Latest / The Rita Panahi Show / The Rita Panahi Show | 15 May

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The Rita Panahi Show | 15 May · The Rita Panahi Show

• 0:02
  Speaker 1: On scorn needs Ostrodia.
• 0:05
  Speaker 2: This is the Wader Panalte Show.
• 0:08
  Speaker 3: Good evening, Welcome to the reader Panahe show.
• 0:11
  Speaker 4: I'm Caroline Druso coming up on the show tonight, and
• 0:14
  Speaker 4: a property developer delivers a die warning for Australian renters.
• 0:18
  Speaker 4: Dan Wild joins me to discuss that and the day's
• 0:20
  Speaker 4: top headlines. Labor's intention to tax unrealized capital gains, well,
• 0:24
  Speaker 4: that has caused quite a stir. I'll be joined by
• 0:27
  Speaker 4: Jeff Wilson to explain what that means for superannuans and
• 0:30
  Speaker 4: our economy. And of course everyone's favorite segment left is
• 0:34
  Speaker 4: losing it, including this compassionate lefty with a message for
• 0:38
  Speaker 4: South Africans.
• 0:39
  Speaker 5: Yeah, this is for all you yit South africaners that
• 0:43
  Speaker 5: are being shipped in by Trump. You need to know
• 0:46
  Speaker 5: the majority of Americans don't want you here.
• 0:48
  Speaker 4: But first joining me now to discuss the day's headlines
• 0:51
  Speaker 4: is Deputy Executive Director for the Institute of Public Affairs
• 0:55
  Speaker 4: Daniel Wild. Dan a fascinating development this week ASIK is
• 0:59
  Speaker 4: so doing mcquarie for allegedly misreporting our short selling over
• 1:04
  Speaker 4: a period of fourteen years. Now, what are the nature
• 1:06
  Speaker 4: of the allegations and why is that happening now?
• 1:12
  Speaker 1: Yeah, look there's a couple of things.
• 1:13
  Speaker 6: It's I think Acid has been pursuing McQuary for some
• 1:17
  Speaker 6: time now that they weren't correctly or they were under
• 1:19
  Speaker 6: reporting their short selling. So this can have implications for
• 1:22
  Speaker 6: the broader market. And what Acik is saying is it
• 1:25
  Speaker 6: can impact the confidence of the market. You know what
• 1:28
  Speaker 6: I think it's really interesting here is that it's an
• 1:30
  Speaker 6: example of what happens, whether it's mcquarie or whether it's
• 1:33
  Speaker 6: other big businesses and banks in Australia, when you take
• 1:36
  Speaker 6: your eye off the ball. Many of these organizations spend
• 1:39
  Speaker 6: all of their time moralizing to Australians about diversity, equity
• 1:43
  Speaker 6: and inclusion or ESG mandates and quotas and climate change
• 1:48
  Speaker 6: and refusing to lend to farmers because of climate change
• 1:51
  Speaker 6: and other considerations. Well, you know, this is what happens
• 1:54
  Speaker 6: when you take your eye off the ball and when
• 1:56
  Speaker 6: you ignore your key business and key considerations in this
• 1:59
  Speaker 6: casinancial institutions.
• 2:01
  Speaker 1: And I think a lot of Australians look.
• 2:02
  Speaker 6: At this and say, well, you know, just get back
• 2:04
  Speaker 6: to basics, focus on your core business rather than engaging
• 2:07
  Speaker 6: in woke moralizing that I suspect is a part of
• 2:10
  Speaker 6: the reason why they've taken their eye off the ball.
• 2:14
  Speaker 3: Yeah, it does appear to be that.
• 2:15
  Speaker 4: And look, that'll be very very interesting once those proceedings
• 2:19
  Speaker 4: progress it and we start to see a bit more
• 2:22
  Speaker 4: meat on those bones. Now, Tim Gerner, he's not backwards
• 2:25
  Speaker 4: in in saying he's peace and he has been very
• 2:29
  Speaker 4: controversial before, but this week he said that he foresees
• 2:32
  Speaker 4: a fifteen year rental crisis ahead.
• 2:35
  Speaker 3: So Dan, firstly, why is it that long? And what
• 2:38
  Speaker 3: does he suggest is the cause?
• 2:42
  Speaker 6: Well, I think there's a couple of things here, Caroline.
• 2:45
  Speaker 6: I mean, the number one cause that we have in
• 2:47
  Speaker 6: this country is this massive unplanned migration intake that's been
• 2:51
  Speaker 6: taking place since COVID. It has not been planned for,
• 2:54
  Speaker 6: it hasn't had the consent of the community, and it
• 2:56
  Speaker 6: also hasn't been targeted towards areas.
• 2:58
  Speaker 1: Of economic needs.
• 2:59
  Speaker 6: So you know, we have a housing crisis because we've
• 3:02
  Speaker 6: had this massive surge of demand coming from this massive
• 3:05
  Speaker 6: migrant intake. Now I'm not blaming the migrants themselves, because
• 3:08
  Speaker 6: of course you'd want to come to our great country
• 3:10
  Speaker 6: and have a better future, but you know, it's the
• 3:12
  Speaker 6: faults of governments for having this massive demand without the
• 3:15
  Speaker 6: supply coming online. It's not just housing. All you have
• 3:18
  Speaker 6: to do is look at the roads, the social services,
• 3:20
  Speaker 6: how long it takes to get into a GP appointment,
• 3:23
  Speaker 6: local schools. Often in many of these developments there's no
• 3:26
  Speaker 6: local public school in place. So you know, these are
• 3:29
  Speaker 6: massive issues. And yes, at the same time, we have
• 3:31
  Speaker 6: a supply side issue when you look at the taxes,
• 3:34
  Speaker 6: the red tape, all of the cost imposts upon developers
• 3:38
  Speaker 6: when they actually do want to set up a new development.
• 3:41
  Speaker 6: So look, the number one thing governments must do immediately
• 3:44
  Speaker 6: is to cut our immigration intake to ease the pressure
• 3:47
  Speaker 6: on the housing market.
• 3:51
  Speaker 3: Absolutely.
• 3:51
  Speaker 4: And if you are going to bring people in, please
• 3:54
  Speaker 4: bring in tradees because we definitely need a few more
• 3:58
  Speaker 4: of those, and it would also be helpful I suppose
• 4:00
  Speaker 4: if a few less building companies went under.
• 4:03
  Speaker 3: But you know, another one of.
• 4:05
  Speaker 4: Those woes I suppose for business but also for the
• 4:08
  Speaker 4: household is the cost of energy. And probably the least
• 4:12
  Speaker 4: surprising piece of news this week is that New South
• 4:14
  Speaker 4: Wales is the second most expensive state to run household appliances.
• 4:18
  Speaker 4: And guess what dan the cost is going to continue
• 4:21
  Speaker 4: to go up. So this is obviously going to be
• 4:24
  Speaker 4: unsurprising to anyone with half a clue. But how can
• 4:28
  Speaker 4: these governments continue to fail on energy policy when the
• 4:31
  Speaker 4: reality is clear for all of us to see.
• 4:35
  Speaker 6: Well, exactly, this has been a long time coming. You know,
• 4:39
  Speaker 6: we've been warning about the consequences of net zero for
• 4:42
  Speaker 6: a very long time and it's you know, this is
• 4:44
  Speaker 6: net zero in action. It's how it impacts the day
• 4:47
  Speaker 6: to day life of Australians, not just through energy bills,
• 4:51
  Speaker 6: not just through the increased risk of blackouts, but through
• 4:55
  Speaker 6: the things that we do every single day.
• 4:58
  Speaker 1: And you know, fortunately this is going.
• 5:01
  Speaker 6: To continue until we remove net zero and until we
• 5:05
  Speaker 6: remove emissions as a centerpiece of our energy policy. I mean,
• 5:09
  Speaker 6: energy policy should be focused on one thing, and that
• 5:11
  Speaker 6: is cutting costs, reducing prices, to ease the burden on households,
• 5:16
  Speaker 6: to ease the burden on businesses, and make sure we
• 5:19
  Speaker 6: can actually have a manufacturing and heavy industry sector again.
• 5:23
  Speaker 6: So look, unfortunately Australians are going to keep feeling the
• 5:26
  Speaker 6: pain while these inner city activists push the net zero
• 5:29
  Speaker 6: agenda upon us.
• 5:32
  Speaker 4: And despite all of that, and still on this topic,
• 5:36
  Speaker 4: you know, this sector, this energy sector has vacuumed up
• 5:39
  Speaker 4: all manner of government grants and subsidies over the last
• 5:42
  Speaker 4: few years. And for example, now questions are being asked
• 5:45
  Speaker 4: about fmg's close Gladstone plant. Well, what's the story here
• 5:50
  Speaker 4: and how those subsidies and grants impact the broader industry.
• 5:57
  Speaker 6: Yeah, I think there's a couple of things. I mean,
• 5:59
  Speaker 6: green hydrogen has basically been shown to be a hoax
• 6:02
  Speaker 6: and a bit of a fraud being perpetuated on the
• 6:04
  Speaker 6: Australian people, and in particular on those who are at
• 6:08
  Speaker 6: risk of losing their jobs in traditional industries. They were told, oh,
• 6:10
  Speaker 6: you're going to get new jobs in green hydrogen. Well,
• 6:13
  Speaker 6: I mean that's just not happening. So, and the other
• 6:16
  Speaker 6: point is this is used green hydrogen has been used
• 6:19
  Speaker 6: as a bit of a front to fleece tax payers
• 6:22
  Speaker 6: of subsidies. And you've got these sort of subsidy hunters
• 6:25
  Speaker 6: that go around and they set up these projects and
• 6:27
  Speaker 6: get subsidies and then don't go ahead with the projects
• 6:30
  Speaker 6: or the projects shut down.
• 6:31
  Speaker 1: And I think it's a real issue.
• 6:33
  Speaker 6: I think the subsidies should be paid back where a
• 6:36
  Speaker 6: project does not go ahead, and we also need to
• 6:39
  Speaker 6: get real about this fact that green hydrogen is not
• 6:42
  Speaker 6: the future, at least not at the moment. I'm all
• 6:44
  Speaker 6: in favor of exploring new technologies, but at the end
• 6:46
  Speaker 6: of the day, we need base load power supply that
• 6:49
  Speaker 6: actually exists right now, and what we have is coal
• 6:52
  Speaker 6: and gas. That's how you keep the lights on and
• 6:54
  Speaker 6: get prices down and keep regional communities ticking over.
• 7:00
  Speaker 4: Now, want to end education and a fascinating piece in
• 7:03
  Speaker 4: the age where Frank Cardi, and he's the chair of
• 7:06
  Speaker 4: Victoria's Independent Office of School Dispute Resolution, has suggested that
• 7:10
  Speaker 4: parents should face it a thousand dollar fine for defaming
• 7:14
  Speaker 4: teachers or principles online. Now, Daniel, I'm sure there is
• 7:19
  Speaker 4: a problem there of some sort, but is that.
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  Speaker 3: Really the solution?
• 7:25
  Speaker 1: Well, sadly, maybe it is.
• 7:26
  Speaker 6: I mean, I haven't come across this before, but you know,
• 7:30
  Speaker 6: reading the article, it's something that's not common, but it
• 7:32
  Speaker 6: does happen. And look, I think that a school has
• 7:36
  Speaker 6: every right to protect its teachers and its principal. I mean,
• 7:40
  Speaker 6: I was actually a candidate for the Liberal Party in
• 7:43
  Speaker 6: the election recent federal election, and one of the things
• 7:46
  Speaker 6: I did was meet with schools and school principles, and
• 7:48
  Speaker 6: I was shocked to learn that one of the highest
• 7:50
  Speaker 6: burnout rates and one of the highest levels of actually
• 7:53
  Speaker 6: post traumatic stress is among principles. So I don't doubt
• 7:57
  Speaker 6: that there's a real problem here. And it's not just
• 7:58
  Speaker 6: this particular issue, but the range of other issues that
• 8:02
  Speaker 6: principles and school staff have to deal with. So I mean,
• 8:05
  Speaker 6: if you've got parents that are defaming or abusing teachers
• 8:10
  Speaker 6: or principles or support staff, then I think there needs
• 8:12
  Speaker 6: to be consequences. And it's just I think another example
• 8:14
  Speaker 6: of what a mess, what an absolute mess our education
• 8:18
  Speaker 6: system has become.
• 8:19
  Speaker 1: Unfortunately.
• 8:22
  Speaker 4: Yeah, and it appears to me that there's all these
• 8:25
  Speaker 4: other underlying issues and I just feel like, you know, yes,
• 8:28
  Speaker 4: this is something that needs to be dealt with, but
• 8:30
  Speaker 4: there's probably also those deeper issues that need to be
• 8:33
  Speaker 4: dealt I think this is symptomatic of something else. Essentially,
• 8:36
  Speaker 4: now onto the UK and here is British Prime Minister
• 8:40
  Speaker 4: Keir Starmer and a stunning about face on immigration policy.
• 8:44
  Speaker 2: So when you have an immigration system that seems almost
• 8:48
  Speaker 2: designed to permit abuse, then you're not championing growth, you're
• 8:53
  Speaker 2: not championing justice or how else people defend the status quo.
• 8:59
  Speaker 2: You're actually contributing to the forces that are slowly pulling
• 9:02
  Speaker 2: our country apart. So yes, I believe in this. I
• 9:08
  Speaker 2: believe we need to reduce immigration significantly.
• 9:12
  Speaker 7: Dan.
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  Speaker 4: Is this a come to Jesus moment for Starma or
• 9:15
  Speaker 4: has he simply been mugged by political reality.
• 9:22
  Speaker 6: I really think this is a landmark speech. I think
• 9:25
  Speaker 6: this will have far reaching consequences in the UK and
• 9:28
  Speaker 6: around the Western world.
• 9:29
  Speaker 1: This is the.
• 9:30
  Speaker 6: Speech that we need to hear here in Australia, and
• 9:35
  Speaker 6: our political leaders haven't been up to the job. I'm
• 9:37
  Speaker 6: surprised to hear it from Keir Starmer. I didn't expect
• 9:40
  Speaker 6: him to do this, but he has and I think
• 9:42
  Speaker 6: this is incredibly important. Clearly he's under electoral pleasure from
• 9:47
  Speaker 6: Nigel Farage. This speech would not have been given without
• 9:50
  Speaker 6: Nigel Farage and his Reform Party having made significant m
• 9:54
  Speaker 6: roads at the recent council elections, and he can quite
• 9:57
  Speaker 6: clearly see the writing on the wall that a si
• 10:00
  Speaker 6: significant majority of mainstream British society are fed up with
• 10:04
  Speaker 6: the immigration program. It was also a list of substantive
• 10:07
  Speaker 6: proposals that he's put forward. He has now also created
• 10:11
  Speaker 6: a rod for his back. He's going to have to
• 10:12
  Speaker 6: deliver and deliver very significant reductions to the immigration intake
• 10:17
  Speaker 6: into the UK.
• 10:18
  Speaker 1: But a lot of what.
• 10:19
  Speaker 6: Keir Starmer said, sadly, particularly when he talked about an
• 10:23
  Speaker 6: island of strangers, that applies to Australia as well. And
• 10:27
  Speaker 6: I hope the government here is paying attention because we
• 10:30
  Speaker 6: need action on this issue.
• 10:33
  Speaker 3: I couldn't agree more.
• 10:35
  Speaker 4: Dan back here in Australia and new data is showing
• 10:37
  Speaker 4: that wages grew over the March quarter and they are
• 10:40
  Speaker 4: above the inflation rate annually. Now Michelle Bullok at the
• 10:44
  Speaker 4: Reserve Bank, she has still suggested caution.
• 10:48
  Speaker 3: What is the basis of that caution?
• 10:51
  Speaker 4: What's the issue that remains and is it or is
• 10:55
  Speaker 4: it's not as simple I suppose as the economy just recovering.
• 11:00
  Speaker 1: Well, I think there's a couple of issues.
• 11:02
  Speaker 6: One is we don't have much productivity growth, and so
• 11:05
  Speaker 6: if the supply of your economy isn't increasing and wages
• 11:08
  Speaker 6: are going up and you're pumping more money into the economy,
• 11:10
  Speaker 6: that can fuel inflation. So there's a concern there and
• 11:13
  Speaker 6: basically the reason why we care about the supply side
• 11:16
  Speaker 6: of the economy is it really reflects the capacity of
• 11:18
  Speaker 6: your economy to generate wealth, and so if that's not growing,
• 11:22
  Speaker 6: then the fundamentals of the economy are not improving. So
• 11:25
  Speaker 6: it's obviously great news that real wages are going up,
• 11:28
  Speaker 6: but what we need to see is that is for
• 11:30
  Speaker 6: that to be sustainable. And I think that's partly why
• 11:33
  Speaker 6: Jim Chalmers has pointed to productivity as being an aim
• 11:35
  Speaker 6: of his Now, whether they follow through and I don't know,
• 11:38
  Speaker 6: but they're on the right path if they are generally
• 11:40
  Speaker 6: going to do something about it.
• 11:43
  Speaker 4: Indeed, now we don't usually associate the Australian Financial Review
• 11:47
  Speaker 4: with the Royal family, but it appears that ASX listed
• 11:51
  Speaker 4: company len Lease, they're expected to announce a fifty to
• 11:55
  Speaker 4: fifty joint venture with the Crown as state Dan.
• 11:58
  Speaker 8: What's the deal?
• 12:01
  Speaker 1: Well, I think this is really interesting. I mean.
• 12:04
  Speaker 6: King Charles has always had an interest in urban development
• 12:07
  Speaker 6: and architectural beauty. He's actually set up basically his own
• 12:11
  Speaker 6: suburb that exists, if you like, called Mini County in
• 12:15
  Speaker 6: the UK that's kind of designed around his views of
• 12:18
  Speaker 6: a Villagy type arrangement. Now, I don't know whether this
• 12:21
  Speaker 6: landlease deal is going to go to that or not,
• 12:23
  Speaker 6: But I think it's in keeping with an interest that
• 12:25
  Speaker 6: King Charles has shown over many years about wanting people
• 12:28
  Speaker 6: to live in a certain sort of beautified and dignified
• 12:32
  Speaker 6: environment that often we're lacking. A lot of new developments
• 12:35
  Speaker 6: are done in a way that are functional and are needed,
• 12:40
  Speaker 6: but don't always take into account the human consideration.
• 12:43
  Speaker 1: So I'm going to be interested to see what comes
• 12:45
  Speaker 1: out of it.
• 12:47
  Speaker 4: I think it's going to be absolutely fascinating. Daniel Wilde,
• 12:49
  Speaker 4: thank you so much for your time joining me Now.
• 12:52
  Speaker 4: Is Wilson Asset Management founded? Jeff Wilson. Jeff, Welcome to
• 12:56
  Speaker 4: the show. An alluming political issue is Labour's in ten
• 13:00
  Speaker 4: to tax unrealized capital gains. Just to start with for
• 13:04
  Speaker 4: our audience, can you please explain the nature or the
• 13:07
  Speaker 4: principle of what Labor's intending to do here.
• 13:10
  Speaker 9: Yeah, look, thanks Carolyn, thanks for your time. The labor
• 13:14
  Speaker 9: government is bringing in what they plan on bringing it
• 13:19
  Speaker 9: just needs to go through the Senate a policy whereby
• 13:26
  Speaker 9: come superannuation funds that have more than three million dollars
• 13:30
  Speaker 9: in will pay an additional tax of fifteen percent, So
• 13:34
  Speaker 9: it's all up tax of about thirty percent over that
• 13:37
  Speaker 9: three million dollar mark, which I think no people that
• 13:42
  Speaker 9: have money and super are concerned about. Where the concern is.
• 13:46
  Speaker 9: For some reason, the government is talking about taxing unrealized gains.
• 13:53
  Speaker 9: So the theoretical change in the value of your investments
• 13:58
  Speaker 9: that aren't turned into aren't realized and it's really bad
• 14:04
  Speaker 9: tax policy. Also, what they're saying is that they're not
• 14:08
  Speaker 9: going to index the three million dollar cap, which means
• 14:13
  Speaker 9: that eventually everyone in Australia with inflation will be paying
• 14:19
  Speaker 9: this tax. So that's the parts. All I need to
• 14:23
  Speaker 9: do is index it and remove the tax on unrealized
• 14:28
  Speaker 9: gains which sort of are paper profits or theorical profits
• 14:31
  Speaker 9: which may end up turning into losses.
• 14:35
  Speaker 4: Yeah, and obviously is a huge cash flow issue. But
• 14:40
  Speaker 4: yesterday Treasurer Jim Chalmers he tried to applicate fears.
• 14:43
  Speaker 3: Here's what he had to say.
• 14:45
  Speaker 7: We've made it clear that these changes are relatively modest,
• 14:48
  Speaker 7: but they're important in the context of the budget and
• 14:51
  Speaker 7: define benefit schemes have been appropriately recognized as part of
• 14:55
  Speaker 7: our effort.
• 14:56
  Speaker 4: Whenever a politician says something he is modest, it eventually,
• 15:02
  Speaker 4: in inevitably my ears prick up. What are the unintended
• 15:07
  Speaker 4: consequences of this policy on the superannuation.
• 15:11
  Speaker 9: Industry, They are significant. Jim Charmers and also Anthony Albernizi
• 15:21
  Speaker 9: they say that the taxony impacts a very small percentage
• 15:25
  Speaker 9: of the Australian population point five percent, and that is correct.
• 15:30
  Speaker 9: The negative part or the illogical part, or the reason
• 15:36
  Speaker 9: why there are those significant unintended consequences is because it
• 15:41
  Speaker 9: will impact the behavior of the whole superannuation industry and
• 15:46
  Speaker 9: that's really a major supporter of corporate Australia. So four
• 15:53
  Speaker 9: point two trillion dollars, it's going to impact how that
• 15:58
  Speaker 9: four point two trillion dollar, how it behaves. So why
• 16:02
  Speaker 9: would you take risk? So there's one point one trillion
• 16:07
  Speaker 9: dollars in self managed super funds. They have been big
• 16:11
  Speaker 9: supporters of startups small companies in Australia and now if
• 16:16
  Speaker 9: they're going to be taxed on a pretend profit that
• 16:19
  Speaker 9: may never eventuate, why are you going to take the risk?
• 16:22
  Speaker 9: So that there are significant untended constants we estimate that
• 16:27
  Speaker 9: are close to one hundred and fifty billion dollars will
• 16:32
  Speaker 9: come out of the superannuation sector and go onto the
• 16:36
  Speaker 9: property sector because there's no tax on your own home,
• 16:40
  Speaker 9: whether it's your home or your children's home or your
• 16:42
  Speaker 9: grandchildren's home. I mean we're already seeing it. I think
• 16:45
  Speaker 9: front page of the Financial Review today they're saying self
• 16:49
  Speaker 9: managed super funds panic money coming out before June thirty. Well,
• 16:54
  Speaker 9: actually you've got to a June thirty next year to
• 16:57
  Speaker 9: get the money to me. It's the the Unfortunately, this tax,
• 17:04
  Speaker 9: it will backfires. It's not a it's not a good
• 17:08
  Speaker 9: tax and a good idea.
• 17:11
  Speaker 3: And is that because the government.
• 17:13
  Speaker 4: I mean, look in principle, I find the principal offensive
• 17:16
  Speaker 4: in itself. But has the government just not not consulted
• 17:21
  Speaker 4: broadly enough or understood the actual human behaviors that are
• 17:27
  Speaker 4: essentially going to occur to be able to avoid paying
• 17:32
  Speaker 4: tax on unrealized capital gains.
• 17:36
  Speaker 9: Well that could be the case, or you know what's
• 17:40
  Speaker 9: probably more concerning. I know from page to The Australian
• 17:43
  Speaker 9: the other day Matthew Cranston wrote an article and it's
• 17:47
  Speaker 9: said that Treasury has been trying to bring in the
• 17:51
  Speaker 9: tax on unrealized games for the last fifteen years. So
• 17:55
  Speaker 9: maybe this is a way of the thin edge of
• 17:58
  Speaker 9: the wedge getting them in. I think what the government
• 18:02
  Speaker 9: doesn't understand, or maybe it hasn't fully modeled, or it's
• 18:06
  Speaker 9: a bigger conspiracy theory they want to put it on
• 18:10
  Speaker 9: other assets family homes, etc. Is Globally this has failed.
• 18:17
  Speaker 9: More recently, Norway brought in at a tax for the
• 18:22
  Speaker 9: very high income earners, an unrealized gains tax, and fifty
• 18:30
  Speaker 9: six billion dollars left Norway instead of the money. They're
• 18:34
  Speaker 9: only expecting to raise about one hundred and fifty million
• 18:38
  Speaker 9: dollars from this new tax, and instead they went negative
• 18:43
  Speaker 9: close to five hundred million dollars. So what they don't
• 18:46
  Speaker 9: realize is everyone changes their behavior. And it's clear already
• 18:50
  Speaker 9: that people are going to start changing their behavior.
• 18:54
  Speaker 4: And you mentioned investment in startup and you mentioned the
• 18:58
  Speaker 4: potential for that extra liquided or that extra demand to
• 19:01
  Speaker 4: go into the housing market.
• 19:03
  Speaker 3: But what are the broader.
• 19:04
  Speaker 4: Industry and investment consequences either have we seen elsewhere or
• 19:09
  Speaker 4: would we suspect under a policy change like this.
• 19:13
  Speaker 9: Well, I mean just another example in the UK in
• 19:17
  Speaker 9: terms of the unintended consequences. In the UK, they increase
• 19:20
  Speaker 9: the tax on capital gains by twenty one percent and
• 19:25
  Speaker 9: instead of the tax take increasing by twenty percent, it
• 19:28
  Speaker 9: actually fell by ten percent.
• 19:30
  Speaker 10: So.
• 19:32
  Speaker 9: But probably one of the biggest ones. It's really really
• 19:37
  Speaker 9: everyone is now questioning superannuation. Is superannuation this pot of
• 19:43
  Speaker 9: gold that every government tries to take money out of.
• 19:50
  Speaker 9: People that are older they can take their money out
• 19:52
  Speaker 9: of Super and there's no consequences. Younger people are locked
• 19:55
  Speaker 9: in there, and I'm aware of a number of people
• 19:59
  Speaker 9: that have said, hey, look, we're not going to We're
• 20:01
  Speaker 9: going to try to put as little as we can
• 20:03
  Speaker 9: into Super going forward. So it really that that pool
• 20:07
  Speaker 9: of capital that's helped support growing small businesses in Australia
• 20:13
  Speaker 9: that Paul Keating is very proud of. You know, I think, well,
• 20:19
  Speaker 9: he's already well he hasn't come out publicly, but privately
• 20:21
  Speaker 9: he's come out and said that he thinks it's just
• 20:24
  Speaker 9: really bad, bad policy.
• 20:29
  Speaker 4: Now, just one last thing before we go, Asik has
• 20:33
  Speaker 4: launched prosecution proceedings against Macquarie and the allegations there relate
• 20:39
  Speaker 4: to the reporting of short selling. Obviously it's subject to
• 20:42
  Speaker 4: a legal process and they're just allegations at the moment,
• 20:45
  Speaker 4: But what do you make of that particular.
• 20:47
  Speaker 9: Move, Well, in terms of does it make mcquarie a
• 20:53
  Speaker 9: less attractive investment. You will it have a negative impact
• 20:56
  Speaker 9: on their earnings?
• 20:58
  Speaker 11: Uh?
• 20:58
  Speaker 9: You know, the answer is is probably no from an
• 21:03
  Speaker 9: investment perspective. In terms of is it the fact that
• 21:09
  Speaker 9: they've let this happen? Is that is that poor corporate behavior?
• 21:15
  Speaker 9: The answer is yes. Now they obviously haven't communicated clearly
• 21:20
  Speaker 9: with the with the regulator, and they're going to suffer
• 21:24
  Speaker 9: the consequences. You know, there will be some financial pain.
• 21:28
  Speaker 9: It will be a one on financial pain. Maybe this
• 21:31
  Speaker 9: is a function of growing too quickly and not having
• 21:36
  Speaker 9: the right systems in place. That that's what appears like
• 21:40
  Speaker 9: to me. I mean, obviously this will this is a
• 21:43
  Speaker 9: big wake up call for them to get their house
• 21:47
  Speaker 9: one hundred percent in order.
• 21:50
  Speaker 4: Yeah, I'd say it absolutely would be. Jeff Wilson, thank
• 21:54
  Speaker 4: you so much for your time and your insight.
• 21:56
  Speaker 3: Still to come. Left is losing it.
• 21:58
  Speaker 4: Plus Trump delivers speech to the Saudi US Investment Forum.
• 22:03
  Speaker 4: Batio Unga Sagon joins us to explain why she labeled
• 22:06
  Speaker 4: it the most momentous foreign policy address of her time.
• 22:19
  Speaker 4: Welcome back, and now it's time for lefties losing it.
• 22:23
  Speaker 4: And first up, this bloke is pretty convinced that white
• 22:26
  Speaker 4: people coming to the US from South Africa are all racist,
• 22:30
  Speaker 4: all of them not grateful at all to have a
• 22:32
  Speaker 4: new home in the Land of the Free.
• 22:35
  Speaker 3: Just there to be big goal racists.
• 22:37
  Speaker 10: I need y'all realize what Trump just did. He brought
• 22:40
  Speaker 10: eight thousand white people out here from South Africa, not
• 22:43
  Speaker 10: because they need refuse, not because they need asylum. It's
• 22:48
  Speaker 10: because he knows these eight thousand white South Africans are racist.
• 22:53
  Speaker 10: He knows they fore to come over here and they're
• 22:55
  Speaker 10: gonna be blatantly racist thinking that they're still in South Africa.
• 23:00
  Speaker 10: These eight thousand races don't burn out the hard way.
• 23:03
  Speaker 10: They don't out. You can't tump that over on FOI.
• 23:07
  Speaker 4: And of course it didn't take long for the Karens
• 23:10
  Speaker 4: to jump on the bandwagon.
• 23:12
  Speaker 5: Yeah, this is for all you white tea South Africaners
• 23:16
  Speaker 5: that are being shipped in by Trump. You need to
• 23:18
  Speaker 5: know the majority of Americans don't want you here. You
• 23:22
  Speaker 5: just jump back on another plane and fly your little racist,
• 23:27
  Speaker 5: white supremacist butts right on back to these to your country,
• 23:32
  Speaker 5: go back to Africa.
• 23:34
  Speaker 4: And it doesn't even And there even Bishop Sean Roe
• 23:38
  Speaker 4: from the Episcopal Church seemed against helping white refugees from
• 23:42
  Speaker 4: South Africa.
• 23:43
  Speaker 12: We can't be ourselves in the Episcopal Church and take
• 23:45
  Speaker 12: the step of resettling white africaners from South Africa. Our
• 23:49
  Speaker 12: church has a long commitment to racial justice and reconciliation
• 23:54
  Speaker 12: and we have a historic ties with the Anglican Church
• 23:56
  Speaker 12: of South Africa. Desmond Tutu is a part of a
• 24:01
  Speaker 12: partner and a partner in this work for us. We're
• 24:04
  Speaker 12: just not able to take this staff. It's not in
• 24:08
  Speaker 12: line with anything that we're about.
• 24:11
  Speaker 4: So Jesus can hang out with the tax collectors and
• 24:13
  Speaker 4: the sinners, but apparently he can't hang out with.
• 24:16
  Speaker 3: The saffas well. That's a very interesting delineation there. And
• 24:21
  Speaker 3: if there was any.
• 24:21
  Speaker 4: Question that white people have had a target on their back,
• 24:25
  Speaker 4: just look at this speech by South African politician from
• 24:28
  Speaker 4: back in twenty eighteen. This rhetoric has clearly been around
• 24:32
  Speaker 4: for some time. Fine, if you back to the US
• 24:51
  Speaker 4: and onto lefty economics and the Oakland mayor thinks you
• 24:56
  Speaker 4: get rid of inflation by raising the minimum wage.
• 24:59
  Speaker 13: You call it for a fifty dollars an hour federal
• 25:02
  Speaker 13: minimum wage. That's seven times the current national minimum wage
• 25:05
  Speaker 13: of seven to twenty five an hour. Can you explain
• 25:08
  Speaker 13: how that would be economically sustainable for small businesses.
• 25:12
  Speaker 14: In the Bay Area. I believe it was the United
• 25:14
  Speaker 14: Way came out with the report that very recently one
• 25:19
  Speaker 14: hundred and twenty seven thousand dollars for a family of
• 25:22
  Speaker 14: four is just barely enough to get by. Another survey
• 25:27
  Speaker 14: very recently one hundred and four thousand for a family
• 25:30
  Speaker 14: of one barely enough to get by low income because
• 25:34
  Speaker 14: of the affordability crisis, and so just do the math.
• 25:37
  Speaker 4: Frederick Hayek was bang on the money when he said
• 25:40
  Speaker 4: he socialist understood economics, they wouldn't be socialists. But there
• 25:44
  Speaker 4: is still more, and the barrage of progressives against RFK
• 25:48
  Speaker 4: Junior continues, and it continues to escalate.
• 25:52
  Speaker 3: Even the Capitol Police had to get involved.
• 25:54
  Speaker 9: The budget I'm presenting today is of courts. These goals reflects.
• 26:09
  Speaker 1: The witness will suspend your committee.
• 26:10
  Speaker 8: Will become your order.
• 26:12
  Speaker 15: Capital police are asked to remove the individuals will.
• 26:16
  Speaker 4: The members of the audience, and among those arrested was
• 26:19
  Speaker 4: Ben and Jerry's co founder Ben Cohen.
• 26:21
  Speaker 3: Now we've seen some pretty revolting carry on from Ben
• 26:24
  Speaker 3: and Jerry's but I can't.
• 26:25
  Speaker 4: Decide if this later stunt is just an exercising consistency
• 26:29
  Speaker 4: or quite frankly, the cherry on the top of that
• 26:31
  Speaker 4: ice cream.
• 26:32
  Speaker 3: Here he is again from another angle.
• 26:35
  Speaker 7: The audience reminded disruptions will not be permitted while the
• 26:39
  Speaker 7: committee conducts his business. Capitol police are asked to remove
• 26:43
  Speaker 7: the individuals from the hearing room.
• 26:45
  Speaker 4: And lastly, and of course, this segment would be nothing
• 26:48
  Speaker 4: without progressives indulging their children who identify as another species.
• 26:52
  Speaker 11: The best teacher my daughter has ever had. She lets
• 26:56
  Speaker 11: her be as weird as she is, and she encourages it,
• 26:59
  Speaker 11: and she enjoys it, and that is really meaningful to
• 27:05
  Speaker 11: me and my family. She calls my daughter Ellie Cat
• 27:08
  Speaker 11: because in adit and during attendance my daughter meals instead
• 27:12
  Speaker 11: of saying here, And she doesn't make her feel bad
• 27:15
  Speaker 11: about it. She just imprases it and she loves it.
• 27:18
  Speaker 11: And that's really cool for me as a parent, and
• 27:21
  Speaker 11: it's really cool for my daughter to feel seen in school.
• 27:24
  Speaker 4: It's no longer just fashionable enough to identify as another gender.
• 27:28
  Speaker 4: We need to keep upping the ante.
• 27:30
  Speaker 3: On this escape from reality.
• 27:32
  Speaker 4: I'm done joining me now is author and journalist Battia
• 27:36
  Speaker 4: Unga Sagon Batia. I want to start with Trump's speech
• 27:40
  Speaker 4: to the Saudi US Investment Forum.
• 27:42
  Speaker 15: This way here it is, as president of the United States,
• 27:49
  Speaker 15: my preference will always be for peace and partnership whenever
• 27:54
  Speaker 15: those outcomes can be achieved. Always, it's always going to
• 27:57
  Speaker 15: be that way.
• 27:58
  Speaker 8: Only a fool would think other.
• 28:00
  Speaker 4: And in a post on Eggs you said it was
• 28:02
  Speaker 4: probably the most momentous foreign policy address of your lifetime.
• 28:07
  Speaker 8: Was that.
• 28:09
  Speaker 3: Thank you so much for having me. Yes.
• 28:11
  Speaker 16: As I wrote about in my Free Press column, what
• 28:14
  Speaker 16: the President did throughout his hour long speech was effectively
• 28:18
  Speaker 16: repudiate both the sort of neokon war mongering of Republican
• 28:23
  Speaker 16: administration's past, but also the kind of appeasement and attempts
• 28:28
  Speaker 16: to find common ground and insist that everybody has the
• 28:31
  Speaker 16: same values of democratic administrations.
• 28:35
  Speaker 8: Of the past.
• 28:36
  Speaker 16: So he took on both, you know, the Bush model
• 28:38
  Speaker 16: and the Obama Biden model and said, we're not going
• 28:41
  Speaker 16: to do either of those things.
• 28:42
  Speaker 1: We're going to.
• 28:43
  Speaker 16: Respect the sovereignty of our allies, and we're going to
• 28:48
  Speaker 16: respect the sovereignty of our own people, and we're going
• 28:52
  Speaker 16: to prioritize the dignity of working class Americans by looking
• 28:55
  Speaker 16: for partners who bring something to the table, who are
• 28:58
  Speaker 16: able to fight their own fight and come together and
• 29:02
  Speaker 16: put aside warring factionalism in order to pursue peace through
• 29:08
  Speaker 16: strength and through partnership, through commerce, through the great economic
• 29:13
  Speaker 16: boon that the President was able to generate through the
• 29:16
  Speaker 16: Abraham Accords. So this is really a new moment in
• 29:19
  Speaker 16: American foreign policy. They're putting aside the nation building and
• 29:23
  Speaker 16: the failed forever wars that we've been having in this
• 29:26
  Speaker 16: country for the last decades. Donald Trump is fundamentally anti war.
• 29:31
  Speaker 16: He hates war. He thinks it's unbelievably wasteful. And what
• 29:34
  Speaker 16: he's offering both to the American people and to the
• 29:37
  Speaker 16: globe is partnership through strength, through deals, through success, and
• 29:45
  Speaker 16: through bringing massive amounts of investment back home to the US.
• 29:49
  Speaker 16: It's really a golden age in America. And he is
• 29:51
  Speaker 16: inviting our allies to join us if they're willing to
• 29:54
  Speaker 16: put down their guns and their swords and pursue peace
• 29:57
  Speaker 16: over war.
• 30:00
  Speaker 3: And you mentioned the Ibraham mccolds.
• 30:01
  Speaker 4: Luke Hayes urged Syrian and Saudi latest to sign the
• 30:05
  Speaker 4: Abraham Accords recognizing Israel.
• 30:08
  Speaker 3: How big a deal is that.
• 30:10
  Speaker 16: It's a really big deal, and the way that he
• 30:13
  Speaker 16: phrased it in his speech was really beautiful. He said
• 30:15
  Speaker 16: he personally would be very honored if the Saudis would
• 30:19
  Speaker 16: join the Abraham Accorns and sign normalization with Israel on
• 30:23
  Speaker 16: their own time. He was very clear to say that's
• 30:26
  Speaker 16: not going to happen right now. Obviously the situation in
• 30:29
  Speaker 16: Gaza is too volatile. But this was really a shot
• 30:32
  Speaker 16: across the bow both for the Saudis and I think
• 30:34
  Speaker 16: for the Israelis to be a little bit more open
• 30:39
  Speaker 16: to a different approach to fighting their wars, which of
• 30:43
  Speaker 16: course are just wars, but to think more broadly and
• 30:47
  Speaker 16: more openly about what President Trump can achieve for them,
• 30:50
  Speaker 16: given the success that he brought to the Middle East
• 30:53
  Speaker 16: through the Abraham Accords.
• 30:56
  Speaker 4: And in just the last twenty four hours it Baine
• 30:58
  Speaker 4: reports of an IDF striking Unis aimed at well, who
• 31:01
  Speaker 4: is now? I suppose the de facto later Mohammed Simoa.
• 31:05
  Speaker 3: What's the lightest on that?
• 31:08
  Speaker 16: Yes, we can only hope that these that these reports
• 31:11
  Speaker 16: are accurate. Hamas's leadership is in absolute tatters. There is
• 31:16
  Speaker 16: a vacuum there, there is nobody leading the terrorist organization.
• 31:21
  Speaker 16: The way that they released the American captive Dane Alexander
• 31:26
  Speaker 16: was through an intermediary, and so it's really an opportune
• 31:30
  Speaker 16: moment for somebody like the Saudis or the Qataris to say,
• 31:35
  Speaker 16: you know what, in recognition of what President Trump is
• 31:38
  Speaker 16: offering us, We're going to step into that leadership hole
• 31:42
  Speaker 16: and really pursue peace on behalf of the forgotten Palestinian
• 31:46
  Speaker 16: people who have been living, of course as Hamas's hostages
• 31:51
  Speaker 16: for over fifteen years.
• 31:55
  Speaker 4: Now back home in the US, and since the presidential election,
• 31:59
  Speaker 4: it's really been quite astonishing some of the admissions about
• 32:02
  Speaker 4: Biden's cognitive decline, but the revisionism and the refraining of
• 32:07
  Speaker 4: the narrative. Look, it's almost been impressive.
• 32:10
  Speaker 3: And Jack Tapper is.
• 32:11
  Speaker 4: Obviously the most notable just released a book what's been
• 32:15
  Speaker 4: most notable about it?
• 32:16
  Speaker 11: For you?
• 32:18
  Speaker 16: I'm really really disgusted with this because they aren't doing
• 32:23
  Speaker 16: this because they actually care about telling the truth. They're
• 32:26
  Speaker 16: doing this because they are trying to launder their reputations
• 32:30
  Speaker 16: so that they can once again seize power. They know
• 32:33
  Speaker 16: that the American people were exposed to their lying and
• 32:36
  Speaker 16: to their gaslighting. All of these people who had access
• 32:40
  Speaker 16: to the president and knew what the situation was kept
• 32:43
  Speaker 16: that to themselves for as long as they thought that
• 32:45
  Speaker 16: he was still able to give them the power that
• 32:48
  Speaker 16: they so desperately want. And the minute the American people
• 32:52
  Speaker 16: became wise to this on their own because of the debate,
• 32:54
  Speaker 16: they stabbed Biden in the back and the roost was up.
• 32:59
  Speaker 16: But to me, this whole fake maya culpa is just
• 33:02
  Speaker 16: as appalling as the initial gas lighting because it's not real.
• 33:07
  Speaker 16: It's not about anything except their limitless desire for more
• 33:11
  Speaker 16: and more power. And the worst part about it is
• 33:14
  Speaker 16: that the Democrats don't even know what they want to
• 33:16
  Speaker 16: do with that power. They have no agenda. If you
• 33:20
  Speaker 16: ask them, okay, you want to win, why what would
• 33:24
  Speaker 16: you do if you want? They literally have no answer.
• 33:28
  Speaker 16: And when you see what they're prioritizing right now, whether
• 33:32
  Speaker 16: it's trans people and women's sports, or illegal immigrants or
• 33:36
  Speaker 16: gang bangers, it really boggles the mind. They're very, very lost,
• 33:41
  Speaker 16: and the reason for that is because Donald Trump stole
• 33:45
  Speaker 16: everything that was popular from their agenda. They abandoned the
• 33:49
  Speaker 16: working class, they abandoned the labor to cater to far left,
• 33:53
  Speaker 16: radical economic elites, and that's who their base is now,
• 33:57
  Speaker 16: the top ten percent. Unfortunately, can't when an election with
• 34:01
  Speaker 16: ten percent of the electorate.
• 34:03
  Speaker 3: No, you absolutely can't.
• 34:05
  Speaker 4: And it's been so self serving, obviously, as you said,
• 34:10
  Speaker 4: laundering their reputations. But there's been plenty of people saying
• 34:14
  Speaker 4: plenty about this for a very long time, and it's
• 34:18
  Speaker 4: occasionally nice to be right about these things.
• 34:21
  Speaker 3: Now, onto the.
• 34:22
  Speaker 4: Economy, and obviously you've had a period of high inflation
• 34:25
  Speaker 4: in the US, We've had it here in Australia, has
• 34:27
  Speaker 4: been global. But recent data is showing that that inflation
• 34:31
  Speaker 4: in the US is now coming in below expectation, and
• 34:33
  Speaker 4: even the left landing CNN had to admit it.
• 34:36
  Speaker 17: There is new data that just later from the Later
• 34:39
  Speaker 17: Department showing inflation year every year actually slow to the
• 34:43
  Speaker 17: lowest annual inflation rate since February of twenty twenty one.
• 34:47
  Speaker 4: But here, what's the cause of this and what does
• 34:49
  Speaker 4: this tell us about the current US economy.
• 34:53
  Speaker 16: It's so amazing because every economists predicted we were going
• 34:55
  Speaker 16: to go into a recession, and every economists predicted that
• 34:58
  Speaker 16: the tariffs were going to be in fleetion, and of
• 35:00
  Speaker 16: course this was all nonsense. They've been just as wrong
• 35:03
  Speaker 16: about this as they were about NAFTA, and as they
• 35:05
  Speaker 16: wore about mass immigration, which they always tell us raises
• 35:08
  Speaker 16: the GDP.
• 35:09
  Speaker 3: They're wrong about.
• 35:09
  Speaker 16: Everything when it comes to the daily lives of average Americans.
• 35:13
  Speaker 16: And Trump has been right again and again and again
• 35:16
  Speaker 16: and again. And it is so amazing to see that
• 35:19
  Speaker 16: the economy is just so nimble as to absorb the
• 35:24
  Speaker 16: very important shock of the tariffs. A ten percent tariff
• 35:28
  Speaker 16: is now the new normal for the United States. Donald
• 35:31
  Speaker 16: Trump is raising billions of dollars in revenue to pay
• 35:34
  Speaker 16: off our debt, which is extraordinary news and long overdue.
• 35:39
  Speaker 16: And inflation has gone down, so everything they predicted what
• 35:43
  Speaker 16: happen out of hatred of Donald Trump simply did not appear.
• 35:47
  Speaker 16: And yet they cannot give him an ounce of credit
• 35:49
  Speaker 16: for this. All they do is move on to the
• 35:50
  Speaker 16: next thing that they try to turn into a scandal.
• 35:53
  Speaker 16: The untold story here is the way that American business
• 35:58
  Speaker 16: is actually absorbing some of the costs of inflation out
• 36:01
  Speaker 16: of a newfound patriotism that I believe is very much
• 36:05
  Speaker 16: generated out of their respect for Donald Trump and for
• 36:07
  Speaker 16: the economy that he's trying to build. So you see
• 36:10
  Speaker 16: people like GM promising that any cost student due to
• 36:14
  Speaker 16: the tariffs, they will take out of their corporate profits
• 36:17
  Speaker 16: rather than passing on to the consumer. There are other
• 36:19
  Speaker 16: companies that are doing that, and boy are those companies
• 36:21
  Speaker 16: going to be rewarded by the American consumer.
• 36:25
  Speaker 6: Yeah.
• 36:26
  Speaker 4: Absolutely, And those pesky egg prices, look at them come
• 36:29
  Speaker 4: down despite what everyone had to say about them. Now,
• 36:32
  Speaker 4: moving on to immigration and that there does continue to
• 36:34
  Speaker 4: be a hot button issue in the US, including in
• 36:37
  Speaker 4: relation to foreign gang members, so much so that Trump's
• 36:40
  Speaker 4: announced a first ever self deportation program.
• 36:43
  Speaker 15: I assigned an executive order to launch the first ever
• 36:46
  Speaker 15: self deportation program for illegal aliens. We are making it
• 36:51
  Speaker 15: as easy as possible for illegal aliens to leave America.
• 36:56
  Speaker 15: Any illegal alien can simply show up at an airport
• 36:59
  Speaker 15: and receive a free flight out of our country.
• 37:03
  Speaker 3: But here that sounds almost quite sensible. What's the feeling
• 37:06
  Speaker 3: over there?
• 37:07
  Speaker 4: And it's been interesting some of the rubs, some of
• 37:11
  Speaker 4: the friction in relation to Americans defending legal immigrants and
• 37:15
  Speaker 4: criminals from deportation.
• 37:19
  Speaker 16: This is not my favorite thing, only because I feel
• 37:21
  Speaker 16: like it's a little bit rewarding bad behavior. If it works,
• 37:24
  Speaker 16: I will totally support it, but honestly, I'm not sure
• 37:27
  Speaker 16: people are going to self deport. I think they are
• 37:29
  Speaker 16: going to have to do a little bit more work
• 37:31
  Speaker 16: going and getting these people. We know where a lot
• 37:33
  Speaker 16: of them are living, because they're living in hotels that
• 37:35
  Speaker 16: are being paid for by taxpayers.
• 37:38
  Speaker 8: You know.
• 37:38
  Speaker 16: I think if they cut them from a lot of
• 37:40
  Speaker 16: the benefits roles, a lot of people would then consider
• 37:43
  Speaker 16: self deporting at that point. But that's going to take Congress,
• 37:47
  Speaker 16: and you know, Congress right now is mired in this
• 37:49
  Speaker 16: reconciliation bill, so we'll see what happens with that.
• 37:53
  Speaker 10: Now.
• 37:54
  Speaker 4: As a corollary tool that varies objection within the US too,
• 38:00
  Speaker 4: the US offering asylumn to why South Africans, where does
• 38:04
  Speaker 4: why and where does that come from?
• 38:07
  Speaker 16: I have to say this was not my favorite thing.
• 38:09
  Speaker 16: You know, of all the people who are desperately in
• 38:11
  Speaker 16: need of asylum, they wouldn't have been at the top
• 38:14
  Speaker 16: of my you know, to me, this seems a little
• 38:17
  Speaker 16: bit like reverse identity politics in a way. There's somebody
• 38:21
  Speaker 16: in the administration, perhaps Elon Musk, for whom this was
• 38:23
  Speaker 16: an important issue. Me of course, is from South Africa,
• 38:26
  Speaker 16: but it did seem to me in a way to
• 38:29
  Speaker 16: be a bit of a troll of the left. And
• 38:32
  Speaker 16: I don't know why we're bringing in more people when
• 38:34
  Speaker 16: the whole point is, you know, we're trying to depoort
• 38:37
  Speaker 16: people who are here illegally. But you know, this is
• 38:40
  Speaker 16: something that I think obviously was important to somebody and
• 38:43
  Speaker 16: they got what they.
• 38:44
  Speaker 8: Were looking for.
• 38:46
  Speaker 4: An immigration I suppose it's still causing some problems for
• 38:50
  Speaker 4: the Democrats and including the California Governor Garin Gavin Newsom
• 38:55
  Speaker 4: flip flopping on a policy in relation to illegal immigrants
• 39:00
  Speaker 4: receiving taxpayer funded health You know, you think the answer
• 39:04
  Speaker 4: here would be pretty common sense, but like you said,
• 39:07
  Speaker 4: taxpayers paying for them to stay in hotels. But this
• 39:10
  Speaker 4: is still a complicated issue for the Democrats, isont it
• 39:13
  Speaker 4: even though they're not in government.
• 39:16
  Speaker 16: The fact that Gavin Newsom is out there saying he's
• 39:19
  Speaker 16: ready to take the fall and be the first to
• 39:21
  Speaker 16: flip flop, He's going to be the first of many.
• 39:23
  Speaker 16: The Democrats have no future if they can't get behind
• 39:27
  Speaker 16: where the American people are at on immigration, and so
• 39:30
  Speaker 16: seeing somebody like Gavin Newsom who's sort of on the
• 39:32
  Speaker 16: fence about whether he's going to run in twenty twenty
• 39:34
  Speaker 16: eight or not, somebody who's positioned very well to make
• 39:39
  Speaker 16: these big pronouncements because you know, he may not run.
• 39:42
  Speaker 3: He may he may not.
• 39:43
  Speaker 16: This is a sign that the wind is changing and
• 39:46
  Speaker 16: that people are getting the message in the Democratic Party
• 39:48
  Speaker 16: that they have to really do a bit of a
• 39:51
  Speaker 16: one to eighty on immigration if they ever want to
• 39:52
  Speaker 16: be competitive again.
• 39:55
  Speaker 3: I think that's an excellent observation.
• 39:57
  Speaker 4: And lastly, while President Donald Trump is trying to strike
• 40:01
  Speaker 4: trade deals and bring peace to the Middle East, alone,
• 40:04
  Speaker 4: House Democrat for.
• 40:05
  Speaker 3: Michigan's trying to impeach the president.
• 40:08
  Speaker 4: Now sure Thanada recently moved to force a chamber wide
• 40:11
  Speaker 4: vote on his impeachment resolution against President Donald Trump.
• 40:16
  Speaker 3: He ended up backing down bire but what's the point
• 40:20
  Speaker 3: of this.
• 40:20
  Speaker 16: Honestly, this man is a joke and an embarrassment to
• 40:24
  Speaker 16: his party, and I think even a lot of Democrats
• 40:26
  Speaker 16: realized that, and so they shut it down very quickly.
• 40:30
  Speaker 16: I think they realized that they need to get their
• 40:33
  Speaker 16: act together, and I was glad to see them not
• 40:35
  Speaker 16: have any tolerance for this.
• 40:38
  Speaker 3: Yeah, excellent, Thank you, Thank you so much for your observations.
• 40:42
  Speaker 3: Batir Unga Sagon. Thank you for joining the show, Thank
• 40:45
  Speaker 3: you for having me, Thank you so much.
• 40:47
  Speaker 4: Still to come, and Prince Harry has been called door
• 40:49
  Speaker 4: knocking on random doors while looking for a mate.
• 40:52
  Speaker 3: The Louise Roberts joins me next to discuss that and
• 40:55
  Speaker 3: much much more.
• 41:05
  Speaker 4: Welcome back to the show and joining me now is
• 41:07
  Speaker 4: Skynews contributor Louise Roberts.
• 41:10
  Speaker 3: Louise for all the carry on about Prince Harry.
• 41:13
  Speaker 4: Needing security when he visits the UK, Well you think
• 41:16
  Speaker 4: you'd be a bit more discerning about knocking on random
• 41:20
  Speaker 4: doors in London?
• 41:21
  Speaker 3: What's the story here?
• 41:22
  Speaker 18: Absolutely Well, this amazing picture of Harry has come out
• 41:27
  Speaker 18: of London where he's buzzy on someone's door. It's been
• 41:29
  Speaker 18: captured on a ring cam, which occurs only every London
• 41:32
  Speaker 18: home has now due to security fears. He was wandering
• 41:35
  Speaker 18: the streets of Fulham in West London looking for a friend.
• 41:38
  Speaker 18: He knocked on about three doors until he found the house,
• 41:41
  Speaker 18: but discovered that, of course, the people he knew don't
• 41:44
  Speaker 18: live there anymore. Apparently a Spanish family is now renting
• 41:46
  Speaker 18: the property. But as you say, Caro, kind of it
• 41:50
  Speaker 18: makes a mockery of his claim of wanting to make
• 41:52
  Speaker 18: taxpayers to pay for his security because it's too dangerous
• 41:55
  Speaker 18: for him to wander the streets or his family to
• 41:58
  Speaker 18: actually visit as well, so the fact that he's quite
• 42:01
  Speaker 18: happily walking around Fulham looking for a mate on his
• 42:04
  Speaker 18: mobile phone and he looks like some sort of Chelsea
• 42:06
  Speaker 18: Tops sort of trying to get recruits to go to
• 42:08
  Speaker 18: the pub with.
• 42:09
  Speaker 8: Him and have a few bevies in the afternoon.
• 42:11
  Speaker 18: It was utterly bizarre, and there was no evidence of
• 42:14
  Speaker 18: any security around him. And he's constantly claiming that he's
• 42:18
  Speaker 18: an assassination target. But someone who's legitimately fearful for their
• 42:23
  Speaker 18: safety on the streets doesn't do what he's been doing
• 42:25
  Speaker 18: in Fulham.
• 42:28
  Speaker 4: Well absolutely, I mean, look, there's just such a big
• 42:30
  Speaker 4: difference between the words and the deeds there that it
• 42:34
  Speaker 4: makes you really question the credibility of what he has
• 42:37
  Speaker 4: to say. Now we're constantly being bombarded with the new
• 42:41
  Speaker 4: Fresh lifestyle Megan, but a stunning piece in the UK
• 42:44
  Speaker 4: Telegraph this week.
• 42:45
  Speaker 3: About how she doesn't have time to cook. But this
• 42:48
  Speaker 3: is not very on brand. He's the Luise.
• 42:50
  Speaker 8: No, it's not very on brand.
• 42:52
  Speaker 18: But maybe it's another example of optics over authenticity. For Megan,
• 42:56
  Speaker 18: so what she's this is her podcast, The Confessions of
• 42:59
  Speaker 18: a Female Founder, And in this she's revealed that probably
• 43:03
  Speaker 18: like the rest of us, she does actually get takeaway
• 43:05
  Speaker 18: food every now and then. But what Meghan does is
• 43:07
  Speaker 18: sort of elevated by adding vegetables from her own garden,
• 43:10
  Speaker 18: clearly organic, and sort of jazzes up this food so
• 43:13
  Speaker 18: it doesn't look like something which just comes straight from
• 43:16
  Speaker 18: Uber Eats like the rest of us. So I guess
• 43:18
  Speaker 18: you could argue that she's being more realistic in this
• 43:21
  Speaker 18: way by you know, saying she does get the occasional
• 43:24
  Speaker 18: takeaway dish, but you know, at the same time, her
• 43:28
  Speaker 18: mission is to be this lifestyle guru, to be this
• 43:31
  Speaker 18: expert on creating food from scratch. And I really don't
• 43:34
  Speaker 18: think that you'd see Martha Stewart claiming to add a
• 43:36
  Speaker 18: few bits of chop chives or flowers or whatever it
• 43:40
  Speaker 18: is on top of her takeaway food. So it's a
• 43:42
  Speaker 18: bit of an own goal I think here.
• 43:43
  Speaker 4: For Megan, I think so, and I think you know,
• 43:47
  Speaker 4: most of us when we're ordering takeaways because we're under
• 43:50
  Speaker 4: time pressure. When I order takeaway, I never think about elevating.
• 43:53
  Speaker 4: It is literally the furthest thing from my mind if
• 43:57
  Speaker 4: I am going to eat takeaway anyway. Onto the other
• 44:00
  Speaker 4: British royal family, the Beckhams. Well, rumors of that family feud,
• 44:05
  Speaker 4: they don't appear to be dissipating.
• 44:07
  Speaker 8: What's the latest, So yes, this feud.
• 44:11
  Speaker 18: Look, the nucleus is meant to be a budding of
• 44:14
  Speaker 18: heads between Brooklyn Beckham's mother Victoria and his wife Nicola Peltz,
• 44:18
  Speaker 18: of course, and they're both very strong world and it's
• 44:21
  Speaker 18: a very emotional situation which culminated in Brooklyn and his
• 44:24
  Speaker 18: wife abandoning all of David Beckham's fiftieth birthday celebrations, which
• 44:30
  Speaker 18: is really very sad because this is a family which
• 44:33
  Speaker 18: their brand is a.
• 44:34
  Speaker 8: Very tight unit and I also think is legitimate as well.
• 44:37
  Speaker 18: I mean, the kids and the mum and dad are
• 44:39
  Speaker 18: always being photographed together and doing lots of events together.
• 44:42
  Speaker 8: And there's a real authenticity there.
• 44:44
  Speaker 18: But Brooklyn has done an interview in which he talks
• 44:48
  Speaker 18: and it's a bit sad really. He talks about his
• 44:51
  Speaker 18: passion for cars and he says that's one of the
• 44:53
  Speaker 18: things that he bonded with his father David over so
• 44:56
  Speaker 18: the love of motor vehicles and.
• 44:57
  Speaker 8: Things like that.
• 44:58
  Speaker 18: But look, this feud, I can't see it ending anytime soon.
• 45:03
  Speaker 18: On that note, I we'll add that I did see
• 45:05
  Speaker 18: a story this week as well about how Harry and
• 45:07
  Speaker 18: Meghan apparently are counseling Brooklyn and his wife in California
• 45:12
  Speaker 18: because they clearly been through a similar thing. But I think,
• 45:17
  Speaker 18: you know, children need to respect their parents and perhaps
• 45:20
  Speaker 18: make the first overture and making things up. And I
• 45:22
  Speaker 18: think the ball is very much in Brooklyn's court.
• 45:25
  Speaker 4: Here and not necessarily the people I'd be going to
• 45:30
  Speaker 4: with how to deal with a family feud situation onto
• 45:35
  Speaker 4: something a little just quietly, onto something a little more serious. Though,
• 45:39
  Speaker 4: And the trial of rapper Sean Diddycombs that has started
• 45:43
  Speaker 4: it has revealed some horrific details of alleged abuse. Now,
• 45:48
  Speaker 4: this situation, I have a feeling is going to go
• 45:51
  Speaker 4: from bad from bad to worse. But what has recently
• 45:55
  Speaker 4: been revealed in the testimony, So.
• 45:58
  Speaker 18: Cassie Ventura is his ex girlfriend who is in the
• 46:01
  Speaker 18: witness stand at the moment. She's the star witness obviously
• 46:04
  Speaker 18: for the prosecution. Over did his sex trafficking trial in
• 46:08
  Speaker 18: the Manhattan Court She's eight months pregnant with her third
• 46:11
  Speaker 18: child to her husband, so it's obviously a very stressful
• 46:14
  Speaker 18: and emotional time for her. And I have to say
• 46:16
  Speaker 18: some of the evidence that's come out should carry a
• 46:19
  Speaker 18: warning because it is absolutely vile and just unimaginable. Well,
• 46:22
  Speaker 18: I think she allegedly went through and what she said
• 46:25
  Speaker 18: most recently is that she alleges that did he stomped
• 46:28
  Speaker 18: on her head and punched her and would fly into
• 46:32
  Speaker 18: these sort of terrible rages if she made the wrong
• 46:35
  Speaker 18: face or sort of looked the wrong way. So the
• 46:38
  Speaker 18: micromanaging of her behavior was such an extent. She says
• 46:42
  Speaker 18: that he would lash out if something wasn't to his liking.
• 46:46
  Speaker 18: So it's a very very upsetting court case, I think,
• 46:50
  Speaker 18: and obviously very triggering. I think for a lot of
• 46:51
  Speaker 18: people to listen to this type of evidence and the
• 46:55
  Speaker 18: allegations that Cassie's putting forward.
• 46:58
  Speaker 4: Absolutely and after the whole Harvey Weinstein saga, I feel
• 47:02
  Speaker 4: like a lot of people perhaps feeling like we're going
• 47:04
  Speaker 4: back around the same mountain again onto the Can's Film Festival,
• 47:09
  Speaker 4: and it's recently changed his dress guidelines to ban nudity.
• 47:14
  Speaker 3: So what's the background to that and has anyone come
• 47:16
  Speaker 3: a cropper yet?
• 47:18
  Speaker 18: Well, yes, there'll be plenty of stars I think will
• 47:20
  Speaker 18: come a cropper over the next few days if they
• 47:22
  Speaker 18: don't listen to these rules. So the dress code it
• 47:25
  Speaker 18: can has been very much tightened. So they're saying no
• 47:28
  Speaker 18: full nuditive. I think what they mean is any kind
• 47:31
  Speaker 18: of nudity at all. And also any of those you know,
• 47:33
  Speaker 18: these massive trains that actresses and you know Z List
• 47:37
  Speaker 18: Wanna bees, I guess sort of, you know, they sort
• 47:40
  Speaker 18: of trail up the red carpet and it causes such
• 47:42
  Speaker 18: a chaos because the dress has got to be puffed
• 47:44
  Speaker 18: up for the photographs and then has to be basically
• 47:47
  Speaker 18: packed away, and so it causes a huge log jam
• 47:49
  Speaker 18: in the sort of blistering French or you know, south
• 47:53
  Speaker 18: of Front sunshine. So he is a problem for the
• 47:55
  Speaker 18: celebrities whose makeup's probably dripping from their faces at this point.
• 47:59
  Speaker 18: But it's also an when you're in the aisles inside
• 48:01
  Speaker 18: the actual theater because nobody can move because the dresses
• 48:04
  Speaker 18: are blocking everyone's access access point as well. So Pallie
• 48:09
  Speaker 18: Barry has come a cropper because she had a dress
• 48:12
  Speaker 18: in mind which had one of these massive trains on it,
• 48:14
  Speaker 18: and she said, well, I had to pick something else.
• 48:16
  Speaker 18: So she was photographed yesterday in quite a nice demure.
• 48:19
  Speaker 18: I was pleased to see said black and white striped
• 48:22
  Speaker 18: whole to neck number, which was a bit of a
• 48:25
  Speaker 18: contrast to what she wought the Matt Gala and New
• 48:28
  Speaker 18: York recently, which I thought looked like she was wearing
• 48:30
  Speaker 18: gaffer tape. I thought it was absolutely horrific. And she's
• 48:32
  Speaker 18: a very attractive woman and the idout feel needs to
• 48:36
  Speaker 18: sort of dress like something out of Share in the
• 48:38
  Speaker 18: nineteen eighties. But she's obviously taken the memo she will
• 48:42
  Speaker 18: stick to the rule because she's on the jury, of course.
• 48:47
  Speaker 4: Yeah, and fair enough, and you would absolutely expect that
• 48:52
  Speaker 4: and look and to be honest, I actually have no
• 48:54
  Speaker 4: issue with these sorts of rules being in place. I mean,
• 48:57
  Speaker 4: when we watch from the television, you obviously don't see
• 49:00
  Speaker 4: that sort of chaos there on the ground with all
• 49:03
  Speaker 4: this fabric everywhere, But you can understand they're on a
• 49:06
  Speaker 4: schedule and they've got to get on with it.
• 49:08
  Speaker 3: Absolutely. Louise Roberts, thank you so much for your time.
• 49:11
  Speaker 3: Good to see that's it from me. Up next is Newsnight,
• 49:15
  Speaker 3: good Night,