Latest / What the Flux / Trump-onomics' impact on Australia | Bitcoin’s record high| Big Tech CEOs woo Trump

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Trump-onomics' impact on Australia | Bitcoin’s record high| Big Tech CEOs woo Trump · What the Flux

• 0:05
  Speaker 1: This is what the Flux. I'm Brett and I'm justin.
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  Speaker 1: As Friday, the eighth of November, Doyboy, Chemist Warehouse and
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  Speaker 1: Age of approved their monstrous eight point eight billion dollar merger,
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  Speaker 1: and off the back of this news, Sigma's share price
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  Speaker 1: jumped a whopping thirty percent to its highest price in
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  Speaker 1: seventeen years. If you don't mind, listen.
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• 0:45
  Speaker 1: Three advantageous stories today, Dozy boy, let's do it for
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  Speaker 1: our first. The Governor of the Reserve Bank, Michelle Bullock,
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  Speaker 1: has said that Australia's economy could face serious implications after
• 0:57
  Speaker 1: Trump's promise to increase terror slowly.
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  Speaker 2: You can just imagine all the countries shaken in their
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  Speaker 2: economic booties right now being so tell me.
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  Speaker 1: More well, Josey Boy. As we know, Donald Trump won
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  Speaker 1: the US election on Wednesday Australian time, and.
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  Speaker 2: A man amongst many of his promised initiatives and concepts
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  Speaker 2: of a plan is an American first approach to the economy.
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  Speaker 1: This means US companies get the red carpet treatment.
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  Speaker 2: And now be man. The Governor of the Reserve Bank
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  Speaker 2: of Australia, Michelle Bullock, has warned that Trump's election could
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  Speaker 2: have adverse effects on Australia's economy.
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  Speaker 1: Get this one. Australian export has sent twenty two billion
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  Speaker 1: dollars worth of goods to the US in twenty twenty three,
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  Speaker 1: twenty four financial years.
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  Speaker 2: We're talking beef and gold and pharmaceutical products are leading
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  Speaker 2: the chart.
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  Speaker 1: And boy Bullock is expecting Trump to slap an extra
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  Speaker 1: ten to twenty percent tariff from all Australian exports to
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  Speaker 1: the US.
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  Speaker 2: But that's not all be man, because Donnie t has
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  Speaker 2: spoken about even bigger tariffs for Chinese exports.
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  Speaker 1: We're talking up to sixty percent tariffs on exports from China.
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  Speaker 1: So this presidency could hit Australia's economy in more ways
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  Speaker 1: than one interesting.
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  Speaker 2: So what is the key learning here?
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  Speaker 1: When tariffs arise, the ripple effect can often be felt
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  Speaker 1: fun and why, sa Beeman.
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  Speaker 2: A ten percent increase in tariffs in Australia probably won't
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  Speaker 2: make a material impact to our economy, but.
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  Speaker 1: A sixty percent tariff on China might impact US a
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  Speaker 1: whole lot more see be Man.
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  Speaker 2: Australia exports a serious amount of goods to China.
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  Speaker 1: In fact, in twenty twenty three alone, Australia exported more
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  Speaker 1: than one hundred and twenty billion US dollars worth of
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  Speaker 1: goods to China.
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  Speaker 2: In particular, we'd be talking iinore and colon gas and
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  Speaker 2: agricultural products. So when Chinese goods become more expensive in
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  Speaker 2: the US, Americans are likely to buy less Chinese.
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  Speaker 1: Goods, which means China is likely to import less raw
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  Speaker 1: material from US In Australia, so.
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  Speaker 2: Be Man, Australia's close ties with China means our economy
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  Speaker 2: is also vulnerable to changes in China's economy.
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  Speaker 1: For our second story, the price of bitcoin has hit
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  Speaker 1: a new record, jumping more than ten percent after Donnie
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  Speaker 1: T's election win.
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  Speaker 2: Many many many hoddlers sitting smugly in their probably dark
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  Speaker 2: rooms right now, So tell me more.
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  Speaker 1: Bitcoin started in two thousand and nine as a payment
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  Speaker 1: system that enables people to send money to anyone in
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  Speaker 1: the world without permission from banks or governments. So bitcoin
• 3:01
  Speaker 1: started in two thousand and nine as a payment system
• 3:03
  Speaker 1: that enables people to send money to anyone in the
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  Speaker 1: world and a man, it's.
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  Speaker 2: Not just a payment system, but it's also a store
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  Speaker 2: of value or some bitcoin.
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  Speaker 1: Is called it digital goal Now. Since that founding, it
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  Speaker 1: has grown from a weird range group of viewsers to
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  Speaker 1: becoming pretty darn mainstream.
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  Speaker 2: In fact, in the US, nearly one in five Americans
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  Speaker 2: have dabbled in cryptocurrency.
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  Speaker 1: Now, Jaseyway. Off the back of Donald Trump's election win,
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  Speaker 1: the price of bitcoin has jumped by more than ten
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  Speaker 1: percent to a record high.
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  Speaker 2: We're talking more than seventy six thousand US dollars per bitcoin.
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  Speaker 1: Compare that to its price of one thousand US dollars
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  Speaker 1: in November twenty sixteen, when Trump was first elected ceb Man.
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  Speaker 2: As part of Trump's reelection campaign, he spoke about wanting
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  Speaker 2: to make the US the crypto capital of the world.
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  Speaker 1: But maybe a change in government is good for bitcoin
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  Speaker 1: either way. So what is the key learning here. When
• 3:46
  Speaker 1: it comes to bitcoin, political promises can send prices soaring
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  Speaker 1: or crash it.
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  Speaker 2: Get this, bee Man. In the six months that followed
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  Speaker 2: the last three presidential elections, bitcoin has triple digit return.
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  Speaker 1: But this time around, Jasey boy, the bitcoin community is
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  Speaker 1: very excited.
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  Speaker 2: Yeah, because Trump's made some big, big, big promises to them.
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  Speaker 1: He promised to make bitcoin a reserve currency.
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  Speaker 2: He's promised to fire the head of the Securities in
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  Speaker 2: Exchange Commission in the.
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  Speaker 1: US who has put a lot of regulation around bitcoin.
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  Speaker 2: And he's promised to push through crypto friendly regulation, whatever
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  Speaker 2: that actually means to it.
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  Speaker 1: That's a whole lot of promises.
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  Speaker 2: But then, man, if he doesn't deliver on these promises quickly,
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  Speaker 2: the euphoria from the bitcoin could turn to disappointment pretty soon.
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  Speaker 1: And we know the price of bitcoin and ethereum for
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  Speaker 1: that matter, and all other old coins can be more
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  Speaker 1: unhinged than Donald Trump's late night tweets.
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  Speaker 2: So they'd be hoping that Trump follows through with his
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  Speaker 2: promises sooner rather than later.
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  Speaker 1: For our third and final story, big tech CEOs and
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  Speaker 1: our coosing up to Donald Trump after his win to
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  Speaker 1: become the next president. Ahead of some very likely big changes.
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  Speaker 1: Everyone scrambling to.
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  Speaker 2: Delete their anti Trump tweets now jell me moore Okay.
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  Speaker 1: In the lead up to the US election, many of
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  Speaker 1: the largest companies chose to side with the Democrats or
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  Speaker 1: the Republicans, and many also chose.
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  Speaker 2: To completely stay out of it at a fear of
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  Speaker 2: the repercussions of backing the wrong horse.
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  Speaker 1: But now that Trump has been re elected, many in
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  Speaker 1: America's corporate community a using down that door to get
• 5:01
  Speaker 1: Trump Rooney on side.
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  Speaker 2: Amazon founder Jeff Bezos, met as Mark Zuckerberg, Apple Tim
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  Speaker 2: Cook all took to social media to congratulate Donnie t and.
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  Speaker 1: It's fair to say, Josey Boyd, the reactions of America's
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  Speaker 1: top tech leaders give us a bit of a glimpse
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  Speaker 1: at how CEOs are pifting their strategy to really appeal
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  Speaker 1: to Big Donald.
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  Speaker 2: Get this the man. Trump has reportedly been making notes
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  Speaker 2: of CEOs and companies he reckons wronged him or backed
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  Speaker 2: his rivals aka his squash list, and so business leaders
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  Speaker 2: who are scared of retribution have been reaching out and
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  Speaker 2: playing nice.
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  Speaker 1: In fact, Josey boy many fortune one hundred CEOs of
• 5:33
  Speaker 1: publicly addressed the outcome on their personal LinkedIn or Twitter accounts.
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  Speaker 2: So what is the key learning here?
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  Speaker 1: With the Donald Trump victory, the US tech scene is
• 5:39
  Speaker 1: about to be divided into winners and losers.
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  Speaker 2: During Trump's first term, some leaders stood up to it.
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  Speaker 1: They quit Tech Advisory Council or challenged.
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  Speaker 2: Him on some of his policies.
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  Speaker 1: But they saw that publicly opposing mister Trump harried a price.
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  Speaker 2: In fact, Amazon argued in court that it lost out
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  Speaker 2: on a ten billion dollar government contract because of Trump's
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  Speaker 2: personal vendetta against Jeff Bezos.
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  Speaker 1: And in the lead up to the election, Donnie t
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  Speaker 1: and Jdvans have blasted big tech time and time and again.
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  Speaker 1: But b man, there is one man in tech who's
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  Speaker 1: doing just fine right now. Yeah, that's Trump's biggest fan.
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  Speaker 1: Elon Musks spent hundreds of millions supporting Trump's campaign.
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  Speaker 2: And it's believed that this will give Mask and therefore
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  Speaker 2: Tesla and SpaceX and X more political influence than ever before.
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  Speaker 1: In fact, Tesla's stock was at fourteen percent the day
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  Speaker 1: after the election, and.
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  Speaker 2: Musk's personal wealth jump twenty billion US dollars after the
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  Speaker 2: election win two.
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  Speaker 1: So it does. Boy, it's not surprising to see so
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  Speaker 1: many tech leaders coosing up to Trump.
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  Speaker 2: Because nobody wants their company on the squash leads.
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  Speaker 1: Pluck madam.
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  Speaker 2: If you want to kick up the weekend on a high,
• 6:34
  Speaker 2: dealing smart and with cash in your pocket, there is
• 6:36
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• 6:43
  Speaker 1: Yes, win at Money today.
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  Speaker 2: Thanks for listening and we'll see you on Monday.