Latest / Early Edition with Ryan Bridge / Full Show Podcast: 02 September 2026

Transcript

Full Show Podcast: 02 September 2026 · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: The issues, the interviews and the insight. Ryan Bridge on
• 0:05
  Speaker 1: Early Edition with Spark for Business. Technology that keeps business moving.
• 0:09
  Speaker 1: Newstalk ZB.
• 0:10
  Speaker 2: Good morning.
• 0:11
  Speaker 3: Six after five. Great to have your company. The bond markets,
• 0:13
  Speaker 3: the yields are still going north. We'll talk about that
• 0:15
  Speaker 3: this morning. It's also OCR Day here in New Zealand.
• 0:18
  Speaker 3: The new port the Americans and us want to build
• 0:20
  Speaker 3: in the Cooks. Netball. We'll speak to friend of the show,
• 0:22
  Speaker 3: Mark Foster. And Global Dairy Trade Auction just come out
• 0:25
  Speaker 3: for you too. It is Wednesday the 2nd of September,
• 0:30
  Speaker 3: King of the U-Turn, that's what they're calling him now,
• 0:32
  Speaker 3: this is Burnham, and back from his summer holes he is,
• 0:35
  Speaker 3: questions in the House.
• 0:36
  Speaker 4: I have not had the pleasure of asking him any questions.
• 0:41
  Speaker 4: So we are all grateful, we are all grateful Mr Speaker,
• 0:46
  Speaker 4: that he has finally found time to come to Parliament
• 0:49
  Speaker 4: to answer some questions.
• 0:51
  Speaker 5: She mentions my summer. I noticed she spent hers travelling
• 0:55
  Speaker 5: all the way to Rome to be told by the
• 0:57
  Speaker 5: Italian Prime Minister not to do a deal with reform. Well,
• 1:00
  Speaker 5: if she'd have called me, I would have told her
• 1:02
  Speaker 5: that and saved her the trip, Mr Speaker.
• 1:05
  Speaker 3: Everybody's happy because they've had a good sleep. Kimmy wants
• 1:08
  Speaker 3: to know about the boats, though.
• 1:09
  Speaker 4: Boat crossings have not gone down because of anything that
• 1:12
  Speaker 4: Labour has done.
• 1:13
  Speaker 6: Boat crossings are.
• 1:14
  Speaker 4: Down across all of Europe. and have been for much longer.
• 1:19
  Speaker 5: Yes, we will continue to look at all measures, the
• 1:22
  Speaker 5: Home Secretary and I. We will be relentless in making
• 1:25
  Speaker 5: sure we continue to make progress. But it would, I think,
• 1:30
  Speaker 5: do the party opposite well to recognise that significant progress
• 1:33
  Speaker 5: has indeed been made.
• 1:35
  Speaker 3: Early headache for the Prime Minister. Keir Starmer, the former,
• 1:40
  Speaker 3: has stood down as an MP. This is his electorate,
• 1:43
  Speaker 3: Holborn and St Pancras, so there's going to be a
• 1:45
  Speaker 3: by-election there.
• 1:46
  Speaker 6: He wishes to spend the time working both in an
• 1:49
  Speaker 6: international role, as yet unspecified, and also working on violence
• 1:55
  Speaker 6: against women and girls and preventing that, a theme that
• 1:58
  Speaker 6: he has stuck to for much of his career, even
• 2:02
  Speaker 6: before he was elected. Prime Minister.
• 2:04
  Speaker 3: Yeah, guess who might want to run in that seat?
• 2:06
  Speaker 3: The Green Party co-leader. You know the one who thought
• 2:09
  Speaker 3: that he could hypnotise women to make their breasts bigger?
• 2:11
  Speaker 3: That guy? Yeah, he might run there. In other news,
• 2:14
  Speaker 3: the Germans are blaming the Russians for a drone attack.
• 2:16
  Speaker 3: This is at Leipzig Airport. We told you about this
• 2:18
  Speaker 3: when it happened. It was a month ago and it
• 2:20
  Speaker 3: was near some Ukrainian cargo planes.
• 2:23
  Speaker 7: August 4th at the Leipzig airport is part of an
• 2:28
  Speaker 7: already well-known pattern of Russian hybrid actions or operations in Europe.
• 2:34
  Speaker 8: Information from intelligence proves.
• 2:42
  Speaker 3: Finally this morning, jurors in the Lindsay Clancy trial deadlocked.
• 2:45
  Speaker 3: This is the U.S. woman accused of killing her three
• 2:47
  Speaker 3: kids in Massachusetts in their home. Prosecution says basically she
• 2:51
  Speaker 3: knew exactly what she was doing and planned it.
• 2:53
  Speaker 9: I know that this was a long trial. I know
• 2:58
  Speaker 9: there were over 80 witnesses.
• 3:00
  Speaker 10: There were over 300 exhibits.
• 3:02
  Speaker 9: But because of that, I'm going to ask you to
• 3:05
  Speaker 9: go back out, keeping in mind all the instructions that
• 3:09
  Speaker 9: I gave you, to go out and to continue your
• 3:13
  Speaker 9: deliberations at this time.
• 3:16
  Speaker 1: The news you need this morning and the in-depth analysis.
• 3:19
  Speaker 1: Early edition with Ryan Bridge and Spark for Business. Technology
• 3:24
  Speaker 1: that keeps business moving.
• 3:25
  Speaker 3: Newstalk ZB. 9292, the number to text. Always love to
• 3:28
  Speaker 3: hear from you. Just gone nine minutes after five now. Interestingly,
• 3:31
  Speaker 3: just while we're talking about Kimi and we're talking about Burnham,
• 3:34
  Speaker 3: the Conservatives, there was a poll out overnight. The Conservatives
• 3:37
  Speaker 3: have jumped ahead just slightly of Reform UK. who are
• 3:41
  Speaker 3: now down into third place. So Labour, 26. They're down one. Conservative, 23.
• 3:46
  Speaker 3: They're up one. This is all margin of error stuff,
• 3:48
  Speaker 3: so take it with a grain of salt, but it's
• 3:50
  Speaker 3: still interesting. Reform UK, now third on 22. And you
• 3:54
  Speaker 3: know Restore Britain. They're rivals of reform. They're like, reform
• 3:59
  Speaker 3: is now establishment, so we're going to break away and
• 4:03
  Speaker 3: create a new party. Restore Britain is on 4%. There
• 4:07
  Speaker 3: you go. Now, Shanghai... A cooperation summit is on at
• 4:12
  Speaker 3: the moment. This is where you get Xi and you
• 4:14
  Speaker 3: get Putin and you get Modi, three big hitters, all
• 4:18
  Speaker 3: in the same room at the same time. They've been
• 4:20
  Speaker 3: shaking hands and smiling for the cameras. Well, sort of
• 4:23
  Speaker 3: not really smiling. Putin doesn't do much of a smile.
• 4:26
  Speaker 3: Xi doesn't do much of a smile either, more of
• 4:28
  Speaker 3: a sort of a smirk. Modi was smiling. Anyway, Modi
• 4:33
  Speaker 3: has said to Putin, you've got to end this war, mate,
• 4:37
  Speaker 3: and you've got to do it now. And that is
• 4:40
  Speaker 3: not new. He has said before that they should end
• 4:41
  Speaker 3: the war. He said that publicly, but the incentive now
• 4:45
  Speaker 3: is greater for him. Half of India's crude comes from Russia.
• 4:49
  Speaker 3: So Russian exports to India were actually up 60% in
• 4:52
  Speaker 3: the last year to $ 34 billion. Now, this leaves them
• 4:56
  Speaker 3: vulnerable to punishment from the Americans because the Americans don't
• 5:01
  Speaker 3: want any deals being done or trade being done with
• 5:05
  Speaker 3: the Russians. So in 2025, Trump hit them with a 25%
• 5:10
  Speaker 3: tariff for doing exactly that. And now you've got the
• 5:12
  Speaker 3: Graham Bill, named after the late Lindsey Graham, where it
• 5:15
  Speaker 3: would be a 100% tariff on the top five importers
• 5:20
  Speaker 3: of Putin's oil, the blood oil, as some call it.
• 5:25
  Speaker 3: Guess who's in that camp? China and India.
• 5:28
  Speaker 11: India.
• 5:29
  Speaker 1: Ryan Bridge.
• 5:30
  Speaker 3: Seven minutes after five. We'll give you the Global Dairy
• 5:32
  Speaker 3: Trade Auction shortly and we'll get to Marg Foster on
• 5:34
  Speaker 3: the netball. Newstalk ZB.
• 5:36
  Speaker 1: The early edition full show podcast on iHeartRadio. Powered by
• 5:40
  Speaker 1: Newstalk ZB. On your radio and online on iHeartRadio. Early
• 5:47
  Speaker 1: edition with Ryan Bridge and Spark for Business. Technology that
• 5:51
  Speaker 1: keeps business moving. Newstalk ZB.
• 5:53
  Speaker 3: Newstalk ZB. It's 14 minutes after five. The global dairy
• 5:56
  Speaker 3: trade auction overnight. This is where you sell your milk
• 5:58
  Speaker 3: on the global market up 0.9%, which is good because
• 6:03
  Speaker 3: it's not going backwards. And the stuff we really care about,
• 6:06
  Speaker 3: whole milk powder up 0.1. Sorry, down 0.1. So basically flat.
• 6:11
  Speaker 3: Skim milk powder up 5.3%. And your cheddar is down 6.6.
• 6:16
  Speaker 3: Butter down 0.8. Mozzarella up 0.3. Basically, June, July, we
• 6:22
  Speaker 3: had big falls in the overall number of the auction.
• 6:24
  Speaker 3: The last four have either been going up or being flat.
• 6:27
  Speaker 3: It's 14 after. Netball's Domestic League is getting privatised. Anna
• 6:33
  Speaker 3: Mowbray and Ali Williams taking over. Thank you very much.
• 6:35
  Speaker 3: But with most of the silver ferns signing on to
• 6:38
  Speaker 3: overseas contracts, mainly in Australia for 2027, is it too
• 6:41
  Speaker 3: little too late? That's the question.
• 6:43
  Speaker 12: What I want them to know is that work is
• 6:45
  Speaker 12: now commencing on ensuring that the domestic competition that is
• 6:49
  Speaker 12: up and running for 2027 is something enormously attractive that
• 6:54
  Speaker 12: will bring them back to New Zealand in the not
• 6:56
  Speaker 12: too distant future.
• 6:57
  Speaker 3: Marg Foster, former Silver Fern, is with us this morning. Marg,
• 7:01
  Speaker 3: good morning.
• 7:02
  Speaker 13: Good morning.
• 7:03
  Speaker 3: I know you'll be very happy with this news.
• 7:05
  Speaker 13: Oh, absolutely.
• 7:07
  Speaker 8: Jesus.
• 7:08
  Speaker 14: Like, it was getting a bit scary there for a moment.
• 7:12
  Speaker 3: Because it did seem for a while, like if they
• 7:14
  Speaker 3: don't get something done now, the whole thing could collapse.
• 7:17
  Speaker 3: Everyone leaves the country and starting from scratch again is
• 7:21
  Speaker 3: very hard.
• 7:22
  Speaker 14: Yeah, it certainly is. And, you know, like we know
• 7:25
  Speaker 14: that our product is a great product and it has
• 7:29
  Speaker 14: been like in the past. We've had some really, I mean,
• 7:33
  Speaker 14: obviously the participation rate here in New Zealand is huge
• 7:38
  Speaker 14: for females. So, you know, this is a really good thing. But,
• 7:42
  Speaker 14: you know, we can't just rely on philanthropy.
• 7:46
  Speaker 13: You know, it's a whole lot of.
• 7:49
  Speaker 14: Yeah, lots of things that we need to be able
• 7:53
  Speaker 14: to get out of this, like making it really commercially
• 7:56
  Speaker 14: attractive for investors.
• 7:58
  Speaker 11: Yeah.
• 7:58
  Speaker 14: So they get a genuine return.
• 8:00
  Speaker 3: Yeah, exactly. You need investors, you need advertisers, and you
• 8:04
  Speaker 3: need to make sure it's not just a giant money pit. Oh, absolutely.
• 8:08
  Speaker 14: And look, I know we're growing our product, but the audience, sponsorship, broadcast,
• 8:15
  Speaker 14: fan experience, commercial partnerships, I mean, it's huge.
• 8:18
  Speaker 6: Yeah.
• 8:19
  Speaker 14: So, you know, I really take my hat off to
• 8:22
  Speaker 14: Anna and Ali stepping up. That's just phenomenal what they're
• 8:29
  Speaker 14: looking to do. And, you know, real great backing from
• 8:34
  Speaker 14: all of us. Hopefully we can get on board with
• 8:38
  Speaker 14: it and get the right investors in each oven.
• 8:41
  Speaker 3: Marg, tell me about the contracts that some of these
• 8:44
  Speaker 3: players would have signed over in Australia and elsewhere today.
• 8:47
  Speaker 3: Are they for next year, and are they normally one-year contracts?
• 8:51
  Speaker 3: Could you get them back after that, or can you
• 8:53
  Speaker 3: get them out of existing contracts? What is going to happen?
• 8:55
  Speaker 14: No, like, you know, like a lot of the athletes
• 8:59
  Speaker 14: have signed for two years and they're also, we're talking
• 9:05
  Speaker 14: our second tier athletes have gone over to the UK. So,
• 9:09
  Speaker 14: you know, like we, like there's more athletes in the
• 9:14
  Speaker 14: 10 that have been signed that are, you know, current
• 9:16
  Speaker 14: Silver Ferns. And so, you know, we've got to like,
• 9:22
  Speaker 14: I just don't see, like, I think probably their salary
• 9:25
  Speaker 14: over in Australia is around about 90,000. Like, that's a lot, like,
• 9:34
  Speaker 14: you know, for a young athlete. So I think, you know,
• 9:38
  Speaker 14: we might need to be starting a little bit lower
• 9:40
  Speaker 14: than that with how we start here in terms of,
• 9:48
  Speaker 14: you know, that professional side and the salary cap.
• 9:51
  Speaker 11: Yeah.
• 9:51
  Speaker 3: Margaret, good to hear.
• 9:52
  Speaker 14: I don't know how we're going to put it, but
• 9:54
  Speaker 14: I do honestly feel that New Zealand, that we can,
• 9:59
  Speaker 14: like we can, can be a competitive market and really,
• 10:04
  Speaker 14: you know, like, you know, we.
• 10:07
  Speaker 3: We need to start to lure them back. It's very exciting, Marg.
• 10:10
  Speaker 3: I can hear it in your voice. We've got to
• 10:12
  Speaker 3: get the money. We've got to get the money and
• 10:14
  Speaker 3: we've got to lure them back and it might take
• 10:15
  Speaker 3: some time. Marg Foster, nice to have you on the
• 10:17
  Speaker 3: program this morning. Former Silver Fern, it is 18 minutes
• 10:20
  Speaker 3: after five. ASB's Housing Confidence Survey came out yesterday. Surprise, surprise,
• 10:25
  Speaker 3: a net 9% of us are expecting increases in our
• 10:28
  Speaker 3: house prices. That's down from 30% over the summer. So
• 10:31
  Speaker 3: that is a pretty big drop, significant drop. Nationwide, a
• 10:35
  Speaker 3: net 20% think it's a good time to buy a house.
• 10:37
  Speaker 3: Where is it most thought to be a good time
• 10:39
  Speaker 3: to buy a house?
• 10:40
  Speaker 7: Auckland.
• 10:41
  Speaker 3: Newstalk ZB.
• 10:49
  Speaker 1: Before the news breaks, hear it first. Ryan Bridge on
• 10:53
  Speaker 1: early edition with Spark for Business, technology that keeps business moving.
• 10:57
  Speaker 1: Newstalk ZB.
• 10:59
  Speaker 3: 5.21, Carney gets a bump in Canada, a bit of
• 11:01
  Speaker 3: a confidence boost for him. They like his style, they
• 11:04
  Speaker 3: like the cut of his jib over in Canada, the
• 11:06
  Speaker 3: way he's taking on Trump, and this is proven by
• 11:09
  Speaker 3: the Liberal Party sweeping three special elections, one in British Columbia,
• 11:12
  Speaker 3: one in Quebec, one in Toronto. The Quebec one is
• 11:15
  Speaker 3: the most interesting one and dramatic one, really. Because this
• 11:18
  Speaker 3: is a Liberal candidate projected to win over a Conservative.
• 11:23
  Speaker 3: And the Conservatives have been held that since 2018. This
• 11:28
  Speaker 3: is home to aluminium producers, dairy, farmers, other industries. And
• 11:32
  Speaker 3: what have they all got in common? They are caught up.
• 11:35
  Speaker 3: in the trade war with the United States. So they
• 11:38
  Speaker 3: are going for Carney, they are going for the Liberals,
• 11:41
  Speaker 3: and basically sticking it to MAGA and Trump, 21 after.
• 11:44
  Speaker 3: New Zealand and the Americans are chipping in for a
• 11:47
  Speaker 3: deep-sea port in the Cooks. This is going to provide
• 11:51
  Speaker 3: tangible benefits, really, to the people of all three of
• 11:55
  Speaker 3: our countries.
• 11:55
  Speaker 10: We're back in the game, looking after our part of
• 11:59
  Speaker 10: the world, the Blue Convent.
• 12:01
  Speaker 3: Robert Patman, Otago University International Relations professor with us this morning. Robert,
• 12:04
  Speaker 3: good morning. Good morning, Ryan. Obviously, everyone's a bit worried
• 12:08
  Speaker 3: about China. We've got a bunch of leaders not turning
• 12:10
  Speaker 3: up to PIF. We have responsibility for defence in the Cooks,
• 12:15
  Speaker 3: don't we? So is this a defence thing from us
• 12:17
  Speaker 3: and then a minerals thing from the Americans, or is
• 12:19
  Speaker 3: it a bit of everything, do you reckon?
• 12:22
  Speaker 13: Well, I think from the Foreign Minister's point of view,
• 12:25
  Speaker 13: it's both. I think that, yes, the Cook Islands were
• 12:30
  Speaker 13: in the realm of New Zealand, and it's no secret
• 12:33
  Speaker 13: that New Zealand was a bit dissatisfied with with the
• 12:36
  Speaker 13: Cook Islands for signing a strategic partnership agreement with China
• 12:41
  Speaker 13: over a year ago. But the relationship seems to be
• 12:43
  Speaker 13: repaired now. And this is one of Mr. Peter's longstanding
• 12:48
  Speaker 13: goals is to increase U.S. engagement in the Pacific Islands Forum.
• 12:53
  Speaker 13: And I think this is why he was so clearly
• 12:55
  Speaker 13: delighted with this agreement for the United States to invest
• 12:59
  Speaker 13: in the development of the deep-sea port, in the Cook Islands.
• 13:03
  Speaker 13: And it's quite a substantial investment, more than $ 50 million
• 13:06
  Speaker 13: by the US. And as you intimated, one of the
• 13:09
  Speaker 13: motivations for the US is an interest in deep sea
• 13:12
  Speaker 13: mining in the Cook's large exclusive economic zone where there's
• 13:17
  Speaker 13: some really important minerals.
• 13:18
  Speaker 3: Chinese will be paying attention to this. When was the
• 13:20
  Speaker 3: last time the Americans announced or did something of this
• 13:24
  Speaker 3: scale in the Pacific?
• 13:27
  Speaker 13: Well, I think you'd have to go back to the
• 13:29
  Speaker 13: Biden administration. Carmela Harris was very prominent in administration in
• 13:35
  Speaker 13: leading the charge for U.S. engagement in the Pacific. I
• 13:39
  Speaker 13: can't name any one project, but there was a really
• 13:43
  Speaker 13: substantial economic investment in the Pacific Islands region under the
• 13:48
  Speaker 13: Biden administration. Biden, for example, invited all the Pacific Islanders.
• 13:52
  Speaker 13: nation leaders to the White House for several summits. So
• 13:56
  Speaker 13: this seems to be when Mr. Peters says, oh, we're
• 13:59
  Speaker 13: back in the game. I think he's really referring to
• 14:01
  Speaker 13: the fact that the U.S. seem to be getting reengaged
• 14:06
  Speaker 13: with the Pacific for a period in which the Trump administration,
• 14:09
  Speaker 13: with its much vaunted America first, has not shown a
• 14:12
  Speaker 13: great deal of interest. But it is interested in countering China.
• 14:16
  Speaker 13: So that has obviously been an incentive for them to
• 14:20
  Speaker 13: get back to a much more active policy in the region.
• 14:22
  Speaker 3: Absolutely. Robert Patman, always good to have you on the show.
• 14:24
  Speaker 3: That is Otago University International Relations Professor. Time is 24
• 14:28
  Speaker 3: minutes after five. Some people are just lazy at work.
• 14:32
  Speaker 3: They avoid work. They don't want to do it. They
• 14:33
  Speaker 3: turn up, but they're not really there. Lights are on,
• 14:36
  Speaker 3: but no one's home. There's a South Korean police officer
• 14:41
  Speaker 3: who fits into this category, and it's not actually funny
• 14:44
  Speaker 3: what's going on here because the officer has admitted he
• 14:47
  Speaker 3: closed some missing persons cases without investigating them because he
• 14:52
  Speaker 3: didn't want to do additional work. How disgraceful. How awful. Anyway,
• 14:59
  Speaker 3: he's been arrested. He prematurely closed cases on a holiday
• 15:03
  Speaker 3: island and lied to the families of the missing people. Anyway,
• 15:09
  Speaker 3: public criticism, as you can imagine. He gets arrested. He's
• 15:12
  Speaker 3: being investigated. Anyway, the cops then belatedly go do searches
• 15:17
  Speaker 3: for the missing people. Guess what they found in the
• 15:20
  Speaker 3: past two weeks? Four bodies. News talks have been. You're
• 15:25
  Speaker 3: on Newstalk ZB, it's 5.27. IP lawyers will be licking
• 15:29
  Speaker 3: their lips, salivating with all these AI cases landing on
• 15:32
  Speaker 3: their desks at the moment, won't they? The latest, we
• 15:34
  Speaker 3: spoke about this yesterday, Sony and Warner going after Anthropic.
• 15:39
  Speaker 3: Their argument is basically that Anthropic's AI models, their Claude model,
• 15:43
  Speaker 3: the ones that we use to get answers to questions,
• 15:46
  Speaker 3: scrape and bottom trawl the internet for information. That information,
• 15:50
  Speaker 3: including song lyrics, which is where they enter, is often
• 15:53
  Speaker 3: IP owned and produced by humans and or companies. So
• 15:57
  Speaker 3: scraping it and using it to sell as a product
• 16:00
  Speaker 3: is theft, they say. Media companies in New Zealand take
• 16:04
  Speaker 3: a similar view to this. If the robot is scraping
• 16:06
  Speaker 3: content produced at cost by a news business, then how
• 16:11
  Speaker 3: is that not also theft? But if you think about it,
• 16:14
  Speaker 3: humans do this all the time. I do it every day.
• 16:18
  Speaker 3: It's actually what I'm paid to do. You ingest big
• 16:21
  Speaker 3: chunks of information. And then you use them to inform
• 16:24
  Speaker 3: interviews and content. Lawyers do it for legal cases. Politicians
• 16:28
  Speaker 3: do it all the time. Businesses do this on the daily.
• 16:31
  Speaker 3: We all do it in one way or another. And
• 16:33
  Speaker 3: we use that information that the internet gives us for
• 16:37
  Speaker 3: our own purposes, usually to make money. Knowledge is power
• 16:41
  Speaker 3: and content is king. So the question then becomes, what
• 16:44
  Speaker 3: is the difference between us doing this and using this
• 16:48
  Speaker 3: information and an AI model doing exactly the same? Surely
• 16:51
  Speaker 3: Claude is committing no greater crime than the rest of us.
• 16:54
  Speaker 3: Of course, how they get this information and their hands
• 16:57
  Speaker 3: on this information is quite key. If you're ripping it
• 17:00
  Speaker 3: off a bit torrent, then you might have other problems.
• 17:03
  Speaker 3: But if you're getting it from a paid subscription, isn't
• 17:05
  Speaker 3: that what we do? In the news business, you credit
• 17:08
  Speaker 3: your sources, but not always. There's a point where the
• 17:11
  Speaker 3: collective weight of the information that you have consumed becomes
• 17:14
  Speaker 3: your own thoughts and your own IP. Are robots really
• 17:20
  Speaker 3: any different?
• 17:21
  Speaker 1: Ryan Bridge.
• 17:22
  Speaker 3: 9292, the number to text, 29 minutes after 5. Gavin's
• 17:27
  Speaker 3: in the UK for us. They're using laundry rooms as
• 17:31
  Speaker 3: prisons over there. Prisons are so full. We'll talk to
• 17:35
  Speaker 3: Kelly Echold from Westpac. It's OCR Day today, Newstalk ZB.
• 17:39
  Speaker 13: Picking it up, picking it up.
• 17:41
  Speaker 3: Loving, I'm living, so we turning up.
• 17:44
  Speaker 9: Yeah, we turning it up.
• 17:46
  Speaker 1: The early edition full show podcast on iHeartRadio. Powered by
• 17:51
  Speaker 1: Newstalk TV. News and views you trust to start your day.
• 17:57
  Speaker 1: It's Early Edition with Ryan Bridge and Spark for Business.
• 18:01
  Speaker 1: Technology that keeps business moving. Newstalk ZB.
• 18:04
  Speaker 3: 24-8 from 6 here on Newstalk ZB. Scott Besant is
• 18:11
  Speaker 3: at the G20. There's a G20 hui going on in
• 18:13
  Speaker 3: North Carolina. The bond sell-off continues. People are now talking about,
• 18:17
  Speaker 3: are we going to repeat the Asian financial crisis? That
• 18:19
  Speaker 3: was back in 1997. You know, when do you really
• 18:22
  Speaker 3: start to have to worry about this? Kelly Echol from
• 18:24
  Speaker 3: Westpac will talk to us about that, plus the OCR,
• 18:26
  Speaker 3: which is happening today. Gavin's in London for us as well.
• 18:29
  Speaker 3: We'll get to him in about 12 minutes' time. Laundry
• 18:32
  Speaker 3: rooms are becoming prison cells because the prisons are so overcrowded.
• 18:37
  Speaker 3: anyone who's a victim of any of those criminals probably
• 18:40
  Speaker 3: won't care, will they? Put them in the cupboard, they'll say. Now,
• 18:44
  Speaker 3: Ray Gunn, you know the Olympics. Ray Gunn has done
• 18:47
  Speaker 3: a documentary. I haven't watched the documentary, but I have
• 18:50
  Speaker 3: seen bits of it, and I've seen the trailer for it,
• 18:53
  Speaker 3: and I've read a bit about it. And Ray Gunn
• 18:55
  Speaker 3: has talked about a conversation she had with a therapist
• 18:58
  Speaker 3: before she went over there, but once she got there,
• 19:01
  Speaker 3: she was basically just a blubbering mess.
• 19:04
  Speaker 10: And I'm just like crying and crying.
• 19:06
  Speaker 3: You know, my knees were shaking.
• 19:07
  Speaker 14: I could not stop crying.
• 19:08
  Speaker 3: I was trying to stop and I just couldn't.
• 19:10
  Speaker 8: I had a panic attack.
• 19:12
  Speaker 10: What am I doing?
• 19:13
  Speaker 1: What have I done?
• 19:14
  Speaker 8: What am I doing here?
• 19:15
  Speaker 4: Should I be doing this?
• 19:16
  Speaker 3: Well, that's a very good question. So before she left
• 19:19
  Speaker 3: for the games, she goes to her therapist and she says,
• 19:23
  Speaker 3: I'm panicked. What should I do? And the therapist says,
• 19:28
  Speaker 3: as therapists do, She was like, what's the worst that
• 19:31
  Speaker 3: can happen? The whole world could laugh at me? The
• 19:35
  Speaker 3: therapist then asked, do you think that's a reasonable response?
• 19:38
  Speaker 3: And she said, oh, no, no, of course not. And then,
• 19:40
  Speaker 3: of course, poor thing, the whole world's laughing, 22 to 6.
• 19:46
  Speaker 10: And still laughing.
• 19:47
  Speaker 3: Right, let's go to Jamie Cunningham Dunedin. morning.
• 19:51
  Speaker 15: Morning, Ryan.
• 19:51
  Speaker 3: Very old railway station, facelift.
• 19:54
  Speaker 16: Yes, so it's full steam ahead on Restoration Works for
• 19:58
  Speaker 16: the historic Matoura Railway Station in Southland near Gore. To
• 20:03
  Speaker 16: return it to how it looked when it was built
• 20:05
  Speaker 16: in 1921, Rail Heritage Trust Chief Executive Barry O'Donnell says
• 20:10
  Speaker 16: most of the exterior work should be finished before Christmas,
• 20:13
  Speaker 16: ahead of work starting inside. Rail Minister Winston Peters says
• 20:18
  Speaker 16: locals have been calling for the building to be restored
• 20:20
  Speaker 16: for 15 years, and it's the first to benefit from
• 20:23
  Speaker 16: KiwiRail's $ 500, 000 a year contribution to the Rail Heritage Trust.
• 20:29
  Speaker 3: Very cool. I like the sound of that. How's the
• 20:32
  Speaker 3: weather in Dunedin? Thank you, Jamie.
• 20:34
  Speaker 16: Kate Ricard with us, Christchurch.
• 20:35
  Speaker 5: Kate, good morning.
• 20:36
  Speaker 3: Morning, Lorraine.
• 20:37
  Speaker 16: So the Methodist mission wants more affordable housing for old people.
• 20:50
  Speaker 3: Yes, that's right.
• 20:51
  Speaker 8: The Mission has gathered a more than 3,000 signature strong
• 20:53
  Speaker 8: petition asking for more investment in social housing for older people.
• 20:58
  Speaker 8: It's been handed to Seniors Minister Casey Costello to present
• 21:01
  Speaker 8: to Parliament. Now people aged 55 and over are the
• 21:04
  Speaker 8: largest and fastest growing demographic on New Zealand's social housing waitlist.
• 21:08
  Speaker 8: The Mission's Executive Director, Jill Hawkey, says about 138,000 people
• 21:11
  Speaker 8: aged over 65 are renting, which is going to triple
• 21:12
  Speaker 8: in the next 20 to 25 years.
• 21:13
  Speaker 13: All right.
• 21:14
  Speaker 8: How's the weather? High cloud increasing in the morning, then
• 21:21
  Speaker 8: clearing in the evening. Northwest lees becoming gusty in the afternoon.
• 21:25
  Speaker 3: Brilliant. Kate, thank you very much for that. Let's go
• 21:26
  Speaker 3: to Max in Wellington. Morning, Max.
• 21:28
  Speaker 10: Good morning.
• 21:29
  Speaker 3: Now, this is sad. The first death at a New
• 21:31
  Speaker 3: Zealand port in four years.
• 21:33
  Speaker 2: Yes, a worker died at the Wellington waterfront yesterday morning,
• 21:36
  Speaker 2: an employee at port logistics company C3. We don't have
• 21:40
  Speaker 2: much detail at this stage. Obviously, it'll go to WorkSafe.
• 21:44
  Speaker 2: C3 describing it as a fatal injury and a tragic event.
• 21:48
  Speaker 2: Centreport supporting this stevedores family. Maritime will investigate as well.
• 21:52
  Speaker 2: The worker, not a member of the Maritime Union, but
• 21:55
  Speaker 2: it's involved supporting port workers. In 2022, Don Grant was
• 22:00
  Speaker 2: killed when he was struck and killed by coal, which
• 22:03
  Speaker 2: was being transported on the deck of a bulk carrier
• 22:06
  Speaker 2: at Lyttelton. The port company there would plead guilty to
• 22:09
  Speaker 2: a charge under the Health and Safety at Work Act
• 22:11
  Speaker 2: and find about half a million bucks. So this is
• 22:13
  Speaker 2: serious stuff. More to come as it unfolds.
• 22:16
  Speaker 13: All right.
• 22:16
  Speaker 3: How's your weather?
• 22:18
  Speaker 2: Mainly fine with Norwesterlies 15.
• 22:20
  Speaker 3: Thank you, Max. Neva's in Auckland. Morning, Neva.
• 22:22
  Speaker 5: Good morning.
• 22:22
  Speaker 3: Why wet? People know for the water slides and the
• 22:25
  Speaker 3: water park, it's turning to wellness.
• 22:27
  Speaker 17: That's right. $ 58 million redevelopment. Now, yes, it's going to
• 22:32
  Speaker 17: turn this dilapidated water park into a resort with a
• 22:35
  Speaker 17: target to open in 2028. Now, it's going to have
• 22:39
  Speaker 17: 28 pools, an indoor spa, 235 seat cafe, sauna, cold plunge.
• 22:46
  Speaker 17: And this is my favourite. A mist steam walk.
• 22:50
  Speaker 4: Hmm.
• 22:50
  Speaker 17: So why wait a thermal spring story? Managing Director, that's
• 22:53
  Speaker 17: Craig Mitchell, says, yeah, it's definitely going to have a
• 22:56
  Speaker 17: slightly different vibe to the old site. It's going to
• 23:00
  Speaker 17: be a place just to take a breath, relax and
• 23:02
  Speaker 17: connect with nature.
• 23:03
  Speaker 3: Well, I hope they do well. How's our weather?
• 23:05
  Speaker 17: Cloudy, isolated showers. Warm though, 17 to high.
• 23:08
  Speaker 3: Here in Auckland. Thanks, Chief. Good to see you this morning.
• 23:10
  Speaker 3: As always, 19 minutes away from six. So debt is
• 23:13
  Speaker 3: coming back to haunt governments around the world. You borrow,
• 23:16
  Speaker 3: you borrow, you borrow, you COVID, and then COVID finishes
• 23:19
  Speaker 3: and you keep borrowing, and then you have a bond sell-off,
• 23:22
  Speaker 3: and your bond yields shoot up. That's how much you
• 23:25
  Speaker 3: have to pay to borrow the money, and you're in
• 23:29
  Speaker 3: a spot of bother. Japan's 10-year bond yield hit 3%,
• 23:32
  Speaker 3: the first time it has hit that level since 1996 overnight.
• 23:35
  Speaker 3: The UK, 30-year up since the highest since 98. Germany, France,
• 23:40
  Speaker 3: highest in a decade. Gulf oil prices going up aren't helping.
• 23:44
  Speaker 3: The more debt you have, the harder you are hit
• 23:47
  Speaker 3: by this, hence the US being worried. The real worry, though,
• 23:50
  Speaker 3: is a debt spiral. This is what they're worried about.
• 23:53
  Speaker 3: Where you need to refinance your existing debt, the yields
• 23:57
  Speaker 3: are higher, the cost of borrowing is higher, and so
• 24:00
  Speaker 3: you therefore need to borrow more to pay for it.
• 24:03
  Speaker 3: And you borrow more to borrow more to borrow more
• 24:05
  Speaker 3: to borrow more. That is called a spiral. At what
• 24:08
  Speaker 3: point do we, globally, have to really start worrying about
• 24:12
  Speaker 3: all this stuff? Or should we have started worrying a
• 24:14
  Speaker 3: lot long ago? We'll ask Kelly Eccle just in a
• 24:17
  Speaker 3: few minutes' time. It's 18 to 6, Newstalk ZB. Here's
• 24:21
  Speaker 3: a question for you. Do KiwiSaver providers actually believe in
• 24:25
  Speaker 3: what they are doing? At Milford, the answer is pretty clear.
• 24:27
  Speaker 3: Their active approach to investing means they don't have to
• 24:31
  Speaker 3: follow any index or hold shares just because something's big
• 24:34
  Speaker 3: or popular or new or bright or shiny. Milford's team
• 24:37
  Speaker 3: has boots on the ground investigating the real value of companies,
• 24:40
  Speaker 3: carefully weighing return against risk. That's what you want. They've
• 24:44
  Speaker 3: got skin in the game, investing in the same KiwiSaver
• 24:46
  Speaker 3: funds as their clients. Morningstar's June 2026 report shows that
• 24:51
  Speaker 3: over the past 10 years, Milford's KiwiSaver plan ranked number
• 24:54
  Speaker 3: one for returns in both the growth and the balance categories.
• 24:58
  Speaker 3: Another reason to choose Milford. Find out more at milfordasset.com.
• 25:02
  Speaker 3: Past performance not a reliable indicator of future performance. Investment
• 25:05
  Speaker 3: involves risk and returns can be negative as well as positive.
• 25:08
  Speaker 3: Milford Funds Limited is the issuer of the Milford KiwiSaver plan.
• 25:11
  Speaker 3: Go to milfordasset.com to read the Milford KiwiSaver plan product
• 25:14
  Speaker 3: disclosure statement.
• 25:16
  Speaker 1: International Correspondence with NZI Insurance. Peace of mind for New
• 25:20
  Speaker 1: Zealand business.
• 25:20
  Speaker 3: 14 to 6, we'll talk to Kelly Echold on the
• 25:24
  Speaker 3: OCR in just a second. Gavin Gray, our UK Europe
• 25:26
  Speaker 3: correspondent with us. Gavin, nice to have you on the show.
• 25:28
  Speaker 3: So if you're a prisoner, look out, you might be
• 25:30
  Speaker 3: chucked in the laundry.
• 25:34
  Speaker 15: Yes, it might not be quite as it appears, however, Ryan. So, yes,
• 25:38
  Speaker 15: we've been talking about this, haven't we, how our prisons
• 25:40
  Speaker 15: in England and Wales are almost full to capacity, running
• 25:42
  Speaker 15: at something like 97% full, said to be less than
• 25:46
  Speaker 15: 1,300 prison spaces left vacant, which in a population of
• 25:50
  Speaker 15: nearly 70 million is not a lot. So the previous
• 25:53
  Speaker 15: government looked at an early release programme. Andy Burnham, the
• 25:57
  Speaker 15: new prime minister, has amended that after controversial intentional releases,
• 26:03
  Speaker 15: as it were. coming up for some police killers and
• 26:06
  Speaker 15: so forth that were obviously deeply unpopular. Now it's also
• 26:09
  Speaker 15: been revealed that the government is going to try and
• 26:11
  Speaker 15: find unused space within prisons to convert them into extra cells.
• 26:16
  Speaker 15: Among those rooms, yes, you got it, laundry rooms.
• 26:19
  Speaker 6: Hence, of course, your introduction.
• 26:21
  Speaker 15: Unused office space is another one, or storage space as well. But,
• 26:25
  Speaker 15: you know, how many extra cells could that sort of
• 26:27
  Speaker 15: space take? Well, the government's recommending it'll be a few hundred.
• 26:31
  Speaker 15: And frankly, any extra is helpful. But they are looking
• 26:35
  Speaker 15: at a new prison in Lancashire. But that's going to
• 26:37
  Speaker 15: take several years to come on stream. And also to
• 26:41
  Speaker 15: really increase and speed up the deportation of foreign national prisoners.
• 26:47
  Speaker 15: One in eight prisoners is a foreign national here, and
• 26:49
  Speaker 15: that would free up some 10,000 spaces.
• 26:52
  Speaker 3: Why can't they do that quickly? That sounds like an
• 26:54
  Speaker 3: easy solution. Put them on a plane.
• 26:57
  Speaker 1: Yes, I know.
• 26:58
  Speaker 15: And let's not forget that originally we were told that
• 27:01
  Speaker 15: there was nothing this government could do, a quick change
• 27:05
  Speaker 15: in the law to keep two particular youngsters back, young
• 27:08
  Speaker 15: men who killed a police officer. And all of a
• 27:10
  Speaker 15: sudden now we are being told there's something they could do.
• 27:13
  Speaker 15: There does seem to be this general intransigence. The general said, well,
• 27:17
  Speaker 15: we can't do anything, appearance a couple of times.
• 27:19
  Speaker 13: But you're quite right.
• 27:20
  Speaker 1: Yeah, put on a plane.
• 27:22
  Speaker 15: The only problem with some of it is some of
• 27:23
  Speaker 15: the countries involved are refusing to take those nationals back.
• 27:27
  Speaker 3: Yeah, that's a fly in the ointment. Good to have
• 27:29
  Speaker 3: you on the show as always. Gavin Gray, our UK
• 27:31
  Speaker 3: Europe correspondent. It is 12 minutes away from six. OCR
• 27:35
  Speaker 3: day today. Almost certain it's going to go up. Another
• 27:37
  Speaker 3: by Christmas, probably. So we'll go from two and a
• 27:39
  Speaker 3: half to 2.75, maybe 3% by the time we're sitting
• 27:43
  Speaker 3: down for Christmas ham. Markets pricing in near 100% chance
• 27:47
  Speaker 3: of a hike today. Kiwi Bank again saying they shouldn't.
• 27:49
  Speaker 3: Kelly Eccle, Westpac chief economist with me this morning. Kelly,
• 27:52
  Speaker 3: good morning.
• 27:53
  Speaker 11: Good morning.
• 27:54
  Speaker 3: So probably odds on it's going to happen, and there's
• 27:58
  Speaker 3: not really any surprise about that. Kiwi Bank always seems
• 28:01
  Speaker 3: to be the one saying, no, they shouldn't.
• 28:05
  Speaker 11: Yeah, I mean, Gerard's had a consistent view, I think,
• 28:09
  Speaker 11: that interest rates need to stay where they were at 2.25% most.
• 28:12
  Speaker 14: Of this year.
• 28:14
  Speaker 11: The Reserve Bank does disagree. They've made a pretty big
• 28:17
  Speaker 11: shift in their view from the start of the year.
• 28:19
  Speaker 11: Thought that they'd maybe be doing one rate hike by
• 28:22
  Speaker 11: the end of the year, whereas more recently you would
• 28:24
  Speaker 11: say they're pretty locked into 3%, maybe 3.25% depending on
• 28:29
  Speaker 11: how the data runs between now and Christmas.
• 28:31
  Speaker 3: The policy statement obviously is going to be of interest
• 28:34
  Speaker 3: to people. Where do you think they will land on
• 28:36
  Speaker 3: the peak for inflation?
• 28:40
  Speaker 11: On the peak for inflation, they're probably going to be
• 28:43
  Speaker 11: saying that where we are is pretty much where it
• 28:46
  Speaker 11: is because I think they'll still assume that oil and
• 28:49
  Speaker 11: energy prices will fall from here. So, you know, the
• 28:53
  Speaker 11: last CPI printed just over 4% and the next forecast
• 28:58
  Speaker 11: for the next quarter will be somewhere down in the
• 29:01
  Speaker 11: low to mid threes based off what they were suggesting
• 29:03
  Speaker 11: at the last policy statement. The key question really is
• 29:07
  Speaker 11: what is your view on core inflation and how high
• 29:11
  Speaker 11: is it and how quickly is it going to fall
• 29:13
  Speaker 11: because that will really determine what they do with interest
• 29:15
  Speaker 11: rates next year.
• 29:17
  Speaker 3: As always. Kelly, what about the bond markets? I was
• 29:22
  Speaker 3: reading a piece in the Wall Street Journal this morning
• 29:23
  Speaker 3: and they mentioned the Asian financial crisis of 1997. How
• 29:27
  Speaker 3: worried do we need to be about the fact that
• 29:29
  Speaker 3: the yields are going north?
• 29:33
  Speaker 11: I don't think we have to worry about the Asian
• 29:35
  Speaker 11: financial crisis type issues at the moment. There's actually some
• 29:38
  Speaker 11: fairly strong fundamental reasons. why bond yields are rising around
• 29:42
  Speaker 11: the world. First thing is that central banks are actually
• 29:45
  Speaker 11: looking to put interest rates up. You know, you've basically
• 29:49
  Speaker 11: got the Federal Reserve that probably expected to raise rates
• 29:52
  Speaker 11: one or two times. This year now, the Australian Reserve
• 29:56
  Speaker 11: Bank is also expected to potentially raise rates over the
• 30:01
  Speaker 11: balance of the year as well. And the Japanese have
• 30:04
  Speaker 11: been raising rates and are expected to continue to do
• 30:07
  Speaker 11: so as well. It's quite those Japanese 10-year bond yields
• 30:11
  Speaker 11: back up to where they were in the mid-90s, which
• 30:13
  Speaker 11: was probably the last time that their Short-term interest rate
• 30:16
  Speaker 11: was heading to around current levels as well. There's a
• 30:18
  Speaker 11: lot of competition for global capital out there. That big
• 30:22
  Speaker 11: AI sector is really sucking in long-term money now into
• 30:26
  Speaker 11: bond markets.
• 30:27
  Speaker 13: You've got to.
• 30:27
  Speaker 11: Fund all the data centres and investments, and there's competition
• 30:30
  Speaker 11: for capital. So it's really just lots of borrowers, not
• 30:34
  Speaker 11: very many lenders right now in those long-term markets.
• 30:37
  Speaker 3: And what about oil? As the price of oil goes up,
• 30:40
  Speaker 3: do investors demand higher returns because of inflation?
• 30:45
  Speaker 11: Yeah, so that has been one of the realisations as
• 30:48
  Speaker 11: we've gone through the year is that this problem in
• 30:50
  Speaker 11: the Middle East is not going to go away. This
• 30:52
  Speaker 11: morning we've got the Americans shooting again, bring cruders back
• 30:57
  Speaker 11: in the mid-90s. All of the jet fuel and diesel
• 31:00
  Speaker 11: and petrol prices are not far off the highs that
• 31:03
  Speaker 11: they were back in April. It basically says that even
• 31:06
  Speaker 11: though sales of the Reserve Bank may assume that energy
• 31:11
  Speaker 11: prices will come off, It may be a long time coming,
• 31:15
  Speaker 11: and as a result, inflation could get stuck in the
• 31:17
  Speaker 11: threes for a good long while. And if you've got
• 31:21
  Speaker 11: interest rates in the threes, in the case of New Zealand,
• 31:23
  Speaker 11: you can't have interest rates. Sorry, if you've got inflation
• 31:25
  Speaker 11: in the threes, you can't have interest rates in the twos.
• 31:28
  Speaker 11: You probably need to have interest rates in the threes,
• 31:31
  Speaker 11: and in some countries, maybe in the fours.
• 31:33
  Speaker 3: Kelly, you're called Westpac Chief Economist. Time is eight minutes
• 31:36
  Speaker 3: away from six.
• 31:37
  Speaker 13: Ryan Bridge.
• 31:38
  Speaker 3: Kelly mentioned it briefly, but two tankers carrying Saudi oil,
• 31:41
  Speaker 3: they were hit by rockets overnight trying to get through
• 31:43
  Speaker 3: the strait. Trying to get through the strait on the
• 31:45
  Speaker 3: side that the Americans said was safe to cross on.
• 31:47
  Speaker 3: This is the southern end because the US waits till
• 31:50
  Speaker 3: the night time. You turn off your transponder and then
• 31:52
  Speaker 3: you get shepherded through by some US Navy frigates. Well,
• 31:56
  Speaker 3: didn't work for two of them.
• 31:57
  Speaker 8: 7-2.
• 31:59
  Speaker 1: Ryan Bridge on Early Edition with Spark for Business. Technology
• 32:04
  Speaker 1: that keeps business moving. Newstalk ZB.
• 32:07
  Speaker 3: News Talk ZB, five minutes away from six. Mike's in
• 32:09
  Speaker 3: the studio. Morning, Mike. G'day, mate. We've been having a
• 32:12
  Speaker 3: big debate at our house about how high up the
• 32:14
  Speaker 3: wall in the living room to hang the TV. Yeah,
• 32:18
  Speaker 3: good call.
• 32:18
  Speaker 10: No one's a better expert. I'm having one hung this weekend.
• 32:21
  Speaker 11: Are you? Yes.
• 32:22
  Speaker 3: Oh, great. Are you hanging it?
• 32:24
  Speaker 10: Of course not.
• 32:25
  Speaker 3: I hung my own.
• 32:26
  Speaker 10: No, that's a classic error.
• 32:28
  Speaker 3: Getting the actual connection, the thing to put in the wall,
• 32:32
  Speaker 3: is quite a mission.
• 32:34
  Speaker 10: Couldn't agree more.
• 32:34
  Speaker 18: That's why I get professionals to do it. So are
• 32:37
  Speaker 18: you on an arm or you are into the wall itself?
• 32:40
  Speaker 3: On an arm.
• 32:41
  Speaker 11: Right.
• 32:41
  Speaker 18: So if you're on an arm, then you've got engineering
• 32:44
  Speaker 18: issues initially. We go in the wall and hiding everything
• 32:47
  Speaker 18: in the wall, therefore you have no cords.
• 32:49
  Speaker 3: Oh, sorry, no, you go through the wall and you
• 32:52
  Speaker 3: come out the bottom, so there's no cords visible.
• 32:54
  Speaker 10: Good, but you are on an arm so your television
• 32:56
  Speaker 10: can move.
• 32:57
  Speaker 3: Well, no, no, no, hang on, no. Yes, you can
• 33:00
  Speaker 3: move it, but I don't move it.
• 33:02
  Speaker 10: That's right. But are you on an arm or are
• 33:03
  Speaker 10: you connected to the wall?
• 33:05
  Speaker 3: On an arm.
• 33:05
  Speaker 10: Okay. A big call on your part. Aesthetically an interesting call.
• 33:09
  Speaker 3: Well, it doesn't stick out that much.
• 33:10
  Speaker 10: Well, yeah, but it does a little bit.
• 33:11
  Speaker 18: Whereas we've got one that's like flush to the wall
• 33:14
  Speaker 18: and it looks like a piece of art. And that's
• 33:16
  Speaker 18: the way to go. And once you get a professional,
• 33:18
  Speaker 18: it's like hanging pictures. Do you get people to hang
• 33:20
  Speaker 18: your pictures?
• 33:21
  Speaker 3: Well, we did. And then my husband started doing it
• 33:23
  Speaker 3: himself because.
• 33:24
  Speaker 10: It cost too much.
• 33:25
  Speaker 3: Hey, so hang on. How high up the wall?
• 33:27
  Speaker 10: Well, it depends what sort of room you're in.
• 33:29
  Speaker 3: You're sitting down on a couch.
• 33:30
  Speaker 18: Well, it depends on how far away you are from
• 33:32
  Speaker 18: the screen. So it's all scientific. Lower the better is
• 33:36
  Speaker 18: my argument.
• 33:37
  Speaker 10: Possibly, and it depends on how big the screen is.
• 33:40
  Speaker 3: You go into people's houses and they've got a fireplace,
• 33:42
  Speaker 3: and then they've got a TV above it on the ceiling.
• 33:47
  Speaker 10: Critical error.
• 33:48
  Speaker 3: Get out.
• 33:49
  Speaker 14: Absolutely.
• 33:50
  Speaker 3: In the bin.
• 33:50
  Speaker 18: No, that's an aesthetic. That's not for the professional television watcher.
• 33:56
  Speaker 10: Goodness sake. We're covering none of this this morning. We're
• 33:58
  Speaker 10: doing the RB.
• 34:00
  Speaker 3: Yeah, great.
• 34:00
  Speaker 10: Obviously.
• 34:02
  Speaker 3: Mike's next. You're on Newstalk ZB.