October 7, 2025 • 11 mins
THE BEST BITS IN A SILLIER PACKAGE (from Wednesday's Mike Hosking Breakfast) Are You On the Edge of Your Seat?/No Peace Just Yet/There Are Jobs and There Are Jobs/The Next Big Bubble
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:09):
You're listening to a podcast from News Talk said B.
Follow this and our wide range of podcasts now on iHeartRadio,
The Rewrap.
Speaker 2 (00:25):
Okay Idea and Welcome to the Rewrap.
Speaker 3 (00:27):
For Wednesday, all the best bursts from the Mic, Asking
Breakfast on Newsbooks d B and a Sillier package. I
Am Glen Hatten Today, Gazza Piece Deals, Cremat. You're wrapped
up just waiting to hear back from the mass there unemployment,
especially amonging young people. It's been a bit of a
talking point out of the last few days. It sounds
like some people are missing the point and when will.
Speaker 2 (00:50):
Be AI bubble burst.
Speaker 3 (00:51):
But before any of that, it is ocr day again,
and the more we talk about it, the less I care.
Speaker 4 (00:57):
I would have thought. The Inside I e R numbers
yesterday sealed the deal for the Monetary Policy Committee in
Today's called the Inside I E R was the last
substantive look at the economy, and what it shows is
we've got real trouble, quite possible, in fact, recessionary trouble.
The quarter IAQ three they think was certainly flat, if
not in contraction. If it's in contraction, you can add
that to the Q two contraction, and that once again
(01:19):
is a recession. How many of these do we want,
and in the Reserve Bank's case, how many do they
want given they can actually do something about them. Two
particularly poor, if not concerning parts of the data show
one more jobs being cut, so that's your unemployment rate
heading higher, shattering the idea that we may have reached peak.
And two inflation expectations are heading north of three the band, remember,
is one to three. Trouble with that is the three
(01:41):
isn't coming from growth, which is traditionally what you want.
The term for no growth, but increasing inflation is of
course stagflation. We could relitigate again how badly the bank
have handled this, How they missed Q two despite that
being their job. How they kept telling us these stimulatory
effects of lower interest rates were here or just about here,
or here any day now, and if in fact they
(02:02):
were here, they got swallowed by the councils and the
power companies and the insurance giants. Anyway, surely fifty points
of a given well, it isn't. Of course, there'll remain
those who argue twenty five should do it today, in
another twenty five next month, and we can all head
off to Christmas fingers crossed. My argument today it's about
more than stats and numbers. It's about the psychology of
an economy in a country the government had tried but
(02:24):
largely failed to jolly us along, to sell us the
story of recovery. The Reserve Bank have spectacularly failed, but
they can help today with fifty because it says we
got it wrong, we missed it. We need to father
joint up and here is our shot and it's a
big one. Go on, Christian be bold second to last time.
Don't die wondering.
Speaker 3 (02:47):
Because if he just came out and see something really
crazy like we're taking it down all the way zero
with no interest anymore. Thanks, So I have to figure
out a different way to make money.
Speaker 4 (02:59):
So we wrap.
Speaker 2 (02:59):
Okay, okay, okay, let's not getting carried away.
Speaker 3 (03:02):
People find this kind of stuff had enough to understand
as it is, including me.
Speaker 4 (03:05):
Be in Zeed have joined everybody else. They've all lined
up ahead of today day six months ten points down
to four eight nine for your mortgage eighteen months at
four four nine and you're two years at four six five,
three year at four eight five. Kiwe bank, what are they?
They're all the same Essentially, they're all the same at
the end of the day, almost as though they get
together in a small room. By the way, I'm not
(03:26):
saying that, don't sue me.
Speaker 2 (03:29):
Was it like humor? Are a joke?
Speaker 4 (03:32):
Adrian All set up this? Finally, I don't know why
this isn't the biggest story this morning. How much media
time has been spent in the last whatever two three,
four months speculating on where Adrian or is, what he's
going to do. He's actually done something. He started a company.
He's got his own business. Where's that in the news
this morning? For goodness sake? He started Adrian All Limited,
so aut less you know what you're dealing with. I mean,
it could have been cleverer, couldn't it. But Adrian All
(03:52):
Limited its new management consultancy business and he's doing tarot cards.
I might have made that last part up. Don't sue me,
But I.
Speaker 2 (04:02):
Know I don't know when to take you say, the.
Speaker 4 (04:04):
Whole point of this, when you just never know where
you're at.
Speaker 3 (04:06):
You just keep us wondering. It seemed to be a
thing throughout the morning. He had to keep telling people
when he was joking.
Speaker 2 (04:11):
Him when he wasn't.
Speaker 3 (04:14):
It's easier with me, of course, because I'm never saying
anything seriously, so you don't have to believe anything I say.
Right now, Trump pretty confident when he sat down with
Mark Karney, the Prime Minister of Canada, this morning, that
the Gaza piece steel was going to go through without
any worries.
Speaker 2 (04:34):
He claimed that basically.
Speaker 3 (04:35):
Every country in the world had signed up to it
and they loved it. There is just that one other
important party involved in the Gaza peace steal, though, Isn't there.
Speaker 4 (04:45):
Just developing now? Hummas, I told you this was going nowhere.
I don't know why Trump keeps getting sucked into the stuff.
I wish. I hope I'm wrong. But straight off the
back of the debacle of Alaska, which has gone literally nowhere,
and Trump got completely stiffed by putin this idea that
you can stand in the White House a week or
so back and just demand how it's going to go
(05:07):
and expect that to happen is just idiocy personified. Anyway,
Hamas have come back. They've got demands of their own.
What a surprise. They've not changed their demands since they
accepted the initial element. Some of the elements they said, yes,
we can release them, no problem at all. But they
want a permanent and comprehensive seasepire. I think we'll probably
all agree on that and complete withdrawal of Israeli forces
(05:29):
from Garsen. Now that's not happening. Israel's not agreed to that.
So there's your first problem. And the critical part, once
again wasn't mentioned initially, isn't mentioned now, the disarmament. The
deal is, you've got to lay down your weapons essentially
the same to a mass you know, all the stuff
that you do basically for a living, which is go
around terrorizing people and killing people. All that stuff that stops,
(05:50):
and so hand over your weapons and stop being that
and will have a deal. And guess what they're not
going to do it. I feel like getting on a
flotilla and heading over there and making a difference and
taking some sandwiches with me.
Speaker 2 (06:04):
So again joking worried he was going to do that.
Speaker 3 (06:16):
I probably shouldn't be joking about that, although Trump did
this morning, well he wasn't really joking about that, but yeah,
Cannie was trying to say something, you know, heart felt,
in touching about the October seventh anniversary, and Trump just
talked over at the top of him and made a
joke about merging the USA and Canada.
Speaker 2 (06:37):
It's how he rose the rewrap.
Speaker 3 (06:40):
Now, after the government tweaking the youth job seeker situation,
it's got a lot of people wondering about is that
really fair or isn't it?
Speaker 4 (06:50):
Here is a small example of how frustrating it must
be to be the prime minister. They announced job seeker
changes for young people, right it should have been applauded.
Monday after the cabinet, the Prime Minister's in front of
the media relitigating yet again the perils of a life
on welfare, of an expectation of welfare, of going nowhere
fast or good on welfare, instead of taking that for
what it is. Some adults setting expectations, the media, namely
(07:14):
Radio New Zealand, get all myopic about it and requote
them about getting off the couch and playing PlayStation and
saying that there are employers out there quote unquote screaming
for workers. They go and look to literally prove him
wrong by using data that chosen almost all parts of
the country there were more people unemployed than there were
jobs available. Now they're either thick or Macavelian, or possibly
(07:36):
both is it tight economically in the country at the
moment will of course it is, but the data and
the reality on the ground are not the same thing.
If you followed the data logic until there are one
hundred jobs available and one hundred jobless, you can't get
your problem sorted, which, of course is idiocy. Surely we've
learned the lesson during COVID people are screaming, I mean
(07:58):
literally screaming for workers given the borders were closed, and
yet did every jobless person have a job? Though they
did not? Why not? Because a gap and a person
are not automatically lined, whether by skills or location, or
expectation or determination. Are good people hard to find? Yes
they are. It has been a catch cry of the
so called post COVID years has been is to this day.
(08:20):
Quality is not a number. Energy and desire are not stats.
And that is the mistake that the boneheads at Radio
and New Zealand keep making. If you want work, there
is work to be hat. That's why some people get
laid off and go to a new job and some
people go nowhere. You might have to move town for
goodness sake. You might have to work weird hours. You
might have to get new skills, or you might have
(08:40):
to get off the couch. The message the Prime Minister
was trying to get across was not about maths and
data in a myopic, negative view of the world. It
was about burning your life on welfare versus making a
go of it, and to see that you might just
need to kick up the bum from the welfare system
that's become far too soft.
Speaker 3 (08:56):
Yeah, you can't make people do what they don't want
to do. And as I already said over the last
few days, my issue is this is there sometimes parents
can't make their kids do what the kids don't want
to do either, not just that the government can, but
(09:16):
sometimes the parents can. Except now the owner seems to
be on the parents to get to shoulder the expense
of that adult.
Speaker 2 (09:27):
Who doesn't want to work. Do I sound better? I
sound a bit better? Don't I so rerap?
Speaker 3 (09:32):
Perhaps I should have run myself through AI because you
know how you can. You can say, can rewrite this
to make it sound a bit more formal or a
bit more casual, a bit more friendly, but less better.
Speaker 2 (09:44):
Is there an option?
Speaker 4 (09:45):
Macro Strategy Partnership Independent Research Firm AI is not just
a bubble. It's seventeen times the size of dot Com,
four times bigger than the two thousand and eight global
real estate bubble. Torsten Slock, who's the cheap economist at
Apollo Global Management, tech stock prices are more overinflated than
the dot com bubble. Business professor Eric Gordon. More people
(10:07):
will lose money in the AI craze than the dot
com bubble other side, because we're balanced. Venu Krishna, who's
the US equity strategy at Barclay's, he goes the dot
com bubble slash comparison to AI is over blunt.
Speaker 3 (10:25):
Is this a genie that can be rebottled?
Speaker 2 (10:29):
I'm not sure.
Speaker 3 (10:30):
It seems to be so just intertwined with absolutely everything
now that A I'm not sure how they will ever
sort of really charge people for it that I mean,
they're already charging people. So it's the sort of premium
features and things like that, and if and if that's
(10:51):
not going to work as a business model, I don't
really know what can be done because the rest of it,
as you know, you pick up your phone, take a photo,
is AI all over the place.
Speaker 2 (11:01):
Whether you're aware of it or not. I don't know
that you're paying more for it.
Speaker 3 (11:05):
You might be paying maybe you're paying more for it
at the front end when you buy the device, and
the first close depends on whose AI it is.
Speaker 2 (11:10):
I guess, Oh, life so complicated. I am Glen Hat.
Speaker 3 (11:15):
But I mean back in the old days they didn't
have cool things like podcasts either. So you know you've
got to take the week with the chef, don't you.
Speaker 2 (11:23):
Yeah? Is that a saying? Probably isn't. I think I've
got that wrong. You separate week from chef? What is
it that you take with something? I can't remember? That
was the past? This is the new days.
Speaker 3 (11:34):
I'll ask A, but I'll know I am Glen Hat.
I'll see you back here again with more fiels of
wisdom like that tomorrow.
Speaker 1 (11:48):
For more from News Talks that'd be listen live on
air or online, and keep our shows with you wherever
you go with our podcast on iHeartRadio.
You're listening to a podcast from News Talk said B.
Follow this and our wide range of podcasts now on iHeartRadio,
The Rewrap.
Speaker 2 (00:25):
Okay Idea and Welcome to the Rewrap.
Speaker 3 (00:27):
For Wednesday, all the best bursts from the Mic, Asking
Breakfast on Newsbooks d B and a Sillier package. I
Am Glen Hatten Today, Gazza Piece Deals, Cremat. You're wrapped
up just waiting to hear back from the mass there unemployment,
especially amonging young people. It's been a bit of a
talking point out of the last few days. It sounds
like some people are missing the point and when will.
Speaker 2 (00:50):
Be AI bubble burst.
Speaker 3 (00:51):
But before any of that, it is ocr day again,
and the more we talk about it, the less I care.
Speaker 4 (00:57):
I would have thought. The Inside I e R numbers
yesterday sealed the deal for the Monetary Policy Committee in
Today's called the Inside I E R was the last
substantive look at the economy, and what it shows is
we've got real trouble, quite possible, in fact, recessionary trouble.
The quarter IAQ three they think was certainly flat, if
not in contraction. If it's in contraction, you can add
that to the Q two contraction, and that once again
(01:19):
is a recession. How many of these do we want,
and in the Reserve Bank's case, how many do they
want given they can actually do something about them. Two
particularly poor, if not concerning parts of the data show
one more jobs being cut, so that's your unemployment rate
heading higher, shattering the idea that we may have reached peak.
And two inflation expectations are heading north of three the band, remember,
is one to three. Trouble with that is the three
(01:41):
isn't coming from growth, which is traditionally what you want.
The term for no growth, but increasing inflation is of
course stagflation. We could relitigate again how badly the bank
have handled this, How they missed Q two despite that
being their job. How they kept telling us these stimulatory
effects of lower interest rates were here or just about here,
or here any day now, and if in fact they
(02:02):
were here, they got swallowed by the councils and the
power companies and the insurance giants. Anyway, surely fifty points
of a given well, it isn't. Of course, there'll remain
those who argue twenty five should do it today, in
another twenty five next month, and we can all head
off to Christmas fingers crossed. My argument today it's about
more than stats and numbers. It's about the psychology of
an economy in a country the government had tried but
(02:24):
largely failed to jolly us along, to sell us the
story of recovery. The Reserve Bank have spectacularly failed, but
they can help today with fifty because it says we
got it wrong, we missed it. We need to father
joint up and here is our shot and it's a
big one. Go on, Christian be bold second to last time.
Don't die wondering.
Speaker 3 (02:47):
Because if he just came out and see something really
crazy like we're taking it down all the way zero
with no interest anymore. Thanks, So I have to figure
out a different way to make money.
Speaker 4 (02:59):
So we wrap.
Speaker 2 (02:59):
Okay, okay, okay, let's not getting carried away.
Speaker 3 (03:02):
People find this kind of stuff had enough to understand
as it is, including me.
Speaker 4 (03:05):
Be in Zeed have joined everybody else. They've all lined
up ahead of today day six months ten points down
to four eight nine for your mortgage eighteen months at
four four nine and you're two years at four six five,
three year at four eight five. Kiwe bank, what are they?
They're all the same Essentially, they're all the same at
the end of the day, almost as though they get
together in a small room. By the way, I'm not
(03:26):
saying that, don't sue me.
Speaker 2 (03:29):
Was it like humor? Are a joke?
Speaker 4 (03:32):
Adrian All set up this? Finally, I don't know why
this isn't the biggest story this morning. How much media
time has been spent in the last whatever two three,
four months speculating on where Adrian or is, what he's
going to do. He's actually done something. He started a company.
He's got his own business. Where's that in the news
this morning? For goodness sake? He started Adrian All Limited,
so aut less you know what you're dealing with. I mean,
it could have been cleverer, couldn't it. But Adrian All
(03:52):
Limited its new management consultancy business and he's doing tarot cards.
I might have made that last part up. Don't sue me,
But I.
Speaker 2 (04:02):
Know I don't know when to take you say, the.
Speaker 4 (04:04):
Whole point of this, when you just never know where
you're at.
Speaker 3 (04:06):
You just keep us wondering. It seemed to be a
thing throughout the morning. He had to keep telling people
when he was joking.
Speaker 2 (04:11):
Him when he wasn't.
Speaker 3 (04:14):
It's easier with me, of course, because I'm never saying
anything seriously, so you don't have to believe anything I say.
Right now, Trump pretty confident when he sat down with
Mark Karney, the Prime Minister of Canada, this morning, that
the Gaza piece steel was going to go through without
any worries.
Speaker 2 (04:34):
He claimed that basically.
Speaker 3 (04:35):
Every country in the world had signed up to it
and they loved it. There is just that one other
important party involved in the Gaza peace steal, though, Isn't there.
Speaker 4 (04:45):
Just developing now? Hummas, I told you this was going nowhere.
I don't know why Trump keeps getting sucked into the stuff.
I wish. I hope I'm wrong. But straight off the
back of the debacle of Alaska, which has gone literally nowhere,
and Trump got completely stiffed by putin this idea that
you can stand in the White House a week or
so back and just demand how it's going to go
(05:07):
and expect that to happen is just idiocy personified. Anyway,
Hamas have come back. They've got demands of their own.
What a surprise. They've not changed their demands since they
accepted the initial element. Some of the elements they said, yes,
we can release them, no problem at all. But they
want a permanent and comprehensive seasepire. I think we'll probably
all agree on that and complete withdrawal of Israeli forces
(05:29):
from Garsen. Now that's not happening. Israel's not agreed to that.
So there's your first problem. And the critical part, once
again wasn't mentioned initially, isn't mentioned now, the disarmament. The
deal is, you've got to lay down your weapons essentially
the same to a mass you know, all the stuff
that you do basically for a living, which is go
around terrorizing people and killing people. All that stuff that stops,
(05:50):
and so hand over your weapons and stop being that
and will have a deal. And guess what they're not
going to do it. I feel like getting on a
flotilla and heading over there and making a difference and
taking some sandwiches with me.
Speaker 2 (06:04):
So again joking worried he was going to do that.
Speaker 3 (06:16):
I probably shouldn't be joking about that, although Trump did
this morning, well he wasn't really joking about that, but yeah,
Cannie was trying to say something, you know, heart felt,
in touching about the October seventh anniversary, and Trump just
talked over at the top of him and made a
joke about merging the USA and Canada.
Speaker 2 (06:37):
It's how he rose the rewrap.
Speaker 3 (06:40):
Now, after the government tweaking the youth job seeker situation,
it's got a lot of people wondering about is that
really fair or isn't it?
Speaker 4 (06:50):
Here is a small example of how frustrating it must
be to be the prime minister. They announced job seeker
changes for young people, right it should have been applauded.
Monday after the cabinet, the Prime Minister's in front of
the media relitigating yet again the perils of a life
on welfare, of an expectation of welfare, of going nowhere
fast or good on welfare, instead of taking that for
what it is. Some adults setting expectations, the media, namely
(07:14):
Radio New Zealand, get all myopic about it and requote
them about getting off the couch and playing PlayStation and
saying that there are employers out there quote unquote screaming
for workers. They go and look to literally prove him
wrong by using data that chosen almost all parts of
the country there were more people unemployed than there were
jobs available. Now they're either thick or Macavelian, or possibly
(07:36):
both is it tight economically in the country at the
moment will of course it is, but the data and
the reality on the ground are not the same thing.
If you followed the data logic until there are one
hundred jobs available and one hundred jobless, you can't get
your problem sorted, which, of course is idiocy. Surely we've
learned the lesson during COVID people are screaming, I mean
(07:58):
literally screaming for workers given the borders were closed, and
yet did every jobless person have a job? Though they
did not? Why not? Because a gap and a person
are not automatically lined, whether by skills or location, or
expectation or determination. Are good people hard to find? Yes
they are. It has been a catch cry of the
so called post COVID years has been is to this day.
(08:20):
Quality is not a number. Energy and desire are not stats.
And that is the mistake that the boneheads at Radio
and New Zealand keep making. If you want work, there
is work to be hat. That's why some people get
laid off and go to a new job and some
people go nowhere. You might have to move town for
goodness sake. You might have to work weird hours. You
might have to get new skills, or you might have
(08:40):
to get off the couch. The message the Prime Minister
was trying to get across was not about maths and
data in a myopic, negative view of the world. It
was about burning your life on welfare versus making a
go of it, and to see that you might just
need to kick up the bum from the welfare system
that's become far too soft.
Speaker 3 (08:56):
Yeah, you can't make people do what they don't want
to do. And as I already said over the last
few days, my issue is this is there sometimes parents
can't make their kids do what the kids don't want
to do either, not just that the government can, but
(09:16):
sometimes the parents can. Except now the owner seems to
be on the parents to get to shoulder the expense
of that adult.
Speaker 2 (09:27):
Who doesn't want to work. Do I sound better? I
sound a bit better? Don't I so rerap?
Speaker 3 (09:32):
Perhaps I should have run myself through AI because you
know how you can. You can say, can rewrite this
to make it sound a bit more formal or a
bit more casual, a bit more friendly, but less better.
Speaker 2 (09:44):
Is there an option?
Speaker 4 (09:45):
Macro Strategy Partnership Independent Research Firm AI is not just
a bubble. It's seventeen times the size of dot Com,
four times bigger than the two thousand and eight global
real estate bubble. Torsten Slock, who's the cheap economist at
Apollo Global Management, tech stock prices are more overinflated than
the dot com bubble. Business professor Eric Gordon. More people
(10:07):
will lose money in the AI craze than the dot
com bubble other side, because we're balanced. Venu Krishna, who's
the US equity strategy at Barclay's, he goes the dot
com bubble slash comparison to AI is over blunt.
Speaker 3 (10:25):
Is this a genie that can be rebottled?
Speaker 2 (10:29):
I'm not sure.
Speaker 3 (10:30):
It seems to be so just intertwined with absolutely everything
now that A I'm not sure how they will ever
sort of really charge people for it that I mean,
they're already charging people. So it's the sort of premium
features and things like that, and if and if that's
(10:51):
not going to work as a business model, I don't
really know what can be done because the rest of it,
as you know, you pick up your phone, take a photo,
is AI all over the place.
Speaker 2 (11:01):
Whether you're aware of it or not. I don't know
that you're paying more for it.
Speaker 3 (11:05):
You might be paying maybe you're paying more for it
at the front end when you buy the device, and
the first close depends on whose AI it is.
Speaker 2 (11:10):
I guess, Oh, life so complicated. I am Glen Hat.
Speaker 3 (11:15):
But I mean back in the old days they didn't
have cool things like podcasts either. So you know you've
got to take the week with the chef, don't you.
Speaker 2 (11:23):
Yeah? Is that a saying? Probably isn't. I think I've
got that wrong. You separate week from chef? What is
it that you take with something? I can't remember? That
was the past? This is the new days.
Speaker 3 (11:34):
I'll ask A, but I'll know I am Glen Hat.
I'll see you back here again with more fiels of
wisdom like that tomorrow.
Speaker 1 (11:48):
For more from News Talks that'd be listen live on
air or online, and keep our shows with you wherever
you go with our podcast on iHeartRadio.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.