 (33:21):
I was thinking that going through all of the governors
since nineteen thirty four. I would rank him as the
worst in terms of competence based really on the monetary
policy results. You look at the inflation burst, and some

(33:43):
of that was external, but some of it was definitely
a function of monetary policy actions. He's left taxpayers with
over ten billion dollars of debt that could have gone
into the public health system and other such things. He's
nearly doubled the staff numbers of the Reserve Bank, and

(34:08):
he's jacked up bank capital ratios, two levels that I
think are going to make it more difficult for the
economy to actually start growing again.

Speaker 2 (34:19):
Well, so Jeff appreciate it. Jeff Mortlocke used to work
at the Reserve Bank. Eleven minutes past seven sort of
related to the old kV Saber chats back. Now that
the good days of the market are over and Trump
is loose in the house, wreaking have it with the
tariff business. Very topsy turvy, they say on Keyvy Saber
hit of Key Saber at Milford Asset Management. Murray Harris's
well us Murray, Very good morning to you.

Speaker 16 (34:37):
Mike.

Speaker 2 (34:38):
Is this a media thing because we have this discussion
everytime the market goes a bit wonky and somebody comes
into power. I mean, do people ring you up and go,
oh my god, murray, what do I do now?

Speaker 7 (34:45):
Or not?

Speaker 19 (34:47):
Well, Look, this is one of the issues with TV
saver is that people can see their balance every day
and there are things to worry markets every single day,
markets go up and down. And really the advice to
people with kivsaver is that they should just ignore that,
stay the course, and don't.

Speaker 2 (35:01):
Pay it exactly. It's a long term savings plan. It
always has been what percentage off the top of your head,
because part of the whole debate around KIV SAB is
the lack of interest in it and default funds and
all that sort of thing. What percentage of people you
deal with are actually interested, knowledgeable and know what's going on.

Speaker 13 (35:16):
Well, participation is actually quite good.

Speaker 19 (35:18):
There's three point three million kivis in it, and there's
quite strong representation in the younger cohort, so they do
see you. Younger people in particular, said as a good
scheme to well, first of all, say for the first
home and then longer term retirement. But yeah, the retirement
question is much further out for most people. But participation has.

Speaker 2 (35:37):
Been good good and these debate or difficult times that
we're dealing with tariffs at the moment, do you see
a breakout result in terms of growth versus conservative or
does it keep on keeping on the way it generally does.

Speaker 19 (35:50):
Whether it's tariffs or pandemics or elections, whatever it is was,
markets are always going to react to those, so your
KIV server balances are always going to go up and down.
The benefit with kivs is you're making contributions every single week,
all month or fortnite from your pay So when markets
go down, your contributions are actually buying more value. You're
buying cheaper units in your phone. And then when markets recover,

(36:11):
your benefit from those more units that you brought with
your cheaper dollars. So that's why we say stick to
the plan, stay the course, don't panic, and if you're
really uncertain, get some advice. There's plenty of good advice
out there now. For Q, you said, the linger's good stuff.

Speaker 2 (36:24):
Murray, appreciate it. Murray Harris out of Milford asset with
us this morning.

Speaker 1 (36:27):
Year.

Speaker 2 (36:27):
It all came out of the Trump speech yesterday. Got
it was long, some of it was entertaining, and some
of it was just complete crap. More shortly thirteen past.

Speaker 1 (36:36):
by News Talks.

Speaker 2 (36:42):
That'd be Education Minister on New Classrooms. They've sort of
that particular mess out, remember the bespoke design nonsense that
was going on in the previous government of the massive
But anyway, they've sorted that out and we've got some
detail on that with the Education Minister. Shortly meantime at
seventeen past seven. Quite the watch, lengthy and a sort
of I thought as I was watching at a Castro
goodaff type profession hitting towards two ours. Anyway, he had

(37:03):
a lot of guests and heroes. He had stand up
in tike appluls. Some of them were really cool. There
was a lot of appluals for him. Of course, he
trolled the Democrats, even had a genuinely funny line of
thought for Bobby Kennedy. But how much of what Trump
did yesterday in front of the Joint House was actually
effectually true? CNN's Chica Daniel Die.

Speaker 20 (37:19):
President Trump was believed or not marginally more careful with
the facts tonight than he usually is, But by the
standard of any politician in Washington, who is not Donald Trump.
That was still an extremely dishonest speech. I counted at
least thirteen flat false claims, and that is a preliminary
count that doesn't include a whole bunch of additional misleading
or uncorroborated claims. He for example, repeated his false claim

(37:40):
that foreign countries like China pay his tariffs, though Americans
make those teriff payments. He wildly exaggerated figures on inflation
and immigration under President Biden. He claimed to have terminated
something called the Green new scam, even though the Green
New Deal Congressional Resolution was never actually passed, and Trump
has not repealed the big environmental law that President Biden
did pass. But now I want to go into detail

(38:01):
on an important and eye catching claim that was highly misleading.
The President talked at length about millions of people being
listed as alive in a Social Security database even though
they're obviously dead. I've spoken to conservative experts about this claim,
and they've noted that the president is leaving out something
absolutely critical to understanding this issue. Here's what he failed
to explain. These numbers are not the numbers of dead

(38:23):
people who are actually getting paid Social Security checks. Trump
was referring to a legitimate problem with some debts not
being marked in the Social Security database. But that doesn't
mean people at listed as being one hundred and fifty
two hundred three hundred are actually getting money. And that's
because Social Security already has a system in place to
automatically cut off people who are listed as being one
hundred and fifteen or older. Now, two years ago and

(38:44):
Inspector General looked into this, she found there were about
nineteen million people one hundred or older who were not
marked a deceased. But critically, she also found that only
forty four thousand of these people were actually receiving payments,
And one conservative expert told me even those forty four
k are likely legit payments since at the time they
were about eighty six thousand living Americans age one hundred
or older. Now, let's listen to something the President said

(39:06):
about the war in Ukraine.

Speaker 5 (39:08):
Europe has sadly spent more money buying Russian oil and
gas than they have spent on defending Ukraine by far.
Think of that, and we've spent perhaps three hundred and
fifty billion dollars.

Speaker 20 (39:21):
Those are fictional numbers, and this is a fictional narrative.
President Trump keeps telling the story about how the US
has sent Ukraine way more than Europe has collectively. In fact,
Europe has committed and provided more aid to Ukraine during
this war than the US has. So Trump said the
US has spent maybe three hundred and fifty billion and
Europe one hundred billion, while a German think tank that
closely tracks this issue found the US has committed about

(39:43):
one hundred and twenty six billion, actually allocated about one
hundred and twenty one billion, so way less than three
hundred and fifty billion. He said Europe has spent one
hundred billion, while the think tank found Europe had committed
two sixty three billion, so way more actually allocated about
one hundred and forty billion. Now you can get different
numbers with for counting methodologies, but nobody legitimate, even the
US government itself, has gotten anywhere close to that three

(40:05):
hundred and fifty billion figure that President Trump keeps using.

Speaker 2 (40:08):
Daniel Dale. The other thing he claim. He is on
the phone yesterday to are the heads of the three
major carmakers, claiming that they are all loving tariffs, which
I know not to be true because the guy who
heads forward the other day used the word chaos. It
is chaos, so he made that up as well. Seven twenty.

Speaker 1 (40:25):
The mic Asking Breakfast Full Show podcast on iHeartRadio call
it by News Talks Evy.

Speaker 2 (40:33):
Now, whether you're looking to buy a homer and bestly
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SBS Bank pasking right at seven twenty three. Overall, Richard Prebble,
I think is to be congratulated on quitting the way
Tangi Tribunal. We talked of this yesterday briefly. There's an
argument that says he was appointed for a reason. That

(41:36):
reason might be the alarm with which the current government
views the tribunal gets someone in there to write the ship.
Those within the ship might be celebrating what was seen
as trouble when the appointment was made. You can also
argue that you can't make change if you aren't in
the room. This is the counter argument. And if everyone
in the room makes a Prebble like decision, the inmates
will carry on more happily with the running of the asylum.

(41:57):
But on principle, I think is right, and I like
people driven by principle. I mean, it's easy to take
the cushy job or to collect the pay while pretending
your presence makes some sort of difference In reading Prebble's
piece yesterday, and if you haven't, you should. It is
very clear that he has worked out that the place
is so jacked up he won't make a job of difference,
which leaves us with those who can. As I have

(42:19):
argued Lord knows how many times now over the years,
the Tribunal these days is dangerous. Their worldview suited the
Labour government, and the ensuing reinterpretation of the treaty allowed
them and the public service to run wild with any
number of money wasting time, sapping energy draining exercises, all
run under the misunderstanding that Marai need a completely different
deal than non Mari. We are not one country, we

(42:40):
are too. This current government had and campaigned on a
more realistic view, namely that the Tribunal is guilty of
massive over Each is wasting a lot of time writing
a lot of reports that are not legally binding and
in layman's terms, making it up as they go along.
Their legitimate duties i e. Historic grievance are with the
old extreme exception long since dealt to, and the ongoing

(43:01):
work is artistic dabbling at best. What's holding this government up?
I got no idea, but no. Small part of the
last election, increasingly distant in the rearview mirror now, was
race and race relations and the broad sense that the
morrification of this place was too ropy. The tribunal needs
winding up, and before it's wound up, it needs a
rocket of reality and a kick in the jacksy. They've

(43:22):
had none of that, which plays sadly into the narrative
that this government does a lot of talking, not a
lot of doing, which, like a resignation, plays nicely into
the hands of the agitators. Asking Trump he's been on
the truth social just a couple of moments ago, and
reporting on his phone call this morning with Justin Trudeau
that was expected visavi the tarifs, He says as follows,
Justin called me what could be done about tariffs. I

(43:43):
told him that many people had died from fentanyl that
came through the borders of Canada and Mexico, and nothing
has convinced me that it stopped. He said that it's
gotten better, but I said that's not good enough. The
call ended in quote unquote somewhat friendly manner exclamation mark.
He was unable to tell when the Canadian election is
taking place, which made me curious, like what's going on here?

(44:06):
I then realized he's trying to use this issue to
stay in power. Good luck justin exclamation mark for anyone
who's interested. I also told Governor Justin Trudeau of Canada
that he largely caused the problems we have with them
because of his weak border policies, which allowed the tremendous
amounts of fentanyl and illegal aliens to pour into the
United States. These policies are responsible for the depth of

(44:27):
many people. So that's just Trump a couple of moments ago, Mike,
or should have gone a long time ago. Time for
New Zealand to cut the fiscal rot Love Jeff Mortlock
Michael well respected, knowledgeable individual, respected across the world and
has worked in the most prestigious of organizations. Morning, Mike.
I don't think I've heard anybody talk of his resignators
and notice which for people and senior roles of his

(44:47):
nature would normally be something in a vicinity of six months.
Will Andrew did earlier on this morning, and the transition plan,
which is normal. You go, Will Adrian's out as of
the end of his contract or He's decided to retire
a little bit early, and let me introduce stud DeMarcus,
who had been bringing on for you that none of
that's happened. So what's happened. He's packed a massive sad
because that's the sort of person he is, and he's

(45:09):
stormed off on holiday. That's the beginning of the middle
and the end of it.

Speaker 1 (45:14):
New Zealand's voice of reason is Mike the Mic asking
breakfast with Bailey's real estate, finding the buyers others can't
use togs Head Bell.

Speaker 2 (45:24):
Quickly go to the White House and by the way,
Peter Gordon IV and wanted to get Peter Gordon on
for a while to just get a vibe on the
hospital scene in this country and see what's going on.
Here's misleave it at the White House.

Speaker 21 (45:33):
One of the only things that could get Democrats off
their feet last night was cheering for Ukraine, not for America.
Last night was a very clarifying moment for our country.
The Democrats exposed themselves as the party of insanity and hate,
the party that wants to put America last. They've allowed
their Trump arrangement syndrome to stop them from celebrating America

(45:56):
and our people. And we will not allow them to
forget that.

Speaker 2 (46:02):
There's an article floating about this morning that says that
Stephen A. Smith could run for the Democrats if I
had time. Not come to that in death money anyway,
back here from the old education file, lot's going on
exams that aren't being passed in principles, wanting extra credit
so kids don't give up and leave school? Dare I
mention the lunches? And now news on property post the
mess uncovered last October, we have seen as follows, a

(46:22):
thirty five percent increase of the number of prefab classrooms
being delivered. Average classroom costs have also fallen from one
point two million dollars down to eight hundred and seventy
thousand dollars, and school maintenance is also getting a thirty
four percent funding increase. The person in chargeable this is
the Education Minister of course, Erica Stanford, who was with us.
Very good morning to you. Good morning mate. The one
point two down to eight hundred and seventy was that easy?

(46:43):
Was there so much bespoke designing going on? You could
slice with alacrity.

Speaker 10 (46:48):
There was you know, it didn't actually take a huge
amount of effort to really drive efficiencies through using these
off tite manufactured bills, and we went I've been to
visit a bunch of them. They're do an amazing job,
A warm, safe, dry, I mean.

Speaker 14 (47:01):
Well into the girls.

Speaker 10 (47:02):
We built four two story blocks, fourteen classrooms and twelve
weeks at a cost of five hundred and fifty thousand
dollars each. You know, when when you put your shoulder
to the wheel, you know you get results.

Speaker 2 (47:12):
Whose shoulder is at the wheel? Is it yours? We
sort of talked about this the other day. I mean,
how does this this one point two million dollars bespoke
stuff go away? Do bureaucrats simply follow instructions? At no
point does anybody go this seems expensive?

Speaker 19 (47:26):
Well, look, all I can.

Speaker 10 (47:28):
Say is that the Ministry has been responding to the
things that I've been asking them to do. And when
we did the report and flushed it reading out and said, hey,
we're going to change our behavior. We're not going to
overpromipt and under the level, we're not going to have
poor communication, and we're going to drive efficient bees through
using ombs and repeatable designs when we can't. They did
what I asked, and we're doing it.

Speaker 14 (47:48):
But I still got a.

Speaker 10 (47:49):
Long way to go, don't get me wrong.

Speaker 2 (47:50):
Well, that was my next question because it's classic government announcement,
thirty four percent funding increase. Does that solve a problem
or is it just a thirty four percent funding increase.

Speaker 10 (48:00):
It was around the maintenance and that's the depreciation stuff
we're talking about. So that's the going into classrooms and
replacing moldy walls and walls that are falling apart, and
that's really been neglected for the last six years.

Speaker 19 (48:12):
It's really easy to.

Speaker 10 (48:13):
Defer that stuff and not put any money in. So
we've put about seven hundred million dollars in last budget,
which was well more than the last six years combined.
Because we know that if you don't want to have
to keep building your classrooms, you maintain the old ones.
It's not a real no brainer.

Speaker 2 (48:27):
No indeed. But does it solve a problem or does
it just scratch the surface.

Speaker 10 (48:33):
It's gone a part of a way to solve a problem.
There's a big problem. We haven't maintained buildings properly for
a very long time, and we haven't been keeping up
with building enough classrooms because they've been we've been funneling
too much money into the spark stuff so we are
behind and that's why we're playing a massive catch up.
But I'm going to have some announcements over the next
few weeks that we're able to now do because of
the fact that we've been so efficient, so we can

(48:55):
build all classrooms.

Speaker 2 (48:55):
So that's two point four billion and the budget, et cetera.
So you won't be tapping into that. This is just
money saving that you spend in better places elsewhere. Absolutely, Okay,
the credits argument, while I've got you this business that
goes from should go from twenty to sixty and these
kids leaving school and we need to go soft, is
there an argument for that at all or not?

Speaker 10 (49:16):
There's no argument. And the reason there is no argument
is because I know every single one of those kids,
every single one. I've asked the ministry to go out.
I'd work out who were the children last year who
sat year eleven the corequisite through literacy and numerous exams,
and pass them that come back to year twelve, and
we are targeting every single one of them. We've put
on millions of dollars of professional learning and development and

(49:37):
release time to help teachers work with these students to
get them across the line, because all we do, if
we lower the stands and lower the paris, we push
the problem somewhere else. And we know the life outcomes
for those children the longer we keep them at school
and the more we do to get them across the
line with basic literacy and numeracy. And by the way,
these assessments are set at the end of intermediate, this
is not like trigonometry and calculus. This is life, Livia,

(50:00):
life stuff. We have to get them across the line,
and I'm not prepared to lower the bar, and we
will continue to work.

Speaker 3 (50:05):
Hard with you.

Speaker 2 (50:06):
Do we have an attitude problem within the teaching community
without getting too aggressive about it, is there a problem
there that they like to talk about giving up as
opposed to being determined not to.

Speaker 3 (50:17):
Look.

Speaker 10 (50:18):
I don't know. It's tough for them. And the reason
it's tough is I've been a lumped with this. The
previous government put the literacy numercy assessment in place and
kind of went with the high school's.

Speaker 16 (50:27):
Good luck to you.

Speaker 10 (50:27):
They didn't do anything else. There's no new curriculum, there
was no new materials, there was no new assessment plan,
there was no professional learning development that they stopped math,
professional learning development. They deprioritized it. So all of the things,
the ingredients you need to get these kids up to standard,
they didn't do. And so you can feel for the
high schools who are going well, thanks very much. We
now have these children who are failing and it's up

(50:50):
to us. We've got years of learning to make up for.
So I understand that they're feeling really under pressure and
I'm trying to support them the best I can.

Speaker 2 (50:58):
Is there a relationship because I took person the Lumbridge
having come from what you would loosely call a poor
background myself? Can you correlate economic circumstances directly with desire
to pass an exam or not?

Speaker 7 (51:14):
No?

Speaker 10 (51:15):
It is Look, if you are from a poorer background,
your means certainly determine your destiny in this country. It
has done on trying to change that, and that you know,
you don't have as many opportunities as well as your kids. However,
the real driver is that we haven't been setting kids
up to sit exams. You know, some kids do not

(51:35):
sit their first exam until they're in year eleven or
year twelve, and we expect them to pass. It's no
building of good habits and study habits and how you
sit an exam because we've been so illergic because we
think that it's terrible for the mental health a test
for goodness sake, we're changing that. But those kids from
poorer background don't have parents who have got the means
or often the time to be able to help them

(51:57):
out to get ready. So that's why you get this
Matthew effect of the rich getting richer and the poor
get poor and the education system.

Speaker 2 (52:04):
Right in very simple terms, do you not like David Seymour, Yeah,
we cant.

Speaker 10 (52:07):
All here very well.

Speaker 2 (52:09):
Is it a media pile on?

Speaker 16 (52:11):
Then?

Speaker 10 (52:12):
Ah, it is absolutely a media pile on.

Speaker 19 (52:14):
We do think regularly to.

Speaker 10 (52:15):
Go over the issues, the whole demanding answers with absolute
media beat up. They've decided unlike you know, they like
the sensationalized stuff and create stories where there is really
nothing but there you go.

Speaker 2 (52:27):
Nice to talk to you appreciate it. Erica Stanford, the
Education Minister, our time and what a time it has been.
Were the Adrian or over the years? Next sixteen too.

Speaker 1 (52:37):
by News Talks.

Speaker 2 (52:42):
It'd be Mike most importantly, it's only seventy one days
until Clarkson's Farm Season four starts. I didn't know that
seventy one days doesn't seem that far away. So I
am now officially quite excited a little bit. Now yesterday,
what was going to happen to Adrian? Or chances are
he is never going to be on the program again. Fortunately,
when he did turn up it was always interesting impression.

Speaker 13 (53:05):
So far, there are a lot of challenges well identified.

Speaker 19 (53:16):
We're just going to have to roll with it.

Speaker 13 (53:21):
We don't have the tools, and we shouldn't be in
the position of saying who gets what? We are in
a much better position when you have had at this
time last year.

Speaker 2 (53:29):
How can we argue the economy is good when it's
barely out of recession?

Speaker 20 (53:34):
Yeah?

Speaker 13 (53:34):
I think you know, probably I'll take the emotional word
good out of the way. Where you are through this
incredibly volatile period.

Speaker 2 (53:41):
Do you have any clue? Does anybody have any clue
when it ends?

Speaker 19 (53:46):
Well?

Speaker 2 (53:48):
No, have you engineered a soft landing? In other words,
you've landed a seven four seven on a dime, So
you know it's going to be for your heart? Now
was shouted, I was torn at are you disappointed we

(54:09):
are here.

Speaker 13 (54:13):
I lasly expected to be here.

Speaker 2 (54:15):
You cannot do anything more than you've done, except completely
stuffy economy by going to five seven five or even
sexual threatening to while all these other idiots out there
don't care. Yeah, yeah, it's a three trucker.

Speaker 13 (54:37):
Inflation, inflation expectations and priceding behaviors are now consistent. We
can't drive nuitary policy through the rear vision.

Speaker 2 (54:50):
If fair value is fifty seven US and forty five P,
what's that tell you about New Zealand economy and the country.

Speaker 12 (54:59):
Well, that's right.

Speaker 13 (55:01):
If we get significant global inflation, come back again, we're
going to wear it.

Speaker 2 (55:09):
Do you carry any responsibility? Do you think for the
number of people who are packed up and left because
we're buggered and you buy it.

Speaker 13 (55:17):
Monetary policy, we focus on low and stable inflation. That's
all we can provide.

Speaker 2 (55:26):
Surely we can go to New Zealand on air and
get a comedy grant out of that. Adrian Or on
the mic asking Breakfast Tenderweight.

Speaker 1 (55:32):
From the mic casking Breakfast with the range Rover, the
LA News, Togstad b.

Speaker 2 (55:37):
Gif Peter Gordon. In a moment, I'll explain all this
Sally seven away from it. In the meantime, let's look
at Northland's horsepoo issue. We have a bye law being
considered that we'll hold riders accountable for their deposits. The
varn Lord Deputy Mayor Kelly Stratford is with us on
this Kelly morning.

Speaker 17 (55:53):
Good morning, how are you this morning?

Speaker 2 (55:54):
Very well? Indeed, what we're dealing with here, I'm assuming
is a lot of horses and a lot of country roads.
Is that right?

Speaker 14 (56:00):
Oh?

Speaker 17 (56:00):
We have a keeping of animals by law that we
consulted on and there was one little line in there
about packing up your horse newer in public spaces. And
instead of this by law creating a lot of division
over the cats de six thing, it's come down to
the horse food here.

Speaker 2 (56:20):
Yeah, well they wouldn't.

Speaker 17 (56:22):
People riding on roads. It's just in things like town
squares and public space.

Speaker 2 (56:28):
Do you get a lot of people on a horse
in the town square? Because see, I spent a bit
of time my time in the country and we've got
horses out there, and the horse rides along the lane
and the horse does the business and no one expecting
anyone to pick it up. It's a horse, for God's
sakeing it's the country.

Speaker 17 (56:41):
You're exactly right. There's mountain made out of a mole
hill here, and going through the consultation process of a
bylaw is the opportunity for people to have their voice
about things that seem to be ridiculous but aren't actually real.

Speaker 2 (56:58):
Oh, there's too much consultation, Kelly. This too much consultation
on bollocks going on.

Speaker 17 (57:04):
Well, we're talking horses, not bollocks.

Speaker 2 (57:05):
So well, no, that is true, But I just wonder
it's one of those things if you ask people were going, well,
I'll tell you what, and then they'll tell you your story,
and the next thing you know, you've got far too
much consultation.

Speaker 17 (57:16):
I just can't believe that we're having this conversation about
this consultation of all the interviews that we could be doing.

Speaker 2 (57:23):
Well, what would you like to do an interview on Kelly.
Participation in the local body politics? Are you standing again.

Speaker 17 (57:30):
As I am?

Speaker 16 (57:31):
Yep.

Speaker 17 (57:31):
The elections are coming up in October, and yeah, I'm
enjoying myself and I feel like I've got a lot
more to do on the local government.

Speaker 2 (57:42):
What's the participation rate in your particular part of the world.

Speaker 17 (57:45):
I think I was sitting at around forty one.

Speaker 2 (57:49):
I mean you should be consulting on that, shouldn't you.

Speaker 17 (57:51):
Well, our ce has it as a KPI to increase
so to participation in engagement, and we actually had a
really good event last year explain to people what council does.
It was called the State of the Far North, which
it lifted the load and it made people more aware
of what councils actually do. And yeah, a lot of

(58:13):
people felt more informed. So we want to see more
of that good, not just and it's not about a campaign.
It's about our council making people making, making local government
more relevant than people go.

Speaker 2 (58:27):
Well, I hope that right across the country more people
turn up for the election this year because I tell
you people moan a lot, but then having known they
don't participate.

Speaker 17 (58:36):
Yeah, it's certainly best than just the vote.

Speaker 2 (58:38):
Couldn't agree more with your Kelly. My apologies for bringing
up about the horsepoop will never it will never happen again.
It will never happen again. I'll blame other people. But
you know we've had a nice chat anyway, haven't we. Yes,
we have good on You're nice to talk to you, Kelly, Kelly,
Stratford far No, definitely, Miss Sam who's in charge of
that nonsense. Don't want to see that nonsense on that
program anymore. Please five to four Supreme Court the cutting

(59:00):
of the aid that they want three and a half
billion dollars worth. The Conservative Supreme Court it has said no,
you cannot cut the aid. So none will not be happy.
Or he's at a phone call with Justin he's not
happy about that, and he's not happy now with the
Supreme Court. I don't know what he's going to do
about it, right, Pleeta Gordon. The hospow industry. After the news,
which is next? You're on the my Cosking Breakfast.

Speaker 1 (59:29):
Mike coskame instateful, engaging and idle, the my Casking Breakfast
with a Vida Retirement Communities, Life Your Way news togs Head.

Speaker 2 (59:40):
Be right over to seven past day. But I wanted
to get an insight into the hospow sector. Depending on
who you listen to these days depends on how well
it's firing. Right, So the headline material is we are
not spending any number of well estabilised operators are going
to the wall. And yet over summer we Caddy and
I have experienced basically the opposite. There are people that
are that are hard to find. It's impossible to get

(01:00:02):
a booking. There seems no shortage of good operators doing
just fine. Thank you so some expertise from Sheer Peter Gordon.
It also happens, by the way, to be heading to
our first ever meatball festival in Hawks Bay, and peters.

Speaker 22 (01:00:14):
Willis very good morning, oh good morning, and lovely, lovely
to see you now.

Speaker 2 (01:00:17):
We've been wanting to get you in for ages for
a variety of things. And some of the things I've
observed over the holiday period in terms of the hospitality
industry and who's doing well and who isn't and how
you can do well and so on and so forth.
It turns out you're into the meatballs these days. And
for people watching this on a video, they can see
the meatball that you've created, which is really a meatball

(01:00:38):
plus a whole lot of a coot from all it is.

Speaker 22 (01:00:41):
It's kind of it's like a it's a mini meal.

Speaker 2 (01:00:44):
I think it tays very much. So can you go
wrong with a meatball?

Speaker 22 (01:00:48):
A yeah, I think a meat ball could be really
firm and not pleasant to eat, quite dry, you know,
depending on the meat. So if it's made for meat
that you've gotten it, you could have something that's just
too floppy, like not firm, flavoring, always, seasoning always, So yeah,

(01:01:09):
there's a lot you can do wrong.

Speaker 2 (01:01:10):
What have you got here?

Speaker 22 (01:01:11):
By the way, this is wugu beef, so it's the
first like grass fed wugu well from around the country.
And there's spices, there's ginger, and there's cloves. Sorry, nutmeg,
and that's a little nod to the meatballs that this
whole festival is based around. In Hastings is sort of
a Dutch thing that they use a lot of nutmeg

(01:01:33):
and their meatballs. So there's some of that in there.

Speaker 2 (01:01:35):
So can I where do you go as an expert
in this particular field? So nutmeg does it stand out
with all that you've got going with that meatball?

Speaker 22 (01:01:45):
Interesting you say that, because last night when we ate these,
I thought dial up the nutmeg. There's nutmeg, and it's
an interesting thing because we think of nutmeg as something
you'd have on a custard tart or a dessert, but
in lots of parts of the world that's used in
savor food as well.

Speaker 2 (01:02:01):
Okay, what's the history of the meatball?

Speaker 22 (01:02:03):
This meatball festival is based around these hawks Bay meatballs
that are basically a mince that you cook off, you
thicken with a beshmal sauce, you chill it, you roller
into balls. So at this point it's like a ball
of bolonnaise. And then they flour eggash and bread crumbed
and deep fry it. So it's like a we would
call it a croquette. Okay, yeah, if you think of

(01:02:23):
a croquette, that's sort of the Hastings meatball and that
was I believe a German immigrant who brought them to
Hastings and they became legendary and now peeps people do them.

Speaker 2 (01:02:34):
Everybody has a meatball experience in their life, don't they.
I mean yeah, I mean it's what mummide, it's how
you do it. It's so and you can put it
on the barbie can call it.

Speaker 1 (01:02:42):
So.

Speaker 2 (01:02:42):
The rest of what's going on there? What have you
got on top of it?

Speaker 22 (01:02:46):
On top there some red onions peopled and a little
bit of vinegar carwa Kawa sald severiti. So there's capers
and fresh carracara, dried corwakawa horse readish crispy schlots on
top and then a strained yogurt labne whipped up with
olive oil down the bottom.

Speaker 2 (01:03:03):
Did you make that up? That whole thing?

Speaker 22 (01:03:04):
Yeah? Yeah, I was thinking when I was asked to
be involved in the meatball fest, well, I thought, what
do you do?

Speaker 19 (01:03:10):
Like?

Speaker 22 (01:03:10):
What else is there going to be? And there are
going to be seafood meatballs, there's going to be pork ones,
there's some with power, so they're going to be a
real variety of things. And I thought, it's just got
to look really pretty, be tasty and sort of you know,
do a good service, not a disservice.

Speaker 2 (01:03:24):
Fantastic, and you're doing this with the young people so
to speak.

Speaker 22 (01:03:29):
Yeah, there's students from the it the technical college there.
They're going to be helping me on Thursday week, Thursday
and Friday next week.

Speaker 2 (01:03:37):
I don't know if this is in your wheelhouse or not,
but how many of these institutes are there around the country.
I mean, it's cooking and wanting to work with food
still a big thing.

Speaker 22 (01:03:47):
I think I'm not sure the exact number of colleges
around the country doing it, but it seems that numbers
have dropped off a little bit, and which is a
shame because we need you know, hospitality is one of
our big earners here and you know we export really
good kitchen people around the world, so it should be
a really appealing job.

Speaker 2 (01:04:09):
Fantastic. Let's talk more about hospone just a couple of moments,
So Peter Gordon with us in the studio. By the way,
Trump has just announced and this is how loose this
guy is. He's just announced a one month exemption on
terrace for US cars from Canada and Mexico because of course,
the cur industry, as I quite rightly pointed out, is
not a fan of it. And what you see yesterday

(01:04:31):
is complete crap and it is chaos. And so he's
now announced a one month exemption for US cars. Justin
twelve past eight the.

Speaker 1 (01:04:40):
Mic Hosking Breakfast Full Show podcast on iHeartRadio powered by
News Talk.

Speaker 2 (01:04:45):
Zippy fourteen minutes past. So just on the Trump thing,
market's gone through the rooftown Jones up five hundred and
sixty six points, so it's all over the place. Anyway,
back to hospite. Peter Gordon's with us. Now listen what
I want to mainly get you into, but is part
of the problem with hospital This whole messaging thing around.
You know, everything's extremely negative. You know, no one's spending

(01:05:06):
everyone's closing.

Speaker 12 (01:05:08):
Well.

Speaker 22 (01:05:08):
I think I don't know that the young people are
necessarily listening to that in the way that we probably do,
or that people who own a restaurant. I think it's
just I don't know. There was a period when Jamie
Oliver sort of hit the scene and young people all
around the world flocked to become a chef. They're like, oh,
my goodness, I want to be that guy there. So
I think Jamie, there's the golden period when Jamie was

(01:05:30):
around and people felt But then what happened was a
lot of young people would look at Jamie and go, oh,
he became really famous in two years time, I want
to do that, it's not happening. Would drop out. So
we had this sort of drop out and I guess
I'm talking about the UK where I was living for
a long time, but the I don't know people at
the restaurant. You could be really negative about the restaurant

(01:05:52):
scene in New Zealand, or you could be really positive
and just say, look, there is going to be attrition.
There's going to be a lot of people who you know,
there are a lot of people having really tough times,
and there are people closing in every day there's something
you know, you read in the paper, an institution or
something shut down. But at the same time, there are
lots of new places opening, and there are lots of
young people who've come back to the country or people

(01:06:13):
who have decided to do something else. Restaurant's gone under,
so someone sees the opportunity and opens it up. So
it's always a given and take. There's always lots going on.

Speaker 2 (01:06:24):
That's why I can't get my head around. There was
a group and I think they called the U Group
in Wellington and they were closing something the other day,
and one of them was a fine dining establishment. They'd
worked out that fine dining wasn't their things, so they're
going to do something else. But the totality of the
piece I was reading was that actually opened six but
closed three. So therefore that's expansion in simple mass. How

(01:06:44):
much of that goes on. So in other words, there's
a churn within the industry, and that's just the industry
it is.

Speaker 22 (01:06:50):
And but to be fair, I think sometimes I do
think that there are too many restaurants. Like I remember
being in Wellington and people would say, oh, we've got
more restaurants head of population in New York and it's like, well,
you know, in New York no one really has a kitchen,
so that makes sense. But is it going to work?
And is it sustainable? And you know you can't control that,
but I but sometimes you do think there's just a

(01:07:12):
lot of places and if if there were less, you know,
that all be a lot busier. But of course that's
up to people to decide to take the risk or not.
And it is a risky thing. You know, there's a
high percentage of restaurants in their first twelve months of
opening will close. You know, they won't survive the first year.

Speaker 2 (01:07:28):
And are is that in your experience because of fundamental
issues you should have avoided or things beyond your control
that you couldn't have seen coming.

Speaker 22 (01:07:36):
I'd say it's a bit of both. I think there
are some people who you know, they've made a great
Their friends have told them, you'll roast chicken dinner that
we come around every two months is really good, You
should open a restaurant, and they do, you know, so
you get some of that and you get people, and
sometimes it's something else it's a there's a roadblock, there's
a diversion, there's a there's all sorts of things that

(01:07:58):
can affect your business.

Speaker 2 (01:07:59):
You know, you need Monsoon Poon, which is for people
listening around the country, is a pretty well established and
fairly famous restaurant in Auckland is closing. But they're closing
because the buildings went sold and the buildings is going
to get bulldozed. So there's not a lot you can
do about that. So where are you at as one
of the great restaurateurs of New Zealand.

Speaker 22 (01:08:17):
Well, I think my restaurant tour days may have ended, really.
I mean, we vacated our building because it's being developed
and we're not part of the future of that. So
you know, we had to figure out what we're going
to do with that, and I with Homeland itself. Homeland
was more than just the restaurant, you know, for us,
Homeland was a cooking school. Homeland was a place where
we did work with producers and we did a lot

(01:08:39):
of charity work with communities, and that was for me,
it was the perfect job. It was after all these
years in the industry, I'm now finally in a place
where all this good stuff not just cooking the fancy
food and put it on the plate was happening. But
we've decided We've been looking around. We've had a few
sites offered to us, and we've looked at them and thought,
do we want to do We want to do this,

(01:09:00):
We want to take on this risk. We want to
sign up another five, eight, ten year lease with someone,
you know, what's our risk? What's what do we want
to do? And I think actually the stuff that I
really loved at Homeland is the producer work, is producing goods,
our own Homeland products and stuff. And that's the stuff
that we're going to focus on. So moving forward, we
will we won't have bricks and watar you know, we'll

(01:09:21):
just do consultancy where you know, I can go into
a space and I can give them, you know, years
of wisdom hopefully and you know, and in part really
good information and good stuff, but not take on the
risk of the land all.

Speaker 2 (01:09:35):
And does that and does that? Does is that? What's
that a reflection of just where you're at in life
as opposed to the industry or anything else.

Speaker 22 (01:09:42):
I think that's where I am. Yeah, it's where I
am and I will be sixty two shortly, and I've
sort of done most of the things that I ever
wanted to do, you know, like I've done restaurants in
different countries. I've cooked amazing dinners, I've done ranges of
food for this and it's really just what what do
I want that's a bit less stressful, that is quite fun,

(01:10:02):
that doesn't carry a lot of risk with it. And
I think sort of consulting, working on a range of products,
homeland products, still doing producer work. You know, we would
often have at homeland. You might get the Pacific Trade
Investment would bring five nations into the country, into homeland,
and we'd sort of work with them. So it's now

(01:10:23):
looking and thinking, you know, maybe what I can do
with some outreach work going to other places and you know,
doing that fantastic.

Speaker 2 (01:10:29):
Well, let me grab this, let me grab this play.
And so I know that the Carwa car is very
you though, isn't it. That's having eaten a number of
your places over the years, that that's your sort of thing,
isn't it.

Speaker 22 (01:10:39):
Yeah, it's one of our indigenous herbs that you can
sort of relatively easily access. And that Carwa car is
from our place, our house out at peehart grows wild everywhere?

Speaker 2 (01:10:49):
So yeah, how long did this take you to make?
From woe to Go?

Speaker 22 (01:10:54):
I made that yesterday probably in an hour, so less
than an hour. I mean I've been I had the
idea'd had the concept, put it all together, did a
bit of shopping, got home and then you know, the
yogurt had to be hungover night. Onions had to be
pickled for a couple of hours.

Speaker 2 (01:11:11):
But that's superb. Oh, thank you, it's just beautiful. What
would you charge for that?

Speaker 22 (01:11:17):
I think that's probably going to be sort of in
the eight or nine dollar mark.

Speaker 19 (01:11:20):
Sere.

Speaker 2 (01:11:20):
That's a bagain to me for that. I mean that's
like that's a school lunch.

Speaker 10 (01:11:23):
Peter.

Speaker 22 (01:11:24):
Oh, there you go.

Speaker 2 (01:11:26):
Good luck with the good luck with the festival, and
appreciate your advice and insight in the industry as well.
Good to talk to you.

Speaker 22 (01:11:32):
Oh, thank you, Mike all. It's good to talk.

Speaker 2 (01:11:33):
But Gordon with us. By the way, the meatball will
meet balls as he's made for three of them, and
as always on the video, if you want to go
to the website, you can see me eating a meatball. Well,
that's going to do something for your Thursday eight.

Speaker 1 (01:11:47):
Twenty one, the My Hosking Breakfast with Bailey's Real Estate
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(01:12:59):
Mic free Ends offered to take us out for a
fine dining night on the town this Saturday. They phoned
more than a dozen of Auckland's most famous restaurants. Couldn't
get a table, and they were calling on a Tuesday.
They were getting quite desperate. Good to see, Mike and Peter.
I think hospitality students are dropping off due to the
type economic reality the industry is going through. Decent restaurants
have either closed down or have had to slim down.

(01:13:21):
If people aren't exposed to such service, they don't consider
working in it. That's actually quite a good point, Mike.
I did a chef apprentice apprenticeship through SkyCity a couple
of years ago, studied cookery through the high school. Loved it.
It's hard, but I absolutely love it. That's good to
hear enjoy the interview with Peter Gordon. He's an amazing person. Carli,
as you're right, known Peter for years and years in
the years midim first in London when he was operating
in that part of the world. Mike, are nice to

(01:13:42):
hear a balanced interview from Peter. I don't know, oh,
on the industry. I was going to say, I don't
think that Peter's unbalanced about the industry. It's certainly not easy,
but definitely not the basket case the media make it
out with the clickbait. Very good point on that as well.
Andrew from Il Papa in the Vatican. The official word
from the Vatican is the Pope is stable, so that's encouraging.

(01:14:03):
Joe was with us from the Vetican earlier on in
the program. We said, we keep you up to date,
which is which is what we do. Starma and Zelensky
and Trump and the war. He is walking a very
very fine and might I say this particular point in time,
and Rod's called us from day one expert line at
the moment. So more from Rod and k Istama in
the war after the news which is next here a

(01:14:25):
news talks.

Speaker 3 (01:14:26):
EDB, news opinion and everything in between.

Speaker 1 (01:14:33):
The Mic Hosking break best with the range rover villa
designed to intrigue and news talks EDB.

Speaker 2 (01:14:39):
Peace Keeper in chief so Kiya Istarma.

Speaker 9 (01:14:42):
We need to do everything we can to ensure that
the US, Europe and Ukraine are working together on lasting peace.
And I'm doing everything I can to play my part
in that in regular contact with or all of their
key players at the moment cleaning Talking to Presence Lensky yesterday.

Speaker 1 (01:15:02):
Afternoon International correspondence with ins an Eye Insurance Peace of
Mind for New Zealand Business.

Speaker 2 (01:15:08):
Now O my Rod, Little's Rod bring good morning to you,
Good morning to you. Make I haven't talked to you
for a while because you're off the other day. But
I mean you called it. I mean you've called it
spot on. I mean he's I don't care who you
voted for. That trip to the White House a week
and a half ago seems like an age ago. That
what is he's agreeing with bed knock in the house.
He's working his ass off in Europe. I mean, it's

(01:15:31):
it's it's stellar stuff, isn't it.

Speaker 12 (01:15:34):
It is stellar stuff. It's quite remarkable that this adenoid automaton,
who the public doesn't like here and maybe still doesn't like,
you know, has played a blinder in the widening gulf
between the USA and Europe, in the widening gulf between

(01:15:54):
those who think we should leave you Crenti fight it
out for themselves and those who seemply should be given
giving them more support. He has played it with a
deafness and attacked and an intelligence which is beyond all

(01:16:14):
the other European leaders at the moment, the only exception
being Macron, in Manuel Macron, who has been quite sick
a phantic in his reactions to Trump. Kirs Starmer hasn't
done that. You know, when Trump says something absurd or
visible or plainly untrue, Starmer simply doesn't reply. There is

(01:16:38):
nothing out of the of the government's office. They just
don't comment. He has played an absolute blinder on this
and it could be the making of his premiership. And
as you rightly say, you know, in Prime Minister's questions today,
he's got a United House and he's able to deal

(01:16:59):
with it. The degree of comfort, Elise, and who knows
where this will end, you know, if we we don
our wits these days, Mike, you know, as to whatever
comes out of the White House. But it would seem
to me that, for example, the letter from Sirkia from

(01:17:22):
from that Vladimir Zelenski to Donald Trump. I think it's
inconceivable that Sakia, Starmer and possibly Macro were not involved
in some way in persuading Zelenski that that was the
thing that had to be done.

Speaker 2 (01:17:38):
Pretty much.

Speaker 12 (01:17:39):
It came after a meeting, you know, And I just
think he's played it with And even my wife, who
would who who loaths the labor parties, said Michael, he's
done really well.

Speaker 2 (01:17:54):
You can't you can't not. You can't not. You'd be
churlish not to be complimentary about him. Having said that,
bed knocks clearly bright enough to work out that opposing
him in any way, shape or form at the moment,
given the bigger picture, would be foolish on her part
as well.

Speaker 12 (01:18:09):
I think that's true. I think it's also true that
ideologically she wouldn't wish to oppose him. The truth is
that we now have a labor government which is doing
things which the doing things which are so right wing
that the conservative government will have dreamed about. You know
whether it's cutting forard aiding out to give it to defense,

(01:18:31):
cozying up to Donald Trump, or as will come to,
perhaps slashing welfare benefits. You know, it's something which which
bad or not would very much have liked to have done,
but under the previous Tory government could not possibly have done.

Speaker 2 (01:18:47):
Let me get let me get to the welfare and
just mind sorry, no, no, no, not at all, but let
me get to the welfare in just a moment, because
I'm reading these treasury documentary WHI so I thought were interesting.
But as regards Europe generally stepping up, and there was
a very good step the other day about ammunition. So
four and a half million rounds of ammunition came out
of the Americans, one came out of Europe, and even
the one million took a while to get there. Is Europe,

(01:19:10):
in your view, from what you've, actually capable of doing
more than sounding good, looking good, but actually doing it,
doing something tangible.

Speaker 12 (01:19:19):
No, I think it probably is. If you look at
the kind of money per capita that we give to
NATO and Defense, we're above the US and so are
a few other countries in Europe. You know, that's per capita.
I think there is. There is a kind of divide

(01:19:41):
as there always was, you know, in Europe, including over
the over the Brexit referendum and affection for the EU,
between the South of Europe and the north of Europe.
You look at Denmark, which is spending way, way more
than any other country in a per person to protect NATO,

(01:20:04):
and then the Baltic States, Estonian Lapia is only a
Poland Finland all and the Great Britain all paying close
to their whack or over their whack. And then you
look further south, which you might think is reasonable because
they're further away from the conflict zone at Spain, Greece, Citily,

(01:20:25):
et cetera, et cetera. So I think there is a
new realism in Europe, and I think that realism is
reflected in the way in which people are voting in Europe.
And I think politicians have it in their mind that
they must change and must change very quickly. So I
don't think it's all gloom good.

Speaker 2 (01:20:45):
Now back to the budget, So the Office of Budget Responsibility,
they seem to be seducing the world has changed and
you might need to tidy things up. And it looks
like she might so a cat up for writers right
or Gonni slash and burn, and how Labor's there and
how much of this is her genuinely wanting to do
it or simply all visus she got no choice.

Speaker 12 (01:21:07):
I think she a has no choice. I think b
I think within parts of the Labor Party, a few
esoteric parts, maybe Morgan McSweeney, who is the advisor to
Secure Starmer, would have liked this anyway, that there is
a realization that we are paying far, far, far too

(01:21:29):
much in benefits to people who really should be out
there working, you know. And I think I think that
was obviously an obsession of the previous Conservative government, but
it did nothing about it. Here you have a chance
for Rachel Rieves to actually do something about it. And
given the fact that the Labor government has already slashed

(01:21:50):
overseas aid expenditure almost in half from five to three percent,
then I think kind of all bets are off about
what Rachel Reeves does about welfare spending, because what they
need to do is grow the economy, and welfare spending
welfare expenditure simply does not do that.

Speaker 2 (01:22:10):
No exactly. I know the Bank of Governor, Bank of
England Governor was in front of some committee, once again
wondering out loud, you know, what are all these people doing?
Taking money and doing nothing? And this goes to the
productivity equation?

Speaker 3 (01:22:23):
Yeah it does.

Speaker 12 (01:22:24):
Yeah, Its absolutely just and it's a huge problem for us,
and a bigger problem for us than any other country
in Europe. You know, we have failed to get people
back into work after COVID in a kind of monstrous way.
That suggests to me that a large number of people
think we don't really need to work.

Speaker 2 (01:22:45):
You know, well, I'm glad. We We're very glad you do.

Speaker 16 (01:22:49):
Rod.

Speaker 2 (01:22:49):
Nice to catch up with hum. We'll see you next week.
Preciate it very much, Rod, A little out of out
of every Tuesday and Thursday. It's already eight forty five.

Speaker 1 (01:22:56):
The Like Asking Breakfast Full Show podcast on Hard Radio
powered by News Talks.

Speaker 2 (01:23:01):
At BE got all the stats for you. The Warriors
game in Vegas was broadcast free to wear in America
for the first time. The initial round a year ago
was on pay per view, and they got virtually no
one sixty one thousand Americans, So sixty one thousand people
out of population three hundred something millions. Not really good going,
mind you. Neither were the three hundred and seventy one

(01:23:22):
thousand to watch the Warriors on Free to Wear, so
a massive increase from sixty one thousand, three hundred and
seventy one thousand, So you go, oh, that's good. Is
it really? Fox is Free to Wear gets to one
hundred and twenty five million homes, So, in other words,
zero point five percent of Americans tuned into the league,
thus reinforcing the broadview. I would think that they're going
to hard road. I then we come to the cars.

(01:23:46):
A lot of good economic news on the program this morning.
I'm not sure I can offer the same with the cars.
Not a great month for February for new car sales
in this country ninety eight hundred and nine new vehicles
down from the ten thousand, eight hundred and sixty three
in January, level with the ninety six hundred dish in
feb of twenty four, so we've gone nowhere.

Speaker 3 (01:24:04):
In a year.

Speaker 2 (01:24:05):
RAV one, high Lux and Ranger two and three passengers
actually lift. It's the commercial that's killing US. Passenger vehicles
actually up year on year, so that's encouraging, but big,
big drop in the commercial side of the equation. Ongoing
contraction and demand mind you before the tremendous number with
that whole gerrymanned in nonsense that was going on with
the evs. So a lot of commercials sup borught at

(01:24:27):
the time, and they tend to hold those cars for
a fairly long period of time. Top ten, you want
a top ten. Let's to a top ten. Do you
want to go ten through one to one through ten?
You want to go ten through one, ten through one?
All right? The big y D Shark is number ten,
snowbab tied with the Suzuki Swift. You can't get to
two more contrasting cars, really, could you, the Shark or
the Swift number nine, the land Cruiser Prado, the mgzs

(01:24:49):
at number eight, the ASX them at Tubishi Car at
two forty five, the Triton at two sixty five, the
Celtis Kia at two eighty five, the Artlander at four
twenty six, which leaves you with the Ranger Highlight Lux
and the rav at three to two and one. And
that is the month of February for you and chaos
nine minutes away from nine.

Speaker 1 (01:25:07):
The Mic Hosking Breakfast with a Vida Retirement Communities news
dogs head been.

Speaker 2 (01:25:12):
Mike any idea where there's been very little media coverage
around the Murray party being late and in complete tax
return to Titchy. Yeah, we raised this on the programme
Elia on this week. And the reason there's not I
can't so what they haven't filed their paperwork and it's late,
and now the police have got involved in John Tammahi
image in poor ol John the other day, endlessly angry.
You know, the naughty little natives will file on time.

(01:25:34):
I My summation of it is that we don't take
them seriously. I mean we should because they're in Parliament.
You can't argue with it. But because they behaved the
way they do, and because they are the way they are,
people just going it's them again. It's got that devout it.
They are ready sort of like, of course they're not
going to file their paperwork. Why would they, it's anyway.
Panama Canal. By the way, interesting reading yesterday. Panama Canal
has in fact been brought by Americans, which is well

(01:25:57):
worth pointing out because Marco went down there a couple
of weeks ago and he's said, we need to sort
out this Panama business. And Trump started off by going, well,
you know, we built the Panama Canal, which of course
is true as and were as an Americans and the
Chinese are in charge of and that's not on And
what he means by that is that at both ends
of the Panama Canal the company is running them are Chinese,
so Roland Black Rock yesterday, who have gone and purchased

(01:26:18):
the two ports at either end, Hong Kong based firm
twenty three billion ports of Balboa and Cristobal either end
from c K Hutchison Hong Kong Company agreement and principle
also buying a whole bunch of Hutchison's controlling interests in
forty three other ports comprising one hundred and ninety nine
berths and twenty three countries. So it's a big deal.
Constructed by the States in the early years of the

(01:26:40):
twentieth century, completed in nineteen fourteen, and for most of
that time was operated by the Americans. Before the Carter administration,
Oh Jimmy Carter West President ever negotiated the handover to Panama,
and then of course Republicans at the time, if you remember,
didn't like any of that. So to be fair to Trump,
he's been consistent or at least the Republicligans have been

(01:27:00):
consistent on this. About four percent of the world's maritime
trade goes through and forty percent of US container trade
goes through that particular part of the world. So Black
Rock written check for twenty three billion dollars and that
particular problem is now solved. Five minutes away from.

Speaker 1 (01:27:14):
Nine trending now with Chemist ware House, the home of
big brand fight Emens.

Speaker 2 (01:27:19):
Doesn't time flying. Speaking of flying, it was this time
last year we were telling you about Jackie and Shadow
ball eagles from Big Beer in California. And last time
I saw those pictures, and Big Beer reminds me it
was very cold. I looked at the Big Beer picture
and I thought, oh, it's cold. He's at the top
of the tree and the ball eagles at the top
of the tree. Anyway, we were waiting for the eggs
to hatch. You remember that eggs didn't hatch. Very sad

(01:27:42):
none hatched. But we're back and this is the beauty
of nature. This time we've got three more eggs. Now
tell me how many have hatched?

Speaker 22 (01:27:51):
Two?

Speaker 2 (01:27:52):
So this is good? Is it good?

Speaker 19 (01:27:53):
Well?

Speaker 2 (01:27:53):
I think it's good, But Sandy is happy but anxious.

Speaker 23 (01:27:57):
Jackie and Shadow will be feeding them in a on
a constant basis almost and the two of them will
you know, both work to get as much food as
they can, and they will grow very quickly. It only
takes ten to fourteen weeks before they go from this
tiny little thing to over three feet tall. Hopefully there's

(01:28:19):
no bad weather after they get too big to stay
under underneath Jack Your's shadow. But don't have their waterproof
feathers yet. It'll take them about six weeks before they
get their waterproof feathers.

Speaker 2 (01:28:31):
Don't you wish kids were like that that it would
take ten to fourteen weeks to go to three feet
tall and then leave home.

Speaker 12 (01:28:37):
Even then, I think it's a bit long.

Speaker 2 (01:28:40):
What's the weather like? Is it nice? There's a bit blow?
You look very blow and cold, very still snow in
the nest inhospitable in that particular part of the world. Still,
if you're worried, no, no, you are that third egg?
You think you what Mike talk about thirty egg? What's
happening with thirty egg? Well, thirty there is still time
for the third egg to hatch. But if it doesn't,

(01:29:01):
we are ahead. Overall, we are ahead. We are better
off this year than we were last year, and so
that's the good news. We can earn the program on
which really has been festooned with good news today. And
on that very happy note, on more good news, I'll
be back tomorrow. What more good you want? Happy days?

Speaker 1 (01:29:23):
For more from the Mic Asking Breakfast, Listen live to
news talks it'd be from six am weekdays, or follow
the podcast on iHeartRadio.

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