Today on Fear and Greed. Bitcoin pushes beyond one hundred thousand US dollars a unit for the first time. Freederal Treasurer Jim Chalmers says there will be no big spending initiatives in the upcoming budget review, and Sydney falls down the ranks of best places to live. Plus, the boss of West Farmers warned on industrial disputes, and Rio Tinto is under pressure to change its structure. Welcome to Fear and Greed. Daily business news for people who make their own decisions. It is Friday, the sixth of December twenty twenty four. I'm Michael Thompson and good morning, Sean Aylmer.

Today on Fear and Greed. Bitcoin pushes beyond one hundred thousand US dollars a unit for the first time. Freederal Treasurer Jim Chalmers says there will be no big spending initiatives in the upcoming budget review, and Sydney falls down the ranks of best places to live. Plus, the boss of West Farmers warned on industrial disputes, and Rio Tinto is under pressure to change its structure. Welcome to Fear and Greed. Daily business news for people who make their own decisions. It is Friday, the sixth of December twenty twenty four. I'm Michael Thompson and good morning, Sean Aylmer.

Good morning, Michael, Sean.

Good morning, Michael, Sean.

The main story this morning bitcoin has pushed beyond one hundred thousand US dollars in you.

The main story this morning bitcoin has pushed beyond one hundred thousand US dollars in you.

Let's have a party, Michael, Let's have a party.

Let's have a party, Michael, Let's have a party.

It's one of those things, isn't it. We were talking about it just earlier in the week, going oh yeah, reckon, it might get there, and then bang, it was there.

It's one of those things, isn't it. We were talking about it just earlier in the week, going oh yeah, reckon, it might get there, and then bang, it was there.

It got there.

It got there.

And it's not just just Bitcoin. We've got other cryptos hitting cords. We've got Ethereum and binance and Solana and dogecoin, all hitting new records as well. It is really quite something.

And it's not just just Bitcoin. We've got other cryptos hitting cords. We've got Ethereum and binance and Solana and dogecoin, all hitting new records as well. It is really quite something.

It's been an amazing thirty six hours. It all came after President elect Donald Trump nominated a crypto enthusiast, a guy called Paul Atkins, to be the next chair of the Securities Exchange Commission. Little context here. The Securities Exchange Commission. The SEC regulates financial markets in the US. The current SEC management and the Biden administration well not big fans of cryptocurrencies, and they've threatened stronger regulation. The fact that the person coming in to take over running the regulator lives cryptos, well that's good for those currencies. Mister Atkins really doesn't have many of the concerns that the guys in the business do. Now. Few asset classes have boomed quite as much as cryptos since Donald Trump won the US presidential election a month ago. Crypto trading volumes last month novemberhead an all time high of more than ten trillion US dollars on exchanges, and that's way more than ever before. Bit Coin's up nearly forty percent since Donald Trump was elected. At ethereums up forty percent, finances twenty two percent, solanas twenty five percent. However, Kadano, which is a blockchain platform and cryptocurrency created by the same guy who founded Ethereum. His name is Charles Hoskinson. Kadano is up two hundred and twenty seven percent since the election. Dogecoin a favored of Elon Musk, It's up one hundred and seventy seven percent.

It's been an amazing thirty six hours. It all came after President elect Donald Trump nominated a crypto enthusiast, a guy called Paul Atkins, to be the next chair of the Securities Exchange Commission. Little context here. The Securities Exchange Commission. The SEC regulates financial markets in the US. The current SEC management and the Biden administration well not big fans of cryptocurrencies, and they've threatened stronger regulation. The fact that the person coming in to take over running the regulator lives cryptos, well that's good for those currencies. Mister Atkins really doesn't have many of the concerns that the guys in the business do. Now. Few asset classes have boomed quite as much as cryptos since Donald Trump won the US presidential election a month ago. Crypto trading volumes last month novemberhead an all time high of more than ten trillion US dollars on exchanges, and that's way more than ever before. Bit Coin's up nearly forty percent since Donald Trump was elected. At ethereums up forty percent, finances twenty two percent, solanas twenty five percent. However, Kadano, which is a blockchain platform and cryptocurrency created by the same guy who founded Ethereum. His name is Charles Hoskinson. Kadano is up two hundred and twenty seven percent since the election. Dogecoin a favored of Elon Musk, It's up one hundred and seventy seven percent.

Wow, Sean. The thing is, though, with crypto, we talk so much about bitcoin, right, but there are so many other units and tokens. There are so many cryptos, and the big question then is when, where there are so many different ones, can they all succeed?

Wow, Sean. The thing is, though, with crypto, we talk so much about bitcoin, right, but there are so many other units and tokens. There are so many cryptos, and the big question then is when, where there are so many different ones, can they all succeed?

Great question, no busy answer, but.

Great question, no busy answer, but.

That was unusually brief for you. Usually it would then take about five and a half minutes to answer that.

That was unusually brief for you. Usually it would then take about five and a half minutes to answer that.

So blockchain like Ethereum has made it easier for developers to create a new digital token, and they're often developed to facilitate transactions in a certain ecosystem, not broadly like big COVID, in a more like a certain ecosystem competition imitation. They've all played a role as well, developers introduced new cryptos that mimic or compete with others. A bit of a distinction here is cryptocurrencies serve a bunch of purposes, like a medium of exchange. You can buy stuff with them, store value. That's cryptocurrencies. Cryptotokens often serve specific roles within their own ecosystems, so they're not as broad depending on who you ask. There are about ten thousand cryptocurrencies out there, probably more, though a bunch of those are inactive. The estimates they suggest it up to eight thousand are active now. Crypto have no legislated or intrinsic value. They are only worth what they're worth. Bitcoin's only worth one hundred thousand US dollars a unit because that's what people are willing to pay for them. So on that basis, you would have to believe that the vast, vast majority of cryptos at some point will be worth less or worth very little. Doesn't necessarily mean bitcoin, but the point is there are so many cryptos and they can't all succeed.

So blockchain like Ethereum has made it easier for developers to create a new digital token, and they're often developed to facilitate transactions in a certain ecosystem, not broadly like big COVID, in a more like a certain ecosystem competition imitation. They've all played a role as well, developers introduced new cryptos that mimic or compete with others. A bit of a distinction here is cryptocurrencies serve a bunch of purposes, like a medium of exchange. You can buy stuff with them, store value. That's cryptocurrencies. Cryptotokens often serve specific roles within their own ecosystems, so they're not as broad depending on who you ask. There are about ten thousand cryptocurrencies out there, probably more, though a bunch of those are inactive. The estimates they suggest it up to eight thousand are active now. Crypto have no legislated or intrinsic value. They are only worth what they're worth. Bitcoin's only worth one hundred thousand US dollars a unit because that's what people are willing to pay for them. So on that basis, you would have to believe that the vast, vast majority of cryptos at some point will be worth less or worth very little. Doesn't necessarily mean bitcoin, but the point is there are so many cryptos and they can't all succeed.

You didn't let me down there. Yeah, after you have the five minutes, after a short intro, just the no, you then proceeded to explain. It's like it's like a maths exam where it was like show you're working.

You didn't let me down there. Yeah, after you have the five minutes, after a short intro, just the no, you then proceeded to explain. It's like it's like a maths exam where it was like show you're working.

That's that's it, show my working.

That's that's it, show my working.

Yeah, you had to demonstrate why you got to that answer and you successfully demonstrated that. Sean, let's move to local markets. How did things go yesterday?

Yeah, you had to demonstrate why you got to that answer and you successfully demonstrated that. Sean, let's move to local markets. How did things go yesterday?

That's in pas X two hundred closed up just to touch to eighty four hundred and seventy five points. Basically, techtocks did well, so to consume A discretionary company these consumer discretionary is a term used on the market. It's kind of there's two types of consumer companies, the staples and the discretionary. The staples I think Cole's Woollies the ones that you sort of go to no matter what's going on. Discretionary, well, it's more your discretionary income. Jbhi Fi, Harvey Norman. That's sorts of companies. Anyway, consumer discretion did pretty well. The property companies didn't do so well. Best on the day among the large caps pro Medicus, well, what a surprise. We seem to say that every second day, don't we. Wise Tech Global did well, the software company Transurban, that's the toll company, Coal's Northern Stars, a gold company. South thirty two is a big minor. They all did pretty well. Worst was Goodman Group, which is the biggest property group, Santos and Woodside they're the oil and gas guys. BHP was down, so to James Hardy's International Markets.

That's in pas X two hundred closed up just to touch to eighty four hundred and seventy five points. Basically, techtocks did well, so to consume A discretionary company these consumer discretionary is a term used on the market. It's kind of there's two types of consumer companies, the staples and the discretionary. The staples I think Cole's Woollies the ones that you sort of go to no matter what's going on. Discretionary, well, it's more your discretionary income. Jbhi Fi, Harvey Norman. That's sorts of companies. Anyway, consumer discretion did pretty well. The property companies didn't do so well. Best on the day among the large caps pro Medicus, well, what a surprise. We seem to say that every second day, don't we. Wise Tech Global did well, the software company Transurban, that's the toll company, Coal's Northern Stars, a gold company. South thirty two is a big minor. They all did pretty well. Worst was Goodman Group, which is the biggest property group, Santos and Woodside they're the oil and gas guys. BHP was down, so to James Hardy's International Markets.

I'm sure there's plenty going on, John.

I'm sure there's plenty going on, John.

Another day, another record high for Wall Street. Michael, what a surprise tech stocks this time the Nasdaq which is one hundred or the nose one hundred is the one hundred mostly tech stocks on Wall Street. That is an index of those companies. It rallied one point three percent. The S and P five hundred, which is the top five hundred companies on Wall Street, it jumped a little over half of percent. One stock of note is Australian based at lassi En a great success story from this country. It's listed though on the Nasdaq, not here. It jumped more than six percent after it to deal with Amazon Web services. Oil prices are a touch higher, goals around twenty six to fifty US dollars an ounce. Iron all, it's back to one hundred and six US dollars a ton. Good news there for the miners. But the Aussie dollar, the poor old Aussie dollar down to sixty four point four US cents, not helped by that rally in bitcoin.

Another day, another record high for Wall Street. Michael, what a surprise tech stocks this time the Nasdaq which is one hundred or the nose one hundred is the one hundred mostly tech stocks on Wall Street. That is an index of those companies. It rallied one point three percent. The S and P five hundred, which is the top five hundred companies on Wall Street, it jumped a little over half of percent. One stock of note is Australian based at lassi En a great success story from this country. It's listed though on the Nasdaq, not here. It jumped more than six percent after it to deal with Amazon Web services. Oil prices are a touch higher, goals around twenty six to fifty US dollars an ounce. Iron all, it's back to one hundred and six US dollars a ton. Good news there for the miners. But the Aussie dollar, the poor old Aussie dollar down to sixty four point four US cents, not helped by that rally in bitcoin.

Shawn after the show, a bit of a change of pace, talking about kind of bitcoin and global markets. We are bringing it very much back to what we do at home and what we spend, where we spend our money, what we buy in the supermarket. So you're talking to Ben Dixon, the CEO of Fonto.

Shawn after the show, a bit of a change of pace, talking about kind of bitcoin and global markets. We are bringing it very much back to what we do at home and what we spend, where we spend our money, what we buy in the supermarket. So you're talking to Ben Dixon, the CEO of Fonto.

It's a fantastic chat about people's perceptions. So we start talking about Woolies and Cole's and what's going on there with the regulatory concern over those two and what it actually means for sales. And then we talk about TEAMU. Anyone out there who has a child knows Team WU. You know, we used to have Amazon and eBay. Team is now actually bigger than eBay, not as big as Amazon in this country, but we talk about its growth, customer loyalty. We also talk about how McDonald's offers so much coffee and it's such a big player in the coffee world. Now, great chat, Yeah.

It's a fantastic chat about people's perceptions. So we start talking about Woolies and Cole's and what's going on there with the regulatory concern over those two and what it actually means for sales. And then we talk about TEAMU. Anyone out there who has a child knows Team WU. You know, we used to have Amazon and eBay. Team is now actually bigger than eBay, not as big as Amazon in this country, but we talk about its growth, customer loyalty. We also talk about how McDonald's offers so much coffee and it's such a big player in the coffee world. Now, great chat, Yeah.

Great chat about those consumer brands. That is coming up after the show stick around though. We are still talking Wes Farmers and Rio Tinto, and we're going to talk about uranium Sean and this massive espionage campaign involving China as well. Some great stories coming up. We'll be back in a moment with the rest of the day's business news. Sean Treasurer Jim Chalmers says there will be no new big spending initiatives in the budget update, which is due in coming weeks.

Great chat about those consumer brands. That is coming up after the show stick around though. We are still talking Wes Farmers and Rio Tinto, and we're going to talk about uranium Sean and this massive espionage campaign involving China as well. Some great stories coming up. We'll be back in a moment with the rest of the day's business news. Sean Treasurer Jim Chalmers says there will be no new big spending initiatives in the budget update, which is due in coming weeks.

The mid year budget update won't be a mini budget, he said, rather an update of this year's budget in May. Now, this is one of your favorite acronyms, is it my EUFO? My EFO? Yes, the mid Year Economic and Fiscal Outlook MYIFO.

The mid year budget update won't be a mini budget, he said, rather an update of this year's budget in May. Now, this is one of your favorite acronyms, is it my EUFO? My EFO? Yes, the mid Year Economic and Fiscal Outlook MYIFO.

And it's one of those things that if you work in kind of media and politics and all this stuff, just people toss around my EUFO all the time. So it's just like it's just common knowledge. It's just like no, stop, stop, just explain what it is. No one benefits from acronyms.

And it's one of those things that if you work in kind of media and politics and all this stuff, just people toss around my EUFO all the time. So it's just like it's just common knowledge. It's just like no, stop, stop, just explain what it is. No one benefits from acronyms.

Right, absolutely, So the budget comes out in May and about six months after that they basically update the budget. Often there's a bunch of spending initiatives in that. Well, Jim Chalmers says that's not going to be happening. He did say he was speaking Queensland yesterday, he did say he's always on the lookout for areas to reprioritize. I love this quate from him. We don't often quote on fear and greed, But this was a good one from the Treasure. We get a lot of free advice from our political opponents and from their sickophans and suck ups that we should have some kind of slash and burn budget with radical austerity. That is a recipe for recession. Sycophants and suck ups.

Right, absolutely, So the budget comes out in May and about six months after that they basically update the budget. Often there's a bunch of spending initiatives in that. Well, Jim Chalmers says that's not going to be happening. He did say he was speaking Queensland yesterday, he did say he's always on the lookout for areas to reprioritize. I love this quate from him. We don't often quote on fear and greed, But this was a good one from the Treasure. We get a lot of free advice from our political opponents and from their sickophans and suck ups that we should have some kind of slash and burn budget with radical austerity. That is a recipe for recession. Sycophants and suck ups.

Gad, Jim, you know, you know it's giving me Paul Keating kind of vibes.

Gad, Jim, you know, you know it's giving me Paul Keating kind of vibes.

Yeah, of course. See he's did his PhD. He's a doctor, Jim Chalmers, doctor of economics, and I think he did his study was on Paul Keating, wasn't it. Yeah.

Yeah, of course. See he's did his PhD. He's a doctor, Jim Chalmers, doctor of economics, and I think he did his study was on Paul Keating, wasn't it. Yeah.

It feels like he's studying the way that Paul Keating could generate a headline and just summarize things. And you know what, Paul Keating is someone else that we like to quote on this podcast. Just delivers some cracking.

It feels like he's studying the way that Paul Keating could generate a headline and just summarize things. And you know what, Paul Keating is someone else that we like to quote on this podcast. Just delivers some cracking.

Lines every time. Every time. Of course, Jim Chalmers is under some pressure because Wednesday's GDP figures, well, they weren't good. They show the only reason the economy expanded last quarter was government spending. The Treasure needs to pull back some government spending without pushing the economy into recession. Very very fine, line that one.

Lines every time. Every time. Of course, Jim Chalmers is under some pressure because Wednesday's GDP figures, well, they weren't good. They show the only reason the economy expanded last quarter was government spending. The Treasure needs to pull back some government spending without pushing the economy into recession. Very very fine, line that one.

Yeah, that's a tough balance now. West Farmer's chief executive Rob Scott says he is increasingly worried about the rise in industrial activity, saying that it could feed into inflation at what is the worst possible time for Australian families.

Yeah, that's a tough balance now. West Farmer's chief executive Rob Scott says he is increasingly worried about the rise in industrial activity, saying that it could feed into inflation at what is the worst possible time for Australian families.

So West Farmers is Australia's biggest conglomerate, owns Bunnings, office Works, Kmart Group. I mean it's got a big health business including Priceline pharmacies. It's also got these chemicals business and an energy in fertilizers business and an industrial and safety business. Massive company based in per one hundred and twenty thousand employees nearly half a million shareholders. Yesterday, mister Scott, when asked about the dispute between warehouse workers and woolies, said the dispute is part of a worrying trend in Australia that is starting to spread. He said, Ultimately, the consequences hit the supply chain and that feeds through to higher prices. That's not what we need in the run up to Christmas, particularly when we already have a cost of limit crisis.

So West Farmers is Australia's biggest conglomerate, owns Bunnings, office Works, Kmart Group. I mean it's got a big health business including Priceline pharmacies. It's also got these chemicals business and an energy in fertilizers business and an industrial and safety business. Massive company based in per one hundred and twenty thousand employees nearly half a million shareholders. Yesterday, mister Scott, when asked about the dispute between warehouse workers and woolies, said the dispute is part of a worrying trend in Australia that is starting to spread. He said, Ultimately, the consequences hit the supply chain and that feeds through to higher prices. That's not what we need in the run up to Christmas, particularly when we already have a cost of limit crisis.

Sean I mentioned Rio Tinto earlier and the company is under pressure to unify its dual listing structure, offering shares only in Australia. The thing is that the boss of the company is actually against the idea.

Sean I mentioned Rio Tinto earlier and the company is under pressure to unify its dual listing structure, offering shares only in Australia. The thing is that the boss of the company is actually against the idea.

Yes, so this is one of those stories where we tend to give people a lesson. So just put up with us for a moment. Like at the moment, you could buy a REO share on the ASEX or you could also buy it on London's foot seat. So the British share market BHP used to be the same. It dropped that idea about it was early twenty twenty two. When it dropped it, it suddenly became it boosted its size because you could only trade it in Australia and it made BEHP the biggest company on the boss back then. Some shareholders think Rio should do the same. About seventy seven percent of shares in Reo are actually traded in the UK, twenty three percent in Australia. Maybe the argument is it should just go to the UK not Australia argues that the duel listing reflects what the minor is, part British, part Australian. It also means it's got access to a lot more shareholders, easier the Australian shairs actually trade at a slight premium because we have franking credits in this country. That's a benefit. So therefore the share price of Rail here is slightly higher in the UK. Yesterday mister Southsholm hinted at actually issuing more Aussie shares to fix the imbalance, which is the opposite of dropping the duel listing. He has some big shareholders they're wanting him to drop it. The comments came and an invested briefing mister Southsholm Wasso forecast big jumps and copper output for the company over the next year or so. They are trying desperately to offset their reliance on iron or Michael.

Yes, so this is one of those stories where we tend to give people a lesson. So just put up with us for a moment. Like at the moment, you could buy a REO share on the ASEX or you could also buy it on London's foot seat. So the British share market BHP used to be the same. It dropped that idea about it was early twenty twenty two. When it dropped it, it suddenly became it boosted its size because you could only trade it in Australia and it made BEHP the biggest company on the boss back then. Some shareholders think Rio should do the same. About seventy seven percent of shares in Reo are actually traded in the UK, twenty three percent in Australia. Maybe the argument is it should just go to the UK not Australia argues that the duel listing reflects what the minor is, part British, part Australian. It also means it's got access to a lot more shareholders, easier the Australian shairs actually trade at a slight premium because we have franking credits in this country. That's a benefit. So therefore the share price of Rail here is slightly higher in the UK. Yesterday mister Southsholm hinted at actually issuing more Aussie shares to fix the imbalance, which is the opposite of dropping the duel listing. He has some big shareholders they're wanting him to drop it. The comments came and an invested briefing mister Southsholm Wasso forecast big jumps and copper output for the company over the next year or so. They are trying desperately to offset their reliance on iron or Michael.

Is franking credits really the main reason that you would pick Australia over the US in terms of the side sorry over the UK, because obviously the size of the market in the UK is bigger.

Is franking credits really the main reason that you would pick Australia over the US in terms of the side sorry over the UK, because obviously the size of the market in the UK is bigger.

It's a good question. I don't know why. I mean, they're in Australian company and I think it's difficult for them to so. Some of the healthcare companies particularly have left Australia and just become US companies with sort of secondary listings here. Very hard for a big minor like Rio tinto the HP decided to come home. Very hard for them to do that. I think that's probably you know, they've got this social license rare to go and blast and mine in Western Australia, in the Pilbra, in the Kimberley, and I think they have to look after that. And if they actually left and became a British company, I think that'd be a problem.

It's a good question. I don't know why. I mean, they're in Australian company and I think it's difficult for them to so. Some of the healthcare companies particularly have left Australia and just become US companies with sort of secondary listings here. Very hard for a big minor like Rio tinto the HP decided to come home. Very hard for them to do that. I think that's probably you know, they've got this social license rare to go and blast and mine in Western Australia, in the Pilbra, in the Kimberley, and I think they have to look after that. And if they actually left and became a British company, I think that'd be a problem.

Oh yeah, that that actually makes sense. Now, uranium stocks Sean are now the most shorted companies on the ASX. This is interesting.

Oh yeah, that that actually makes sense. Now, uranium stocks Sean are now the most shorted companies on the ASX. This is interesting.

This is not a list you want to be on. When you say shortened. Basically, big investors are taking a bet that your share price is going to four Lithium stock. Mineral Resources has been the number one shortened stock for months. It's down to number seven. Uranium stocks they rent very hard until the first half of this year. They've come off a bit. We're talking about Paladin, Boss Energy, Deep Yellow, fantastic name for uranium company. They're all high on the list of shorted stocks. There are a few battery minerals companies, so Sirah Resources, Pilbra Minerals, Mineral Resources, we just mentioned Lion Town, so a few of those companies. There also some other familiar names on the top fifteen or twenty stocks that are shortened big investors betting that they're going to go the wrong way. Domino's Pizza's one corporate travel Managements another Seek is in that and so too, In fact, is Rio Tinto all.

This is not a list you want to be on. When you say shortened. Basically, big investors are taking a bet that your share price is going to four Lithium stock. Mineral Resources has been the number one shortened stock for months. It's down to number seven. Uranium stocks they rent very hard until the first half of this year. They've come off a bit. We're talking about Paladin, Boss Energy, Deep Yellow, fantastic name for uranium company. They're all high on the list of shorted stocks. There are a few battery minerals companies, so Sirah Resources, Pilbra Minerals, Mineral Resources, we just mentioned Lion Town, so a few of those companies. There also some other familiar names on the top fifteen or twenty stocks that are shortened big investors betting that they're going to go the wrong way. Domino's Pizza's one corporate travel Managements another Seek is in that and so too, In fact, is Rio Tinto all.

Right now, Sean turning to international news, The French government has collapsed after Prime Minister Michelle Barnier was removed after a no confidence vote.

Right now, Sean turning to international news, The French government has collapsed after Prime Minister Michelle Barnier was removed after a no confidence vote.

He was only appointed three months ago by President Emanuel mccron. Mister Barnier, it has been under fire ever since. He used special powers to force through his budget without a vote in parliament. Now that budget was a tough budget. It included big tax increases, huge spending cuts. What's happened The far right teamed up with a leftist block in parliament to vote the prime minister out. That's the first time that's happened in France in more than sixty years. Mister mccron now needs to find a new PM. French Parliament is a tricky beast. It's divided into three blocks and none of which have a majority. So mister mccron needs to find some that they'll all agree with Also, Michael, just a quick update of the crisis in South Korea. President Yune declared martial law and then a few hours later said he wouldn't do it. He blamed his defense minister at the time, saying, well, he gave me the idea. Now he carried it out, obviously, but he said the defense mister gave me the idea. Anyway, he sacked him yesterday.

He was only appointed three months ago by President Emanuel mccron. Mister Barnier, it has been under fire ever since. He used special powers to force through his budget without a vote in parliament. Now that budget was a tough budget. It included big tax increases, huge spending cuts. What's happened The far right teamed up with a leftist block in parliament to vote the prime minister out. That's the first time that's happened in France in more than sixty years. Mister mccron now needs to find a new PM. French Parliament is a tricky beast. It's divided into three blocks and none of which have a majority. So mister mccron needs to find some that they'll all agree with Also, Michael, just a quick update of the crisis in South Korea. President Yune declared martial law and then a few hours later said he wouldn't do it. He blamed his defense minister at the time, saying, well, he gave me the idea. Now he carried it out, obviously, but he said the defense mister gave me the idea. Anyway, he sacked him yesterday.

That has all the hallmarks of a bandaid.

That has all the hallmarks of a bandaid.

Yeah, I think so yep.

Yeah, I think so yep.

Now, I mentioned this extraordinary story about espionage Sean Chinese government hackers have compromised telecommunications infrastructure around the world as part of a massive espionage campaign that has affected dozens of countries. Now, this is according to a top US security official.

Now, I mentioned this extraordinary story about espionage Sean Chinese government hackers have compromised telecommunications infrastructure around the world as part of a massive espionage campaign that has affected dozens of countries. Now, this is according to a top US security official.

This story has been bubbling for a couple of months, but there's been no real confirmation. And obviously, when you're talking about Chinese government hackers getting into governments of countries, those governments don't want to talk about it. A woman called Anne Newberger, whose President Joe Biden's Deputy National Security Advisor for cyber and Emerging Technology, came out and said the so called Salt Typhoon campaign is ongoing and that at least eight telecommunication firms in the US have been breached, according to report in the Wall Street Journal. Now, the Chinese government has totally denied responsibility for the hack. The US don't believe them, certainly the remarks of the most specific public acknowledgment yet by the US government concerning this vast scope. It's a verity of the hacking campaign, which investigators have traced to a Chinese intelligence agency.

This story has been bubbling for a couple of months, but there's been no real confirmation. And obviously, when you're talking about Chinese government hackers getting into governments of countries, those governments don't want to talk about it. A woman called Anne Newberger, whose President Joe Biden's Deputy National Security Advisor for cyber and Emerging Technology, came out and said the so called Salt Typhoon campaign is ongoing and that at least eight telecommunication firms in the US have been breached, according to report in the Wall Street Journal. Now, the Chinese government has totally denied responsibility for the hack. The US don't believe them, certainly the remarks of the most specific public acknowledgment yet by the US government concerning this vast scope. It's a verity of the hacking campaign, which investigators have traced to a Chinese intelligence agency.

I know this is really serious, but Salt Typhoon is a cool name, like if you were going to get your if you're a PATATEELCO and you're going to get hacked, you'd want it to be as.

I know this is really serious, but Salt Typhoon is a cool name, like if you were going to get your if you're a PATATEELCO and you're going to get hacked, you'd want it to be as.

Part as the typhoon care YEA, yeah, I think so.

Part as the typhoon care YEA, yeah, I think so.

Anyways, Sean, The MERCER Quality of Living report has been released and Zurich takes out the top spot. Sydney has slipped down the list to number twelve.

Anyways, Sean, The MERCER Quality of Living report has been released and Zurich takes out the top spot. Sydney has slipped down the list to number twelve.

MERCER ranks cities for their expat appeal. It's not for those living in it, for those if you want to go and live there. Zerich outstanding public services, low crime rates, cultural scene and commitment to sustainability. All sounds pretty good, next with Vienna Geneva. In fact, the top ten were dominated by these beautiful European cities. According to a report on Bloomberg, Singapore is the highest Asian city at thirty. Los Angeles the biggest climber, up twenty six places to forty four thanks to improved crime. When they say improved crime, I'm presuming they mean less crime, improved air quality in internet access Sydney, which they don't count as part of Asia. Intertingly, I suppose we're the pacivic we Sydney fell three places to twelve, number twelve. Melbourne came in at twenty. Cambrig came in at twenty nine. Bottom of that list, Baghdad in Iraq, Khartoum incident. There you go.

MERCER ranks cities for their expat appeal. It's not for those living in it, for those if you want to go and live there. Zerich outstanding public services, low crime rates, cultural scene and commitment to sustainability. All sounds pretty good, next with Vienna Geneva. In fact, the top ten were dominated by these beautiful European cities. According to a report on Bloomberg, Singapore is the highest Asian city at thirty. Los Angeles the biggest climber, up twenty six places to forty four thanks to improved crime. When they say improved crime, I'm presuming they mean less crime, improved air quality in internet access Sydney, which they don't count as part of Asia. Intertingly, I suppose we're the pacivic we Sydney fell three places to twelve, number twelve. Melbourne came in at twenty. Cambrig came in at twenty nine. Bottom of that list, Baghdad in Iraq, Khartoum incident. There you go.

I feel like Brisbane's been ripped off clearly, clearly. I'm alone in thinking no, no, no, no, But thank you for the resounding support.

I feel like Brisbane's been ripped off clearly, clearly. I'm alone in thinking no, no, no, no, But thank you for the resounding support.

Well look, I'm not don't favor any cities in I'm startering here. I'm a Perth fan. Like I'm sorry Adelaide and Brisbane. I'm per fin I've got to get it out there. Hobart love Hobart, big fan in Melbourne and Sydney of great cities. So you know, sort of a lot of time my life's been in Sydney and Melbourne. Great cities, Big Perth, Big Hay up Fan, I need to spend more time in a in Brisbane, I think.

Well look, I'm not don't favor any cities in I'm startering here. I'm a Perth fan. Like I'm sorry Adelaide and Brisbane. I'm per fin I've got to get it out there. Hobart love Hobart, big fan in Melbourne and Sydney of great cities. So you know, sort of a lot of time my life's been in Sydney and Melbourne. Great cities, Big Perth, Big Hay up Fan, I need to spend more time in a in Brisbane, I think.

Okay. I feel like we've sufficiently kind of named checked every kind of city in Australia, so no one's feeling left out right now, Sean. Up next is the Fear and Greed Daily Interview Ben Dixon, CEO of FONTO. Great interview talking about everything from from retailers right through to coffee in Australia. Check that one out. It's coming up in the Fear and Greed playlist on your podcast platform or at Fearangreed dot com Today you and keep an eye on your playlist as well. At midday there's a new episode of Ask Fear and Greed where we answer listener questions. That's a must listen. Thank you very much, Sean.

Okay. I feel like we've sufficiently kind of named checked every kind of city in Australia, so no one's feeling left out right now, Sean. Up next is the Fear and Greed Daily Interview Ben Dixon, CEO of FONTO. Great interview talking about everything from from retailers right through to coffee in Australia. Check that one out. It's coming up in the Fear and Greed playlist on your podcast platform or at Fearangreed dot com Today you and keep an eye on your playlist as well. At midday there's a new episode of Ask Fear and Greed where we answer listener questions. That's a must listen. Thank you very much, Sean.

Thank you, Michael.

Thank you, Michael.

It is Friday, the sixth of December twenty twenty four. Make sure you're following the podcast very important. Just hit that follow button and join us online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson. That was Fear and Greed. Have a great day.

It is Friday, the sixth of December twenty twenty four. Make sure you're following the podcast very important. Just hit that follow button and join us online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson. That was Fear and Greed. Have a great day.