Full Show Podcast: 06 November 2025

Episode Transcript
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Speaker 1 (00:00):
Opinion, Edit, Informed, Unapologetic, The Mic Hosking Breakfast with a Veda, Retirement, Communities,
Life Your Way, News, Togs, Dead.

Speaker 2 (00:09):
B Why are you welcome today? Jobs and the Finance
Minister permits under fast track for gold mining. Six days
turn out to be a booming business. Polls to Henry Olsen,
Back to work us through the vote in the US,
David Cohen and as long awaited, Just Sindra a durnbook
in after Right, Joe McKenna and Rome Rod Little pops
in from England pass They're morning seven past six to
tell you what I'm hoping events this week, at least

(00:29):
in some small way teach us all a simple economic
lesson or two lessen one the red meat numbers, we
export a fortune and meet to the world. The critical
part of it is it is the best of quality.
Quality will always beat quantity. Why because the world will
always contain large numbers of people unaffected by economic tides
and people with money like good stuff. There are some

(00:50):
things in life beyond the prevailing tide. Chateau Lafitte, Buchetti, cars, rollicks,
watches and New Zealand meeting quite possibly in New Zealand.
Why not literally of course, but you get my point. Onions,
we'll sell better in Europe because of our FTA with
the EU. We need fewer tariffs in that case, because
onions are onions. But meat is about quality, like Kiwi fruit,
like great Bordeaux wine is. That's not to say that

(01:11):
tariff's a good business, because they are not. And Lord
only knows how rich we could be if the world
really was truly taroff free. But for the here and now,
our red meat numbers into America are unaffected because people
will pay for quality lesson too, the job numbers more
people young people have stayed or gone back to school
because of they didn't, they'd be jobless. The fifteen to
twenty four age group yesterday have unemployment rates now of

(01:33):
over fifteen percent. It's shocking why, Because a constrained market
doesn't provide work for people with limited and those skills.
Young people start out, of course, with the disadvantage of
no experience. Add no skills to that near toast. This
is not new, but it is new to the current lot,
who clearly never got the previous lot's memo that it's
hard enough as it is to get into the job

(01:54):
market with up without turning up ill prepared. But here's
what I know about life and economies. It doesn't matter
what the economy, the economy or the economic circumstances are.
Good people with good skills and good attitude and good
determination are always always in demand and will always do well.
And good stuff well made with the story high end

(02:16):
quality will always always do well. Quality, whether in person
or product, is recession proof.

Speaker 3 (02:26):
News of the world in ninety seconds, right.

Speaker 2 (02:29):
Off the back of a bad the polls, the Trump
team have Scots to face with. Well, it's a big deal.

Speaker 4 (02:33):
Without are being able to use tariffs really openly and
in every way, really would suffer tremendously from a national
security step point, the national security of our country.

Speaker 5 (02:44):
Six seconds and biggest.

Speaker 4 (02:45):
I think it's one of the biggest decisions in the.

Speaker 2 (02:47):
History of the He's right, a pam of Flora's running offense.

Speaker 6 (02:51):
The President has the authority to do this under his
executive authority. We feel very confident and this is the
most important case in front of the Supreme Court. Not
only is this about national security but also our economics
security around the world.

Speaker 2 (03:06):
But the justices aren't buying it.

Speaker 3 (03:08):
So of my oar, I just don't understand this argument.
It's not an article.

Speaker 7 (03:14):
It's a congressional power, not a presidential power to tax.

Speaker 3 (03:18):
And you want to see.

Speaker 8 (03:19):
Tarists are in out of taxes, but that's exactly what
they are.

Speaker 2 (03:22):
Not even Cony Barrett, can.

Speaker 7 (03:24):
You point to any other place in the Code or
any other time in history where that phrase together regulate
importation has been used to confer tariff imposing authority.

Speaker 2 (03:34):
Well, they're in trouble in Britain. The incompetence of the
government was on full display. So prisoner gets laid out accidentally,
took six days to find the coppers. The Tories laid
the trap in the Commons.

Speaker 3 (03:45):
Can he reassure the house?

Speaker 9 (03:48):
But since Cabatu was released, no other asylum seeking offender
has been accidentally let out of prison.

Speaker 2 (03:55):
It's a very specific question then to answer, let me
walk right into it.

Speaker 9 (04:00):
I know I'm the Justice Secretary, That's why I'm at
the dispatch box.

Speaker 3 (04:03):
Also as Deputy Prime Minister.

Speaker 2 (04:05):
We know that. Of course, we know that there had
been spikes since twenty twenty.

Speaker 3 (04:10):
One under his watch. When did he come to this
house and.

Speaker 2 (04:13):
Apologize on the TV? The Polley's lined up?

Speaker 6 (04:16):
It is just it is shocking and in you know,
we've got.

Speaker 10 (04:21):
To get a grip of it.

Speaker 11 (04:22):
This is very worrying because you know the British public
will be rightly concerned that these people are at.

Speaker 12 (04:26):
Least David Lammy, the Justice Secretary, refused to answer the
questions when he must have known.

Speaker 10 (04:31):
Of course he knew more.

Speaker 2 (04:33):
From Rod later. Of course finally call prize for well,
maybe a Christmas gift in front. So it's a two
hundred and fifty dollars a pop lottery. You want a
chance to buy a burial plot in some of the
famous symmetries. One of the more famous ones could see
you lying next to Jim Morrison, Oscar Wild or Edith
p f If you win, you buy the plot for
eighty one hundred dollars. You then buy the least for
either two years, a couple of grand for teen years,

(04:53):
or thirty six grand and you can have it forever.
Here's the world of ninety that British thing. By the way. Also,
on asylum, the migrant who got in the one in,
one out, the migrant who was sent back then came back,
has now been sent back again. So the out and
out policies working really well, which would explain why the

(05:16):
latest poll out this morning has labor now and third
behind the Conservatives and of course behind reform.

Speaker 1 (05:22):
Thirteen passes the Mike Hosking Breakfast Full Show podcast on
aheart radio power by News Talks EP.

Speaker 2 (05:33):
By the way, despite the shutdown in America which is
now the longest ever, of course, we did get a
private job sector read it's an estimate a payroll process
in company or the ADP came up with. They reckon.
They've added forty two thousand private sector jobs in the
last month, which is good. Fifteen past six and partners
Andrew callahad good morning, very good morning. Makes as job numbers,

(05:54):
what'd you see? Do we see anything good?

Speaker 5 (05:55):
There?

Speaker 8 (05:56):
There is if you look really, really hard. So I
suppose running through all the headline numbers are the unemployment
print at five point three very much in line with expectations,
so called pretty well by the economists. So nothing to
see in terms of surprises in the outcome. But I think,
as has been mentioned, there are one hundred and sixty
thousand people unemployed, because I think it's always useful to

(06:18):
think of the absolute numbers, and that's the highest number
of unemployed people we've seen since nineteen ninety four. You
were just talking about youth unemployment. I really do think
this number needs to be talked about. Yeah, fifteen point
two percent for that fifteen to twenty four in our bracket,
but Mike, that was at thirteen point one a year ago,
so that's quite a substantial move. And actually the fifteen

(06:40):
to nineteen bracket is even higher than that fifteen percent.
So those people were all drafted into the workforce when
labors and short supply. Now they've been moved basically out
of work, and so that's probably you're not going to
see that recover though, until you see the actual labor
market recover.

Speaker 5 (06:56):
Now. One of the key points is the participation rate.

Speaker 8 (06:59):
It fell from seventy point five to seventy point three,
so it means people have removed themselves from the workforce.

Speaker 5 (07:05):
That's not good. It's the discouraged worker effect.

Speaker 8 (07:08):
The participation rate is its lowest since twenty twenty. And
of course, if those people hadn't removed themselves from the workforce,
that unemployment rate would be even higher. Employment as opposed
to unemployment fol zero point six percent, and the underutilization
rate is people who would like to be working more
at twelve point nine percent means there are four hundred
and six thousand people that want more work now. Not unsurprisingly,

(07:31):
this all means that wages aren't moving up as fast
as they were.

Speaker 5 (07:34):
The labor costs index rose two point one percent.

Speaker 8 (07:38):
That's the private sector, so that's a four year low,
and I suspected people do get wage rises this year,
it's going to be very low, single digit numbers. Detail
employment falling in the construction, public administration, healthcare, and professional
services sectors. You'd seen some games in manufacturing. That's good
to see. And of course we've got this regional discrepancy

(07:59):
which has been talked to again not particularly unsurprising at
the South Island sitting at four percent, Auckland sitting at
six point one, so a lot higher in the urban centers.
If you're looking for the flickers of growth, Mike, there
are some there. And so you've got the housing, the
household Labor for survey and the quarterly Employment survey. The

(08:20):
HLFS had a zero put nine percent lift in hours work.
That's really good to see. You also saw that corroborated
in the quarterly employment survey and lifting jobs and ours
work there as well, So I think that's that is
a precursor for stability, So it could indicate that this
is the peak.

Speaker 5 (08:38):
Big picture comments.

Speaker 8 (08:39):
It's a massive data dump, but if you look at
the quarterly employment growth, takeout all the volatility, it's dead flat.
The employment market is not really going and where and
pressure coming off wages. That doesn't seem to be anything
in these numbers standing in the way of a further
twenty five basis pointcut in the OCR November.

Speaker 5 (08:56):
And I guess that's how you'd summarize.

Speaker 2 (08:57):
It and bring it on.

Speaker 8 (08:58):
What about China, Mike, which is seeming quite a bit
of really mixed commentary about China. You read one report,
it says the economy is recovering. You read another one
you say it isn't recovering. It's still our key export partner.
So that you do get these mixed signals. And we've
had evidence of this in the last couple of days.
Remember we sometimes talk about the quajun PMI, the private
sector purchasing managed indext what. It's got a new name.

(09:20):
It's now called, which is a slightly more sort of descriptive.
It's called the rating Dog PMI, and it's now traveling
in a different direction from manufacturing. So here's the conundrum.
Manufacturing PMI released a couple of days ago. It was weak,
but that's not what's evident in the services sector. The
services sector fifty two points six, it's an expansion, it's

(09:41):
been an expansion since twenty twenty three. But manufacturing is
in the doldrums. It's sitting under fifty. It's the lowest
it's been since April this year. You bring them together
and you've got the concont index which is at bang
on fifty, neither contractiony or expansiony. The vibe I think
is is that if you get further deterioration and these
sort of per my numbers, you're going to see more

(10:02):
government stimulus. So we've got to keep close signing that
and the trade numbers going forward. And you just quickly
mentioned that ADP employment numb, which is quite good. Another
data point overnight, the ism and the CISS index fifty
two point four. That was quite a quite positive good.
But inside the data, price is paid has gone up.
That throws the spotlight inflation. We've seen a big shift

(10:22):
up in the tenier bondrade overnight.

Speaker 2 (10:23):
We have significant Hey this time next week, Are you
prepared for the breakfast thing that we're doing?

Speaker 8 (10:28):
Absolutely good, it's gonna You've got to be there.

Speaker 5 (10:31):
I got to be.

Speaker 2 (10:32):
There because I said to someone yesterday it's full? Is
it not full?

Speaker 5 (10:35):
Not quite? We need a few more people.

Speaker 2 (10:38):
So do you want to give your phone number out
and we can ring you? What do you want to do?

Speaker 8 (10:43):
Well, my phone number is everywhere you know, anybody can
ring me. I get everyone ringing me. Yeah, yeah, don't
answer all the calls obviously, but yeah, next Thursday, go
online short Partners dot co doms.

Speaker 5 (10:53):
They'd sign up there.

Speaker 2 (10:55):
It's it's well worth it. I've done two of them.
I mean there's only been two, but two of them,
but I've reviewed it well every year and you've turned
up and done quite well as well. So people want
to listen to what yours?

Speaker 5 (11:07):
It's the supporting act as ever exactly?

Speaker 2 (11:09):
Well, what are the numbers?

Speaker 8 (11:10):
Forty seven thousand, two hundred and forty one on the
Dow Jones it's up point up third of a percent,
s and P five hundred up half a percent six
eight oh five the NASDAK up just under one per cent,
So bouncing back from the cell of twenty three thousand,
five hundred and sixty seven forty one hundred nine trill
per seven, up two thirds of percent.

Speaker 5 (11:26):
Nick A Volatile is.

Speaker 8 (11:28):
Down one thousand, one thousand and eighty five points fifty thousand,
two hundred and twelve. Shanghai Composite up a quarter of
cent thirty nine sixty nine. The Ossies yesterday lost twelve
points eight eight oh two on the ASEX two hundred
and then sex fifty up fifteen points thirteen thousand, six
hundred and twenty one zero point one percent.

Speaker 5 (11:47):
Ended dollar point.

Speaker 8 (11:48):
Five sixty sixty two against the US point eight sixty
nine three against the Ossie point four nine three oh
Euro zero point four three three nine pounds eighty seven
point twenty five Japanese en gold three thousand, nine hundred
and eighty six dollars in break fruit sixty three dollars
and ninety one season See tomorrow.

Speaker 2 (12:06):
Andrew kellaher Sure and Partner's Posky Mack's reasonable result same
store sales up three point six percent in the US
up two point four percent Toy eight a reasonable result too.
They said, Yes, the tariffs are hitting US in America,
but they've still bumped their forecast. They say that their models,
it'll be the RAB four and all that sort of stuff.
People are still buying them, which is good. Six to
twenty one you re a News Talks EDB.

Speaker 1 (12:32):
Good the Vi Hosking Breakfast Full Show podcast on iHeartRadio
powered by News Talks EDB.

Speaker 2 (12:40):
Gold Ai Tech job things still real, IBMSA. They're going
to lay off thousands of employees in the current quarter.
Are one percent? To give you a clue, they employ
a lot of people. Turn arou seventy thousand people, so
one percent is about three thousand. But they're going to
be laying off thousands of people in the current quarter.
Something to look forward to sex twenty five. That would

(13:00):
be you, Glenn, anyway, are we going to do it?
Or no, can't do it. We'll come back to The
Canadian budget came out yesterday. So Carney, the reason I'm
particularly the interest in this is Kearney was once the
Central Bank, Reserve Bank government of course, so you would
argue he kind of knows what he's doing and what
he came out yesterday and see you're going to swing
for the fences, and so there was a tremendous amount

(13:22):
of spending going on the areas in which he spent
were interesting, not least which was defense, because they promised
they think they were sitting about two percent of GDP
on defense, and they promise part of the NATO thing
that they're going to be going up to five percent,
which is many billions of dollars speaking. But i'll come
back to that. Speaking of central banks, we also got
and I'll talk to Nicola Willis about this after seven
o'clock this morning. She's with us on the unemployment. It's

(13:45):
too late now, mate. We haven't got them the time.
We haven't got the time. We'll come back to Nicola Willis.
After seven o'clock the Reserve Bank came out with their
forecast for the economy as far as the agriculture sector
is concerned. The non performing loans in the in the
sector are you know, people who own money more than
ninety days, et cetera. They're at multi year low, sixteen

(14:05):
year low. So in other words, you're doing well at
the moment. All those beef and milk prices, low interest
rates have worked in very nicely. Indeed, as far as
the Reserve Bank concerned, this what I want to know,
does she get anything out of this, because a lot
of people take this seriously. This is one of Christian
Hawksby's last things he's going to do. The risks were
higher than in recent years, underperformance in parts of the

(14:26):
New Zealand economy, et cetera, et cetera. So he goes
through these different categories economic conditions, trade tensions, housing market,
business tress, reinsurance, cybersecurity, and what he sees throughout all
of them is, oh yeah, housing market, oh yeah, could
be better, could be worse, business stress, could be better,
could be worse, cybersecurity and things. But Dodgy, there's nothing
specific to get your head around as far as I

(14:48):
can work out, and I just want to know what
the point of all of that is. Anyway, we'll ask
her after seven o'clock. Now the good news on fast track.
More applications are being ticked off, this time mining. We're
going to get into the business of mining right after
the news, which is next here at news Talk said be.

Speaker 1 (15:05):
Your trusted home for news, sport, entertainment, opinion, and Mike
the my asking Breakfast with the Defender embraced the impossible
newstalksad B the par the day.

Speaker 2 (15:17):
Of mourning for their worker killed in the tower collapse
the other day in Italy, so we'll get the updode
from JO among other matters shortly. Meantime back here twenty
three to seven fast break as in consenting is coming
to the economic party. It seems the Australian minus Santana
have secure to thirty year permit for the Central Otigo
gold project. So they're going to pay either tenpency of
the profits or two percent of the gold sales to
the government, which is an eight hundred million dollars deal

(15:39):
over time. Damien Spring is the chief executive of some
tournamenterals and as with us, Damian morning, Good morning the
process itself. Are you happy with it in terms of
as a country, are we getting our act together in
getting on with the business?

Speaker 5 (15:54):
Oh?

Speaker 13 (15:54):
Look, I think we're now now and our particular second
start now reached the part where we've got much more certainty.
Certainly what we had to do in order to formulate
our application is still diligent, it's still thorough and it
still pretty much sits under the existing the previous legislations
which still exist, the Resource Management Act and other related act.

(16:16):
So we're getting there, but I certainly think we can
do better.

Speaker 2 (16:21):
Good and will we once the laws are passed?

Speaker 14 (16:25):
Look, I think so.

Speaker 13 (16:26):
I think Simon Court is leading that charge and the
reforms to the Resource Management Act, and I understand there's
going to be some indication of what it might look
like the side of Christmas and with a view to
get that into law next year.

Speaker 2 (16:39):
The pushback you deal with, is mining still a thing
in this country as far as you're concerned? For some.

Speaker 13 (16:46):
Oh, Look, there's plenty of pushback, but I'm comfortable that
there's much more in terms of support. I've been mining
here continuously for twenty years. Obviously, cat And grew up here,
so mining is definitely part of our lives. We just
need to raise a profile even more. Just educate people

(17:09):
about what we do, what we produce, and how we
look after our fantastic country we've got here.

Speaker 2 (17:15):
And do people believe that? Or I mean, what I'm
trying to find out are the people who push back
these days? Are they the people are always going to
push back? Or is there a story to be told
that you haven't told quite as well as you could have.

Speaker 13 (17:27):
I think in most cases it's the sort of people
who will always push back, you know, and to be
fair and a lot of those cases, they are our
future neighbors, right, so they've got a right to understand
and get into the detail. We have obviously tried to
do that and we will continue to do that and.

Speaker 15 (17:49):
Discuss with him the deal.

Speaker 2 (17:50):
You have struck ten percent of the profits or two
percent of the gold sales? Is that the way of
the future? Is this how this thing should work?

Speaker 13 (17:58):
I love this particular royalty regime was brought in by
the government in twenty thirteen. I guess we're just one
of those lucky ones that have actually found something since
then that triggers that level of royalty regiing. So it
is law. Any other new discovery on a permit issue

(18:18):
since then will pay a similar basis.

Speaker 2 (18:21):
Of PRIORTI is it worth hunting for gold if you
haven't been given what's happened to the price of gold
of late or not? Or is it a bigger picture
thing than that.

Speaker 13 (18:28):
It's going to worth hunting for gold? The certainly our
discovery here in Central Otago has sparked a interest from
a lot of companies moving into the area, and that
was before this year, well before this year and end
the gold price, so there's definitely price and the fact
that we've made this discovery.

Speaker 2 (18:47):
What do you make of the market at the moment?
I mean, is this here for good or is this
a moment.

Speaker 13 (18:55):
I guess reading some of the literature and research notes
at around there's been definitely fundamental shift in where gold
sits in financial markets. There is definitely a flight to
safe havens such as gold, and I think we're seeing
that based on the research that's going to be here
for a while longer.

Speaker 2 (19:14):
Good stuff, Domien, Nice to talk to your Damian Spring,
who's the chief executive. It's Satana to Italy in a
moment nineteen too.

Speaker 1 (19:20):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio powered
by News.

Speaker 3 (19:26):
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Speaker 2 (19:27):
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yea Carning and Canada. Interesting deficit's going to roll out
at about ninety billion, which is a lot, and he

(20:32):
spent a lot. He spent a shed load three hundred
and fifty billion. A strategic injection of funds will attract
he claims a trillion in investment to the country. They're
spending on highways and ports, electrical grids and digital corridors
and defense and housing and all that sort of stuff.
He is cutting in certain areas. The public service is
going to get gutted. Reduction of the public service of
forty thousand jobs by the end of twenty twenty nine.

(20:55):
It's all brought about by the trade problem. That seventy
percent of what they do goes south to America and
they've got tarre of problems. So a whole bunch of
measures to lower the marginal effective tax rate from thirteen
point to thirteen point two from fifteen point six. He's
got a one point three billion to attract international researchers
to Canadian universities. That's sticking it right up the Americans.

(21:15):
So we'll see how that goes. I noticed in the
power grid department he's into nuclear reactors. Wake up New Zealand.
He's boosting defenses. I mentioned to that five percent by
twenty thirty five, so that's tens of billions of dollars
worth of investment. Are significantly cuts targets for new temporary
residents from six hundred and seventy three thousand to three
hundred and eighty five thousand. So there's that immigration play

(21:39):
that was the Trudeau era that he's trying to move
himself away from, and he's launching a loan facility. This
is sort of odd a ten billion intended to support
otherwise successful Canadian businesses. So in other words, you're doing
okay until Donald came along, and now you're not. So
they've got a sort of a program to try and
help you through that. So there was a lot going
on in Canada yesterday for Tea too.

Speaker 1 (22:01):
So my costing breakfast with Bailey's real Estate news talks,
there'd be.

Speaker 2 (22:04):
Weston's got a plan of scout has goes badly as
regards the tariffs and the Supreme Court. I'll come to
that later in the program. And Living away from seven.

Speaker 1 (22:12):
International Correspondence with ends and Eye Insurance. Peace of mind
for New Zealand business.

Speaker 10 (22:17):
Jo McKenna, greetings for you, good morning mate.

Speaker 2 (22:20):
We I've ever said business and we had a death
out of this. But I just wonder how much of
you know, when you're dealing and restoring these old structures
which are hundreds of not thousands of years old, how
much risk is going on there on any given day.

Speaker 16 (22:32):
Yeah, I mean it really makes you think, especially at
the moment because Rome has many reconstruction projects, recovery of
some of the old ruins going on financed by some
of those EU funds recovery funds.

Speaker 10 (22:45):
But this was a day of mourning for Rome.

Speaker 12 (22:47):
Today.

Speaker 16 (22:48):
Sixty six year old construction worker was killed while helping
to restore a medieval tower just near the coliseum, so
quite close to where many many tourists would have been passing,
and he was trapped and the rubble for eleven hours,
rescued and then died in hospital.

Speaker 2 (23:05):
Is this a unionized thing? Is that the sort of
debate you have? And we need safe more safety rules
and laws and rules all there.

Speaker 7 (23:11):
Yeah.

Speaker 16 (23:11):
Look, I think it's a problem because so many of
these construction sites now are not unionized.

Speaker 10 (23:17):
The workers don't have protection.

Speaker 16 (23:19):
This chap was from Romania, so many of the workers
are from other parts of Europe. And we've had seven
hundred work work related death since the beginning of this year.

Speaker 2 (23:29):
Now, the budget, there was some criticism around that it
didn't boost it. I mean, what was it supposed to
boost grow?

Speaker 16 (23:35):
Well, we've still got some toing and throwing going, so
the government hasn't signed off completely yet. But the largest
business organization, Confindustria has criticized the twenty twenty six budget
saying it won't boost growth. And they say that, of course,
employers are under more pressure because of the tariffs and
geo political.

Speaker 10 (23:54):
Tensions going on around the world.

Speaker 16 (23:56):
Having said that, I did see something positive today, saying
that the main in Italy sectors agriculture, fashion, those areas
of manufacturing look quite strong going into twenty twenty six.

Speaker 2 (24:08):
That's good. Hey, gambling, I'm fascinated in the American market, particularly.
I don't gamble. I can't understand. But do you a
You gamble a lot, but do you gamble on sport?
Is sports gambling a big thing in Italy?

Speaker 12 (24:20):
Yeah?

Speaker 10 (24:20):
I think it is.

Speaker 16 (24:21):
I was quite shocked, Mike to see some of the
figures today. The growth in the gambling industry in Italy
has outpaced Britain, Germany and France, and gaming revenues are
above twenty billion euros in twenty twenty four. And it's
an interesting issue for Maloney, the Prime Minister, because she
wants to defend the free market and family venues. But

(24:45):
the Catholic Church is looking for tighter regulations.

Speaker 2 (24:48):
Okay, then we got the firefighters, so they're aging. No
one wants to be Why don't you want to be
a firefighter? You can strip off and make a calendar,
and I mean it's you know, I.

Speaker 16 (24:57):
Think that there's the vinn stranded apparently because so many
older people in Italy, as we know it's an aging population,
are calling the firefighters in to open their doors after
they lock themselves out.

Speaker 2 (25:09):
Oh, for goodness sake, For goodness sake, Joe, nice to
catch up with you. Appreciate it very much, Joe McKenna,
who is in Italy for us this morning. Seven away
from SEVENSCO data this morning from Trade me Housing told
you it's coming to life. A number of properties listed
for sale up through the roof four year high for
October twenty nine percent increase if you want a specific number,

(25:30):
coincides also with growing demand. So we're into the market
and we've got lots to choose from. So the price
thing might be interesting, but in terms of people selling
and people wanting to buy, those are all positive numbers.
It's the summer, it's the vibe. We're feeling the confidence
their words, not mine. Buyers appear to be feeling the confidence.
So at last, the Reserve bank movement is real and

(25:51):
we've got another one to come later on this month.
Auckland up four percent year on year, thirty three percent
from September, Wellington up six percent. Cannibary, what can I
tell you five percent month on month, twenty percent year
on year, Northland and Marlborough forty nine and forty three percent.
I mean, I know it's a little bit individual and
it doesn't take much in the small market to move
the numbers a lot, but that's a lot average asking price,

(26:14):
which you know that I'm always weak on this. I mean,
what you ask for and what you get are too
completely different things in normal circumstances. But nevertheless, the national
asking price that's up six percent as well to eight
hundred and eighty three thousand, So that to my eye
is reasonably bullish, six away from seven.

Speaker 3 (26:30):
All the ins and the outs.

Speaker 1 (26:32):
It's the spiz with business favor, take your business productivity
to the next level.

Speaker 2 (26:37):
Speaking of bullet tech story, wonderful story here for you
this morning. We've got the Technology Investment Network otherwise known
as TIN TIN. It's our top two hundred tech films,
which would make it the ten two hundred, and if
you had two of them, you'd have the ten ten
two hundred. You've got to be of a certain age
to understand that joke. Revenue generated was twenty billion, which

(26:59):
is up nine point nine percent on last year. So
we'll take that all day along. Expert's at fifteen point
three to one billion, which is an increase of twelve
point four percent. So we're loving that. That, by the way,
makes the tech sector. And I've said this about a
million times. No one gives the tech sector the appreciation
and the coverage it deserves because it is right up
there now with dairy and tourism. It's third behind dairy

(27:20):
and tourism, but at fifteen point three billion in exports,
right on the heels of tourism because it's only sixteen
billion for tourism. You think about how often we talk
about tourism at sixteen billion worth of exports, Tech at
fifteen point three is right up its JACKSI sixty one
thousand employees in the sector overseas postings for New Zealand companies.
That's the really interesting that they're growing the fastest. Offshore

(27:42):
job creation is outpacing domestic growth three to one. Number
of onshore jobs. The ten two hundred staff actually fell
interestingly enough, two hundred twenty nine thousand, still a lot
of people, but it fell twelve point four percent tech
globally at this point unaffected by the US tariffs, So
you Douglas Pharmacy to cause your MAXA JESUK unaffected and

(28:03):
AFT they're doing very well. Indeed, our first year that
the couple of two ten two hundreds, first year that
two ten, two hundreds. I'm now just being silly, aren't
I have made over a couple of billion in revenue
that was zero And Fisher and Pikell Healthcare forty of
the ten two hundreds had turnedover of over one hundred

(28:23):
million dollars last year. Back in twenty fifteen it was
only nineteen. So it's gone from nineteen to forty companies
with turnover of more than one hundred million dollars. I mean,
how many good numbers do you want? For goodness sake?
Now I had a little bit of exercise. We'll talk
to Nicola Willis by the way, about the jobs in
a couple of moments, and I will ask her about
that Reserve Bank report yesterday, and we're I mean, what's
the use of these reports that just say vague stuff?

(28:46):
What do you get from that? As a finance minister? Anyway?
More importantly than that, and by the way, I will
be asking you about the bank. So Westpact this week
gave their profit announcement, which was a good profit? Can it? Now?
Just before I forget the news this morning is running
yet another one of these myopic stories that media run
based on the salary earned by the CEO of Westpac

(29:08):
in New Zealand. Now she earns a tremendous amount of money.
Why does she earn a tremendous amount of money Because
she's the CEO of a bank, so you're dealing with
multiples of billions. And then they go and it's fifty
five times the average wage and they tell you that,
so you feel bad about yourself. The relationship between a
CEO salary and the average person salary is pointless, because

(29:33):
that's why it's called the average salary and a ceo salary,
And just reminding people that they don't own a lot
of money is of no value whatsoever. There is a
reason in this life why some people earn more than others,
and there's no point in pointing it out that you know,
you should feel bad about yourself. Anyway, Where was I?
Nikola Willis on the jobs and having em got to
York from the University that I'm ropable about that. So

(29:54):
we've got David Seymour on that as well.

Speaker 1 (29:56):
For you the newsmakers and the personalities, the big names
talk to Mike the mic Hosking Breakfast with Bailey's real
Estate doing real estate differently since nineteen seventy three, news
togs had been only.

Speaker 2 (30:08):
Seven past seven. So the job numbers came in as
expected five point three percent for the September quarter. And
depending on who's writing the headline, of course, it's either
the highest in nine years or the bottom of the
cycle and better times are ahead. The Finance Minister Nikola
Willis with us.

Speaker 12 (30:20):
Good morning, Good morning Mane'll let me give you the
bright side up on this well rut up eyes store.

Speaker 2 (30:27):
It's the rearview mirror, isn't it. Really? The job adds
are up, so it is at the bottom. Are better
times coming?

Speaker 17 (30:34):
Well?

Speaker 12 (30:35):
There were two indicators in there that were positive, so
there was really strong growth in the hours work that
was up zero point nine percent for the period. So
that's positive because of course when people are working more hours,
that suggests that there's more activity going on in the
economy and they're able to get more income into their family. Also,
there's been a shift away from part time to full

(30:57):
time employment because you had the full time employer rate
up in the part time rate down a bit. So
those are two positive indicators. Of course, with unemployment figures,
they can bounce around a little bit. So I'm not
on the camp where I'm confidently saying that we've absolutely
definitely got the highest read at this point. There are

(31:17):
some economists who say it will go back down next quarter.
There are others who are being a bit more cautious,
So we'll see how it plays. What we are seeing
across the economy a lot of signs that the bottom
has been reached and that we are now very much
in recovery, growing this quarter, expect to accelerate into more
growth next quarter.

Speaker 3 (31:36):
All of that is consistent.

Speaker 2 (31:37):
Okay, does the underutilization rate worry?

Speaker 12 (31:41):
Well, it's always a sign that you don't have enough
work in the economy to satisfy the people who are
wanting work. And so we've always said this is a
very simple formula, which is you first got to keep
your inflation and your interest rates under control, which we
have lower taxes helps, and then once you've got that play,
firms will have the confidence to start investing and hiring again,

(32:04):
but we're ambitious to drive it along. It's not just
enough to do the foundation. So that's why we've been
keen to fast track these private sector developments which have
literally thousands of jobs associated with them, and we've had
four of those approved already and many of them will
be kicking off well before Christmas. That's why we're driving
along these public infrastructure projects, with seven billion dollars worth

(32:26):
of them starting before Christmas. It's also why we're keen
out there opening new markets through our exporters. You saw
the Prime Minister yesterday with the Indian Trade Minister. That's
why we're welcoming an investment from around the world, reducing
red tape for businesses. All of those things about are
about giving employers the confidence to take on new workers,

(32:46):
because at the end of the day, you don't just
deal with the government hiring spree. You actually need private,
independent businesses saying I like what's ahead, I'm confident I'm hiring.

Speaker 2 (32:55):
The related matter is the Reserve Bank report yesterday the
General I mean, do you get anything? What do they
do these reports for? I mean I could have written
it for you and probably a lot cheaper, it says nothing.
Do you Is there any value in this?

Speaker 12 (33:08):
Yes, there is, because it's the classic case of for
three or four land financial stability reports, there could be
one that says, actually, we're seeing some things that are
making us nervous. Whether that's that they're concerned about what's
going on in the housing market with a particular type
of lending, with a sector that's very stressed that could

(33:30):
pose challenges to financial stability. And when they do that
analysis and they find that out, then they've got options
to address it. So yep. It's great when it's positive
and it's generally as you'd expect, but it can be
something that can give us warnings of problems that could
occur in the future. Financial stability you take it completely
for granted until something goes wrong and then you've got

(33:51):
a GFC and you're wishing you about it earlier.

Speaker 2 (33:53):
Okay, I appreciate your time. Nicolaulis the Finance Minister with
us this morning. It's eleven minutes past seven Auckland University
this week, because it occurred to me that no one
seems to be holding them to account for this cluster.
There's their y pathatow Marta rah, course right. So they
made it compulsory, you know the story. They made it
compulsory and ideologically driven first, as it turns out, a
complete waste of time. Given the pushback was so great,

(34:15):
they've now made it voluntary. Now. The problem here was
for your domestic student they charged one thousand bucks for with
this nonsense. For the foreign student they charged five thousand,
seven hundred dollars. And it suddenly occurred to me, I thought,
I wonder if you get your money back on a
waste of time like that. Anyway, we rang them. They
said there's no refund going on. So anyway, David Seymour
is AC Party leader, Deputy Prime Minister and Associate Education
ministries with us good morning, good morning mate. Can they

(34:38):
hide behind independence? So in other words, no one can
do anything about this. They can cock it up to
the level they have and that's just life.

Speaker 11 (34:46):
Yeah.

Speaker 9 (34:46):
Unfortunately in this case it is I think ultimately having
universities that are independents, have their own counsel and chart
their own path as better in the long run, I
wouldn't want to be more dictatorial country where one organization,
the government or even one person just is this is
the way it's going to be. But clearly in this case,

(35:08):
just like a lot of other institutions that have been
completely captured and hijacked, and instead of empowering New Zealand
is to live their best life, to be capable so
that they can go out and businesses and hire people
and be hired just as Nikola was saying a moment ago,
they've gone down a rabbit hole of trying to force
a worldview on other people, in this case using their

(35:30):
own money. And I might add the only reason it's
cheaper for domestic students is that the taxpayers subsidized domestic students.

Speaker 2 (35:38):
And that's the problem. Though, So you paid for it,
we paid for it. We've all paid for it. What
about the blowback for the government of the reputational damage
you're trying to get people coming into the country, some
of them are forked out five and a half thousand
dollars for nothing.

Speaker 9 (35:50):
Well, that's that's the sadness of this whole thing. And
you know, Paramji Parma, one of O's MPs, who has
I think quite bravely led the charge, has taken a
huge amount of abuse, which in itself is part of
the problem. I think the reason this stuff happens, is
that it seems most people are fearful to speak up,
but she has, and she said they should refund it,

(36:14):
and they could actually just say, look, well, we're not
going to give you cash back, but we will give
you credit for another course that you actually choose because
you judge it to be useful to your future, not
because we've decided to hijack your future for our political purpose.

Speaker 2 (36:29):
Is there an upside in the sense that a lesson
might have been learned by other universities they've looked at
this blow up in their face and gone, we'll never
go there again. Therefore we've learned something.

Speaker 9 (36:40):
Yeah, I feel like there is a change going on.
If you've cast your mind back three or four years,
a course like this being introduced, being made compulsory would
have had full acquiescence, if not vocal support from the
governments of the day. Nobody would have been courageous enough
to stand up to it. The media have pounced on

(37:00):
anybody that did for the most part, and it just
wouldn't have changed that. It actually has changed, and I
think a lot of people will be setting up and
taking notice. It's also while true that university councils are independent,
and I ultimately believe they should be a portion of
the appointments are made by government. We actually haven't made

(37:21):
any appointments to Auckland. It's just the way the cycle goes.
But we will very soon. And that's another way that
an elected government can inject some fresh thinking and accountability
into these institutions. While they maintain the ability to make
their own decisions. We can add a flavor to that.
And you're starting to see that change. Still a lot
of frustration. There'll still be people who say, you know,

(37:43):
my council or this government department is still doing this
thing that actually doesn't make the boat go faster.

Speaker 13 (37:50):
It's more about.

Speaker 9 (37:50):
Compulsion than even in Mari culture. But nonetheless, I do
think we've got to chalk up the history curriculum that's
changed for schools last week, the fact that we are
no longer putting treaty obligations on school boards, and also
this reversal at the University of Auckland. I'm very proud

(38:11):
that we are actually driving New Zealand culture back to
an outward looking place where each person can succeed on
their own terms rather than be part of somebody else's
political projects and Cowden to fear against picking up against it.

Speaker 2 (38:25):
Exactly well, so appreciate it very much. David Seymour. I'll
tell you what as apparent in this last decade, including COVID,
the damage done to the young people of this country
is almost incalculable. And the Auckland University ideology is a
major major part of that. Fifteen past seven The.

Speaker 1 (38:42):
Mike Asking Breakfast Fall Show podcast on iHeartRadio powered by
News Talks AB.

Speaker 2 (38:48):
News Talks at the eighteen past seven. My my daughter
bailed from Auckland University this year because of that Murray
directive and willetton Tiger next year. That's a common story
that happened a lot around the country in this last
twelve months, Morning Mike, Aukland compulsory, Mary learning. That was
the problem with Knitball and New Zealand pushing the culture
onto the players, and that's why you got the pushback.
That's the story I am being told to not that

(39:09):
Knitbull and New Zealand want to talk about any of that.
Of course, Morning Mike. What's the story of Adrian or
taking a court case? Johnny's not He's threatened a court case.
Michael Riddell, who appears on this program periodically Economic Commendata
former Reserve Bank worker, said a couple of things about Adrian.
It may or may not have been litigious, may or
may not have been correct. Adrian hired a lawyer, they
fired off the obligatory letter and I think things have

(39:30):
been resolved there. Mike Stephen, Adams, at thirteen million a year,
earns one hundred and sixty two times the average salary.
That's my point. The point is jobs are worth. What
jobs are worth comparing them to other jobs. Is it's
just that myopic media obsession we're bringing people down. Speaking
of which, ironically, David Cohen, who's done this just center
a dooming book, The Untold Stories, is with us after

(39:52):
eight o'clock this morning. It's a fascinating read. I've got
to tell you. I mean, for park your view of
Aderna side. The number of people involved in the book,
the number of interviews they did were extraordinary, so you
get this massive cross section to people. Anyway, One of
the funny parts, and one of the things that most
upset me during that period was the acquiescence of the
New Zealand media to her in general and their journalistic

(40:17):
integrity if it ever existed, got completely and utterly blown up.
And they did a study on stories and the favorability
of those stories every time I do and said something,
and the just the blatant, blatant bias of the New
Zealand media makes you want to weep anyways with us

(40:38):
after eight seven twenty.

Speaker 1 (40:40):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks b.

Speaker 2 (40:48):
The Keiwi Dream, Key We Dream. Many would agree owning
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(41:10):
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Home combo asking twenty four. Now, I tell you what.
It's always a good question to ask when the headlines

(41:52):
tell you of trouble in retail, is the same broad
based problem or a specific one? So Starbucks, if you
follow in national news, Starbucks are selling their China operation
because they couldn't crack China model didn't work. Pizza Hut
in America looking at selling. Not because Americans don't eat pizza,
of course, they just don't like Pizza Hut pizza. So
why are Valentine's the last great department store in New Zealand?

(42:14):
As The Herald told me yesterday, Why are they laying
off staff because of their quote severe recession. See I
love Valentine's Everyone from Christchurch love Valentine Morning teas and
grandparents and the Christmas display in them, all the exotic
stuff other people didn't stock. That's my childhood. Smith and
Coe were Auckland's landmark disaster. Of course they blamed it
on downtown. But could it have been the product as well?

(42:34):
Could it have been the model Kirk's in the capitol
when ages ago? Could it be Wellington? That myriad of
economic woes in Wellington? Or was it the model? See
I'm in christyuch. I mean you can't. If you can't
make a go of it in christ Church boom town,
then who can? And isn't that is the crux of
the question, isn't it? Christ Church is booming? People are arriving,
But are they in Roliston and therefore not in cashual

(42:56):
Mall and in that distribution of the population. Is that
part of the answer too? Still?

Speaker 3 (43:00):
Sports?

Speaker 2 (43:00):
I noticed just this week gone Bealley up in Christy
to one at the Palms, one at Northland's what's going on?
These are the questions we need to ask, and we
need to dig a bit deeper than the one overlightly
headlines that pervade modern coverage of the econmote spending on
hospows up, but hospow according to Hospbow's struggling, how can
both be true? The answer is in the detail. I
wish Valentine's all the best. I mean, I hope if

(43:21):
it is a deep recession they come out of it.
But equally, I hope they're asking what is it they're
doing that Maybe the modern consumer isn't buying anymore? Is
their service top notch? Is it still an occasion to visit?
Is stock still surprising in its breadth and quality? For
those who say department stores are dead, I have been
to Selfridges and Harrods and Neman Marcus and burgd Off Goodman,

(43:42):
do it right, you're booming. We all ride the economic wave.
But too often the economy is too easy as an
excuse to use asking thoroughly enjoyable afternoon. Call me weird,
but I enjoyed the voting yesterday. Nothing happened to the voting.
But just by the way, if you're a peripheral view
of the American situation, it was outside the norm. D

(44:03):
gitterary guy, I mean in New Jersey. Could he have
done better. Maybe did he do not as well because
of Trump, because of the times? Probably, But in terms
of red flags for the Republicans, nothing, There was nothing
alarming there. There was nothing on the ballot that you thought, Jesu,
this better go well for Trump. As far as interesting style,
I don't know if it's true. And this is why
we got Henry Olsen on just a couple of moments.

(44:24):
Somebody was suggesting yesterday two things, two main points of discussion. One,
the Poles appeared to be wrong. Yes, the result was
as expected or results were as expected, but the Poles
seemed to misread the size of the results. Second was
in Virginia Washington. Historically speaking, when the government has closed down,

(44:45):
it's always in voter's minds the Republican's fault. Now I
didn't know that. It's not a statistic or anything. It's
just that people blame Republicans when the government has shut down,
no matter who's at fault. And that's why you got
the result in Virginia that you got yesterday. I reckon
the highlight of the day for me was Newsom's speech

(45:05):
because he laid it on big time. They had Prop
fifty in California. They got up. But if you want
to know if Newsom is running in twenty twenty eight,
look at his speech yesterday. The answer is a great,
big fat yes. Henry Olsen Polster after the News, which
is next near a news talk s head.

Speaker 1 (45:22):
Beat, credible, compelling, the breakfast show you can't bess it's
the Mic Hosking Breakfast with a Vita, Retirement, Communities, Life
Your Way, news talks, head blent.

Speaker 2 (45:36):
The Untold Stories of j Cindra DNA book is out.
He's with us up write a clock meantime at twenty
three minutes so away from Made America was voting yesterday.
It turned out pretty much as expected, given natorial races
in New Jersey and Virginia went to the Dems. New
York Gottman Army.

Speaker 18 (45:49):
Throughout this campaign, I've worked hard to be accessible and
transparent with New Yorkers. That same spirit will animate this
transition and the city Hall we built because New Yorkers
deserve a government that they can trust.

Speaker 2 (46:03):
Prop fifty gone up in California, Pennsylvania Supreme Court sum
into the five to two Democratic majority. So what's Trump
think of it all?

Speaker 3 (46:10):
The shutdown was a big factor negative of the Republicans.

Speaker 5 (46:14):
That was a big factor. And did they say that
I wasn't in the ballot it was the biggest factor.
I don't know about that, but I was honored that
they said that.

Speaker 2 (46:23):
Yeah, no, no, anyway, Pulse to Henry Els inspect, well,
this is Henry morning to you, after morning to you.
What do we read into it? I mean, the results
came in pretty much as they were expected to come in,
and so did it tell us anything?

Speaker 19 (46:37):
I think it did tell us something because while the
victors weren't surprising, the margins were that no Pole had
the Democrat winning New Jersey's governor raised by thirteen points.
The Democratic margin in Virginia was much larger than expected,
and it carried down down ballot that lots of Republican
legislatures legislators lost their seats as well. So I think

(46:59):
what it shows is that there is a wish that
Donald Trump would spend more time on domestic issues and
that they were hoping that the economy would get better
and if Trump can pay attention to that, perhaps next
year will be better for the GOP.

Speaker 2 (47:13):
Lot of chat about the polls. Were the polls a problem?
Did the polls misread it?

Speaker 19 (47:20):
I think the polls will misread it. I think that
there was a problem in the United States is trying
to figure out who's going to vote in lower turnout
elections as opposed to presidential elections, and a lot of
the problems in the polls were because they misunderstood how
many Democrats would come out devote. The fact is the
electorate was much more democratic than the polls had expected,

(47:42):
and that was a big reason why they underestimated democratic
victoric margin.

Speaker 2 (47:46):
I also heard reported saying that historically speaking, when the
government has closed down, especially in a place like Virginia,
when the government has closed down, it is always blamed
on the Republicans, rightly or wrongly. Is that true?

Speaker 19 (48:00):
It usually is blamed on the Republicans because they're viewed
as the anti government party. Polling had shown before the
last week or so that it was much less so
this time, but I think it's hard to avoid that conclusion.
One of the things that happened in the last week
before elections is people were talking about the shutdown affecting
forty two million people who get food benefits from the

(48:22):
United States. People were having their airplanes disrupted because there
weren't enough air traffic controllers to put them up in
the sky, and it meant that it was beginning to
affect real people in their real lives, not just an
abstract thing. And that always hurts the party that doesn't
like the government as much.

Speaker 2 (48:38):
What do the Democrats do about mndoni I meant Schumer
and Kiy no one loved them. Is he trouble or
is he the nonsense to the Democrats problem?

Speaker 19 (48:48):
He's probably not the answer to the Democrats problem that
the people who led the landslides and more moderate states
are more moderate Democrats. He won a very democratic city
with barely a majority of the vote. It's really a
question of how he's going to govern. If he governs
as a pragmatic left leaning politician, he'll be less of

(49:09):
a problem. If he comes out of the box and
is somebody who seems to be grabbing for more than
he ought to be getting, pushing too ideological agenda, that
could be a real problem, but real depends on what
mom Donnie does once he takes office.

Speaker 2 (49:24):
The prop thing Prop fifty in California, we've seen Texas
and things. Is just America going to rewrite itself silly?
Between now and twenty.

Speaker 19 (49:32):
Six Unfortunately a number of states will. We've got more
states that are trying to redistrict Virginia. The Democrats are
trying to do that to offset some of what's going
on in these states. So I think at least three,
maybe as many as ten more states will redraw their lines.
And it is crazy. We haven't had this happen in
well over one hundred years.

Speaker 2 (49:53):
Yeah, they said the economy played upot. I can't get
a read on the economy, Henry. I mean, I read
a lot about what they talk about the k shape.
In other ways, if you've got big jobs and big money,
you're laughing. If you haven't your own food stamps, you
got trouble. What's the state of the American economy in
people's minds, and how does that affect the abut I.

Speaker 19 (50:12):
Think for people in the lower third, they the data
show that they have still not recovered their standard of
living that they had before President Biden took office. I
think they expected a return to the fast increases in
real wages that they had in Trump. They're not getting it,
and I think they're frustrated. For the middle it's a
worrying time. You're generally secure, you're keeping ahead with inflation,

(50:34):
but you're not really gaining very much. So I think
for the economy it's not bad for most people, but
it's not good for most people either. And it's that
luke warmness when people thought Trump would be better that
is disappointing them a lot.

Speaker 2 (50:47):
If you were a Republican strategist sitting here right now
this night, member morning, would you be freaking out about
twenty six or not right now?

Speaker 19 (50:56):
A freaking out is too strong of word, but the
fact is they got slapped up side the head. The
president's job approval rating nationally is at forty four percent.
That's too low to have any chance of folding the house.
Regardless of how many lines you redraw. What you've got
to do is make some mid course adjustments. This is
like halftime at a rugby match or a football game.

(51:17):
A good coach figures out if they're team's behind, where
they have to do different, and you've gone in the
second half. Plenty of times we've seen games of two
completely different halves. Could very well be that twenty six
is different from twenty five. If it's not, they're going
to depend on democratic screw ups to help them. And
I'm not sure, it's a good idea to expect your
enemy to go.

Speaker 2 (51:35):
I watch it. I watch Kevin you some speech. Is
he good for twenty eight And if he is, does
he play well nationally?

Speaker 3 (51:43):
Wait?

Speaker 19 (51:43):
Gavin Newsom is very quickly becoming the favorite for the Democrat.
I think he is playing his party very well. But
the fact is he will have a California to defend.
The California that is high tax, high regulation, often places
high crime. And he is culturally to the left of Americans,
and stylistically he's very smooth on TV. But he's not

(52:05):
the sort of person who dresses, talks, and acts the
way a family making fifty five thousand dollars a year
in a small town does. And that's the swing voter
in a lot of these states, so to be seen.
But he's definitely the Democratic front runner.

Speaker 2 (52:18):
Now, I don't know whether you I mean, I'm sure
you're interested in doing what you view? Is this this
Scouts thing today? The Supreme Court and the tariffs, has
that got the potential to blow up in the Trump
administration's face or not?

Speaker 5 (52:29):
Well?

Speaker 19 (52:30):
I have always expected that the Supreme Court would rule
the tariffs to be an unconstitutional exercise of power to
me the questions. If they don't do that, I'll be
shocked if it would be a constitutional sea change in
the way American government works. And then the question is
how does Trump respond?

Speaker 5 (52:46):
And he could very well.

Speaker 19 (52:46):
Below the response.

Speaker 2 (52:48):
Lauran us talk to Henry. Always a pleasure. Henry Elsome
American Pulse to sixteen to two.

Speaker 1 (52:53):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (52:58):
It'd be speaking what's thirteen away from eight? I'll come
back to be since argument about what they're going to
do if they lose at the Supreme Court, which I mean,
Henry's right, they are going to lose, So how they
handle it's going to be the interesting part of it. Anyway,
as we speak, this is live Trump's in Miami.

Speaker 17 (53:12):
November fifth, twenty twenty four. The American people reclaimed our government.
We restored our sovereignty. We lost a little bit of
sovereignty last night in New York, but we'll.

Speaker 13 (53:23):
Take care of it.

Speaker 17 (53:23):
Don't worry about it. We rescued our economy, regained our liberty,
and together we saved our country. On that magnificent night
three hundred.

Speaker 2 (53:36):
And sixty five days ago. Pauline Hanson. I note was
at Marilaga the other day for the Halloween party twenty
five thousand dollars ahead. I don't think she paid twenty
five thousand dollars to be here. Gina ryan Hart was
there as well, but Gina Hinehart's always there. But Pauline
Hanson was an interesting thing. She's on the move in Australia. Anyway,
back to the business of there wasn't even interesting that speech.
He's got to get a new speech, doesn't em He

(53:57):
says the same thing every time. I mean fresh and
new material, mate. So what are the authorities that Besin's
looking at? Section two three to two of the Trade
Expansion Act of nineteen sixty two justification on the grounds
of national security. Section three zero one of the Trade
Act of nineteen seventy four regulates unfair trading practices, would
limit the president's ability under emergency grounds. So they went

(54:20):
the way they thought they could to try and get
away with it. But this is the one of all
the court cases of which there are been dozens now
and he, broadly speaking, by the time he gets to
Scotus wins. But on this I'm almost certain he's going
to lose because he's arguing an emergency and trade is
not an emergency. It's never been an emergency. And trade

(54:43):
has been going on with tariffs back and forward, up
and down, left and right pretty much since trade started
hundreds of years ago, and so on. That he's going
to fail, I think, And when he does, they're going
to have to introduce things like well best it's right
those but it'll be interesting to see where go and
what it means globally economically. The other thing I don't

(55:03):
have time for. That I will get to at some
point if you want to do a bit of reading
about It depends what they call it, private banking, shadow banking,
secondary banking, the bubble. At the moment, a lot of
people in the private sector have got into lending money,
and that's the thing. If anything's going to blow, it's
going to be that. And how it blows and when

(55:23):
it blows and how badly it blows is the key
to all of this. And this is AI, it's the market,
it's gold, it's everything that's going on at the moment.
So a lot of people have gone and borrowed a
tremendous amount of money. Now if they've cashed up a
little bit in their cash rich, they might be able
to pay back some of the debt, but some of
the people who have been doing the lending are going
to take a bath. And that's the next big story economically.

(55:45):
The FED was involved the other day to the tune
of fifty billion that they had to throw into the
pot in the because liquidity or equity became an issue
in the American banking system last week. None of this
is reported in this country, of course, but last week
in the the banking system in America, it got stuck
momentarily and they needed cash. And all of this is culminating,

(56:07):
building up into a thing that will unfold. I don't
know when. Could be days, could be weeks, could be months,
but it is going to happen. So mark mark this space.
Nine minutes away from.

Speaker 1 (56:17):
It the Mike Hosking breakfast with al Vida, Retirement Communities News,
Tom Stead be l.

Speaker 2 (56:23):
Seven away from ete sick leave. Would it surprised you
to learn averages now six point seven days per employee
per year. Couple of years ago it was just five
point five. It's costing US four point two billion dollars
a year. Catherine Richard's business New Zealand's Boston is with us.
Good morning, Good morning. So when we deal with these numbers,
are they sick or are they slack?

Speaker 11 (56:42):
It's possibly a combination. There are many drivers for absence,
non work related illness, caring for a family member. But
employers did report that some people are taking paid leave
when they're suspected for not being actually unwell. But that's
always been the case when we've had humans in the mix.

Speaker 2 (57:01):
Yeah, is it part of a malaise in this country?
If we're all in a bit of a funky you're
more likely to go. You know, I can't be bothered,
especially given it's a Monday.

Speaker 11 (57:10):
The combination there certainly has been a change in the
workplace culture, and in some cases employees are doing exactly
what they've been told to do. If you're unwell, don't
come to work and splutter it all over your colleagues.
But certainly with their rise and leave entitlements, we do
think that it's reflected in the jump in the average

(57:31):
absence of six point seven days per employee per year,
and that's a big jump since twenty twelve when it
was about four point two. That has a material impact
on the economy and of course productivity of not just
businesses but the whole economy.

Speaker 2 (57:47):
Did the five to ten days sickly by law cause
a problem.

Speaker 11 (57:52):
It's meant that in some cases the extra days are
meeting the needs of workers because particularly with an aging
population and caring for dependent family members, people have been
able to take leave for that. But it's certainly has
contributed to an increase in the average amount of leave taken.

(58:17):
But post COVID people really think about their wellness and
they're less likely to soldier on the culdurl AD. They're
more likely to think, am I going to be productive?
If not, I'm going to stay home.

Speaker 2 (58:28):
Yeah, Because here's the problem. When you look, it's four
point two billion dollars worth of damage to the economy.
That's fine, but you can't what do you do about it?
There's nothing you can do about it. Is that unless
you're going around knocking on the door and going right
prove it.

Speaker 11 (58:41):
It's very hard to measure, and so in terms of
evidence of people pulling sickies, it's always anecdotal. But it's
up to leadership in businesses. Businesses want to have a
healthy workplace. They want people to come along to work
and be satisfied and be productive. So it's a combination
also of what businesses are doing to keep people well,

(59:04):
and businesses are very innovative these days. They've got programs
from vaccinations to fitness programs, gym memberships, a whole range
of things. Working from home and additional flexibility has improved retention.
But it's a combination leadership and also reminding people that
that there is an ambition for all of us to

(59:27):
keep the economy going and make sure our business is thriven.

Speaker 2 (59:30):
The cafin appreciate it. Business New Zealand CEO. There's a
warning in Britain now, speaking of which this morning the
number of second disabled people has increased eight hundred thousand
in the last year and it's a crisis. We'll talk
to rot about this after eight thirty. Meantime, the news is.

Speaker 1 (59:44):
Next asking the questions. Others won't the mic asking breakfast.
We're the defender, embraced the impossible news togs there'd be.

Speaker 2 (59:53):
It is seven minutes past eight. Well the long way
it was on decinder the mind David Coheny is about
to be available in a lot of interviews, a lot
of insight perhaps of you that wasn't quite as tarnished
as the various efforts that have been produced. So fun anyway,
Orthodovid Cohen is willis very good morning to you.

Speaker 14 (01:00:09):
Okay, Mike, how are.

Speaker 2 (01:00:10):
You very well? As an exercise, did you enjoy it?

Speaker 4 (01:00:15):
No?

Speaker 15 (01:00:16):
I didn't. I was trepidacious. It was a difficult subject.
I'm familiar with doing cookbooks or books about music. This
is the sort of area where you one tends to
get very good notices.

Speaker 13 (01:00:36):
People like what you do.

Speaker 15 (01:00:38):
Politics is a minefield. So when I say I didn't
enjoy it, what I meant to say, obviously is that
this was more challenging.

Speaker 2 (01:00:49):
The seed of an idea came from where why tackle it?

Speaker 15 (01:00:54):
It came about fourteen years ago. That was the first
time I met, in fact, the last time I met Justinder.
We shared a stage at the Auckland War Memorial Museum
and we went back and forth. That was with my
old sparring part Russell Brown. We bickered about things here

(01:01:16):
a little to the left, me a little to the
other side, and I came away intrigued by this young politician.
She was thirty or thirty one at the time, and
so I began tracking her movements and then, of course,
about five million of followed suit in terms of writing

(01:01:41):
an actual book. Probably about two years ago. I thought
you have to The ancient Greek said, count no man
lest he be dead. Just cinder. Our journal isn't dead,
of course, but her political career in New Zealand, not internationally,
is over. So we can start to assess what went

(01:02:03):
wrong and what went right.

Speaker 2 (01:02:05):
Have you assessed in your mind, hand on heart fairly
or did you enter this project a fan or an adversary.

Speaker 15 (01:02:14):
I entered the project as someone who was Can we
use the term non binary? And I mean that politically.
I think one of the great tragedies of recent years
is that we live in an era of the politics
of emotion. You either love someone or you hate them,

(01:02:40):
and Jacinta played into that with her politics of kindness.
To some degree. I'm an old fashioned journalist. I started
out in this trade when back when dinosaurs werew in
the earth. One of our guiding ideas and junctions is

(01:03:00):
to tell the other side. So it's actually not a
matter of whether I like her or I don't.

Speaker 13 (01:03:08):
But the truth is.

Speaker 15 (01:03:11):
I could say yes to both questions and no to
both questions. Journalistically, it was important to do this.

Speaker 2 (01:03:19):
The one hundred interviews just before Wooden clarity sake, I
took part, including you. Yes, I took part. And so
what interested me is I set aside forty five minutes.
I stuck to my forty five minutes. And she was keen.
Your researcher, Rebecca Keller was keing to go longer. So
by the time you do me one hundred times over,
raud knows how much material you had. How'd you edit it?

Speaker 15 (01:03:41):
We had about four hundred thousand words with the transcripts,
so that's the Bible a number of times over, I
imagine I looked for broad themes. One of the important
things was balance. There's a very intelligent review in the

(01:04:04):
latest Listener. It's not entirely complimentary, but it's not condemnatory either,
bemoaning the absence of a number of left of center
voices in people. But God knows, we tried right, and
so what was.

Speaker 2 (01:04:23):
The problem there? They didn't want to say anything, or
they the anonymity or what was it.

Speaker 15 (01:04:31):
Some of them had works in progress, like Grant Robertson,
so there was that. There were probably a number who
were not sold on the idea of a project that
could be anything less than glittering in its estimation of
the subject. And then there were I suppose labor party comrades.

(01:04:56):
Can we still used that word who just we're a
little tremulous when it went going there. That said, it's
not as if the exercise lacks for such put before.

Speaker 2 (01:05:11):
No, indeed not. But could I also suggest part of
it might be that a lot of people woke up
a lot of people who were, to put it bluntly,
and you know my views as part of the book.
A lot of people who bluntly got sucked in at
the time have worked out the cold hard reality. So
what they might have once said, they no longer say,
and therefore don't want to deal with the embarrassment.

Speaker 17 (01:05:28):
Of it all.

Speaker 15 (01:05:30):
I suppose there could be something in that. I haven't
really thought that one through sufficiently, But yeah, it's extraordinarily
difficult for any of us to admit that we got
something so fundamentally wrong. We'd be lack an epidemiologists jumping
up today and saying, you know, all the stuff about

(01:05:51):
COVID from surfaces, we completely blew that one, didn't we.

Speaker 2 (01:05:55):
Yeah, well, maybe that's the next book. Actually. David Cohen
Moore in just a couple of moments, unauthorized biography. Just
into the untold stories. More shortly thirteen past.

Speaker 1 (01:06:05):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks at.

Speaker 2 (01:06:10):
B news Talks A sixteen minutes past eight our guest
as David Cohen, the book is there, just into the
untold stories. Well, you can explain, because you already suggested
you're the old style journalist. You're a journalist of many
years standing. Explain to me in the best way you
can what happened to the media during the adurn years,
the AI thing on stuff stories, the favorability, the coverage,

(01:06:33):
et cetera. Explain how so many people got so sucked.

Speaker 15 (01:06:37):
In I think the industry. There were honorable exceptions, but
if they were to use a cliche, it was following
the money. At that point. It was government law chess,
which I think was called for you and I probably
would disagree on that. Possibly we would agree on the

(01:07:03):
fact that a lot of that support the Journalism Fund
Public Interests Journalism Fund was predicated on signing off in
favor of an extraordinarily controversial government policy, and that the

(01:07:24):
seeds of undoing were embedded in that it did not
serve the industry, Well, it didn't serve journalism. Well, it
certainly didn't serve the consumers of journalism.

Speaker 2 (01:07:37):
Well no, And I would argue that the media, and
this is also global, not there's got anything to do
with jindrod In specifically, but I would also argue the
media has never recovered in terms of credibility in the
eyes of the public. Would that be fair?

Speaker 15 (01:07:50):
According to the Massi University Worlds of Journalism survey, the
latest one, the fall in New Zealand is more has
been more precipitous than most other comparable countries. So something
in addition to technology, social media and all the rest

(01:08:11):
of it is taking place here. I think that it
was the the the bad for the corrosive effect of
what ostensibly was a good idea, but it was terribly
administered or artfully administered, and it did our business.

Speaker 2 (01:08:31):
Note So here's here's the key, Here's here's the question.
I came to a conclusion eventually, but for a lot
of the period I would ask myself and I asked
it on here A number of times I can't work
out couldn't work out whether Adourne was naive and a
lot of this stuff was just her being elevated beyond
to capability and she was trying desperately to work out

(01:08:51):
what was going on or it was Macavelian and she
I concluded eventually it was there was She was Macavelian.
She had a plan, she was deliberate, she was overt
porpit of truth, et cetera. And that's who she is.
Is that unfair or not?

Speaker 3 (01:09:06):
Uh?

Speaker 15 (01:09:07):
That's one of the as hopefully many of your listeners
will discover when they go into the shop and buy
a copy this week. That's one of the great watt
ifs about here, isn't it? What was she carried along
on a tide? Was she simply adjacent to to to

(01:09:28):
to something or was she did she, for lack of
a better word, engineer it herself? You see. I come
more on the adjacent side of that. I think she
was someone with missionary zeal that was not entirely to
do with politics. It was to do with her formative

(01:09:49):
principles and experience. And you know, in the ethnic affairs area,
for instance, she had a very a significant Marory caucus
that certainly knew where it wanted to go. That is
an example of that that was an example of engineering

(01:10:14):
or pushing the country in a certain direction. I don't
think your heart was as entirely into that.

Speaker 2 (01:10:22):
Interesting, David. I've enjoyed reading it, and I appreciate the
time one hundred plus interviews involved in the book. Anyone
who's anyone seemingly is in there, the untold stories, just
into the untold stories. It's out now. David Pohen is
the author A twenty the.

Speaker 3 (01:10:38):
Mic asking Breakfast with the Defender.

Speaker 2 (01:10:41):
To be now, if you tried the old magnesium supplements
in the past to help with the general health, but
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(01:11:01):
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(01:11:24):
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why wouldn't you element twelve magnesium only from about Health?
Pasking Mike, do you get a mention? You missed the

(01:11:46):
part of the interview where I said I took part
as one of the interviewees. I'm one of the one
hundred and this is a very good example of it.
In the Wake I'm quoting from the book here in
the Wake of the death of a Durn's cat Paddles.
This goes back to the media. It's honestly, it is
one of the great shames that I'd like to use.
David words was very good. I was adjacent to it.

(01:12:08):
I wasn't part of it. I'd like to think in
my eulogy they might say he asked a few probing
questions when others didn't, or words to that effect. But anyway,
one of the great embarrassments has been a part of
this industry that just acquiesced in the most embarrassing way
for such a long and extended period of time. Anyway,
here's the example. And the wake of the death of

(01:12:28):
Adirn's cat Paddles Stuff eulogized the petters of beloved orange
and white creature with adorable opposing thumbs. On the day
Aderne was sworn into office, she was joined, as TV
and Z reported by two adorable young nieces after a
public address on the steps of Parliament. Shortly afterwards, as
the new cabinet settled in, Adern sentwath the New Zealand

(01:12:49):
Herald described as an adorable Christmas card to Queen Elizabeth
closer to home. In January of twenty eighteen, she announced
her pregnancy on Instagram by posting, again in the words
of The New Zealand Herald, an adorable photo showing three
fish hooks. Adorable was the word, but for some more
than others. The country's most popular broadcaster, Mike Hosking, found

(01:13:10):
the display a combination of fascinating and fantastically depressing because
the media, like many of the public, fell in love
with her. There's nothing wrong with falling in love, Hosking continues,
But when you're a journalist, you've got to put that
to one side and cover it in a fair and
balanced way. But fairness and balance just went out the window.
I've been in this business for forty three years and

(01:13:32):
I've never seen such a large collection of people who
had lost the plot completely. So, yes, I did take
part in the book, and that is one of the
quotes involved.

Speaker 20 (01:13:43):
So to pin the book not in the LoveFest? Could
the gravest don't perhaps say he opted out.

Speaker 2 (01:13:49):
He distanced himself as quickly as he possibly could from
those in the other room next to him. Good news.
I think Michelin Stars coming, or Michelin's coming to New Zealand.
If you know about the Michelin Stars and restaurants, Gordon Ramsey,
Lane du Cass all that sort of thing. They've never
been here. The mystery of how they work is a

(01:14:10):
fascinating one. You're supposed to never know who they are.
You're supposed to know they were never here. You're supposed
to know that they weren't in the room at the
time you thought they were in the room, and all
of a sudden boom, you've got yourself the Michelin Star.
And if you're really, really good, you get three Michelin
Stars if you're at great. Of course, the Star rating
is coming to New Zealand. It will be out mid
next year, focusing initially on Auckland, Wellington christ Church in Queenstown.

(01:14:32):
But of course it's very good for tourism because a
lot of people travel the world. Fourth food and Michelin
Stars there is a big part of that, so we
look forward to that. Also look forward to Rod Little,
who's with us from the UK after the News, which
is next here on the Mike Hosking.

Speaker 1 (01:14:45):
Breakfast Opinionated, Informed, und Apologetic, The mic Hosking Breakfast with
Bailey's Real Estate Doing real Estate differently since nineteen seventy three,
News togsdad.

Speaker 2 (01:14:56):
B ironic, well, ironical or a j to use an
increasingly off word used word. This morning, Morning, Mike, It's
astonishing how Americans can be so blind to elect someone
like Mindani. The US is so politically divided that they
would vote in a practicing Marxist. Well, what were we
just talking about in the last half hour, and go

(01:15:19):
back to the election of twenty twenty and who did
you vote for and the score was fifty percent? Explain
that to me. Twenty three to nine.

Speaker 1 (01:15:27):
International Correspondence with ends an Eye Insurance, Peace of mind
for New Zealand business in little Good.

Speaker 2 (01:15:33):
Morning to you.

Speaker 14 (01:15:35):
Good morning Mike. If you hear occasional explosions, I'm not
being attacked by Jahavi's. It's November the fifth and broon
finite and there are fireworks going off all over.

Speaker 2 (01:15:46):
What's what are the rules on guy fawks in your
particular part of the world in terms of private displays
versus public displays? And is there an annual angst about it?

Speaker 14 (01:15:55):
There's an annual angst about it, and there are no
restraints whatsoever really effectively. Even though I remember letting off
fireworks in our back garden when I was four or
five six years old, fewer people do that these days.
They tend to go to the very big choreographic events

(01:16:15):
which are happening all over the country today.

Speaker 2 (01:16:17):
Good stuff watching Lammy in Parliament It's like, honestly, you
can't make the stuff up. So the guy you let
him out and then you take six days to bring
anyone of that. I mean, how do you explain this?

Speaker 14 (01:16:30):
It's inexplicable, as is the follow up story, which is
that the same prisoners mis released two more villains this
week and one of them is an Algerian asylum seeker
who committed a sex crime. In this case, the exposed
himself to people were not obviously the police. So the

(01:16:56):
apologies continue. We have Lammy apologizing to the families of
Hadush who were abused by Hattush Kebatu, who was rottenly
released from Hepping from from Onceworth Prison having been arrested
in Epping. It is going to be a continual running
saw and David Lammie isn't very competent, that's beyond doubt.

(01:17:21):
But this is something which is embedded deep in the system,
you know, a failure of communication, a failure of understanding
human errors. It's as someone recently said, it's the Home
Office and it's not for purpose and.

Speaker 2 (01:17:37):
Does anything Does anybody pay a price for any of
that or not?

Speaker 14 (01:17:42):
At the moment it looks as if not. You know
that The argument is always well, you know, David Lammy
didn't do it, obviously, and his only bedy in his
position for you know, a few weeks, but you would
imagine that at some point the governor of Wansworth, the
guy who runs Wandsworth, must must be really looking to

(01:18:06):
pick up his P forty five because if this continues,
you know, it destroys all the face that there is
in the system at all.

Speaker 2 (01:18:15):
Amazing pop quiz for you before we talk about the
new land reform Scotland bill, who's the more who's closer
to communism? Wales, Ireland or Scotland.

Speaker 14 (01:18:29):
That's a very good question. That's a very good question.
They're all heading that way in much the same way
as is New York. They're all they're all, we're charging
that way. I think probably Wales because they can get
away with all this stuff while still being more directly

(01:18:49):
ruled by US. There's still Northern Ireland, of course, which
is a kind of common free zone. But but Scotland,
Scotland certainly seems to be the wokest country in Europe.
They've gone down the lifestyle leftist route, but now they're
looking for.

Speaker 2 (01:19:10):
Land reform and so how's that going to work? So
when the land comes up for sale, what are they
going to do just to impose themselves and break it
up and spread it about the place.

Speaker 14 (01:19:18):
Yeah, that's right. There's something like one thousand, two hundred
around about that figure of the landowners in Scotland who
own virtually the entire country, seventy percent of the country.
And these are massive tracts of highland, of forest, of grouse,

(01:19:38):
hunting moors and Cairn gorms and so on. And the
very leftish Alliance government in Scotland has decided that this
has got to come to an end and that the
lads will now have their estates broken up so that
when they come up for sale, the maximum number of
acres they can get rid of is something I think

(01:19:59):
it was. I think it was twenty five hundred a
because they can't have any more than that, and the
rest of it will be sold separately. It's not something
which I mean, the lad system doesn't have a great
history behind it, if we're honest, and it possibly is
right that more people should own a little bit more

(01:20:20):
of the land, but this enforced social engineering sometimes turns
out very badly in the end.

Speaker 2 (01:20:27):
Am I correct in saying they vote next to you,
don't they?

Speaker 14 (01:20:30):
Yeah? They do, Yeah, they do, Yeah, And it will
be interesting to see you as well. Given that the
Labor Party is in incredibly rapid retreat everywhere. The Scottish
National Party is despised nationally. Who are they going to
vote for because the idea has always been the Scotland

(01:20:51):
a left of center electorate.

Speaker 2 (01:20:55):
I know we've talked about this before, but there was
a report out today and the former head of John Lewis,
Charlie Mayfield, wrote it and he talks about the number.
It's just that we got the job numbers here yesterday.
That's also we're interested. He talks at the eight hundred
thousand more people out of work due to basically illness
and disability, whatever you want to call it. The economic

(01:21:16):
inactivity crisis threatens the country's prosperity. He puts it at
eighty five billion pounds a year. One in five working
age people just don't work, can't work, won't work. Who's
doing Who's fixing this?

Speaker 14 (01:21:34):
Nobody is and nobody will at the moment. I mean,
the tourist of promised too, but then they have fourteen
years to do it and didn't. Reformers is slightly handstrung
by the fact that an awful lot of the people
who it wants to get back to work out its voters.
So it's been a bit quiet about welfare reform. And

(01:21:54):
the truth is that, you know, since COVID one point
an extra one point four million people haven't gone back
to work, and they claim that they're feeling anxious and depressed. Hell,
we're all anxious and we're all depressed. Yes, you know
what it requires is someone to redefine what is meant
by mental illness.

Speaker 2 (01:22:15):
Yeah, all right, might go, well, see you next week, Roder.
Little other thing that's gone wrong for the labor government
overnight is remember the Chagos deal that was I've been
pretty sure that was the beginning of the year and
Britain were going to hand over Chagos and they had
a bit of a back and forward about it the Americans,
and we needed Trump to sign that off. Remember with Trump,
where did he go? He went to Scotland, didn't he
on the Scottish troup. He goes, yeah, I'll sign that off.

(01:22:36):
So anyway, I was a deal. It's gone to the
House of Lords and they've worked out that in the
House of Laws are going to lose the vote, so
Starmer Pault. So I don't know where the deal's gone now,
so we'll keep you posted.

Speaker 1 (01:22:47):
Eight forty five The Like Asking Breakfast Full Show podcast
on iHeartRadio powered by News Talks at be Just in Britain.

Speaker 2 (01:22:56):
They are like us, reviewing their curriculum at the moment,
they're gonna put mortgages and AI in. Apparently mortgages. I
could not be more into in terms of people understanding money,
compounding interest, all of those sort of things, and if
kids can leave school with a better understanding of how
the world works monetarily speaking, will be better off. I'm

(01:23:17):
not so sure about AI. There's so much to read
on AI at the moment, depending on what you read.
I think the general consensus I've got out of it
so far is that the investment dollar for dollar isn't
paying off. There's more money going in than there is
a return. But most people say it's not wasted, and
most people argue the return will come. Most people seem

(01:23:38):
to say it's a bubble of some sort. There will
be a material change slash improvement in the world in
our life, but some of it will eventually get burnt off.
A lot of people seem to indicate that if you
look at the markets at the moment, if you take
out tech, you take out chips, you take out AI.
The markets are actually going that well at all, you know.

(01:23:58):
In other words, when you get back to the fundament
of life, things aren't going that well at all. But
if you're in AI and in chips and tech, then
you're laughing all the way to the banks. That's broadly speaking,
and a huge number of jobs are being lost. Hundreds
of thousands of jobs globally are being lost directly as
a result of AI. Speaking of John Lewis, have you
seen their Christmas ad? Beautiful and nothing woken sight?

Speaker 8 (01:24:20):
So funny?

Speaker 2 (01:24:20):
You should say that because I wasn't going to raise
it because no one will see it, But yes, I
have seen it. I thought it was complete and utter
crap because normally John Lewis do a very good Christmas
ad and they look, can I say, they look? I
couldn't work out there's a man and a woman or
is it a man and a man? I thought initially
it was a son and a dad, but then I
thought that dad looks very young.

Speaker 20 (01:24:42):
Why do you have to be so binary about it?

Speaker 2 (01:24:43):
Well, no, because I think I read it, they said,
and it's a beautiful scene with father and son and
I thought, oh, your father and son. Then I looked
at the father and I thought he looks about three
years older than that. Then I swear to god, it
wasn't the dad. It turned into a woman, and it
could have been his girlfriend.

Speaker 20 (01:24:59):
And so one of these silver dress, black dress situations.

Speaker 2 (01:25:02):
I don't know what was going on. Anyway, I'm looking
at this thinking and cinematically it looked cheap crap as well.
So an answer to you, quick, look, you've got me
exercise here. I don't know what's going on. I've just
got the word. By the way, this is an America.
Assume it's is same here. Disn'ty have just put up
their prices premium service for Disney, screaming the old price

(01:25:23):
was seventy nine ninety nine. This America old price for
seventy nine ninety nine is just gone to one hundred
and fifty nine ninety nine, as and like it's virtually
doubled in price, just like that. That seems the weirdest
thing to me, not as weird as Kentucky. From the
Kentucky Secretary of State this morning, Michael Adams Will yesterday
tweeted out, we're getting calls about polls being closed. They

(01:25:44):
are closed because we do not have elections today. Kentucky
votes next year. You cannot vote today in Kentucky for
the mayor of New York City or the governor of Virginia.
And you wonder why America's in trouble. Nine to nine The.

Speaker 1 (01:25:56):
Make Hosking Breakfast with Bailey's Real Estate News Dogs edbe.

Speaker 2 (01:26:00):
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Or you can do it all online at resonatehealth dot
co dot nz. Hosking, Morning, Mike. My family have shopped
at Valentine's for three generations. It's nothing to do with
the recession. They're very little in store that they can't
be bought in them all apart from special occasion dresses,
all of which you need a model figure for. All
the bed linen can be brought elsewhere. On the shoe

(01:27:05):
department is the Pit's nothing special in the whole shop.
G You're a misery. Guts. I've been to Valentine's relatively recently.
You you undersell that shop. It's a fabulous shop. It's
a beautiful place. But the model in there somewhere is
the seed of the answer to the problem. Because, as
I said earlier on the program, if you can't do
well in Christy, it something's not right. Five minutes away

(01:27:25):
from nine.

Speaker 1 (01:27:26):
Trending Now with Chemist were house Keeping Kiwi's healthy all year.

Speaker 2 (01:27:30):
Round it Yet at Valentine's barber I love barber barber.
The British you know the outdoor stuff you can no
one else sells Barbara apart from Valentine's Just Love.

Speaker 3 (01:27:39):
Trending now with Chemist ware House the Real House of
Fragrancy some I.

Speaker 5 (01:27:44):
Was in there.

Speaker 2 (01:27:44):
They had a special on super dry T shirts known
more super dry T shirts than you do, so that
really worked out well for me.

Speaker 1 (01:27:52):
Trending Now with Chemist were house Keeping Kiwi's healthy all
year round.

Speaker 2 (01:27:57):
Should I get a frame around my new television? So
the tech guy is, we're getting a new television in
the lounge because the television in the country blew up
and so we're taking the television in the lounge. And
I went, oh, well, I know I'm going to get
a bigger television in the lounge. So I'm getting a
bigger television in the lounge. And he said, yesterday, do
you want to frame around it? And you can get

(01:28:19):
it like a wood frame around it?

Speaker 20 (01:28:20):
So you're getting a is it a Samsung the frame TV.

Speaker 2 (01:28:24):
Exactly what I'm getting.

Speaker 20 (01:28:25):
Yeah, yeah, Oh you're going to get a frame.

Speaker 2 (01:28:27):
I said no, because I said, there's no way in
the world the frame it's going to be faux wood.
It'll look like faux wood. It'll be cheap and tacky,
and everyone knows it's ninety five inches? Is that big?

Speaker 9 (01:28:38):
Yeah?

Speaker 2 (01:28:38):
That's pretty big, right, So it's ninety five inches. I said,
No one's going to think that's a picture. So let's
not get faux wood.

Speaker 20 (01:28:46):
You haven't experienced what it's really like. They're pretty amazing.

Speaker 2 (01:28:50):
Is the foe wood? Is that an optional extra? What
does it come free?

Speaker 20 (01:28:56):
You've got me there? It used to be an optional extra,
but I think sometimes they throw it in as I
sort of.

Speaker 2 (01:29:02):
What I might do is get them to throw it
in and if it looks as I suspect it will
cheap and tacky, I'm going to rip it.

Speaker 20 (01:29:08):
There's different options. You can get different colors.

Speaker 2 (01:29:10):
Can you get am I TV salesman? Can you get
California Sage trending?

Speaker 3 (01:29:16):
Now with Warehouse, the real House of fragrances?

Speaker 2 (01:29:20):
Time for this clean, time for any of this?

Speaker 20 (01:29:23):
I thought that was it?

Speaker 2 (01:29:24):
Oh, I could have been. Let's call it that. Let's
say that was it, just so that the people at
Chemists Warehouse listening, going, are we getting value for money? Bloody?

Speaker 4 (01:29:31):
Ok?

Speaker 2 (01:29:31):
You getting value for money? Hey? In fact, you can
pay some more for that back tomorrow Happy Days.

Speaker 1 (01:29:38):
For more from the mic Asking Breakfast, listen live to
news talks there'd be from six am week days, or
follow the podcast on iHeartRadio

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