Stephen Koukoulas

And I watched that, linked that to the bond market, linked that to the stock market futures in the US.

And every time oil goes up, the US futures go down, and we have implications here in Australia.

So you're quite right about that international scene.

What's happening in the Middle East?

What does Donald Trump do about it?

And the other thing that was sort of just slipped through to the keeper because of the focus on oil is the US economy is actually travelling in a –

sort of got some similar, not the same, but similar issues here.

They've got higher inflation coming through.

Their petrol or gasoline prices are higher.

And their budget position is still pretty rotten.

So that's something that will come back to bite it, I'm pretty sure, at some stage, even if we get some sort of resolution to this oil shock.

Well, the ABS Bureau of Statistics do a survey of what the average household spends their money on and the proportion of money that they spend on things.

So, for example, tobacco is in the basket.

And even though only 10%, 12% of the population smoke, so 88% say, I don't smoke, so why is tobacco in there?

Well, it's part of the cost of living.

Same with renting.

I don't rent, but rent's a part of the cost of living.

Or I don't eat meat, but meat is in the basket.

Yeah.

I find it absolutely fascinating.