Chapter 1: What is the main topic discussed in this episode?
Power. Sharp on insight. The Mike Hosking Breakfast. With Aveda Retirement Communities. Life your way. News Talk ZB.
Morning and welcome today. Cash rate day. Welcome to it.
Chapter 2: What insights does Kelly Eckhold provide about the OCR announcement?
The privacy report into the manage my health hack. Stephen Joyce on the budget. Three and a half million dollars they spent telling us how to save petrol, if you can believe it. Mark and Ginny after eight. Richard and Steve are our offshore geniuses.
Chapter 3: How much funding was allocated for the fuel-saving campaign?
Hosking. Seven past six, here we go. Another of those consequential days in which all our lives are in one way or another connected via the mad web of global events that will be travailed yet again by our central bank. A central bank like all central banks that have the unenviable task of working out when the strait opens, when the ships arrive, what the price of fertilizer will fall to.
Chapter 4: What are the implications of Labour leaks on MP housing entitlements?
whether the spring rains come and what the price of a leg of lamb will turn out to be sold for. Oh, and the cost of fuel and somewhere in there, whether our mood improves. No pressure then, eh? The consensus, if there is one, and that is what makes today so interesting, is we are not moving the cash rate. But that... is only half the story. The real story is when do we move the cash rate?
Because that is sure as night follows day is what eventually we will have to do. This is the famed look through the price hike piece of the puzzle. Yes, prices are rising. Yes, that's inflationary. But how much is temporary? How much is permanent? How much is simply a default position of the if you can, you will mentality as practiced by the banks and the councils and the power companies?
Is it possible? Small start up at 10. Is it possible it might not be as bad as they thought? You see, readings this past week from Japan, Britain and Singapore all showed inflation in at less than they thought. Could we be the same? The balancing act, and in that is the real danger, are the growth inflation trade-off. Inflation this time is not growth related.
So in killing inflation with a rate rise, are you killing off not growth, but the future hope of growth? That would be a disaster. But in waiting... If inflation is off to the races and the RB get there too late, do they smother the green shoots of a post-Iran celebration? Oh, the drama. So today is not about rate rises. It's the observation. It's the commentary. It's the vibe.
Worst thing they could do today is hike. Second worst thing they could do today is tell us they don't have a clue.
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Chapter 5: What are the potential impacts of inflation on New Zealand's economy?
And yet it's that second thing that may well come to pass, leaving uncertainty and no great decision was ever made against the backdrop of bewilderment and uncertainty.
Did I say no pressure there?
Now the war, bit of slap and tickle going on as the US tosses out a few warning shots, Iran fires back some tough talk anyway, seems a bit bogged down. It's going to take a couple of days to settle on even down to the disagreements over a word, a sentence. So we'll have to work through that. If there's going to be a deal, we're going to have to work through that.
But this is, you know, it's either going to be a good deal or there isn't going to be one. Old Ben of Israel, he's losing patience. He's eyeing up all that carnage he can cause in Lebanon. I want to bless the residents of the north's resilience that inspires all of us. But what this requires of us now is to increase the blows, to increase the intensity. We will smite them with overwhelming force.
Meantime, Trump has gone back for another health check as third, which raises a lot of questions given his age. They haven't told us a lot, frankly, and there's been things that they've told us that have been so hyperbolic. I mean, the first time I interviewed his doctor back in 2016, he said something to the effect of, who knows, President Trump could live to 200 years old.
I don't think that's true. In Britain, that rape case we told you about the other day where the boys found guilty, avoided jail, in doing so outraged an entire nation. Well, that's off to the appeals court. There are questions about the sentence. The Attorney-General has power to refer a case to the Court of Appeal if the Attorney-General thinks that the sentence is too lenient.
The Attorney-General has now exercised that power. Also occupying Sakhir today were the parents who called by to tell him to ban those under-16s from the social media.
He said they would definitely be doing something, but we've heard that before. But we'll see. As I say, I think we've walked away knowing we've literally just laid it all out on the table.
One of the things that almost certainly happened in that meeting is someone, I bet you, would have said, well, how about whoever then?
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Chapter 6: How does the current budget affect public services in New Zealand?
No move, of course. It's all about those forecasts and, yeah, when, I suppose, we get that high, what happens with the war, who knows. And then, yeah, look ahead to the budget. I think that'll be, obviously, a pretty sort of tight one, a bit of a repair one. But wouldn't it be good if they saw an increase to default KiwiSaver contributions? All right. We'll see. Take a long-term view.
We'll stand by. Greg, nice to see you from Generate, of course, wealth and KiwiSaver specialists. Hosking. Those Oreos are $2 a packet. I looked them up this morning. I don't eat them, of course, because they're crap. But at $2 a packet, if you'd asked me how much is a packet of Oreos, how much is a packet... Scotch fingers are $2.
If you'd asked me how much is a packet of Scotch fingers or Oreos, I would have said $4.50. They're $2. No wonder people are fat. It's 6.21 here at Newstalk ZB. The Mike Hosking Breakfast full show podcast on iHeartRadio, powered by Newstalk ZB. Mike, the figures you're quoting for Orioles show you're clearly not a regular at Reduce to Clear. No, that's correct. I'm not.
But I thought $2 was a bargain. Speaking of food, what's with the pies? I mean, for God's sake, actually, what's with politicians generally? So the Labour Party in the media training, what idiot invented that? That's stupid. I raised it with Luxon. Luxon flies from Auckland to Queenstown along with Seymour, along with Hoggart, who's in that part of the country anyway.
They fly from Auckland to Queenstown, stand on a hill... Start up a chainsaw, talk about wilding pines, fly back to Auckland. What's that about? What a waste of time and energy. Then you had the pie nonsense yesterday. No one eats pies well in front of a camera. You know that. Don't sit down eating pies.
Then you're watching Nicola, who clearly doesn't want to be there eating a pie, with crumbs all over her lipstick. Shane's already finished his, and she's barely had a bite. I mean, come on, the optics. For God's sake, how hard can it be? 6.25.
Trending now with Chemist Warehouse.
May mayhem sail on now. Who ate all the pies, Shane? Anyway, Pixar, they got high hopes for the latest animated cab off the rink. Super Mario's hit a billion. Hopper's half a billion. So now it's the turn of Toy Story 5.
First we were playing, and then the world started changing. Are we getting donated? Donuts.
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Chapter 7: What are the challenges facing the New Zealand aquaculture industry?
You're away from home a lot of the time. You're doing an untold amount of travel. The hours are ruinous. The pressure is extraordinary and has only got worse. And they're grossly underpaid at the best of times. And the least we can do is support them in a bit of accommodation and travel. What a petty, pathetic little headline. And in that is everything that's wrong with the media in this country.
Not enough positivity, too much misery. Ten away from eight.
The Mike Hosking Breakfast with Aveda Retirement Communities. Newstalks at B. Now, there's seven away from eight.
We've got to change the copyright protection for local music. Protection's being extended to 70 years from 50. Basically, artists get royalties for longer. Brett Eccles is the Eccles Entertainment founder, of course, and he's with us. Brett, good morning. Good morning, how are you? Very well. I saw you on the television the other night. It was you and Christchurch for that big show.
Did that go off? I mean, it did go off, of course. It was. It was a very special event.
It had an X factor that you couldn't put your finger on. It was really something.
And as a facility from a person like yours' point of view, good?
There's some work to be done on that, but from a punter perspective, it's fantastic. Every seat's a good seat. The place went off. But generally speaking, it's a great venue, a real asset to us, to Christchurch and New Zealand.
Good, good. So the copyright thing, this is the international norm, isn't it? 70, I think?
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