Transcript

Sharri | 21 October · Sharri

0:06
Speaker 1: Good evening.
0:07
Speaker 2: Thanks, Andrew. Well, tonight, the Prime Minister calls for respectful
0:10
Speaker 2: debate after spending years tearing down his political opponents like
0:15
Speaker 2: Pauline Hanson and Peter Dutton. I'll play you some of
0:19
Speaker 2: his most shameful moments. This as metadata confirms Albanese's office
0:25
Speaker 2: spread the five-page dirt sheet on Helen Haynes. And amid
0:29
Speaker 2: the debate about political violence, it turns out the Prime
0:32
Speaker 2: Minister has built a blast-resistant safety bunker at the Lodge
0:37
Speaker 2: and Kirribilli House. Also on the show, why Victorian Premier
0:41
Speaker 2: Ben Carroll drove off from a petrol station without paying. Plus,
0:45
Speaker 2: the Governor-General, Sam Mostyn, says she doesn't know how her
0:49
Speaker 2: husband votes. I mean, is this something you can really
0:53
Speaker 2: keep from your partner? I'll talk about that with the panel.
0:57
Speaker 2: But first, Helen Haynes' husband has tonight spoken for the
1:01
Speaker 2: first time, revealing the terrible toll of the attack as
1:05
Speaker 2: she lost both her legs. Both have had to be amputated.
1:10
Speaker 2: But Phil Haynes expressed his deep gratitude that his wife
1:13
Speaker 2: of nearly 40 years is alive. He bravely fronted the
1:18
Speaker 2: media just a couple of hours ago where he spoke
1:21
Speaker 2: about Helen's big heart and mind. And he gave this
1:25
Speaker 2: devastating health update.
1:28
Speaker 3: Helen's left leg was amputated on Monday. We had been
1:32
Speaker 3: hoping that her right leg would be saved, but as
1:36
Speaker 3: of this afternoon or this morning, the surgeons had to
1:39
Speaker 3: also remove her right leg. But the good news in
1:44
Speaker 3: all this is Helen is alive and she's stable. That
1:49
Speaker 3: is the most important thing for our family.
1:53
Speaker 2: And isn't that true? I mean, it is truly lucky
1:56
Speaker 2: that Helen's alive after Brendan Nugent allegedly repeatedly rammed his
2:02
Speaker 2: car into her. And Phil broke down in tears as
2:06
Speaker 2: he said her road to recovery will be long and difficult.
2:11
Speaker 3: Helen's road to recovery will be long and difficult, but
2:14
Speaker 3: we know she is a fighter. She is a determined
2:18
Speaker 3: person who will do her best to with our support
2:22
Speaker 3: and love to recover. I thank you all for being here.
2:25
Speaker 3: I thank you for listening. And please keep sending Helen
2:29
Speaker 3: your love and our family as well.
2:32
Speaker 4: Thank you.
2:38
Speaker 2: It's such a heartbreaking and a difficult time for Helen
2:42
Speaker 2: and Phil and their family. And the Governor-General, Sam Austin,
2:46
Speaker 2: also spoke about how Australia was reeling with the shock
2:49
Speaker 2: and distress of this attack on Helen. And she quoted
2:53
Speaker 2: former Governor-General Sir William Dean, saying that in times of
2:57
Speaker 2: national tragedy, we see the willingness of ordinary Australians to
3:02
Speaker 2: stretch out the hand of assistance and comfort and And
3:06
Speaker 2: he said generosity was the great healing force of our nation.
3:11
Speaker 2: And Sam Mostyn spoke about the extraordinary effort of Australians
3:15
Speaker 2: who stepped in to help Helen in the aftermath of
3:18
Speaker 2: the attack.
3:19
Speaker 5: Violent attack on a much loved and respected sitting member
3:24
Speaker 5: of our federal parliament must be a moment for us
3:27
Speaker 5: to pause and to choose to be better. In fact,
3:31
Speaker 5: it is bittersweet and quite difficult to talk about that
3:34
Speaker 5: I was discussing this very topic with Helen just two
3:37
Speaker 5: weeks ago in Euroa when we were both visiting a
3:40
Speaker 5: recovery hub dealing with the bushfire recovery. And we talked
3:44
Speaker 5: about the need for greater civility and engagement across our
3:48
Speaker 5: civic and public life.
3:51
Speaker 2: Care and kindness is an important message. Empathy too and
3:55
Speaker 2: understanding each other. And Sam Mostyn asked, well, what does
3:58
Speaker 2: our nation do now? And she spoke about relearning to
4:02
Speaker 2: exercise our muscle of decency. Well, the Prime Minister Anthony
4:07
Speaker 2: Albanese today accused all political parties of fuelling aggressive political rhetoric.
4:13
Speaker 2: But just as he was uttering those words, it was
4:16
Speaker 2: revealed that the metadata behind the dirt sheet on Helen
4:19
Speaker 2: Haynes originated in his own office. The five-page dirt sheet
4:25
Speaker 2: was circulated to journalists designed to damage Helen. Journalist Peter
4:30
Speaker 2: Van Onselen reports that the Microsoft Word document smearing Haynes' records,
4:36
Speaker 2: smearing Haynes, records Lloyd Joshua as both its creator and
4:40
Speaker 2: last editor. Joshua Lloyd is Albanese's deputy director of communications.
4:46
Speaker 2: Its company field lists the Department of Prime Minister and
4:48
Speaker 2: Cabinet and its creation date is September 10, the day
4:52
Speaker 2: after the Haynes statement quoted in the document. And that
4:57
Speaker 2: dirt sheet raised questions about funding that Helen had requested
5:01
Speaker 2: for her electorate. And the heading on it, on this
5:04
Speaker 2: dirt sheet, this was released today by PVO, it says,
5:08
Speaker 2: in the past two years, the member for Indi has
5:11
Speaker 2: asked for more than $ 1. 8 billion worth of funding for
5:14
Speaker 2: projects she's selected. And in the five pages, there are
5:19
Speaker 2: questions like this. Have these interests been declared before she
5:23
Speaker 2: requested the significant funding? The five-page dirt sheet questioned Helen's integrity.
5:31
Speaker 2: Yet Albanese spoke on Monday night about her integrity. Michaelia
5:36
Speaker 2: Cash has described this as sickening hypocrisy. And Albanese's office
5:42
Speaker 2: was only trying to deflect from their own integrity issues
5:46
Speaker 2: because Helen had criticised the $ 6 million grant to Albanese's
5:51
Speaker 2: local golf club. Sports Roots was pork barrelling by deception.
5:56
Speaker 6: This is pork barrelling by design.
6:00
Speaker 2: Well, my colleague Kieran Gilbert asked Albanese about this dirt
6:04
Speaker 2: sheet today.
6:05
Speaker 4: So did the office send that out?
6:07
Speaker 7: Do you regret that in hindsight, given the events of
6:10
Speaker 7: recent days?
6:11
Speaker 6: Well, Helen Haynes is a strong advocate for her community
6:15
Speaker 6: and she advocates for funding, just as the coalition made
6:19
Speaker 6: more than a thousand commitments worth $ 1. 644 billion during the
6:26
Speaker 6: election campaign. That's what local members do for their local communities.
6:32
Speaker 2: Yeah, a disgraceful non-answer. And no denial, by the way,
6:36
Speaker 2: that his office sent it out. I mean, how could he?
6:38
Speaker 2: The metadata's there. He should be issuing an apology to
6:42
Speaker 2: Haynes for trying to smear her integrity just a short
6:46
Speaker 2: while ago. But instead of an apology, he was again
6:50
Speaker 2: calling on other politicians to lower the temperature of their rhetoric.
6:56
Speaker 6: We all have a responsibility to turn the temperature down.
7:00
Speaker 6: It is something that I have spoken about on countless occasions.
7:06
Speaker 2: Well, I think we're all within our rights to ask
7:09
Speaker 2: whether Albanese has truly accepted full personal responsibility for his
7:15
Speaker 2: role in this highly politicised, volatile environment. The Prime Minister's
7:20
Speaker 2: personal attacks on his political opponents have been egregious. Earlier
7:25
Speaker 2: this year, Albanese described Pauline Hanson as a negative force
7:30
Speaker 2: in Australian politics. And in a separate media appearance, he
7:34
Speaker 2: said this about her.
7:36
Speaker 6: Pauline Hanson has made a whole career of dividing Australians,
7:42
Speaker 6: whether it be Asian Australians, Muslim Australians, Indigenous Australians. This
7:49
Speaker 6: is someone who doesn't ever look for unity. She looks
7:54
Speaker 6: for people to blame who she regards as not being
7:59
Speaker 6: like her.
7:59
Speaker 2: And Albanese famously accused Angus Taylor of having Tourette's two
8:06
Speaker 2: years ago.
8:07
Speaker 6: The idea that we're... Have you got Tourette's or something?
8:15
Speaker 1: You know.
8:17
Speaker 4: You know, you just sit there, babble.
8:18
Speaker 2: Babble, babble. Order. Yeah, even those behind him knew not
8:24
Speaker 2: to laugh at that. It was that offensive. And listen
8:27
Speaker 2: to how Albanese described Peter Dutton in January and April
8:31
Speaker 2: last year.
8:32
Speaker 6: Dutton represents a cold-hearted, mean-spirited, sometimes just plain nasty response,
8:39
Speaker 6: and that's not going to help people. I think Peter
8:41
Speaker 6: Dutton has darkened his own brand. He has made a
8:44
Speaker 6: career out of promoting division, about punching down on vulnerable people,
8:50
Speaker 6: about seeking to divide the community, engaging in culture wars.
8:57
Speaker 2: Yeah, and why did Albanese say all that? Because Dutton
9:00
Speaker 2: was criticising his response to the anti-Semitism crisis along with
9:04
Speaker 2: his economic policies. And at Labor's election campaign launch in
9:09
Speaker 2: April last year, Albanese again claimed his opponents were all
9:13
Speaker 2: dark and nasty.
9:15
Speaker 6: In coming days, Australians have a real choice. A choice
9:20
Speaker 6: between building Australia's future or a darker, meaner, nastier reboot
9:26
Speaker 6: of the past.
9:28
Speaker 2: I mean, given Albanese's own history of vicious remarks about
9:32
Speaker 2: his opponents, it's a bit rich for him to come
9:35
Speaker 2: out now and demand his rivals lower the temperature. But
9:39
Speaker 2: despite the hypocrisy, it is an important reminder for all
9:43
Speaker 2: of society. The tone, though, needs to be set by
9:47
Speaker 2: the Prime Minister himself and his ministers. But instead, in
9:52
Speaker 2: my view, he's only driven division within our country, particularly
9:57
Speaker 2: given the revelations that the alleged attacker's social media is
10:00
Speaker 2: filled with bile towards Israel. And joining me now is
10:09
Speaker 2: former Victorian Liberal Party State Director Michael Kroger and News24
10:14
Speaker 2: host Joe Hildebrand. Great to see you both.
10:16
Speaker 1: Good evening.
10:16
Speaker 6: Great to be here.
10:17
Speaker 2: I mean, Michael, the Prime Minister sets the tone of
10:20
Speaker 2: political debate, doesn't he?
10:21
Speaker 4: He does.
10:24
Speaker 8: And I don't think we've seen a greater failure in
10:27
Speaker 8: my lifetime, and I go back to the end of
10:30
Speaker 8: the Menzies, era than this bloke who has divided this
10:36
Speaker 8: country like we've never seen before in so many ways.
10:41
Speaker 8: He is the architect of the collapse in social cohesion
10:44
Speaker 8: in this country. Putting aside the events, the terrible events
10:48
Speaker 8: in Indi, generally speaking in this country, this bloke and
10:54
Speaker 8: some of his more senior ministers are the very reason
10:57
Speaker 8: as to why there is so much anger and division
11:01
Speaker 8: and hatred in this country today. They've allowed this hatred
11:04
Speaker 8: against Jews and Israel to spew forth onto our streets,
11:08
Speaker 8: in our schools, in synagogues, in the streets. This bloke
11:15
Speaker 8: has turned a blind eye to all of this stuff,
11:18
Speaker 8: starting from October 9 through to Penny Wong's non-appearance at
11:23
Speaker 8: the Kibbutzim in January 2024 and on.
11:28
Speaker 1: It goes, Shari. So.
11:30
Speaker 8: As Tim Wilson correctly said today, this bloke can't lecture anybody.
11:34
Speaker 8: He's shown no moral leadership whatsoever. So the best thing
11:38
Speaker 8: Albo can do is just go away and hide and
11:40
Speaker 8: not embarrass himself, particularly after it's been revealed he was
11:44
Speaker 8: the one behind this shocking dirt sheet on Helen Haynes.
11:48
Speaker 1: Goodness me.
11:49
Speaker 8: Shame on you, Albo.
11:51
Speaker 2: I think the metadata revelation, Joe, is significant because, I mean,
11:55
Speaker 2: the Prime Minister can't pretend this doesn't exist. It's in
11:59
Speaker 2: the media. Everyone's reporting on it. Shouldn't he just apologise
12:02
Speaker 2: and say it was wrong?
12:03
Speaker 1: Yeah, look, I think self-evidently it exists.
12:05
Speaker 9: My question would be, and I genuinely don't know the answer,
12:08
Speaker 9: whether or not the PM had knowledge of it or
12:11
Speaker 9: whether it's something that his staffers did. and didn't bother
12:15
Speaker 9: to tell him, partly because, I suppose, so he wouldn't
12:18
Speaker 9: have to know about it, but knew that it was
12:21
Speaker 9: something that could be usefully done.
12:24
Speaker 7: It would probably be something, I.
12:26
Speaker 9: Think, strange to get Prime Ministerial approval for, but I
12:30
Speaker 9: think that.
12:31
Speaker 2: But hold on, just one sec, Joe. This is how...
12:33
Speaker 2: his office operates it's not like this is a one-off
12:36
Speaker 2: dirt sheet this is there are the best at politics
12:40
Speaker 2: this is constant yeah.
12:42
Speaker 9: Both sides both sides do it and again it's obviously
12:45
Speaker 9: a really bad look now that we know that um
12:48
Speaker 9: Helen Haynes has lost both her legs but thank god
12:51
Speaker 9: is still alive but of course that wasn't known at
12:53
Speaker 9: the time it's the sort of thing in the rough
12:54
Speaker 9: and tumble of politics people do this stuff all the
12:57
Speaker 9: time so um but I think it's more what is
13:00
Speaker 9: really telling is that it appears that the person who
13:04
Speaker 9: committed or is alleged to have committed this attack, you know,
13:07
Speaker 9: was someone who had very sort of far left views
13:11
Speaker 9: on things like the environment, things like.
13:14
Speaker 7: Israel versus Palestine.
13:16
Speaker 9: And that's something I've been very, very wary of for
13:19
Speaker 9: a long time, how quickly and easily the sort of
13:22
Speaker 9: hardcore extreme activist left can sort of spill over into
13:27
Speaker 9: out and out violence. And it's, It's come pretty close
13:30
Speaker 9: on a number of occasions I've been familiar.
13:32
Speaker 1: With as well.
13:33
Speaker 3: Yeah.
13:34
Speaker 2: Look, since the attack, there's been a debate over political violence.
13:37
Speaker 2: And it turns out that in August, the nine newspaper
13:40
Speaker 2: journalist Paul Sakal, who's often on the show, he revealed
13:45
Speaker 2: that Albanese had a blast-resistant safety bunker installed at Kiribilli
13:49
Speaker 2: House earlier this year. And he's also had one installed
13:53
Speaker 2: at the Lodge. I thought that was interesting, Michael. These
13:56
Speaker 2: are traditional homes of prime ministers. Now they have bomb
14:00
Speaker 2: shelters in them.
14:03
Speaker 8: Well, it tells you how bad things have got in
14:04
Speaker 8: this country. Do I blame you for that, by the way? No,
14:07
Speaker 8: I don't, given what we just saw to Helen Haynes
14:11
Speaker 8: and given what we're seeing around the world. I mean,
14:16
Speaker 8: the fact is that the international left now encourage violence
14:24
Speaker 8: as a means of protest, as a means of dislodging
14:26
Speaker 8: Western governments, creating social disharmony. It used to be a
14:31
Speaker 8: protest in the street with, you know, placards. Now they've
14:36
Speaker 8: turned a blind eye to violence and, in fact, in
14:39
Speaker 8: some ways encourage violence and use language which can only
14:43
Speaker 8: be described as encouraging, you know, things which now have
14:48
Speaker 8: crossed the line. In my lifetime I've never seen anything
14:51
Speaker 8: like this. And so much of it, this is done
14:55
Speaker 8: under the global flag of Palestine, by the way, which
14:57
Speaker 8: is the international rallying cry now of, everything anti-Western. We
15:02
Speaker 8: saw it in Paris on the weekend, not French flags,
15:05
Speaker 8: Palestinian flags, and in Rome and in Belgium, and we've
15:08
Speaker 8: seen it in Germany, and we've seen it in London,
15:10
Speaker 8: and we've seen it in Michigan, and we've seen it
15:13
Speaker 8: in Australia, et cetera, et cetera. So the world is
15:16
Speaker 8: changing and not for the better, Shari.
15:18
Speaker 2: Yeah, and often I think at these protests we're seeing
15:21
Speaker 2: different ideologies, a mixed ideology. It's not just the left,
15:25
Speaker 2: it's a whole range of, and we've seen that in
15:28
Speaker 2: the Paris protests in particular. I want to go to
15:32
Speaker 2: an interview that my colleague Chris Kenny had with Governor
15:35
Speaker 2: General Sam Mostyn. It was on his program earlier this evening.
15:38
Speaker 2: It was a great chat, but there was one comment
15:40
Speaker 2: she made that really struck me. She said that she
15:43
Speaker 2: doesn't vote and she got permission not to vote to
15:46
Speaker 2: stay politically neutral, but she said her husband does. And
15:50
Speaker 2: then she made this interesting comment. Have a listen.
15:53
Speaker 5: My husband did not give it up. He said, well,
15:55
Speaker 5: I'm not the governor general. And I think that is
15:57
Speaker 5: one of the most precious things I have.
15:59
Speaker 4: We don't talk politics.
16:00
Speaker 5: I have no idea who he votes for at any
16:02
Speaker 5: level of government.
16:04
Speaker 2: I mean, Joe, I can't imagine not speaking about politics
16:08
Speaker 2: at home and not knowing how your husband or wife
16:11
Speaker 2: is going to vote.
16:12
Speaker 7: I mean, how is that possible?
16:13
Speaker 9: I can't imagine speaking about anything else quite frankly.
16:14
Speaker 2: I know, what else is there to talk about?
16:17
Speaker 9: Yeah, I think it, I mean, unless it is just
16:20
Speaker 9: an incredibly dull marriage and maybe that's what it is.
16:25
Speaker 9: But it's interesting she said that she had permission not
16:27
Speaker 9: to vote. I mean, all you have to do is
16:28
Speaker 9: rock up to the polling booth and get your name
16:31
Speaker 9: crossed off. After that, what you do is a private
16:34
Speaker 9: matter and you can vote informally. So I don't know
16:37
Speaker 9: if she's got a special.
16:38
Speaker 2: No, she said she got special... She wrote and got
16:40
Speaker 2: special permission.
16:41
Speaker 7: That's right.
16:41
Speaker 9: So I find that a strange privilege for her to
16:45
Speaker 9: have or have sought. I thought we were all equal
16:47
Speaker 9: in this country. But, no, I am pretty sure that...
16:52
Speaker 9: I'm pretty sure that I know how my wife votes
16:54
Speaker 9: and if she ever votes for the Greens, I'm leaving her.
16:56
Speaker 2: That's so funny. I know. Well, my husband once joked
17:00
Speaker 2: he was voting for the Teals. I wasn't too happy
17:01
Speaker 2: about that.
17:02
Speaker 9: Something should not be joked about.
17:05
Speaker 2: But, Michael, I remember as a kid once my parents
17:08
Speaker 2: had this, you know, I hope they don't mind me
17:10
Speaker 2: revealing this, this huge argument over who they were each
17:12
Speaker 2: voting for. They were planning on voting for someone different.
17:15
Speaker 2: And so my dad didn't vote. And when he got
17:17
Speaker 2: the fine, he wrote back and said, it would have
17:21
Speaker 2: ended in divorce. And they let him off. He didn't
17:23
Speaker 2: have to pay the fine.
17:24
Speaker 1: There you go. Him and Sam Boston both.
17:26
Speaker 2: You can't have it.
17:28
Speaker 8: You can't have a decent man like Max Markson being charged,
17:31
Speaker 8: you know, being fined by the, you know, the Treasury.
17:36
Speaker 8: That would be... An Australian for that to be done.
17:38
Speaker 8: So good on whoever it was that made that decision
17:41
Speaker 8: to let him off the fine. A very well-deserved citizen,
17:45
Speaker 8: your father.
17:46
Speaker 2: Yes. All right, just before we go, Victorian Premier Ben
17:48
Speaker 2: Carroll apparently forgot to pay for his petrol when he
17:52
Speaker 2: filled up on Monday night. This is what he said
17:55
Speaker 2: when he was asked about it.
17:57
Speaker 8: It shows that politicians are human beings and even premiers make.
18:03
Speaker 10: Mistakes.
18:03
Speaker 2: Michael, I don't understand how you can forget to fill
18:06
Speaker 2: up with petrol. I mean, maybe he isn't used to
18:08
Speaker 2: driving himself? Look, it happens and.
18:15
Speaker 8: It won't do, as much as I'd like to say
18:17
Speaker 8: the alternative, it won't do him any damage at all
18:19
Speaker 8: because plenty of people have done that or walked out
18:22
Speaker 8: of shops and inadvertently not paid for things. You don't
18:25
Speaker 8: want to make a habit of it. But, Shari, it
18:28
Speaker 8: won't do him any damage, quite frankly.
18:30
Speaker 2: And he had to go back and pay them.
18:32
Speaker 1: Yeah, that's right.
18:33
Speaker 2: Apparently he paid $ 90. How is petrol only... What's he
18:36
Speaker 2: driving that it was only $ 90?
18:37
Speaker 9: Yeah, maybe he's got a hybrid. But, no, I think
18:41
Speaker 9: this makes him just look very, very human. I can
18:43
Speaker 9: certainly imagine how he would have just been distracted. He
18:47
Speaker 9: was with, you know, people talking about the Helen Haynes matter.
18:51
Speaker 9: He was obviously distracted by that.
18:53
Speaker 1: He was running errands, he said. He wasn't even on
18:55
Speaker 1: official business.
18:56
Speaker 9: He was running around doing household chores for his.
18:58
Speaker 1: beloved wife.
18:59
Speaker 9: So I think, you know, I'm pretty sure both him
19:01
Speaker 9: and his wife vote for the Labor Party. And I
19:03
Speaker 9: dare say their marriage will be in very good stead.
19:05
Speaker 2: They will be fine.
19:05
Speaker 9: So I think it makes him human.
19:07
Speaker 2: They will be fine. All right. I'm sure there'll be
19:08
Speaker 2: a lot of disagreements, though, in households at the next
19:11
Speaker 2: election when some might want to vote for One Nation,
19:14
Speaker 2: some might want to vote for the Liberal Party. That
19:16
Speaker 2: is going to be at the base.
19:17
Speaker 9: I already, I'm sorry to say, know a number of
19:19
Speaker 9: people who voted for the government in 2022 and even
19:22
Speaker 9: 2025 and are saying.
19:26
Speaker 2: And they'll vote for One Nation now, Labor to One Nation.
19:28
Speaker 1: Maybe.
19:29
Speaker 9: I think, yeah, one or two of them might just
19:30
Speaker 9: to sort of rock the boat. Others might just go
19:33
Speaker 9: back to the Libs.
19:34
Speaker 2: Yeah, going to be a lot of family arguments now.
19:36
Speaker 2: We'll have to see if the electorate office is as
19:39
Speaker 2: forgiving as they were 30 years ago.
19:41
Speaker 1: All right.
19:43
Speaker 2: Thank you both so much. We're learning more about the
19:47
Speaker 2: man who allegedly attacked Helen Haynes after he faced court today.
19:51
Speaker 2: And The Australian has reported on his filth ridden home.
19:55
Speaker 2: Journalist Muhammad Al-Farez reports that Brendan Nugent lived in a
19:59
Speaker 2: property littered with trash, empty beer bottles and broken furniture.
20:04
Speaker 2: And police searched the home on Tuesday afternoon. It's on
20:07
Speaker 2: a stretch of rural land, 10 minutes from Wangaratta. And
20:11
Speaker 2: joining me now is shadow education minister, Julian Lisa. Julian,
20:15
Speaker 2: great to see you again. Look, Nugent's lawyer said today
20:19
Speaker 2: that he had a rare neurological condition. He said he
20:24
Speaker 2: had concussion. He's also been charged now with cannabis use.
20:28
Speaker 2: But Julian, the motivation still remains unclear.
20:33
Speaker 11: Yes, Terry, I don't want to do a running commentary
20:36
Speaker 11: on this case. It's obviously a matter that's going before
20:38
Speaker 11: the courts here. I want to express my solidarity with
20:42
Speaker 11: my parliamentary colleague, Helen Haynes, who has now lost both
20:46
Speaker 11: her legs in a dreadful attack. When you attack any
20:50
Speaker 11: Australian using violence, it's a terrible thing.
20:53
Speaker 4: But when you attack an elected member of parliament, it's
20:55
Speaker 4: an assault.
20:56
Speaker 11: On our very democracy. No sane and rational person does
20:59
Speaker 11: this sort of thing. People have to have extreme political
21:02
Speaker 11: motivations or some mental illness to do so. But I
21:05
Speaker 11: don't want to provide a running commentary on the specifics here.
21:08
Speaker 11: I don't think that's a good idea, given that this
21:11
Speaker 11: man will be before the courts.
21:12
Speaker 12: Yeah, yeah.
21:13
Speaker 2: As I spoke about earlier, the Prime Minister's office had
21:16
Speaker 2: actually created a dirt sheet on Helen Haynes before she
21:19
Speaker 2: was allegedly attacked. The document sent to journalists aimed to
21:23
Speaker 2: raise questions about her connections to the recipients of government funding,
21:28
Speaker 2: and this was after she'd criticised the Prime Minister for
21:32
Speaker 2: the $ 6 million grant to the Marrickville Golf Club in
21:35
Speaker 2: his electorate. Julian, should the Prime Minister be more upfront,
21:40
Speaker 2: be apologising for this?
21:43
Speaker 11: Yes, I think he must, Shari. I think it's really
21:46
Speaker 11: important that he apologises here. I mean, on the one hand,
21:49
Speaker 11: He's calling for calm. On the other hand, there's a
21:51
Speaker 11: dirt sheet that's been distributed from his office. Helen Haynes
21:54
Speaker 11: is fighting for her life now and I think her
21:57
Speaker 11: family deserves an apology.
21:58
Speaker 2: I mean, do you think it's hypocritical from a Prime
22:02
Speaker 2: Minister who constantly says that we need to turn down
22:04
Speaker 2: the heat?
22:06
Speaker 11: Well, I don't know how the Prime Minister on the
22:08
Speaker 11: one hand can be saying let's turn down the heat
22:10
Speaker 11: and on the other hand be distributing a dirt sheet.
22:12
Speaker 11: He's got some explaining to do.
22:15
Speaker 2: Look, many politicians are coming forward citing threats they've received.
22:20
Speaker 2: You know, there's a lot of outreach that's reported to
22:22
Speaker 2: be happening to the AFP. Have you received any that
22:26
Speaker 2: you're comfortable sharing? And do you think there should be
22:29
Speaker 2: a review into MP security?
22:32
Speaker 11: Yes, I do think there needs to be a review
22:34
Speaker 11: into MP security. I mean, we've seen what's happened now
22:36
Speaker 11: with Helen Haynes in Australia, but we've also seen the
22:39
Speaker 11: situation in Britain where I think three serving members of
22:42
Speaker 11: Parliament have been.
22:44
Speaker 4: murdered in the course of their duties.
22:46
Speaker 11: I think we do need to make sure that our
22:48
Speaker 11: members of parliament are safe, not because they're special, but
22:51
Speaker 11: because they have a particular role in our democracy in
22:54
Speaker 11: representing people. They have to be able to get out
22:57
Speaker 11: and about among their communities, but by the same token,
23:00
Speaker 11: they need to be protected from being attacked, and both
23:03
Speaker 11: them and their families need to be. I've certainly had
23:06
Speaker 11: threats over the course of my career, I've seen the
23:10
Speaker 11: level of anti-Semitism, particularly over the last three or four years,
23:16
Speaker 11: make things uncomfortable. And they're increasingly uncomfortable for colleagues across
23:21
Speaker 11: the board.
23:23
Speaker 2: Julian, and I would say I'm sorry to hear that,
23:25
Speaker 2: but we have spoken privately about this issue, which is
23:28
Speaker 2: why I said that you're comfortable sharing on television. I
23:32
Speaker 2: want to turn to your portfolio, Shadow Education. The University
23:36
Speaker 2: of Technology Sydney is in hot water after the Executive
23:39
Speaker 2: Council of Australian Jury said it was one of the
23:42
Speaker 2: worst campuses to be a Jewish student in Australia today.
23:46
Speaker 2: I have to say, Julian, this surprised me that UTS
23:50
Speaker 2: is worse than some of the universities in Melbourne or
23:53
Speaker 2: than the University of Sydney. Why is it?
23:55
Speaker 4: Well, this sadly didn't surprise me, Shari. I've been talking to.
24:00
Speaker 11: Jewish students on the University of Technology Sydney campus for
24:04
Speaker 11: some time. I've taken this issue up with the Vice-Chancellor
24:07
Speaker 11: and the Chancellor of the university. The levels of complaint
24:10
Speaker 11: there that sadly were not taken seriously, that ultimately went
24:14
Speaker 11: to the National Student Ombudsman, and I.
24:16
Speaker 4: Think some of those issues are ongoing.
24:18
Speaker 11: And I think the university has some real questions to do.
24:21
Speaker 4: You and I have spoken.
24:22
Speaker 11: Many times over the last few years about the failure
24:25
Speaker 11: of our university's to take anti-Semitism seriously. The failure of
24:30
Speaker 11: our universities to protect all Australian students and allow them
24:33
Speaker 11: to get on with their education and to protect their
24:35
Speaker 11: own academics. And what we've seen here at UTS has
24:39
Speaker 11: been a failure to properly deal with these issues.
24:41
Speaker 4: And I'm pleased that the Ombudsman threw the book at them.
24:44
Speaker 2: So what has the Ombudsman said and done now?
24:49
Speaker 11: Well, the Ombudsman made a series of findings in relation
24:51
Speaker 11: to the university's failure to deal with complaints arising out
24:55
Speaker 11: of a range of circumstances that that occurred at that university.
24:59
Speaker 11: But there are still ongoing issues with students there that
25:02
Speaker 11: I hear about, students that feel unsafe walking through the
25:06
Speaker 11: campus there, things that are being said in classes and
25:09
Speaker 11: so on.
25:09
Speaker 4: And I think the.
25:10
Speaker 11: University has to do more to protect its Jewish students
25:13
Speaker 11: and indeed all its students.
25:15
Speaker 1: Mm-hmm.
25:17
Speaker 2: There was also a 73-year-old northern Sydney man who faces
25:21
Speaker 2: up to five years in prison after being charged with
25:23
Speaker 2: allegedly displaying Nazi symbols online and posting anti-Semitic comments on
25:28
Speaker 2: social media. The AFP launched an investigation into the man
25:32
Speaker 2: in June. This is after it received a report which
25:35
Speaker 2: identified an online user publishing this content. Julian, I saw
25:40
Speaker 2: you made really strong comments about this case today. You know,
25:45
Speaker 2: why did why are you angered about this in particular?
25:48
Speaker 11: No, this is a person from my electorate and I
25:51
Speaker 11: think people in my electorate would be disgusted by this
25:54
Speaker 11: I mean Australians fought and gave their lives in to
25:57
Speaker 11: defeat Nazi Germany in World War II. This is the tyranny,
26:01
Speaker 11: the ideology our grandparents fought against. And the idea that
26:04
Speaker 11: there are people glorifying the Nazi regime in this country
26:07
Speaker 11: is just sickening.
26:09
Speaker 4: I think Australians are sick of the Nazis. We're sick
26:11
Speaker 4: of the radical Islamists.
26:12
Speaker 11: We're sick of people on our university campuses not being
26:16
Speaker 11: held to account. We want our country back.
26:20
Speaker 2: Yep, well said. Julian, Lisa, thank you very much for
26:22
Speaker 2: your time. All right, coming up, the RBA gives a hint, shockingly,
26:28
Speaker 2: about potentially another rate rise. Plus, it's just days away
26:33
Speaker 2: from the Israeli elections. Is Prime Minister Benjamin Netanyahu set
26:36
Speaker 2: to be voted out or re-elected? We'll talk about that
26:40
Speaker 2: after the break. Welcome back. Well, Netflix is desperately on
26:46
Speaker 2: the hunt for its next big hit after it lost
26:49
Speaker 2: $ 135 billion in market value this year. The stock is
26:55
Speaker 2: down 26% this year, putting Netflix among the top 10
26:58
Speaker 2: worst performers in the NASDAQ 100 index. Its decline is
27:02
Speaker 2: being blamed on straying users, which is kind of incredible
27:06
Speaker 2: considering this is the streaming giant that upended traditional broadcast television.
27:11
Speaker 2: And joining me to discuss is Pengana Capital CEO, Russell Pillimer. Russell,
27:16
Speaker 2: great to see you.
27:17
Speaker 7: Great to be here.
27:18
Speaker 2: I mean, it seems Netflix is now struggling to handle
27:23
Speaker 2: the competition from other streaming giants and maybe even News24.
27:27
Speaker 10: Yeah, so Netflix is a great business. It still continues
27:32
Speaker 10: to grow, but not at nearly... the same rate as
27:34
Speaker 10: it used to grow. So they have 325 million users,
27:39
Speaker 10: subscribers globally. They've saturated the US market and they're struggling
27:44
Speaker 10: outside of the US. And I think it's because of
27:47
Speaker 10: the competition. There's so many other streaming services and there's
27:51
Speaker 10: so many other entertainment and media options around whether it
27:54
Speaker 10: is great TV channels or alternatively things like YouTube or TikTok,
28:00
Speaker 10: et cetera. So they are struggling. And then they're also
28:04
Speaker 10: struggling because they seem to have lost their mojo. They
28:07
Speaker 10: just don't seem to have those great hits anymore. And
28:11
Speaker 10: somehow they need to find it.
28:12
Speaker 2: It's interesting. Some people say to me they don't watch
28:14
Speaker 2: television anymore, not news, but, you know, those streaming giants
28:18
Speaker 2: anymore because they're watching content, as you said, on YouTube
28:21
Speaker 2: or TikTok or social media. It's so addictive.
28:25
Speaker 7: Absolutely.
28:26
Speaker 10: Now, Netflix was a new thing and now there's other
28:30
Speaker 10: new things.
28:31
Speaker 2: Yeah.
28:31
Speaker 7: And so people are following that trend.
28:33
Speaker 1: A lot more.
28:34
Speaker 2: I want to speak to you about the valuation of
28:35
Speaker 2: some AI data centers, because there was a report in
28:39
Speaker 2: the Wall Street Journal that I thought was unusual. They're
28:42
Speaker 2: saying that Anthropic lost $ 80 billion over the last six months.
28:48
Speaker 2: I mean, maybe that's not a lot to them, but
28:50
Speaker 2: then SpaceX today reported revenues have doubled over the past year,
28:54
Speaker 2: of course, you know, supercharged by AI. So Is this
28:57
Speaker 2: a trend or just a specific company issue?
29:01
Speaker 7: So, Shari, there is a lot of noise in this
29:03
Speaker 7: whole space.
29:05
Speaker 10: And I think there's a lot of sensationalising that's been
29:09
Speaker 10: done by the media. So that Anthropic announcement was actually
29:13
Speaker 10: made by Reuters. And Reuters came out big headline that
29:18
Speaker 10: Anthropics lost $ 80 billion, which would be a massive loss.
29:22
Speaker 7: When you actually read the article.
29:24
Speaker 10: it said that Anthropic had actually made, on a cash basis,
29:28
Speaker 10: had actually made an operating profit. They were cash flow positive.
29:32
Speaker 10: That $ 80 billion loss was an accounting number. So it
29:36
Speaker 10: means nothing to anybody who's actually evaluating the stock.
29:40
Speaker 7: So it was purely to grab a headline.
29:43
Speaker 2: So some kind of misleading financial reporting from Reuters.
29:47
Speaker 10: Yeah, I think that's absolutely the case. The data centres
29:51
Speaker 10: are something different. The data centres are having a lot
29:53
Speaker 10: of problems because people are thinking that their model is broken.
29:58
Speaker 10: there's too much risk in it, there's too much debt involved,
30:01
Speaker 10: it's too expensive to build, there's too much uncertainty, et cetera.
30:04
Speaker 7: So data centers are a real problem.
30:08
Speaker 10: And then SpaceX came out today, announced that their revenues
30:12
Speaker 10: had doubled over the last year, largely driven by AI revenues.
30:17
Speaker 10: And SpaceX actually just a few hours ago came out
30:21
Speaker 10: with an announcement that they and Tesla are actually in
30:26
Speaker 10: discussions about a merger. So they're both obviously majority.
30:31
Speaker 2: I really wanted to play that clip of the car
30:33
Speaker 2: that's using the SpaceX technology and it's maybe I'll play
30:37
Speaker 2: it on the show tomorrow night and it kind of
30:38
Speaker 2: flies in the air.
30:40
Speaker 7: Phenomenal clip.
30:41
Speaker 10: It's one of the great clips that we've seen recently.
30:45
Speaker 10: So they're talking about SpaceX and Tesla actually merging. Now, obviously,
30:49
Speaker 10: Musk is the person behind both of them. And this
30:52
Speaker 10: will give immense further scale. Together, they'll be a $ 3. 5
30:56
Speaker 10: trillion business with some synergies, probably a $ 4 trillion business with.
31:00
Speaker 7: Musk at the top.
31:02
Speaker 10: And they'll cover the whole AI space from language models
31:05
Speaker 10: all the way to actual applications and robots and space.
31:09
Speaker 10: So it will give a lot of power in Musk's hands.
31:12
Speaker 7: In particular, Starlink.
31:14
Speaker 10: We saw what happened last week where Starlink was turned
31:18
Speaker 10: off for a while in the Ukraine and that caused
31:21
Speaker 10: a loss of life and some real damage from the
31:24
Speaker 10: Russians in those hours when it was turned off.
31:26
Speaker 2: It's incredible how much power he has, almost you'd say
31:29
Speaker 2: equal to some presidents.
31:32
Speaker 7: It's phenomenal.
31:33
Speaker 10: And I think the danger for him is that the
31:35
Speaker 10: US government will actually step in and take some of
31:38
Speaker 10: that power away from him, especially if it's abused. So
31:42
Speaker 10: Once he puts these businesses together, a lot of people
31:45
Speaker 10: will be driving cars that are made by Musk.
31:48
Speaker 2: Maybe flying cars, if this clip is true. I imagine
31:51
Speaker 2: that would be a very expensive car.
31:52
Speaker 7: Exactly.
31:53
Speaker 10: And you'll control the NASA space program. You'll control Starlink.
31:58
Speaker 10: There will be a lot of power in the hands.
32:00
Speaker 7: Of one person.
32:00
Speaker 13: Yeah, yeah.
32:02
Speaker 2: I want to talk about the Israeli elections, and that
32:04
Speaker 2: might seem an unusual topic with you, but a few
32:06
Speaker 2: weeks ago we spoke about just how well the Israeli
32:09
Speaker 2: economy is doing, you know, inflation, et cetera, compared to
32:13
Speaker 2: us in Australia. And this might be one of the
32:16
Speaker 2: reasons why some people think you know, might be looking
32:20
Speaker 2: to vote for Israeli Prime Minister Benjamin Netanyahu again, although
32:24
Speaker 2: the polls are indicating that it's too close to call
32:28
Speaker 2: at the moment. It's looking like there definitely won't be
32:31
Speaker 2: an outcome on the day. It could be days or
32:32
Speaker 2: even weeks as the negotiations continue.
32:36
Speaker 10: So in Israeli elections are inherently hard to predict. the outcomes,
32:42
Speaker 10: and that's because you've got so many different parties involved
32:45
Speaker 10: and it needs to be a combination or a coalition
32:49
Speaker 10: government that needs to be formed. And it's really hard
32:51
Speaker 10: to tell ahead of time who will join with who.
32:54
Speaker 10: And so that is yet to be seen. The president
32:58
Speaker 10: will usually call on the party that has got the
33:02
Speaker 10: most number of votes to try and form a coalition,
33:05
Speaker 10: but that's not always the case. If they think that
33:07
Speaker 10: that party is unable to then the president might go
33:10
Speaker 10: for the second largest party. And the interesting thing about
33:13
Speaker 10: Israeli elections is you don't necessarily need to have the
33:17
Speaker 10: head of the largest party in the coalition being the
33:20
Speaker 10: prime minister. So when Bennett was the previous prime minister,
33:24
Speaker 10: he actually only entered into his coalition, I think he
33:28
Speaker 10: had something like 6% of the votes. And so this
33:33
Speaker 10: will be a very contested space and be really interesting
33:37
Speaker 10: to see how this turns out.
33:38
Speaker 2: Do you think if Netanyahu does not return as prime minister,
33:43
Speaker 2: it will make any difference to anti-Semitism around the world?
33:46
Speaker 10: So I think we would like to think that's the case,
33:49
Speaker 10: but I think that's wishful thinking. And the reason for
33:52
Speaker 10: that is that on all the key topics, whoever is
33:56
Speaker 10: the Israeli prime minister will have no option but to
34:00
Speaker 10: take the same stance. So the three key topics are Gaza.
34:04
Speaker 10: Can you exit Gaza whilst Hamas is still in power?
34:07
Speaker 7: Obviously not. Two-state solution.
34:11
Speaker 10: Can you proceed with a two-state solution whilst you have
34:14
Speaker 10: no partner for peace on the other side?
34:17
Speaker 7: Absolutely not.
34:18
Speaker 10: And then on Iran, can you end a conflict with
34:21
Speaker 10: Iran when you still have religious fanatics who are pursuing
34:25
Speaker 10: a nuclear bomb?
34:27
Speaker 7: And obviously not.
34:28
Speaker 10: So I think whoever is there will have to pursue
34:30
Speaker 10: the same policies as Netanyahu. And over time, they'll get
34:34
Speaker 10: brushed with the same rhetoric and the same anger as
34:39
Speaker 10: Netanyahu has been subject to.
34:42
Speaker 2: I mean, the war in Iran looks to be playing
34:44
Speaker 2: into the midterms. I'm going to speak about that with
34:46
Speaker 2: a guest a bit later. But oil is tipped to
34:48
Speaker 2: reach 150 US dollars a barrel if the war drags on.
34:53
Speaker 2: And there's reporting suggesting US naval blockades are preventing Iranian
34:58
Speaker 2: oil leaving the country. I mean, we've been hearing this
35:01
Speaker 2: for a long time, that Iran will get to be
35:03
Speaker 2: on the brink of collapse.
35:04
Speaker 1: But it.
35:06
Speaker 2: I mean, I feel like I believe it when I
35:08
Speaker 2: see it.
35:09
Speaker 10: Yes, so they absolutely are having a really tough time
35:13
Speaker 10: in Iran. The Western media seems to think that the
35:18
Speaker 10: US and Israel aren't winning the war because inflation is
35:22
Speaker 10: edging up to 4% or 5% or, you know, oil
35:27
Speaker 10: is expensive. Can you imagine if you're inside Iran and
35:30
Speaker 10: inflation is 75% per annum? and just going higher and
35:33
Speaker 10: higher as this blockade proceeds. So they're having a terrible
35:36
Speaker 10: time there. People are going hungry. Revolutions are made on
35:41
Speaker 10: empty stomachs. And so it could bring people out into
35:44
Speaker 10: the streets. But what you would need to actually have
35:46
Speaker 10: a regime change is for some part of the armed
35:49
Speaker 10: forces to turn against the government. There's a potential there
35:53
Speaker 10: because there's two types of armed forces in Iran. One
35:56
Speaker 10: is the IRGC, the Republican Guards. They are the religious fanatics.
36:01
Speaker 10: They are there to protect the regime. And then you've
36:03
Speaker 10: got the army, which is almost twice the size of
36:06
Speaker 10: the IRGC. And they are mostly secular. So the hope
36:10
Speaker 10: is that people will take to the streets. The regular
36:15
Speaker 10: army will not want them to be slaughtered by the
36:18
Speaker 10: Republican guards and will somehow stand up for them. But
36:22
Speaker 10: that's a big hope. I'll just say one thing about revolutions,
36:24
Speaker 10: and that is that In hindsight, they always seem obvious.
36:28
Speaker 10: But ahead of time, I doubt any of those revolutions
36:31
Speaker 10: could have been predicted when and how they would take place.
36:34
Speaker 7: That's really interesting.
36:35
Speaker 2: Very thoughtful and definitely food for thought. Thank you so much, Russell.
36:40
Speaker 2: Appreciate it.
36:41
Speaker 1: Great, thanks.
36:41
Speaker 2: Thank you. Still to come, we'll look at why Trump
36:45
Speaker 2: is visiting seven states in seven days in the lead
36:48
Speaker 2: up to the midterms. Plus, the RBA warns our inflation
36:51
Speaker 2: outlook has worsened, indicating there may be more rate rises
36:55
Speaker 2: to come. Tom Pannis will be here after the break.
37:01
Speaker 2: Thanks for tuning in. Well, it looks like the RBA
37:04
Speaker 2: may have to raise the cash rate in November at
37:07
Speaker 2: the Melbourne Cup board meeting. It's looking increasingly likely because
37:11
Speaker 2: the deputy governor, Andrew Hauser, has warned that the inflation
37:15
Speaker 2: outlook is worse than what they forecast just in August.
37:21
Speaker 2: Joining me for more now is auctioneer and real estate
37:23
Speaker 2: expert Tom Panos. Tom, look, this is not good news.
37:27
Speaker 2: I mean, they're saying, Andrew Hauser is saying that the
37:31
Speaker 2: risk here is that inflation will become entrenched and that
37:35
Speaker 2: people are losing confidence that the RBA can return inflation
37:39
Speaker 2: to the 2% to 3% target band, that people think
37:42
Speaker 2: they've lost control of inflation, which, I mean, you have
37:45
Speaker 2: to agree with. They're not on top of it.
37:48
Speaker 12: They're not on top of the chari, and the ban
37:50
Speaker 12: that we've got to be down to is 2% to 3%.
37:54
Speaker 12: And what's becoming very clear is the Reserve Bank is saying, listen,
37:58
Speaker 12: we know that there's pain and suffering there.
38:01
Speaker 1: That is one issue. Our issue is.
38:04
Speaker 12: To get it down to 2% to 3%.
38:06
Speaker 1: It's stubborn.
38:07
Speaker 12: That news is not good. We thought that there might
38:10
Speaker 12: be a rate rise in November. The news there has
38:13
Speaker 12: confirmed that it's most likely on the day of Melbourne Cup.
38:16
Speaker 1: They actually meet roughly at the same time.
38:19
Speaker 12: And, Shari, it's not good because at the moment what
38:21
Speaker 12: it's doing is it's even stopping buyers. Even though we're
38:25
Speaker 12: supposed to have buyers come into the market because properties
38:28
Speaker 12: have softened, even first-home buyers are saying, why will I
38:31
Speaker 12: buy a home? If rates keep going up, they're going
38:33
Speaker 12: to keep dropping. So it's not looking good. And don't forget,
38:39
Speaker 12: there could be more. We've got a Reserve Bank meeting
38:41
Speaker 12: again in December. We might end up having this conversation
38:44
Speaker 12: again in three, four weeks' time. So there are headwinds.
38:48
Speaker 1: There, Shari.
38:50
Speaker 2: And, you know, when I started my question by saying
38:53
Speaker 2: the RBA has lost control, really, as we know, all
38:57
Speaker 2: they can do is raise rates. You know, they need
39:00
Speaker 2: the government to work with them. They need the government
39:03
Speaker 2: to do some of the heavy lifting as well.
39:05
Speaker 1: Correct.
39:05
Speaker 2: On productivity and on spending.
39:08
Speaker 5: Correct.
39:08
Speaker 12: Because if you don't, think about it. We've got a
39:11
Speaker 12: cohort of people. There are three types of people. with
39:15
Speaker 12: mortgages or real estate in Australia or living.
39:18
Speaker 1: You've got renters, they have no mortgage.
39:20
Speaker 12: You've got people paying off a mortgage, they've got the
39:23
Speaker 12: loan and they're up for a payment every month, and
39:26
Speaker 12: then you've got those that have paid off their house.
39:28
Speaker 1: The group that is... paying the price.
39:31
Speaker 12: Is the middle group, the vulnerable group, the cohort of people,
39:35
Speaker 12: the mortgage holders, but they might not be causing the inflation.
39:40
Speaker 12: The inflation might be caused by other groups of people, businesses,
39:45
Speaker 12: the government. The government causes inflation, whether they choose to
39:49
Speaker 12: admit it or not. They're causing inflation. So until we
39:53
Speaker 12: take some drastic action, we're still going to have interest
39:57
Speaker 12: rates going up, and that is a problem.
40:01
Speaker 2: Look, it comes as we know house prices have fallen.
40:05
Speaker 2: I mean, that's how I met you, because I started
40:07
Speaker 2: having you on the show to talk about this, that
40:09
Speaker 2: the housing market's just really, I don't know if I
40:11
Speaker 2: can say crashed, but definitely a crunch in Well, Morgan
40:14
Speaker 2: Stanley is now saying that prices could fall by another
40:18
Speaker 2: 15 percent by the end of the year. Tom, this
40:21
Speaker 2: would mark the biggest decline in 40 years.
40:25
Speaker 12: So that article that Morgan Stanley is talking about, if
40:29
Speaker 12: that were to come to fruition, that would be the case.
40:31
Speaker 1: It would be unheard of. We've never seen it.
40:35
Speaker 12: It is concerning because you've got to remember, Shari, we've
40:38
Speaker 12: already seen property prices in many areas across Australia, Sydney,
40:42
Speaker 12: Melbourne mainly, they've already.
40:44
Speaker 1: Dropped 10%, 15%.
40:46
Speaker 12: So getting further drops, we're beginning to start talking about 20% plus.
40:51
Speaker 13: Yeah.
40:51
Speaker 12: I hope it doesn't happen and I definitely don't want
40:54
Speaker 12: it happening in the lower price point because these are
40:56
Speaker 12: the buyers that have gone in and have used a
41:00
Speaker 12: lot of the lowest, you know, the 5% deposit scheme
41:03
Speaker 12: or what have you.
41:04
Speaker 1: They're vulnerable people. They're vulnerable people.
41:08
Speaker 12: So there is a possibility it's going to happen, and
41:11
Speaker 12: at the moment there is nothing on the horizon that's
41:14
Speaker 12: going to say, oh, there's something good coming up, because
41:18
Speaker 12: at the moment it doesn't look like there's an end
41:21
Speaker 12: to the war. It doesn't look like there's an end
41:23
Speaker 12: to inflation, right? Interest rates don't look like they're coming
41:27
Speaker 12: down any soon. So right now we are in a
41:31
Speaker 12: difficult situation. We're seeing volumes that has dramatically reduced inflation
41:36
Speaker 12: This lack of volume is impacting a lot of the
41:39
Speaker 12: ecosystem in property, mortgage brokers, stylists, removalists. but it's also
41:45
Speaker 12: impacting the state government.
41:47
Speaker 2: Yes, their revenues as well.
41:49
Speaker 1: New South Wales state government, it's 25% of their revenue.
41:52
Speaker 2: It's huge.
41:52
Speaker 1: It's massive.
41:53
Speaker 12: That's like having one client and this client is no
41:56
Speaker 12: longer performing for you.
41:58
Speaker 2: I've got to get the Treasurer, Daniel Mookie, on to
42:01
Speaker 2: speak about that actually because it genuinely is massive. But
42:04
Speaker 2: don't you think it would be good if the federal
42:06
Speaker 2: government held a press conference, the Albanese government, and said, right,
42:10
Speaker 2: We're going to play our part. We're going to massively
42:12
Speaker 2: cut spending to try and bring down inflation. But they're
42:15
Speaker 2: not doing it. Instead, there's constant pay rises. There's new
42:19
Speaker 2: money for this, you know, funding for this program or
42:24
Speaker 2: that huge waste of money.
42:26
Speaker 11: So.
42:27
Speaker 12: The popularity contest, let's make people happy because they'll keep,
42:31
Speaker 12: you know, trying to vote for us. And in the meantime,
42:34
Speaker 12: we have this inflation being stubborn because they're not prioritising
42:39
Speaker 12: which project they let go of now. I think it
42:42
Speaker 12: needs someone to go in with a biro and just
42:44
Speaker 12: start saying, delay this project.
42:46
Speaker 1: Do we need to do this right now? Yeah.
42:50
Speaker 2: They kind of need to get management consultants in to
42:52
Speaker 2: go through the actual budget, probably.
42:54
Speaker 12: Well, listen, they need some good ones because they've got
42:56
Speaker 12: plenty of them at the moment. If you look at
42:57
Speaker 12: the amount of outsourcing that they're doing with consultants... Yeah, huge, millions.
43:02
Speaker 2: Just very quickly, part of the problem with all of
43:05
Speaker 2: this that's created this sense of uncertainty in the economy
43:10
Speaker 2: are their tax changes to capital gains tax and negative gearing.
43:14
Speaker 2: Pauline Hanson said she'd reverse them, the Coalition, and now
43:16
Speaker 2: Peter Dutton's come out as well.
43:19
Speaker 12: So, Shari, I always said that if the government had
43:21
Speaker 12: chose to have a consultative approach earlier on, we would
43:25
Speaker 12: have had not all these unintended consequences. One of those
43:28
Speaker 12: would be a wind back of two of them, negative
43:31
Speaker 12: gearing and capital gains. And I'm not saying have to
43:34
Speaker 12: go back to all the way.
43:35
Speaker 1: Maybe if you.
43:35
Speaker 12: Turned around and said you can only negative gear three properties.
43:39
Speaker 12: Maybe if the government came back and said, listen, there's
43:41
Speaker 12: too much of a domino effect here.
43:43
Speaker 1: We're going to allow you to negative gear three properties.
43:46
Speaker 12: And the capital gains tax say if you keep a
43:48
Speaker 12: property for more than 10 years, maybe you can have
43:51
Speaker 12: those benefits. That's going to stop people flipping property. It's
43:54
Speaker 12: going to provide more stability. It's going to help tenants
43:57
Speaker 12: not have their rents go up. But I'm not quite
43:59
Speaker 12: sure whether the government's going to do that. I don't
44:02
Speaker 12: think that they're going to do that.
44:03
Speaker 2: They'll just stick with it. Yeah, they should take your advice, Tom.
44:05
Speaker 2: Thank you so much for being here.
44:07
Speaker 1: Thank you, Shari.
44:08
Speaker 2: All right, after the break, President Donald Trump has fired
44:11
Speaker 2: up Air Force One and is travelling across the country
44:14
Speaker 2: to shore up votes for the midterms. But we'll talk
44:17
Speaker 2: about the sentiment on the ground after this quick break. Well,
44:23
Speaker 2: with the U.S. midterms now less than a fortnight away,
44:26
Speaker 2: President Donald Trump is traveling across the country to gather
44:30
Speaker 2: support in states that the Republicans are worried could fall.
44:34
Speaker 2: During his seven-day seven-state blitz, he is expected to hold
44:37
Speaker 2: rallies in Kansas, North Carolina, South Carolina, Iowa, Florida, Georgia
44:42
Speaker 2: and Michigan. And to discuss joining me now from Phoenix, Arizona,
44:46
Speaker 2: is political strategist Tiffany Marie Brown. And Tiffany, thank you
44:49
Speaker 2: so much for joining, especially so early in the morning.
44:53
Speaker 2: How's it looking so far for the president and how necessary?
44:56
Speaker 2: I mean, how worried is he given he's doing this
44:59
Speaker 2: seven state blitz?
45:01
Speaker 14: Well, you know, it's a really good question, and thank
45:03
Speaker 14: you so much for having me. The thing is, midterms
45:06
Speaker 14: are always going to be difficult, no matter who is
45:09
Speaker 14: the president. Logistically and historically, they have about a 43.2%
45:12
Speaker 14: turnout for Republicans. compared to a 60% turnout during these
45:19
Speaker 14: presidential bigger election years like we saw in 2024. Now,
45:23
Speaker 14: Republicans also just in general have a massive turnout issue.
45:27
Speaker 14: My friends are helping right now the California races, like
45:30
Speaker 14: with Steve Hilton running for governor and when Spencer Pratt
45:33
Speaker 14: was running for mayor of LA. And the numbers they're
45:35
Speaker 14: seeing are just very, very bad because people just are
45:38
Speaker 14: not turning in those early voting ballots. They're not showing
45:41
Speaker 14: up and they're not enthusiastic. So I think President Trump
45:44
Speaker 14: is really trying to shore up energy to reignite this
45:48
Speaker 14: enthusiasm for his base and to remind voters why they
45:51
Speaker 14: voted in 2024 and how important it is. Because as
45:55
Speaker 14: we saw just this week here in America, Elise Slotkin,
45:59
Speaker 14: who is a politician here, she went on the record
46:02
Speaker 14: saying that there will be lawfare and they will try
46:05
Speaker 14: to come after people who worked for Trump. She said
46:07
Speaker 14: kids that worked for Trump, including anyone that even was
46:11
Speaker 14: mildly involved with his administration or campaign, and they want
46:14
Speaker 14: to come after them personally should they regain control of
46:16
Speaker 14: the House and the Senate.
46:18
Speaker 2: How big of an issue are the higher oil prices?
46:21
Speaker 2: You know, this cost of living issue, families just struggling
46:25
Speaker 2: to afford basic items. How much of this is playing
46:27
Speaker 2: into the midterms?
46:29
Speaker 14: A lot, but really the crazy part to me is
46:32
Speaker 14: that when you look at when the Biden administration was
46:35
Speaker 14: in office, these prices that were actually often higher than
46:38
Speaker 14: they are under Trump. So a lot of it is
46:41
Speaker 14: very good marketing and very good social media strategy by
46:44
Speaker 14: the left that the right just isn't competitive on. And
46:47
Speaker 14: we see this often, a lot of it feels like
46:49
Speaker 14: a big psyop where they have made the war in
46:51
Speaker 14: Iran such a huge deal and such a large focus
46:55
Speaker 14: that it takes away from all the wins that the
46:57
Speaker 14: administration's actually had. We have a closed border. We have
47:01
Speaker 14: a massive illegal immigration problem before this that we don't
47:04
Speaker 14: have anymore. I mean, the border's been closed. I live
47:06
Speaker 14: in a border state. That's been a huge win for me.
47:09
Speaker 14: And what people often forget is that that alone, the
47:12
Speaker 14: illegal immigration crisis in America costs us $ 150 billion annually.
47:18
Speaker 14: So when we are deporting people and we are fixing
47:20
Speaker 14: the illegal immigrant problem, that helps us with the health
47:23
Speaker 14: care costs. It takes away the housing market problem. It
47:27
Speaker 14: lowers costs in the houses where we have mass deportations,
47:31
Speaker 14: for example. And it's also making America safer, as we
47:34
Speaker 14: have a lot of people and young women, unfortunately, that
47:37
Speaker 14: have been murdered and raped by Venezuelan illegals, for example.
47:41
Speaker 2: Trump has spoken about Democrat Ilhan Omar. This is amid
47:45
Speaker 2: the accusations that she changed her birth date by up
47:49
Speaker 2: to a year to secure American citizenship. Here's what Trump
47:52
Speaker 2: had to say.
47:52
Speaker 13: She could also go to jail. You know, they keep
47:55
Speaker 13: talking about deportation. No, she could go to jail. She's
47:58
Speaker 13: a sick, very dishonest person, but who hates our country.
48:04
Speaker 13: And she comes from a country that is essentially not
48:08
Speaker 13: even a country, Somalia.
48:11
Speaker 2: I mean, speaking of political warfare, the Republicans are being
48:14
Speaker 2: accused of this. But is there a genuine issue here
48:18
Speaker 2: that is being investigated with her citizenship? There is.
48:23
Speaker 14: And this is actually really serious. I spoke about this
48:26
Speaker 14: earlier this year because what you see is probably a
48:29
Speaker 14: lifetime history worth of fraud. She came here in 1995
48:33
Speaker 14: with her family. Her father, he claimed refugee asylum status.
48:37
Speaker 14: But we now know, according to investigations and reports, that
48:41
Speaker 14: he was most likely a colonel in the Siad Bar regime,
48:44
Speaker 14: which was a dictatorship notorious for their human rights violations. So,
48:48
Speaker 14: number one.
48:49
Speaker 2: Tiffany, I'm going to have to cut you short. Apologies.
48:53
Speaker 2: We're out of time. I thought we had a bit more.
48:55
Speaker 2: Thank you so much for joining us and for your insights.
48:58
Speaker 2: And I'll see you tomorrow at 8. Don't forget, big
49:00
Speaker 2: Ben Robert Smith interview at 8.30. Here's Paul Murray.