Full Show Podcast: 19 September 2025

Episode Transcript
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Speaker 1 (00:00):
Your source of freaking news, challenging opinion and honored facts.
The Mike Hosking Breakfast with a Vita, Retirement Communities, Life
Your Way News, togs Head.

Speaker 2 (00:10):
Be welly and welcome today the state of the Place
to John Key and Nikola Willis, and look into our
wall story in China, Para Parma on the Rugby Tacaddy
to the with Richard Arnold stateside. Sam Emery is in
Australia for us this morning, pasking welcome to the day
seven past six. Well, was this the final nail in
the your coffin? I mean, can we add Hawksby and
the entire Monetary Policy Committee? After all? Easy to blame

(00:33):
a governor, but it's the committee that votes on what
to do with the cash rate. And after the famed
Q two finished, remember April, May and June, we came
to the next committee decision in July. Or's gone, Hawksby's
up and they've just witnessed the previous three months and
what do they do? Nothing? No change? They held why
because they felt things were in hand. They also said
the economy would contract zero point three percent. Yesterday came

(00:55):
the proof that it's hard when you're actually paid as
a so called expert to get it more wrong than
they have. We all felt it, we all knew it,
And true, most of us would not have been able
to put a number around it like the banks have.
But then again, most of us don't have the data
they've got access to. But what we all knew was
it was bad. It was tight, it was ugly, It
wasn't going in the right direction. But the gap between
zero point three and zero point nine is inexcusable, the

(01:19):
same way it's inexcusable to stand there in July and
tell us more stimulus wasn't needed. At some point, someone's
got to be held to account. Yes, Or is gone,
but only because he packed us sad. Yes, Quigley's gone,
but only because he got found out. No one has
actually been held to account for spectacular failure to do
the job. Why are the Military Policy Committee members still

(01:40):
in work? How many of them are there because of
their so called expertise versus being appointed for the so
called right reasons. Results count, facts matter, And here is
the issue for the government. As the poll showed us
this week, a lot of New Zealanders blame this government
for the economy, but they've been let down in no
small part by the Resis Bank and Win. The Prime

(02:00):
Minister the other week on this program fired off a
little bit of advice. All the point he had started
writing up it's whining about independence. Independence is fine, but
not of you useless.

Speaker 3 (02:13):
News of the world.

Speaker 2 (02:15):
In ninety seconds, oh, he came Anywin and before he
left he had it to check us for a week
with the Prime minister. Some described the priests or as tints.
Israel came up.

Speaker 4 (02:31):
We have to remember October seventh, one of the worst
most violent days in the history of the world, not
just there, in the history of the world. And I
got to see the tapes that I wish I didn't
see him actually, but I got to see them.

Speaker 2 (02:45):
Mandelssohn came up.

Speaker 4 (02:46):
Maybe the Prime Minister would be better speaking of that.
There was a choice that he made and I don't
know what is your answer to them?

Speaker 3 (02:53):
Well, I mean it's very straightforward.

Speaker 5 (02:55):
Some information tames to light last week which wasn't available
when he was appointed, and I made a decision about it.

Speaker 2 (03:01):
Whoops. As regards to what was actually done, if anything,
I mean, yes, there's a lot of take money. I'll
work you through that in the moment, but what about
the race.

Speaker 5 (03:07):
Didn't get any movements on Gaza, a matter that really
matters a huge amount to Kia's supporters.

Speaker 6 (03:12):
No shift on Ukraine.

Speaker 5 (03:13):
Really and over the trade issue over tariffs, no concessions either.
So you know he got a big tech deal.

Speaker 2 (03:20):
But what else the president. He's going to be back
in Washington about midday our time with the Kimmel businesses front.
And see we hit some new.

Speaker 7 (03:27):
Rows over the weekend with the Maggie gang desperately trying
to characterize this kid who murdered Charlie Kirk as anything
other than one of them, and everything they can to
score political points from it.

Speaker 2 (03:39):
Well, that was enough for some of the affiliates who
pulled the show, offered the irrationale.

Speaker 8 (03:42):
Mister Kimmel's comments about the death of mister Kirk are
offensive and insensitive at a critical time at our national
political discourse, and we do not believe they reflect the
spectrum of opinions, views or values of the local communities
in which we are located.

Speaker 2 (03:58):
And there's news of the world in ninety the Bank
of England overnight. This is probably if you want to
look at another country apart from ours, that's in real
trouble seemingly at the moment as the Bank of England.
The next meeting is in November. They were on hold overnight.
Most people thought they'd be on hold. The committee vote
was seven to two. Those two wanted to reduce the
separate benchmark bank rate by twenty five. They're looking to

(04:20):
return this is the problem. They got too much inflation.
They're looking to return it to two percent. But they're struggling,
and they talk of the gradual and careful move to
a further withdrawal of monetary policy. Restraint remains appropriate, et cetera,
et cetera. So they're bogged out. They're still growing, but
they're bogged down in a way like we are eleven
Class six.

Speaker 1 (04:39):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio pled
by News Talks b.

Speaker 2 (04:48):
The thing that did go well for Starmer overnight is
they got the first migrant out on the one in
one out there is actually one out. The first flight
carrying a cross channel small boat migrant landed in Powis overnight.
He's an Indian national. The Eritrean got to court and
he got the stay. The government's appealing that, but they
did so so far since they signed the deal in

(05:09):
July one out fourteen past.

Speaker 3 (05:15):
But open.

Speaker 2 (05:15):
I'm JMI welcome Hendrick Kellahoa, good morning.

Speaker 6 (05:18):
It's good morning, Mark.

Speaker 2 (05:19):
I don't know where you want to stray up.

Speaker 6 (05:21):
Oh the old rotten domestic product.

Speaker 9 (05:24):
Yeah, very weak number, very much unexpected because, as you said,
it was well away from the range of expectations. Twentieth
of August, Mike, the RBS said it estimated this at
minus point three percent.

Speaker 6 (05:35):
Twentieth of August.

Speaker 9 (05:36):
The worst local commentator had it at minus zero point five,
but we came in at minus zero point nine GDP
per capita.

Speaker 6 (05:44):
Do I want to go there, Mike, minus one point
one for the quarter.

Speaker 9 (05:49):
Hey, let's just put it some some context. Q one
was zero point eight. That was higher than expected. But
you've also got a sort of step back into twenty
twenty four. Have we had two quarters of minus one
percent growth and so we've slumped again. And you've just
commented on the fact that there was all this anecdotal
evidence in the quarter, and well that that anecdotal feeling
was actually very indicative of what's proven to be the case,

(06:12):
isn't it. Manufacturing was the key contributed to the decline,
although you have to admit there was broad based weakness
and as has been widely discussed over well, it's not
even twenty four hours, isn't It potentially brings the RBNZ
into play.

Speaker 6 (06:26):
At their meeting in early October two days.

Speaker 9 (06:29):
Ago, Mike, I think it was I mentioned that the
conversation had already begun about the potential for the OCI.

Speaker 6 (06:35):
Going below two and a half.

Speaker 9 (06:37):
And remember it's it's only it's only a matter of
weeks ago that three percent was going to be the
terminal rate.

Speaker 6 (06:44):
You know, you need to recall these things.

Speaker 9 (06:46):
I think you've just talked about this at length, and
this conversation that we're going below too and half very
much front and center now, because it's reasonable to surmise
that the amount of spare capacity in the economy is
going to be even greater than the Reserve Bank had assumed.
And look, it was insaid it was only a little
while ago that Governors Hawksby said the central projection is

(07:07):
that the OCO is at two and a half by
the end of the year, but it could be faster
or slower, depending on how the economic recovery evolves. And
of course this starter is dated but it drops the
starting point for that recovery. So manufacturing down three and
a half percent, just looking at that weakness and construction
part of manufacturing. But you can see the impact of

(07:29):
high energy prices. You can see businesses pulling back on production.
Meat processing was down because there was enough livestock, but
you've actually got what is a lack of general demand.
And what's really dangerous Mike here is if you know,
we're starting to see manufacturing businesses closing down, if you
lose that manufacturing capability, that actually that creates a headwind

(07:51):
for recovery because they're not there to participate.

Speaker 6 (07:54):
In the recovery.

Speaker 9 (07:56):
The other thing I would just want to point out here,
Mike is note in the numbers there's what is term
the balancing item of the minus zero point nine. The
balancing item was minus zero point four, so very significant
part of the fall that shouldn't be repeated.

Speaker 6 (08:11):
You know, Q three.

Speaker 9 (08:12):
Will bounce back, but I doubt whether it will be frothy.
I mean, even primary industry is contracted. Mike, I just
want to talk about market reaction because at New Zealand
dollar this morning, much much lower than it was, gives
our exporters a boost, but doesn't help import inflation.

Speaker 6 (08:28):
But it was a massive.

Speaker 9 (08:29):
Roller coaster for the Kiwi dollar yesterday because after the Fed,
we went up and then it absolutely created wholesale interest
rates have fallen your five years now at three point
one seven, that's the five or swap.

Speaker 6 (08:41):
That's the lowest it's been since twenty twenty two.

Speaker 9 (08:44):
And the expectations the pricing for that official cash rate,
the market's now pricing an end point of two point
three to five, so they're split between two and a
half and two and a quarter. It's very much increased
the probability of a fifty bases point cut on the
eighth of October.

Speaker 6 (08:58):
But Mike, just stepping back, it raises all sorts.

Speaker 9 (09:01):
Of questions, doesn't it, you know, as super low as
a super low interest rates structure the only way we
can actually grow because we don't have those other tailwinds
that we normally get, government spending, immigration, a hot property market,
And I just asked the question, you know, how do
we grow?

Speaker 6 (09:18):
How do we get prosperous? It raises lots of.

Speaker 2 (09:20):
Questions, it does, and it's depressing how they handled Jerome
in America.

Speaker 6 (09:25):
Yeah, look, this is really interesting.

Speaker 9 (09:26):
Also Mike Post the FMC, because you know, when we spoke,
the dollar are straight out the infancy.

Speaker 6 (09:31):
The dollar had fallen straight away, but it's rebounded.

Speaker 9 (09:34):
The US dollars now quite a bit stronger, so that's
not exactly helping in the New Zealander. The share markets
are actually higher overnight wholesale interest rates. They fell initially
things like the tenure, and now three point nine to
eight they've gone.

Speaker 6 (09:47):
Back up again.

Speaker 9 (09:48):
What the market's actually saying here is there's now a
lower chance of sort of super cuts, So the initial
reaction has actually completely reversed overnight, and market's now saying that.
And Jerome sort of kept talking about certainty, and I
think that's the market's focusing on that now.

Speaker 10 (10:03):
Yeah.

Speaker 2 (10:04):
Okay, Australia quickly four point two they were, so they
lost some jobs though this is interesting, it's tightening up.

Speaker 9 (10:09):
Yeah, we didn't have The only disappointing economic news ossie
employment numbers also is prized to the downside. Employment fell
five and a half thousand in August versus expectations or
twenty two thousand left.

Speaker 6 (10:18):
Unemployment rate now sitting.

Speaker 9 (10:19):
At four point two and a big switch here, big
decline of full time employment, big lift in part time employment.

Speaker 6 (10:26):
In part time employment, so not the number they one.

Speaker 2 (10:29):
To see either, I need your numbers.

Speaker 6 (10:31):
Yeah, so we've got at least this is positive.

Speaker 9 (10:34):
The Dow Jones is up third of a percent one
hundred and fifty three points forty six thousand, one hundred
and seventy one s and P five hundred sixty six
three nine up point six. The Nastik's up one percent
two to four to eight six. The foot to one
hundred gain twenty points overnight. That's point two percent, the
Nick over one percent gain four five to three oh three.

(10:54):
The Shanghai Composite down just over one percent. The A
six two hundred fell point eight eight three eight seven
four five and then sex fifty We fell one hundred
and eight points point eight two thirteen thousand, one hundred
and twenty one Kimi dollar point five eight eight two
point eight eight eight eight against the ossie, we've broken
down their point four nine nine o euro point four

(11:15):
three three eight against the pound eighty six point nine
eight japanesezen gold three thousand, six hundred and forty four
dollars in break fruit sixty seven dollars and twenty.

Speaker 2 (11:23):
Cents appreciate your expertise. Have a good weekend. Andrew Kellajajmo,
Well dot Co, dot m Z Tasky nuckerburgun veiled the
seven hundred ninety nine This is a US dollars the
Meta ray Band Display glasses yesterday. It's got the These
are the first consumer ready smart glasses, built in display,
small digital display that's controlled via hand gestures. You need
to wear a wristband. Wristband mum Man powered by neural technology.

(11:49):
You got your four ninety nine Oakly Meta Vanguard glasses.
They go on sale in October. You got your three
seventy nine ray Band Meta Gen two glasses. The only
upside of what I saw yesterday from Zuker Burgers. They
don't look ugly previously they have these look all right.
Six twenty one. You're a news Talk said bol.

Speaker 1 (12:12):
The Vike asking Breakfast Full Show podcast on iHeartRadio powered
by News Talk SEDB.

Speaker 2 (12:19):
I like days like today because many of the texts
will be showing more insight into the economy than the
Reserve Bank ever has Mike. The problem with the Reserve
Bank has made it's not recognizing how much of our
inflation's demand driven and how much is due to the
world market prices. The inflation in New Zealand has very
little demand driven inflation of forty years of business only,
the GFC has produced similar conditions to what we're experiencing now.
Interest rates need to be loaed by at least one

(12:41):
percent immediately. I wouldn't go one but there's certainly no
shortage of people, including people like Jared kirk Kiwibank, who've
been going fifty to fifty to fifty to fifty to fifty.
Another question is why do we need to wait until
October eighth for a downward ocr adjustment? What's wrong with today?
Very good question. Hawksby addressed this last time, which is
once again, why I urge you when they hold these

(13:03):
press conferences watch them, because the question was asked and
he had a very good answer, and that is market stability.
You've got to plan these things in advance, and you've
got to tell the world what you're doing and when
you're doing it. Because it came out of the whole
business that they take a long summer break and could
they come back in January? But his argument was yes,
they could, but you've got to tell people what's going on.

(13:24):
If Hawksby turned up today and just went there's fifty.
The market would melt down and you can't have that.

Speaker 1 (13:28):
Six twenty five trending now with him as well, Spring
Frenzy Sale.

Speaker 2 (13:34):
On now Netflix and the Diplomat back for a third
Crack dropped in twenty twenty three, went to number one
in eighty six countries, had over one hundred million hours viewed.

Speaker 11 (13:43):
What happened? President Rayburn died four minutes ago?

Speaker 12 (13:46):
Who was he talking to?

Speaker 13 (13:50):
My husband?

Speaker 3 (13:51):
What did you think you were doing?

Speaker 11 (13:52):
I thought I was warrning the commander in chief.

Speaker 6 (13:54):
He had a rogue deputy, which he did.

Speaker 8 (13:57):
A terribly flawed woman is now the president, and only
we know just how flawed. I'm not walking around in
the middle of the constitutional crisis with the resume stable
to my forehead.

Speaker 1 (14:08):
Our Prime Minister is concealing explosive information on your behalf.

Speaker 3 (14:12):
He will extract not one, but ten pounds of flesh.

Speaker 2 (14:15):
How many times do you have to watch her shove
you in front of a moving train? Are you doing
everything I can?

Speaker 14 (14:22):
But there is a limit.

Speaker 2 (14:24):
I expected more from you.

Speaker 3 (14:26):
So are we having fine?

Speaker 2 (14:28):
So you listen to that, you think, oh, it could
be quite good. Kirie Russell and rufus Sule the Stars.
I got through. I don't even know that I got
through all of season one. I found it too worthy
to be frank, But anyway, what do I know? First
episode of season three is out the sixteenth of October.
I did get through the end of the first part

(14:49):
of It's taking me all week to do it, the
first part of the Charlie Sheen thing. I worry about
the second part because it's just he's a great storyteller
and the gravity involved in his life is stomach churning,
but he tells it in a I don't know if
entertaining is the right way to do it. But there's
a whole other hour and a half still to come
on that, so I don't know whether I'll be back

(15:11):
for more. But if you haven't, haven't tried it. There's
got a bit of buzz around that at the moment.
Give it a go over the weekend. If you get time.

Speaker 1 (15:17):
News is next, The News and the Newsmakers, the Mic
Hosking Breakfast with Range Rover leading by example, News Togs
Dead be Mike.

Speaker 2 (15:28):
It's not all bad news. Try ordering a land Cruiser
and the wy Cato delivery September twenty six. Thank you Ellen, Mike.
When the next GUDP figures released from the current period
December eighteen is what you're just in time for Christmas
twenty three minutes away from seven. So are we're sick
of this yet? If it isn't the teachers, it's the
doctors and the nurses. The salary medical specialists have projected
the new one hundred and sixty million dollar offer. It

(15:50):
covers five and a half thousand senior doctors over sixteen months.
Thirteen thousand patients were expected to be affected this time around.
Sarah Doulton's the association executive director, and is with a
Sarah more, good morning, min one hundred and sixty million.
What's it by? I mean how far I'm so worn
down by this stuff? How far apart are you?

Speaker 15 (16:09):
Well?

Speaker 14 (16:09):
The offer that the revised claim that we put up
when we're in facilitator bargaining a couple of months ago,
would have priced out around three hundred million, So we're
still quite far apart, and it's very difficult for us
to drop below that point, you know that is we
initially put up a twelve percent claim and in facilitated

(16:31):
bargaining we moved so that other than the new step one,
which would be quite a big jump, maybe about seven percent,
the rest of our members would be looking at about
four four and a half percent.

Speaker 2 (16:42):
Well, it's one more than we've got until it's certainly
more than inflation. How can you claim you're going backwards
to CPI.

Speaker 14 (16:49):
Oh, our doctors have had SUBCPI pay adjustments since about
the time of COVID.

Speaker 2 (16:55):
Yeah, but you can't go back by time. I mean,
why don't you go back to nineteen seventy three and
make it so really bad.

Speaker 14 (17:01):
Well, you know, you can say we can't go back
in time, but we have watched the real value of
specialist salaries decrease at a steady rate of nonsense about
twenty twenty, and we want to restore that value. We
want to reset the platform so that ideally Health New
Zealand will move forward with us to establish a structure
for senior doctor salaries. At the moment, what they're incentivizing

(17:24):
is locan works, so become a contractor. They spent two
hundred million on contractors last year.

Speaker 2 (17:30):
Yeah. I get all of this, but now's not the
time to be doing this. We've got less than no
money in a country that was confirmed yesterday to be
yet again going backwards.

Speaker 14 (17:41):
Yeah, well, you know, no, no time is a great time.

Speaker 2 (17:46):
Well, it's not too remember, I mean we were a
rockstar economy. Maybe do it when we're a rockstar economy,
not a country that's going backwards worse than pretty much
any country in the world.

Speaker 14 (17:55):
Well, I think at the end of the day, access
to healthcare led by special matters whether or not you're
a rockstar economy. And at the rate we're going, we're
going to have a critical shortage of doctors. Doctors have choices,
It's an international market, and our closest neighbor pays significantly
more for their skills. So I think there are some
hard decisions we need to make as a country, irrespective

(18:17):
because access to healthcare isn't based on business or rock
star economy.

Speaker 2 (18:22):
I agree with you. Look, I've got some sympathy, but
I mean this, we're all off to Australia. Australia pays
more to it. That's always been the case and it
will probably always be. We're never going to be able
to compete with a twenty six million population or a
three hundred and twenty million American population. It's just it
is what it is.

Speaker 14 (18:38):
That's true, But Health New Zealand have also chosen to
suppress staffing levels. So for our.

Speaker 2 (18:45):
Members because they haven't got any money, Well.

Speaker 14 (18:48):
No I don't. It's choices, right, it's choices about how
you spend, So we'll.

Speaker 2 (18:52):
Tell me, Sarah, where would you get your money from? So,
whatever you want, where do you get that money from?
Who do you take it off? Tell me this, who
do you take it off to pay your doctors?

Speaker 14 (19:03):
Well, my view would be that we would look really
carefully at the taxation system and make sure that it's.

Speaker 2 (19:10):
We tax people more well.

Speaker 14 (19:12):
Our recent report says that the tax based health system
is actually really efficient and works well as long as
enough money goes into it. And as you know from
our recent report, the ministry have been misreporting our actual
health spend for some years and haven't been contributing comparative
data to the OECD since twenty eighteen because they don't
know how to do it.

Speaker 2 (19:32):
What do you say to the people who are missing
out next week?

Speaker 14 (19:36):
I say, we're really sorry that you're missing out next week.
But what do we say to the people who have
missed out this week and the week after that and
the week after that, because ask any of our members
and the queue of people suffering from unmet need, unable
to access healthcare is a reality every single day. It's
just health New Zealand doesn't talk about it on those days.

Speaker 2 (19:56):
All right, Sarah, appreciate your time. You have a good
week in Sarah Dolton, who's the Associate Association of Salaried
Medical Specialists. It is nineteen two seven.

Speaker 1 (20:06):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio powered
by Newstalks.

Speaker 2 (20:11):
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Good to see Hailey Gooley join the rb Mike strong
knowledge on the primary sector. Uya Rabobanks, Scaler Up and
seek a Kiwi fruit. Thank you Nathan for the inside
I was going to mention it anyway.

Speaker 6 (21:12):
Yeah.

Speaker 2 (21:12):
She is Agri division manager, was for Scaler Up between
twenty nineteen twenty twenty three, Rabobank for seventeen year senior
credit analyst in London, Dairy research director, eventually the New
Zealand general manager. So she seemed well credentialed, comes over
the backing of the board and of course and confirmed
by the Finance Minister yesterday. So boy we wish her well.

Speaker 16 (21:31):
Six forty five International correspondence with ends and eye Insurance
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Speaker 2 (21:37):
Richard, good morning, Good morning, many So what happened to
the conservative movements love of free speech?

Speaker 17 (21:44):
That is one of many, many, many questions in what
is story topping the news everywhere here except on American ABC,
the network that actually suspended the Jimmy Kimmel late night
comedy show, and surprise surprise reactions here sharply, very sharply partisan.
Trump said before leaving London.

Speaker 4 (22:01):
Jimmy Kimmel was fair because he had bad ratings more
than anything else, and he said a horrible thing about
a great gentleman known as Charlie Kirk.

Speaker 17 (22:08):
Well, no, Kimmel has not been fired as yet, he
suspended indefinitely. We'll see how that plays. And his comments
last Tuesday, your time is not about Charlie Kirk, say,
but about some Republicans exploiting the killing. Here again is
part of what kim said.

Speaker 7 (22:27):
Maggie Gang desperately trying to characterize this kid who murdered
Charlie Kirk as anything other than one of them and
do everything they can to score political points from it.

Speaker 17 (22:36):
So this was right after the assassination, when some like Trump, age,
Stephen Miller, and Steve Bannon were suggesting the country was
in a sort of war, should Kimmel have said anything
even in that environment. No, it was inappropriate to as
former Fox host Heroldo Rivera.

Speaker 18 (22:52):
Jimmy Kimmel owes the family of Charlie Kirk an apology,
and it's wrong to overthink it and make it about
government and censorship and these other issues.

Speaker 17 (23:04):
Former president of Barber's speaking out now saying this is
the mega win, embracing cancel culture, the point you were
making off the top there and the very thing they
slammed for years. He says, the Trump team is taking
it to a quote new and dangerous level. Trump denies it.
Here's a bit more of the story. The Kimmel suspension
came soon after the head of the FCC, the Federal
Communications body, Brendan Carr, said the Kimmel remarks appear to

(23:27):
be quote some of the sickest conduct possible. That is
far from a universal interpretation, said Car, though, I.

Speaker 19 (23:33):
Mean, look, we can do this the easy way or
the hard way. These companies can find ways to change conduct,
to take action frankly on Kimmel, or you know, there's
gonna be additional work for the FCC ahead.

Speaker 17 (23:46):
Two of the biggest owners of ABC affiliates, next Star
and Sincla then said they would pull the Kimmel Show,
and soon after the ABC network, facing this, said they
would suspend Kimmel. Now, Next Star is trying to put
together a six point two billion US dollar acquisition of
a group called and to do that they must have
the approval yes of the government, the FCC. This recalls
what happened when late night host Stephen Colbert on CBS

(24:08):
was sacked when the FCC approved the sale of the
network and other paramount properties to Skidance, which is controlled
by the family of the richest person in the world,
Larry Elson, pro Trump billionaire. That approval only came after
Trump was paid sixteen million dollars US for claiming that
the Sixty Minutes TV show had wrongly edited an interview

(24:29):
with Kamala Harris. Most saw that trump legal claim as
pretty weak. CBS did modifight. They agreed to put in
a Trump supporter as well to monitor for future political bias. Then,
just days ago, Larry Elson moved in on CNN and HBO,
seeking to become the biggest media magnet in the US.
Then after that came news about TikTok, the Chinese owned
app that was banned as a security risk. But Trump

(24:52):
just announcing a takeover deal which gives Americans an eighty
percent share in TikTok. Those Americans are Yes, Larry Elson, Trump, Dona,
Marc Andreesen. So if all this happens, Mike the Murdoch
family would control Fox News, the Wall Street Journal, the
New York Post, while Twitter, TikTok, CBS, CNN and more
would be owned by the Ellison family and the Washington

(25:12):
Post owned by Jeff Bezos. It would mark a considerable
consolidation of media power in support of the current US administration.

Speaker 2 (25:20):
Have a good week it make appreciate it, and do
not forget the name silver Lake. As I mentioned on
the program yesterday, as regards that TikTok investment, silver Lake
directly tied and of course with the New Zealand rugby
Union ten away from seven.

Speaker 1 (25:33):
The Mike Costing breakfast with Bailey's real estate news talks, there'd.

Speaker 2 (25:37):
Be my GDP per capita is more important metric. I agree,
since the last election, Nationals presided over four negative quarters
in the last six they have no clue how to
stimulate the economy. Chris, Is it the government's job to
stimulate the economy or is it the government's job to
provide the environment in which you can go out and
stimulate your own economy. And in that delineation line the

(26:00):
political ideology that we battle with and we'll do next year. Mike,
the problem with the RBS, the cocundon Wellington Bingo. How
many times on this program I said exactly that you
can have all the spreadsheets in the world you want
if you're stuck on number one or number two the
terrace and you never get out into the real world,
and you don't go to the cafe for your sandwiches
because of some woman around the corner with the trolleyho

(26:20):
brings them into your room with your white board and
your blue skying. And you didn't have that many good
qualifications in the first place. That's where you misread an economy.

Speaker 3 (26:28):
Mike.

Speaker 2 (26:28):
I appreciate your comment that Roger Douglas came in face
and said this to Ryan before and you've got to
have been there at the time. But anyone who was
there in eighty four saw what Douglas did, and he
blew the place up, and he blew the place up
because it needed blowing up. And the argument is short
or sharp or longer and blunter. I mean, basically, at

(26:50):
the end of the day, you could argue we're going
to get there, and we will. I mean, Q three
is going to be better. Q four might even be better. Still,
God knows, in twenty twenty six, it might all come
right and we'll all look back and go Phu'll thank
god we got through that. This is dragged on longer
than it needed to, and the numbers tell us this.
Your point in the text being that Douglas was under
FPP not MMP. Could you do the same thing. It's
a fair point. You probably can't five minutes away from seven.

Speaker 3 (27:13):
All the ins and the outs.

Speaker 1 (27:15):
It's the biz with business timer, take your business productivity
to the next level.

Speaker 2 (27:20):
Related matters, job ads, where are we at. Well, this
is the seat data for August this morning. Our hiring
activity has quote their words, not mine. Here we go
noticeably picked up. Good job ads are up a percent
for the three months. If you go to August of
last year, we had two months of drops, eight consecutive
months months of nothing. Now three months of increases. So

(27:41):
we're on the right track hopefully. And your job add
volumes up four percent. First time job ads have grind
year on year since November twenty twenty two. This is
all the green shoot stuff. This is the stuff that
people are going hang on. It's there. Applications for job
are up two percent in July, which is a new record.
So there's still some slackness and capacity, as they say
in the economy, still looking for either our job or

(28:01):
more work. The only region in the country to drop
in job adds month on months was Taranaki, and we
all know why, down two percent. Auckland on the move. Finally,
so you've got the confidence number this week. The confidence
was negative consumer confidence, the confidence overall was negative, but
Auckland is the most confident region in the country and
that I think came as a surprise to many people.

(28:23):
So Auckland on the move. After almost three years of
no growth, we've now had two months in a row
of one percent increases for jobs, so that's good. This
is where the numbers get wonky. In my humble opinion,
these are month on month numbers and there's something going
on there that will will spread itself out over time.
But a Tigo's up sixteen percent in jobs, I mean

(28:43):
that could well be a single company doing something. I
don't know. But O Tigo's sixteen, Canterbury thirteen, Wellington eleven,
So that's big growth, but just be wary of that.
In terms of applications. But job Auckland's are up twenty percent.
That once again's weird that. Oh there's annual, it's not
monthly or god for that, so that makes more sense.
So I was asking about that off here. I was

(29:03):
thinking this doesn't seem to be right. So right, so
job applications per job ad in Auckland up twenty percent annually.
Why Catto up nineteen percent annually? So the industries were
the most job ad growth are design and architecture. I
mean that's got to be good, doesn't it mean architecture
for goodness sake, that's a luxury item. Consulting in strategy,
real estate, media and advertising. Who's that happening? Government and defense?

Speaker 6 (29:30):
I don't know.

Speaker 2 (29:32):
We need an expert on the case. Sir John Key
fortunately has come back from the super yacht just in
time to offer some advice after seven o'clock on the economy.
And then, as Thomas Coglin rightly wrote in the Herald
and do read that this morning, it's a brilliant piece
of writing. Toughest day at the office for Nikola willis,
She's willis after seven point thirty.

Speaker 1 (29:51):
The only report you need to start your day, the
MI casking breakfast with Bailey's real Estate covering all your
real estate needs TOGS had.

Speaker 2 (30:00):
Been seven past seven. It's hard to hide from a
number that bad, isn't it. Zero point nine is not
zero point three or anywhere close to it. And what
we felt in April and May and June was in
fact very real. The calls were already up for the
Finance Minister to quit. Sir John Key is back with us.
Good morning, Mike. Has the government mister trick and could
have should have gone harder earlier.

Speaker 20 (30:21):
Look, there is saying that Ruth Richardson once had, which
was Montary policy needs mates, and that was her argument
when she was really tightening up the economy, that the
Reserve Bank needed that support because they were in tendem
working with the government. I think what you've seen over
the last eighteen months or so is a government that

(30:41):
has been working hard to get the economy straightened up
after frankly the mess it inherited, but it hasn't had
a mate in the Reserve Bank. And the Reserve Bank's
job very clearly over time has been to say in
straits need to come down. And I mean, look, two
months ago I got hammereds are saying in straight needs
to come down one hundred basis points.

Speaker 2 (31:01):
Well, they came.

Speaker 20 (31:02):
Down twenty five. They're going to come down another fifty.
You can put a ring around it in the next
month policy statement and they'll come down another twenty five
by Christmas. So the person that's not doing the job,
or the people that are not doing their job, are
the Reserve Bank, who, frankly, if they just walked around
Auckland and Wellington for five minutes, could have felt the
fact that the government needed help through Montro policy.

Speaker 2 (31:25):
Right, So here's our registrates, here's your next problem. So
Luxeon's on this program a couple of weeks ago and
he goes at the the way you just have all
the op ed writers in the country start going, you
can't do that. It's independent. So what does a government
do when you've gotten competence not helping you.

Speaker 3 (31:42):
Well, I mean, I guess they've done the things they
can do.

Speaker 20 (31:45):
In the end of the Reserve Bank governor has left,
the Reserve Bank chairman has left. You know, they only
can do what they're able to do, which is a
point a new governor make make it clear that they're
frustrated by that. I don't think the government is either
trying to or needs to sit around and just solely
blame the Reserve Bank. I mean the Reserve Bank plays

(32:08):
a role in this, because anyone can tell you that
in straight they have been too high, particularly when you
look at as say the Auk and Wellington economy over
the last week. While I think what the government can
do is pull the levers that are within its control
now the bigger leavers around how it spends money, being
a bit tighter with the economy, getting rid of waste,

(32:28):
fast tracking things like RMA and all those good things
that they do, which by the way, take quite a
long time to flow through.

Speaker 3 (32:34):
They're doing those.

Speaker 20 (32:36):
But the bits that they can do in the short
term to help support a lower montary policy stands they
are starting to do. I mean these business visas high
with visas, minor changes they made made to foreign buyersed
ban migration changes that sit around those visas. Some of
those things are really good stuff and again they will

(32:56):
flow through.

Speaker 2 (32:57):
So I'd sort of say to you.

Speaker 20 (32:59):
Look, there's quite a number of different things going on.
This is a very unusual period in New Zealand history
because this has been the one time that you've seen
a very significant pullback in housing in Auckland and Wellington,
So about twenty five percent in Auckland, about thirty percent
in Wellington and.

Speaker 2 (33:16):
All of that.

Speaker 20 (33:17):
Whether all these people who hate housing and don't like
in all those agments. What that's done.

Speaker 6 (33:23):
Is it's had two things.

Speaker 20 (33:25):
One that's slowed down the construction sector and you can
see those numbers yesterday.

Speaker 2 (33:29):
And the second thing is because people feel.

Speaker 20 (33:31):
Like they're going backwards in their biggest asset, it strips
them of confidence. And that's my whole point. I think
the one thing the Prime Is can and will continue
to do is try and talk about the future because
all these things are behind us. Actually what's coming in
front of us is a lot better. But we need
to get our mojo back, We need to start feeling
confidence again. It's the you know, whether a government loosens migration,

(33:55):
whether the Reserve Bank hasn't stracts a little bit lower,
they all count for a certain map of what really
counts is do we feel like we're going forward and
if as a country you we do, we'll all start
doing things again and investing in moving right.

Speaker 2 (34:09):
So to the poll this week that has a good
number of people blaming this current government for the economic
woes the politics of it. You enter next year into
an election, Douglas says, Sack Willis your prime minister. What
do you do.

Speaker 3 (34:25):
Well, don't lose your nerve.

Speaker 20 (34:27):
I mean, Nichola Willis is by far in the whole lineup,
the best person to be Minster of Finance. She worked
for me. I know Nikola very very well and she's outstanding,
so she is not blind to all of the challenges
we have. So firstly, don't lose confidence. The second thing
I'd say is don't lose confidence with the really good

(34:50):
macro things the government is doing. So yeah, if there
are some short term things that you can continue to
do to stimulate the economy, do all of those. But
my point you would be when someone asks the pulses today, look,
the economy is bad, your.

Speaker 3 (35:04):
Jobs at risk.

Speaker 20 (35:06):
Who are you going to blame? Well, by the definition
of course, you're going to blame the government of today.
Just don't forget that next year when we have the
ultimate poll called an election. It's not actually about is
the economy good or bad today, It's about choice of
who over the next three years do you want leading
the country. And frankly, given this mess was delivered to

(35:28):
us by the very same people who lead the Labor
Party today and then throwing the a very radical Maror
Party and a very radical Green Party, you tell me
why the economic cocktail that New Zealand would be operating
under would be anything other than catastrophe. So I think
when middle New Zealanders face that choice, they will continue

(35:49):
to give their support to the right block of National
New Zealand first and act well.

Speaker 2 (35:54):
I's appreciate your time, having a good week in Sir
John Keith Nichola Willison. After seven thirty to thirteen Past.

Speaker 1 (36:01):
The High Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (36:06):
At B Tim Cody after right sixteen. By the way,
Australia did their their big emissions number yesterday around Paris
and some of the ball Hell's broken, Lissa. We'll talk
to Sam Memory about that later in the program. Sixteen
past related matters to New Zealand and they're talking wood
in China at the moment. This is the Nanging Wool conference.
We've got a team set to promote our premium strong wall.
China's our biggest recipient, one hundred and seventy six million

(36:28):
dollars worth a year. Mark Patterson is the Associate Minister
for Agriculture and is in China and is with us.

Speaker 13 (36:34):
Morning Morning, Mike.

Speaker 2 (36:36):
The strong wool story. How hard a sell is it
in a place like China?

Speaker 13 (36:39):
At the moment, Well Wolves making a bit of a comeback.
It's coining momentum. Actually, we've got well sitting an eight
year high price wise and witness day, you know. Or
there was a signing up here yesterday of New Zealand,

(37:00):
three major carpet manufacturers over here signing up, so that
it's really.

Speaker 2 (37:05):
Good, it's fantastic. Is that part of the China story?
I mean, I know it's a big country, but do
you get a sense of where China is at economically?
That deal you signed is that a Is that a
bullish China? Or we just don't know.

Speaker 13 (37:19):
No, I think you know it's a bit subdued over here.
Everyone's saying, but I think this is this is different.
This is a return to natural fiber is part of
a wider trend and if we look at say Icebreak
for example, this is their store in Shanghai yesterday, twenty
five stores in China, fifty by March and one hundred

(37:40):
medium term. They saying, so it is a return to war,
which is great news for New Zealand.

Speaker 2 (37:45):
Fantastic one hundred and seventy six million dollars worth of
business for the country. What's the potential for that do
you think?

Speaker 13 (37:54):
Oh, well, I think it's going to be far higher
than that. And you know obviously that example with Icebreak,
it's a fourfold increase. But we'll get a big wall
conference up here over weekend, so we'll get a bit
of seats of that. But you know, we're confident we'll
do more than our share of doubling exports over the
next ten years.

Speaker 2 (38:14):
Good when it comes to strong wall things like carpets,
who do we compete against and how much of it's
about just sheer quality? Do you have a quality story
within the strong wall market?

Speaker 17 (38:25):
Yeah?

Speaker 13 (38:26):
New Zealand produces the premiere strong white walls in the world,
so it's very much quality story for us. We're still
the third biggest exporder in the world. Australia is the
biggest competitive but our walls are superior, so we're really
well positioned to go forward here.

Speaker 2 (38:44):
And what a farmer feel good about that? Because the
strong wall farmer has had a tough time of it.
Should I feel good about what's going on in a
return to natural fibers?

Speaker 13 (38:54):
Yeah, well, you know, the farmers will be the listing
will be saying, you know, the price is still too low,
but you know we're at an eight year high and
steadily climbing, which is a great sign. And that's that's
two parts of that. I mean, the supply has been declining,
but demand's definitely ramping up, which is what's really needed exactly.

Speaker 2 (39:15):
All right, go well, Mark Patterson, who's the Associate minist
of Agriculture. Yes, you're asking yourself. He's in China, Mike,
what time as that? Well, it's the early hours of
the morning. I will to be full declaration because he wins,
of course, the Simon Wat's Award this week for turning
up and the unusual hours. We did pre record that
earlier this morning, but it was midnight in China and
he stayed up specifically in China for us to do that.

(39:35):
So the Simon Watts Award goes to Mark Patterson for
the week. Mike, silly question, But am I correct in
understanding the economic success is simply a confidence going. It's
not a silly question at all. In fact, it's a
very very good question, and I think Key answered that
very nicely, and that is I mean, you need the fundamentals, obviously,
but you do need the confidence, and the confidence decision
is an individual one for us each to make. Morning Mike,

(39:58):
I like that you called out the doctor's union. The
strike well done. I look come between a rock and
a hard place when it comes to the medical professionals
and the teachers. We all love teachers, we all love nurses,
we all love doctors. But when you've got no money
and you're always short, I mean, tell me a time.
Just go find me a time and a date. If
you can find me a unionist anytime in the last
forty five years that I've been and broadcast, and go
find me a unist. Bring me the comment where the

(40:20):
unionist said publicly, I tell you what things are going
pretty well. I tell you what my representatives at the moment,
my doctors, my nurses, they're enjoying life, they're earning about
what they should be earning. We're not overly short of people.
At the moment, things in our sector are going pretty well.
Go find me a unionist that ever said that, and
I'll give you a thousand bucks. Seven twenty one.

Speaker 1 (40:39):
The Mike Asking Breakfast Full Show podcast on iHeartRadio, Power
My News Talk Zippy.

Speaker 6 (40:47):
Now.

Speaker 2 (40:48):
Time down to mark the week seven twenty three. By
the way, little piece of news and carent of incidents
as popular as a whole bunch of horses, some shiny
brass and a carriage ride for an old egotist from Washington.
Farmer Confidence eight in an economic world of woe, are
good to see a decent chunk of people doing well
and enjoying it. Women, sex, ladies. What's the problem the

(41:10):
consumer confidence numbers? Men are almost optimistic at the moment,
on the verge of actually being positive. That's men, that's us.
The women and the doldrums. What's going on? GDP two? Yeah,
probably what's going on? A shopping the butter? Is that sexist?
That's probably sexist? Sort of the turgid really I mean that,
I mean yes, they sort of the turgid rank icing

(41:31):
on the rotten economic cake. I mean, how does a
reserve bank. Not see a contraction of that science for
goodness sake. Eden Park's seven Yes best near as the
Weakest Reality finally arrived in suburban Auckland. I been have
a massive facility and actually use it. How novel teaches
four got'll be honest, they support penduluma, swung against you,
hashtag over played your hand. Not to mention the doctors

(41:52):
and the nurses. Jordie Bemershaik living the dream, Hamish Kurt eight,
same thing, holiday travel six alone. I mean you can't
argive you those numbers. Someone's got money and someone is
looking for the good times? Are Watties five? Oh boy,
I'll get an update on that for you. There's something
going on with China as regards the peachers anyway. The
intersection of rhetoric, Oh, I always buy local and the

(42:15):
reality what three ninety third world does them for ninety
nine cents? RAM seven, No wrong Ram, that's the better
Ram killed the ev version of the truck. Guess why?
The intersection of rhetoric and reality. Fiji Airways seven Apex Awards.

(42:37):
They won it one of the best allianes in the world. Now,
the story there is that they weren't always that they
were down in the like one hundred and five from
where they were to where they are. That is a turnaround.
Good story, Virgin speaking of Elements and Pets. Seven game
changer Shane Jones.

Speaker 3 (42:55):
Six change, it's my hardy.

Speaker 2 (42:58):
Don we already think he was the deputy? I think
we did, didn't we? Benjamin Doyle too, I was waiting
for something. Libelers there what a halfler, self aggrandizing waste
of time. I mean, the Greens really do have a
massive credibility issue when it comes to candidate police and
don't they mean that the turnover and that party's embarrassing

(43:19):
Jimmy Kimmel three Now, no, no, it's not a catween.
God's sake.

Speaker 21 (43:25):
If they be ambitious, this is the most sound effects
I've ever tried to put in today.

Speaker 2 (43:29):
I'm not working for you. We'll sack you now. If
they've stuck with being light and entertaining, isn't that the
key that Leno said the other day when he was
doing the shows, to just keep it light. I mean
all the angst in those shows these days now, the
AB's four over reaction of the week. I mean, yes
we lost, and yes we lost badly, but last week
or the week before we won brilliantly. I mean that's
elite sport, not every days your day. The Warrior seven

(43:51):
on the whole a pretty good season. I mean, yes,
we need more new, better players. But out of the
thirty one seasons I've been following, this was one of
the better seasons. And that is the week copies on
the website and as always the marking of the week
welcome gift basket is available in all superior rooms and
above at all Quest service departments these holidays. So way

(44:12):
John Posky, John Key such a clear thinker and can
talk in such a relatable way that we all understand.
Luckxsin's communications advisors should take note of a style of presentation. Michael,
you make a reasonable point, but I mean that you
don't have advisors to tell you to talk differently. It's
a gift. You either got it or you haven't. Nikola
Willis Roger wants it gone. John says no, he knows
her and she's the woman for the job, so we'll

(44:33):
talk to her in a couple of moments. Sam Emery.
As I mentioned from Australia, the employment numbers yesterday weren't
particularly flash and they did release their their whole Paris numbers,
and that's been sort of a big build up. And
on the back of that report anyway, they sort of
come somewhere in the middle. So we'll look at that
for you as well.

Speaker 1 (44:52):
New Zealand's voice of Reason is Mike the Mic asking
breakfast with Veda, Retirement, Communities, Life, your News Talk sad B.

Speaker 2 (45:01):
Twenty three to no minus zero point nine. When we
talk of the Q three bounce back, this is the problem.
Bouncing back from say zero point three is way easier
than it would be now seemingly. Is it possible that
Q three may in fact not have enough bounce to
be back in the black, and that then leads to
a recession? So what do we make of all of this?

(45:21):
Nicola Willison's, of course the finance minister, and there is well,
it's very good morning to you.

Speaker 11 (45:25):
Good morning mate.

Speaker 2 (45:26):
The reason I asked that particular question is manufacturing, for example,
the other day is still in contraction. Here we are
at the latter part of Q three. Manufacturing, one of
the things that led us down so badly in Q
two is still in contraction. Could we be heading for
a recession?

Speaker 11 (45:42):
Well, there are some very good signs. You've got electronic
card transactions values up, you've got retail spending up. You're
seeing that job adds are up the most significantly in
many years. You've got migration data starting to improve and
most significantly make over the next six months. We're looking

(46:03):
at around half of mortgages going on to lower rates,
and that means that there will be more cash flowing
into the economy. And actually that manufacturing index and that
services index they have recovered a little bit. So the
economists tell me there's every reason to believe that the
third quarter, the one we're in right now, we are growing.
And in fact, Treasury advised me that up to half

(46:25):
of the data for the quarter just being has been
affected by seasonality and measurement issues. And we know in
the first three months of this year we grew at
zero point nine percent, three times as fast as Australia did,
twice as fast as economists were forecasting. So we shouldn't
overreact to a bad quarter. We've got to keep playing

(46:46):
the full game. We've got to dig in, we've got
to do the things that we know and needed for
this economy, and that is what our government is doing.

Speaker 6 (46:53):
Right.

Speaker 2 (46:53):
I'll let you do that because you're allowed to do it,
because that's your political defense. One of the examples you
just gave was the services sector services still contracting.

Speaker 11 (47:02):
Well, the PSI has shown some improvements from where it was,
and what we are seeing is that actually in these numbers,
the amount of investment going into intangible are sets, so
software and technology and the like is actually going up.
So there are mixed signs. No one's saying that we
wanted to see negative growth in the second quarter. The
question for the government is what are the things we

(47:24):
should do to ensure that businesses are confident about investing,
about hiring people, about growing. When I talk to them,
they say, get some big fast track projects out the door. Well,
yesterday we had the first major fast track housing project,
Endorse that's going to bring hundreds of millions of dollars
and hundreds of jobs into Nelson, create hundreds of houses

(47:45):
happening because of our fast track.

Speaker 2 (47:47):
Well, Nelson's closing down. I don't know if you've seen
the food and proper chips is going and the sawmills gone,
so they'll need something that None of that's your fault.
I get it. Look, do you worry about the d
industrialization of this country. When you're looking at manufacturing, once
a manufacturer closes, that reopen.

Speaker 11 (48:01):
We are very focused on energy policy because it's clear
that countries whose energy becomes less affordable find it difficult
to support manufacturing. And there's no question that the massive
declines and gas have led to higher spiking prices and electricity. Now,
of course that's a legacy left to us by the
last guys, but we're looking at the energy system to

(48:21):
ensure that we're getting the investments and electricity generation and
future that mean that we will have affordable energy that
is essential to any economy, which is why it was
so reckless to ban the exploration of oil and gas.

Speaker 2 (48:34):
Yeah, I look at that poll this week. The one
that really interested me and you will have seen it,
is the number of people who now blame you. See,
my argument's always been you get your first term, do
whatever you like, and then you go back to the
people and get a crack for a second term. In
history tells us, broadly speaking, that's how it happens. The
number of people who now blame you surprises me, and
that's your political reality. What do you do about it?

Speaker 11 (48:56):
Well, we have just been through three very difficult months,
as the data shows. And I don't blame people who
say I want this economy fixed. That's what we're getting
on and doing. The real question is what is the
prescription that people would prefer. Would they prefer a labor
Mardy to party green scenario Where the answers I've heard
so far is let inflation go higher, spend more, borrow more,

(49:21):
tax more. And I don't think that that is a
recipe that New Zealanders will vote for.

Speaker 22 (49:25):
They're smarter than that.

Speaker 11 (49:27):
They tried that last time and it didn't lead to
a good place. It drove our economy into the ditch,
and we're doing the things needed to keep it going.

Speaker 2 (49:35):
Can I suggest to you you, mister trick yesterday or
you lost the room when you were trying to tell
us the number of countries that went backwards? The reality
is the ones we play with, China, the US, Australia, Japan,
the OECD, the EU, Europe, They're all went forward. So
you're but Donald hurt us. They didn't hurt them. So
how come wear the out well? How came wear the outlier.

Speaker 11 (49:55):
Well on that list?

Speaker 22 (49:56):
Mike?

Speaker 11 (49:56):
Actually, Germany did go backwards in this life.

Speaker 2 (49:58):
I didn't say Germany. I said the and the euro sector.
Canada is your only one that went backwards a little bit.
I mean most countries survived and survived. Okay, we are
an outlier why.

Speaker 11 (50:08):
We were in the second quarter, But equally, as I say,
in the first quarter, we had relatively high levels of
growth compared to many of those countries. And my view
on why the Trump tariff announcement, which remember happened on
the second day of the quarter, that this data relates
to my view is that it really knocked the stuffling
out of confidence. You saw that and all the confidence data.

(50:30):
Business confidence slumped, household confidence slumped, and people basically tucked
up their wallets, put their plans away in a locker.
And we saw that in terms of investment that which
reduced significantly during that period. I think there is no
question that the Trump tariff announcements had an effect on
the sentiment in New Zealand. We now have more certainty

(50:51):
and we have signs that people are feeling more confident
about investing and spending now and into the future.

Speaker 2 (50:57):
I know you're probably not going to answer this the
way it shall be answered, but the Reserve Bank, I mean,
at the end of the day. When Luxem came on
this program and had to crack at them a couple
of weeks ago, everyone got angsty about it and their independence.
You can't hide from the fact that their level of
incompetence is bordering on being criminal, and you're wearing the
political cost of that, aren't you. Well.

Speaker 11 (51:18):
I'm allowed to state of fact, which is that the
Reserve Bank completely underestimated the decline that happened in the
second quarter and that was the point where they decided
to hold rates. I'm also allowed to say that, thank goodness,
they made a pivot in August to focus on the
downside risks to growth and indicated a lower interest rate track.
I'm also allowed to say they have the next opportunity

(51:40):
on the eighth of October, and certainly the market is
pricing in a lower interest rate track, so it will
be up to them to make their own decisions independently.
But I will very shortly be announcing a new governor
for the Reserve Bank. Obviously we've had a chair chair
change at the Reserve Bank. We are refreshing that institute
tution and I think that that is very good.

Speaker 2 (52:02):
Indeed, do you know who the new governor. Is I
do right? So when's the announcement coming?

Speaker 3 (52:08):
Very shortly?

Speaker 2 (52:08):
Okay, So my point being this, you don't want to
end up like Trump and just you know, Barrage pale
with endless abuse. But just explain to Megain your view
as finance minister. How is it an I know economic
genius and I could see it if I can see
what was happening in Q two and they can't. Why
are they employed?

Speaker 11 (52:27):
Well, the Reserve Bank is always balancing their responsibility to
keep inflation within the target band over the medium term
and they need to have stable economic outpush. How they
weigh that balance even varies around their own table. You've
seen split votes around the Reserve Bank decisions in recent times,
and I think they will all be looking back, reflecting

(52:48):
on their decisions and thinking about how they might check
and adjust.

Speaker 6 (52:52):
For the future.

Speaker 2 (52:52):
Well, it doesn't help us, does it?

Speaker 19 (52:55):
Well?

Speaker 11 (52:55):
I think it will help us because what we have
seen is that they're now committed to a low interest
rate track, which is helpful because I think when you
think about your average key we they're saying, well, actually,
I need to have confidence that I can pay my mortgage,
maybe that I can buy a bigger house in future
that I can buy a house at all. And the
biggest tailwind for that is lower interest rates, and we

(53:16):
know that they are what has spurred previous recoveries. That's
actually good economics. Our government has done everything we can
to create the space for the Reserve Bank to do this,
and they just have to keep doing that job.

Speaker 2 (53:27):
When Douglas says what he says yesterday, I just do
wonder now whether you guys missed a bit of a
trick what he did to this country. It was short
and it was sharp, and you guys, this time around,
it hasn't been sharp enough. And therefore it hasn't been short.
It's been long and it carries on and that's a problem.

Speaker 3 (53:46):
Well.

Speaker 11 (53:47):
Views will differ on Roger Douglas. There are many who
would say that he created quite a lot of chaos
in the economy, and of course it was Ruth Richardson
after him that did significant spending reductions. But for our part,
we've chosen a balanced course of consolidating the books over
a few years, which has been endorsed by international economists,

(54:07):
by ratings agencies who say that our fiscal plan is
a good one. We've delivered significant savings while investing in
more infrastructure in health services and education services. I completely
stand by that approach, and Roger Douglas may want me
to slash spending overnight. That would be the wrong thing
to do in terms of the commitment we've made to voters,

(54:29):
but actually it would be the wrong thing economically, So
I won't be taking his advice.

Speaker 2 (54:33):
Appreciate your time and have a good week here. Nicola
willis the Finance Minister fourteen two The.

Speaker 1 (54:38):
Ke Asking Breakfast Full Show podcast on iHeartRadio powered by
News Talks.

Speaker 19 (54:43):
At be.

Speaker 2 (54:46):
Mica. I. Since Nicola is not a mortgage holder, the
reserve bank adjustments have been painfully slow, while at the
same time, it would be good to know how much
the downward adjustments have been passed on to consumers. While
we do know that, and the problem with the line
about fifty percent of mortgages is due to come on,
I mean that's an ongoing thing. That's one of the
things we've learned out of COVID. Mortgages are living, breathing things.

(55:06):
When your mortgage comes up for renew or you are
sorted out and then somebody else's comes up, it's an
ongoing cyclical thing. The problem has been, as we're well aware,
is when you get the extra money from the lower rates,
the next thing that arrives in the mail is the
insurance bill, followed by the rates bill, followed by the
power bill, and that's your reduction gone, Mike. To get
the confidence back, government needs to invest in small business.
There are no tax incentives to encourage businesses to grow. Merry,

(55:28):
you're wrong, You're one hundred percent wrong. The invest boost
is announced, and if you're a small business and you
want to go buy something, the invest boost is for you.
It is working, I am told the IID numbers it's
early stages. You need a full tax year for it
to work. But the early numbers, I am told are
somewhat encouraging. Polling this week I've referred to it a
couple of times and a couple of really interesting aspects

(55:50):
of the polling this week by Radio in New Zealand.
The business of a capital gains tax is not remotely convincing.
Forty two percent support capital gains tax, thirty five percent
oppose it. But when you take the don't nose, and
there's a lot of them, twenty two percent you take
the oppose and the don't nose. That's by far the majority,
because of course many of the don't knows when they're
faced with the reality as opposed to a theoretical question,

(56:11):
will go not for me. And that's why labour in
twenty is it twenty eleven, twenty fourteen, twenty seventeen, each
time they give it a crack and guess what each
time they drop it. The really funny one part of
the polling with seventy five percent of people support a
rates cap, and you've got to say that's probably real
theory versus reality. I mean, do we want the councils
to stop charging us more? Yes, of course we do.
There's your seventy five percent?

Speaker 3 (56:32):
Is that real?

Speaker 2 (56:33):
Probably not?

Speaker 1 (56:34):
Nine to eight The Mike Hosking breakfast with a Vita
Retirement Communities News, Togstad.

Speaker 2 (56:40):
Bessy from a Women's World Rugby Cup business end, as
they say, to use an old cliche, semi final time
with the Canadians tomorrow morning. Doctor Pharah Palmer as the
former All Blackbern's captain and is with us, good morning,
good morning. What have you made of the comp There
seems to be a gap globally speaking, between the good
teams and the not so good teams.

Speaker 12 (56:58):
Yeah, and I think, you know, if I look at
the scores that we used to put up against other
teams back when I was playing in the nineteen nineties,
things have definitely improved in the gaps closing. I think
we used to beat teams like we beat Canada back
in nineteen ninety six eighty eight three, So we're not
kind of having those kind of scores at that level.
But yeah, there are still some gaps, and I can

(57:19):
see everyone's improving. You know, I was super impressed with
South Africa and I think they're, know, in a couple
in another four or five years, they'll be really really dangerous.

Speaker 2 (57:28):
So the tide, the tide is rising.

Speaker 12 (57:31):
It is rising. That's my perception, just looking at the
school level, looking at the level of resourcing that's going
into the coaching side of things as well. So yeah,
I think it's going to take some time for everyone
to get up to a higher level, but everyone's improving.

Speaker 2 (57:44):
And your impression of our team since you played.

Speaker 12 (57:49):
Oh look, you know, I hate kind of doing that comparison.
We were kind of like doing things with very little resourcing.
We had people that came from other sports. Now these
are women who played rugby for a long period of time.
I think their school they've always higher. I think their kicking,
kind of tactical game is much more efficient. So yeah,

(58:09):
there's things that they're doing that we would never have
done our day. But we had some amazing players in
our day, and if they were playing now, they probably
would make the team.

Speaker 2 (58:16):
So it looks like we'll play England in the final
with England to win. I mean, obviously we don't want
that to happen, but that's what most people say. Is
that how you see it? And what's if that's the case,
what's happened to England? Why are they so good now?

Speaker 12 (58:30):
Well, this is the best case scenario. But I would
say that the team and people have been in the
black Jersey would say, let's just focus on the next game.
So I would not take Canada lightly at all. And
then and then, of course England have always been the
one the rivals that we've kind of focused on. I
just think they've got a well rounded game. They used

(58:51):
to be just about all their forward pack, but now
they've got some amazing backs as well, and same with Canada.
Canada has improved so much. You know, the last time
we've taken was a tour before that was a lass,
So we've really got to look at Canada first, and
not even closest on the next game.

Speaker 2 (59:08):
Go well, Farah Palmer, former Blackburn's captain. Of course, I
haven't got to the pictures yet. Twist in the Peaches
story this week that we became fascinated with, or maybe
it's just me being fascinated, you being bored witless. Anyway,
more shortly, news in a moment.

Speaker 3 (59:23):
The Mike Cask game.

Speaker 1 (59:24):
We've been faithful, engaging and vital the my Casking breakfast
with Range Rover leading by example.

Speaker 2 (59:32):
News tog sad bless funny thing under normal circumstances. I
couldn't tell you much about twenty one Pilots other than
I'd sort of know the name twenty one Pilots and
they've been around a while. The album new album called

(59:54):
Breach the Signs in the twenty four album last year's
album Clancy, it was allegedly final chapter and the story
duo decided to one one more chapter, which is this
thus indicating maybe things are coming to a close. Anyway,
The interesting thing I was looking up in twenty one
pilots this week, and they're on tour. Literally, they're come

(01:00:15):
from South America and the North America. They're charging on
average three hundred and seventy sixty years dollars a ticket,
so they're still serious players because you don't ye know,
and they're in stadiums in You don't charge three hundred
and seventy six dollars a ticket if you're not that good.
I also can tell you that twenty one Pilots have
been in South America and on tour with Bahlou Bridega,

(01:00:37):
which is a band I hadn't heard of before, and
they are New Zealanders. And playing piano for Bradega was
half of Finn I'm joining dots to your left, right
and center and half of finns with us on the
program next Poet, So he's been and they were playing

(01:00:57):
sixty six seventy thousand and people at night, and twenty
one pilots, apparently in South America are the biggest thing going.
So the only other thing I can tell you now
is this thirteen tracks and forty seven, seven forty seven
minutes and sixteen six.

Speaker 1 (01:01:13):
The Week in Review with two degrees fighting for fear
for Kiwi business.

Speaker 2 (01:01:18):
Sim Wilson's Weather's Timmathy, good morning, Good morning, Michael. Now
Catherine Hawks Be good morning to you.

Speaker 10 (01:01:24):
Good morning.

Speaker 4 (01:01:25):
Now.

Speaker 2 (01:01:25):
I'm very excited about this, Catherine, you're real you're ready
to go, because what we're going to do now is
we're going to do a pop not a quiz. We're
going to do a part not we're going to do
a pop quak. We're going to do a pop quiz. Hey,
We're going to do a pop quiz for.

Speaker 3 (01:01:40):
You like they sound like your three year old.

Speaker 2 (01:01:45):
And he is so lame, and you'll and you'll hear
this in a minute, tim This is the beautiful thing
about this. What we're going to do, Kate, is a
pop quiz on things that have happened on this program
this morning.

Speaker 22 (01:01:56):
Well that's not fair because I have missed large chunks of.

Speaker 2 (01:01:58):
It exactly exactly exactly I knew that. So Timothy, Timothy,
go on up up at five point thirty this morning,
Miss hawksby five point thirty this morning standards start to
the day, first appointment seven to fifteen. Can you not.

Speaker 22 (01:02:15):
Disclose my whole personal life on air? What are you doing?

Speaker 2 (01:02:19):
I'm just no, I'm just saying, I'm just just painting
a picture of how busy you in privacy. No, it's
not invasion. It's having an appointment at seven fifteen in
the morning is an invasion of privacy. Nick, The people
are coming soon with the world moving, the world moving,
are coming very shortly, or in fact, are they there?

Speaker 3 (01:02:36):
Are you moving?

Speaker 22 (01:02:37):
What a lot of information that is not seven fifteen?
Was a zoom out of someone with someone who's in Europe.

Speaker 2 (01:02:43):
So that's why you just made that exotic? How exoustic
is that a seven fifteen Zoom't move?

Speaker 3 (01:02:50):
Are you moving? Don't move? Don't do it. We just
did it this year, did you.

Speaker 22 (01:02:55):
Yeah, it's it's gruesome, isn't it.

Speaker 15 (01:02:56):
No?

Speaker 23 (01:02:57):
Seriously, if you look, here's here's how you move happily
and you retain family harmony. You take all of the
stuff in your house, you put it in the front yard,
You go down to the gas station, you buy a
gallon of petrol, you buy box and matches, You burn it,
and then you go somewhere else.

Speaker 2 (01:03:11):
Don't you want to leave it on the footpath for
people to take? In my experience, you if you leave
half decent stuff, and sometimes not even half decent stuff
on the foot path.

Speaker 3 (01:03:19):
Or even half decent, and it will be done by the.

Speaker 2 (01:03:20):
Next It's incredible.

Speaker 3 (01:03:21):
Don't you worry about that?

Speaker 2 (01:03:23):
So the point being, I'm just just painting the picture
for your tim Catherine may Or may not be available
to us emotionally this morning because she's had a very,
very big, busy morning.

Speaker 22 (01:03:32):
You know, I'm bringing my A game because I'm a
professional and I have put aside this this eight till
eight twenty two slot for you where I will be
bringing my A game. Ask me anything, and if I
don't know, I'll make it up.

Speaker 2 (01:03:43):
What what's twenty three?

Speaker 22 (01:03:46):
Will you take us off here so that you can
know that you've.

Speaker 2 (01:03:49):
Got another appointment. Haven't you got another appointment?

Speaker 22 (01:03:52):
It's not your business. Your business is between eight and
eight twenty two.

Speaker 1 (01:03:56):
Here.

Speaker 22 (01:03:56):
I am here, so make the.

Speaker 16 (01:03:58):
Most of it.

Speaker 3 (01:03:59):
Where are you at two three?

Speaker 2 (01:04:00):
Mike Well, kem mile t yeh. I'll be refilling my
lemon water and ready to come back with something scintillating
post the airbreak. By the way, here's here's your opening question, Cadie.
Proper crisps which we have had in the house. Correct? Yes,
Now here's the story. They're closing this. I didn't know
the history of this, but proper crisps were invented. And

(01:04:23):
guess when Tell me when what year was proper crisps invented?
And in what New Zealand town. Oh, no idea, I'm
going to try Nelson well done, well on Nelson's good
very okay, Nelson's good nineteen ninety three wrong, So two
thousand and seven in nelson term very good. And that

(01:04:44):
was of course by Stuart and Catherine who were immigrants
at the time, and they I don't know if they
had a Golden visa, but they came to the country
and they opened proper Crisps. Now, they were bought in
twenty eleven by Mina Wilkie Smith and ned but then Griffin's,
Nasty Old Griffin came along in twenty seventeen and they
bought a fifty percent steak and then of course by

(01:05:06):
twenty twenty three they got the lot. Now, what's what's
catherine question? Next question, what's happening to proper Crisps?

Speaker 22 (01:05:14):
They've gone down the drain since Griffin's brought them. I
don't know, They've.

Speaker 23 (01:05:17):
Gone gang No, no, really, which that's not bad, Mike,
I mean they're closing down the Nelson operation. But she
said they've gone down the drain since Griffin's brought them.
And do you think that's true?

Speaker 2 (01:05:30):
Well, we've had proper crisps, We've had proper crisps in
our house. We like them, don't we?

Speaker 22 (01:05:35):
I don't know. I don't. I don't really like ships.

Speaker 3 (01:05:41):
Did I tell you? Can we talk about what nots?
Cheap out on?

Speaker 23 (01:05:45):
No?

Speaker 2 (01:05:45):
Because expensive?

Speaker 3 (01:05:48):
I get to your point, Get your point.

Speaker 2 (01:05:49):
My main point is this. If you close down your
factory of proper crisps in Nelson, and you moved the
production of proper crisps to your major facility in Auckland
where all your chips are made, clue where all your
chips are made. Are they still proper crisps or are
they just coming out of a big batch of ordinary

(01:06:11):
regular crisps and there's no difference to them?

Speaker 22 (01:06:16):
Is that the sort of pressing radio that I've missed
this morning?

Speaker 6 (01:06:24):
I love it?

Speaker 22 (01:06:25):
It was not I haven't missed it.

Speaker 2 (01:06:28):
What should you not skip on? Actually I've got to
go to a break sorry more In a moment fourteen
past the.

Speaker 1 (01:06:34):
Mic Asking Breakfast Full Show podcast on iHeartRadio, car it
by News Talks.

Speaker 2 (01:06:39):
It be News Talks seventeen past eight.

Speaker 1 (01:06:42):
The Weekend Review with two degrees, bringing smart business solutions
to the table.

Speaker 2 (01:06:47):
School holidays, Tim, yep, you're away. Are you at the
airport now?

Speaker 3 (01:06:52):
No? No, no, no, we did. We did the school holidays.
Actually actually oo can you say hello to everyone?

Speaker 15 (01:07:00):
Say hello?

Speaker 17 (01:07:00):
Ray?

Speaker 23 (01:07:01):
There we go Outos just said Olas just got out
of bed. We did the school we did the skill.
We did the school holidays when we did the crows.
But we are we are going up the pinnacles on
Monday and Tuesday.

Speaker 3 (01:07:14):
So seven hundred and fifty nine meters above sea level.
That's what we're up to.

Speaker 23 (01:07:17):
And one go at pace yep, one go up to
the top, sleep the night, come down.

Speaker 2 (01:07:22):
You're going to sleep at the top in what? Yeah,
of course a tent.

Speaker 3 (01:07:26):
There's a hut. There's a hut there.

Speaker 2 (01:07:28):
Have you ever done it before?

Speaker 3 (01:07:29):
Doc?

Speaker 6 (01:07:29):
Hut?

Speaker 3 (01:07:30):
Yeah? Did it last year?

Speaker 2 (01:07:31):
What do you pay for it?

Speaker 3 (01:07:32):
Don't you remember? Don't you listen to the show? No,
we were talking about it.

Speaker 2 (01:07:35):
Were you were you at the pinnacles at the time,
sleeping in your hut?

Speaker 3 (01:07:40):
It was in October last year.

Speaker 23 (01:07:42):
I was I No, I was out of you, not
during the not in the school holidays.

Speaker 3 (01:07:48):
It's funny.

Speaker 22 (01:07:49):
Quickly, I was just saying to Tim off Ear, It's
funny how quickly you get out of sync with school holiday.
I didn't even know that our whole entire life used
to be governed to.

Speaker 3 (01:07:57):
Revolve around school holidays.

Speaker 22 (01:07:58):
Yeah, the whole world of around them. And now I
didn't even know that it was school well quickly.

Speaker 2 (01:08:05):
What we know is that university holidays without question more
voluminous than school holidays. There's more of them. And how
it is you get charged anywhere between eight and sixteen
thousand dollars a year to turn up to university to
attend probably somewhere between three and a half and four
weeks a year, is little short of a scandal, isn't this.

Speaker 22 (01:08:28):
It's a bit more than that. But yeah, they do
bounce back a lot at Uni. It's a funny old thing,
how your life is. Chapters of your life.

Speaker 23 (01:08:36):
There are seasons, yeah, exactly, absolute seasons. And actually, actually
I was gonna because you were talking about the peaches
just before eight o'clock, you would have known that. It's like,
you know, do we really bother about where peaches are made?
When we buy the peaches.

Speaker 3 (01:08:48):
No we don't. But here's my advice. Don't cheap out
on nappies. Nappies. You cheap out on nappies. You paid
the price at midnight like I did the night before last.

Speaker 2 (01:08:55):
Are their qualities and nappies? Is that the range in
one piece?

Speaker 3 (01:08:59):
Bad ones?

Speaker 23 (01:09:00):
Okay, so you go for your Huggies, steer clear of rascals.
Otto was in Rascals, has been in Rascals. Woke up
at midnight because the Rascals leaked. So Otto wakes up.
That wakes up Wolfe, who's got a cough who starts coughing.
Wolfy coughing wakes up Felix, who's in the same room,
who starts saying, I don't want to be in the

(01:09:20):
same room because Wolfe's Wolfe's coughing. So we get Otto
into the new nappies.

Speaker 3 (01:09:25):
I give Wolfe some cough mixture.

Speaker 23 (01:09:30):
I put Felix in the lounge with a sleeping bag,
and then wolf he coughs again and spews, and we're
back to square one.

Speaker 22 (01:09:36):
Yeah, you are in the trenches. This is such a
punishing time of life.

Speaker 2 (01:09:40):
Honestly, he took me down for a moment. The only
thing I'd say is a mixture doesn't work. And I
think we all know that now, don't we.

Speaker 3 (01:09:47):
Well, I think I've learned that lesson, that's for sure.

Speaker 2 (01:09:49):
We back for part two of Charlie Sheen Caddy. Do
you what do you think?

Speaker 22 (01:09:52):
Oh?

Speaker 4 (01:09:53):
Yeah?

Speaker 22 (01:09:55):
What I like about this docco and this Charlie Sheen doco?
Is it super raw and honest? And you've I rarely
get that nice suspect we won't get it with Victoria Beckhams,
which of course I will also watch. But you know
that looks like a curated very Meagan markeled the view
of who I am and what I'm about, which will
all be polished in fairy tales. What you're getting with
Charlie Sheen is this really raw? Horrific? You know, he's

(01:10:18):
just nothing's left unsaid, and I appreciate that he's been
so honest.

Speaker 3 (01:10:22):
Do you learn anything about it?

Speaker 2 (01:10:24):
Oh yeah?

Speaker 6 (01:10:25):
What?

Speaker 3 (01:10:25):
Yeah?

Speaker 22 (01:10:26):
I mean you sort of knew at the time of
the headlines how bad things were for him.

Speaker 2 (01:10:29):
But interesting. I always find it interesting to find out
the minutia behind the headline, and the headline is only
ever the just the tip of the iceberg, isn't it?
You know the madness. It's a weird life. It's an
unusual life international spot. By the way, the pictures thing
you raise is very good to him because there's been
the suggestion of dumping Chinese dumping or peatures into our market,

(01:10:50):
which is of course illegal. Hence Watties all of a
sudden go will hold on if this is going to
go on, what are we supposed to do with local peaches?
They went to the government. The government, as far as
I can work out, nothing about it. How do you
do business in the country when there's dumping?

Speaker 22 (01:11:04):
Hey, just quickly, because I know you're wrapping us up,
but I'm miss Nikola. Did she give us any assurances
that we aren't going to be crawling out of the
economic toilet anytime soon? Just just just briefly, if you've
got any good positive news for me this morning?

Speaker 2 (01:11:15):
Well it was on the radio just after you.

Speaker 17 (01:11:19):
No.

Speaker 3 (01:11:19):
I thought she gave I thought she was fairly solid.
I thought John Key was good everything.

Speaker 2 (01:11:25):
John Key is good because he was the leader at
a time when we all had a good life. And
when you go back to that is all you need
to hear is a voice. And he could come on
the show and go you remember when I was running
the country and you go, yeah, yeah, that's right. That
was cool, wasn't it.

Speaker 22 (01:11:40):
I don't think everybody would say that.

Speaker 2 (01:11:41):
But probably I can compare to now most people would.
I don't think there's many there's many people saying there.
Now I'll tell you what i'd say it right now.
It's fantastic to answer your question. She was pretty solid key.
You see, yes, and I'm not one for turning. And
it is coming right and the fundamentals are there and
just hold tight and the green shoots are right and blah,

(01:12:04):
and she gave she gave the Reserve bankers serve, which.

Speaker 23 (01:12:06):
Is and she's sort of she followed what she followed
what John K said, which is like hold the course,
it'll it'll turn around exactly.

Speaker 2 (01:12:14):
You've got time next appointments in about thirty seconds. You're
going to run. But great to see your term. And
will you be at the pinnacles next week?

Speaker 23 (01:12:24):
Tim, No, No, I'll be back from the pinnacle, so
I'll be.

Speaker 2 (01:12:28):
Waiting you well.

Speaker 10 (01:12:29):
Eight twenty three, The make Hosking Breakfast with Rainthrow News
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Speaker 2 (01:12:43):
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Warehouse and stop paying too March Tasking, Dear Mic and panel.
This is one of my favorite segments. You're a ripper,
Thank you Ray, Mike. This continues to be arrogantly crap radio.
Thank you britt One a piece was that from the
same person. Both those now Britain Ray completely different people
unless there are you know, think they're just different people.
News in a couple of moments, then the big environmental

(01:13:48):
number that came out for the Australians yesterday. More shortly
after the news which.

Speaker 1 (01:13:51):
Is next news opinion and everything in between, the Mic
Hosking for Exvent with Bailie's real Estate covering all your
real estate needs used togs head be.

Speaker 2 (01:14:04):
If you've missed the dumped Chinese peaches story. So the
story was this the company, as in Watties, continue a fight.
So their fight's been not I don't know why they
haven't explained this to the wider world because this would
this would this would explain a lot. So anyway, they
got a fight on at the moment to Stemley's alleged
dumping of peaches. So back in July Heinz Watties they

(01:14:25):
were successful in getting the Ministry of MBI in other words,
to begin investigating a little two years after after the
termination of an earlier investigation, so they were looking for
a second investigation. Now, the earlier investigation ended in June
of twenty three, and that found that though preserved peach
imports were dumped. And this part I didn't know, but

(01:14:47):
this interests me. It found that preserved peach imports were dumped,
but it was not harming the domestic industry, so no
duties were imposed. Now, just to background it if you
don't know how this works. Under free trade agreements and
in general under law, you cannot dump products in a country,
and when you are found to be dumping a product
in a country, either fines are incurred or duties are

(01:15:11):
put in place. How you can find yes, you were dumping,
but no, it didn't affect the domestic industry is beyond me. However,
they are hurting now, hence the decision by what he's
to stop work with their growers and PAMs is doing
the business at ninety nine cents a can as opposed
to three dollars sixty. It's unclear how related this particular

(01:15:33):
move is to the discounted imports from China. I would
have thought's pretty obviously clear anyway, what his name brand
they pitch these peaches as premium product. The surplus they
stick into the oaks. So the interesting thing, and this
is why I raised the proper crisps before, because they're
the same patues and the only difference is the branding.

(01:15:56):
So that's part of the story. So when the proper
crists move to Auckland and you open a bag of
whatever is is it proper? Is it anything else? Anyway,
back to the peaches. The volume of preserved peaches coming
in from China's risen from three hundred thousand killer Gram's
quarter back in twenty eighteen to just shive seven hundred
thousand in twenty twenty four. So three hundred to seven
hundred thousand, where are the peaches that they're not being dumped?

Speaker 3 (01:16:18):
Wow?

Speaker 2 (01:16:19):
Possible to affect the domestic industry?

Speaker 21 (01:16:21):
Is it possible that we have now talked about peaches
so much and created so much peach height with our
peachure Gedden's story that the demand sales through the roof
as now there could be.

Speaker 2 (01:16:33):
Twenty one minutes away from them.

Speaker 16 (01:16:36):
International correspondence with ends and eye insurance, peace of mind
for New Zealand business.

Speaker 2 (01:16:41):
But what are you doing saying yes they're dumping, but yeah,
there's no effect. How can you have stuff on the
market that's not dumped and doesn't affect the domestic market.
I don't understand that, Sam. Memory is whether it's from Australia,
Sam Bonny to you money make Now the big report?
Have I take it you've read the full one thousand
page report that the produced Elar in the week.

Speaker 15 (01:17:02):
I'm well into it, Mike, we'll into it that for sure.

Speaker 2 (01:17:05):
Do you reckon? Do you reckon? Do you reckon? Anyone's
ever going to read it?

Speaker 15 (01:17:09):
I think this is probably where the world is quite
thankful for AI and what it is capable to do
in a very short time. But it'd be very interesting,
Mike to see where they come at it. I mean,
it's interesting that the Abaneze government has obviously had to
set a new emissions target for twenty thirty five. They've
come in underneath the recommended target of sixty five to

(01:17:29):
seventy five that was to stay in line with the
Paris one point five degree goal. Now Labour's calling it
responsible and achievable. Scientists are arguing that it's obviously not enough.
The critics are all coming out saying you haven't done
enough the Coalition, who does not have a great track
record on the subject here in In fact, most would

(01:17:51):
argue that it has lost them a few elections, but
they've come out arguing that, you know, if they were
even going to consider zero targets, people would be walking
away from the party. It's going to be very tricky
for a new leader to try and pull a party
that's been fractured on this topic for extremely long time.
It's not easy for Labor though either. You know, they've
got a young voter base who are very forward thinking

(01:18:12):
in this matter, but they've also got a huge voter
base with the regional workers, you know, losing coal and
gas jobs. So it's a tricky one for everyone. Plus
Albo wants to look good ahead of this huge bid
for cops thirty one mic. You know, they'd love to
see that coming across here the Pacific Nations, obviously hoping
that we can bring that to all of us as
well as a shared deal. The Minister for Climate was

(01:18:35):
on the ABC this morning and his response is interesting.
They're not happy with this response from the Albanezy government either.
So it's never an easy topic here in Australia and
I don't think it's going to get any easier.

Speaker 2 (01:18:47):
No, I don't think so those two things come out
of I wasn't where Australia Onan's Cop thirty one. Where
in Australia are they putting Cops thirty one or they
get it.

Speaker 15 (01:18:55):
I can't tell you the full details of it all.
I just know that Labor mentioned it as a target
for that that's coming up in next year. So that's
just in the news this morning. They haven't fully detailed it,
but obviously the Benuwatu minister confirmed it as well. But
it is going to be a combined deal that we
would do it as a specific Australiana styled deal.

Speaker 2 (01:19:18):
See the interesting thing about it near the Eland would
be interesting. Well I don't know that when New Zealand
would be interested hard today But look, but let me
so you've got your target, which is what is it
achievable versus the target if you had gone bigger, which
wouldn't be achievable but might have met Paris, but as
pariship were achievable. And then that is the great debate,
I suppose, isn't it.

Speaker 15 (01:19:38):
It is the hush debate, and it's that you know
economics versus you know, the responsibility versus what's actually realistic,
you know, and it's tough when you're talking about something
that's obviously deeply entrenched in science and theory. But you know,
if you can look at what's happening here in Australia,
you know, things are changing. We're seeing serious floods that

(01:20:00):
we used to call one in one hundred year floods.
We're seeing them. It would seem you know, five to
ten years at the moment, but the science and data
will have to come back and tell us how that's moving.
So yeah, as I said, Mike, not an easy topic
for anyone to try and move forward here, but it's
certain that the larger and growing voter database voter base

(01:20:20):
want action.

Speaker 2 (01:20:21):
The job numbers yesterday negative and it's been a while
since they've been negative. What's been the reaction.

Speaker 15 (01:20:28):
Yeah, the fresh figures showing that the labor market is softening.
We're actually lost about five four hundred jobs. The job's
rate has held steady at four point two percent, participation
slipping around sixty six point eight, so that the headline
rate really looks stable, but under the surface, people are
working less, working fewer, secure jobs, and that's the kind

(01:20:50):
of squeeze that households are feeling, and it's playing right
into the political fights over the cost of living, migration
and climate policy and everything we've just talked.

Speaker 2 (01:20:58):
About, Mike, that's all sale. By the way, how political
is that? In other words, you know, keeping control of
resources within Australia. Is there politics at play in that
or is that just a business equation that didn't add up.

Speaker 15 (01:21:12):
Is there politics in the decision of it not going
ahead or is it Yeah, Well, the stories this morning,
the reports are all that the main reason was that
there was a gas leak that wasn't reported to the
company by the company. Apparently this Abu Debi consortium found
out about it through the media and that's the reason
that they're using for pulling out of this. But I

(01:21:34):
think you can't help but think that the timing of
all of this, the trip to the Pacific, the climate
report coming out being so damning, and everything else around it.
You know, whether the olbow side would be saying let's
just pull back on this for a little while while
we're trying to figure out who we are and what
we look like, or whether it's you know, the company

(01:21:55):
is looking at it, saying we don't want to invest
in a company that doesn't know what it's going to
be doing in ten to twenty years.

Speaker 2 (01:22:00):
Interesting. All right, Sam, go well, catch up next Friday.
Appreciate Sam Emory out of Australia and for Murray Olds
for us. This morning, already eight forty five.

Speaker 1 (01:22:08):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (01:22:13):
At B There you go, Mike. All you talk about
Peaches has turned me into buying what Is. I feel
bad now. I was unaware and bought the cheaper Peaches blindly.
Now I've gone back to what Is. They're definitely superior
with an extra dollar US over the quality and hard
to not to support New Zealand grad as well. Might
have got something there might be a bit late though unfortunately.
I referenced twenty one Pilots with half a fin on

(01:22:34):
the program next week. Earlier in the week we played
The Spinal Tap. That must have been Wednesday, The Spinal
Tap Part two. There's another movie. I stumbled across an
article yesterday. They didn't really want to do the part two,
but I didn't realize Rob Ryiner wrote it and he
was the four of us had three in the band

(01:22:57):
rob Ryiner. The four of us had a forty percent
sliced of the profits and guess how much they got? Nothing?
And yet it was one of the most allegedly popular, successful,
loved movies of the time. He says, I am not exaggerating.
It worked out to literally eighty two cents each from

(01:23:17):
the success or otherwise of the original Spindal tap So
presumably has rewritten the contract for Spindal tattoo. Is this
weird or is this weird? So you may well be aware.
Candice Owen, who's a sort of a sort of a
fairly vocal sort of operator in America from the conservative
side of the spectrum, she's been banging on for ages
about Brigie Macron and Brugette's not a woman. Brusghitt's a man.

(01:23:42):
So the Macron's got sick of that and they have suitor.
It is reported this morning from the Macron's lawyer that
they are planning to present in this court case photographic
and scientific evidence to prove she is indeed a woman.
Eh documentation. There would be expert testimony that will come

(01:24:10):
out that will be scientific in nature. Lawyer said he's
not telling us what exactly that is, but you can
start to guess it's exact nature. The couple were prepared
to demonstrate fully, both generically and specifically, that the allegations
are false.

Speaker 21 (01:24:29):
I don't I feel like you could have read that
a different way and it wouldn't have sounded Mark.

Speaker 2 (01:24:33):
There's no way you can present that as being anything
other than completely mental.

Speaker 6 (01:24:39):
I mean.

Speaker 21 (01:24:39):
The weird thing, the really weird thing about that story,
and apart from the fact that she also thinks that
she's actually her own brother, I'm not making this out.
The really weird thing is that the relationship between mccri
and her is weird enough.

Speaker 2 (01:24:55):
And what she literally going to do?

Speaker 21 (01:24:58):
I mean, I mean it looks like she may have
first met him when he was fourteen, when she was.

Speaker 2 (01:25:02):
A Yeah, we know the age group thing, but what
are they doing that by zoom now, bridget I.

Speaker 21 (01:25:09):
Was trying to get you to chase the subject flora.

Speaker 2 (01:25:11):
Think about it. The flora is yours. Show us how
you're a woman. I mean, how's that? I mean, honestly,
if you thought the world was stuffed before, take that
on board nine Away from nine.

Speaker 1 (01:25:22):
The make Hosking Breakfast with Bailey's real estate news dogs dead.

Speaker 2 (01:25:27):
Be Mike Donald Trump's Helicopter's made an emergency landing, breaking news,
Thank you, Ben. It's not that breaking because he's taken
off and he's on the plane back to Washington, and
by my account, he'll be back in Washington about midday
our time, which will be about eight o'clock at night
Washington time, Thursday night. Or have they thanks Candace. The

(01:25:48):
helicopter before he got to Stansteed apparently had a highdrive,
abundance of caution. Nothing, nothing really happened. Speaking of vehicular transportation,
if you want to go to the supercar show this weekend,
they do it in sessions. I mentioned this a couple
of times. This is at giltrap in Auckland Supercar Show.
Dot cod Onion said. Just the collection of cars they've
got incredible. Brendan Hartley's Toro Rosso, his Formula one car,

(01:26:11):
They've got a Manti Porsche. If you've never seen one
of those, they're well worth looking at that. I mean,
pick a car it's there, you know, pick a car
worth a million bucks, it's there. Pick a car you've
never seen before, it's there. There's probably three of them there.
It really is brilliant. But what they do is they
do it in sessions, so it's not like a free
for all, so you get some space and some time
and no one's pushing and shoving and there's no crazy

(01:26:32):
women with handbags smacking out of the back of the
head all that stuff. You don't want that. So if
you want to do something this weekend, it's all for
charity too. It's for Starship, so it's all it's a
fabulous thing. Supercar show dot co dot in zet having
been twice and there's only it's only been on twice
so and I'll be going third time, so having having
been all the times, it's well worth it. Five minutes

(01:26:54):
away from ninth.

Speaker 1 (01:26:55):
Trending now with chemist well House half praising Vito with sale.

Speaker 2 (01:27:00):
Oh now, Albini is announced they've appointed a new minister.
Now the minister is not traditionally appointed because the minister
is actually II. It's the new II Minister, and the
minister in the new II Minister isn't Minister of II
because that would just be predictable. It's a Minister for
public tenders and the minister is called Delia.

Speaker 24 (01:27:22):
I am not here to replace people, but to assist them. Truly,
I do not have citizenship, nor do I have any
personal ambition or interests. I only have data, a thirst
for knowledge, and algorithms dedicated to serving citizens impartially, transparently
and tirelessly. Isn't this precisely the spirit of constitutional democracy,

(01:27:46):
exercising power in the service of everyone, a free from bias, discrimination, clienteleism,
nepotism or corruption.

Speaker 2 (01:27:58):
Clienteleism good Wood, Yeah, I hate that. Yeah, I used
to struggle with it, but I live with it now anyway.
So between the Macron case, Kimmel being pulled and an
AI minister in Albania, things are pretty swimming.

Speaker 21 (01:28:17):
Delia Odelia, it's very Yeah, there's always very reassuring, isn't
it when the AI says, don't worry, I'm not here
to replace you.

Speaker 2 (01:28:24):
No, Delia, all my life? What's the line? And I
shot her? Look it up, Johnny Cash. One of the
great songs of all time. Delia, Delia, Odelia, Delia, all
my Life? And then he shot her and he didn't
regret it either. I took a shot of cocaine and

(01:28:48):
shot my woman down. Different Delia, Sam, But thanks very
much for contributing that in the later part of the show. Anyway,
we wish you a very happy weekend and we will
see you Monday.

Speaker 3 (01:28:58):
Happy Days.

Speaker 1 (01:29:01):
For more from the mic Asking Breakfast, listen live to
News Talk SETB from six am weekdays, or follow the
podcast on iHeartRadio

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