Episode Transcript
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Speaker 1 (00:09):
You're listening to a podcast from News Talks EDB. Follow
this and our wide range of podcasts now on iHeartRadio, Rewrap.
Speaker 2 (00:25):
Okay there and welcome to the Rewrap for Monday.
Speaker 3 (00:28):
All the best, but it's from the mic Classing Breakfast
on News Talks EDB and a sillier package I Am
Glenn Hart and today debt do debt problems start at university?
Maybe we've got an AI versus.
Speaker 2 (00:48):
A one story how Matt Heath got on at.
Speaker 3 (00:53):
Coldplay the second time around, about how he even got
the other second time around.
Speaker 2 (00:58):
And the award results.
Speaker 3 (01:00):
You've been waiting for New Zealand's National Airport Awards. But
before any of that, speaking of flying away, it seems
like a lot of people are.
Speaker 4 (01:11):
In the past week, we've been dealing with three houses
right currently for sale. They are what you would loosely
call high end houses. And as you wander around with
the agent, the usual exchanges take place about size and
quality and renovations in street and area, and talk about
the market, what's the bible, that sort of stuff. But
the question we always ask is this, why are they selling?
You asked that for a clue. Are they downsizing? What's changed.
(01:31):
Have they been there their whole lives? Have they transferred?
The three houses all had the same reason they're leaving
the country. This was not good because, as I expressed
on the program last week, I'm finding the immigration figures depressing.
I read over the weekend that suddenly universities in Australia
are closing their books for internationals because they are in undated.
Are our universities and undated with internationals, so they are
(01:53):
not I read that the Albanezi government is under pressure
on immigration because they promised to curb it. They haven't
curbed it. One of the major reasons they haven't curbed
it is because shedloads of US are bailing from New
Zealand and arriving at their place, and given ceer in
our relationship, there's nothing they can do about that. In
the case of the three houses, one have their kids
already ensconced in Australia. They want to join them, and
the parents are looking to join them as soon as
(02:14):
they possibly can, as soon as they sell the house.
The other two families they're off to Europe. Good news
for the agents, of course, because all three houses their
nice houses, so they'll eventually sell the issue after that is,
who buys them. Our immigration figures will be a discussion
of some angst to mark my words sometime I think
next year, because as things stand, there is no sign
of the departures easing, but there is a very real
(02:35):
sign of the arrival stalling. The arrivals are mainly from India, Fiji,
Indonesia and China. Culturally, the face of New Zealand is
changing dramatically, and as we learned last week, a bit
over not much over one percent of those arriving applied
for skills visas to come into the country, just a
bit over one percent. The rest presumably a baristas and
chiefs and construction workers. The demise of this country is
(02:58):
alarmingly real. Most haven't woken up to it yet. The
government knows the problem and they're working hard to at
worst stall it, hopefully to reverse it. But as we've
said on this program for years, numbers don't lie. And
I can show you three houses for sale right now
that tell you the trend is real.
Speaker 3 (03:15):
You've got to ask yourself what's the common link here?
And presumably Mike's looking at his own neighborhood at these houses.
Is he just the neighbor from how and nobody wants
to live where he is. Is that what's happening. I'm
just going by the evidence I'm being presented with here.
Speaker 2 (03:33):
It's the rewrap right debt.
Speaker 3 (03:36):
Apparently we've got a debt problem, and I think Mike's
wondering if that all starts at UNI.
Speaker 4 (03:42):
Part of the problem with debt is attitude. As the
IID chases once again all the people who owe them
from student days, it's not unfair to ask. I don't
think whether the money will ever be paid back. Two
point two billion from expats is a lot of money,
don't you think, mind you so as the many hundreds
of millions of dollars owed by parents and child support cases.
A lot of it is in penalty interest in other words,
(04:03):
penalties on penalties and in BOSTHT cases. If you ever
did decide to front up and look to cut a deal,
a lot that would be written off. So what is
actually owed will vary widely. And that's before you get
to how much, ever, comes back to where it started from.
See commercial banks operate in the same way, but if
you read their results of late the money they set
aside for bad debt has plummeted dramatically, and that's because
(04:23):
they have a different attitude to countries and governments. They
actually insist that alone is a financial transaction. Politicians like
Biden and Elbernez use debt for their own political means
by offering sweetheart deals on payback. In Biden's case, is
happy to write off hundreds of millions of not billions
of dollars in student loans all over the place. Mind you,
he leads a country in one of many that literally
(04:43):
has never and will never pay their own way. Debt
is not a thing you pay back. Debt is a
thing that you may grow larger and larger. Even in
the hypothetical world of global politics. There are banks like
the IMF International Monetary Fund who warn constantly about debt
and how indebted we all are and how eventually it
will have circumstances, but no one seems to care, which
(05:04):
is why, along with youth, whether innocent or arrogant, we
find so many graduates with st udent debt problems. They
didn't get it, They put it aside for another day.
The job turned out to be a bit crap or
a bit low paid. They left the country, so they
thought they'd get away with it. Is it any different
to Sri Lanka? Are they recently signed yet another bail deal.
They owe more money to the IMF than they have
(05:24):
than they ever will have. So is that alone or
is it a charity? We are one of the few
countries that periodically, not often these days, but periodically actually
spends less than we earn. It is to be encouraged,
but it's clearly a dining art. But then, even when
we do run a surplus, some of it at least
is predicated on the idea that money owed on our books,
ie student debt or childcare is actually going to get
(05:46):
paid back someday when we know it is not. So
is it really all just smoke and mirrors? Is it
basically what we wanted to.
Speaker 3 (05:54):
Be having to pay off things? I'm really looking forward
to the day I cannot have a mortgage anymore, at
which point I hope to never in debt ever again.
That boy, you can't, no matter what kind of an
(06:15):
example you set for your kids. So some of them
will still, in some cases go off and try and
get a degree that they don't even know if they
really want to do or will finish, and they'll happily
get out alone to do that, young people. I don't
understand what's going on. I may have brought that up before.
(06:37):
Actually wrap right now. If you are supposed to be
speaking about AI at a tech get.
Speaker 2 (06:45):
Together, do you reckon? You should probably call it AI.
Speaker 4 (06:49):
Bromwin Halfpenny as opposed to brom Win half Wit is
a Victorian parliamentarian Secretary for Jobs and she was at
a tech conference last week and she's made news all
over Australia this morning because in her speech, in front
of some of the biggest tech minds in the world,
she was talking about A one. Can't make this up.
(07:16):
She told the crowd how A one was revolutionizing the economy,
that A one would become a permanent part of Australia
going forward, and how the jobs market would have to
shift to accommodate A one. She later, when clearly they
had pointed out that it wasn't a one, tried to
downplay it by posting a picture of herself posing with
staff at the A one Bakery in Brunswick. Quote should
(07:38):
have been here Tuesday when A one Bakery was on
my mind. The Victorian Liberal member for the Northeastern Metropolitan Region,
Richard Welsh, later tweeted the speech made him weep for Victoria.
You can't make that stuff up.
Speaker 3 (07:52):
I aint it's it's fair of thought for the people
you know who were with her. Precipiably there were some
people with her. She wasn't just there by herself. Maybe
maybe that was the problem, but you think there'd just
be somebody, an assistant to somebody would hear this. I
wonder how many times she said A one instead of AI, because.
Speaker 2 (08:13):
I reckon as embarrassing as it would be.
Speaker 3 (08:17):
If I was a helper, I reckon on the third
A one, I'd probably just get quietly, get up out
of my seat and have a word in her ear.
It's a really is It's a should have gone to
speakstators moment, isn't it.
Speaker 1 (08:32):
It's a rewrap.
Speaker 3 (08:33):
Now, if you were listening to the show last week,
you would have heard Matt Heath's review of the first
Coldplay concert on Wednesday night. Because most people were with
us and did hear that, including Chris Martin.
Speaker 4 (08:46):
It seems can I just tell you just the best
story of the weekend. Matt Heath, who came on this
program last Thursday, did the Coldplay review. Speaking of Coldplay
and Anyway, I guess who was listening to the Coldplay
review on the show. Chris Martin. Chris Martin, here is
the so I am told Chris Martin heres the review.
Thinks it's such a cool review. And Matt Heath is
(09:09):
such a nice person. He gets in contact all he
doesn't obviously he doesn't do anything, but he gets other
people to contact him for Matt Heath gets invited back
to the Saturday Night show. Not only back to the
Saturday Night show, he gets backstage to meet Chris Martin
and the band, hang out with the band the whole time,
do the hands and hands up the whole thing, because
he was.
Speaker 3 (09:29):
I feel like there were two elite well at least
two ingredients to the interview. It wasn't just Matt Heath.
Speaker 4 (09:35):
Correct funny ah, Like, where was I Saturday Night? Was
I hands and hands up with Coldplay?
Speaker 1 (09:40):
Now?
Speaker 4 (09:40):
It wasn't it?
Speaker 2 (09:40):
Yeah? And I had to make sure that the button
was on.
Speaker 4 (09:44):
Were you and hands and hands up? Coldplay?
Speaker 1 (09:46):
No?
Speaker 4 (09:46):
You weren't. Heath was nobody until he came to the.
Speaker 2 (09:50):
Station Sam's wanting to have a word that we had.
Speaker 4 (09:53):
Heath was no one. He was downstairs at some retrospective
music station. We give him a break. He's on the show.
Next thing, he's hanging out with Chris Martin. How does
that work.
Speaker 3 (10:04):
Be interesting to hear if he enjoyed it as much
the second time around, or if he felt like he
was a little bit too close to the action watching
the entire show from right behind the drummery is that.
Speaker 2 (10:18):
I'd just be interested?
Speaker 3 (10:19):
Is that a bit like you know, being in the
front row at the movies, you know you end up
coming out with a stiff neck sort of thing.
Speaker 1 (10:27):
The rerap.
Speaker 2 (10:27):
We're going to finish up here with some awards. They're
airport awards. They're not international airport awards, though.
Speaker 4 (10:34):
I question for you this morning, is New Zealand too
small to have an airport's award? Because I noticed over
the weekend that Wellington Airport won the best large Airport
in the country, thus indicating there are other categories like
best not large Airport in the country, so Wellington the
annual New Zealand Airport Awards, handed out in Hamilton. Wellington
also won the Large Airport Environmental Sustainability category jointly with
(10:57):
Marlborough for hosting the country's first all electric aircraft trial,
so you host a trialie win an award. Hamilton is
best medium airport nor sure which I deal with a
lot of the Northier Airport because I drive past it
most weekends into and out of the country and you'll
never see a busier airport. The number of session is
taking off from that thing is just unbelievable. It's fantastic anyway,
(11:19):
The North Sia Airport is the best small airport. But
you also not only had the best airports of varying sizes,
you had the best infrastructure large medium and small, best
commercial and non aeronautical, large, medium and small, Environmental sustainability large,
medium and small, Best community engagement, large medium and small.
(11:45):
I can't emerging Leader of the Year Large medium and small.
I don't know. It's just like that's a lot of
awards for I mean, New Zealand's only got five million
people and we've got one and a half of Alliance
for God.
Speaker 3 (11:56):
For best bloke who drives the luggage out and then
hands you the case straight off the back of the
ear yep.
Speaker 4 (12:01):
Didn't need Yeah he won that one. It's weird business,
isn't it.
Speaker 3 (12:07):
I was sure to be the guy and Taronga came second, Yeah,
I'm not exactly sure which airports still do do that.
Speaker 2 (12:13):
I hope some do.
Speaker 3 (12:15):
I always used to it, and it's a very efficient
way of dealing with it as well.
Speaker 2 (12:20):
They would literally just put all the luggage.
Speaker 3 (12:22):
On the you know, the trailer thing behind the little
car thing, and just roll around to the front of
the airport and you just take your case off the
trailer yourself. Talk about saving on double handling and time
and efficiency and all that. Oh, I missed the old days.
You tell the kids that these days, and they won't
believe you. I am a very old, fifty year old
(12:49):
ad I sometimes I am a glead hat. That was
the rewrap and we'll do it again more more reminiscing
the oldies tomorrow.
Speaker 1 (12:58):
I see then for more from news talks that'd be
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