Full Show Podcast: 20 August 2024

Episode Transcript
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Speaker 1 (00:00):
The Breakfast show. You can trust the Mic Hosking Breakfast
with Bailey's real Estate, your local experts across residential, commercial
and rural news talks head been well.

Speaker 2 (00:10):
You welcome today new job data, We've got new population data.
We got the DMS opening the show in Chicago. We've
got the interest rates starting to tumble. Now the perments.
They had a written torrid day on the Maraah, but
then you got a poll that showed things are actually
game pretty well. Catherine Field and France Ron Little in
the UK for it, asking welcome for this Tuesday morning,
seven past six. Now, like a lot of what is
told to us these days, detail is hard to find.

(00:32):
So the Health Minister's out yesterday reassuring I suppose all
of us that the so called code black in fungar
Ray on Friday didn't mean the ED closed or indeed
turned patients away. Firstly, code black, I mean that's alarmist,
isn't it. What does it actually mean? It's a term
used obviously by medical staff to give them a sense
of where their facilities at, but for the rest of

(00:52):
it's merely a headline. Code black sounds dramatic. Here is
what I wanted to know, but didn't get any answers
to give them. The popular of the area is not great.
It struck me as amazing that by lunchtime Friday they
had had eighty arrivals in ED. Eighty They had twenty
one in an hour, at about one every three minutes,
I mean Los Angeles London? Yes, sure, fung array? Is

(01:14):
that possible? Who are these people and what's wrong with them?
Surely the answers to that are critical to knowing more
about Code Black? Are they even in the right place?
How many should be at doctors not an d How
many people already were in ED and shouldn't be because
the systems clogged and they hadn't been shuffled off to
a ward elsewhere? Are thereby allowing new patients to enter
the system. If in that one hour all twenty one

(01:36):
were genuine emergencies in the right place looking for the
right help, what does it tell you about the region.
Why do we have so many critically sick people in
a single hour from such a small population. How many
of those injuries or illnesses are self inflicted? Are how
many are accidents? What sort of accidents avoidable? Radiotic? How
many of the patients will repeat, and why just calling
code black and saying you're fallen, saying you're one hundred

(01:59):
and fifty percent, it doesn't actually mean anything without context.
Without context, or you have as alarmism, the sense that
things are wrong or broken. With there enough stuff? Is
the hospital too small for the area? Is there somewhere
I mean in this somewhere has got to be the
answers right, And with the answers lie some sort of clarity,
clarity that you don't get when all you're looking to
do is provide noise. In a headline WO News of

(02:23):
the World in ninety seconds asked off the coast of Bally,
if you are just joining a Six are still missing,
including a well known tech entrepreneur guy called Mike Lynch.
The local mayor has got no details on the survivors.
Survivors are not talking much. They're very confused because it
happened at nights.

Speaker 3 (02:39):
It was dark and they found themselves in the water.

Speaker 4 (02:42):
Some of them were lucky enough to see themselves and
were taken directly to the emergency room.

Speaker 2 (02:46):
This bloke is a local.

Speaker 4 (02:48):
Around five to four o'clock a water spout came lasted
about thirteen minutes and took everything away. Here in the
harbor at around four point thirty five. Who went out
to see to give aid, but we only saw the
remains of the boats float.

Speaker 2 (03:01):
We did not find any men on the sea. Then
to the war, where the Ukrainians have got a third bridge.
Russian seem incapable of responding to all of this, and
the mood is up for those doing the fighting.

Speaker 3 (03:10):
If they receive orders, we'll go.

Speaker 5 (03:12):
We'll go wherever we are directed and carry out our duties.

Speaker 2 (03:17):
In Chicago, the dams are getting ready to fizz on
day one of their convention. A lot seems to be
going their way, including the fact Carmel has arrived late
in the race.

Speaker 6 (03:24):
We are but eighty something days away from election.

Speaker 3 (03:27):
Day, so the amount of time that we have to
sustain the momentum is very short.

Speaker 2 (03:35):
And in Britain, sticking all those people in jail because
of the rioting has led to some well pretty full jails,
so they're taking some others and leaving them out.

Speaker 3 (03:43):
It is an absolute crisis.

Speaker 6 (03:44):
Is the worst I've ever experienced in the job for
just over twenty five twenty six years. So this is
a sensible solution for now. But it is just another
sticking plaster, which of.

Speaker 2 (03:55):
Course has political consequences that require a bit of spin.

Speaker 7 (03:58):
We've managed that against very difficult circumstances, I can tell you,
And for my part, I think the response of the
criminal justice to the recent disorders has been a major
reason that the disorders have subsided.

Speaker 2 (04:11):
Finally, we have a decade long study from the American
Psychological Association that surveyed over fourteen thousand German residents and
the average age that those who took part declared you
are old. What age do you think people generally agree
year old? Seventy four point seven. It increases a little
bit when you ask the same people what age is
old when they actually get to seventy four point seven,

(04:34):
the answer suddenly becomes seventy six point eight. But that's
human nature. I suppose the news of the world speaking
of age Philled Honor Hughes passed away overnight at the
age of eighty eight, one of the most famous American
talk show hosts of all time. Long illness. He was
at home surrounded by his family created, of course, the
piled Donahue Show, King of the Daytime talked Trailblazer introduced audiences, participation,
all that sort of stuff. Six thousand editions of his

(04:56):
program between nineteen sixty seven and nineteen ninety six. Born
in Cleveland nineteen thirty five, began his media career in
the late fifties and talk radio, which is not a
bad place to be. Twelve pass six.

Speaker 1 (05:10):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News.

Speaker 2 (05:15):
Talk SIB got a little bit of growth in Thailand
two point three annualized April through June. For the quarter itself,
it was zero point eight percent, So they're doing reasonably
well in the tire. King officially endorsed a new prime
minister yesterday, the name of Shinawatra. Does it ring a bell? Yes,
Orday our youngest ever prime minister at the age of
thirty seven. She is the daughter of Taxon and Thailand's
second woman prime minister. So a new prime minister in

(05:37):
a bit of economic growth, not a bad way to
start the week. Fifteen Right out from JMI Wealth Love
who we found directly on the Tour de France. It
is Andrew Lance Armstrong Kellahow. Good to see, bonjour, bonjour.
Did you have a good time, wonderful time?

Speaker 3 (05:54):
It was hot, it was brutal. There were lots of hills.

Speaker 8 (05:57):
Triple at Center Mount Von two was one thing I
will never do again.

Speaker 2 (06:03):
The old Triple a cent. What sort of what do
you reckon? You push out on a bike? Would you
know that off the top of your head?

Speaker 9 (06:09):
I know it?

Speaker 8 (06:10):
Intimately make it all depends on how long do you
want to push those watts for.

Speaker 2 (06:14):
I reckon for a good ten to fifteen second burst.
What do you reckon? You can get to Oh.

Speaker 8 (06:19):
We're talking one hundreds, Mike, you know probably you know,
close to ten to fifteen seconds. Oh, you've got to
be six seven, eight hundred easy.

Speaker 2 (06:27):
That's impressive.

Speaker 8 (06:28):
But it's different when you're going for two hours. It's different,
you know, it's all about.

Speaker 2 (06:32):
Also, it's different when you're downhill.

Speaker 3 (06:35):
That is very true. And you don't need to peddle
at all. And I can tell you when you're at
the top.

Speaker 8 (06:38):
Of about Duez, there's a lot of downhill in front
of you.

Speaker 3 (06:41):
Those are the bits I love the best.

Speaker 8 (06:42):
Actually, yeah, I excel in those given my weights, Mike,
I excel with those downhills.

Speaker 2 (06:48):
And I'm glad you had a good time.

Speaker 5 (06:50):
Now.

Speaker 2 (06:50):
The PSI at forty four point six, you've returned to well,
you know what do we say?

Speaker 8 (06:56):
Well, Mike, look after banging on for a few months
now about the sort of parlos nature of the local
economic data, I go away for a couple of weeks
and the realization of how weak we are economically is.

Speaker 3 (07:05):
Fed right through the rbn Z.

Speaker 8 (07:06):
We've got a low official cash rate and just looking
at that high frequency data it's been released since.

Speaker 3 (07:13):
That call, I think it has vindicated the RBNZ move.

Speaker 8 (07:16):
And we've got the dual release of the performance of
manufacturing and performance of services manufacturing Friday, we've got the
services yesterday. Just looking at the services by itself, the
July read, look, it was an improvement on June, but.

Speaker 3 (07:28):
The level is still awful.

Speaker 8 (07:29):
It's just not as awful as the previous read and
that was a very low barred hurdle historically speaking on
a relative plasis, these numbers are dreadful. And Mike, what
was interesting as part of that OCR decision. You've got
the monetary policy statement. Now, the PMI and the PSI
were specifically referred to in the Monetary policy statements, though

(07:50):
these are the high frequency numbers that the RBNZ does
pay attention to. For the record, the PSI for July
forty four point six at game three point nine from June.
It is the high results since May. But I just
want to give you some historical context here. The average
of the PSI so far in twenty twenty four is
forty six and a half. The long term average for
the whole life of this data series is fifty three

(08:14):
point two, So it's very weak.

Speaker 3 (08:16):
At the sub index level.

Speaker 8 (08:17):
Activity sales thirty nine point one, which is horrible. New
orders has moved up to forty five, it's still in
contractionary territory. Look the bens At chief economist Mike He
noted that the bounce this month, welcome as it was,
doesn't even get that performance of services, and its back
to the lowest level that it got to during the GFC.

Speaker 3 (08:38):
So there's your context.

Speaker 8 (08:40):
Now the concont index put the two together forty four
point three.

Speaker 3 (08:43):
That's just a very weak read for GDP.

Speaker 8 (08:45):
Look but as I said, Mike, data since the OCI
cut has really supported that bank's move.

Speaker 3 (08:51):
But in other words, what it's really doing is just
depicting the economy.

Speaker 8 (08:54):
Is like it's the economy basically, Mike is doing a
drunken shuffle backwards. However, however, there is still some hope
now that by twenty twenty five wheels sobered up and
be moving forwards.

Speaker 2 (09:05):
Which I hope, so, I hope.

Speaker 9 (09:06):
So.

Speaker 2 (09:07):
Given the Chinese story, give us a quick one on
a two because they seem to be doing really well.

Speaker 3 (09:11):
Yeah, look, a two never far from the headlines.

Speaker 8 (09:14):
We're in local reporting season at the moment, so in
the context of a week domestic economy, but a two
milks are much more sort of exposed to the Chinese economy.

Speaker 3 (09:22):
The release of itself so yesterday.

Speaker 8 (09:24):
Had the biggest market reaction in terms of companies releasing
numbers yesterday. The company's actually been doing very well to
grab market share for its products in China. So this
is infant milk formula. It's a tough market. Sales of
infant milk formula in China. The whole market is down
about eleven percent. That's a massive for a country that big.
This because they've got the declining birth rate. Share price

(09:45):
reaction yesterday was really a reflection of the weaker outlook
given by the management. The share price fell almost nineteen percent,
so it got smacked. The thing was the market was
getting quite bolish on their innings outlook, those hopes have
been dashed a little bit because of this weak outlooks,
so dampening expectations for that sort of accelerating growth a

(10:05):
company saying supply chain constraints and the continued decline.

Speaker 3 (10:08):
In the overall Chinese market.

Speaker 8 (10:10):
I do want to point out, though, you know, you
look at that dramatic move nineteen percent down, but the
share price was up seventy two percent so far this year,
so it points to how much optimism was built into
the share price. But they're actually they're doing well over there,
but the outlook's still a little.

Speaker 3 (10:25):
Cloudy right out.

Speaker 2 (10:26):
Numbers, please, I can.

Speaker 3 (10:27):
Give you the numbers.

Speaker 8 (10:28):
The dal Jones is up one hundred and forty eight
points overnight, eight hundred eight, the S and P five
hundred up thirty four. That's probabe, about two thirds percent
five five eight eight. Then a'stak seventeen thousand, seven hundred
and seventy one up one hundred and thirty nine points,
so or positive territory over night. The forty one hundred
games just over half percent eight three five seven.

Speaker 3 (10:47):
The Nick got smacked yesterday, down.

Speaker 8 (10:49):
Six hundred and seventy four points of very volatile that
market at the moment thirty seven thousand, three hundred and
eighty eight. Shangpai compt it up fourteen to eight ninety three.
The Aussie's gave nine yesterday the ASEX two hundred thousand,
seven nine eight oh, and we lost sixty five points
in the ends next fifty two thousand, six hundred and
sixty two KEEPI dollar point six one o five against
the US point nine oh seventy five Ozzie point five

(11:11):
five one two Euro point four to seven against the
pound eighty nine point four eight Japanese VN gold two thousand,
five hundred and three is the gold price Sprint crewd.

Speaker 3 (11:20):
Seventy seven dollars and seventy one cents tomorrow.

Speaker 2 (11:23):
Andrew callaher Jmiwealth dot co dot n Z tasking one
to watch. A Canadian company that runs a thing called
circle k have had a crack at seven eleven overnight.
They're looking at sixty billion dollars if they get it
in the US and Canada alone. You're dealing with twenty
thousand sites, so it's a major and the regulators will
be involved with sixty billion dollars. Is a lot of
Day six twenty one, you refused talk zb.

Speaker 10 (11:47):
E Money MAKEERSMAK.

Speaker 1 (11:50):
The Vike Hosking Breakfast Full Show podcast on iHeartRadio powered
by News Talks B.

Speaker 2 (11:57):
Couple of things you might be interested in. GMS announced
over night, as in general motives, laying off a thousand
of their staff. So that plays into the whole American
are we going into recession or not? And that plays
into the Karamela Harris. If things go pear shaped economically,
she's toast. If they go well, she might not be.
Goldman Sachs overnight have cut their chances of a US
recession down to twenty percent from twenty five if you

(12:20):
believe what they say. Singapore, interestingly enough new Prime minister.
Of course, he arrived the day after Christoph Luckxen left,
remember that a couple of months ago. Anyway, notable policy change.
They're now offering an unemployment support scheme which they haven't
ever done before, helps the lower middle income workers. Basically,
in Singapore, if you lose your job, you're on your own.
But what they're going to do for six months you

(12:42):
can get four and a half thousand dollars. It's the
skills future job seeker support scheme. You got to go
for training, you got to go for career coaching as
well as job matching services. These are essential investments that
you need to make in yourself to find better jobs.
Where if we heard that before six twenty.

Speaker 1 (13:02):
Five trending now warehouse, you're one start for Father's Day Fragrances.

Speaker 2 (13:08):
Michael Keaton's back. I love Michael Keaton reprising the role
of as Beetlejuice that's out next month. He's also got
another thing called good Rich, so his character is having
to raise two nine year old twins along with his
adult daughter after his younger wife leaves him. Mom had
to go back.

Speaker 11 (13:24):
Home for a little while to see you grandma.

Speaker 2 (13:27):
You know she's getting older.

Speaker 3 (13:28):
So I'm not the same interest here.

Speaker 12 (13:30):
No, she's not.

Speaker 11 (13:31):
She's not a good deal older than I am.

Speaker 10 (13:33):
But anyway, why do you see your dad?

Speaker 13 (13:35):
Isn't he all of our cats?

Speaker 14 (13:37):
Well, I'm twenty seven years older than you, which is
basically unheard of for siblings except me being ls.

Speaker 10 (13:44):
We know where to want to be bothered than year older?

Speaker 11 (13:47):
That there are really only three things that matter, how
much you've loved, how gently you've lived, and how gracefully
he let go of the things that really won't even
meant for you.

Speaker 10 (13:58):
I want you to channel a word that describes what
you need. We're all going to shout our words.

Speaker 3 (14:03):
At the same time.

Speaker 12 (14:06):
I was going to counter three.

Speaker 2 (14:08):
Keaton and me Lacunas are the stars of that one
that's in theaters on the eighteenth of October. Mike, a
little bit of this this morning already we'll talk to
the Prime Minister in our's time, people like took who
Morgan do nothing to advance New Zealand's growth in the modern,
thebolding world, and what to take us back to a
time of intertribal warfare and no high end underwear. It's
a very good point you make, because as I watched
him break the Prime Minister yesterday, I thought, you know,

(14:30):
it's one thing to have a little bit of conversation,
a little bit of back and forth, but I mean
just standing in the rain yelling at people. I mean,
what's what's the point of that? Where does that conversation
go apart from nowhere? And the irony of ironies? Took
Who Morgan? New Zealand First, the same party that's in
government to day promoting the very policies he apparently nowadays

(14:51):
seems to oppose. Sobeently, how do you explain any of
that nonsense view, have a look at the job market
for you. In just a couple of moments after the news.

Speaker 1 (14:58):
What News Bold opinions the my Hosking Breakfast with a
Vita Retirement Communities Life Your Way news tog said bes.

Speaker 2 (15:08):
Well, in my thoughts on the code black, the hospital
beds have reached full capacity, eds in high demand?

Speaker 13 (15:12):
Why?

Speaker 2 (15:13):
Probably because the GP's medical centers don't have appointments available,
or it's too expensive for a medical center visit and
free visit. Yep, no, that's entirely possible. But the point
I was trying to make is we don't know that
for sure, and until we do and say that is
the case, and that's not the emergency department's fault, is it?
In other words, the inference on code blacks, we're not
able to cope. Is the emergency department too small? Are

(15:33):
there not enough staff, is the hospital past it's used
by date? Or are people not in the right place?
And all of that's context that we didn't get twenty
three minutes away from seven, so they still to have
a Government of Plants say, to be fair, they had
the Olympics on and they probably had more exciting things
to do with their time. But they are back to
reality now, so they're trying to work on that cast
and field with that in a couple of moments. Meantime,

(15:54):
our job market, what can we see while we have surprises?
July ads are up three and that means they're up
for the first time since January. Listing's up three percent,
nearly one and four of those jobs. By the way,
we're in retail, closely followed by government and defense. Seek
Country manager Rob Clark is with us. Rob, very good
morning to you.

Speaker 15 (16:11):
Good morning.

Speaker 2 (16:12):
At first, blush, this all seems a bit weird. Is
the three percent of blip for a month or does
a summer of jobs come calling?

Speaker 15 (16:20):
I wouldn't quite call it a trend yet. What we
do see is the trends are still firmly downwards. But
in July, yes, we saw a monitoring increase off the
back of what it was particularly weak results in June
and May.

Speaker 2 (16:32):
Okay, so twenty percent plus of the jobs in retail.
How do we explain this when no one's going shopping?

Speaker 15 (16:38):
Yeah, so we think a lot of that is for
gearing up for the summer season, so it's an anticipation
of perhaps increased activity, just as we've seen in hospitality
and tourism, which is also peaked al spiked in the
July results.

Speaker 2 (16:52):
Can you see light at the end of the tunnel?
This is an increasingly oft used phrase of late light
at the end of the tunnel. RB's moved. Interest rates
are moving? Is there something in the job market to
see here?

Speaker 15 (17:03):
Well, look, we're always hoping for optimism, and you know,
whilst this isn't a trend, it's encouraging at the very least,
and we've seen some other sort of macroeconomic indicators that
are perhaps slightly brighter than we've seen in the past.
But you know, we don't want to be too hopeful
because we just need to look at the long term
trend to see that it has been down traveled down

(17:24):
quite significantly over the last little while. So we're hopeful,
but we're not out of the woods yet.

Speaker 2 (17:29):
How variable is the regional story.

Speaker 15 (17:33):
We do get variation in the regions. It was pleasing
to see that, you know, most of the regions were
up in July, and particularly in areas like construction, but
we do see some bounce. So if you remember last month,
South and was up and this month it's down, so
we do see a bit more bounce in the regions,
but the urban center's reasonably strong, low single digit growth
in July.

Speaker 2 (17:53):
Okay, what about the magic adds per job or applications
per read.

Speaker 15 (17:58):
Still very very competitive you are a job seeker. There
are still sixteen thousand jobs on seak, so there's still
a decent number of jobs, but just the number of
people applying per job is at all time high, so
it's pretty competitive.

Speaker 2 (18:11):
Good only Rob. Nice to catch up Rob Clark, who
is the seekh country manager with us this morning, twenty
minutes away from seven. Interesting business and we'll talk to
Paul spleenly about it in an hour's time. A fewer births,
fewer deaths, and so that affects the population overall is
about five point three million of us one point five
three births per woman. That's down, and so there will
be a point where we're sort of losing. We're bringing

(18:33):
more people into the country, but this is my ongoing concern.
I'll be interested in what Paul's got to say. Yes,
we're bringing more people into the country and therefore we're
growing as a population. So that's good, but the natural
increase isn't great. It's only twenty thousand on a year,
so that's the natural increase versus the whole immigration and
people leaving the country. But what I'm interested in is
his view on all the people coming into the country,

(18:54):
who they are, where they're from, and what that does
to the cultural balance as so many young people scarper,
especially for places like Australia. Nineteen to two.

Speaker 1 (19:02):
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Speaker 3 (19:07):
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Speaker 2 (19:08):
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(20:13):
But the report on banking comes out this morning. What
they say is only part of the equation. I know yesterday,
by the way, Westpac and Australia managed to produce a
profit at one point eight billion, which in fact was
up up six percent. Their margin of profitability actually rose
three basis points to one point nine to two percent.
So a lot of questions, but the ComCom report is

(20:35):
just part of the equation. The really important part is
once the government gets it, what are they going to
do about it? More with Crystal ba Lucks and surely
six forty.

Speaker 13 (20:43):
Five international correspondence with enz and Eye Insurance, Peace of
mind for New Zealand business Yepprimfield.

Speaker 2 (20:49):
And France, very good morning to you. Good morning mate,
three bridges down and Zelenski's having the week of his life.
So that would bring in the supply equation. Where are
we at with that?

Speaker 12 (21:00):
Well, he came up with a really nasty little response
to supply. What he caused a slow supply from the
West when he came out and said that war doesn't
take a holiday. Now what that means, of course, Mike
is we all know most of Western Europe is on
holidays still very much so we'll we for the next
couple of weeks. Now what he's come out He said

(21:22):
that because he says that he desperately needs longer range
weapons to try and sure up this incursion that the
Ukrainians have done into the coast region. What was interesting
one about this, Mike, was it really it seems that
there was very little coordination with Western partners on this
Partly Hannilas here is saying because clearly, the Ukrainians knew

(21:45):
they had to act swiftly, quickly, and that they'd learned
from last year's very much heralded counter offensive, which of
course was unsuccessful. So Zelensky is saying to them, you've
got to help me now. It looks as though we're
going to have on the back foot, and it may
be a way of taking the pressure off the attacks

(22:05):
that the Russians have been carrying out inside Ukraine, that
Dombas region, Zaparita. He really is sort of hoping that
this will ease.

Speaker 3 (22:14):
Off a bit.

Speaker 12 (22:15):
Perhaps Putin will move some of the troops back out
of Ukraine and into that area. And of course let's
not forget that also key thing that Zelenski wants he
needs to keep his population on side. So by looking
as though he's calling the West to come in and
help more, and by having this so called buffer zone
in place in the east, he may be hoping that

(22:36):
he can keep his population on side.

Speaker 2 (22:38):
Here's there been a tangible shift in the conversation. I mean,
we've been here a couple of times before, and that
has the war turned. What's the vibe.

Speaker 12 (22:47):
The vibe at the moment is I'm afraid to tell
you this make still too early to say. Ukraine is
still struggling to fend off the assaults in the east,
still the need for weapons livery, but it does seem
too early to say. But that dreadful scene, those dreadful
scenes that we had remember earlier in the year, Mike,
where it just looked as though it was something out

(23:09):
of the First World War, the trenches, the men dying
in the trenches, that does seem to have been eased.
But of course that could all change once winter returns,
When autumn comes, it could so easily still turn.

Speaker 2 (23:22):
Okay, So I'm assuming now that the Olympics arrival that
mister Macron has turned to attention to the fact that
no one's running the place. How far apart is everybody.

Speaker 12 (23:33):
If you'd asked me this about forty eight hours ago, Mike,
I had have said, yeah, you know, the left is
fairly united, the center seems to be fairly united. But
just as Emmanuel Macron sort of laid out the possibility
of talks for what he said he hoped would be
a broad and stable majority government the far left, one

(23:55):
of the bigger parties in the far left came out
and decided that it was perhaps time to heat the
heated it all up a bit, and they have come
out and said that if Emanual Macron fails to recognize
their candidate to become Prime Minister, they're going to launch
impeachment proceedings against him, saying that he has failed to
recognize the results of the elections. What this has done, Mike,

(24:19):
has made that far left party look like absolute ridicals,
because there's no way this could get through parliament. She
needed two thirds majority in both houses of Parliament for
us to go. And of course all the other smaller
center left and even further left parties, you know, the
Communists just completely disassociated themselves with this. Fonser Insamese, the

(24:42):
party that had won so many seats in Parliament, and
now it sort of all turns round and everyone's starting
to look again back at the center ground in parliament
to Emanuel Macron's party, and they leftover or the remains
of the center right Republican party that's been around and
saying well, maybe you can come up with something better.

Speaker 2 (25:03):
Tell you what I'm going to do. I'm going to
ring you next Tuesday. See how you're going go, Well,
look forward to it. Gaspine Field, who was in France
every Tuesday morning at ten to seven.

Speaker 1 (25:12):
On my costal breakfast with Alveda Retirement Communities News togs.

Speaker 2 (25:16):
Had been legited the DNC Shindig in Chicago shortly never before.
As the US entered an economic downturn, with the combined federal,
state and local budget deficit anywhere near the eight percent
of GDP. It's a global accident waiting to happen. Very
good piece in the Telegraph, Ambrose Evans precharge. You'll know
the name public accounts should be near balance at the
stage of the cycle years into a long economic expansion

(25:38):
of the US tips into a serious recession. From such
a depraved starting point, the figure could explode into the
mid teens. Reagan left office, and he was often criticized
as being a debt man. Reagan left office with a
gross federal debt of under fifty percent of GDP. Today
it's at one hundred and twenty two. There is much
ruin in a great nation, but America is pushing its luck,

(26:02):
and that is part of an ongoing commentary that most
people seem to agree on in this race. CNN, for example,
yesterday changed their pathway to two seventy. They're giving it
now to Harris. It's tight, but they're giving it to Harris.
So there's momentum for her, there's money being raised for it,
there's noise for her, there's plenty of media coverage for her.
But everybody seems to agree that if the economy turns bad,

(26:27):
she's toast, and if it doesn't, she's home free. So
in other words, it's largely beyond her control because what's
going to happen is what's going to happen. A little
bit of history in play today because Biden's turning up
and it's been a long time since anybody's seen a
president sitting hand over to somebody else at the convention,
So that's going to play out today. Jill's there be
interesting to see how she handles it, because no one

(26:48):
I suspect is angrier and more bitter than Jill. If
you saw the way she acted posts the debate debarcle.
Hillary's there today, That in itself will be interesting because
how close was she a back in sixteen? Jamie Raskin's
there today. Tomorrow, Barack and Michelle tag team double ticket

(27:10):
could well be more popular than anybody. M Hoff speaks
the first husband. Then you get to Thursday, Bill turns up. Nancy.
I'm not sure that's a thrill. It's probably a thrill
for them, but I don't know. It's a wide a
thrill for the world. Waltz speaks. And then of course
on Friday, our time, she does the business. So we'll
get you to Chicago shortly five minutes away from seven O.

Speaker 1 (27:29):
The ins and the outs. It's the fizz with business
fiber take your business productivity to the next level.

Speaker 2 (27:36):
Speaking of which us jobs before mentioned. So we got
some new data out this morning from Carter. They provide
services to private companies. They found that startups falling apart
at a rate of knots. They're failing sixty percent more
compared with this time last year. Rate of bankruptcy is
also up seven times compared with when they first got
tracked back in twenty nineteen. Big companies as well, at
all companies that were supposed to be big but didn't

(27:57):
turn out to be that big. Just last week, Kelly
closed down after being valued at one point four billion,
raising over three hundred million and twenty two to alone
twenty twenty two alone. The interest rate rises of twenty
twenty two. They were the major problem the tech boom.
When a large chunk of money was raised, that's all
slowed down. What money is being raised at the moment's
all off to AI. Of course, people can't get into

(28:18):
an AI enough. And that's why your driver's cars go nowhere.
It's why your drone deliveries go nowhere. It's all theory.
It's why solar. Look at Solar, got something on Solar
tomorrow on the program. If you look at the money
that's being raised internationally and here even in New Zealand,
in the solar market, there's hundreds of millions of dollars
of people piling into solar. And if you read anything

(28:41):
about sola, what you find is there's too much sold
in the world. The Chinese are making solar panels like
there's no tomorrow. The European companies make solar. They're closing
down left, right, and see even the Chinese are closing
down because there are so many solar panels. And yet
you go into the solar mark and go, hey, can
I have some money? They're falling over themselves. Venture funds
haven't been successful. Only noe percent of funds raised in
twenty twenty one of return any sort of capital to

(29:03):
their investors nine percent. Compare that to twenty seventeen when
it was twenty five percent. So according to Carter, we're
going to be seeing the potential of hundreds of thousands
of jobs in venture backed companies lost. And that is
why we return to the Karmala Harris story. It's the
Biden story. It's the Biden economy, and the narrative is
this that he's done well. Trump says no, they haven't.

(29:25):
It's a wrecking ball. And whatever way the Americans decide
is who wins the presidency? Anyway to Chicago shortly for you,
Paul Spoonley, I mentioned our our population, the numbers, the
stats came out yesterday. That's for interesting reading. And Christopher
Luxon for you after seven thirty this morning.

Speaker 1 (29:43):
Demanding the answers from the decision makers. The Mike Hosking
breakfast with the range Rover villa designed to intrigue can
use togs vs.

Speaker 2 (29:53):
Seven past seven. So it's the Democrats wait in Chicago,
of course, as they officially gather for the convention that
will confirm Karmala Harris as their candidate for the US presidency.
Former Treasurer for the DNC, Bill Drera's with us a
Bill morning to.

Speaker 14 (30:05):
You, Good morning morning, New Zealand.

Speaker 2 (30:09):
Do they go into the party, go in with real
momentum this week?

Speaker 1 (30:14):
It is?

Speaker 14 (30:15):
It is a feeling like I don't think he felt
since two thousand and eight with Barack Obama, maybe even
greater than that. I think it's uh, it's tremendous energy,
tremendous optimism. And you know, the contrast, I think in
terms of tone to the other candidates campaign is kidnappeding

(30:37):
more black and white.

Speaker 2 (30:39):
If I rang you six or seven weeks ago and said,
tell you what's going to happen here, Bill Biden's going
to walk and Harris is going to come in and
she's going to be really popular, you would have said what.

Speaker 14 (30:52):
I I don't know what I would have said. I now,
six weeks ago will be before the debate, so I
think I probably would have said, you're out of your mind.
And you know, I don't know how many of the
folks in in New Zealand saw the debate between President
Biden and former President Trump, but it was it was

(31:15):
such a stark moment that I think everybody, even the
people who love and support Joe Biden, as we do
known in a number of years an amazing, amazing person.
But you know, that moment was was really a rubicon
kind of moment. I think so, and I would have

(31:40):
said said no, I would have said.

Speaker 2 (31:41):
No chance, right, And what was seeing today the Biden
handing over, I mean that in itself is a piece
of history. Is it awkward for the party that the
person who should be running isn't or is it a
piece of history to be in briced.

Speaker 14 (31:55):
I think it's a little bit of both. You know,
I'm not I'm not at the convention. I had chosen
not to go, and now I'm a little bit kicking myself.
I think for all of us, there's a little maybe
a little bit of a tremendous amount of sadness and

(32:15):
maybe a little bit of guilt. He's such a wonderful man,
Joe Biden, who's done so much for this but just
given so much of himself that even though we all
know it was the right answer, I think it still hurts, right,
we hurt for him. So on the one hand, on
the other hand, we can't we just can't lose. We

(32:37):
can't have a dynamic where we both lose the White
House and the House and the Senate, and so I
think it could not have come together in a better way.
Supporting the Vice president and now her selection of Governor
Wallas as her vice presidential nominee.

Speaker 2 (32:54):
It's going to be fantastic to watch the day. Let's
see what happens this week. Build Dera, who is the
former treasurer for the Democrats National Committee. Are the convention
taking place in Chicago. Most of it will happen in
the afternoon New Zealand time ten minutes past seven. They
hear the banking market getting increasingly competitive. Course posts of
the Reserve Bank move last week on the cash rate.
Retail rates are now falling. A and Z cut some

(33:14):
of their fixed rates yesterday for a second time in
a week. Cooperative in the game as well. They're one
year rate, which is at six three nine is now
market lead. At the chief executive, Mark Wiltshire is well,
it's Mark, very good morning to you.

Speaker 16 (33:25):
Good morning Mike.

Speaker 2 (33:26):
How competitive is it for a bank at the moment.

Speaker 17 (33:29):
Yeah, it's good to see good use of home and
it's out the round of rate cuts from the banks
and as you say that leading rate the one year,
so they've come down quite quickly. Forty point reductions they
start to add up for customers, So you can certainly
see that competition out there.

Speaker 15 (33:43):
Now.

Speaker 2 (33:43):
Is it hard to generate appetite for debt when I
know full well in a month's time they're coming down
even further.

Speaker 17 (33:50):
Yeah, I think people will look carefully, you know, how
long they want to fix it for probably the six
months one years where we're seeing most customers go. People
always need, of course to buy and sell in a market,
so that'll take when they pulled the triggerut. But people
can always sit for a little bit on our floating
rate while they are looking at those rates making decision.

Speaker 2 (34:10):
What's your feel for what the Reserve Bank did, what's
happening in the retail market at the moment as regards
the economy and moving this country forward.

Speaker 17 (34:19):
Yeah, and I heard one of your earlier commentators, Look,
I think it was a good move to reduce now. Personally,
I was a little bit surprised to see it happened then,
but it was the right call. So yeah, I think
the economy was starting to hurt, and certainly that some
of the feedback we've had from our customers around the country.
So I think it'll be a relief to go from
having to have increases and your regular payments to now

(34:41):
actually having rate decreases coming through into your pocket. So
I think the timing was really important, and the signals
were that there was quite a lot of confidence in
the economy, so it's certainly timely to get those rate
reductions out.

Speaker 2 (34:54):
Good stuff. Make appreciate it very much. Mike Willshaw, who's
the Cooperative Bank CEO, with us this morning twelve and
it's past seven score on Mate Bradley at Infometrics Olsen
has done some numbers and I thought about this this morning.
Not that I come across the Auckland Harbor Bridge, but
I am constantly tossed off the motorway by the eight million,
two hundred and fifty seven three hundred and thirty six
cones that they still insist on putting out to close

(35:16):
various lanes. Anyway, the consultants, in case you didn't know,
are still charging apparently the government seventy five thousand dollars
a week to look at alternatives to the Auckland Harbor Bridge.
This is important for the whole country because this is
the heart of the economic engine. New Zealand. So seventy
five thousand dollars a week to work out options means
only two of them, isn't there there's another bridge or

(35:37):
a tunnel take you peck one or the other. So anyway,
the Harbor Bridge has been closed temporarily twenty times since
twenty twenty because it got a bit bruzy, and Brad's
worked out the closures total four hundred and thirty five minutes.
That's two point one million dollars in productivity lost unless
you factor in commuters, which is all of us changing
our route, which we have to of course, and when

(35:58):
you do that, he did a divos and from don't
worry about the places. If you're outside of walking, you
don't know what I'm talking about. It's just a big
diversion from Waira Road to k Road by a state
Highway sixteen that adds twenty one minutes to your journey.
One hundred and seventy thousand cars a day. Do it,
and suddenly the cost becomes thirty five million dollars just
because it's a bit breezy and somebody decided we'll just

(36:19):
inconvenience everybody. And that's the level of idiocy that still,
unfortunately sadly drives the economic story in this country. So
well done Brad for doing the work. Thirteen past seven.

Speaker 1 (36:31):
The Hike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (36:36):
At B Christopher Luxon in the next half hour of
the program, tell me Nielsen back on the show after
right by the way, looking forward to the catch up.
Sixteen past seven. Interesting new numbers meantime around our population.
There are five point three four million of us in
the year two July. That's a bump of a bit
over ninety three twenty thousand newborn seventy three thousand migrants.
Massive University sociologist Paul Spoonley back with us. Paul, very

(36:56):
good morning to you.

Speaker 18 (36:58):
Good morning.

Speaker 2 (36:58):
Make I noticed the mortality rate has bumped. Is that
some sort of administrative era. Is anything weird happened there
or not?

Speaker 18 (37:07):
No, I don't think.

Speaker 12 (37:08):
So.

Speaker 18 (37:08):
You'll notice that what they do is they produce figures
and you've just quoted them, and then they correct them later.
So I think it's probably just a rechecking of the statistics.

Speaker 2 (37:21):
Okay, fewer births is that part of a Western world
we're not having as many children as we used to think,
Yes it is.

Speaker 18 (37:29):
And so our births are dropping by about five hundred
to one thousand to a year. So there's each year
on year we've dropped by between that five hundred and thousand.
We're down at one point five to three bursts per woman.
We've got a long way to go to catch up
with Italy or Portugale or Germany, where it's down about

(37:52):
one point two burst per woman. But we're getting there,
and we've seen some of the biggest drops in fertility
in recent years that we see ever seen in this country.

Speaker 2 (38:01):
What is the big picture scenario for that? Do we
want to grow our population or not? If we do,
given what you've just told us, do we then have
to do it basically through immigration.

Speaker 18 (38:14):
Yes, to answer the second part of your question, Mike,
the only thing that will grow our population in any
number will be immigration. So the latest figures show a
drop to about ninety three thousand. Remember if you'd talk
to me a few months ago, we would have been
talking about one hundred and thirty thousand additional people as

(38:36):
a result of net migration in New Zealand. So migration
is our population growth factor. The question for me and
I think for many people, is what is the appropriate
level of annual population growth, particularly when we talk about Auckland,
where we know that the population growth exceeds the ability

(38:58):
of the city to provide for that population growth, so
all our infrastruction services simply do not catch up with
that population growth.

Speaker 12 (39:07):
Is that?

Speaker 2 (39:07):
And it's fascinated me for years that this whole thing
that you stay where you land, and everyone lands or
most people land in Auckland. Are we disproportionate as a
country with such a large chunk of our population in
one city or do a lot of countries have that
issue as well?

Speaker 12 (39:24):
No?

Speaker 18 (39:24):
No, The only other country that has a similar proportion
of its population in one city is Ireland and Dublin.
And so when you think about it, we're heading towards
what we estimate to be the case in about a
decade or more, is that forty percent of all New
Zealanders will live in Auckland and three quarters of the

(39:45):
population will live in the top half of the North Island.
So is that something that we want to see? And
in most countries that's not the case. So if you
take the UK where I am at the moment, London
is the primate the dominance city, but only a little
over twenty percent of the population live in that city,
so it's disproportionate compared with other countries. And I think

(40:09):
the assumption and your question about you know, between fifteen
and sixty percent of our migrants coming to New Zealand
end up an all club. Well, we could do things
to disperse that migrant population around the country, but we
seem unwilling to do so, and I don't know why.

Speaker 2 (40:25):
Indeed, all right, Paul, appreciate your time, and I have
a good break in that particular part of the world.
Paul Spoonley, the Massy University sociologist. I think we've tried partially.
You know, you get extra points Whinston Peter's come up
with the idea. I think a number of years ago
you get extra points if you moved to a rural center.
It just didn't work. People seem to like who stay
with their land for whatever reason. But a debate for
another day. Come back and talk about polling in a moment.

Speaker 1 (40:45):
Seven the Mic Asking Breakfast Full Show podcast on iHeartRadio
powered by News Talks.

Speaker 2 (40:53):
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Speaker 10 (41:45):
Four.

Speaker 2 (41:45):
One pole tells is something last night by not really
moving and another pole tells a something by being badly misrepresented.
Now the one news numbers last Night show essentially the
government traveling well. Most parties are stable. The Greens are
down a bit for obvious reasons, but it's all so
far within the margin of error. Really nothing's changed. What
that tells you is broadly couple of things. One, at
the stage of the electoral cycle, people don't pay as

(42:06):
much attention as they will be in eighteen months time,
and two, the government, with its level of support, is
doing basically what they said they would and most people
are pretty happy with it. The other pole was on
race relations. TV one promoted the fact only ten percent
think the government is improving them forty six percent think
they're damaging them. What they didn't give the appropriate prominence
to was the fact that thirty seven percent think it's

(42:28):
not making any difference at all. In other words, despite
all the noise and hotty are being drummed up by
the radicals and the media, most of us aren't engaged
because nothing is really changing. So if you take the
thirty seven who see no change and the ten percent
who see an improvement, you've got forty seven, which is
in fact more people thinking things raither neutral or better,

(42:48):
as opposed to the forty six percent who think they're worse,
which of course ties in with why the government numbers
overall haven't moved, and their support remained strong. The so
called drama around Mari policy is not actually damaging at all.
You will note the numbers weren't presented that way by
the state run broadcast. A good question might be why
not what moves needles is the economy and on that

(43:10):
we might be in for an improvement, and if we are,
what you will then see in the polling is polling
numbers most definitely shifting in the government's favor. Maori relations
have been tested and testing my entire life. The previous
government bent over backwards for Maori, their beliefs, their needs,
their causes, and look where that got them. The current
government have read the things right. Basically, outcomes are what

(43:31):
really count, whether in race relations or the economy. The
numbers broadly show they're on the right side of both.
Asking now, mister Trump, while the Democrats are all gathered
in Chicago, mister Trump is trying to counter that with
a bit of yakiy yak in Pennsylvania. He's supposed to
be talking about jobs, but you will note he isn't.

Speaker 5 (43:49):
She wants to give free health care for millions of
illegal aliens and give them all citizenship into the United
States immediately, and she then wants to sign them up
for Medicare and socialcyk s curity, and she wants them
to vote illegally if possible, anyway thinking vote, they don't
care if it's legal en and they're signing people up

(44:09):
as we speak. They're signing them up as we speak.
They don't care, they don't care about the laws. Very simply,
Kamala Harris is an economy wrecker and a country destroyer.
Our country will be destroyed if she gets in.

Speaker 2 (44:25):
So that's him in Pennsylvania as we speak, Mike not
the six month rate is hardly moving, indicating the rights
yet to come down further. Our lovey show, so as
you're right, and that is the great game we're playing
at the moment. Of course, when Adrian says there's cuts
after cuts after cuts after cuts after cuts, and the
cash right is going to be four percent by the
middle of next year, if you're sitting there looking to
deal with the banks, you're saying, well, why am I

(44:45):
taking today's number when I know in October and no
end of December it's going to be very different, unless,
of course, you have to when your mortgage is up
and you got to lock something in. So these are
interesting times, but I'm starting to feel just a little
bit like things might might be starting to turn. I
won't ask the Prime Minister that, because of course he'll say, oh,
absolutely they are, and they started at the end of

(45:07):
last year.

Speaker 1 (45:07):
So Christopher luxem is next, your trusted source for news
and fews, the mic asking Breakfast with Bailey's real Estate,
your local experts across residential, commercial and rural news.

Speaker 2 (45:22):
Togs d been Jammy Nielsen back with us after right.
She got a tour coming and some new music to
tell you, but she's been recording it at Willie Nelson's
place no less twenty three minutes away from a Tuesday
morning Prime Minister Christopher Luxe willis very good morning to
you body. Mike brad Olsen's done some numbers on the
amount of productivity lost when we close the Harbor Bridge

(45:42):
because it's blowy, and he points out that there are
still people being paid seventy five thousand dollars a week
to work on an option to replace or replicate the bridge.
Is that true?

Speaker 19 (45:55):
I'm not aware of that. I know Samon Brown's talked
about a second crossing, which is important but it's part
of our broader infrastructure thematic, which is the saying, look,
you know, you get massive productivity gains out of actually
building stuff and getting roads built, and that's a good thing.
So yep, I understand the bridges at capacity. Yes, we
have to get a replacement in place, whether it's another bridge,
where it's another tunnel. You know, those are options that

(46:17):
I know something has got on this plan.

Speaker 14 (46:18):
To look through.

Speaker 2 (46:19):
Would it bother you if you're paying seventy five thousand
dollars a week to people looking into this.

Speaker 19 (46:25):
It's not something I'm aware of. But you know, nothing
is surprising me in government as to what people have
been working on and what they still continue to work on.
So we are working very hard to keep everyone very focused.
But I'm just not aware of that, Mike. To be honest,
I can't comment in much more.

Speaker 2 (46:37):
Dot com report that's out at eight thirty this morning
on banking. Have you seen it.

Speaker 19 (46:43):
I've got a sense of some of the highlights on it.
But our point is, as you know from before, is
that we want to see much more composition in the
vacuum market. There's high levels of profitability. I think you know,
I'm hoping there'll be some good things out of there
that we've got some good actions up and running it
a way around. But obviously Nicolo and Andrew Bailey and
we'll talk more to that later on when it's really available.

Speaker 2 (47:03):
So just give us the sense of this. Had they
said what you thought, I mean, I'm assuming they're saying
basically what they said in the preparatory report, will you
be doing something about it?

Speaker 19 (47:15):
Yes, absolutely, I mean, as you know, we've been wanting
to see this Commerce Commission report come back. As I
understand it, I haven't read the report. It's about three
hundred and ninety pages. I think at this point, I
know Nikola has and has got a good sense of
what we need to do and what we can respond
to immediately around it actually, which is important.

Speaker 14 (47:32):
But she'll talk to that.

Speaker 19 (47:33):
And then also we've got our Select Committee inquiries at
the Finance and Expenditure Committee and also the Rural Communities
Rural SERI Committee as well, because we are concerned about
banking in the rural sector as much as across the board.
So look, there's major challenges in the competition in the market,
there's high levels of profitability, and we want to make
sure it's a much better functioning banking sector, and we're
quite serious about it, and I think everyone understands how

(47:55):
serious we are about it.

Speaker 2 (47:57):
In a year's time, will you be able to materially
show owe me a different banking marketplace in this country
as a result of your actions, Well, I will.

Speaker 19 (48:06):
Hope we would have put some serious interventions in place
that will be leading to that. As to whether individual
firms want to know, more banking products are available, more
fintech products are available, what innovations available, more open banking,
all of those good things are happening. You know, we
want to be well on the track to making sure
that's exactly the case. So I just can't underscore that.
You know, I'm very serious about the banking sector happening

(48:26):
for a long time, concerned about it. I know Nicola
is the same, and we're looking at the Commerce Commission,
WI look at our inquiries and we'll do whatever we
need to do.

Speaker 2 (48:34):
Will Nikola talk about qu Bank and its shape and
form today.

Speaker 19 (48:39):
Well she might well talk to that, but again there's
three hundred and ninety pages and I'll let her go
through the recommendations and what we are responding to a
lot of it. You know, there's there's a lot of
regulatory stuff that's gone on the way, there's a you know,
there's a lot of open bankings, something we've talked about
for a long time, but there's no real progress on that.
You know, that's the ability for people to move banks
from this more competition and that people don't move. They're

(49:03):
pretty innurse and they get locked into their banks and
don't seem to do that. So what else do we
need to do to encourage that competition? But again, I'll
let her talk to that later on and stuff again.

Speaker 2 (49:11):
Have you and we've seen Westpact just yesterday, and we've
seen a couple of banks in the last week, and
we've seen the Reserve Bank Act. Have you gotten to
the bottom in your mind of why the Australian Bank
has a profit margin in the ones and the New
Zealand Bank in other words, the New Zealand branch of
the Australian Bank has a profit margin in the twos
And they argue it's all on it's all on Adrian

(49:31):
or he says it isn't.

Speaker 19 (49:32):
Do you have a capital or not? I don't, But
that is what I'm concerned about, and that's what I've
been concerned about for some time. It's the relative profitability
at a per capital level. If I look at the
relative prosibility of the banks of New Zealand compared to
other markets, I think we've got a problem. And it
doesn't know in years. We want strong banks from recessionary times,

(49:53):
but continued record profits is something that and lack of
competition is a serious problem. So you know, let's see
where we get to with the Commerce Commission today willing
that'll inform a lot of where the questioning goes, and
the Selek committees that will then drive a lot more
of the action and plan that we've got to make
sure we get a much more competitive, dynamic banking sector.

(50:13):
But yes, that's exactly like. That's one of the problems
I've observed is the subsidies of Australian banks and they
seem to have high margins.

Speaker 2 (50:19):
Correct, despite the shocking misrepresentation of the polling numbers last
night on the State broadcaster, there are thirty seven percent
of people in this country who don't think your race
relations policy is making any difference at all. Ten percent
think they're improving it. So forty seven plays forty six
does that reassure you as you sat in the rain
yesterday being yelled at that maybe things you might be

(50:40):
on the right track.

Speaker 19 (50:41):
Anyway, Well, look, I got to say that that poll
was no different from what I saw a year or
so ago under the previous administration as well. So the
bottom line, and I'm trying to communicate very strongly and
actually EWE leaders when I meet with them individually understand
this is that I'm more interested in, actually, what are
we going to do about the outcomes for Malori and
non Malori kids. When you look at housing, when you

(51:01):
look at education, when you look at healthcare, when you
look at incomes, all those conversations are what we need
to do. You know, we twelve percent of Maori kids'
at the sender they need to be at at the
benchmark going into high school on mathematics. We've got a problem,
you know, when we've got a district bush number of
Maori families and emergency housing and yet we're you know,

(51:21):
thankfully we've moved a thousand kids out of emergency housing
between April and July into a proper home because they
shouldn't be growing up on which I that's a good stuff.
That's improving outcomes when we're working on immunization rates Rounder
two with Mary, you.

Speaker 14 (51:33):
Know, that's that's what it's about.

Speaker 19 (51:35):
So I'm focused on outcomes, and you know I'm over
the you know, I don't think the last six years
was a fantastic time for Maori frankly, and the results
that we're achieved underived and.

Speaker 2 (51:44):
Writing at the what you were getting yelled at yesterday.
I look at who You've thrown them under the bus
and you've run them over. And I'm thinking to myself,
is even if he feels that way, what's what's the
point of that exchange? Where's that going?

Speaker 19 (51:57):
Well, I'm less thing I find it. I mean, it's
important for me that we continue to engage. We can
be respectful, we can agree.

Speaker 2 (52:05):
Is yelling at you in the rain engaging or is
it just yelling at you and the rain?

Speaker 19 (52:10):
Well, look, if it helps everyone feel better, that's great.
I'm just all about making sure that we keep the
joint on track and we get it sorted.

Speaker 15 (52:17):
And I just say, you know, a lot of the.

Speaker 19 (52:19):
Conversations I have with ere leaders are actually at that
next level of actually, well, what are we going to
do about housing and what are we doing about infrastructure?
What are we doing about health and education? So you
know that's where the conversations go and my private conversations
with many of them. Yep, there's frustration on the treaty principles.

Speaker 15 (52:35):
Bell get that.

Speaker 19 (52:37):
I think you know, we've been very clear about our
relative positions on all of that. But the real focus is,
you know, when eighty eight percent of kids are not
willing it to be on maths and mighty, that's a problem.

Speaker 2 (52:47):
When frankly, that trip to Sydney last week and the
big metro station opened yesterday, years overdue and billions of
dollars over mudget, what did you actually learn about building
stuff that we don't already know in the eath?

Speaker 19 (53:01):
Yeah, well we don't do it in a very system.

Speaker 9 (53:04):
You mean.

Speaker 19 (53:04):
One of the big things, to be honest is in
New South Wales might be at the premiere there in
twenty fourteen put in place something called Infrastructure New South
Wales and essentially what they do is they have a
bunch of people who go through and they build out
a proper thirty year pipeline, which is what Chris Bishop
and I've been talking about. But importantly they then can
prioritize those projects so if there is, and then the
benefit of that is that when the political cycles change,

(53:26):
you're not in the ridiculous situation that we've been in
New Zealand where you take a road as simple as
Cambridge to Piety and it's like on off, on off.
Actually it's happening. The project happens. It's a priority, and
they're clear about the relative priority. If there's more money
available on the system, they know what the next funding.
If there's less money in the system, they know what
they have to defund and reprioritize. But the idea is

(53:49):
that politics are taken out of infrastructure development and infrastructure's
long term and I would love to see that in
New Zealand and with our short political cycles and local government,
central government the reality years, you need to have some
of their mechanism and governance around that. And that has
worked really, really well, and so they know what they're
rolling into in the next fifteen to twenty projects across
the state, having done a bunch over the last ten

(54:12):
years or so as well.

Speaker 15 (54:13):
So yeah, that was really good.

Speaker 19 (54:15):
I took Shane Jones, I took Chris Basha, I took
some and Brown I also sat down with investors, hosted
an investor lunch as I always do. You know Australian
super funds and other funds that want to spend billions
of dollars and ideally in New Zealand. I want that
money coming into the country. And we talk about the
frustrations that they have, the good, the bad and the
ugly of investing in New Zealand and what either stops
them or or what of the impediments they are encountering.

(54:38):
And so you know, all of that was good for
my infrastructure ministers to get a feel of get out
of the bubble of New Zealand, see what good looks
like somewhere else in the world, and can we learn
from it and apply it back home.

Speaker 2 (54:49):
Good stuff. Appreciate time seeing ex Tuesday Christopher Leux, Prime
Minister thirteen.

Speaker 1 (54:53):
Two Cool Love Mike Hosking Breakers full show podcast on iHeartRadio.

Speaker 16 (54:59):
Powered Like News Talk.

Speaker 2 (55:00):
Mike his luck have been clear about the treaty principles.
We know they'll not support it, but why I don't
know why they oppose it because they think it's a
visible and it's not in their run, it's not in
their wheel house. It's enacts, and I admired David Seymour
for wanting to have the discussion, but I think he
to be Frank is on hiding to nothing because I
don't think the mood of the country is ready for
something as big and broad as that sort of discussion.

(55:24):
When you're dealing. I mean, you saw a little bit
of it yesterday on that Maria. It's you know, it's
just a lot of yelling and screaming going on. By
the way, just an ounce settings for the New Zealand
emissions trading scheme, which is a particular fascination to me,
mainly as an exercise in complete and uttering competence, given
they invented it. And if you don't understand the trading scheme,
it's worth looking up. Four times a year, you go

(55:45):
to the marketplace and you buy these credits if you're
a polluter, and you pay X number of dollars for
the credits, unless, of course, the government's mucking around with them,
and mucking around with the ets and mucking around with
the environment and climate policy generally, then what happens as
you go. I've got no idea what the government's doing. Therefore,
why would I bother buying credits, so you don't. And
so in the under the last government, you had a

(56:05):
whole year's worth of auctions, four of them, and not
a single credit was bought, not a single one of them.
So they raised absolutely none. They can raise a couple
of billion dollars a year in credits, but they don't. Anyway.
They've made some changes this morning. They'll retain the current
auction floor price, cost containment, reserve price, current reserve volumes.
But what they are doing is reducing the number of
units available between twenty twenty five and twenty twenty nine.

(56:26):
They're harving them basically from forty five million down to
twenty one. The theory being as there's if there's less supply,
the demand whatever demand there is will put the price
up or so goes the theory. So it'll be interesting
to see whether or not that comes to pass. Nine
to wait the my.

Speaker 1 (56:42):
Costing breakfast with the range Rover, thela Use toss b.

Speaker 2 (56:46):
From what I recall, Tokoo Morgan wasn't an effective Minister
of Parliament a moment, and the Sun was using taxpayer
money to buy ninety dollars Underwes good famous it was
under it was the type five. It was Tohen Ray
and Tukou Morgan and you know all those clowns. It
was just I found it ironic that the party he
once belonged to, cherished and loved is the party in
government now espousing the very policies he for reasons best

(57:07):
known to himself, suddenly opposes Mike. So Lux is now
showing his true colors by intending to have special emphasis
on Marray children when every New Zealand child should be
treated as equal. Mark my words. He's going to prove
just as bias his previous life. Colin, you misread that
he was talking about specifically married children this morning. They're
taking the same approach to all children. That's quite clear
in their policies and their statements so far. I think

(57:28):
you've overread that. Chris Lux and so refreshing after dead
beat to durn Mike, I can't luxe and see that
race relations are being driven down the plug hole by
incorrect interpretations of the treaty. He's driving to me to
quit national Well, that's the argument that David Seymour wants
to have in the treaty bill. I did wish and
I regret it now, but I don't have time, but
I did wish to ask him about the White Hagi

(57:49):
Tribunal's report into the Treaty Principal's Bill, which, as I
tried to point out yesterday, does not exist. So therefore
we're funding a tribute for advocacy purposes on behalf of Mary.
As far as I can work out, Mike, at last,
somebody's coming to the party. I'm an eighty year old
lifelong fan. The film is great. He talks to Paul Simon,
not me in Restless Dreams, which I think is a

(58:12):
must watch, But he writes, you need to know one
in Restless Dreams is sort of the lifetime biopic, the
definitive piece of work that's out now. It's been out
the film Festival and I was just looking for somebody
who'd seen it. He said, you need to know One.
It's three and a half hours long.

Speaker 15 (58:31):
I knew that.

Speaker 2 (58:31):
Actually that doesn't bother me. Two, it doesn't get to
South Africa and the Ladysmith Group until our three. I
don't know that that's a problem. Is as long as
it gets there. It's entirely from his perspective, including his
relationship with Art. The sound of the video are great
best in a cinema, not home video. Good piece of advice.
Five we saw yesterday and the need and at ten
am came out to a snowstorm that will be cleared
by now. It looks beautiful after a snowstorm.

Speaker 15 (58:52):
Six.

Speaker 2 (58:53):
I'm glad I saw it, but I won't go through
it again. Don well done. It's I think you've got
to be a dedicated fan, of which I am. In
three and a half hours, mind you, it's a life,
isn't it. It's and and if you're gonna do it,
do it properly. Otherwise why bother Otherwise it's a half
hour comedy and we've got too much of those going on,
so in Restless Dreams. So there's the first review I've
read unofficial review. The good reviews I've read and they're

(59:16):
all raving, but there's the first unofficial review, and I'll
take it, thank you very much. Speaking of music, Tammy
Neilson After the News, Who Views.

Speaker 10 (59:22):
Talk to.

Speaker 1 (59:27):
Setting the news agenda and digging into the issues. The
Mic Hosking Breakfast with our Veda, Retirement, Communities, Life Your Way,
News Togs d.

Speaker 10 (59:36):
B Honey, we want to raptor to the night. What
a squeeze your handey, we.

Speaker 2 (59:46):
Please be a seven past eight catch up time with
Tammy Neilson. She's been back at Willie Nelson studio recording
some new music. We also have news of the tour
Nielsen Meets Nelson. You like that she'll sing some of
the favorites one and Willi Nelson Song Book. Anyway, tim
Me Neilsen back, Well, this good morning, good morning. Good
to have you back on the program and touring the country.
And we'll talk about the tour and we'll talk about

(01:00:07):
the Willy Nelson connection. Uh, last time we talked obviously
the song it exploded and you'd met Willy and perform
with Willy and all of that sort of stuff. With
the passing of time, does it still sort of is
it still a pinch me thing for you?

Speaker 10 (01:00:22):
Absolutely?

Speaker 20 (01:00:23):
Like I still check my phone every once in a
while to see if it exists in the world and
kind of expect to wake up from this dream that
I did a due about with him.

Speaker 2 (01:00:36):
Fantastic And the new album. When's the new album drop?

Speaker 10 (01:00:40):
The new album Nielsen Sings Nelson is the sixth of September.

Speaker 2 (01:00:45):
And how does how does it work when you want
to sing do you go into the lounge at Willie's
house and go, hey, by the way, Willie, here's my idea.
How does that work.

Speaker 20 (01:00:56):
Well?

Speaker 10 (01:00:56):
In this case, it was actually a surprise for him.

Speaker 20 (01:00:59):
The whole reason I recorded the album was he was
going to be turning ninety last year and his big
milestone birthday, one of many and hopefully more to come.
And I actually conspired with his wife, Annie, and I said,
you know, we were coming back to Texas to their

(01:01:20):
ranch to play the festival again luck Reunion that's on
their ranch. And I said to her, is it okay
if we stay in extra few days? Would we be
able to use Willie's studio to record these songs for him?
And you know, because his studio wasn't really open to
the public anymore. It's just kind of his private place
where he records his vocals and trigger his guitar. And

(01:01:45):
she said yes, And we used his engineer, Steve Shady,
who's a legend, and we went in for like three
or four days and just recorded all our favorite Willie
Nelson songs. And I kind of joked with him when
I gave it to him, I'm like, is this like
giving you socks? Because because like everybody records his songs,

(01:02:09):
you know. I mean he's had like people right from
Aretha to God. Everybody has recorded a Willie Nelson song.
And I've just I guess added to the list of
his sock collection.

Speaker 2 (01:02:21):
Well, I take it. He didn't go, yes, it is.
But I mean what did he did he like what
he got? I mean, does he critique it? What does
he say?

Speaker 10 (01:02:30):
Well, it was really special.

Speaker 20 (01:02:32):
I got actually a text from his son Micah on
his birthday and he well, actually it was a year later,
on his ninety first, because then the vinyl existed, and
he said, on his birthday, we sat down and we
listened to your whole album and Micah said, he says,

(01:02:53):
it's a masterpiece. Yeah, and he said it was quite emotional.

Speaker 10 (01:03:00):
He said it was. He goes, I was surprised to
hear these songs.

Speaker 20 (01:03:06):
You know, I've heard them a million times, he sung
them a million times, even his son Micah has And
he said, you know, to hear always on my mind
in a way that caught me off guard and surprised
me was a really emotional experience. And so like that
was the highest praise. So if they love it, then

(01:03:27):
I you know, that's all I really need.

Speaker 2 (01:03:30):
Will he says, Nielsen sings the hell out of Nilsen.
Tammy's the real deal, and does my song's a great ana?
I mean, it doesn't get any better than that, doesn't
It doesn't.

Speaker 20 (01:03:40):
And when he first sent through his quote it was
a little bit less family oriented.

Speaker 10 (01:03:50):
There was a different word instead of hell.

Speaker 20 (01:03:52):
And I said, I said, Willie, I think we need
to make this a little more family friendly.

Speaker 10 (01:03:57):
They just they laughed, but.

Speaker 20 (01:03:59):
Yeah, I love it.

Speaker 2 (01:04:03):
So several questions out of the recording session. How do
you give them this so much material? How do you pick?
You know, when you say your your favorites, how do
you go about that?

Speaker 20 (01:04:12):
Honestly, that was the hardest part of the whole thing,
was was choosing songs that were favorites.

Speaker 10 (01:04:17):
And I tried to kind of go into it.

Speaker 20 (01:04:20):
I wanted him to be surprised and not hear just
the same old, you know, really really well known covers
that we all know. Obviously, songs like always on My
Mind are iconic, and so there are a couple of
those in there, but I kind of I wanted to
surprise him, and so I chose some really deep cuts,
ones that you don't hear often mixed with some of

(01:04:44):
the beloved ones, but even songs like I Never Cared
for You, which is possibly. I mean, you can't even
say what's your favorite Willy song, but one of my
all time favorite Willie songs.

Speaker 10 (01:04:57):
That's it.

Speaker 2 (01:04:57):
That's his wifier, that's any spiper does, yes.

Speaker 20 (01:05:00):
And that's why I chose it. I wanted to open
the album with that. And he plays it every show
because she loves it. And so yeah, that was kind
of my way of starting the album, like knowing it
it's her favorite song.

Speaker 10 (01:05:14):
And so it wasn't just about what.

Speaker 20 (01:05:17):
Are the most popular Willy songs. I kind of wanted
them to be special to them as well.

Speaker 2 (01:05:22):
So not only are you recording Willie's songs, You've got
Willy's endorsement, You're at Willy's place, in Willy's studio. That's
that's going to be still blowing you mine, doesn't it?

Speaker 20 (01:05:33):
Definitely? Like it was just incredible being in that studio.
You know, my brother was sitting in the chair that
Willy sits while he records in his little recording corner,
singing into his mic and getting to like visit you know,
his little recording like the Master's Vault, which is just

(01:05:54):
this really unassuming.

Speaker 10 (01:05:56):
Room you kind of walk in.

Speaker 20 (01:05:58):
It's like a storage room, and but the walls are
lined with masters of like Redheaded Stranger and just like
all these iconic reel to reels. And yeah, it felt very,
very dreamlike.

Speaker 10 (01:06:15):
For sure.

Speaker 2 (01:06:16):
I'm not surprised it doesn't hold on more than a
mine at Tommy Nielsen with Us thirteen past eight.

Speaker 1 (01:06:21):
by News Talk.

Speaker 2 (01:06:26):
Zippy News Talks sixteen past a Timmy Nielsen's with Us. Now,
now I got to ask Tommy, what's the place like,
I mean, describe it to me as in as in
the ranch you know in Texas where the you know,
where he does all is recording. I mean, is it
like a compound where they live.

Speaker 20 (01:06:41):
Yeah, well, I think it was back in the either
the late seventies or early eighties he bought this property.

Speaker 10 (01:06:48):
And originally it's a golf a golf course, and there
is a.

Speaker 20 (01:06:57):
The studio is kind of this renovated the golf club
like the country club, and so there's a bunch of
like little condos and then there's the whole golf course
and then there's this building which is and people still
golf on the golf course, and yeah, the studio is

(01:07:21):
it's definitely like I've heard stories of like the Glory Days,
you know, where it was like party Central.

Speaker 10 (01:07:28):
There was a pool there.

Speaker 20 (01:07:29):
There was this pool in the back and people would
record and then they go swimming and have a party.
And now like the pool is all like concreted over,
and I think they had too many issues of locals
like jumping in and using the pool and then it
was going to cause all these like liability so they Yeah,
but yeah, it's just kind of nuts to like walk

(01:07:52):
into this kind of unassuming golf country club kind of
vibe and it's very much just now aorage facility for
a lot of his things.

Speaker 1 (01:08:02):
And then.

Speaker 10 (01:08:04):
The studio itself is just basically used by him. So
it's it's really yeah, you're you're walking into an archive.

Speaker 2 (01:08:12):
Really, that's incredible you on those two reviews. I take it,
you know, tell some of these stories as well as
sing some songs, aren't you?

Speaker 10 (01:08:18):
Absolutely, I'll give you all the juice.

Speaker 2 (01:08:21):
What did you do interpretation wise for the songs and
and what what's the rule around that when you cover
something especially given the connection you have, do you do it?

Speaker 10 (01:08:30):
You know, to form?

Speaker 2 (01:08:31):
Do you twist it a bit?

Speaker 15 (01:08:32):
What do you do?

Speaker 20 (01:08:34):
I wanted to wanted the songs to be recognizable, but
also and and be you know, respectful and true to
the originals. But again, like I think, my whole you know,
mindset going into it was was to give him some
surprises and so it would be like maybe tweaking like
the feel or the tempo.

Speaker 10 (01:08:57):
But really I wanted to go in my.

Speaker 20 (01:08:59):
Original eye was just me and my brother acoustic, no
other instruments, like just honoring the song and the lyrics
and keep it really sparse. And the album is still
quite sparse, but we ended up my other brother came
and filmed everything while we were there, and he's also
a drummer. So it kind of also marked the first

(01:09:21):
time the three of us performed together since we were
in a family band when we were kids. It was
like twenty years, but it was just like you know,
riding a bike or slipping on an old pair of shoes.
We started playing and the songs that you hear are
literally like one or two takes and the first time
we've ever played them together. So that is also very

(01:09:46):
much kind of honoring the Nelson tradition. Willie always wrangles
in family, you know, whenever you even see his posters,
it's Willie Nelson and the family. And so so I
think that's also why we connect so deeply with them,
is incorporating family into things and and things not having

(01:10:09):
to be perfect.

Speaker 5 (01:10:10):
You know.

Speaker 20 (01:10:10):
I love that things are live and a little bit
rough and tumble and a little bit of rough around
the edges. And I think that is definitely Willie Nelson.
You know, he's not mister smooth and slick, you know,
you like that bit of bit of rugged, little bit
of danger in there.

Speaker 9 (01:10:30):
It is.

Speaker 2 (01:10:31):
It's such a special thing that you've got, and you
know that that's evolved between the two of you, and
it's brilliant. And so so the tour, the album, and
then before we come to it, you told me you've
got another album. So you've got the album which isn't
even out. So once that, you've got the album after
the one that's not even out, so you just like
you're just turning them out like dollar bills.

Speaker 10 (01:10:49):
Tammy, right, man, I wish I could turn dollar bills
out like that. I'm a musician. We don't do that.

Speaker 2 (01:11:00):
And lovely to catch up with you again. Good luck
with the album and good luck with the tour and
we'll talk again soon.

Speaker 10 (01:11:05):
Thanks mate.

Speaker 2 (01:11:06):
Fantastic Tommy Nielsen. The shows by the way Wellington, christ
Church and Auckland in October, So if you want to
go everywhere from the Opera House to the town Hall
to the Isaac Theater Royal in christ Church. Timmy Nielson
eight twenty one, The.

Speaker 1 (01:11:21):
Mic Asking Breakfast with Dailey's Real Estate News talks heavy.

Speaker 2 (01:11:26):
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Really.

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retailer for more information on the fabulous rain Drover Vlaski
twenty five. Mike Family Visit La twenty eleven. Stumble across
Willia and his son playing at the Canyon Club up
in the hills of Malibu. Small stand up corral type bar,
Danny de Vito, Rhea Perlman in the booth sitting behind us. Surreal, amazing, Ah,

(01:12:41):
what a story. We're standing by for the ComCom report
into banking. I'm assuming, as I refer to the draft
report that the final report this morning will say pretty
much what the draft report said. Competition overall is limited, sporadic,
and not sustained. Overall. We do not currently face strong
competition in this country? Are the four main players dominate
the market? Smaller pers do not provide meaningful competition? Was

(01:13:02):
their assessment of matters back in March of last year.
Was it March of last year or much of this year,
It doesn't matter. They lack scale fundamentally. This is where
Keywi Bank comes in. What will the government do with Kiwibank?
Will they bring in some sort of investment, scale it
to a point whereby they can be a genuine competitor
in the marketplace? Will they look to sell it? What

(01:13:24):
will they do? Regulation of the banking sector impede's competition?

Speaker 9 (01:13:28):
Was their.

Speaker 2 (01:13:30):
The result of their thinking recommends changes to some of
the regad This is where it gets a bit wooly.
Recommends changes to some of the regulations. Regulatory barriers to
entry an expansion. I don't know this's necessarily a barrier
to entering this country. There's a lot of banks are
they're just not particularly big or as successful as they
might be. Allegedly, we should be better supporting competition. That's

(01:13:52):
a broad statement we'd all agree with. How do you
go about it? As the key there's impediments to innovation
by FinTechs. We need to empower the consumer through regulation.
How do we do that? I mean, they would argue
open banking. I've done a bit of reading on open banking.
It's available in Australia. Open banking didn't really change the landscape.
The ability to swap easily from one bank to another
didn't dynamically change the market. So what they get and

(01:14:15):
what they say am going to be the one of
the stories of the day. And that report is about
to drop in a moment now. We will give you
the headlines right after the news, which is next. You're
a news talk zedb.

Speaker 1 (01:14:27):
You're trusted home for news, for entertain opinion and Mike
the Mike Hosking breakfast with the range Rover vi LA
designed to intrigue and use togs dB as.

Speaker 2 (01:14:38):
I suspected confirmation of what the Commerce Commission has been
saying about banking. The final report just out at eight
thirty Open banking. I wouldn't hold in a breath on that.
If you're holding your breath on that, But they've authorized
Payments New Zealand to carry on and do a bit
of negotiation over the next eighteen months. Payments to New
Zealand as a company that they've decided will sort of
organize this and sort something out. So that's the open

(01:14:59):
bank side of the equation. As far as the report
itself is concerned. The Bloker runs the commission, the chair
John Small. He says the time since the draft report
in March. It was March this year, right, So since
their draft report in March this year has only served
to reinforce our view that competition isn't working as it

(01:15:20):
should in the sector and key we consumers are missing
out as a result. We would expect to see if
we had well functioning competition, we would expect to see
more aggressive strategies to win customers from other banks. What
we see in New Zealand is that major banks have
little strategic differentiation and their growth targets focus on maintaining
market share and protecting margins and profitability. So everything they

(01:15:42):
saw in the draft report they have reiterated in the
final report. The government will speak to this later on
today and you heard Chrystal lux and earlier on. This
is a government for doing stuff and they will be
doing stuff as far as Kiwibank's concerned, and this is
probably the most specific in directing the government can do
so capitalizing the government. This is ComCom again. The government,

(01:16:03):
as Qwibank's owner, should consider what is necessary to make
Queybank a disruptive competitor, including how to provide it with
access to more capital. So Nikola Willis has been talking
extensively about that, and that ranges from everything from do
you get a major investor something like a superannuation fund
to throw money into it? Do you seal it off?

Speaker 18 (01:16:24):
What do you do?

Speaker 2 (01:16:25):
So we'll be looking forward with a great deal of
interest to what they've got to say about that later
in the day. But the conclusion could not be more clear.
We do not have a banking sector in this country
that functions as it should. Twenty one to.

Speaker 13 (01:16:38):
Nine International Correspondence with ends and eye Insurance, Peace of
mind for New Zealand business.

Speaker 2 (01:16:44):
Okay, down Rob little morning mate, Good morning to you mate.
We're particularly interested, of course, in this yacht disaster. Give
them as a New Zealander or a New Zealand born
citizen on there apparently, But what do you know from
your end what happened here?

Speaker 16 (01:16:58):
Well, it seems to have been you would know the
terminology better than me. You need u Kiwis but it
seems to have been moored off Porticello near Palermo, off
the coast of Sicily during what was an uncommonly rare
storm which hit the boat as it was mooreds masted,

(01:17:22):
was stapped in half. The yachts seem to lose all
balance and capsized. That's all we know at the moment,
and we know that there were twenty two people on
board that aside from the New Zealand, there were also
people from the US, Canada, Sri Lanka, Ireland, but primarily

(01:17:43):
it was Brits. And we know that there is certainly
one person who's died, but there are six who are missing.
And the one who's attracting the attention, of course, as
you would, is Mike Lynch, who is sometimes referred to
as Written's Bill Gates. He's a high tech entrepreneur who

(01:18:05):
has had his brushes with authority in the past, but
it's generally regarded as a very very cup of bloke
and indeed a very very successful entrepreneur. And his eighteen
year old daughter Hannah is also missing as well.

Speaker 2 (01:18:19):
Exactly all right, Well, we'll stide across Lily what happened?
And funny somebody text me about the supermoon the other day,
yesterday in fact, and I saw the moon and at
no point did I go, my god, that's big and blue.
So obviously it looks different in your part of the
world than it does here.

Speaker 16 (01:18:33):
No, it doesn't look blue. It looks a bit bigger.
It's very interesting, you know. I don't know what's happened
with the world, but we seem to be getting more
and more of these supermoons. I'm sure they're meant to
be sort of at irregular pace, but in the last
ten years it's red to oban newspaper not read that

(01:18:53):
there's a supermoon about to come and that that will
portend all sorts of ill omens, such as World War
armageddon and the coming of the Messiah. Mike, I hope
you're ready for that. This one is supposedly exceedingly rare
in that it is a blue supermoon, So a superman

(01:19:14):
we get three to four times a year when the
moon's that it's closest to Earth. But a blue moon
is the second full moon in a calendar months, which
happens obviously only four years, only once every four years,
so this is very very rare and it's due to
appear exactly now, Mike. So when we're finished, I'm going

(01:19:38):
to go outside and try to peer through the rain
which is pouring down and the clouds which are covering
the skies up here in the northeast of England, to
see if I can see this phenomena. There are loads
of other phenomena. August is a great month in the
Northern Hemisphere and particularly Britain for astronomical phenomena. We get

(01:19:58):
the play these asteroids coming down to Earth which are
easily seen and they just look like sort of rather
bad fireworks. And we also get, unusually for summer, the
Northern Lights, which were seen recently as far south as Lincolnshire.

Speaker 2 (01:20:19):
Wow. Actually, well I've got you Ron help me out here.
Story I'm reading over the weekend about this is the
new government and the pressure must be on given what
they did with Rwanda. Labor told to urgently get a grip.
Five hundred illegal migrants arrived from the English Channel in
one single day over the weekend. That surely can't continue.

Speaker 16 (01:20:40):
If we'll continue, it'll continue for the next four years.
I don't think that the Labor Party has the Labor
government has any plans whatsoever to actually cope with this
huge influx of people, the majority of which in faders
don't come on boats across from Calais, the majority coming
perfectly eagerly, six hundred and fifty thousand of them last year,

(01:21:04):
which is a huge problem with depresses wages, et cetera,
et cetera, causes social problems, etc. They don't seem to
have a plan for the vikrants. The idea before the
election was that they would was that they would try
to hunt down the traffickers. Well, we've been trying to
do that for fifteen years. Hasn't worked. So they certainly

(01:21:28):
have no other plan than Ruanda and this will continue,
I promise you for the next four to five years.

Speaker 2 (01:21:37):
Well we'll see you on Thursday, Roderck. I appreciate you
turned Rod a little out of the UK. It's sixteen
minutes away from nine gus quickly. The guy they're talking
about this morning, this guy Mike Lynch on the boat.
His story is an interesting one. He's Some of the
people on board that boat were celebrating his victory in
San Francisco in a court case which has been going
on for thirteen years. There were lawyers and capital of
fun all sorts of people like that on board New Zealand.

(01:22:00):
Link is a lawyer who's been practicing as a lawyer
for a number of years in that part of the world. Anyway,
this legal dispute was with HP, a name you will
be well aware of. He was found not guilty of
fraud thirteen year fight. As part of that, he's vowed
or did vow, to fight to reform Britain's extradition laws
because he was flown out of Britain to San Francisco

(01:22:21):
to face that particular that particular case. So he graduates
from Cambridge, starts a company called Autonomy. It's a software company,
sets it up in ninety six and that basically used
statistical analysis to help businesses manage their data. That grew rapidly.
Sold it to HP for seventeen billion dollars back in

(01:22:41):
twenty eleven. He then founds a thing called dark Trace,
which is a cybersecurity company, sets up a venture capital
firm called in Vote Capital that backs other startups. HP
and this is where it gets ugly. Having bought that
company for seventeen billion, wrote most of the value off
after acquiring it because they accused lynship exaggering the success
of the company. So in twenty twenty two, Lynch lost

(01:23:04):
an eight billion dollar fraud dispute against HP in the
British court, which later led to the US filing criminal
fraud chargers and they extradited him out. He went there,
fought that and won. So he was on that yacht.
Celebrated eight to forty.

Speaker 1 (01:23:19):
Five the Mike Asking Breakfast Full Show podcast on iHeartRadio
powered by News Talks AB.

Speaker 2 (01:23:27):
Actually, speaking of courts, I note that Bayer in America
has also found a judge they like. This is the
round Up case been going on for years, of course,
they found the Third US Circuit Court of Appeals in Philadelphia.
It's against a guy called Schaffner who's made a claim
along with many other thousands of people have made a
claim against you Roundup over the years. One hundred and
sixty five thousand charges. Roughly fifty four thousand reportedly remain.

(01:23:50):
They and we reported it on the time they reached
an eleven billion dollar settlement. Hope it would all go away.
But anyway, this guy Shafner was diagnosed with non Hodgkins
lamp fomer back in two thousand and six. They sued
Moncano in May of twenty nineteen. Anyway, they got the
judge they needed. The problem is that it goes against

(01:24:11):
a lot of other court cases who have argued differently.
So what Baya now want is for the Supreme Court
to involve themselves and you know, make ab sort of
a once and for all type rulings. So that'll be
interesting to follow, Mike, so interesting. Interested that people have
fallen for this, Mike Prime Minister says one thousand families
with kids moved out of motels into warm, dry homes. Really,

(01:24:32):
Minister Potucker and MSD don't know where they are. You
need to call this out, call it up for what
we had pot Tucker on the program last week. You
sound like you've been reading Radio New Zealand. They did
the same thing. It's like the reportage that they're doing
this morning on the Auckland crime crimes down thirty five percent.
They went out and found a person who doesn't think
that's true. Well, I mean, you know, whipped, what's the
point of that? Do you want to believe things or not?

(01:24:53):
And let me ask yourself this question. Ask yourself this
question with Potucker. So if you're unemployed and you're receiving
the job seeker, and then this afternoon you get off
at a job and you go get a job, and
you ring the you ring the wealthy departments say, don't
need any more. I'm starting on Monday in my new job.
Are they going to ask you where you're going, what
your addresses? Of course they're not. All they're going to
know is that you are no longer on the unemployment list.

(01:25:14):
When you leave the state's care, they don't follow you up.
Are you okay? You still need to me? It doesn't
work that way. So this idea that somehow people move
on with their life and the government needs to track
them as to where they are, what they're doing, and
where exactly they went is absurd. Just stop, pull back
and think about it for a moment. Nine minutes away
from nine.

Speaker 1 (01:25:35):
The my Hosking breakfast with a Vita Retirement Communities News togsad.

Speaker 2 (01:25:40):
Be Life update from the other day on Friday. The
person who suggested for my sink our sink, the dishwasher
tabs works a treat. Incredible, absolutely incredible, just like one
of those Oh my god, that's how successful it is.
That's brilliant. So what did you do with them? We
melt them in the water and you leave it overnight
and it cleans a set like you've never seen a

(01:26:00):
since clean before in your life. Just simple as that.
Or you put dishwashing powder and tabor a powder whatever
you like. Absolutely brilliant. Having said that, and I've not
seen it. This morning, a product did arrive that we
had ordered from Germany, so Germanic. We have no idea
what to do with it. But it's a small bottle
that costs a lot, so we I think used it sparingly.
That may well help as well. But the dishwasher tabs

(01:26:21):
actually work. Ridicio update Ridicio in the print and bed
shop the other day. Small Ridicio probably combined the shape
and size of, if you were lucky, two tennis balls,
So just a picture in your mind about two tennis balls.
So a tiny little lettuce. Twenty three dollars.

Speaker 3 (01:26:43):
You are golden mate, exactly.

Speaker 2 (01:26:45):
Why I'm growing up, my friend, twenty three dollars. A
Ridicio is ridicueleoss hawks Bay, Good morning. You're listening to
me on twelve seventy eight am.

Speaker 1 (01:26:59):
Like that.

Speaker 2 (01:27:00):
We're turning that off because we're sick of it. We're
turning it off and we're unplugging it and we're burning
it to the ground. No we're not. We're just apparently
we're taking a spanner to it and doing something too.
So we will be available to you on ninety point
three FM. As of about five minutes time, ninety point three.

Speaker 1 (01:27:17):
FM five to Night are trending now with the Chemist
Warehouse the Real House of Fragrances.

Speaker 2 (01:27:24):
I got another Apollo thirteen. If this is called Apollo
thirteen Survival, it uses the original footage, got some interviews
in there to tell the story about how they got
them all home safely, and.

Speaker 9 (01:27:37):
The astronaut to see, well, we were so curious, so
excited that we are like three school kids looking into
a candy story.

Speaker 1 (01:27:53):
Wedell, we have comment and we have left off.

Speaker 9 (01:28:01):
If the astronaut cannot make the correction in their playing
part the three Americans, we'll die. And I think all
of thirteen should be out of Blackguard at this time.

Speaker 2 (01:28:13):
Well to be hearing something, Joo one, will you please
answer it now? The problem is it's not out until
the fifth of September on Netflix, and I'm assuming Boeing
are looking up all the documentaries to work out how
to get them home. Isn't that what they're doing. I'm
assuming they've done that. They can't get that one. What

(01:28:36):
about the one Tom Hankstead did he get home? Okay,
poor people stuck there for god knows how long till
next year. Imagine being stuck there and you literally, I
know they can you don't use somebody else, get the
Russians to bring them home. Whatever, But I mean, how
embarrassing is that for Boeing? Anyway, Apollo thirteen was the
reason that Netflix came to be because read Hastings, he

(01:28:59):
was late return the DVD of Apollo thirteen and he
was embarrassed by the fees that you know, he'd have
to pay. So he thought there's got to be a
better way to do this, and so he didn't invented Netflix.
When was Reed Hastings on the program, I'm.

Speaker 3 (01:29:14):
Looking at you blankly because I have no recollection of that.

Speaker 2 (01:29:16):
Well, no, we definitely interviewed him. I remember, I want
to say seven years ago. But we'll check that out
and have a fun fact for you tomorrow morning. Anyway
back tomorrow from six as always, Happy days.

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

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