July 11, 2025 • 27 mins
Tarriff letters, the RBA's surprise decision, an ancient city in Peru - Adam Lang and Sean Aylmer go head to head on the top business stories of the week, with special guest judge Diana Mousina (Deputy Chief Economist at AMP) picking a winner in a fierce debate.
Find out more: https://fearandgreed.com.au
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 (00:06):
This is the weekend edition of Fear and Greed business
news you can use.
Speaker 2 (00:10):
I'm Adam Lane, and good morning, Sean Aylmer.
Speaker 3 (00:12):
Good morning a Dan Ski. Very unusual position for me
to be a very You're normally the judge that I'm abusing,
but alas that's not the case today.
Speaker 2 (00:22):
No, the abuse will remain, of course.
Speaker 1 (00:24):
So this is our weekend show and it's all about
two people, in this case us nominating what we think
is the biggest story of the week, the most remarkable story,
a mystery category story, and our favorite story of the week.
And it is a competition, Sean. There is a winner
and there is a loser. So every week we're joined
by a judge to pick a winner. And with Michael
on leave this week, I'm stepping into the arena to
(00:46):
compete again. So we needed a guest judge, and after
ruling with an iron fists last week, I'm pleased to
say we have returning judge Diana Messina AMP Deputy Chief Economist, Deanna.
Speaker 2 (00:59):
Welcome back to Fear and God.
Speaker 4 (01:00):
I can't believe you asked me back.
Speaker 3 (01:02):
I feel at a disadvantage here because the best part
of the weekend edition for me is abusing the judge.
Now that's normally Adam, so I feel very comfortable of
using Adam. However, Diana, you're such a nice person, and
you know I've known you for a long time, and
I just don't think I can abuse you. But I'm
going to Okay, That's all I wanted. I just wanted
(01:23):
to green night gloves.
Speaker 1 (01:25):
Are off, all right. The biggest story of the week, Shaun,
Shall I go first?
Speaker 3 (01:28):
You go first?
Speaker 2 (01:29):
All right for me, Diana.
Speaker 1 (01:31):
RBA no interest rate cut is the biggest business story
this week, as a Reserve Bank of Australia's decision to
hold the cash rate at three point eighty five percent
came in. This move surprise markets and caused query of
the RBA's communication style, with Governor Michelle Bullock facing scrutiny
at a media conference over the lack of guidance in
(01:51):
the lead up. The RBA governor conceded the obvious. Under
this new regime, she can't preempt the board's decisions or
guide expectations between meetings, and as Bloomberg reported, this silence
has rendered mid meeting Central Bank communication effectively moot, and
has noted on the very esteemed amp Insights Hub and
(02:11):
this may have been. In fact, Diana Messina herself.
Speaker 3 (02:14):
Sucking up this morning is outrageous. Can we panalize in
for sucking up?
Speaker 4 (02:19):
No, I actually gave more points for.
Speaker 3 (02:21):
That last ouch.
Speaker 2 (02:22):
Go on lovely.
Speaker 1 (02:23):
Despite the easing inflation, high interest rates, and economic uncertainty,
they are remaining key risk factors.
Speaker 2 (02:29):
For investors now. The next key test.
Speaker 1 (02:32):
Comes with the June quarter inflation data on thirty July,
but for now, the RBA is clearly holding its nerve.
It was big news this week with a twist and
a dash of salt, and that's why this is the
biggest business story of the week.
Speaker 3 (02:46):
Can I say nothing happened biggest story of the week.
Do you know when I was a journalist and I
had a great editor, a guy called Glen Birch who
truly was a great news person. Yes, and he sort
of I'd come with him a great story, but nothing happened.
And it's true, Adam, big news story of the week.
Nothing happened so important, what a spectator. So that's why
(03:08):
it's the second biggest story of the week. Diana, don't
look at me like that. I'm very put off by
you already bring back, Michael. What really matters this week, right,
that really honestly matters as opposed to nothing happened, is
a Liberation Day tariff started being implemented. It began, well,
(03:28):
these weren't even Liberation Day tariffs. We've got fifty percent
on copper that kind of slightly came out of the blue.
Hit the local miners. Though, BHP and Ria may win
out of this because they've got a JV in the
US called Resolution Copper Resolution Copper Massive massive mind, well sorry,
potentially a massive mind twenty five percent of US's copper
needs potentially unfortunately can't get through some of the protocols,
(03:53):
at least unfortunately for real BHP shareholders, So we'll see
how that goes. They may actually win out of this tariff.
Then we had the streadths of turn of percent tariffs
and pharmaceuticals that hit THESEL. A bit tricky for the
government this one, because the Pharmaceutical Benefit Scheme subsidizes medicines.
Might be a great idea. I mean, I'm all for
the PBS, but it definitely is protectionism. I'm waiting to
(04:15):
see if Deanna agrees with me on that. I'm she's
sort of smiling. Sure, she's either saying you're a dickhead
or she is saying, yes, yes, I agree. Can't tell.
I'm trying to tell my points, keep outing, keep adding.
I mean that the whole pharmaceutical benefit scheme is a
reason Donald Trump can pick on Australia. So that's really relevant.
(04:36):
Trump also hit Brazil with fifty percent tariffs. Now, previously
Brazil had a ten percent tariff, and then Trump decided
that we not much to do with the economics. More
about the treatment of former leader and Trump ally Ja Bolsonaro.
Also how the Latin American country is treating big tech,
big tech issue for Australia, how we treat big tech.
So Brazil went from ten percent to fifty percent. Then
(04:58):
late in the week, Trump talked about having I think
at tariff's of fifteen to twenty percent. He's already whacked
a bunch of countries like Japan, South Korea, myen maar.
Canada got it late in the week. Just this is
the bigges story of the week because something actually happened.
He put tariffs on. Oh god, I don't look like
the way you're looking at it.
Speaker 4 (05:15):
Your markets are a record high.
Speaker 3 (05:18):
That's not what Adam said. Adam said, nothing to do
with share markets. In fact, you just hold that point
because we've talked about that later from the show. What
you have to judge. What you have to judge, Diana,
is my excellent tariff story actually happening stuff like that verse.
Nothing happened laying over there over to year.
Speaker 4 (05:38):
So my criteria from last week hasn't changed.
Speaker 3 (05:41):
The fire I didn't have the criteria, wasn't he last week?
Speaker 4 (05:43):
You should have listened, You should have gotten to know your.
Speaker 3 (05:46):
Guest judge, breaking your box, Shawn go on.
Speaker 4 (05:48):
So there are five key things I was looking for.
One relevance to timeliness, three is it unexpected or rare?
For the economic and financial market impact, and the entertainment
factor For the RBA story, Adam, I thought that that
was really unexpected, so I gave you five out of
five for that particular bit. I actually also gave you
(06:08):
additional marks for the sucking up, which I really liked.
But the economic and financial market impact I gave you
one out of five because financial market Ozzie dollar didn't
move really well a little bit the end of the week.
So eighteen out of twenty five.
Speaker 2 (06:25):
I think that's my highest score ever.
Speaker 3 (06:28):
Last week.
Speaker 4 (06:28):
Actually, yeah, sure, the liberation dead tariffs were they unexpected?
I think we thought that we would get something this week,
given that the ninth of July deadline was coming up.
Speaker 3 (06:39):
Oh you might, ever, I didn't.
Speaker 4 (06:41):
The letters started going out the end of last week.
There was a bit of entertainment factor in there. No
sucking up fourteen out of twenty five.
Speaker 3 (06:49):
Ouch. Bang, I'm not liking this UD.
Speaker 2 (06:54):
So remember the sucking up?
Speaker 3 (06:55):
Sure, I remember the sucking up. Right, Let's move on
to the most remarkable story. I think then, I actually,
because I've got some serious sucking up to do. Because
did you mention financial markets being at record high as
a moment ago down?
Speaker 4 (07:08):
I did?
Speaker 3 (07:09):
Ah, let's talk about that. What is remarkable asset prices
and I'm going to nodding of the head here out
and see that I'm liking it. I'm going to tell
the story with three specific assets. One en video the
chip maker. It closed yesterday over four trillion US dollars
(07:31):
in value. That's about six point one six point two trillion, Ossie.
Never has a company closed that high? Why? Well, we
all love the whole chip story, and some of its
clients are spending I think three hundred and fifty billion
over the next little bit, boosting their AI capacity. Also,
the big tech guys are sort of back online, so
(07:52):
they had a bit of a rough trot. Then the
tariffs were implemented. The tariff stuff the biggest story of
the week stuff. Yep, the tarifts are implemented and big
tech isn't really hit with tariffs, so that's why kind
of investors are liking them. Again. So Nvidia's share price phenomenal.
The next one Bitcoin that's a risk asset, right yet
it pushed beyond one hundred and sixteen thousand US dollars
a unit. How does that work in a risk asset?
(08:14):
I don't know. Of course, that came alongside Wall Street
hitting record highs. The local one I want to throw
in this into this story is Promedicus, which might be
more of a stock specific story, up one hundred and
forty percent in the past year. The way I think
of Promedicus because it basically brings X rays into the
twenty first century, not so much the taking of X rays,
(08:35):
but the transmission and the ability to diagnose issues using
their software, their visage software. It's now top twenty stock,
bigger than Santos Cole's area twice the size of Quantus
Phenomenal asset prices right now, as per Nvidia, Bitcoin Promedicus,
are crazy high. That would be my call, because we
(08:57):
have so much uncertain Do you remember, you know the
the best times worst of times was We don't know
whether it's best of the times. It might be the
worst of times. We're not sure. Still, we have these
asset prices so incredibly high, absolutely remarkable a Dansky over.
I liked the way down. I was nodding her head,
(09:17):
smiling as I up against it. I'm clear, reckon, you
might have to come up with a good one.
Speaker 1 (09:22):
Against it, all right, So different twist on the most
remarkable story of the week, Dana.
Speaker 2 (09:27):
My pick this week is.
Speaker 1 (09:29):
The surprise twist in the Chris Ellison saga at Mineral Resources.
Speaker 3 (09:33):
Aren't you even trying? Come on, come on for a gun.
Speaker 1 (09:41):
So last November, Mineral Resources said Ellison would step down
as managing director within twelve to eighteen months after admitting
to related party tax scheme look at the colorfulness of
this story and using company resources, including staff, for his
private yacht. The board imposed millions in penalties and created
a new governance Committee. But this week that plan hit paused.
(10:04):
Deiana chairman Malcolm Bundy told investors the board is now
reviewing leadership plans in quotes, in the best interest of shareholders.
It's a sharp backflip. It's a slip sharp.
Speaker 3 (10:18):
I think, he said, I think you back flick. Backflip
is actually quite an effort shark backflick.
Speaker 1 (10:24):
I like that sharp backflip, despite assex ongoing investigations. So
what makes this so remarkable is Ellison's staying power. He
remains the largest Shell shareholder with eleven and a half percent,
and he's backed by major investors like l One Capital.
Speaker 3 (10:39):
Do you reckon the fact that he's eleven percent shareholders? Actually,
why they're doing the backflip?
Speaker 2 (10:44):
I look only in part I think they.
Speaker 3 (10:46):
Believe, Adam you are such a such a positive person.
Speaker 1 (10:51):
Only in part because I think the others, including one,
must believe that he's the best leader for the company
despite what's happened before. True, it's rare to see a
company reverse course on governance this publicly, and with MinRes
carrying a five point eight billion dollar debt, a soft
lithium market, and safety issues in the pilbra. This spilight
(11:12):
is only getting brighter. It is fascinating corporate wriggling in
real time. And that's why this is my most remarkable
story of the week before.
Speaker 3 (11:21):
The Anna Taksh I want you to know she smiled
more during mine than yours.
Speaker 4 (11:26):
So was there an impact to the share prize?
Speaker 2 (11:29):
None?
Speaker 3 (11:31):
It has been gone down, to be honest, It's almost
the worst performing stock over the last twelve months. God
that I'm adding to Adam's story, damn it. And this
did it did pick up after so I'm just filling out.
It did pick up a bit after the fact because
the fund is love Chris Ellison. But there's just governance issues.
(11:53):
Not that I'm telling you that because I want you
to go for my story.
Speaker 2 (11:56):
It's for the audience's benefit.
Speaker 4 (11:59):
I'm going to give it to Sean seventeen out of
twenty five.
Speaker 3 (12:02):
It's hard for you to give that to me, wasn't it?
Speaker 4 (12:04):
It wasn't It was not easy. I've only got thirteen
out of twenty five. I've got whated yeah, thirteen. So
it's probably just a bit of my own personal bias.
I don't really like the corporate stories unless they have
a really big market impact. I mean there's just there's
always just so many to keep on top of. And
(12:25):
I guess my time is more spent looking at look
at the school, look at the economics and the financial
market impact. So it's probably a bit of personal bias
involved in that one.
Speaker 2 (12:34):
We were one on personal bias in the first one.
Speaker 4 (12:37):
And I do think that it is remarkable that equities
don't care about tariffs this week.
Speaker 3 (12:43):
It's amazing, all right.
Speaker 2 (12:45):
It's half way sean one each one.
Speaker 3 (12:48):
And because we're because we have a judge that actually
is half decent. This week, we're actually getting a running score. Now.
I don't know whether you took much notice, but it's
actually all tied up on the score numbers. Well, I
think it's thirty one thirty one or something like that.
I just the top of my head, that's what I
think it was. But it's about that. I think it's
thirty one thirty one. Not that I'm competitive or anything here,
(13:09):
that's right.
Speaker 4 (13:10):
But do I have the discretion to add our subtract
points at the end as well?
Speaker 2 (13:14):
Come to cover coffee anything so blatant.
Speaker 1 (13:18):
We'll be back in a moment with the rest of
the weekend edition. Welcome back to the weekend edition and Sean,
it's time for our mystery category and this week, why
don't you tell.
Speaker 2 (13:33):
Diana what category we've gone?
Speaker 3 (13:35):
Well, it's basically our favorite ancient history business story of
the week. A little obscure, we agree.
Speaker 4 (13:43):
I was hoping for the mushroom story.
Speaker 3 (13:45):
Ah, how do you come up?
Speaker 2 (13:47):
Now?
Speaker 3 (13:48):
This is a great question when you're a business podcast.
How do you cover the story that is kind of
like the biggest story, that the only story anyone's talking about.
It's quite difficult. You know, we didn't really do much.
We should have done stuff on the price of mushrooms, maybe.
Speaker 4 (14:03):
The apparently the demand for mushrooms has gone down.
Speaker 2 (14:07):
Of course people are surprising.
Speaker 3 (14:09):
Yeah, well kind of mushroom? Is that shit? Ducky?
Speaker 2 (14:14):
Right? Oh, that's a bit ancient business story of the week? Sean,
shall I go first?
Speaker 3 (14:19):
Nostright? I know yours? Are you a history.
Speaker 4 (14:27):
Buff like ancient history? Probably not?
Speaker 3 (14:33):
Okay, but narrow it down. These are both ancient history stories.
What part of the world are you more interested in?
So the South America, the European Europe? Europe bringering, thank
you very much. Do you know one of the truly
great artworks of European history, possibly the greatest. And it's
not the main Elesa. I get that. That's pretty good.
(14:55):
Do you know what it is? The Bayou Tapestry. The
Bayou Tapestry embroidered medieval artwork, a masterpiece. It depicts the
Norman conquest of England in ten sixty six. Why that
is so important is that's actually the time that the
Normans came and conquered the UK. Or these Normans, which
(15:17):
are French people the north of France, came over. They
kind of took over the land and created England out
Britain as we know it. So it's kind of the
beginning of Britain as we know it. Harold Godwinson Godwinson,
he was a guy who was sort of running Britain
up until that time. But there are a bunch of fiefdoms.
The Battle of Hastings occurred, William the Conqueror came over.
(15:37):
We got the UK. Now we don't know a lot
about it except for the Bayu Tapestry, which was done
I believe it was done by William's half brother in
the years afterwards. It's seventy meters long. It depicts the
battle and it's been sitting in France for a mere
nine hundred and sixty years. Well, this week Emmanuel Macron
(15:59):
and kissed Arma met and Manual more Crimes said, we
will learn it to the British Museum, so you guys
can have this Bayu Tapestry, which probably rightfully belongs in
the UK. Not with the UK steals everything from everyone else,
you know, the Greeks, the Romans, the whole lie, right,
But in this instance the French have taken something from
the Brits and they're giving it back on lane to
(16:20):
the British Museum. Just the fact that the Bayu Tapestry
is in the news this week, that is just fantastic.
It is the only proper record of perhaps the greatest
battle of English history, because it changed Britain more than
any other battle ever did. And I just think it's
a great story. Subjective bias, Come and give me a
(16:42):
bit of ancient history from Europe.
Speaker 1 (16:44):
Adam, Well, I'm going to sort of take a little
step around the globe Sean to per Peru.
Speaker 3 (16:52):
Which part of Europe is from.
Speaker 2 (16:54):
It's not it's from South America.
Speaker 1 (16:57):
But in particular for a business new podcast, Sean, this
is perhaps one of the oldest known market economies.
Speaker 3 (17:05):
Now, oh nice, Yeah, that's nice.
Speaker 1 (17:07):
That's so my favorite ancient business story. This week takes
us to Panico, Guiana. Panico, a three thousand, five hundred
year old city just discovered in northern Peru, located two
hundred kilometers north of Lima. Panico is believed to have
been a major trading hub linking the Pacific Coast, the
Andes and the Amazon community. So this process has been
(17:29):
amazing eight years it's taken to uncover these eighteen structures.
It includes temples, residences, clay sculptures, beautiful beaded jewelry, animal figurines,
and the city. It is estimated dates back between eighteen
hundred and fifteen hundred BC and is seen as a
continuation of the Caeral civilization, the oldest known in the Americas.
(17:52):
So lead archaeologist, doctor Bruce Shady says, tiguous, not slim.
Speaker 3 (17:57):
That's quite the name for an archaeologist.
Speaker 1 (17:59):
This is the real droptory Shady, please stand up, says
Pernico helps explain what happened to Corral afterwards, hit by
climate change. The site strategic location and reach rich cultural
finds show just how advanced and interconnected these early early
civilizations were in this market economy. So what we have
ancient trade routes, religious centers, cultural exchange, and a market
(18:22):
economy that dates back over three thy five hundred years.
And that's why it's my favorite business story from the
ancient Times of the week.
Speaker 3 (18:30):
Excellent down. I have a question, do you ever wonder
how they just come across an ancient city? It's only
two n in kilometers north of Lima? Yeah, I presume so,
I just it's kind of still it's kind of amazing,
amazing that we haven't uncovered I mean, Pompei and a
few of those little examples. Yeah.
Speaker 4 (18:52):
Anyway, both stories that were both interesting, very close marks
actually in this in this round. But I like the
economic market economy, you know, till.
Speaker 3 (19:02):
No one's laughing at this, Adam.
Speaker 4 (19:03):
I gave you fifteen out of twenty five sean thirteen
out of twenty.
Speaker 3 (19:08):
Inchigerhead, albeit a temporial tapestry, gets like fifty four percent,
thirteen out of two five. Yeah, welcome to the new
your head in shame, Dana, I mean, come on, I
have turned.
Speaker 4 (19:23):
This is maybe if you pay for us to go
to the British Museum and see the bay tapestry and
we could, we could.
Speaker 2 (19:31):
It's an international we won't.
Speaker 3 (19:33):
Of market economy, we might help, but after that judgment
thirteen out of twenty five for the Bauten, you've got
no chance.
Speaker 2 (19:39):
Come on, Sean, we've got to finish here. Favorite story week,
all right, Diana, this.
Speaker 1 (19:46):
Is my favorite story of the week, and it's about
the growing recognition of mental health not just as a
medical issue, but as an economic one. According to new
figures released for the first time by the Council of
Australian Life Insurers, life insurans paid out a record record
two point two billion dollars in mental health claims last year,
and that's double the amount from five years ago. Nearly
(20:07):
half of all of all life insurance payouts in twenty
twenty four were actually related to mental health conditions like anxiety,
PTSD and depression, which to me shockingly is a study
that showed the permanent disability claims by those in their
thirties increased by more than seven hundred percent in the
decade to twenty twenty two. That's seven hundred percent for
(20:30):
people thirty or under who are now saying that they
can't work anymore through these injuries and that now comprises
more than a third of all such claims. Now, in
my view, we've never treated mental illness with the same
seriousness as physical injury. It's harder to see and often
harder to treat, but we are getting there. While this
is a fiscal warning about the real costs of health,
(20:52):
it's also about recognizing a growing crisis in Australia and
around the world.
Speaker 2 (20:55):
And that's got to be good.
Speaker 1 (20:57):
Yes, premiums may rise, but there's a growing greater good
becoming clearer. We need to be better at supporting mental
health and people's well being. We need to better recognize
the pressures that people actually face. And this started from
the insurance industry highlights that and that's got to be
a good thing. And that's why it's my favorite business
story of the week.
Speaker 2 (21:16):
Sean, you cheat, good luck, you cheat?
Speaker 3 (21:20):
How dare you come up with a worthy story on
the last story of the day? I mean, the whole
idea is that we have a laugh here and how
can how can I argue against it is so much
an important issue? So like I just can we disqualify
him from being too worthy, being too nice, too important,
too relevant, any of those things?
Speaker 4 (21:39):
Well, there is a massive economic impact here because of.
Speaker 3 (21:42):
The healthcare budget don't help him.
Speaker 4 (21:45):
And then and the and the growing reliance on the NDIS,
and that's now the largest cost to the budget, basically
even more than Medicare. I mean outside of welfare payments
and age.
Speaker 3 (21:58):
Interest payments, and it's more than payments at the moment. Anyway,
I'm moving on.
Speaker 2 (22:04):
This is me slowly.
Speaker 3 (22:07):
I'm in trouble. I mean, what's been most entertaining this week?
Speaker 4 (22:10):
But I gave Adam very low points for the entertainment
factory excellent?
Speaker 3 (22:16):
What's more entertaining? Then then the great man himself, Elon
must Oh.
Speaker 4 (22:22):
I like it, already have a soft spot for Elon.
Speaker 3 (22:28):
So Donald Trump, former pal, signed the One Big Beautiful
Bill Act last weekend, nine hundred page bill four point
five trillion in tax cuts.
Speaker 4 (22:38):
Hang on, that was an audible ye no, because I
know what, I know where the story is.
Speaker 3 (22:44):
It's good. So you know that Trump's twenty seventeen tax
cuts again become permanent deductions for tips, which is really
big big thing for many workers in the US. Overtime
order loan seniors, boost military spending, and imposes deep cuts
to safe net programs medicaid, food assistance and all that.
Elon Mask a doge man from wayback, one of the ogs,
(23:08):
one of the og doge, although given that the dog
has only been around six months, being an og probably
doesn't mean that much. However, he is the doge man. Well,
isn't he dirty about it? He basically said, it's going
to add nearly three point three trillion dollars to the
national debt over the next decade. So he's going to
(23:29):
launch the incredibly well named America Party. You can see
the ads already, can't you care. It's sort of like
that's exactly where it is. They'll be yellow everywhere. America
Party slightly lacking in detail. I must say, mister Trump
hasn't given us too much detail on it. On x
(23:49):
he wrote, and I quate him by a factor of
two to one. You want a new political party, and
you shall have it. It's a bit like the Messiah,
isn't it really? When it comes to bank bankrupting our
country with waste and graft. We live in a one
party system, not a democracy. The Democrats probably disagree with that,
but that's all right, he said. When I would say
(24:11):
today the America Party is formed to give you back
your freedom. Robert the Bruce trumpet back pretty quickly, he
said he was, and I quite saddened to watch Elon
Musk go completely off the rails, essentially becoming a train wreck,
train wreck and caps of course over the past five weeks. Now,
of course, this reminds me of Ross Perret, those who
(24:32):
are like us politics, the billionaire, the textan I think
he was. He ran the Reform Party in nineteen ninety two.
It actually Ross.
Speaker 2 (24:40):
Perot Paroh for president. I remember the bumper stickers Paro
for president.
Speaker 3 (24:44):
He wasn't totally mad Ross Perot, you know, which is
probably me comparing him to task. He got nine a
percent of the vote back then. He actually helped Bill
Clinton because he was a right he was a conservative.
He actually pulled votes away from George Bush Senior, George H. W. Bush,
(25:05):
and he helped Bill Clinton beat George H. W. Bush.
I don't know that this is actually going to come
to pass, but in terms of my favorite story for
the week, how entertaining, I mean, this is just admittedly
it's ongoing the fight between the two, but bring on
the America Party.
Speaker 4 (25:21):
Yeah, I love that story because it's so entertaining, and
the saga the bromance, just.
Speaker 3 (25:26):
The bromance, well, the the what happens after a bromance? Yeah,
what is it? Is it? The breakup of the bromance?
I suppose I say, the broke up, the broke up,
the bloke up. Yeah.
Speaker 4 (25:41):
And then there is the ongoing Epstein files, which must
keeps talking about as well on X and now these
fake pictures of Trump with Epstein.
Speaker 3 (25:50):
It's quite extraordinary that at the absolute highest levels of
government this is what's going on. Absolutely and business remarkable over.
Speaker 4 (26:00):
So, I scored you very well for that, Sean. I
think that was your best category. Twenty out of twenty four.
Speaker 2 (26:04):
Ah jus half he's left ahead.
Speaker 3 (26:08):
Had Adam going that one though not so good.
Speaker 4 (26:10):
I've imagined that he got seventeen out of twenty four.
Speaker 3 (26:14):
Hang on, so I've been doing the maths, so it's
to too on the storycount. But but I'm afraid there
is a very clear cut up by one point.
Speaker 4 (26:24):
How are you calculated in your head already?
Speaker 2 (26:26):
Well, it was pretty easy.
Speaker 3 (26:29):
And he's abusing you. Now that's not fair.
Speaker 2 (26:31):
No, very well, we're all we're all got an economics background.
We ought to be able to add and subtract.
Speaker 3 (26:37):
Right, some of us actually could call themselves an economist,
and two of us can't. Let's be honest about that, tourists.
That is fantastic, down and thank you very much. I
was sort of dubious about you judging. Now he's to
be known because you gave Michael a win last week
and Michael never wins. But now changed, I've changed my
mind totally.
Speaker 2 (26:57):
Yeah.
Speaker 3 (26:57):
I think he's a reflection.
Speaker 2 (26:58):
It's a full context for isn't it.
Speaker 3 (27:01):
I'm out, Ah, thank you very much. Sorry, you're doing
a sign out, not me.
Speaker 4 (27:06):
You have you enjoyed it, Diana, It's been fantastic. Thank
you for having me.
Speaker 1 (27:10):
We've loved having you here. We hope to get you
back again soon. So thank you, Diana. That was Deana Massen,
a special guest judge and deputy Chief economist of a MP.
Make sure you're following the podcast. Join us on LinkedIn, Instagram, TikTok, Facebook,
and X.
Speaker 2 (27:24):
I'm Adam.
Speaker 3 (27:24):
Hold on, hold on, Adam. You've got to say goodbye
to me too.
Speaker 2 (27:27):
Oh sorry you yeah, bye, Sean. I want bye bye
to the winner.
Speaker 4 (27:33):
By one point.
Speaker 2 (27:35):
Win's a win.
Speaker 1 (27:36):
We call that a landslide here. Make sure you're following
the podcast. Join us online on LinkedIn, Instagram, TikTok, Facebook,
and X.
Speaker 2 (27:42):
I'm Adam Lang. And that was the weekend edition by
Fear and Greed Business News. We hope you have a
great weekend
This is the weekend edition of Fear and Greed business
news you can use.
Speaker 2 (00:10):
I'm Adam Lane, and good morning, Sean Aylmer.
Speaker 3 (00:12):
Good morning a Dan Ski. Very unusual position for me
to be a very You're normally the judge that I'm abusing,
but alas that's not the case today.
Speaker 2 (00:22):
No, the abuse will remain, of course.
Speaker 1 (00:24):
So this is our weekend show and it's all about
two people, in this case us nominating what we think
is the biggest story of the week, the most remarkable story,
a mystery category story, and our favorite story of the week.
And it is a competition, Sean. There is a winner
and there is a loser. So every week we're joined
by a judge to pick a winner. And with Michael
on leave this week, I'm stepping into the arena to
(00:46):
compete again. So we needed a guest judge, and after
ruling with an iron fists last week, I'm pleased to
say we have returning judge Diana Messina AMP Deputy Chief Economist, Deanna.
Speaker 2 (00:59):
Welcome back to Fear and God.
Speaker 4 (01:00):
I can't believe you asked me back.
Speaker 3 (01:02):
I feel at a disadvantage here because the best part
of the weekend edition for me is abusing the judge.
Now that's normally Adam, so I feel very comfortable of
using Adam. However, Diana, you're such a nice person, and
you know I've known you for a long time, and
I just don't think I can abuse you. But I'm
going to Okay, That's all I wanted. I just wanted
(01:23):
to green night gloves.
Speaker 1 (01:25):
Are off, all right. The biggest story of the week, Shaun,
Shall I go first?
Speaker 3 (01:28):
You go first?
Speaker 2 (01:29):
All right for me, Diana.
Speaker 1 (01:31):
RBA no interest rate cut is the biggest business story
this week, as a Reserve Bank of Australia's decision to
hold the cash rate at three point eighty five percent
came in. This move surprise markets and caused query of
the RBA's communication style, with Governor Michelle Bullock facing scrutiny
at a media conference over the lack of guidance in
(01:51):
the lead up. The RBA governor conceded the obvious. Under
this new regime, she can't preempt the board's decisions or
guide expectations between meetings, and as Bloomberg reported, this silence
has rendered mid meeting Central Bank communication effectively moot, and
has noted on the very esteemed amp Insights Hub and
(02:11):
this may have been. In fact, Diana Messina herself.
Speaker 3 (02:14):
Sucking up this morning is outrageous. Can we panalize in
for sucking up?
Speaker 4 (02:19):
No, I actually gave more points for.
Speaker 3 (02:21):
That last ouch.
Speaker 2 (02:22):
Go on lovely.
Speaker 1 (02:23):
Despite the easing inflation, high interest rates, and economic uncertainty,
they are remaining key risk factors.
Speaker 2 (02:29):
For investors now. The next key test.
Speaker 1 (02:32):
Comes with the June quarter inflation data on thirty July,
but for now, the RBA is clearly holding its nerve.
It was big news this week with a twist and
a dash of salt, and that's why this is the
biggest business story of the week.
Speaker 3 (02:46):
Can I say nothing happened biggest story of the week.
Do you know when I was a journalist and I
had a great editor, a guy called Glen Birch who
truly was a great news person. Yes, and he sort
of I'd come with him a great story, but nothing happened.
And it's true, Adam, big news story of the week.
Nothing happened so important, what a spectator. So that's why
(03:08):
it's the second biggest story of the week. Diana, don't
look at me like that. I'm very put off by
you already bring back, Michael. What really matters this week, right,
that really honestly matters as opposed to nothing happened, is
a Liberation Day tariff started being implemented. It began, well,
(03:28):
these weren't even Liberation Day tariffs. We've got fifty percent
on copper that kind of slightly came out of the blue.
Hit the local miners. Though, BHP and Ria may win
out of this because they've got a JV in the
US called Resolution Copper Resolution Copper Massive massive mind, well sorry,
potentially a massive mind twenty five percent of US's copper
needs potentially unfortunately can't get through some of the protocols,
(03:53):
at least unfortunately for real BHP shareholders, So we'll see
how that goes. They may actually win out of this tariff.
Then we had the streadths of turn of percent tariffs
and pharmaceuticals that hit THESEL. A bit tricky for the
government this one, because the Pharmaceutical Benefit Scheme subsidizes medicines.
Might be a great idea. I mean, I'm all for
the PBS, but it definitely is protectionism. I'm waiting to
(04:15):
see if Deanna agrees with me on that. I'm she's
sort of smiling. Sure, she's either saying you're a dickhead
or she is saying, yes, yes, I agree. Can't tell.
I'm trying to tell my points, keep outing, keep adding.
I mean that the whole pharmaceutical benefit scheme is a
reason Donald Trump can pick on Australia. So that's really relevant.
(04:36):
Trump also hit Brazil with fifty percent tariffs. Now, previously
Brazil had a ten percent tariff, and then Trump decided
that we not much to do with the economics. More
about the treatment of former leader and Trump ally Ja Bolsonaro.
Also how the Latin American country is treating big tech,
big tech issue for Australia, how we treat big tech.
So Brazil went from ten percent to fifty percent. Then
(04:58):
late in the week, Trump talked about having I think
at tariff's of fifteen to twenty percent. He's already whacked
a bunch of countries like Japan, South Korea, myen maar.
Canada got it late in the week. Just this is
the bigges story of the week because something actually happened.
He put tariffs on. Oh god, I don't look like
the way you're looking at it.
Speaker 4 (05:15):
Your markets are a record high.
Speaker 3 (05:18):
That's not what Adam said. Adam said, nothing to do
with share markets. In fact, you just hold that point
because we've talked about that later from the show. What
you have to judge. What you have to judge, Diana,
is my excellent tariff story actually happening stuff like that verse.
Nothing happened laying over there over to year.
Speaker 4 (05:38):
So my criteria from last week hasn't changed.
Speaker 3 (05:41):
The fire I didn't have the criteria, wasn't he last week?
Speaker 4 (05:43):
You should have listened, You should have gotten to know your.
Speaker 3 (05:46):
Guest judge, breaking your box, Shawn go on.
Speaker 4 (05:48):
So there are five key things I was looking for.
One relevance to timeliness, three is it unexpected or rare?
For the economic and financial market impact, and the entertainment
factor For the RBA story, Adam, I thought that that
was really unexpected, so I gave you five out of
five for that particular bit. I actually also gave you
(06:08):
additional marks for the sucking up, which I really liked.
But the economic and financial market impact I gave you
one out of five because financial market Ozzie dollar didn't
move really well a little bit the end of the week.
So eighteen out of twenty five.
Speaker 2 (06:25):
I think that's my highest score ever.
Speaker 3 (06:28):
Last week.
Speaker 4 (06:28):
Actually, yeah, sure, the liberation dead tariffs were they unexpected?
I think we thought that we would get something this week,
given that the ninth of July deadline was coming up.
Speaker 3 (06:39):
Oh you might, ever, I didn't.
Speaker 4 (06:41):
The letters started going out the end of last week.
There was a bit of entertainment factor in there. No
sucking up fourteen out of twenty five.
Speaker 3 (06:49):
Ouch. Bang, I'm not liking this UD.
Speaker 2 (06:54):
So remember the sucking up?
Speaker 3 (06:55):
Sure, I remember the sucking up. Right, Let's move on
to the most remarkable story. I think then, I actually,
because I've got some serious sucking up to do. Because
did you mention financial markets being at record high as
a moment ago down?
Speaker 4 (07:08):
I did?
Speaker 3 (07:09):
Ah, let's talk about that. What is remarkable asset prices
and I'm going to nodding of the head here out
and see that I'm liking it. I'm going to tell
the story with three specific assets. One en video the
chip maker. It closed yesterday over four trillion US dollars
(07:31):
in value. That's about six point one six point two trillion, Ossie.
Never has a company closed that high? Why? Well, we
all love the whole chip story, and some of its
clients are spending I think three hundred and fifty billion
over the next little bit, boosting their AI capacity. Also,
the big tech guys are sort of back online, so
(07:52):
they had a bit of a rough trot. Then the
tariffs were implemented. The tariff stuff the biggest story of
the week stuff. Yep, the tarifts are implemented and big
tech isn't really hit with tariffs, so that's why kind
of investors are liking them. Again. So Nvidia's share price phenomenal.
The next one Bitcoin that's a risk asset, right yet
it pushed beyond one hundred and sixteen thousand US dollars
a unit. How does that work in a risk asset?
(08:14):
I don't know. Of course, that came alongside Wall Street
hitting record highs. The local one I want to throw
in this into this story is Promedicus, which might be
more of a stock specific story, up one hundred and
forty percent in the past year. The way I think
of Promedicus because it basically brings X rays into the
twenty first century, not so much the taking of X rays,
(08:35):
but the transmission and the ability to diagnose issues using
their software, their visage software. It's now top twenty stock,
bigger than Santos Cole's area twice the size of Quantus
Phenomenal asset prices right now, as per Nvidia, Bitcoin Promedicus,
are crazy high. That would be my call, because we
(08:57):
have so much uncertain Do you remember, you know the
the best times worst of times was We don't know
whether it's best of the times. It might be the
worst of times. We're not sure. Still, we have these
asset prices so incredibly high, absolutely remarkable a Dansky over.
I liked the way down. I was nodding her head,
(09:17):
smiling as I up against it. I'm clear, reckon, you
might have to come up with a good one.
Speaker 1 (09:22):
Against it, all right, So different twist on the most
remarkable story of the week, Dana.
Speaker 2 (09:27):
My pick this week is.
Speaker 1 (09:29):
The surprise twist in the Chris Ellison saga at Mineral Resources.
Speaker 3 (09:33):
Aren't you even trying? Come on, come on for a gun.
Speaker 1 (09:41):
So last November, Mineral Resources said Ellison would step down
as managing director within twelve to eighteen months after admitting
to related party tax scheme look at the colorfulness of
this story and using company resources, including staff, for his
private yacht. The board imposed millions in penalties and created
a new governance Committee. But this week that plan hit paused.
(10:04):
Deiana chairman Malcolm Bundy told investors the board is now
reviewing leadership plans in quotes, in the best interest of shareholders.
It's a sharp backflip. It's a slip sharp.
Speaker 3 (10:18):
I think, he said, I think you back flick. Backflip
is actually quite an effort shark backflick.
Speaker 1 (10:24):
I like that sharp backflip, despite assex ongoing investigations. So
what makes this so remarkable is Ellison's staying power. He
remains the largest Shell shareholder with eleven and a half percent,
and he's backed by major investors like l One Capital.
Speaker 3 (10:39):
Do you reckon the fact that he's eleven percent shareholders? Actually,
why they're doing the backflip?
Speaker 2 (10:44):
I look only in part I think they.
Speaker 3 (10:46):
Believe, Adam you are such a such a positive person.
Speaker 1 (10:51):
Only in part because I think the others, including one,
must believe that he's the best leader for the company
despite what's happened before. True, it's rare to see a
company reverse course on governance this publicly, and with MinRes
carrying a five point eight billion dollar debt, a soft
lithium market, and safety issues in the pilbra. This spilight
(11:12):
is only getting brighter. It is fascinating corporate wriggling in
real time. And that's why this is my most remarkable
story of the week before.
Speaker 3 (11:21):
The Anna Taksh I want you to know she smiled
more during mine than yours.
Speaker 4 (11:26):
So was there an impact to the share prize?
Speaker 2 (11:29):
None?
Speaker 3 (11:31):
It has been gone down, to be honest, It's almost
the worst performing stock over the last twelve months. God
that I'm adding to Adam's story, damn it. And this
did it did pick up after so I'm just filling out.
It did pick up a bit after the fact because
the fund is love Chris Ellison. But there's just governance issues.
(11:53):
Not that I'm telling you that because I want you
to go for my story.
Speaker 2 (11:56):
It's for the audience's benefit.
Speaker 4 (11:59):
I'm going to give it to Sean seventeen out of
twenty five.
Speaker 3 (12:02):
It's hard for you to give that to me, wasn't it?
Speaker 4 (12:04):
It wasn't It was not easy. I've only got thirteen
out of twenty five. I've got whated yeah, thirteen. So
it's probably just a bit of my own personal bias.
I don't really like the corporate stories unless they have
a really big market impact. I mean there's just there's
always just so many to keep on top of. And
(12:25):
I guess my time is more spent looking at look
at the school, look at the economics and the financial
market impact. So it's probably a bit of personal bias
involved in that one.
Speaker 2 (12:34):
We were one on personal bias in the first one.
Speaker 4 (12:37):
And I do think that it is remarkable that equities
don't care about tariffs this week.
Speaker 3 (12:43):
It's amazing, all right.
Speaker 2 (12:45):
It's half way sean one each one.
Speaker 3 (12:48):
And because we're because we have a judge that actually
is half decent. This week, we're actually getting a running score. Now.
I don't know whether you took much notice, but it's
actually all tied up on the score numbers. Well, I
think it's thirty one thirty one or something like that.
I just the top of my head, that's what I
think it was. But it's about that. I think it's
thirty one thirty one. Not that I'm competitive or anything here,
(13:09):
that's right.
Speaker 4 (13:10):
But do I have the discretion to add our subtract
points at the end as well?
Speaker 2 (13:14):
Come to cover coffee anything so blatant.
Speaker 1 (13:18):
We'll be back in a moment with the rest of
the weekend edition. Welcome back to the weekend edition and Sean,
it's time for our mystery category and this week, why
don't you tell.
Speaker 2 (13:33):
Diana what category we've gone?
Speaker 3 (13:35):
Well, it's basically our favorite ancient history business story of
the week. A little obscure, we agree.
Speaker 4 (13:43):
I was hoping for the mushroom story.
Speaker 3 (13:45):
Ah, how do you come up?
Speaker 2 (13:47):
Now?
Speaker 3 (13:48):
This is a great question when you're a business podcast.
How do you cover the story that is kind of
like the biggest story, that the only story anyone's talking about.
It's quite difficult. You know, we didn't really do much.
We should have done stuff on the price of mushrooms, maybe.
Speaker 4 (14:03):
The apparently the demand for mushrooms has gone down.
Speaker 2 (14:07):
Of course people are surprising.
Speaker 3 (14:09):
Yeah, well kind of mushroom? Is that shit? Ducky?
Speaker 2 (14:14):
Right? Oh, that's a bit ancient business story of the week? Sean,
shall I go first?
Speaker 3 (14:19):
Nostright? I know yours? Are you a history.
Speaker 4 (14:27):
Buff like ancient history? Probably not?
Speaker 3 (14:33):
Okay, but narrow it down. These are both ancient history stories.
What part of the world are you more interested in?
So the South America, the European Europe? Europe bringering, thank
you very much. Do you know one of the truly
great artworks of European history, possibly the greatest. And it's
not the main Elesa. I get that. That's pretty good.
(14:55):
Do you know what it is? The Bayou Tapestry. The
Bayou Tapestry embroidered medieval artwork, a masterpiece. It depicts the
Norman conquest of England in ten sixty six. Why that
is so important is that's actually the time that the
Normans came and conquered the UK. Or these Normans, which
(15:17):
are French people the north of France, came over. They
kind of took over the land and created England out
Britain as we know it. So it's kind of the
beginning of Britain as we know it. Harold Godwinson Godwinson,
he was a guy who was sort of running Britain
up until that time. But there are a bunch of fiefdoms.
The Battle of Hastings occurred, William the Conqueror came over.
(15:37):
We got the UK. Now we don't know a lot
about it except for the Bayu Tapestry, which was done
I believe it was done by William's half brother in
the years afterwards. It's seventy meters long. It depicts the
battle and it's been sitting in France for a mere
nine hundred and sixty years. Well, this week Emmanuel Macron
(15:59):
and kissed Arma met and Manual more Crimes said, we
will learn it to the British Museum, so you guys
can have this Bayu Tapestry, which probably rightfully belongs in
the UK. Not with the UK steals everything from everyone else,
you know, the Greeks, the Romans, the whole lie, right,
But in this instance the French have taken something from
the Brits and they're giving it back on lane to
(16:20):
the British Museum. Just the fact that the Bayu Tapestry
is in the news this week, that is just fantastic.
It is the only proper record of perhaps the greatest
battle of English history, because it changed Britain more than
any other battle ever did. And I just think it's
a great story. Subjective bias, Come and give me a
(16:42):
bit of ancient history from Europe.
Speaker 1 (16:44):
Adam, Well, I'm going to sort of take a little
step around the globe Sean to per Peru.
Speaker 3 (16:52):
Which part of Europe is from.
Speaker 2 (16:54):
It's not it's from South America.
Speaker 1 (16:57):
But in particular for a business new podcast, Sean, this
is perhaps one of the oldest known market economies.
Speaker 3 (17:05):
Now, oh nice, Yeah, that's nice.
Speaker 1 (17:07):
That's so my favorite ancient business story. This week takes
us to Panico, Guiana. Panico, a three thousand, five hundred
year old city just discovered in northern Peru, located two
hundred kilometers north of Lima. Panico is believed to have
been a major trading hub linking the Pacific Coast, the
Andes and the Amazon community. So this process has been
(17:29):
amazing eight years it's taken to uncover these eighteen structures.
It includes temples, residences, clay sculptures, beautiful beaded jewelry, animal figurines,
and the city. It is estimated dates back between eighteen
hundred and fifteen hundred BC and is seen as a
continuation of the Caeral civilization, the oldest known in the Americas.
(17:52):
So lead archaeologist, doctor Bruce Shady says, tiguous, not slim.
Speaker 3 (17:57):
That's quite the name for an archaeologist.
Speaker 1 (17:59):
This is the real droptory Shady, please stand up, says
Pernico helps explain what happened to Corral afterwards, hit by
climate change. The site strategic location and reach rich cultural
finds show just how advanced and interconnected these early early
civilizations were in this market economy. So what we have
ancient trade routes, religious centers, cultural exchange, and a market
(18:22):
economy that dates back over three thy five hundred years.
And that's why it's my favorite business story from the
ancient Times of the week.
Speaker 3 (18:30):
Excellent down. I have a question, do you ever wonder
how they just come across an ancient city? It's only
two n in kilometers north of Lima? Yeah, I presume so,
I just it's kind of still it's kind of amazing,
amazing that we haven't uncovered I mean, Pompei and a
few of those little examples. Yeah.
Speaker 4 (18:52):
Anyway, both stories that were both interesting, very close marks
actually in this in this round. But I like the
economic market economy, you know, till.
Speaker 3 (19:02):
No one's laughing at this, Adam.
Speaker 4 (19:03):
I gave you fifteen out of twenty five sean thirteen
out of twenty.
Speaker 3 (19:08):
Inchigerhead, albeit a temporial tapestry, gets like fifty four percent,
thirteen out of two five. Yeah, welcome to the new
your head in shame, Dana, I mean, come on, I
have turned.
Speaker 4 (19:23):
This is maybe if you pay for us to go
to the British Museum and see the bay tapestry and
we could, we could.
Speaker 2 (19:31):
It's an international we won't.
Speaker 3 (19:33):
Of market economy, we might help, but after that judgment
thirteen out of twenty five for the Bauten, you've got
no chance.
Speaker 2 (19:39):
Come on, Sean, we've got to finish here. Favorite story week,
all right, Diana, this.
Speaker 1 (19:46):
Is my favorite story of the week, and it's about
the growing recognition of mental health not just as a
medical issue, but as an economic one. According to new
figures released for the first time by the Council of
Australian Life Insurers, life insurans paid out a record record
two point two billion dollars in mental health claims last year,
and that's double the amount from five years ago. Nearly
(20:07):
half of all of all life insurance payouts in twenty
twenty four were actually related to mental health conditions like anxiety,
PTSD and depression, which to me shockingly is a study
that showed the permanent disability claims by those in their
thirties increased by more than seven hundred percent in the
decade to twenty twenty two. That's seven hundred percent for
(20:30):
people thirty or under who are now saying that they
can't work anymore through these injuries and that now comprises
more than a third of all such claims. Now, in
my view, we've never treated mental illness with the same
seriousness as physical injury. It's harder to see and often
harder to treat, but we are getting there. While this
is a fiscal warning about the real costs of health,
(20:52):
it's also about recognizing a growing crisis in Australia and
around the world.
Speaker 2 (20:55):
And that's got to be good.
Speaker 1 (20:57):
Yes, premiums may rise, but there's a growing greater good
becoming clearer. We need to be better at supporting mental
health and people's well being. We need to better recognize
the pressures that people actually face. And this started from
the insurance industry highlights that and that's got to be
a good thing. And that's why it's my favorite business
story of the week.
Speaker 2 (21:16):
Sean, you cheat, good luck, you cheat?
Speaker 3 (21:20):
How dare you come up with a worthy story on
the last story of the day? I mean, the whole
idea is that we have a laugh here and how
can how can I argue against it is so much
an important issue? So like I just can we disqualify
him from being too worthy, being too nice, too important,
too relevant, any of those things?
Speaker 4 (21:39):
Well, there is a massive economic impact here because of.
Speaker 3 (21:42):
The healthcare budget don't help him.
Speaker 4 (21:45):
And then and the and the growing reliance on the NDIS,
and that's now the largest cost to the budget, basically
even more than Medicare. I mean outside of welfare payments
and age.
Speaker 3 (21:58):
Interest payments, and it's more than payments at the moment. Anyway,
I'm moving on.
Speaker 2 (22:04):
This is me slowly.
Speaker 3 (22:07):
I'm in trouble. I mean, what's been most entertaining this week?
Speaker 4 (22:10):
But I gave Adam very low points for the entertainment
factory excellent?
Speaker 3 (22:16):
What's more entertaining? Then then the great man himself, Elon
must Oh.
Speaker 4 (22:22):
I like it, already have a soft spot for Elon.
Speaker 3 (22:28):
So Donald Trump, former pal, signed the One Big Beautiful
Bill Act last weekend, nine hundred page bill four point
five trillion in tax cuts.
Speaker 4 (22:38):
Hang on, that was an audible ye no, because I
know what, I know where the story is.
Speaker 3 (22:44):
It's good. So you know that Trump's twenty seventeen tax
cuts again become permanent deductions for tips, which is really
big big thing for many workers in the US. Overtime
order loan seniors, boost military spending, and imposes deep cuts
to safe net programs medicaid, food assistance and all that.
Elon Mask a doge man from wayback, one of the ogs,
(23:08):
one of the og doge, although given that the dog
has only been around six months, being an og probably
doesn't mean that much. However, he is the doge man. Well,
isn't he dirty about it? He basically said, it's going
to add nearly three point three trillion dollars to the
national debt over the next decade. So he's going to
(23:29):
launch the incredibly well named America Party. You can see
the ads already, can't you care. It's sort of like
that's exactly where it is. They'll be yellow everywhere. America
Party slightly lacking in detail. I must say, mister Trump
hasn't given us too much detail on it. On x
(23:49):
he wrote, and I quate him by a factor of
two to one. You want a new political party, and
you shall have it. It's a bit like the Messiah,
isn't it really? When it comes to bank bankrupting our
country with waste and graft. We live in a one
party system, not a democracy. The Democrats probably disagree with that,
but that's all right, he said. When I would say
(24:11):
today the America Party is formed to give you back
your freedom. Robert the Bruce trumpet back pretty quickly, he
said he was, and I quite saddened to watch Elon
Musk go completely off the rails, essentially becoming a train wreck,
train wreck and caps of course over the past five weeks. Now,
of course, this reminds me of Ross Perret, those who
(24:32):
are like us politics, the billionaire, the textan I think
he was. He ran the Reform Party in nineteen ninety two.
It actually Ross.
Speaker 2 (24:40):
Perot Paroh for president. I remember the bumper stickers Paro
for president.
Speaker 3 (24:44):
He wasn't totally mad Ross Perot, you know, which is
probably me comparing him to task. He got nine a
percent of the vote back then. He actually helped Bill
Clinton because he was a right he was a conservative.
He actually pulled votes away from George Bush Senior, George H. W. Bush,
(25:05):
and he helped Bill Clinton beat George H. W. Bush.
I don't know that this is actually going to come
to pass, but in terms of my favorite story for
the week, how entertaining, I mean, this is just admittedly
it's ongoing the fight between the two, but bring on
the America Party.
Speaker 4 (25:21):
Yeah, I love that story because it's so entertaining, and
the saga the bromance, just.
Speaker 3 (25:26):
The bromance, well, the the what happens after a bromance? Yeah,
what is it? Is it? The breakup of the bromance?
I suppose I say, the broke up, the broke up,
the bloke up. Yeah.
Speaker 4 (25:41):
And then there is the ongoing Epstein files, which must
keeps talking about as well on X and now these
fake pictures of Trump with Epstein.
Speaker 3 (25:50):
It's quite extraordinary that at the absolute highest levels of
government this is what's going on. Absolutely and business remarkable over.
Speaker 4 (26:00):
So, I scored you very well for that, Sean. I
think that was your best category. Twenty out of twenty four.
Speaker 2 (26:04):
Ah jus half he's left ahead.
Speaker 3 (26:08):
Had Adam going that one though not so good.
Speaker 4 (26:10):
I've imagined that he got seventeen out of twenty four.
Speaker 3 (26:14):
Hang on, so I've been doing the maths, so it's
to too on the storycount. But but I'm afraid there
is a very clear cut up by one point.
Speaker 4 (26:24):
How are you calculated in your head already?
Speaker 2 (26:26):
Well, it was pretty easy.
Speaker 3 (26:29):
And he's abusing you. Now that's not fair.
Speaker 2 (26:31):
No, very well, we're all we're all got an economics background.
We ought to be able to add and subtract.
Speaker 3 (26:37):
Right, some of us actually could call themselves an economist,
and two of us can't. Let's be honest about that, tourists.
That is fantastic, down and thank you very much. I
was sort of dubious about you judging. Now he's to
be known because you gave Michael a win last week
and Michael never wins. But now changed, I've changed my
mind totally.
Speaker 2 (26:57):
Yeah.
Speaker 3 (26:57):
I think he's a reflection.
Speaker 2 (26:58):
It's a full context for isn't it.
Speaker 3 (27:01):
I'm out, Ah, thank you very much. Sorry, you're doing
a sign out, not me.
Speaker 4 (27:06):
You have you enjoyed it, Diana, It's been fantastic. Thank
you for having me.
Speaker 1 (27:10):
We've loved having you here. We hope to get you
back again soon. So thank you, Diana. That was Deana Massen,
a special guest judge and deputy Chief economist of a MP.
Make sure you're following the podcast. Join us on LinkedIn, Instagram, TikTok, Facebook,
and X.
Speaker 2 (27:24):
I'm Adam.
Speaker 3 (27:24):
Hold on, hold on, Adam. You've got to say goodbye
to me too.
Speaker 2 (27:27):
Oh sorry you yeah, bye, Sean. I want bye bye
to the winner.
Speaker 4 (27:33):
By one point.
Speaker 2 (27:35):
Win's a win.
Speaker 1 (27:36):
We call that a landslide here. Make sure you're following
the podcast. Join us online on LinkedIn, Instagram, TikTok, Facebook,
and X.
Speaker 2 (27:42):
I'm Adam Lang. And that was the weekend edition by
Fear and Greed Business News. We hope you have a
great weekend
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
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.