December 5, 2025 • 32 mins
Good news for the economy, a huge week in politics, and a few revelations that don't quite pass the pub test. Sean Aylmer and Michael Thompson go head to head on the top business stories of the week, with Adam Lang picking a winner in a fierce debate.
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Episode Transcript
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Speaker 1 (00:06):
This is the weekend edition of Fear and Greed business
news you can use. I'm Michael Thompson and good morning,
Sean Alman.
Speaker 2 (00:12):
Good morning, Michael.
Speaker 1 (00:13):
Sew on our weekend Joe's all about the two of
us each nominating what we think is the biggest business
story of the yawn in the middle of the non
do that. No, what I was doing was limbering up, Sean.
I was I was stretching. I was stretching.
Speaker 2 (00:29):
Apologies.
Speaker 1 (00:29):
That's all right, apologies, because this is a battle. You
need to limber up for this because we are going
head to head to decide the biggest story of the week,
the most remarkable story of the week, a mystery category,
and our favorite story. We are joined by a judge
to pick a winner every week, and that judges our
Fear and Greed colleague Adam Lang Adam, good morning.
Speaker 3 (00:49):
Good morning, Michael, Good morning Sean. Adam.
Speaker 1 (00:51):
Do you have criteria you're looking for this morning? I
ask you that knowing that you have criteria, They're the
same criteria every week. But just in case as someone
listening today that goes, what is what's this fella looking for?
Take us?
Speaker 3 (01:01):
Okay, economic impact, That's what we want from our stories
of the week topicality and timeliness. Of course, a little
bit of playing to my subjective bias would be nice.
And the strong suit of melodrama strong suit for one
of you.
Speaker 1 (01:15):
Anyway, it's worth like three percent of the overall score,
as you've revealed recently, when I gave everything to melodrama
and you just it meant nothing to you, meant wuld.
Speaker 3 (01:26):
Be that high.
Speaker 2 (01:27):
Here we go, Well, cad No, I was going to
go into this thing about how you always get these
high marks and your stories are crap, but the melodrama
is great, So melodrama must be actually rated fairly highly.
But I don't know, you know what. I couldn't be
bothered going there.
Speaker 1 (01:44):
It's too early to get bitter, Sean. Just give us
your bigger story.
Speaker 2 (01:49):
The economy. The economy. The economy GDP figgs this week
expanding and a two point one percent clip consumers, business,
government all driving growth. The bad news is and fation
pressures are rising. Forget the idea of an interest rate
cut anytime soon. In fact, the market's priced in chance
of an interest rate high in February and definitely by
(02:13):
the end of next year. Growth for the quarter was
zero point four percent, fueled by highest spending in businesses,
particularly data centers. What was probably most interesting about this
the number itself was solid without being great, but there's
this reduction in inventories and just the way that the
GDP accounts are put together. A reduction in inventories people
(02:36):
are selling more stuff. You would think would be a
plus for the GDP, it's actually a minus minus zero
point five. So if you had that as flat, you
would have would have had a quarterly growth rate of
zero point nine percent. Annualize that what you're at three
point six percent. Wow, you have an economy on the
(02:58):
way up and running. We then had a household spending
data that was really strong that came in on Thursday,
just under one percent for the month of October, very
very strong. In fact, you just got this economy flying.
And forget interest rate cats. People are now starting to
talk about interest rate hikes done dusted. Inside a mind
(03:21):
and a half the beat that.
Speaker 1 (03:24):
Mickey t goodness me, what clock were you using? That
was not a minute and a half. That was steady, steady, steady.
But a big story. It is a big story, just
a long one. Look, the biggest story.
Speaker 2 (03:37):
No, no, no, no, no, I take offense at that was
actually a minute and twenty one seconds honestly felt a
lot longer. Sure, there we go.
Speaker 1 (03:44):
I'm sorry if time started for you. A heck a
heck of a week in politics, massive, massive for government,
massive for what it means for the future of Australia.
This is big picture stuff. This is not kind of
like piddling the class. No, it's not.
Speaker 2 (04:00):
You just did an omnibus omnibus.
Speaker 1 (04:02):
I mean broadly, you did one story with a couple
of little elements, and that's exactly what I'm doing. So
let me just give you the headlines, Adam, because I
know that you're a You just you want the cake,
not the recipe. Okay. So the federal government announced that
it's going to create an independent agency to manage defense projects.
This is the biggest overhaul of the department in fifty years.
(04:24):
That is half a century. That's five decades. That's a
long time, right. The next the next thing, that's just one.
That would be the biggest story on its own, potentially,
except for then the government finally released its two year
old review into jobs for Mates. This is to deal
with these fears of quote overpaid political hacks one minute
being parachuted into public roles. I'm going to get this on,
(04:46):
but happily. I'm sure we're all encouraged to know that
they've rejected many of the tougher recommendations, So don't worry.
Not too much changes.
Speaker 2 (04:55):
Comingicted, rejected, redacted, rejected, reject. I thought you said redact.
Speaker 1 (05:01):
No, they're rejected. So and you just gave me a
time extension because of your interjection.
Speaker 2 (05:07):
Well you pass my time already.
Speaker 1 (05:10):
Oh God. Just some days, Sean Aylmer just wakes up
and decides I'm going to be a pennant today, and
today is one of those days where you just get
out of the bed and he's like, ah, I'm gonna
be really annoying this morning. This is one of Michael
off the path the next the next elements of this
one story you still going at yes, shut up, Adam.
(05:33):
Health Minister Mark Butler confirmed that Australia is in talks
with Washington about drug pricing, assigned that the US may
be pushing for higher payments under the PBS. Then we
had Richard Miles, Defense Minister saying he has received the
Pentagon's review into Aucust and the US is completely supportive
of the project, which is enormously significant for our economy,
(05:54):
for the future of Australia's defense, because we are going
to spend was at three hundred and something billy dollars
on submarines. Over the next little while, Canberra launched a
ten million dollar ad blitz to promote next week's social
media band for under sixteens, more platforms potentially going to
be added to that, and then a minor one that
came up the extraordinary hundred million dollars spent on a
(06:15):
new website for the Bureau of Meteorology, drawing attention this
week to what one senator described as quote massive feeding
on the public sector by the big consulting firms. I
would love to go into detail on all of these,
but sure, sure, there's a vain three minutes. There is
a vain throbbing minutes for right now, and I'm like,
(06:36):
I don't want to cause some kind of medical episode, Adam,
give us a judge.
Speaker 2 (06:40):
That's that's the only the only reason that's there is
because I actually said the household spending zero point nine
percent or one point three percent of October just a clarification,
in fact, not even a clarification of correction three minutes
no longer now.
Speaker 1 (06:53):
Just drop off. It's been a massive week in politics,
and the thing is, all of these are news stories
that happened. This such a big week for big picture stuff,
all of which shape the future of this great nation.
Speaker 3 (07:05):
Adam, yes, but none of which add up to as
much as Sean's story.
Speaker 2 (07:13):
Unfortunately, we always get these comments saying, oh, Michael, the
man of the people, you've done poorly. It's unfair. How
come Adam is so mean to you? Right? Actually, after
this particular judgment, I actually might join the crowd.
Speaker 1 (07:31):
I have had a couple of conversations this week with
individuals who have come up to me.
Speaker 3 (07:36):
I've been getting some feedback again who have.
Speaker 1 (07:38):
Just direct you are robbed on the weekend edition. And
they're not just being nice. This is a genuinely held opinion.
Speaker 2 (07:46):
They're being a bit nice.
Speaker 1 (07:47):
No. Look, it's the beginning of the coup, Adam. I
guess like these things start just with little comments whispered
in alleyways, and then all of a sudden you're marching
on the streets.
Speaker 2 (08:00):
Suddenly you got Jean val John out there.
Speaker 1 (08:02):
Yes, Ricade, here we go.
Speaker 3 (08:06):
But the GDP number was good, right, and most of
it's coming from the private sector would seem to mean
good news outside of government. And gosh, the household spending
data that's strong too. And so yeah, there's a cost
of living crisis, but really, how bad is it?
Speaker 2 (08:23):
So?
Speaker 3 (08:24):
Could interest rates come up? They can? And that has
to be the biggest story of the week.
Speaker 2 (08:30):
There's a cost of living crisis, but how bad is it? Yeah?
Speaker 1 (08:35):
How bad is it?
Speaker 3 (08:35):
Really?
Speaker 2 (08:37):
Numbers? There's going to be a lot of listeners actually
having a cost of living crisis out there.
Speaker 3 (08:47):
Oh yeah, sure, but the aggregate number is healthy.
Speaker 2 (08:50):
Yeah, But we're not an aggregate, adam. We are individual people.
You in your high flutant house in the high flutin suburb,
in that high flutin city, and it's wonderful country of
Australia that you live in. Might be okay there, right,
you can afford the six dollars cappuccino. Not everyone can.
Let's move on.
Speaker 1 (09:08):
Let's go most remarkable story. I'm going to go first
on this one.
Speaker 2 (09:12):
You go, and there's a theme to this. We have colluded.
Speaker 1 (09:17):
You have to pick your favorite of these two. Right,
Most remarkable was the Boss of the Future Fund defending
the spending of twenty thousand dollars to send his executive
assistant on a hotel scooping trip and one other trip
as well business class flights for two people, two people
(09:40):
to assess accommodation options and negotiate room rates. And Senator
David Pocock I think he said what everyone was thinking,
what we are all thinking. Why couldn't this have been
done over the phone? And he did ask, and I
love this was she checking the firmness of the beds, right, hold.
Speaker 2 (09:57):
On, hold on. These are people, These are people making
decisions with about billions of dollars of our money. They
want to be they want to be well rested when
they're making those calls.
Speaker 1 (10:06):
That's right, that's right, And those decisions that could also
be made over zoom. Who knows CEO Raphael aren't told
centered estimates. The trip delivered savings of thirty thousand dollars
and ensured hotels were in safe places within cities because
you can't look up kind of where a hotel is.
Speaker 2 (10:28):
On Google Maps or anything like. It's just how to
use chat GPT to say is Hell's kitchen safe in
New York?
Speaker 1 (10:34):
And you can't ask someone just on the phone kind
of hey, what's it like around there or anything like that.
No one's ever been there before. It's entirely new thing
she got.
Speaker 2 (10:43):
And I wonder where the EA actually got some sort
of extra extra danger payment for visiting areas that were
potentially dangerous, that were completely uneasy. Yes they have one
dangerous yes, yeah and so, And I love that that
that's saving of thirty thousand dollars. That aren't argued that, hey,
(11:03):
we saved more than we spent in the twenty thousand dollars,
But that is a saving compared to no room rate
negotiation at all, right, and that negotiation could have taken
place over the phone.
Speaker 1 (11:16):
It doesn't need to be face to face.
Speaker 2 (11:19):
This, Can I point something out? Thirty thousand dollars saving,
Let's say they've got ten percent off. Does that mean
we spent three hundred thousand.
Speaker 1 (11:26):
That's a very going over. That is a very good
point this. I think we can all agree this does
not pass the pub test, right, and I know that
Sean's going to have one that may not pass the
pub test as well. Together, you know what we should
have just called this category doesn't pass the pub test.
Rights also questionable on the pub testiness is Aunt's confession
(11:49):
confirmation rather not so much a confession.
Speaker 2 (11:51):
But you know what, maybe it was definitely not a
confession that he.
Speaker 1 (11:55):
Dined at Disney's invitation only Club thirty three. The membership
costs tens of thousands of dollars. This is no normal club,
no kind of knowledge of whether taxpayers paid for it,
or whether Disney paid for it, or who paid for it.
But why was he there? He was there to study
Disney's cultural induction program because the Future Fund is building
(12:17):
its own leadership academy. And again, this is something that
could not have been done remotely. You've got to be
there to absorb the culture of Disney and really feel
that Club thirty three.
Speaker 2 (12:28):
Is Mickey mouse is. They actually need to be seen
and felt.
Speaker 1 (12:36):
You need to put them on your head this one. Yeah,
you cannot put the money ahead remotely. That's a really
good point, Sean, I'm being unfair and I'm being too cynical.
What did you like? What was your most remarkable? Doesn't
pass the pub test story?
Speaker 2 (12:49):
Well, it was the fact that Communications Minister Anika Wells
spent one hundred thousand dollars on three fights to attend
the United Nations General Assembly. I don't mind her again.
At the United Nations General Assembly, she said it was
important meetings that she was attending, and I kind of
have to buy that. Albanizi was over there at the time,
(13:10):
so maybe he could have gone to some of these meetings.
But that's okay. What happened. She was delayed because of
the Optus triple zero outage, so I think it was
two days, possibly three days later. So she brought a
flight for thirty four thousand dollars. Her deputy chief of
staff fought one for thirty eight thousand dollars. Now, the
Online Safety Assistance secretary who had gone two days earlier
(13:32):
twenty two thousand dollars, So one hundred thousand dollars for
three people to fly to the US. Now, my point
here is that's five times as much as Michael's. Both
stories are pretty remarkable, right, so I don't really want
to downplay, but they're most ridiculous that we're spending taxpayer
(13:52):
money on this. But mine is five times as much.
Thirty eight thousand dollars for the deputy chief of staff.
If you look up a busy class ticket to New
York and you want to go this week. It's costing
about sixteen or seventeen thousand. How can you pay thirty
eight thousand dollars? It's and the government would have these
deals with the airlines as well, presumably with quantus. Is
(14:14):
quantus ripping off the government? Is that actually what this
is saying?
Speaker 1 (14:16):
But aren't they compelled to get the best deal of
a they are?
Speaker 2 (14:20):
Actually you're right, yes, yes, best available deal thirty eight
thousand dollars. I mean beyond me, beyond me, and I
mean it doesn't pass the pub tesk. Absolutely outrageous.
Speaker 1 (14:31):
You have to decide which one is more outrageous, Adam,
But just to me, I think you need to look
at the justification for the trip. Was it necessary to
go to this particular destination?
Speaker 2 (14:43):
You decide, Oh, well, I think you should think about
the quantum. Look Michael's justifications miles at least thousands of minister.
Speaker 3 (14:54):
So oh, Jean, you were talking about the story? Was
it Disneyland and imagining?
Speaker 2 (15:00):
Is is that what imagine it is?
Speaker 1 (15:02):
So?
Speaker 3 (15:02):
I wonder if that was the induction program that he
had to go and find out how to be an imagination?
Speaker 2 (15:07):
Maybe, but just the stories?
Speaker 3 (15:10):
What a crock for the unbelievable and just the cultural distance.
Like to answer a question in that basis on behalf
of public money, I think is offensive.
Speaker 2 (15:23):
Adam Lang lashes out.
Speaker 3 (15:29):
So, yeah, Michael, you win on this one. I think
the story is just so fascical that you have to win.
Speaker 1 (15:36):
Yeah, thank you, thank you. I don't think anyone's going
to be both of them.
Speaker 2 (15:40):
Actually I can't even know. I can't.
Speaker 1 (15:42):
That was just a rip up. Okay, good category. That
was fun. We've got some more fun. We've got a
great mystery category coming up after the break. It is
one all quick break back in a moment, Sean, it
is one all. We are now looking for our mystery category.
We change this one every week. So this one, look,
(16:06):
it's it's loosely business news. Ah yeah, I mean well
Spotify is a big business ish yeah right, Spotify and
Australian music and podcasts and all of it. It is business.
So you know what, I take it back.
Speaker 3 (16:18):
A business for the music industry on Spotify.
Speaker 1 (16:23):
Rapped has been released this week.
Speaker 2 (16:26):
Michael, I think we better give Adam some notice here
because as we're doing it, Adam, you need your phone,
you need to go to your Spotify app.
Speaker 1 (16:33):
So the broad context to this is the every year
at this time of year, Spotify and a bunch of
other companies they do their kind of wraps of the year,
and because there is now so much data about what
people are doing online, they're able to get really quite
customized and personalized in terms of what people are consuming.
And so what we found out from Spotify is this
(16:54):
week that the top five music artists streamed by Australians
were all from Offshore, Taylor Swift, Drake, Morgan Wollan, the
Weekend Billie Eilish Uh. Top Australian artist was the Wiggles
Vodka what followed by the kid Leroy and the top
(17:15):
bossie song Riptide by vance Joy Okay, which is twelve
years old but it's just it just keeps going now.
Speaker 2 (17:21):
They had that. They had that version this year that
was based on the rip Tide. Yeah, Michael, you and
I sat in the studios listening to it continually and
it was about mental health maybe or something like that.
Speaker 1 (17:37):
Oh no, that was the other one. The you know
that that as somebody that I used to know song, remember, yeah,
I got yes, And then they did that. There was
another version of that this year, which which was so
hard to listen to. It was like they've rutined a
really good song. And now I realized, I've just elevated
myself into your categories of boomers. I'm not a boomer,
(18:01):
which is why it's so much fun to say it.
Speaker 2 (18:04):
And judging from my Spotify numbers, I am a bit.
Oh I'm seventy two years old, is what they told me.
Speaker 1 (18:12):
Okay, take us through, Sean, what you found out about
your Well.
Speaker 2 (18:17):
I found out that I'm seventy two years old. According
to my listening. I listened more to podcasts and music. Well,
I thought that, but I got my list one hundred
and ninety one genres of music. I didn't realize there
was one hundred and ninety one genres of music that
about eight thousand minutes over the year. Basically, alternative rock
(18:40):
was my top category, followed by pop rap, then new wave,
and then oldies. I'm proud of the fact that oldies
came in at number four. You know, then I'm my
sort of it's sort of embarrassing to look at you.
Drake Nah, nobody to be seen the Weekend, Billie Eilish
(19:01):
Nor em Ah, Yes, David Bowie certainly radio Head absolutely,
You two is in there, The Beatles was in there.
I just I don't know. It didn't make me feel
very good about myself because I just felt old.
Speaker 1 (19:16):
Well, Sean, I need to confess something. So because my
Spotify is it's shared with shared with the kids.
Speaker 2 (19:26):
No no, no, no, no, no, no justifications here mine
is too, yes, but family pack it on spot pack
on Spotify.
Speaker 1 (19:34):
Okay, so no, mine's not a family packed mine as
they just literally listen on the account. And so that
is why my number one most listened to song this
year was that song Golden from the K pop demon Hunters.
To be fair, it was like the most one of
the most listened to songs worldwide because that movie just
(19:55):
I think in Australia it was the most listened to,
so pretty extraordinary. It just keeps going. And then you
were talking about the fact that Ordinary by Alex Warren,
which was the most listened to song around the world,
that was my number two. Okay, again because of the kids,
but and then.
Speaker 2 (20:11):
Always because of the kids.
Speaker 1 (20:12):
The kids, the attitude there are so much atu But
the thing that gets me right is that even with
the kids listening, my older tendencies still just managed to
come through. What was your listening age based on what
you listened to?
Speaker 2 (20:29):
Seventy two?
Speaker 1 (20:32):
So my listening age, Sean was seventy eight.
Speaker 2 (20:41):
Oh, that's made my day.
Speaker 1 (20:43):
My top genres were soft pop, lullaby, indie rock, oldies,
and country. That is an eclectic mix, right is that
is a little bit of everything? Anyway. I just I
really enjoy this for what it tells you about the year.
And you're like, I didn't listen to that much, and
then you suddenly look back and go, actually I did.
(21:04):
And it's nice to see the podcast numbers in there
as well, and it's very reassuring to see that Fear
and Greed was, in fact my most listened to, my
most listened to podcasts. And how good has it been
this week seeing some of the listener posts online as
well about people saying that they have had Fear and
Greed at the top of their Spotify wrapped, which is
(21:24):
actually really very very nice. Adam, Yes, what was yours judging? No?
Speaker 2 (21:31):
Oh no, no, no, you're just telling us we're going
to judge. We're going to see who wins out of this.
Speaker 1 (21:35):
We're judging you, all.
Speaker 3 (21:36):
Right, Okay, So I've opened up my Spotify Listening Club
minutes listened, Top genres, Top genres.
Speaker 1 (21:44):
Was it's gonna be something really kind of unexpect.
Speaker 3 (21:47):
One hundred and fifty nine genres?
Speaker 1 (21:49):
Oh, it's quite limited range.
Speaker 3 (21:51):
Do you know? Okay? New wave rock rock, Yeah, like
the Doobie Brothers, my cad Yes go on, pop, rap,
pop and rock. Jesus quite a narrow band there, really,
isn't it. Top songs, Well, God, should.
Speaker 1 (22:09):
I do this on? Just give us the top three? One?
Speaker 3 (22:12):
Okay, It's My Life by Talk Talk, border Line by Madonna,
and Something About You by Level forty two.
Speaker 2 (22:20):
Oh my god, I'm not sure where to go.
Speaker 1 (22:24):
I don't even know what to say.
Speaker 2 (22:26):
What's your listening age?
Speaker 3 (22:28):
Year fifty nine, so a bit older than me.
Speaker 2 (22:32):
That's it's pretty good.
Speaker 3 (22:34):
Top Artist Tears for Fears, then Fleetwood, Mac, David Bowie, Elton, John,
Michael Jackson.
Speaker 1 (22:41):
Oh that's a good.
Speaker 2 (22:41):
Okay, I'm judging, I'm judging you right. That is pathetic, Adam, pathetic.
Tears for Fears come on, great bend. Half a point
to Michael, half a point to me, agreed, one and
a half, one and a half zero.
Speaker 1 (22:57):
It was. It was a fun exercise. Nothing to do
with bus. So let's bring it back onto business for
a big finale. Sean take a favorite story.
Speaker 2 (23:08):
The illegal tobacco story, mostly because it shows economics in action,
especially the law of diminishing returns. The federal government has
taxed cigarettes and vapes so much that revenue started falling.
We're getting diminishing returns. Now that you would think that
would be a good thing that revenue was falling. You
would think because people are buying less of the product.
(23:29):
That's not the case. Illegal sales have swords, so basically
a supply side policy has led to a drop in demand,
but rather than reducing usage, the substitution effect, another great
economic concept, has kicked in. So legal cigarette and tobacco
(23:51):
sales down about thirty percent according to the ABS, Illegal
tobacco sales surging now. According to the FINN, you can
get a twenty five cigarette pack for six dollars at
a convenience store. If you buy that legally, it's fifty dollars.
Thirty four dollars of that fifty dollars goes in taxes.
If people weren't lining up, then you'd sort of figure
it doesn't matter. But Roy Margan data suggests that eighteen
(24:13):
to twenty four year olds are smoking and vaping more
than ever before. There's also the problem of crime that
comes alongside illegal sales. We have a target of less
than five percent of the population to be smoking by
twenty thirty. Its currently sits at eight point five percent,
responsible for sixty six Australian deaths a day, the leading
cause of preventable death in Australia. And the economics are
(24:35):
showing that the government policy doesn't work. So it's a
really important story because we need to hear about them.
But it just demonstrates how economics can tell you a story.
And I mean the government has to change its policy
on this. There's no way you can keep taxing this
and have such an illegal underground tobacco sales booming and
(24:56):
people starting to smoke again. Cracking story.
Speaker 1 (25:00):
Yeah, no melodrama though that was where was the sixty Michael?
No that I mean? And it is a very serious, serious,
a very serious day. Yeah it is. It is extraordinary
bringing a Michael bringing home. Okay, I was a little
bit torn this week.
Speaker 2 (25:21):
Here we go, it's going to be an omnibus.
Speaker 1 (25:23):
Now it's not an omnibus. I genuinely couldn't decide this
week between Samsung's new trifold phone, which I know got
you very excited this week, sure, and the idea that
you can actually have this phone that folds into three
different parts run once. Yeah, three phones once, ridiculous. The
price of copper hitting a record high.
Speaker 2 (25:42):
You were excited about that. I remember that HP ten
percent in the week.
Speaker 1 (25:47):
Yeah, and Rio tinto to a new record like that?
What what the heck? Huh wow? Copper go nuts? Then
extensions staff now being called reinventors. What on earth is
that could not split them? So I went in a
different direction all together.
Speaker 3 (26:08):
You chose none of them.
Speaker 1 (26:09):
Chose none of them, and instead have chosen the rise
of Giving Tuesday, right, which.
Speaker 2 (26:17):
Is the suck up to Adam?
Speaker 3 (26:18):
Like this.
Speaker 2 (26:21):
Watch me?
Speaker 1 (26:23):
Which is the follow on now from Black Friday and
Cyber Monday. And in the US, just as Black Friday
and Cyber Monday started in the US, Giving Tuesday has
now started in the US, and I'm sure it will
actually spread to here. And it is kind of like
they is, this is a global story, Shawn, because what
happens in the US affects the rest of the world
(26:43):
flow on effects. It is just simple, simple melodrama. This week,
this was highlighted Giving Tuesday, and it's like it is
almost like the antidote to the to the rampant consumerism
right of Black Friday and Cyber Monday. Right philanthropy happening
on the Tuesday this week, Michael and Susan Dell, who
(27:05):
are the founders of Dell Technologies, pledging six point two
five billion US dollars to go to kids in the US,
particularly in lower income areas. It is believed to be
among the largest ever cash donations ever ever to charity.
There's a little bit more to this from next year,
(27:27):
the US Treasury is going to put one thousand dollars
in an investments account for every kid born in twenty
twenty five or later. It's basically during the president's term.
They're being kind of called Trump accounts. The Dell donation,
we'll see an extra two hundred and fifty dollars go
into twenty five million accounts. And these are kids up
to the age of ten. I know I'm not going
(27:48):
to win this category, right because I'm not conceding, but
I'm just saying I can see Adam's face and I
know that he's going to love the listing, the economic this.
Speaker 2 (27:59):
Is going on, and you.
Speaker 1 (28:00):
Stopped listening because you don't care, Sean, you don't care
about the future of children in America. In America, right,
But I actually think this is really cool.
Speaker 2 (28:12):
He's saying, Kings of America, Kim Wilde, Kim wild thank you.
I think so, Michael, I'm trying to make some interest
in this story. Go on.
Speaker 1 (28:21):
I think this for the third time is really really
cool because it potentially sets these kids up first with
a nest egg, right, little nest egg that they can
actually use later on. More importantly, it's a lesson about money.
It's a lesson about investing. It is a lesson about
the power of compound interest, and the earlier you learned
that one, we obviously know that, the better off you're
going to be long term. Okay, this is this is
(28:41):
just a fun, exciting story. It's got generosity, it's got philanthropy,
it's got all of that in there. It's got financial
education and financial literacy. It's got the potential to help
people long into the future. It is a great story.
It didn't get anut.
Speaker 2 (28:53):
Also, it also has a great photo of Michael and
Susan Dell.
Speaker 3 (29:00):
Just happened to be snapped for the occasion.
Speaker 2 (29:02):
No, they were there announcing it. Of course it was presented.
It was the photo they sent out and I looked
at it, were looking like we're sitting there stach And said,
I look at this phone of Michael and Sis and whoa.
Speaker 1 (29:18):
Google it Adam, Yes, Olivia judgment and just remember the
coup is brewing.
Speaker 2 (29:28):
Very good.
Speaker 3 (29:30):
So Michael you win.
Speaker 1 (29:32):
Holy cow, what.
Speaker 3 (29:37):
I thought it was kind of odd and I've forgotten
about it, you know, the Black Friday, Cyber Monday carnival
and then into giving Tuesday. But it's obviously an incredibly
generous donation and it is transformational for these people's lives.
Speaker 2 (29:52):
So can I can I just ask which part of
Michael's story fits your categories? No, I'm not that interesting moving.
Speaker 3 (30:03):
Economic impact of those kids.
Speaker 2 (30:05):
Two and a half to one and a half to zero.
Speaker 1 (30:09):
I love the fact that you have brought Adam into
the scores here so that you didn't lose, you came
second someone else.
Speaker 2 (30:17):
Oh I'm trying to word that out. Is that one
one one and a half one?
Speaker 3 (30:21):
So I gave you yeah half that point? Yeah, So
I think Sean, your story on the cigarettes and vobes
is incredible economic story. Chris Richardson from rich Inside. I
remember when it happened. He called them it was the
dumbest idea ever, right, and I thought, that is a
(30:43):
great summary. You're taxing it way too hard and you're
not fixing the problem. So it is an incredible story.
But I just have to give this one to Michael.
Speaker 1 (30:51):
Good decision. And you know what, that is a decision
that is based on self preservation because you heard the
the rustling of the pitchforks.
Speaker 2 (31:03):
The pitchforks Russell possibly mean leaves that, Russell.
Speaker 1 (31:07):
Yeah, yeah, I mean they're walking through the leaves the people.
The people are walking through the leaves. No, it's good,
it's good. You will live to see another week. Adam.
This is good news. The coup has been.
Speaker 2 (31:18):
Completed, subdued.
Speaker 1 (31:19):
No, no, it hasn't. It's been No. Well, we'll put
that to bed. We're happy with scores. Oh yeah, I
was wrapping up. I was done.
Speaker 3 (31:27):
I won ninety four each.
Speaker 2 (31:30):
Oh well, what hasn't that made mine day?
Speaker 1 (31:38):
Why did you have to do that?
Speaker 2 (31:40):
Adam? That is a shallow Michael, a shallow.
Speaker 3 (31:45):
That.
Speaker 1 (31:46):
Look, you know what I speak for the people, and
I say that sucks, that really sucks. Anyway, I still won.
Let's not forget that you won. You won ninety four
points each.
Speaker 2 (31:57):
You want, all right?
Speaker 1 (31:59):
They thank you, Adam, thank you, Michael, thank you, Sean,
thank you, Adam, thank you Michael. Make sure you're following
the podcast and head to Fear and Greed dot com
today you to sign up for our free daily newsletter.
I'm Michael Thompson. And that was Fear and Greed. Have
a great weekend.
This is the weekend edition of Fear and Greed business
news you can use. I'm Michael Thompson and good morning,
Sean Alman.
Speaker 2 (00:12):
Good morning, Michael.
Speaker 1 (00:13):
Sew on our weekend Joe's all about the two of
us each nominating what we think is the biggest business
story of the yawn in the middle of the non
do that. No, what I was doing was limbering up, Sean.
I was I was stretching. I was stretching.
Speaker 2 (00:29):
Apologies.
Speaker 1 (00:29):
That's all right, apologies, because this is a battle. You
need to limber up for this because we are going
head to head to decide the biggest story of the week,
the most remarkable story of the week, a mystery category,
and our favorite story. We are joined by a judge
to pick a winner every week, and that judges our
Fear and Greed colleague Adam Lang Adam, good morning.
Speaker 3 (00:49):
Good morning, Michael, Good morning Sean. Adam.
Speaker 1 (00:51):
Do you have criteria you're looking for this morning? I
ask you that knowing that you have criteria, They're the
same criteria every week. But just in case as someone
listening today that goes, what is what's this fella looking for?
Take us?
Speaker 3 (01:01):
Okay, economic impact, That's what we want from our stories
of the week topicality and timeliness. Of course, a little
bit of playing to my subjective bias would be nice.
And the strong suit of melodrama strong suit for one
of you.
Speaker 1 (01:15):
Anyway, it's worth like three percent of the overall score,
as you've revealed recently, when I gave everything to melodrama
and you just it meant nothing to you, meant wuld.
Speaker 3 (01:26):
Be that high.
Speaker 2 (01:27):
Here we go, Well, cad No, I was going to
go into this thing about how you always get these
high marks and your stories are crap, but the melodrama
is great, So melodrama must be actually rated fairly highly.
But I don't know, you know what. I couldn't be
bothered going there.
Speaker 1 (01:44):
It's too early to get bitter, Sean. Just give us
your bigger story.
Speaker 2 (01:49):
The economy. The economy. The economy GDP figgs this week
expanding and a two point one percent clip consumers, business,
government all driving growth. The bad news is and fation
pressures are rising. Forget the idea of an interest rate
cut anytime soon. In fact, the market's priced in chance
of an interest rate high in February and definitely by
(02:13):
the end of next year. Growth for the quarter was
zero point four percent, fueled by highest spending in businesses,
particularly data centers. What was probably most interesting about this
the number itself was solid without being great, but there's
this reduction in inventories and just the way that the
GDP accounts are put together. A reduction in inventories people
(02:36):
are selling more stuff. You would think would be a
plus for the GDP, it's actually a minus minus zero
point five. So if you had that as flat, you
would have would have had a quarterly growth rate of
zero point nine percent. Annualize that what you're at three
point six percent. Wow, you have an economy on the
(02:58):
way up and running. We then had a household spending
data that was really strong that came in on Thursday,
just under one percent for the month of October, very
very strong. In fact, you just got this economy flying.
And forget interest rate cats. People are now starting to
talk about interest rate hikes done dusted. Inside a mind
(03:21):
and a half the beat that.
Speaker 1 (03:24):
Mickey t goodness me, what clock were you using? That
was not a minute and a half. That was steady, steady, steady.
But a big story. It is a big story, just
a long one. Look, the biggest story.
Speaker 2 (03:37):
No, no, no, no, no, I take offense at that was
actually a minute and twenty one seconds honestly felt a
lot longer. Sure, there we go.
Speaker 1 (03:44):
I'm sorry if time started for you. A heck a
heck of a week in politics, massive, massive for government,
massive for what it means for the future of Australia.
This is big picture stuff. This is not kind of
like piddling the class. No, it's not.
Speaker 2 (04:00):
You just did an omnibus omnibus.
Speaker 1 (04:02):
I mean broadly, you did one story with a couple
of little elements, and that's exactly what I'm doing. So
let me just give you the headlines, Adam, because I
know that you're a You just you want the cake,
not the recipe. Okay. So the federal government announced that
it's going to create an independent agency to manage defense projects.
This is the biggest overhaul of the department in fifty years.
(04:24):
That is half a century. That's five decades. That's a
long time, right. The next the next thing, that's just one.
That would be the biggest story on its own, potentially,
except for then the government finally released its two year
old review into jobs for Mates. This is to deal
with these fears of quote overpaid political hacks one minute
being parachuted into public roles. I'm going to get this on,
(04:46):
but happily. I'm sure we're all encouraged to know that
they've rejected many of the tougher recommendations, So don't worry.
Not too much changes.
Speaker 2 (04:55):
Comingicted, rejected, redacted, rejected, reject. I thought you said redact.
Speaker 1 (05:01):
No, they're rejected. So and you just gave me a
time extension because of your interjection.
Speaker 2 (05:07):
Well you pass my time already.
Speaker 1 (05:10):
Oh God. Just some days, Sean Aylmer just wakes up
and decides I'm going to be a pennant today, and
today is one of those days where you just get
out of the bed and he's like, ah, I'm gonna
be really annoying this morning. This is one of Michael
off the path the next the next elements of this
one story you still going at yes, shut up, Adam.
(05:33):
Health Minister Mark Butler confirmed that Australia is in talks
with Washington about drug pricing, assigned that the US may
be pushing for higher payments under the PBS. Then we
had Richard Miles, Defense Minister saying he has received the
Pentagon's review into Aucust and the US is completely supportive
of the project, which is enormously significant for our economy,
(05:54):
for the future of Australia's defense, because we are going
to spend was at three hundred and something billy dollars
on submarines. Over the next little while, Canberra launched a
ten million dollar ad blitz to promote next week's social
media band for under sixteens, more platforms potentially going to
be added to that, and then a minor one that
came up the extraordinary hundred million dollars spent on a
(06:15):
new website for the Bureau of Meteorology, drawing attention this
week to what one senator described as quote massive feeding
on the public sector by the big consulting firms. I
would love to go into detail on all of these,
but sure, sure, there's a vain three minutes. There is
a vain throbbing minutes for right now, and I'm like,
(06:36):
I don't want to cause some kind of medical episode, Adam,
give us a judge.
Speaker 2 (06:40):
That's that's the only the only reason that's there is
because I actually said the household spending zero point nine
percent or one point three percent of October just a clarification,
in fact, not even a clarification of correction three minutes
no longer now.
Speaker 1 (06:53):
Just drop off. It's been a massive week in politics,
and the thing is, all of these are news stories
that happened. This such a big week for big picture stuff,
all of which shape the future of this great nation.
Speaker 3 (07:05):
Adam, yes, but none of which add up to as
much as Sean's story.
Speaker 2 (07:13):
Unfortunately, we always get these comments saying, oh, Michael, the
man of the people, you've done poorly. It's unfair. How
come Adam is so mean to you? Right? Actually, after
this particular judgment, I actually might join the crowd.
Speaker 1 (07:31):
I have had a couple of conversations this week with
individuals who have come up to me.
Speaker 3 (07:36):
I've been getting some feedback again who have.
Speaker 1 (07:38):
Just direct you are robbed on the weekend edition. And
they're not just being nice. This is a genuinely held opinion.
Speaker 2 (07:46):
They're being a bit nice.
Speaker 1 (07:47):
No. Look, it's the beginning of the coup, Adam. I
guess like these things start just with little comments whispered
in alleyways, and then all of a sudden you're marching
on the streets.
Speaker 2 (08:00):
Suddenly you got Jean val John out there.
Speaker 1 (08:02):
Yes, Ricade, here we go.
Speaker 3 (08:06):
But the GDP number was good, right, and most of
it's coming from the private sector would seem to mean
good news outside of government. And gosh, the household spending
data that's strong too. And so yeah, there's a cost
of living crisis, but really, how bad is it?
Speaker 2 (08:23):
So?
Speaker 3 (08:24):
Could interest rates come up? They can? And that has
to be the biggest story of the week.
Speaker 2 (08:30):
There's a cost of living crisis, but how bad is it? Yeah?
Speaker 1 (08:35):
How bad is it?
Speaker 3 (08:35):
Really?
Speaker 2 (08:37):
Numbers? There's going to be a lot of listeners actually
having a cost of living crisis out there.
Speaker 3 (08:47):
Oh yeah, sure, but the aggregate number is healthy.
Speaker 2 (08:50):
Yeah, But we're not an aggregate, adam. We are individual people.
You in your high flutant house in the high flutin suburb,
in that high flutin city, and it's wonderful country of
Australia that you live in. Might be okay there, right,
you can afford the six dollars cappuccino. Not everyone can.
Let's move on.
Speaker 1 (09:08):
Let's go most remarkable story. I'm going to go first
on this one.
Speaker 2 (09:12):
You go, and there's a theme to this. We have colluded.
Speaker 1 (09:17):
You have to pick your favorite of these two. Right,
Most remarkable was the Boss of the Future Fund defending
the spending of twenty thousand dollars to send his executive
assistant on a hotel scooping trip and one other trip
as well business class flights for two people, two people
(09:40):
to assess accommodation options and negotiate room rates. And Senator
David Pocock I think he said what everyone was thinking,
what we are all thinking. Why couldn't this have been
done over the phone? And he did ask, and I
love this was she checking the firmness of the beds, right, hold.
Speaker 2 (09:57):
On, hold on. These are people, These are people making
decisions with about billions of dollars of our money. They
want to be they want to be well rested when
they're making those calls.
Speaker 1 (10:06):
That's right, that's right, And those decisions that could also
be made over zoom. Who knows CEO Raphael aren't told
centered estimates. The trip delivered savings of thirty thousand dollars
and ensured hotels were in safe places within cities because
you can't look up kind of where a hotel is.
Speaker 2 (10:28):
On Google Maps or anything like. It's just how to
use chat GPT to say is Hell's kitchen safe in
New York?
Speaker 1 (10:34):
And you can't ask someone just on the phone kind
of hey, what's it like around there or anything like that.
No one's ever been there before. It's entirely new thing
she got.
Speaker 2 (10:43):
And I wonder where the EA actually got some sort
of extra extra danger payment for visiting areas that were
potentially dangerous, that were completely uneasy. Yes they have one
dangerous yes, yeah and so, And I love that that
that's saving of thirty thousand dollars. That aren't argued that, hey,
(11:03):
we saved more than we spent in the twenty thousand dollars,
But that is a saving compared to no room rate
negotiation at all, right, and that negotiation could have taken
place over the phone.
Speaker 1 (11:16):
It doesn't need to be face to face.
Speaker 2 (11:19):
This, Can I point something out? Thirty thousand dollars saving,
Let's say they've got ten percent off. Does that mean
we spent three hundred thousand.
Speaker 1 (11:26):
That's a very going over. That is a very good
point this. I think we can all agree this does
not pass the pub test, right, and I know that
Sean's going to have one that may not pass the
pub test as well. Together, you know what we should
have just called this category doesn't pass the pub test.
Rights also questionable on the pub testiness is Aunt's confession
(11:49):
confirmation rather not so much a confession.
Speaker 2 (11:51):
But you know what, maybe it was definitely not a
confession that he.
Speaker 1 (11:55):
Dined at Disney's invitation only Club thirty three. The membership
costs tens of thousands of dollars. This is no normal club,
no kind of knowledge of whether taxpayers paid for it,
or whether Disney paid for it, or who paid for it.
But why was he there? He was there to study
Disney's cultural induction program because the Future Fund is building
(12:17):
its own leadership academy. And again, this is something that
could not have been done remotely. You've got to be
there to absorb the culture of Disney and really feel
that Club thirty three.
Speaker 2 (12:28):
Is Mickey mouse is. They actually need to be seen
and felt.
Speaker 1 (12:36):
You need to put them on your head this one. Yeah,
you cannot put the money ahead remotely. That's a really
good point, Sean, I'm being unfair and I'm being too cynical.
What did you like? What was your most remarkable? Doesn't
pass the pub test story?
Speaker 2 (12:49):
Well, it was the fact that Communications Minister Anika Wells
spent one hundred thousand dollars on three fights to attend
the United Nations General Assembly. I don't mind her again.
At the United Nations General Assembly, she said it was
important meetings that she was attending, and I kind of
have to buy that. Albanizi was over there at the time,
(13:10):
so maybe he could have gone to some of these meetings.
But that's okay. What happened. She was delayed because of
the Optus triple zero outage, so I think it was
two days, possibly three days later. So she brought a
flight for thirty four thousand dollars. Her deputy chief of
staff fought one for thirty eight thousand dollars. Now, the
Online Safety Assistance secretary who had gone two days earlier
(13:32):
twenty two thousand dollars, So one hundred thousand dollars for
three people to fly to the US. Now, my point
here is that's five times as much as Michael's. Both
stories are pretty remarkable, right, so I don't really want
to downplay, but they're most ridiculous that we're spending taxpayer
(13:52):
money on this. But mine is five times as much.
Thirty eight thousand dollars for the deputy chief of staff.
If you look up a busy class ticket to New
York and you want to go this week. It's costing
about sixteen or seventeen thousand. How can you pay thirty
eight thousand dollars? It's and the government would have these
deals with the airlines as well, presumably with quantus. Is
(14:14):
quantus ripping off the government? Is that actually what this
is saying?
Speaker 1 (14:16):
But aren't they compelled to get the best deal of
a they are?
Speaker 2 (14:20):
Actually you're right, yes, yes, best available deal thirty eight
thousand dollars. I mean beyond me, beyond me, and I
mean it doesn't pass the pub tesk. Absolutely outrageous.
Speaker 1 (14:31):
You have to decide which one is more outrageous, Adam,
But just to me, I think you need to look
at the justification for the trip. Was it necessary to
go to this particular destination?
Speaker 2 (14:43):
You decide, Oh, well, I think you should think about
the quantum. Look Michael's justifications miles at least thousands of minister.
Speaker 3 (14:54):
So oh, Jean, you were talking about the story? Was
it Disneyland and imagining?
Speaker 2 (15:00):
Is is that what imagine it is?
Speaker 1 (15:02):
So?
Speaker 3 (15:02):
I wonder if that was the induction program that he
had to go and find out how to be an imagination?
Speaker 2 (15:07):
Maybe, but just the stories?
Speaker 3 (15:10):
What a crock for the unbelievable and just the cultural distance.
Like to answer a question in that basis on behalf
of public money, I think is offensive.
Speaker 2 (15:23):
Adam Lang lashes out.
Speaker 3 (15:29):
So, yeah, Michael, you win on this one. I think
the story is just so fascical that you have to win.
Speaker 1 (15:36):
Yeah, thank you, thank you. I don't think anyone's going
to be both of them.
Speaker 2 (15:40):
Actually I can't even know. I can't.
Speaker 1 (15:42):
That was just a rip up. Okay, good category. That
was fun. We've got some more fun. We've got a
great mystery category coming up after the break. It is
one all quick break back in a moment, Sean, it
is one all. We are now looking for our mystery category.
We change this one every week. So this one, look,
(16:06):
it's it's loosely business news. Ah yeah, I mean well
Spotify is a big business ish yeah right, Spotify and
Australian music and podcasts and all of it. It is business.
So you know what, I take it back.
Speaker 3 (16:18):
A business for the music industry on Spotify.
Speaker 1 (16:23):
Rapped has been released this week.
Speaker 2 (16:26):
Michael, I think we better give Adam some notice here
because as we're doing it, Adam, you need your phone,
you need to go to your Spotify app.
Speaker 1 (16:33):
So the broad context to this is the every year
at this time of year, Spotify and a bunch of
other companies they do their kind of wraps of the year,
and because there is now so much data about what
people are doing online, they're able to get really quite
customized and personalized in terms of what people are consuming.
And so what we found out from Spotify is this
(16:54):
week that the top five music artists streamed by Australians
were all from Offshore, Taylor Swift, Drake, Morgan Wollan, the
Weekend Billie Eilish Uh. Top Australian artist was the Wiggles
Vodka what followed by the kid Leroy and the top
(17:15):
bossie song Riptide by vance Joy Okay, which is twelve
years old but it's just it just keeps going now.
Speaker 2 (17:21):
They had that. They had that version this year that
was based on the rip Tide. Yeah, Michael, you and
I sat in the studios listening to it continually and
it was about mental health maybe or something like that.
Speaker 1 (17:37):
Oh no, that was the other one. The you know
that that as somebody that I used to know song, remember, yeah,
I got yes, And then they did that. There was
another version of that this year, which which was so
hard to listen to. It was like they've rutined a
really good song. And now I realized, I've just elevated
myself into your categories of boomers. I'm not a boomer,
(18:01):
which is why it's so much fun to say it.
Speaker 2 (18:04):
And judging from my Spotify numbers, I am a bit.
Oh I'm seventy two years old, is what they told me.
Speaker 1 (18:12):
Okay, take us through, Sean, what you found out about
your Well.
Speaker 2 (18:17):
I found out that I'm seventy two years old. According
to my listening. I listened more to podcasts and music. Well,
I thought that, but I got my list one hundred
and ninety one genres of music. I didn't realize there
was one hundred and ninety one genres of music that
about eight thousand minutes over the year. Basically, alternative rock
(18:40):
was my top category, followed by pop rap, then new wave,
and then oldies. I'm proud of the fact that oldies
came in at number four. You know, then I'm my
sort of it's sort of embarrassing to look at you.
Drake Nah, nobody to be seen the Weekend, Billie Eilish
(19:01):
Nor em Ah, Yes, David Bowie certainly radio Head absolutely,
You two is in there, The Beatles was in there.
I just I don't know. It didn't make me feel
very good about myself because I just felt old.
Speaker 1 (19:16):
Well, Sean, I need to confess something. So because my
Spotify is it's shared with shared with the kids.
Speaker 2 (19:26):
No no, no, no, no, no, no justifications here mine
is too, yes, but family pack it on spot pack
on Spotify.
Speaker 1 (19:34):
Okay, so no, mine's not a family packed mine as
they just literally listen on the account. And so that
is why my number one most listened to song this
year was that song Golden from the K pop demon Hunters.
To be fair, it was like the most one of
the most listened to songs worldwide because that movie just
(19:55):
I think in Australia it was the most listened to,
so pretty extraordinary. It just keeps going. And then you
were talking about the fact that Ordinary by Alex Warren,
which was the most listened to song around the world,
that was my number two. Okay, again because of the kids,
but and then.
Speaker 2 (20:11):
Always because of the kids.
Speaker 1 (20:12):
The kids, the attitude there are so much atu But
the thing that gets me right is that even with
the kids listening, my older tendencies still just managed to
come through. What was your listening age based on what
you listened to?
Speaker 2 (20:29):
Seventy two?
Speaker 1 (20:32):
So my listening age, Sean was seventy eight.
Speaker 2 (20:41):
Oh, that's made my day.
Speaker 1 (20:43):
My top genres were soft pop, lullaby, indie rock, oldies,
and country. That is an eclectic mix, right is that
is a little bit of everything? Anyway. I just I
really enjoy this for what it tells you about the year.
And you're like, I didn't listen to that much, and
then you suddenly look back and go, actually I did.
(21:04):
And it's nice to see the podcast numbers in there
as well, and it's very reassuring to see that Fear
and Greed was, in fact my most listened to, my
most listened to podcasts. And how good has it been
this week seeing some of the listener posts online as
well about people saying that they have had Fear and
Greed at the top of their Spotify wrapped, which is
(21:24):
actually really very very nice. Adam, Yes, what was yours judging? No?
Speaker 2 (21:31):
Oh no, no, no, you're just telling us we're going
to judge. We're going to see who wins out of this.
Speaker 1 (21:35):
We're judging you, all.
Speaker 3 (21:36):
Right, Okay, So I've opened up my Spotify Listening Club
minutes listened, Top genres, Top genres.
Speaker 1 (21:44):
Was it's gonna be something really kind of unexpect.
Speaker 3 (21:47):
One hundred and fifty nine genres?
Speaker 1 (21:49):
Oh, it's quite limited range.
Speaker 3 (21:51):
Do you know? Okay? New wave rock rock, Yeah, like
the Doobie Brothers, my cad Yes go on, pop, rap,
pop and rock. Jesus quite a narrow band there, really,
isn't it. Top songs, Well, God, should.
Speaker 1 (22:09):
I do this on? Just give us the top three? One?
Speaker 3 (22:12):
Okay, It's My Life by Talk Talk, border Line by Madonna,
and Something About You by Level forty two.
Speaker 2 (22:20):
Oh my god, I'm not sure where to go.
Speaker 1 (22:24):
I don't even know what to say.
Speaker 2 (22:26):
What's your listening age?
Speaker 3 (22:28):
Year fifty nine, so a bit older than me.
Speaker 2 (22:32):
That's it's pretty good.
Speaker 3 (22:34):
Top Artist Tears for Fears, then Fleetwood, Mac, David Bowie, Elton, John,
Michael Jackson.
Speaker 1 (22:41):
Oh that's a good.
Speaker 2 (22:41):
Okay, I'm judging, I'm judging you right. That is pathetic, Adam, pathetic.
Tears for Fears come on, great bend. Half a point
to Michael, half a point to me, agreed, one and
a half, one and a half zero.
Speaker 1 (22:57):
It was. It was a fun exercise. Nothing to do
with bus. So let's bring it back onto business for
a big finale. Sean take a favorite story.
Speaker 2 (23:08):
The illegal tobacco story, mostly because it shows economics in action,
especially the law of diminishing returns. The federal government has
taxed cigarettes and vapes so much that revenue started falling.
We're getting diminishing returns. Now that you would think that
would be a good thing that revenue was falling. You
would think because people are buying less of the product.
(23:29):
That's not the case. Illegal sales have swords, so basically
a supply side policy has led to a drop in demand,
but rather than reducing usage, the substitution effect, another great
economic concept, has kicked in. So legal cigarette and tobacco
(23:51):
sales down about thirty percent according to the ABS, Illegal
tobacco sales surging now. According to the FINN, you can
get a twenty five cigarette pack for six dollars at
a convenience store. If you buy that legally, it's fifty dollars.
Thirty four dollars of that fifty dollars goes in taxes.
If people weren't lining up, then you'd sort of figure
it doesn't matter. But Roy Margan data suggests that eighteen
(24:13):
to twenty four year olds are smoking and vaping more
than ever before. There's also the problem of crime that
comes alongside illegal sales. We have a target of less
than five percent of the population to be smoking by
twenty thirty. Its currently sits at eight point five percent,
responsible for sixty six Australian deaths a day, the leading
cause of preventable death in Australia. And the economics are
(24:35):
showing that the government policy doesn't work. So it's a
really important story because we need to hear about them.
But it just demonstrates how economics can tell you a story.
And I mean the government has to change its policy
on this. There's no way you can keep taxing this
and have such an illegal underground tobacco sales booming and
(24:56):
people starting to smoke again. Cracking story.
Speaker 1 (25:00):
Yeah, no melodrama though that was where was the sixty Michael?
No that I mean? And it is a very serious, serious,
a very serious day. Yeah it is. It is extraordinary
bringing a Michael bringing home. Okay, I was a little
bit torn this week.
Speaker 2 (25:21):
Here we go, it's going to be an omnibus.
Speaker 1 (25:23):
Now it's not an omnibus. I genuinely couldn't decide this
week between Samsung's new trifold phone, which I know got
you very excited this week, sure, and the idea that
you can actually have this phone that folds into three
different parts run once. Yeah, three phones once, ridiculous. The
price of copper hitting a record high.
Speaker 2 (25:42):
You were excited about that. I remember that HP ten
percent in the week.
Speaker 1 (25:47):
Yeah, and Rio tinto to a new record like that?
What what the heck? Huh wow? Copper go nuts? Then
extensions staff now being called reinventors. What on earth is
that could not split them? So I went in a
different direction all together.
Speaker 3 (26:08):
You chose none of them.
Speaker 1 (26:09):
Chose none of them, and instead have chosen the rise
of Giving Tuesday, right, which.
Speaker 2 (26:17):
Is the suck up to Adam?
Speaker 3 (26:18):
Like this.
Speaker 2 (26:21):
Watch me?
Speaker 1 (26:23):
Which is the follow on now from Black Friday and
Cyber Monday. And in the US, just as Black Friday
and Cyber Monday started in the US, Giving Tuesday has
now started in the US, and I'm sure it will
actually spread to here. And it is kind of like
they is, this is a global story, Shawn, because what
happens in the US affects the rest of the world
(26:43):
flow on effects. It is just simple, simple melodrama. This week,
this was highlighted Giving Tuesday, and it's like it is
almost like the antidote to the to the rampant consumerism
right of Black Friday and Cyber Monday. Right philanthropy happening
on the Tuesday this week, Michael and Susan Dell, who
(27:05):
are the founders of Dell Technologies, pledging six point two
five billion US dollars to go to kids in the US,
particularly in lower income areas. It is believed to be
among the largest ever cash donations ever ever to charity.
There's a little bit more to this from next year,
(27:27):
the US Treasury is going to put one thousand dollars
in an investments account for every kid born in twenty
twenty five or later. It's basically during the president's term.
They're being kind of called Trump accounts. The Dell donation,
we'll see an extra two hundred and fifty dollars go
into twenty five million accounts. And these are kids up
to the age of ten. I know I'm not going
(27:48):
to win this category, right because I'm not conceding, but
I'm just saying I can see Adam's face and I
know that he's going to love the listing, the economic this.
Speaker 2 (27:59):
Is going on, and you.
Speaker 1 (28:00):
Stopped listening because you don't care, Sean, you don't care
about the future of children in America. In America, right,
But I actually think this is really cool.
Speaker 2 (28:12):
He's saying, Kings of America, Kim Wilde, Kim wild thank you.
I think so, Michael, I'm trying to make some interest
in this story. Go on.
Speaker 1 (28:21):
I think this for the third time is really really
cool because it potentially sets these kids up first with
a nest egg, right, little nest egg that they can
actually use later on. More importantly, it's a lesson about money.
It's a lesson about investing. It is a lesson about
the power of compound interest, and the earlier you learned
that one, we obviously know that, the better off you're
going to be long term. Okay, this is this is
(28:41):
just a fun, exciting story. It's got generosity, it's got philanthropy,
it's got all of that in there. It's got financial
education and financial literacy. It's got the potential to help
people long into the future. It is a great story.
It didn't get anut.
Speaker 2 (28:53):
Also, it also has a great photo of Michael and
Susan Dell.
Speaker 3 (29:00):
Just happened to be snapped for the occasion.
Speaker 2 (29:02):
No, they were there announcing it. Of course it was presented.
It was the photo they sent out and I looked
at it, were looking like we're sitting there stach And said,
I look at this phone of Michael and Sis and whoa.
Speaker 1 (29:18):
Google it Adam, Yes, Olivia judgment and just remember the
coup is brewing.
Speaker 2 (29:28):
Very good.
Speaker 3 (29:30):
So Michael you win.
Speaker 1 (29:32):
Holy cow, what.
Speaker 3 (29:37):
I thought it was kind of odd and I've forgotten
about it, you know, the Black Friday, Cyber Monday carnival
and then into giving Tuesday. But it's obviously an incredibly
generous donation and it is transformational for these people's lives.
Speaker 2 (29:52):
So can I can I just ask which part of
Michael's story fits your categories? No, I'm not that interesting moving.
Speaker 3 (30:03):
Economic impact of those kids.
Speaker 2 (30:05):
Two and a half to one and a half to zero.
Speaker 1 (30:09):
I love the fact that you have brought Adam into
the scores here so that you didn't lose, you came
second someone else.
Speaker 2 (30:17):
Oh I'm trying to word that out. Is that one
one one and a half one?
Speaker 3 (30:21):
So I gave you yeah half that point? Yeah, So
I think Sean, your story on the cigarettes and vobes
is incredible economic story. Chris Richardson from rich Inside. I
remember when it happened. He called them it was the
dumbest idea ever, right, and I thought, that is a
(30:43):
great summary. You're taxing it way too hard and you're
not fixing the problem. So it is an incredible story.
But I just have to give this one to Michael.
Speaker 1 (30:51):
Good decision. And you know what, that is a decision
that is based on self preservation because you heard the
the rustling of the pitchforks.
Speaker 2 (31:03):
The pitchforks Russell possibly mean leaves that, Russell.
Speaker 1 (31:07):
Yeah, yeah, I mean they're walking through the leaves the people.
The people are walking through the leaves. No, it's good,
it's good. You will live to see another week. Adam.
This is good news. The coup has been.
Speaker 2 (31:18):
Completed, subdued.
Speaker 1 (31:19):
No, no, it hasn't. It's been No. Well, we'll put
that to bed. We're happy with scores. Oh yeah, I
was wrapping up. I was done.
Speaker 3 (31:27):
I won ninety four each.
Speaker 2 (31:30):
Oh well, what hasn't that made mine day?
Speaker 1 (31:38):
Why did you have to do that?
Speaker 2 (31:40):
Adam? That is a shallow Michael, a shallow.
Speaker 3 (31:45):
That.
Speaker 1 (31:46):
Look, you know what I speak for the people, and
I say that sucks, that really sucks. Anyway, I still won.
Let's not forget that you won. You won ninety four
points each.
Speaker 2 (31:57):
You want, all right?
Speaker 1 (31:59):
They thank you, Adam, thank you, Michael, thank you, Sean,
thank you, Adam, thank you Michael. Make sure you're following
the podcast and head to Fear and Greed dot com
today you to sign up for our free daily newsletter.
I'm Michael Thompson. And that was Fear and Greed. Have
a great weekend.
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