Full Show Podcast: 21 March 2025

Episode Transcript
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Speaker 1 (00:00):
To New Zealand's home for trusted news and views, the
Mic Hosking Breakfaitt with the range Rover, the la designed
to intrigue can use togs Head be an.

Speaker 2 (00:10):
You welcome today the GDP number. We celebrate the fact
that we are at long last out of recession. We
look at Napu's doctor problem, or ranks from the Commerce Commission.
Over your phone companies, We're going to talk classic cars
in Central Otargo this weekend. Tipicate you, Ray Kuper as
to Richard Arnold and Murray Olds Pod Friday morning. Welcome
to at seven past six. Now, if you accept that
the government of struggling in the polls, you may well

(00:31):
accept the general notion that part of what is driving
that is the lack of runs on the board perhaps
and impatience is frustrating some of us. We voted to
get rid of the last lot on the understanding that
things have been wrecked and destroyed and there was this
new lot that we're going to put it right. Trouble
has been as they've tried to explain things. Fiscal cliffs
were a lot worse than anticipated. And the problem with

(00:51):
too many voters is we vote and move on and
then when we re engage, we expect fixes to problems
that are more complex than we gave them credit for.
So this government has announced a lot, changed a lot,
but the simple to read runs on the board are
only starting to trickle through. The downturn on crime would
be one of them. I would have thought. The police
focus on running up a few people so we feel
safe on the streets. That's a tangible Are the targets

(01:12):
on emergency housing being met years ahead of schedule? That's another, surely,
and yesterday. The gross domestic product the GDP, surely one
of the most important of all. It is the economy,
and the economy is everything pays, the bills retires that
it forks out for. The program sets the mood of
the nation. If you are growing, and as it turns out,
I think, the good Lord we are. You are moving forward,
and moving forward is what gets popular governments and governments reelective.

(01:36):
Everyone as in the experts had the number at anywhere
between zero point three and zero point five percent, importantly,
of course, in the right direction, in the positive. So
the actual figure zero point seven is better than expected
and must be the best of use. I would have
thought for a country that has spent more time in
recession than virtually anyone, certainly anyone we compare ourselves to
anyone in the OECD. This cannot be overstated in terms

(01:57):
of importance. Zero point seven surely comes with the sense
that there is more where that came from. So maybe,
just maybe we can turn our backs on the dark
days or in our case, dark years, that have dragged
this country to places economically it's never really been. No,
it is not over, and yes there is much to do,
But such a decent dare I suggest better than expected
number will tell you the current government might have got

(02:19):
a grip on the worst of it and turn the tide.

Speaker 1 (02:24):
News of the world.

Speaker 2 (02:25):
In ninety seconds, Europeans are together again for another one
of their what shall we do about the war chats?
The Norwegians are throwing more at the Ukrainians and weapons
in aid.

Speaker 3 (02:34):
The trippening of Norwegian defense support to Ukraine is now
being immediately translated into support for artillery ammunition, for drone
capacity and also for investment in Ukraine's own industry.

Speaker 2 (02:49):
It probably won't surprise you have learned Zelensky isn't that
keen on Donald's idea that he hand over the power
plants for the Americans.

Speaker 4 (02:55):
All nuclear power plans belong to the people of Ukraine.
These are eight owned nuclear power plants Crimea, that is
Ukrainian Peninsula. Mister President Trump did not raise this issue.

Speaker 2 (03:09):
With me, Soaqia, still ribbling in the newfound global status
as an all round good guy and problem solver, has
issued more reassurance today.

Speaker 5 (03:17):
Those plans are focusing on keepping the sky safe, the
sea safe, and the borders safe and secure in Ukraine
and working with the Ukrainians. If there's a deal, it's
really important that we're able to react straight away.

Speaker 2 (03:30):
The meantime, SAQIA is Mike David Lemming, who is the
Foreign Secretary, has been having a word back home for
the business community and laying it on thick as to
just how different this new labor lot really is.

Speaker 6 (03:38):
The liberal assumptions of my youth have collapsed. We live
in a time of accelerating threats in which not just
our defense spending, but our whole socio economic model needs reshaping.

Speaker 2 (03:54):
The IOC as in the Olympics, they voted in a
new president. Wouldn't you know it's a female.

Speaker 7 (03:58):
As a nine year old girl, I never thought that
I would be standing up here one day. I will
lead this organization with so much pride, with the values
at the core, and I will make all of you very,
very proud.

Speaker 2 (04:14):
And one of BEF one's great Eddie Jordan, has died.
He was fighting prostate cancer.

Speaker 8 (04:17):
And Jordan was one of the biggest characters of Formula one,
absolutely irrepressible.

Speaker 9 (04:24):
Everybody loved him.

Speaker 8 (04:27):
It was such a strong character to have around that
there's a sensi humor.

Speaker 2 (04:31):
Conor McGregor speaking of sportspeople, he's gone all political these days.
The other day we had him in the White House,
you might remember, and that briefing room ranting away. Today
a twelve day deadline has been issued by him for
the Irish government. He wants Ireland to dismantle a human
trafficking racket, to port some migrants and have more springent
border control. If they don't, they will receive papers who
claimed signed by him and the White House. Also, he

(04:53):
hasn't ruled out running for president. That's of Ireland, so
I'm sure that Michael Higgins will be quaking him his boots.
That's news of the world. In ninety Central Bank action
for you this morning. Bank of England overnight unchanged four
point five percent of that part of the world. Bank
of Japan yesterday afternoon unchanged their cash rates only at
zero point five percent, but they're an unusual economy. Central
Bank in China they get a couple of rates. The
one year loan prime rate at three point one, five

(05:16):
year at three point six that's unchanged as well.

Speaker 1 (05:18):
Twelve past six, the Mike Asking Breakfast Full Show podcast
on iHeartRadio part My News talks eppy.

Speaker 2 (05:30):
More economic data for your four point one percent in Australia,
that's the unemployment rate. It will probably worry Ald and
Easy seeing he's zoning in on an election because employment
fell by fifty three thousand. The overall number didn't change,
but fewer people are working in the participation rates down.
But we'll talk to Mariy Eld's about that. Shortly fifteen
past six, a business blido jam I Well Andrew Keller

(05:52):
had good morning.

Speaker 10 (05:54):
Good morning mate.

Speaker 2 (05:54):
I'll take zero point seven any day of the week.

Speaker 11 (05:58):
Yeah, well, it does sound like you are luxuriating in
the glow of a growing economy. But do you think
the question is is everyone and it's it's not just
a facetious question because it sort of speaks to this
issue of sentiment because the economy turned around in the
last corps of last year.

Speaker 10 (06:16):
But you know, it's the penetration of that mic.

Speaker 11 (06:18):
You know, at the moment, the sort of resulting impact
is not widespread. I don't think so. The aggres sector
is definitely feeling it, aren't they. We know that, but
not broadly evidence. So, yeah, GDP grew by zero point
seven percent. That's production GDP in quarter four of twenty
twenty four. It does feel like that there is a
modicum of restraint in the celebrations, though, doesn't there You know,

(06:39):
it's if you look at the annual number, GDP was
still one point one percent lower over the twelve month period,
and I guess that gives you some indication of why
there might be that restraint. And on a mike, this
is the one I like. Per capita basis, GDP grew
by zero point four percent. How leiluljah, that hasn't happened
for quite a while. GDP per capital numbers above zero.

(07:02):
It's still four point four percent below the peak back
in twenty twenty two.

Speaker 10 (07:06):
But you made the point. The result was well ahead of.

Speaker 11 (07:08):
Both the central bank expectations and market expectations, so you know,
that's pretty good.

Speaker 10 (07:15):
What we need to.

Speaker 11 (07:15):
See now is the momentum and sustainability. So that's sort
of the rubb, isn't it. So you had two quarters
of pretty negative growth in quarter two and quarter three,
so they were really really ugly, So you're.

Speaker 10 (07:25):
Coming off quite a low base. Still a lot of
noise in the data.

Speaker 11 (07:29):
But look, Mike, I reckon, we need to just park
all of that stuff for a moment, Just park it
all and take a moment to celebrate that growth is
moving in the right direction, and we shall be pleased
about that. What contributed to the outcome, Look, there were
some technical factors in that there's a balancing item in
there that was zero point three percent. That's when you've
got a zero point seven percent outcome, that's almost half

(07:52):
of the GDPs and a balancing item. Services sector zero
point eight above expectations.

Speaker 10 (07:57):
Healthcare and social assistance.

Speaker 11 (07:59):
In particular, their professional services contracted a little bit. There's
a little bit of concern about that because you know,
you would have thought if the if the economy had momentum,
you'd start to see a lift in the professional services,
big jump and utilities, electricity, gas, water. That reverses previous
quarter fall Monetary policy implications I think might fairly limited.

(08:20):
Still plenty of spare capacity in the economy. Look, it's
I think you could say those people pointing towards a
two point seventy five percent ocr that might be a
little bit optimistic. Now I think you can bank on
three in a quarter and then below that, we'll just
have to wait and see. Currencies actually lower overnight slightly
lower HOLESO rates, but nothing significant. You got to remember, unfortunately,

(08:43):
GDP wasn't the only show in town Yesta because the
headline act arguably or ed ungraud was probably the Fed.
And when we make of that, look markets haven't really
markets are sort of fairly muted, really, I mean the
Fed left rates unchanged at at the seven o'clot yesterday morning.

Speaker 10 (08:58):
That was the expected outcome.

Speaker 11 (09:00):
Any interest I think was really going to be in
the sort of post press conference comments around economy, tariffs,
forward track of expected move and Fed funds rate look
in that there was a nod to the current situation
in the commentary. They said uncertainty in the economy has increased,
So maybe that does suggest some trepidation about what's happening.
They revised their growth expectations. We're sitting at two point

(09:24):
one for this year, now at one point seven, then
one point eight for.

Speaker 10 (09:28):
Twenty six twenty seven.

Speaker 11 (09:29):
That's sort of on long term averages, risking the lad
market and now high. In the post press conference, Powell
said a couple of interesting comments. So he said a
good part of their higher inflationary expectations comes from tariff's
but you take weaker growth and higher inflation together and
they sort of offset each.

Speaker 10 (09:48):
Other, they balance each other out.

Speaker 11 (09:50):
He said they really didn't know if the inflationary aspects
of tariff will be tempered or not. And he poured
a little bit of cold water on a recent lift
in inflationary expectations, said, that's an outline.

Speaker 10 (10:00):
That's the one off.

Speaker 11 (10:01):
Still talking about two cuts this year, so market's pretty stable.
Was still waiting to see this kind of a little
bit of a showdown between Powell and Trump, and.

Speaker 10 (10:10):
There was a little bit of that.

Speaker 11 (10:11):
Trump put out a social media post saying he wants
lower rates now, but at the moment that one is
still sort of just bubbling under the surface.

Speaker 2 (10:19):
Right O, numbers please, The Dow Jones is up sixty
two points.

Speaker 11 (10:23):
It's forty twenty twenty seven, so a very small rise there.

Speaker 10 (10:26):
The S and P five hundred down.

Speaker 11 (10:27):
Small, it's down five points as I look at it,
five sixty sixty nine, and the NASTAC also relatively unchanged,
down thirty one points seventeen seven hundred and twenty overnight.
Not much of a moving the foots to one hundred
down eight points, the nick A down quarter percent thirty
seven thousand, seven hundred and fifty one. The Shanghai Composit
lost half a percent three four eight.

Speaker 10 (10:48):
The Aussies, yes, they had a good day.

Speaker 11 (10:50):
They gained over one percent seven nine to one eight
and then the next fifty relatively unchanged, yes as well,
up eight points twelve fifty four. Kiwi doris a it
is weaker over night point five seven four four against
the US point nine one two Sissie point five two
nine four against the Euro, point four to four to
three against the pound eighty five point four to six

(11:11):
as the number against the Japanese end gold still strong
three thousand and thirty seven US dollars and Brent Crew
just being a little bit unruly seventy one dollars and
eighty six cents.

Speaker 10 (11:21):
See that. Carry on doing all right?

Speaker 2 (11:23):
No, we do not. You have a good week. Hen
we'll see you next week. Andrew Callaheaer, j Amiwealth dot
co dot in zast West in the business Boston Celtics
have been sold six point one billion. That's US. It's
about eight hundred million New Zealand dollars or billion New
Zealand dollars. Private equity firm have picked them up. A family.
They all it's all owned by families. It was the
the Grousbeck family. They hang around for a couple of years.
But six point one billion is what it's been sold for.

(11:44):
And I note the breakers have been sold here with
myle mate, Leon Grise and his brother. I didn't know
he had a brother, but Leon Gris is one of
the nicest New Zealanders you will ever meet. It hasn't
been officially announced, so we don't know anything. But apparently
that news is coming to us officially on Monday, so
we'll look forward to that. Six twenty one your reviews talk.

Speaker 1 (12:01):
Said the Mic Asking Breakfast Full Show podcast on iHeartRadio
powered by News.

Speaker 10 (12:12):
Talks at b Geez.

Speaker 2 (12:14):
You're not having it, Mike. You commentators are correct This
is one number. GDP per capita at zero point four
percent is not going to be felt by the majority.
Until twenty twenty eight, Mike, it was only above forecasts
because of the balancing item. People are getting carried away, Mike.
Is the re margin of error with the GDP numbers
because I'm not seeing it, sort of they can revise
at a later date, Mike, nothing is changing, or if so,
it's not noticeable. But it's still nine dollars plus. Let

(12:36):
me come back to that. You're miserable bastards. Zero point
seven is a very good number, and I'll explain more later.
Six twenty five.

Speaker 1 (12:43):
Trending now with Chemist Warehouse, the home of big brand ftamens.

Speaker 2 (12:48):
Now not only conspiracy theorists. I mean, what's going on here?
There's no smoking guns in the JFK files who follow
there's nothing there. So now they're reltigating the Emmanuel Macron
wife story. So just to recap that. In twenty twenty
one one, a far right French blogger made the original
claim that Brijitte and her brother ju Michid were actually
the same person. So this was bolted, advising to be

(13:08):
with a spiritual medium who agreed with them, so there
was that. Unfortunately that didn't go well because they got
taken to court we found guilty of slander. Anyway, it
was then picked up by US conspiracy lover Candas Owens.
You know Candas. She was the one who had a
little scrap hat here over her visa and was denied
of visa until the government stepped and now she has
a visa. Anyway, she's been big on the Brigitte is
a man since twenty twenty three. Now our old mate

(13:31):
Taka Carlson's decided to run with it.

Speaker 12 (13:35):
I mean President Francis wife was accused first by French
journalists and then by my friend. Candace Owens was one
of the nicest people I've ever met. Actually, she's very
muchmor She's incredible. But she comes out and she's like,
I will wager my professional credibility on the claim that
mccrone's waife is actually a man. And I was like,

(13:59):
I was like, ah, canis Owans?

Speaker 2 (14:01):
I love you, but I think this is too crazy.

Speaker 12 (14:03):
Yeah, and then it turns out she's right.

Speaker 2 (14:08):
My mind is plown, is she he? Anyways, more, we've
got some TikTok action from a woman called Gabby Garcia.

Speaker 13 (14:16):
The French president is married to a trans woman, and
not just any trans woman, but his own father, his father.

Speaker 14 (14:25):
I know that it sounds insane.

Speaker 2 (14:27):
It is insane because you're insane, and you don't have
to set that sort of madness to music. Why did
mad people set it all to music? Anyway, back to
the business of the GDP. I saw some research the
other day. I don't think it's been made public, but
we're in a funk as a nation post COVID. We're
in a big funk, and we're determined to be in
a funk, and we don't know how to get out
of our funk. And that sort of backs up what

(14:47):
I've just seen in those texts, because zero point seven
and zero point seven it is higher than everybody thought
it would be. It is better than everybody thought it
would be, and yet we still refuse to see it.
Explain that to mes.

Speaker 1 (15:01):
Setting me a gender and talking the big issues. The
Mike Hosking Breakfast with Bailey's real Estate altogether better across residential, commercial,
and rural news togs.

Speaker 2 (15:12):
Head by Hi Mike. So finally some positive GDP growth,
small but positive. Rome wasn't built in a day, so
it's a long road to recovery in our economy. It's
a pity that the likes of Craig Rennie, who's a
CTU union slash economist, didn't think it was positive. Well
he wouldn't, would he, Mike. I work in trade sales.
That's getting busier. Floors are busier, more traffic, it's already started.
Good Mike, I'm with you. The rising GDP for our
last quarter of twenty four was just about the highest

(15:34):
in the world, according to AI and Brian. As we
all know, AI can't possibly be wrong. Twenty three to seven.
Trump me the Fed with Richard Arnold in a couple
of moments, Actually can you handle? Buckle up? And you
hadn't even more good news the farming That is the
story of the year, as far as I can work out,
so Fonterra coming to the party with an eight percent
lift in its first half net profit dividends of twenty

(15:54):
two cents per share, and that midpoint at the farm gate,
of course, is sitting around ten bucks. A dairy insights consultant,
Steve Davison's with us on this STU morning.

Speaker 15 (16:02):
Good morning, Mike, how are you well?

Speaker 2 (16:04):
You're fizzing.

Speaker 15 (16:06):
Oh mate, I am fizzing, and I think the entire
industry is to be honest, you know, it's a pretty
uncommon results. He strong milk price and a strong dividend
in the same.

Speaker 2 (16:14):
Season, exactly, and we've got a forecast for the same
next year, which is highly unusual.

Speaker 15 (16:19):
Yeah, exactly, yeah, back and back. Good milk for rices
is not very common. You know, we send it in
the futures markets. How long it lasts up the question,
but you know, right, the wave while we've got.

Speaker 2 (16:29):
It exactly the money, just to put it into perspective
for people who don't follow the rural economy, this is
billions and it goes into the economy, It goes into
small town New Zealand, which it goes into the whole economy.
A country this size cannot help but be affected by
billions of dollars from the farming community, can it.

Speaker 15 (16:47):
No, you're exactly right. And that's you know, that's what
they say. Fifty cents of every dollar of the power
gets spent in communities, royal communities, all the New Zealand economy.
So New Zealand again rides the wave of the dairy
industry and the export channels that this opens up and
earns from the world. It's pretty impressive.

Speaker 2 (17:03):
And this result aspects that without sucking up to him
too much, because he's on the program again next week.
How much of this do you put down to Hurrale?
I mean, he seems if you go back to the
Spearing years, to the Hurrale years, this is a completely
different story. Is it him or is it just Luck?
I think it's him, but I.

Speaker 15 (17:20):
Think it's also the whole team too. Like you know,
to your point about not sticking up to Miles, he's done.
He has done very well. But and he'll say so
himself that the whole team is pointing in the same
direction too, which is pretty cool. You know that there's
some really interesting insights coming out of the co op
and they really understand where they went wrong in the past,
and they really understand what they need to do right
to keep this sort of performance going forward into the future,

(17:42):
not to mention, you know, keep their place in New
Zealand as the largest co op as well. You know,
they've got competition from alternative processes of New Zealander farmers
can can and are making the choices to change, and
so that's really important when they think about their results
and milk prices, you know, to stop that ebb and
flow of milk leaving the co op.

Speaker 2 (17:59):
Which brings me to my current conundrum, which if he
knows what he's doing, then I shouldn't be arguing against him.
But and I think this consumer thing he's looking at
the IPO or the trade sale, I think is a mistake.
Do you have a view on that?

Speaker 15 (18:10):
Yeah, I would have thought the same about a year
ago two and having talked to the team at Fonterra
about the same topic over the last year, I kind
of see their point around why the viewers to remove it.
It does continue to earn the less in terms of
return on capital. It is a bit of a complicated
arm of the cop and having the power to say,

(18:30):
you know what, actually when we're maybe not the best
I think it is a pretty brave call, but kind
of makes sense at the same time when there are
so good at ingredients and food service. You know, New
Zealand is a commodity and a large process, it makes
sense to let someone else take the brunt of it.

Speaker 2 (18:45):
So you changed your mind, you think so? And I
I mean a trade sale is different to an IPO
and IPO would be quite good for the market apart
from anything else. Would you ipo it or trade.

Speaker 15 (18:53):
Saler in my opinion on IPO, and there's a reason
for that too. I think the big emotional attachment for
kiwis and farmers around the mainland and the brands and whatnot.
An IPO will attract a lot of attention from New
Zealanders and right across the spectrum. And obviously it gives
the chance for current scyholders of Fonterra to use the

(19:14):
capital their return from that consumer sale to go and
invest in that IPO. So if you want to be
in there, you can, and if not, then do something
on your own farm with your own capital. But I
think it's a big opportunity for New Zealand to grow.
And if Fontira can get the milk supply agreements they've
talked about with his consumer businesses, that's a big win
for them as well. But I think a lot of
that all The other side of that consumer business conversation

(19:36):
is that, you know, we don't see a lot of
the businesses in the world that are under the consumer headline.
You Shri Lanka Australia. You know, if you asked the
average farmer in New Zealand. They wouldn't realize how much
milk fonterra collected and processed in Australia or Sri Lanka,
for example.

Speaker 2 (19:50):
No, good point. Do you follow the F one or
the Warriors? F one love one? So you'll be watching
the F one tonight over the Warriors.

Speaker 15 (19:58):
I mean, I'd love to say I've got By on
the screen, but it'll probably the Chinese gup first.

Speaker 2 (20:02):
Yeah, okay, all right' Stu. Nice to talk to you.
Appreciate it very much. I apparently have got a television
that can split screens. Sam tells me this. I don't
know how to do that, but tonight it's going to
be the night I'm going to have to look at
doing that. So that's my problem. I just wanted to
share that with Stu there for a moment. Steve Davison,
I like a style Diary insights consultant eighteen minutes away
from sevens. Like the actual population in India who are
middle class is smaller than some European or agency. This

(20:25):
is the misery I'm talking about. Stop moaning. I already
gave you these figures. You're correct, of course, So one
point two billion Indians. But and the people with the
actual dollars is one hundred and thirty one hundred and
forty million, so you're correct. But one hundred and twenty
hundred and thirty million people with a lot of dough
is still a market worth chasing.

Speaker 9 (20:43):
You can always find a gray lining to the cloud
if you want to. Can't.

Speaker 2 (20:47):
Yeah, you can.

Speaker 9 (20:47):
I mean, no matter how great things are, you'd always
say after it won't last.

Speaker 2 (20:52):
Do you want to talk about wine? I've got new
stats on wine this morning. Turn off now if you
don't want any more Good News two The.

Speaker 1 (21:01):
Mic Hosking Breakfast Full Show podcast on iHeartRadio powered by
News Talks AP.

Speaker 2 (21:08):
Mike, you far too positive after your sick day? Can
we have a good news Friday?

Speaker 16 (21:11):
Mike?

Speaker 2 (21:11):
Every Friday starts off my weekend with the Smart's not
a bad idea, Mike. You will have to split your
screen three ways, all whites playing Fiji, And as.

Speaker 9 (21:20):
We discussed during the break, it's sextually four ways because
this is the Chiefs game on tonight as well, so
two ways.

Speaker 2 (21:27):
It is six forty five.

Speaker 1 (21:30):
International Correspondence with ends and Eye Insurance, Peace of mind
for new Zealand Business right.

Speaker 2 (21:35):
Third Chardinald Morning, Trump be the feed. Where are we at?

Speaker 17 (21:40):
Well?

Speaker 8 (21:40):
Yeah, Trump is taking on the head of the fair
that you are central Bank and calling for lower interest rates.
Do the right thing, says Trump on your social media now.
And those interest rates have been sky high for months
and months, and now with more tariffs living if heed
shaars your own Powe has left interest rates unchanged and
says uncertainty is outing the US economic outlook. That is

(22:02):
not what Trump wants to hear. It's what this country's
conceimers don't want to hear either, says chem and Powell.
Inflation has started to move up now, we think partly
in response to tariffs, and there may be a delay
in further progress over the course of this year. You know,
in the past the White House has allowed the FED independence.

Speaker 10 (22:21):
That is.

Speaker 8 (22:23):
Not the Trump style, is it. He says that the
FED would be much better offering lower rates as US
tariff start to ease their way into the economy. Ease
many would suggest it's going to hit pretty hard with
all the Trump policy changes on trade, along with immigration
and so on. The EU will suggest delayed its first
round of tariff countermeasures until middle of April. So this

(22:45):
is a movable game. Trump has been saying that his
reciprocal tariff measures will start to buy it from the
beginning of April. Meantime, Ford and gm as stop piling
car production parts. We hear as the tariffs with Canada
and Mexico are supposed to take effect. Those car makers
say the industry is under threat, giving the risees that
they could face spiking the price for new vehicles to

(23:08):
unafford levels, unaffordable levels for everyone else. The meantime, credit
card interest rates just to note now at twenty two
point eight percent on average credit costs here insane.

Speaker 2 (23:18):
Now, I'll tell you what's interesting, because we're following this
as well. These Australian media laws are so big tech
they will see that I'm assuming as anti American.

Speaker 16 (23:28):
Yes.

Speaker 8 (23:28):
Absolutely, there's another area where Elin Musk has his finger
in the pie. Musk and the tech brows are pushing
Trump to punish Australia for this planned tech tax. Australia
framing this is a bid to encourage voluntary deals with
Australian media to support otty media content. Companies would be
called on to contribute ten to twenty percent of what
they do in the region on Australian content. So this

(23:50):
is spurring calls here for the expansion of the Trump
trade wars, perhaps targeting of the experts of beef, agriculture
and pharmaceuticals.

Speaker 2 (23:58):
As you suggest.

Speaker 8 (23:59):
New Zealand watches all this playing out.

Speaker 2 (24:01):
Yes, and very good to see you, mate. We'll catch
up Monday. Richard Arnold state, So that beef story is
massive because the American Farmers Association, of the one hundred
and seventy five thousand of them, are full on lobbying
Trump at the moment to slap massive tariffs on Australian beef.
Now I don't know enough about Australian beef, but I
do know about New Zealand beef, and I know that
we sell the Americans a tremendous amount. The American argument

(24:23):
is that the Australian seller heap of beef, but they
don't allow the US to bring the beef back into
Australia for a whole lot of what they call red
tape issues. So we'll talk to Marry about that as well.
But I need to get to someone, probably Nicola Willis.
Actually i'll ask her after seventh thirty whether that's going
to be potentially an issue for us. Also, just before
we leave the United States, the South Africans are lining
up to get to the United States and record number

(24:45):
seventy thousand people. So earlier on this year, Cyril Ramafosa,
who's as bad as any under the rest of them
who have been running that place since aparthey came to
an end, signed a deal a law allowing the state
to seize land without compensation provided it was quote unquote
in the public interest. Now Trump saw that and said

(25:06):
it's a scandal. And if Afrikaanas want to line up
and come to America, they're more than welcome. And are
they lining up? Seventy thousand of them have registered an interest.
So we'll watch that one really great deal of interest.
Let me come to the wine. Speaking of America, New
Zealand wine into America. What a story more shortly ten
to seven.

Speaker 1 (25:21):
The Mic Hosking Breakfast with the Range Rover Villa News.

Speaker 2 (25:25):
Togs tad been a fresh art of me this morning
on our fabulous Wine Industry. I was mentioned earlier on
this week, of course that the season looks really good,
and I got a lot of feedback on that the
season pretty much all over the country looks and there
we're impacking now ish and it looks to be a
sensational vintage. There's some stuff going to be left on
the vine in places like Marlborough because there are too
many contract growers, to many buying, growing too much bulk

(25:48):
wine unfortunately, but new numbers this morning recorded growth in
twenty twenty four, sixteenth consecutive year. This is to the States,
only nation to post a volume increased last year. So
of all the wine going into America from all the
different countries, only one country grew their market share, and
that was Us. So there's some good news for you.
And it's because it's premium priced and this is what

(26:09):
we like. So sales of wine fifteen bucks or more
a bottle is up fourteen point four percent. Below fifteen bucks,
it's only up zero point eight so people will pay
for quality, and this is the message we need to
get out. Our second highest ranked country now trailing France.
This is globally, so France is the world leader in
terms of quality wine. We come second White dominates. This

(26:31):
is continuing to be my cause for concern. Ninety five
percent of our shipments to the world is serving on bloc.
It's too much. We need to we need to do
something about it. We've been talking about it for years.
The industry now runs at two point one billion. That's
to the June year end of twenty four, two point
one billion. They were looking to crack two billion. They've
well and truly done it. This is brilliant exports to

(26:52):
the States thirty seven percent of the total exports exported
now generally to more than one hundred countries. It is
our sixth large just export group. The wonderful business of
the wine. I may just celebrate that news with a
glass or two myself tonight, And why don't you join
me five minutes away from seven.

Speaker 1 (27:10):
All the ins and the outs, it's the biz with
business favor. Take your business productivity to the next level.

Speaker 2 (27:17):
Now, then we come to and we will talk to
Nikola Willis about this later. Then we come to the
drag on the economy, the bit that hasn't come right,
and still we got a little bit to go. I
suspect if the forecasters are right, this is unemployment, this
is the jobs. We're about five points something and we
need to go apparently allegedly to five point five. Before
things turned I hope that Australias gave you that number
four point one gives you an indication of how materially

(27:40):
different we are on the job market. But then I
get to the supermarkets. I don't have time for this,
but I'll do it after report out this morning on
Australian supermarkets the most profitable in the world. So for
all your people who go, oh, I went to Queensland
and I bought seventeen pine apples for a dollar, It's bollocks.
It's not true. The supermarkets are is bad there as

(28:00):
they are here, if not worse. Anyway, where was I jobs?
So the recruiter Robert Half job security top of the
list for us. We're all worried about losing our jobs
at the moment. Eighty one percent of us are worried
about redundancies in the office this year. But if you
want a glass half full, what we've gone out and
done is upskill. Well some of us have. I said
to Sammy this morning, I said, Sammy, what have you
done to upskill? He goes, I've got your Pete Murray.

(28:23):
So we got the Pete Murray interview coming up, and
I said, who's Pete Murray? And then I did a
random test around the news room, went straight to the
font of all knowledge. He went straight to Andrew Ordison.
I said all this, I said, who's Pete Murray? And
he looked at me like, and you're really going to
Andrew and and I said, Pete Murray. He goes as
he does he play slip? I go, no, he doesn't,
he plays the guitar. Ninety four percent. So they're increasing

(28:45):
their employability to make sure it isn't them. Thirty seven
percent say they're prioritizing job security ahead of pay this year.
It's a good sign. Sixteen percent say they're prioritizing the salary. See,
they're the ones that can actually do the job. They're
the ones going up good at.

Speaker 10 (29:00):
What I do.

Speaker 2 (29:00):
I'll have the money, thanks. Forty seven percent so they
value which equally so pursuing training or certifications to improve
their marketability. Forty seven percent Passively looking for a new job.
That old trick. That's such a boring old question. Are
you looking for a new j Absolutely I am, I'm
looking for new I wouldn't be surprised if I quit

(29:23):
this year. How many times we heard that nonsense? Actively
looking for a new job twenty six percent. You run
out of music legally, and I took so long the
music ran out.

Speaker 9 (29:32):
I I'm just trying to do the Friday good news
Friday thing. Yeah, I'm sick of hearing now.

Speaker 2 (29:38):
Yes, sorry, okay, asking the manager about potential redundancies and
how their role may be impacted. Don't do that makes
you look weak. Twenty six percent are you going to
lay me off? Don't do that. Don't That's that's Mike's
advice for Friday morning. Don't don't be a sad sack
news for you.

Speaker 1 (29:55):
In a couple of moments, the breakfast show, Kiwi's Trust
to Stay in the Know, the mic hosting breakfast with
al Vida, Retirement Communities, Life your Way News togs'd.

Speaker 2 (30:06):
Be seven past seven. Maybe I'm repressed, but zero point
seven seemed a very good number to me. Were out
of recession, and the number was higher than any one forecast.
Growth was to be found, especially in transport, postal warehousing.
They had a two point four percent number for the
quarter alone. Charted Institute of Logistics and Transport Vice President
Paul Cosh is where there's Paul morning.

Speaker 18 (30:25):
In Mike, how are you very well?

Speaker 2 (30:26):
Are you feeling it, you're seeing it, Yeah, I have.

Speaker 18 (30:31):
It's very interesting. Actually, I was talking to one of
my friends who owns a company in Auckland and tower
On and I was only talking to him on Wednesday
and he said, Paul, you won't believe it. My business
has taken off in the last three months. Good and

(30:51):
he's actually opening a new warehouse Inara.

Speaker 17 (30:54):
Ah.

Speaker 2 (30:56):
Well, that was my next question. Do you think this
leads to something?

Speaker 18 (31:00):
Definitely? Definitely there's in talking to a lot of people
that I know in the industry, obviously they're definitely seeing
a lift, in some cases as much as ten percent.
I know the increase was only about two and a
half percent, as you alluded to, but there's some companies
that are doing way better than others.

Speaker 16 (31:21):
Obviously.

Speaker 2 (31:22):
Can you break that down? I mean, just for everybody
else who doesn't follow this, as go logistics and transport transport,
we understand who do you represent? I mean, what sort
of businesses are you dealing with?

Speaker 18 (31:32):
Well, we're dealing with any transport operator, any warehousing come
three pl four pl Our members are quite diverse. We
also talk to the ports. Our president is he works
for the Port of Auckland and I'm in towering on myself,

(31:54):
and my background is thirty to fifty years of transport
through mainly trucking industry. But yes, I can say quite
honestly that there's definitely been a lift. And I hear
about these things all the time because I obviously my
network is quite diverse. And yeah, it's very very interesting

(32:16):
and really very exciting.

Speaker 17 (32:18):
Good on.

Speaker 2 (32:19):
You're Paul glad to hear something positive. Don't text me.
He represents a lot of people. Paul Coosh, who's with
the Charted Institute of Logistics and Transport, more good news.
I mean it's past seven. By the way, the jobs
I was mentioning salary growth continues to be a bit
of an initia see jobs. We'll talk to Nicola Willis
about this after the half hour. SEAK advertised salary index
up zero point seven percent. That for three months to

(32:40):
Feb two point six on the year. The important thing
about two point six doesn't beat inflation, Yes it does.
Where do you want your jobs? Science and tech? I'll
give you the annualized numbers science and tech seven percent
pay increase. Now this is worrying government jobs six point three.
What's going on there? Because that's our money marketing cammunication

(33:00):
over five percent engineering four point three, So there's still
plenty of people doing nicely in the old wage packet department.

Speaker 17 (33:06):
Right.

Speaker 2 (33:06):
Other matters the doctor scrap in Napier. The plan going
forward is access to a nurse prescriber overnight telehealthcare. But
the problem here apparently is no doctor per se hasting
zd's twenty five minute drive away. Anyway, the Napia mayor
Kirston wise as will this Kurston, morning.

Speaker 13 (33:21):
To you, Good morning, Mike, how are you?

Speaker 2 (33:23):
I'm very well. Indeed, do you not think what the
government has done is acceptable?

Speaker 13 (33:28):
Spifly I'd like to say we do appreciate the decision
to keep the in person services with the enhanced nurse practitioners,
but really is disappointing if they haven't taken that next
step to ensure that we've got in person GPS on
site as well.

Speaker 2 (33:42):
Okay, so can you do anything about it or is
it over?

Speaker 13 (33:47):
We are going to continue to engage with the Minister
in government and the rally that was planned is going
to proceed on Sunday and we will be continuing to
fire for and it's not just this, It's not just
urgent overnight services. It's really the level of health services
in general that are being provided to the Napier community.

Speaker 2 (34:10):
Okay. Part of the original argument they said was lack
of demand anyway, So I mean, how many people are
standing there too in the morning wanting the script filled
or something to deal with.

Speaker 13 (34:20):
The lack of demand is largely driven by the level
of service that was being provided. So people weren't going
there because it was nurses who had a very limited
ability to actually assist them anyway. So that's where the
nurse practitioners will have an ability to provide a higher
level of care. And because the other part of the

(34:41):
equation is our ed in Hastings, which is already overloaded
and beyond capacity, so we don't want to put any
more pressure on there.

Speaker 2 (34:52):
Okay, Because I was going to say the twenty five
minutes from Napier, I mean, in a big city, twenty
five minutes is nothing. I can't go around the block
in twenty five minutes. That's just one of those things,
isn't it. So it's twenty five minutes really the end
of the world, or you're telling me that Hastings is
overfull anyway, So it's pointless.

Speaker 13 (35:06):
That's exactly right. You present in hasting ZD and you're
waiting six seven, eight hours and you know the other again,
the other part of this is we saw in cyclone
Gabrielle nature got completely cut off from the rest of
the country, including our hospital and acknowledging that events like
that don't happen every day. But at the same time,

(35:27):
it's a very real risk that we need to mitigate.

Speaker 2 (35:30):
Right. Do you realize you've got a poorse show on
this weekend at your place?

Speaker 7 (35:35):
I do.

Speaker 13 (35:36):
I was in our War Memorial Center yesterday admiring all
the porsches. My goodness, are absolutely incredible.

Speaker 2 (35:42):
That'll bring people in from far and wide, won't it.

Speaker 13 (35:45):
I understand there's about two hundred delegates attending, so yeah,
that's fantastic.

Speaker 2 (35:49):
It'll be brilliant. And what are you going to do
with the aquarium? That's the other thing I've been reading
about this week, and it's leaking. Is it too expensive
to keep going or not?

Speaker 13 (35:56):
We certainly cannot continue with the status quo, and that's
what we're told our community, and that's what we're talking
to them about. There's an number of options on the table,
including you know, see a reimagine or closure and what
we want to do, what's best for our ratepayers.

Speaker 2 (36:13):
Good on you, Christ, you have a good weekend. Appreciate
it very much. Kristin Wise, who is the NAPEI mayor
know me another host that can go that rogue that quickly.
Thirteen past seven, Asking but relevant question, speaking of cars,
we've got the air burned thing this weekend. They've got
some wait till you here, they've got some unbelievable cars
coming to Central Otago. Maybe people can avoid redundancy by

(36:36):
going to the office Monday and Friday. It's a very
good question, Mike, where were you yesterday? You don't sound sick.
Mind your own business. Thirteen past.

Speaker 1 (36:47):
The Hike, Asking Breakfast full show podcast on iHeartRadio powered
by News Talks at B.

Speaker 2 (36:53):
Get a lot of theo's, Mike, most of New Zealand
drives twenty five minutes to the doctor and waits up
to eight house. It's the classic provincial slash rurals urban
split in this country. And your expectations around delivery and
distance and time and stuff like that varies widely, of course.
Now sixteen past seven, Commo's Commission is going after the
telcos again, are their current concerners our ability or inability
to switch providers. According to this new study, more than

(37:16):
half of us who changed ran into an issue or two.
Telecommunications Forum CEO Paul Brislanes, whether it's Paul, very good
morning to you, good morning. Do they have a point
or no?

Speaker 19 (37:26):
Look, we're happy to have a look at it. But
their own findings say that only four or five percent
of customers were unhappy with what they got. Eighty five
percent were delighted with the process, And I think that's
pretty much a win.

Speaker 2 (37:39):
I do worry about the ComCom at the moment. They
seem obsessed with a lot of stuff. Are they fairly
obsessed with a lot of stuff or are they just
filling time?

Speaker 20 (37:48):
Well, look, I know where does any of it go?

Speaker 2 (37:51):
I mean, how many times have you heard them talk
about telcos and banks and supermarkets and that nothing seems
to change?

Speaker 19 (37:56):
Well, you know, this is one of my issues was
what's going on?

Speaker 7 (38:00):
Is that?

Speaker 19 (38:00):
I think if you asked the average key with what
are your biggest problems? You'd have groceries, You'd have the
price of fuel, cheese, dairy, you know, even down to rents,
down to how much you pay for. I don't think
Telco makes the top ten list. To be honest, It's
really not an issue most people think about. They seem
to be just getting along fine. We've got strong competition,

(38:23):
world class infrastructure with the Fiber to the home program,
and I think we just crack on and get stuck
into it.

Speaker 2 (38:30):
Is there a tune in telcos?

Speaker 17 (38:32):
There is?

Speaker 19 (38:33):
There is plenty of people switching back and forth. I mean,
look at some of the stories you've seen recently about
Spark losing customers or One losing customers. There are a
range of options out there, and people are quite happy
to make use of it. What we're not sure about
is why people don't move is what the Commission's asking

(38:54):
us to look at. Why are people staying where they are?
And I don't know about you, but I rarely think
about my phone bill are flat rate rates, so it's
not as if you're sitting there minding your gigabits like
you used to. You just get on and use it
and don't.

Speaker 10 (39:07):
Worry about it.

Speaker 2 (39:08):
Well, I think part of the surveyor one of the questions,
was that they did not want to change provider, even
if they could save money, because the process seemed too hard.
Now that's perception, and I can't really help your perception.

Speaker 17 (39:19):
Can I?

Speaker 7 (39:20):
No?

Speaker 19 (39:20):
No, And I think that's a good take on it, Mike.
I mean, this is a perception issue. It seems like
it would be too hard. If you're on a swap banks,
when you've got a mortgage, you need to get a
lawyer involved. You don't have to do any of that.
When you've got a phone that you want to move
to another provider, you ring up and you provide us
so I'd like to join you and they handle it
from there. It's actually really quite straightforward.

Speaker 2 (39:40):
Good stuff. Paul, have a good weekend. Appreciate at Paul
Brislyn to the communications for them. So one of the
things I bought you witnessed with earlier on in the
week was my problem with one New Zealand.

Speaker 9 (39:48):
So you immediately changed Telco's right, No, I didn't.

Speaker 2 (39:51):
They rang and apologized and it was entirely their problem,
which is highly unusual in my life. Normally it's I've
done something stupid, but it was an entirely their problem.
It was no fault of my own whatsoever. They apologize
profusely several times over have changed the system. The system
change didn't go well for them and it was all
on them. So I was very pleased by the way.

(40:13):
Just quickly, while we're talking about competition, just to save
you complaining about you know, I'm going to Australia because
everything's cheaper. Their routine headline this morning report won't be
out until later the day. Australia's supermarkets most profitable in
the world. This is the Australian Competition Consumer Commission released today.
Without more substantial rivals, the stranglehold enjoyed by Coles and

(40:35):
Woolworsts over the nation, shoppers will intensify, delivering them higher
profit margins they started last year. This investigation, run by
the federal government will worse thirty eight percent of the market.
Cole's twenty nine LD nine met cash in there as well.
They're ripping Australians off, left, right and center allegedly, so
all the people who think it's cheaper there not true.
Seven twenty.

Speaker 1 (40:56):
The Mike Asking Breakfast Full Show podcast on a radio
call it by the newstalksp.

Speaker 2 (41:04):
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(41:27):
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Speaker 1 (42:02):
Pasking.

Speaker 2 (42:02):
There's twenty four time now to mark the week, little
piece of news and current events that's as popular as
a capsule that actually works and can get you back
to earth. GDP seven or point seven, it's a bigger
under than they thought and an indication that we have
finally turned the corner. Are the FTA seven?

Speaker 17 (42:17):
Now?

Speaker 2 (42:17):
The media got a bit bogged down on the triviality
of days. Whether it's sixty or ninety or longer, it's
not the point. The point is that free trade is
good for New Zealand inc. Are the COVID loan deadline
free way? Sad sad sad reminder of why the zero
point seven and GDP has taken so long to get here?
Close to a billion dollars is still owed. What do
you reckon the chances of that being paid back? A huh?

(42:38):
Can we bad knock? Eight? In some senses? My hero
of the week net zero for Britain, she said, isn't
real without a level of economic carnage. She is not
prepared to put her country through rare honesty. You might
not like it, but it's true. Local Government New Zealand
four now this week it was the Western Bay of
Plenty quitting that organization. Have they worked out they might
have a problem. Speaking of councils, fung Or and their

(43:00):
fluoride meeting too. Read the spinoffs blow by blow account
of that meeting. It's gold, unless, of course you live
there and pay for it, then it's farcical. The JFK
files five ye, kind of the con of the week.
There is no smoking gun on a grassy nol or not.
Salary reviews seven Yes, growth as the general good economic

(43:22):
news of the week's salaries are still going up more
than inflation. In other words, we are winning ted Lasso
eight another series when they said there wasn't another series
if one seven you know the New Zealand Later half
a million of us watched that race. That would make
it the most watch program of the week, or very
close to it anyway. Grope seven Pickings Underway. I was in, Oh,

(43:43):
nice pickings underway. Quality of most areas is outstanding. Fontier
a half year profits seven. I mean more numbers that
show farming as golden factors, if not better than gold.
Are the wars three need dreadful week? The Trump call
to poot and that was a joke, and the ceasefire
felt bits in the Middle East. Gold actually gold eight
Gold is gold at over three thousand announced. That's troubled

(44:04):
times for you. Isn't it. And that is the week
copies on the website and it was a special marking
the week cake this week that was cut earlier this
week to mark the thirty eighth birthday of News Talk
zed B, where at least three people were heard to
say zed B doesn't look a day over twenty seven
Codskime Building Construction Wykatto Mike busy as we're hiring. Well,
that's very good here by the way, speaking of F one,

(44:24):
just quickly, cost of the bill so far in crashes,
Bearman leads the pack at one point seven million. That
crash in Melbourne last week. He whacked it badly, one
point seven million. Very expensive to fix. You know, if
you thought panel beating your car, you can get the
parts exactly. Try an F one car. Carlos one point
three to four million, Jack doing one point one to
eight Alonzo at nine hundred and ten thousand, but that's Naston.

(44:47):
They're cheaper. Bought a bought a letter seven hundred and
twenty five. Liam only cost three hundred thirty four thousand,
so it wasn't bad at all, just a small bumper.
Had your three hundred and thirty four thousand, and he
cried a lot. You see Helmet mark I said it
was embarrassing when he cried, whereas Christian Horner, who I
would have thought Philly hard said if your heart went
out to him. My heart went out to him. But

(45:08):
Helmet at eighty one years old ago, I think it
was the door to be fair.

Speaker 9 (45:13):
On Saturday, after Liam you didn't qualify for the second round.
He looked like he was trying very hard not to cry.

Speaker 2 (45:23):
It'd be devastating news for you in a couple of
moments than Nikola willis.

Speaker 1 (45:28):
Your source of breaking news, challenging opinion and honors. Back
the Mike Hosking breakfast with the range Rover, the la
designed to intrigue and use. Tom said, b.

Speaker 2 (45:40):
Mike seventh performs here, come on at least nine. I'll
take that. Actually, I think you're probably right. And a
number of you said why didn't I mean some Sam
routhe fair enough to He looked pretty good to me
twenty three minutes away from a to caddy after eight
being Friday. Of course, meantime, it was a solid piece
of good news iple anyway the government wanted and probably
needed it as well. We're out of recessing Q four
zero seven. Are we on our way to finance? Minister

(46:03):
Nikola will is with us. Very good morning to you.

Speaker 14 (46:05):
Good morning mate.

Speaker 2 (46:06):
I was surprised. I don't know if you read the
media or not, but there's a lot of misery around
the number. I think Radio and New Zealand said we
crawled out. I mean, zero point seven's a solid number.
If you annualize it out, it's almost three percent.

Speaker 14 (46:18):
It is solid and the numbers do not lie. Not
only was it a positive number, but it was a
far bigger number than anyone was predicting. So let's take
the good news when it comes. Mike, there's always someone
who can think of a nancy negative way of looking
at it, But actually, this is an economy that has
been bouncing along the bottom for a very long time,
and now we are turning the corner. Let's celebrate that

(46:41):
it's set to continue. Let's have a positive mindset.

Speaker 2 (46:44):
Well, that was my next question. Is it set to continue?
Q one? What's your sense of it? Manufacturing back into
negative consumers manufacturing expanding, sorry, consumer into negative though. Have
we got continued growth?

Speaker 14 (46:56):
Yes, those tail wines of tourism up doing well. Our
agricultural export is doing well. That is set to continue.
But we're also going to see households I think, getting
more of their household budget able to be spent because
they're going to be switching on to lower mortgage rates.
So that should continue to flow through into the economy.
And the consensus across the forecasters is growth accelerates this year,

(47:20):
which is exactly what we need because that's when people
are going to start feeling genuinely better off.

Speaker 2 (47:25):
Okay, are we reliant on too few industries? Mind you,
that's an age old question, I suppose, isn't it.

Speaker 14 (47:30):
No, I don't think so. I visited this week a
business in Toronga who are doing some of the best
automated vehicles in the world, drones and the like, exporting
around the world, being bought by international defense forces. They're
doing that from New Zealand. I went to Auckland University
yesterday where they are producing medical devices that are world

(47:51):
leading businesses that are growing.

Speaker 13 (47:53):
So.

Speaker 14 (47:54):
Yes, we've got dairy, Yes, we've got tourism. They're fantastic.
We shouldn't we shouldn't be sad about that. But we've
got other industries coming along as well.

Speaker 2 (48:02):
Our current account, though, which was a number also out
this week at six point two percent of GDP is bollocks.
When does that get addressed? And in your mind, what
is addressed?

Speaker 14 (48:12):
Well, it is getting better, So that's the first thing
I'd say there because of that growth and the tourism
numbers in the terms of trade being better, the prices
we're getting for our goods being better, that is improving.
The challenge we have is we do have a lot
of multinational business here is here, including banks, so their
funds do get repatriated back to those countries and so
that is always a challenge to our current account. But

(48:34):
what we want to see is export is exporting more
for higher prices, and actually that is set to continue.

Speaker 2 (48:41):
Yeah, it is. And so exports increased by almost let's
call it seven hundred million in the December quarter to
eighteen and a half billion. But our imports increased as well.
Are we importing too much stuff or do we just
not make enough stuff so therefore we have to import stuff.

Speaker 14 (48:57):
Well, we do have to import stuff because we can't
manufacture all of the sophisticated goods on New Zealand consumers want.
But what I'm really encouraged to see is that we
are selling more offshore too. That's the book I think
we really need to focus on, is that export lead
recovery having Our export is selling more products to more
markets at higher prices, and that is happening. Our flexible dollar,

(49:21):
our floating exchange rate is obviously helping with that. It's
ensuring that our exporters remain competitive. And look, I think
there's a positive story there.

Speaker 2 (49:30):
Okay, does the zero point seven on GDP give you
hope that the tail of the jobs which lags, of course,
might end a little bit or peak a little bit
sooner than we thought, or it is what it is.

Speaker 14 (49:43):
Well, we have seen the forecasts for unemployment coming off
a little bit since we came to government. As you've said,
employment is the last thing to recover when an economy
goes through a time like New Zealand has. The forecasts
are that it will peak halfway through the year and
then it's going to get better in the second half
of the year. That's consistent with what I'm seeing in

(50:03):
the economy, which is that we are seeing that many
firms are continuing to hire, and we are seeing that
they're still demand for a lot of workers across a
lot of industry. So I think with the stronger number
off the back of last year, we could get a
pretty positive impact for employment as well.

Speaker 2 (50:20):
I'm not sure this is in your wheelhouse, but I'm
reading yesterday in Australia, the Americans have got hold of
the Australian beef situation. So the Australians export a lot
of beef to America. We export a lot of beef
to America as well. The Americans are not happy with
the Australians because it's not reciprocated. They've come up with
a whole bunch of reasons why they can't import a
lot of American beef. Are we in that cart as
well or not?

Speaker 14 (50:41):
I don't think that we are. I want to be
diplomatic about other countries' trade disputes, but one thing New
Zealand has always done well as we play by the
rules internationally. We have low tariffs. We don't use non
tariff barriers to try and exclude people from our market,
and that position us well visa the US because we're

(51:02):
not doing naughty things, Mike, so we don't have anything
to get caught out on. And we also around the
world have a number of trading relationships where We're well respected.

Speaker 20 (51:13):
So while the.

Speaker 14 (51:13):
Global picture on trade isn't the one that I would prefer,
within it, New Zealand's well positioned.

Speaker 2 (51:19):
Okay, just one more thing. Your business of the Reserve Bank,
the amount of money retail banks have to put to
one side under the Adrian or regime, and your design
to do something about that, where are you at with that?

Speaker 14 (51:31):
Well, look, my observation is a simple one, which is
that everyone said when those higher kypteradequacy ratios were put
on that it could dampen GDP, restrict lending and add
to interest rates. So I think it's timely that the
Parliamentary Select Committee is now examining that and asking whether
that has happened. The Reserve Bank will be presenting to

(51:54):
that Select Committee next week, and I think it's very
important that they have their say about what's going on,
because of course, ultimately they have options about whether or
not they continue to do this ramp up that has
been the case in recent years.

Speaker 2 (52:07):
All right, appreciate you time you I have a good
weekend with Nikola Willis, who is the Finance Minister. Seventeen
minutes away from eight past guess on that current account
and I know it's a bit wonky, but it is
critically important. The current account is what we do with
the world. In other words, do we do more with
the world than they do with us? And it's the latter,
and that's always bad. So the current account deficit was
twenty six point four billion dollars. It is an improvement,

(52:28):
as Nikola Willis said, but not by much. It was
six point five percent of GDP, so that's gone down
to six point two percent. It should be zero or
the opposite. In other words, we should be selling more
to the world than we're importing, and we're not. We haven't,
we don't, and that's going to hold us back. So
the exports have increased again, all of which is good,

(52:48):
but so of the imports by half a billion dollars
to twenty billion versus the eighteen billion dollars worth that
we sold to the world, so that continues to be
a drag. Sixteen to two.

Speaker 1 (52:59):
The VIC Asking Breakfast, a full show podcast on iHeartRadio,
Power by the News talks at be Mike.

Speaker 2 (53:06):
The New Zealand dollar needs to devalue to solve all
these problems? Are you serious? How much would you like
it to devalue?

Speaker 18 (53:12):
Two?

Speaker 2 (53:13):
As it sits at forty four P. Would you like
it down at twelve P? I mean, he's serious. Finland's
the happiest country in the world. Again, I look at
Valterei Botas, He's the only thing I know, and he doesn't.
He seems at peace with himself. But apart from that,
I don't look at Valteri Botas and go, my word,
what a happy chap. Anyway, this is the UN sponsored

(53:36):
World Happiness Report, apparently yesterday or today's World Happiness Day,
which is once again another stupid thing the United Nations
has invented. They did this test on lost wallets and strangers,
as it turns out, are about twice as kind as
people think. So they measure trust. So how many wallets
they lose, how many got put back? And it was

(53:56):
twice as many as you want. And now here's the
really interesting thing from my point of view. Actually, I'll
give you that in a moment. So ten through nine,
you want to do ten through one as better than
one through ten? Ten Mexico first time top ten Mexico,
so happy they'll be that president. The way she took
on Trump on the tariffs, I reckon Luxembourg. Nine Israel

(54:17):
really really right now, Israel is the eighth happiest place
in the world. Honestly, imagine what would happen if the
war stop. That's straight to number one Norway, Costa Rica.
What do you reckon's going on there? Netherlands they'll be
the drugs. Sweden and the usual suspect Sweden, Iceland and

(54:39):
Mark Finland. They're all interchangeable. But ninety percent of Finns
sauna every week, and that is the key to happiness
in my book. If you sauna every week, not only
do you live longer, but it's a communal they communally sauna.
I don't favor that myself, and I don't.

Speaker 9 (54:57):
Like these ones that you see by the beach. You know,
they park by the beach.

Speaker 2 (55:00):
Yea very uncomon.

Speaker 9 (55:01):
And when I'm by the beach normally I'm quite hot.

Speaker 2 (55:04):
Yeah, you know, I want to get hot here, I
don't really want to exactly. And also I don't want
to be naked. Communally, I find that I.

Speaker 9 (55:11):
Don't even want to be sitting on something that somebody
else has been sitting on communally.

Speaker 2 (55:16):
So I sauna each day, literally every day at home,
by myself, and I find that to be good company,
but you cannot underestimate the health benefits of saunaing ten
minutes away from eight the.

Speaker 1 (55:29):
Mike Hosking Breakfast with Bailey's Real Estate News Talks, there'd be.

Speaker 2 (55:33):
Sim and Katy shortly seven away from a big weekend
in Central Otago, the inaugural Airboo Classic. This is an
narrow town. Hundreds of vintage and luxury cars are going
to be on show. Now the wind and boss and
the Airburn owner is Chris me and who's with us?
Chris morning, I much tell you, I'm very well. Indeed,
it feels to me like a touch of the Pebble Beaches.
Has it got that sort of vibe about it?

Speaker 16 (55:53):
Yeah, I'd say more good Wood than Pebble Beach. Prebble
Beach is a bit of gold buttons and cravats, But
and I think good woulds a bit more fun. So
it's sort of heading more towards the Goodwood style of event.
But it'll be it'll be a great thing for Christ
and a great thing from giving on.

Speaker 17 (56:06):
Well.

Speaker 2 (56:06):
I was going to say, is this about Airburn, which
of people don't know as a facility in its own right?
Is it about Airburn or the regional both.

Speaker 16 (56:15):
I think it's both much. I mean, if you put
it in context, and a year and a half ago
was a was a sheep paddict that no one came to.
And then we've got ten restaurants and bars and a
fantastic winery and we're doing about forty thousand meals a month,
So it's a it's a big step up from being
a place that no one visited. And we just want
fun events like this to encourage people to come and

(56:35):
just have a.

Speaker 20 (56:35):
Great weekend and the tourism.

Speaker 2 (56:37):
Are you seeing that in the region itself doesn't need
more events? I thought the place was pai.

Speaker 16 (56:43):
No, I think you've got you know, there's almost to
be a reason for people to come down here. I
think we're providing a good reason. And I think in
time we will be an event, you know, of a
caliber of a marathon or the usualand to and go,
and we'll get a lot of visitation from overseas as well.

Speaker 2 (56:57):
Good how many cars you got and what are they
tempt me? Are they all on you?

Speaker 16 (57:02):
So if you had asked me a week, yeah, we've
got about two hundred on display. But I think that's
climbing and probably closer to fifty. Now we've got everything
from you know, Lamborghini's, Bpaghetti's, lots of Ferraris, Asin Martin Monzroyce, mccarit, Lodgers.

Speaker 2 (57:18):
It's amazing, isn't it? Because I don't know if you're
a car guy, but New Zealand has per head of
population more cars than anyone else in the world apart
from America. And you hit the highway on any given
Sunday and the number of fantastic cars in people's garages
or collections is incredible.

Speaker 16 (57:35):
It's been extraordinary. All the cars have just come up
with woodwork, particularly in the Southland. A lot of them
stepped away in Barnes and verses and people have had
them for years and that they're itching for a chance
to hit them on display.

Speaker 2 (57:45):
Yeah, well you have a good time with them. Appreciate
your time. Chris mean, who's the Winter CEO and the
airburn owner? It is five minutes away from eight pasking.
When was the last time you used to blow a
back Champ? Jeez, don't take me on on a Friday, Pal.
I'm pretty sure I lived with it.

Speaker 9 (58:06):
Yeah, I sleep with it.

Speaker 2 (58:07):
When was the last time Piccaday Pickaday that ends with why, buddy,
every day is a blow of back? What time do
you get up to come exactly precisely what when?

Speaker 9 (58:17):
The question do you think Mike's neighbors hate him so much?

Speaker 2 (58:20):
Exactly?

Speaker 9 (58:21):
He will use it.

Speaker 2 (58:22):
The question you should the question you should have asked,
my friend is when was the last time you didn't
use a blower? Fact, that was the question Mike. Is
you're on a traditional or infrared? Very very good question.
It's traditional, So the infrared one. I can tell you.
I can bore your witness about this, the infrared, because
we looked into getting one of those. The infrared runs

(58:42):
at are much lower temperature. But what I didn't know
until I looked into it is it can only run
twenty degrees warmer than the room it's in. So you've
got to have a reasonably warm room to start with.
And if you don't have a reasonably warm room, and
it's it's it's sort of an inside out thing. Whereas
a traditional saunas you run it at like eighty ninety
degree very celsius, and that's hot, so you're sweat, whereas

(59:05):
the other one you don't sweat as much. You do
after a while. But it's an inside out sort of
cooking process the old infrared. But the infrared is much
easier because it's a sort of a plug and go.
You can get them.

Speaker 9 (59:15):
Indoors and stuff of a microwave situation.

Speaker 2 (59:18):
Not unlike a microrive that's correct.

Speaker 9 (59:19):
And so you go round around on a.

Speaker 2 (59:23):
You're not actually moving. It doesn't going when you're ready.
But they're much easier to do, and people people swear
by them that use them. But I was looking at
an infrared, but we decided to go with the traditional.

Speaker 9 (59:33):
That's a shame because after you'd had your cold shower,
you can get in there and put it on to frost.

Speaker 2 (59:38):
Y, use it a couple of moments, and then timid
cat you do the week you're on the mic Hosking
Breakfast Masie.

Speaker 1 (59:46):
The news and the news makers, the mic Hosking Breakfast
with Bailey's real Estate altogether better across residential, commercial and
rural news talks.

Speaker 17 (59:57):
He'd be.

Speaker 20 (01:00:00):
You hand me one, sir, hurts you back. You gave
us kickery, gave us snuff.

Speaker 1 (01:00:04):
You smashed the plate over my head, and I said,
fire to our bit.

Speaker 2 (01:00:09):
What a great bully's fan you me?

Speaker 20 (01:00:11):
One seats back.

Speaker 17 (01:00:12):
You gave her kickuy.

Speaker 2 (01:00:14):
I loved live album as well. I don't love live
albums anymore. You know, there aren't many live albums. I
don't know why, because not like everyone isn't touring. Why
don't they just stick a tape recorder on it and
just you know, put it out anyway. This is called
Symphony of the Lungs the BBC proms at the Royal
Albert Hall, Royal Overhol's beautiful, just across the road from
Kensington Palace, which isn't the palace. And I know that

(01:00:34):
because I went there last time I was in London
and I thought, this isn't the palace. This is misnamed
for a start. This is just a large house and
to be Frank nfberticularly the interest of one Kensington House anyway,
across the road from Royal Albert Lawrence and the Machine
James Buckley and his orchestra. This was recorded September last year.
Live recording, as you can hear, featured the standard album

(01:00:55):
in its entirety, but we also have in this one
B sides and some bonus tracks and boy what a
bones to do? Seventeen songs, one hour and twenty three
minutes worth of music.

Speaker 1 (01:01:07):
And that's a week interview with two degrees bringing smart
business solutions to the table.

Speaker 2 (01:01:12):
I was just going to say, that's the good thing
about live albums. They tend to interpret the songs and
you know, send them out and play a few riffs
and brakes and no, it's as to be down. Tim
Wilson's with us along with Kayhawks.

Speaker 21 (01:01:22):
Me morning, morning, morning, good morning, good morning, good morning.
Hey quick quick yeah, go okay, go ahead, you go, Tim.
I just want to know when you say a blow
a vac, is that like a leaf blower?

Speaker 10 (01:01:34):
Is that what you're talking about?

Speaker 2 (01:01:36):
I know, Tim, Welcome to till time. So what you've
got is the blower. Traditionally, you start your engine and
then you pull the trigger and it blows, blow, blow, blow,
blow blow. If you get a bigger version of that,
you can get a blower vac. So there's a little
knob or a handle on the side that you twist
and then it internally does something so it becomes a sucker.

Speaker 20 (01:02:00):
Oh I like that. Okay, I like that because I
hate blowers. Blowers are just blowers. Just make your problem
other people's problems. It's it's it's like running the bower
without a catcher.

Speaker 2 (01:02:11):
That's unless you get a multi mi. If you get
a multi mo, you can you can run the mile
or a multi mile without the catcher. To be fair,
but I think your your initial point about the blow
is true. Therefore, get yourself a blower back and if
you get the back, once you're on back, you'll never
look back. That's what they say, that's their strap one.
Once you're on the back, you'll never look back.

Speaker 17 (01:02:32):
Okay.

Speaker 22 (01:02:32):
I just wanted to quickly address the text that you
dismissed earlier who asked where you were yesterday and you
said none of your business. That I think is actually
a fair question because you take your responsibility to.

Speaker 20 (01:02:42):
Your audience very very seriously.

Speaker 22 (01:02:43):
And you hate not being there. Hence you never ever, ever, ever,
ever take a sick day, and so I think you
do are your audience an explanation, and you do. You
are able to say that you weren't feeling well yesterday.
And I was thinking by listening to you this morning
and actually asked, Sam, you're you're like a toddler. When
you go down, you go down like Saccahemmer's bounce back.

(01:03:04):
The bounce me is so intense and so quick, and
today I'm thinking, were you ever really sick yesterday?

Speaker 20 (01:03:10):
Because you sound a million bucks?

Speaker 2 (01:03:12):
I didn't know what to say because it could be
leading to a vastly bigger health problem, and so I'm
afraid of yes So yesterday could have been the small
seed of what could lead to an exploratory and ongoing
health crisis.

Speaker 20 (01:03:30):
Oh, don't think I haven't been in touch with the doctor.
It'll be exploratory, mark my word.

Speaker 16 (01:03:34):
Here we go.

Speaker 20 (01:03:37):
I think we're all talking in code and feeling very uncomfortable.

Speaker 2 (01:03:40):
Yeah. Now, the funny thing was Jason came and Jason
was the person I rang at three o'clock in the morning.
And so, just to give you an insight, part.

Speaker 9 (01:03:48):
Of he's not your boss anymore, rson.

Speaker 2 (01:03:50):
Jason's my friend. I ring my friends in times of crisis,
even though Jason isn't my boss, although he is still
my boss. But the new boss isn't isn't isn't established
enough yet to take the call. He's not your best
like Jason.

Speaker 9 (01:04:04):
Is the ultimate test, Like if he took the call,
then he's established ra.

Speaker 2 (01:04:08):
But it's how you handle the call, glean. It's not
just game hello, you know. And I think Will who's
the new boss, appears at this early stage to be
a relatively pleasant individual, but has not hasn't got the
runs on the board as yet.

Speaker 22 (01:04:21):
Do we know that he sleeps with his phone on?

Speaker 2 (01:04:23):
Like Jason question, do we do we know that he
doesn't ever take a day off?

Speaker 22 (01:04:28):
He doesn't exactly, So Jason knows that when you ring
at three o'clock it's serious because.

Speaker 2 (01:04:33):
What he said to me, he said, I've never heard
this is what he said this morning. I have never
heard more sincerity in your voice than I heard in
the wee small hours of yesterday morning. And what I
was doing the sincerity, and he refers to, is my
intense apology, because in my forty four years of radio,
sixteen seventeen years here, I've never rung him in the

(01:04:54):
early hours of the morning ever, except to abuse him.

Speaker 17 (01:04:58):
And so this you have it.

Speaker 9 (01:05:00):
Didn't you ring him wind wasn't working?

Speaker 2 (01:05:01):
Yeah, exactly, and looked at your name?

Speaker 20 (01:05:06):
He would have looked. He would have looked at your
name on the on the phone, go oh no. And
then he gets sincere husking, exactly that would have been
that would have done it.

Speaker 2 (01:05:15):
I've brung him many times to abuse him, only this
time to say, I am so sorry for waking you,
but I am unable to go to work. So that
was quite quite an emotional.

Speaker 13 (01:05:24):
But here's the thing.

Speaker 22 (01:05:25):
You you did attempt to go to work.

Speaker 2 (01:05:26):
You drove in Yeah I did. Oh my goodness, yeah
I did. I got, unfortunately, the beauty of being able
to drive to work at two thirty in the morning.
There's no one else on the road because I was
using all the lanes god, weaving and weaving away on
the motorway. Oh no, in my state. And I thought,
surely I don't need to be using all these three
lanes at what point? At what point? And this was

(01:05:46):
the problem on the motorway, because I'm on State Highway one,
multi lane highway, and I'm thinking, oh, this is not
going well. And then I thought, at what point do
I turn around to go home? But of course you've
got to pick an off rent, and the next off
rent was going to be the Northwest, which would take
me pretty much to I don't know tetany and so
I thought, I don't want to be on the Northwestern
because you can see that in the news. Hosking found

(01:06:07):
in Teta Rangy and disheveled stuff, and that's that doesn't
play well. So I got to the I got to
the off REMP before the Northwestern off ramp and did
the U tune. So then I went home and then
I rang him.

Speaker 16 (01:06:19):
So that was that.

Speaker 2 (01:06:20):
Anyway. Sorry, I've talked far too much. I need to
I need to go. You go, you go to the
break I need to say more, say more. Shortly thirteen
past oh The Mic.

Speaker 1 (01:06:35):
Asking Breakfast Full Show podcast on iHeartRadio powered by News
Talks It Balks.

Speaker 2 (01:06:42):
Sixteen past eight.

Speaker 1 (01:06:43):
The Weekend Review with two degrees bringing smart business solutions
to the table.

Speaker 2 (01:06:49):
Sorted Mike at gore bladder, get it out and it's
not so you were drunk? No, Mike, can you please
confirm you're not dying? Yes? OMG, did you have a
terminal diagnosis? No, Mike, if you not, No good came
out of your recent prostateic exam. Good luck with it now.
It all came out well, I.

Speaker 22 (01:07:05):
Think because you won't go to the doctor, so so
I don't want I.

Speaker 2 (01:07:10):
Had the doctor about three weeks ago, and you hated
the diagnosis because it was so positive.

Speaker 22 (01:07:14):
No, only because I veget and and and insisted you
did go to the doctor for a checkout, because you
hadn't been in ten years and you were turning sixty.
So I'll be insisting you go again next week after yesterday. Okay,
this is my this is my sole job in life
now is just to keep you alive?

Speaker 20 (01:07:30):
Can we can?

Speaker 23 (01:07:31):
We just know that probably when poor Holmes used to
come to work, he would always weave across three lanes
at the most.

Speaker 17 (01:07:36):
Well, that is not a big deal.

Speaker 2 (01:07:37):
So they hadn't seen before that exactly that is true.
I would account before what to makes You'll ask you
because you're the brightest among us. I think the word
the word less so, not less sue, less so means
what what's it mean?

Speaker 1 (01:07:53):
Oh?

Speaker 2 (01:07:54):
Oh well, okay, starting have you heard of.

Speaker 20 (01:07:57):
This is the surname of a Netflix series or something.

Speaker 2 (01:08:03):
But the word lasso. Have you heard of the word
and too? If you have? What's it mean?

Speaker 7 (01:08:07):
Is it?

Speaker 20 (01:08:08):
Is it sort of close to lassitude, which is a
sort of state of torpor?

Speaker 2 (01:08:12):
Is it close?

Speaker 22 (01:08:15):
I thought it was like a lass su like a
rope like I assume that's how you spell lasso.

Speaker 2 (01:08:22):
Lasso is la.

Speaker 22 (01:08:23):
But does it spelled lesso?

Speaker 2 (01:08:25):
Yeah? So this is the wordle from yesterday, and my my,
my problem was that we talked about the word and
she got it in two and so yesterday okay, well
the lasso was one before. But she but I said, oh,
let's so strange word. What's it mean? And she goes,
I don't know. I said, well, why why don't you know?
You're doing wordle? What's the point of wordle if you

(01:08:46):
don't know what the word means? And she goes, is
that the point of wordle? And I went, isn't that
the point of word? And she goes, no, no, it's
not the point of word. Put the word is to
get it in two. And I said, even if you
don't know what the word is. So she goes, oh yeah,
just guess and you get lucky sometimes.

Speaker 24 (01:08:58):
Oh what a waste of time?

Speaker 17 (01:08:59):
Wordle is?

Speaker 2 (01:09:00):
I thought it was supposed to expand your vocabulary.

Speaker 20 (01:09:03):
Well why do we call this rap the week? Why
don't we call this just counsel the marriage? Because that's
what this is?

Speaker 2 (01:09:08):
Your stuff that's come up, that's part of.

Speaker 17 (01:09:10):
It is what it is.

Speaker 22 (01:09:12):
Actually it's running me down needlessly.

Speaker 20 (01:09:15):
We were all, I gotta I got it, Well tell
us what less less?

Speaker 2 (01:09:19):
I don't know what it means I'm not on word.
You know, I know what each of the words were,
especially if I crushed them in two.

Speaker 20 (01:09:28):
What don't I feel your pain? Cap I feel your pain?

Speaker 10 (01:09:31):
Can we talk about it?

Speaker 23 (01:09:33):
It's a bit like it's a bit like Simmey and
Brown taking on Health New Zealand. Isn't it about you know,
not not secking to court business? And then suddenly it's
all about, oh my feelings about what Simeon Brown's been saying,
when in fact you know that they haven't been sicking
to court business.

Speaker 2 (01:09:46):
So count submissions into McDonald's is not Health New Zealand's job.
And I think he's one hundred percent right.

Speaker 20 (01:09:53):
Well, here's the deal.

Speaker 24 (01:09:54):
The actual submission it was eight pages and it mentioned
planetary health, lands, gape values, traffic and titidity and didn't
mention healthy eating once.

Speaker 2 (01:10:04):
Yeah, it's cut and gives me. It's a lot of
cut and past stuff. We were working out Sam Ruth,
who's this fifteen year old around the sub form inut.

Speaker 1 (01:10:12):
Of my eating?

Speaker 20 (01:10:13):
Well he's incredible.

Speaker 2 (01:10:14):
A correct me if I'm wrong, But he's running at
about fifteen one hundred meters in about fifteen seconds. So
the world class runs at nine to eight something like that. Right,
for one hundred, he's doing fifteen seconds per hundred, many
times over Matt's virtue. For most of it's virtually sprinting,
isn't it for fifteen hundred meters for a mile?

Speaker 20 (01:10:35):
Yeah, he's incredible. I was so happy for him too,
What a cool kid, And he didn't it was so lovely.
And how did he celebrate the drive through a burger king?

Speaker 17 (01:10:43):
Yeah?

Speaker 2 (01:10:43):
Well, when you're that fit, you can drive through anything,
can't you.

Speaker 23 (01:10:48):
I think healthy user, I'm probably going to see them
an eight page subscription submission.

Speaker 2 (01:10:53):
They probably are. Do you know how to split our
television screen, Caddy?

Speaker 22 (01:10:58):
I think I could figure it out better than I
could figure out some of the words on word or
But I'm going to give it a go because I
know it's going to be important to you. I actually
back you to watch the F one over the Warriors.

Speaker 2 (01:11:08):
I agree, be right, Yes, you're correct.

Speaker 17 (01:11:11):
You know me?

Speaker 2 (01:11:11):
Well I should have married you. The thing about that
is that this is the Warriors, you know, there's something
about the F one This year. Half a million people
watched that race last week, and that'll make it the
biggest show of the week on television. You can't argue
with that. The nation is gripped by the plight and
journey of Liam Lawson. I think that's a wonderful, wonderful thing.

Speaker 9 (01:11:30):
Hey, how do you just how do you spell lesson again?

Speaker 2 (01:11:33):
Question? Glynn? Well, less so on me?

Speaker 9 (01:11:37):
I thought it was l A s O.

Speaker 17 (01:11:38):
Oh, what is it?

Speaker 2 (01:11:41):
No, it doesn't start with an L.

Speaker 20 (01:11:42):
Yeah, l A s O two is so can we
can we find out what it means?

Speaker 2 (01:11:48):
Well, then then ted lasso, which is spelt the same way,
isn't he isn't the L A S s O? So
lasso less sue? Maybe it wasn't another word, Katie. Maybe
you just confused. Maybe it was lessu.

Speaker 16 (01:11:57):
No, No, I guess the.

Speaker 22 (01:11:59):
Word, but I can't tell you that it means let.
I thought I thought lasso would have another zero.

Speaker 2 (01:12:04):
I mean, there doesn't have any zeros. Just got a
couple of assas and an L and a and an o.
And so what you did is actually spell lassue thinking
it's another word.

Speaker 9 (01:12:14):
I do agree with you. I do agree with you
that that the hearthouse rules and scrabble is if you
can't define the word, you're not allowed to use that.

Speaker 2 (01:12:22):
Yeah, that's a classic rule.

Speaker 23 (01:12:24):
I think that's a good point. By the way, can
neither of you drive for then? I don't know if
you've been drinking at this hour of the morning, but
it's just a circus.

Speaker 2 (01:12:30):
Do you know I gave up drinking, Tim, I haven't
told you on that I've given up drinking. What Yeah, No,
be honest, okay on that bombshell. We'll end the segment
eight twenty two.

Speaker 1 (01:12:41):
The Mic Hosking Breakfast with a Vida Retirement Communities News
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Speaker 2 (01:12:46):
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problem a racing heart? If so, you should get at check.

(01:13:51):
Thank you for that advice. No, it wasn't actually funnily enough.
I did my blood freshy yesterday. My resting heart rate
was fifty seven, which I thought was quite good. It
wasn't as good. I was very low. Beyond Borgs was
forty four, and but I was never quite as good
as beyond borg nor as sweet. And the Swedes are
like that, aren't they They're so laid back? You go,
what's your resting heart regard you for so fifty seven

(01:14:13):
I thought it wasn't Beth, might be time for an MRI.
I Mike, did you play rugby?

Speaker 1 (01:14:18):
Well?

Speaker 2 (01:14:18):
I did, and that'll be the front row time for
the Surly under sevens. Because when I was prop for
the Surly Under sevens, I thought, hang on, something's not
right here.

Speaker 9 (01:14:26):
I'm just wondering if we've got a sort of a
a Munchausen syndrome by proxy situation here. Kate's determined that
you've got something wrong with you, isn't you?

Speaker 16 (01:14:33):
I think so?

Speaker 2 (01:14:34):
That's what I'd tell her all the time. I absolutely
love how you are with Kate. What an amazing relationship
you two have. Isn't that nice? Very nice of you
to say.

Speaker 17 (01:14:42):
And it's true. We're very blessed.

Speaker 2 (01:14:43):
I'm more blessed than too because I'm boxing. But we
all know that, don't we.

Speaker 1 (01:14:48):
The only report you need to start your day's on
my casting Breakfast with a Vita Retirement, Communities, Life Your Way, News, Togsdad.

Speaker 2 (01:14:57):
Be Mike super Heck for the if one Tragic, get
the F one app and watch law Sense in Car
and Team Radio. Yeah you can buy It's one hundred
and ninety nine dollars for a year for the whole season,
and it gives you team radio telemetrics. You can go
to any car at any time you like. It's quite cool.
Mike calling for a lower New Zealand dollars. Mad the

(01:15:19):
New Zealand dollars our share price for the rest of
the world. Yeah, I know. I don't know why people
do it, but they somehow think that, you know, the
cheaper we get somehow that improves things. Mike, Can I
get some of your wines now? No, you can't, Glenn,
not the Shardonnay though I don't have any. I don't
have any Shardonnay Rose. I don't have any Rose. Why

(01:15:39):
are we all paying for the plethora of TV and
radio ads for ACC? Why do they need to advertise
at all? It's not like we could choose competitors. It's
not a bad question. The answer is what they'll be
trying to do, because if you follow ACC at the
moment they're in dreadful financial trouble again, is they're trying
to reduce people falling over and injuring themselves. That the
problem that they see see in this country. I can

(01:16:01):
and I've got a couple of examples of lake that
I know personally. The way it's run, you can sort
of see from the individual circumstances I know about, you
can sort of see why they're trying to do what
they're doing. But the outworking of what they're doing practically
is just ridiculous. And the time that people spend on
acc is absurd. The amount of money that gets handed
out is absurd. But because of all of that, that's

(01:16:22):
why they'll be advertising, because they'll be trying to have you,
you know, front of mine when you're up a ladder,
not to fall off. Twenty two minutes away from nine.

Speaker 1 (01:16:29):
International Correspondence with ends and Eye Insurance Peace of mind
for New Zealand.

Speaker 2 (01:16:34):
Business's Boud Murray Old, good morning. Is he withers or
not today? Oh he's gone. It's blown up. It's gone
four point one percent for the unemployment rate. Employment falls
by fifty three thousand, So it's one of those ones.
It's not quite as good as it was, but the
four point one doesn't move, so that the importance of

(01:16:55):
that is. Of course, they're running into an election campaign,
so Albanez is going to have to defend the old
economy sixty six point eight percent is the participation rate.
That's the one I always look at, how many people
are actively in the market wanting to participate in jobs
versus sixty seven point three percent. That sixty seven was
a record. Anyway, murray you with us? Why don't we just.

Speaker 18 (01:17:17):
Wanting to think?

Speaker 17 (01:17:17):
My big ear knock out the line for split second,
so I do a publicize good morning?

Speaker 2 (01:17:22):
Do you now the four point one I'm just talking
about the unemployment rate when you look at it, you know,
juxtaposed against the election campaign, which is sort of in
at the moment. Do people feel good about the economy
or not?

Speaker 17 (01:17:33):
No, absolutely not, Mike, is still the overriding number one
issue for people. They go into the ballot box and
they are going to be thinking about the price of groceries,
the price of petrol, getting kids through school, and paying
off the mortgage because interest rates are crippling. There's no
doubt about that. And the fact that fifty thousand jobs

(01:17:53):
plus were lost from the economy in February is very disturbing.
I mean, you know, they it was balanced out because
a lot of people stop looking or actually retired, which
is interesting. We've got a big, a very big boomer
cohort that is retiring the year as the years unfold.
So we lost fifty two thousand, eight hundred jobs in February.

(01:18:15):
People just said sorry, we have to say goodbye. We
can't afford to keep you on. And this will contribute
to the answer as we leaded the election, which, as
you say, the election campaigns well and truly under waves.
Haven't got a date yet.

Speaker 2 (01:18:27):
Because I was watching Charmers give a speech. In fact,
a couple of things happened. There were people, you know,
protests and stuff like that. Anyway, the point being has
he's got a massive deficit and Albanese is out there
promising more support to go to the doctor. Do people
understand that one you don't have any money to a
government that offers you freebies to go to the doctor

(01:18:50):
is paid for by money you don't have, and it's
not the sign of a strong economy and they're just
trying to buy your vote or they don't care.

Speaker 17 (01:18:57):
Look, I think a bit of both, to be honest.
A lot of people just think, you know what, if
I could get the kids to the doctor, great, If
I can get government up with that, great. They don't
think beyond that. Other people say like you, yeah, we
have to borrow this money. But look, both sides are
involved in the spender film this crazy, you know, spending
cash we don't have in a desperate attempt to buy

(01:19:19):
votes ahead of the election. And that's as stark as
it can be. The government promises, as you say, cheaper
visits of the doctor, much cheaper medicines, earning the potential
wrath of Donald Trump and American drug manufacturers. Peter Dutton
falls into lockstep. They're exactly the same, promising on the

(01:19:40):
never never, promising on tech effectively, and no one seems
to care less.

Speaker 10 (01:19:45):
Weird.

Speaker 2 (01:19:45):
Just speaking of Dote three, this citizenship test to test
for your anti semitism? What literally do you ask somebody
and if you are anti Semitic, aren't you alerted to
the fact that that could be a bit of a
trick question and you might make up something?

Speaker 17 (01:20:00):
Oh mate, it's just a dog's breakfast. I mean, this
is classic Peter Dutton. I mean, and I know you
think I'll keep bagging him, but I mean, look, he
threw this out to appeal to the conservative voters of Australia.
It was a thought bubble, said anthy Albanezi. That were
blown up by lunchtime because because Peter Dutton's shadow Attorney

(01:20:20):
General came out and said it would only be an
absolute last resort. Well, I mean, what does it all mean.
It means nothing. There's no meat on that particular bone.
It's just a buddy old chicken bone. He's tossed out
there for the vast right wing populist to slaver over
as they contemplate. You know, a second or third lartee
at the Almond Latte as well at the very groovy

(01:20:42):
in a city cafes.

Speaker 2 (01:20:44):
Have you ever heard, by the way, you're still you're
a barista, a trained barrista I am, indeed, mate. Have
you ever heard of a coffee machine called a slayer?

Speaker 17 (01:20:53):
No?

Speaker 2 (01:20:54):
I have not look it up today. If you get
a chance, someone, No, No, I can't afford one. But
it's made the you know, you know Larch and Bali. Yes,
I did, right, So the Larch and Bali family make
them hand make them in Seattle and Washington, and they
are the most beautiful machine. And apparently that they are

(01:21:14):
the shes if you want to spend all your pension,
they are the machine to get. But they look them
up today and tell me it's not the greatest thing
you've ever seen. By the way, the polling I was
reading this week for the Independence, Now this is interesting.
I don't know you guys have had the debate yet.
So you get a minority government, the balance of powers
held by these independents. The polling says people want to
know which way they're going to side before they vote,

(01:21:36):
which is a not unreasonable request. We've been through it
because of course we have MMP. I don't think you have,
have you and most people came back seventy percent of
the various electorates said we want to know. Now, are
they going to cough and tell you or not?

Speaker 17 (01:21:50):
I wouldn't think so. I think the Independence you know,
we've had a bunch of them in the last federal parliament,
and there's a lot of them at state level two
now and you know, derisively dubbed the Teals because that
sort of greens but not quite green. The fact of
the matter is, you will and they're all women, and
if you diss these women, you do it your political

(01:22:12):
peril because they are a substantial block and chances are
they could get bigger at this election. And all this
talk about we need to know we're going to stand
bugger off, we'll tell you. And the same as Peter
Dutton says, I'm going to have nuclear power as part
of our Okay, tell us, tell us about it, tell
us how much is going to cost. When's it going
to happen. He's saying, hang on a second, bugger off,
I'll tell you. You know when it's time to drop

(01:22:35):
this policy. They're not going to tell. I mean, we
know which way they go. They're worried about every one
of these teals is worried about the environment, worried about
climate change, worried about cost of living for families, trying
to get to the doctor, trying to pay for the groceries.
They are the three big ticket items on their list.
That's what you're going to get if you boat them
back in.

Speaker 2 (01:22:54):
Yeah, you get your guess as though they live just
real quick this beef scrap because I think this may
or may not apply to us. So suddenly the American
farmer's eyeballing you guys. You sell a lot of beef
to America. They're not allowed to sell a lot of
beef to you, they argue, because of all your red
tape and the rules you keep inventing. Is that true?
And if it is true, are you in trouble teriff wise?

Speaker 17 (01:23:16):
Well, it could be, It could be, but it just depends.
You know, who's getting in Trump's ear about tariffs because
the pharmaceutical manufacturer a furious with Australia as well beef
manufacturers too. Australia says, we've got a clean beef industry here.
We don't need all the antibiotics you shove into American beef.
We don't want that here Australia. The federal government buys
up tons and tons and tons of American pharmaceuticals and

(01:23:38):
uses its government muscle to drive down the cost of
those of those pharmaceuticals, passes them on to Australian consumers
mike as subsidies subsidized medicines. So in both of these cases,
American beef produces American manufactur the manufacturer of American pharmaceuticals.
They are saying to Donald Trump's tariff people, listen, punish
Australia on this because Australia's denying US atys to high

(01:24:01):
priced medicines and access to beef. Well, Australia is not
going to blink and exactly the same as I mentioned
before Peter Dutton and lockstep with Anthony Alberinezi on this.
So we have to see which way the tariff mop flops.

Speaker 2 (01:24:13):
I must say, super interesting. Made always a pleasure to
have you on the program.

Speaker 16 (01:24:16):
So can you find it?

Speaker 2 (01:24:17):
Murray Olds Across the Tasman fourteen to.

Speaker 1 (01:24:19):
Two, The Mic Asking Breakfast Full Show podcast on iHeartRadio
powered by News Talks at b.

Speaker 2 (01:24:27):
HI Mike nineteen thousand dollars for slayers a bit much
for me, will meet too, and they can be more
than nineteen.

Speaker 9 (01:24:33):
That's a cheap one. The one I'm looking at is
twenty thousand euro.

Speaker 2 (01:24:36):
You can you can spend thirty without even worrying about it.
It's just a there, aren't they a beautiful machine?

Speaker 7 (01:24:42):
No?

Speaker 2 (01:24:42):
Do you get on think so?

Speaker 17 (01:24:43):
No?

Speaker 9 (01:24:44):
It looks like something that was made in the sixth
form metal work class.

Speaker 2 (01:24:47):
Well that's I take that as positive. Because you're you're
anti can, You're anti whatever the zeitgeisters, So just look
at it. Tell me I reckon, I reckon.

Speaker 9 (01:24:54):
If you got I would take my Brevel Virtuo n
Espresso machine over that any day of the week. The speech,
I don't even have the bench space for it for
a start, it's huge.

Speaker 2 (01:25:03):
Well some of them, are you? Just the speeds to
coffee machine is the bomb, Mike, that's a Van der
Veston Slayers are stunning machines. But the breakdowns are constant,
are they?

Speaker 17 (01:25:13):
Yeah?

Speaker 9 (01:25:13):
See, that'd be right. And then once again you can't
get the pats. You've been there, haven't you.

Speaker 2 (01:25:18):
I've been there. I have been there. It's the bespoke business.
By the way, quick podcast update for you. I stumbled
upon a thing called high Performance. The podcast called High Performance.
There's a bloke I've never heard of. There's a couple
of them, but this particular one who was doing the
podcast I've never heard of, but apparently worked an f
one for a while as a reporter. He's a Journalist's
gone on to do a podcast, haven't they all? Anyway?

(01:25:38):
He was talking to Clear Williams, who is the daughter
of Frank Frank a legend and the Williams racing team
of course, And I won't bore you with the story,
but she had to sell the company. They ran out
of road, ran out of money, ran out of everything,
and she had to sell the company and the private
equity company bought it. They put in James Valves. They're
now a moderately successful side that's on the improve and

(01:25:58):
may well turn out to be fantastic one day. But
she tells a really interesting story about where she came from,
the upbringing, the way that Frank ran business, ran racing,
ran the family, all of that sort of thing. She's
still in therapy, which is I'm always interested in. It
was the business of letting the family down, trying to
keep the company alive, keep the Williams name alive, and

(01:26:21):
the letting go. And this happened a couple of years ago.
This is not recently what was raletively recent, but she's
still in therapy on how that affected her. So it's
if you got time over the weekend between the F
one and the Warriors and whatever else you're doing trying
to split your television screen, then you might want to
watch that. High Performance is the name of the podcast

(01:26:42):
nine to nine.

Speaker 1 (01:26:43):
A make Hosking Breakfast with the Range Rover Villain News.

Speaker 2 (01:26:47):
Togs Head been just in the Warehouse Group half year
result for the six months ending January. Group sales down
one point six, same source tales down one point one,
profit margin thirty two point five percent down one hundred
and eighty basis points cost of doing business down, so
that we pleased about that. I suppose two point eight
percent down. Operating profit nineteen point five million. That's compared
with the forty three million dollar loss. So I suppose

(01:27:08):
that's a turnaround story. Net profit after tax eleven point
eight million, up from the reported net loss of twenty
three point seven previously. The chair who's Dame Joan Withers,
who is one of the world's nicest people. Your group
has taking decisive action to strength in its position, starting
to see meaningful progress. So that's good. So that's the
Warehouse's story for this Friday morning, five minutes away from nine.

Speaker 1 (01:27:29):
Trending now with Chemist Wells keeping Kiwi's healthy all year round.

Speaker 2 (01:27:34):
It's from Fox. Jesse Waters, who is on in the
afternoon our time, recently overtook Cahannity as the most popular
host on Fox, which is interesting. He's thees issued as
five rules for men. It was in response to Tim Waltz,
who said the Republicans were obsessed with his masculinity.

Speaker 20 (01:27:49):
I have rules for men. They're just funny.

Speaker 10 (01:27:51):
They're not that serious, Like you don't eat soup.

Speaker 1 (01:27:53):
In public.

Speaker 20 (01:27:54):
You don't cross your legs, and you don't drink from
a straw.

Speaker 19 (01:27:58):
And one of the reasons you don't drink from astros
because the way your lips purse it's very effeminate.

Speaker 17 (01:28:04):
And you are.

Speaker 20 (01:28:05):
His excuse was, well, I was drinking a milkshake.

Speaker 16 (01:28:08):
Again, you shouldn't be drinking a milkshake milkshakes.

Speaker 1 (01:28:12):
Or for kids.

Speaker 2 (01:28:15):
There's fifth one is the crossing the legs.

Speaker 17 (01:28:19):
I do well.

Speaker 2 (01:28:20):
The rest I go along with his fifth one is
you don't weigh men. Don't weigh with two hands, which
I would have thought goes without saying reaction. There's a
sixth rule, don't let down a girl's tires so she
has to get in your car. He did that, apparently,
what has did that so he could offer his now

(01:28:42):
wife a ride home from work so he could talk
to her for the first time.

Speaker 9 (01:28:47):
Nothing creepy about that.

Speaker 2 (01:28:48):
Yeah, see, it's creepy until he ends up marrying her.
So it's a happy lever after story, isn't it. Because
he was so shy he couldn't talk to her for
saying ah. But then the initial I let the girls
tire down so she could hop in the car is
like really okay. Anyway. They were also making fun of
the way Tim Walls holds his gun. He doesn't hold

(01:29:09):
his gun properly. He sort of cradles his gun like
he's almost never held a gun in his life before.
Because everyone on Fox, of course is a hunter and
owns a thousand guns each, so they've handled plenty of
weaponry and Tim wolves as a pussy.

Speaker 20 (01:29:23):
Right.

Speaker 2 (01:29:23):
That's us for the week. How excited are we about Liam?
I'm excited unchanged side for the warriors too, by the way,
so that's exciting too. So that's maybe a couple of wins.
Who knows you have a good weekend. We'll seehim Monday.
Happy Days.

Speaker 1 (01:29:42):
For more from the Mic Asking Breakfast, listen live to
news talks it'd be from six am weekdays, or follow
the podcast on iHeartRadio.

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