Avsnitt
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Ken Langone started a small operation called Home Depot.
These days he is a billionaire and major donor to the Trump campaign and Republican Party.
He is, like all the rest of us looking on, incredulous, or furious, or in disbelief, or confused.
Yesterday for a very brief period, a rumour that appeared to come out of a very small 'X' account and somehow linked to CNBC, swept the market.
It said Trump was considering a 90-day pause on the tariffs. The market which had been continuing its downward trajectory, or “tanking” as some people called it, abruptly upped stick and reversed.
It surged by about 8%, which is a lot, until it turned out none of it was true. So it fell apart again.
As one article suggested, that was an off-ramp for the President. In other words, had the rumour been true and Trump decided it could all be a mistake, the markets would have forgiven him, put it all behind them and we would be on our merry way.
But back to Ken. Ken said "I don’t understand the goddamn formula". In that, he is not alone.
Many of the billionaires who backed Trump don't understand the formula. They also didn’t back the idea that Trump would trash the place and yet more of them, mainly headed by the bloke who runs BlackRock, think the US economy is already in recession.
If it is in recession Howard Lutnick will need to be rolled out to explain how that happened, given according to Lutnick, it wasn’t possible.
So once again we ask the simple question – if the brightest people in the room don’t understand the "goddamn formula", if Trump's closest allies and supporters don’t get it, who does?
Or worse, is it possible no one does? Is this thing a runaway train?
If it's not a runaway train, is it possible that yet another Trump backer is right when he suggests America is now a global laughing stock?
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Should you look into building a house?
CoreLogic’s latest Construction Cost Index suggests that outside of Covid, the price to build is the lowest it’s been since 2012.
Costs are rising at one of the slowest rates on record, with only 0.9% over the last year.
Generation Homes CEO Craig Hopkins told Mike Hosking the sectors’ greatest competition is the pre-existing market, with around 33,000 houses currently up for sale.
However, he says, as far as building a house, now is the perfect time to do so.
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Saknas det avsnitt?
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Fans may have noticed a more enjoyable Super Rugby product this season.
Static time has been cut by 73 seconds, and an average of 61 points are being scored per game – the highest ever.
Viewing numbers and game attendance have also increased.
CEO Jack Mesley told Mike Hosking the growth’s happening on both sides of the ditch, with Australia leading the charge this season.
He says their focus is to string seasons of growth back-to-back so that they’re moving in the right direction, and that’s certainly happening.
Mesley says the unexpected results are fuelling some of the interest.
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On the Mike Hosking Breakfast Full Show Podcast for Wednesday 9th of April, will the tariffs affect our OCR announcement this afternoon?
A new report on organised crime shows we are in shambles, it's getting worse, not better, and we are losing the fight.
Ginny Andersen and Mark Mitchell talk Andrew Little’s potential run for Wellington mayor, David Parker’s resignation, and organised crime on Politics Wednesday.
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Australian Prime Minister Anthony Albanese has come out on top in the first debate of the election.
Of the 100 undecided voters polled after the debate, 44 chose Albanese, 35 chose his opponent Peter Dutton, and 21 were undecided.
Australian correspondent Steve Price told Mike Hosking a personal tragedy struck Dutton shortly before it started.
He says Dutton received news his father had had a heart attack an hour before the debate started.
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Labour's Ginny Anderson says former party leader Andrew Little would make a great mayor.
Newstalk ZB yesterday revealed Little is actively considering running for the Wellington Mayoralty after previously ruling it out.
Little says the city needs a change, and he's been approached by many to run.
Andersen told Mike Hosking he'd improve the council
She says Little's level headed, and would be a safe pair of hands which the city desperately needs.
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Methamphetamine use skyrocketed to its highest level last year as New Zealand struggles to keep pace.
A ministerial advisory group on organised crime has released it's first report since being established in February.
It says police and customs do their best, but the reality is the country is losing the fight.
Advisory group chair Steve Symon told Mike Hosking there are high spikes in rural areas across the country.
He says that this is evidence against the theory that gangs are dumping meth in the water to avoid police raids.
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International students are returning to New Zealand campuses, with numbers reaching pre-Covid levels.
Education New Zealand says the students contribute billions to the economy annually.
Universities New Zealand CEO Chris Whelan told Mike Hosking it's a welcome financial boost.
He says as well as bringing life back to the campus, they also help keep our institutions afloat financially.
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The Police will continue with their plan to pull back from mental health callouts, but they're going about it more slowly.
From Monday, 4 of the 12 police districts will move into the second phase, which involves 60-minute ED handovers.
They will now be staggered across districts, instead of all at once.
The Mental Health Foundation has been critical of the pull back.
Police Association President Chris Cahill told Mike Hosking police need to draw a strong line in the sand to ensure people are taken care of by the right people.
He says that shouldn't involve police sitting in emergency departments for six hours.
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More than 70 countries have approached the White House for talks following Trump’s tariffs.
There's been no let up on China though – the US has promised to hit them with a 50% increase tomorrow.
That will take China's total tariff rate to 104%.
US Correspondent Richard Arnold told Mike Hosking the world's biggest company, Apple, has been dealt a massive blow.
He says its lost 20% of its market value in the past three days, and is pivoting production to India instead of China.
The White House has raised the idea of manufacturing in the US, but Arnold says it’s unlikely as it would costs thousands of dollars more.
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Economists are agreeing on where they think today's Official Cash Rate will land.
They expect a 25 basis point cut to the OCR, down from 3.75%.
ANZ Chief Economist Sharon Zollner told Mike Hosking there's a risk the Reserve Bank opts for a different strategy after the US tariff announcement.
She says if it were to be a surprise, a 50-point cut is more likely than a pause.
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A touch of the ol' intellectual snobbery reared its head with news that the Defence Force dropped education criteria last year.
As a person who had no time for school and could not wait to get out into the world, I was, and still am, very grateful for the idea that you choose the person and not the piece of paper when it comes to work.
When I started, School Certificate and UE were what you needed to get into the media, or at least to have a crack.
These days you need a degree. I can assure you the quality of those graduates has not changed one iota as a result of several years of study.
The military is an awfully difficult place to recruit for, especially in a country like ours.
Just what is it you are offering? We don't do a lot; we don’t have a lot of equipment and we don’t fight wars. We keep peace and patrol.
So in a world where work-life balance and work from home and 4-day weeks are commonplace, average pay, Waiouru, and a lot of early rises aren't exactly calling cards.
So you simply now need three years of school. You don’t even need Level 1 NCEA.
Here is the thing – some people aren't into school. I know this because I was one of them.
Not all life choices, work choices, or skills are gained by passing Year 11 maths.
The military is as much about attitude and aptitude – it's a structured environment and it is designed for a specific type of person.
In places like America, they recruit people who may well struggle to get regular work. That is the way it is and it's a simple truth. They offer dental and medical in a country where you may not be able to afford it.
They offer a career and travel and opportunity in careers and trades you may not have even thought of.
Here you can be an auto technician, plumber or diver. They are the jobs on offer in the military with no skills. Could you do that in civilian life? No.
Being good with an engine does not mean you are good in class.
These are doors of opportunity
If the military through necessity can make it work, who are these outside snobs who still believe that exams and results are the sole key to employment?
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It’s fair to say Bruce Hornsby is a bit of a legend in the music game.
Even a casual fan will know ‘The Way It Is’, the intro often considered the greatest piano intro of all time, and finding even more fame thanks to Tupac using it in ‘Changes’.
He began his career in the 80’s, and since then, some of the biggest and best have cited his influence, including the likes of Willie Nelson and Crosby, Stills and Nash.
Hornsby is showing no signs of slowing – releasing four albums so far in this decade alone.
Although he’s found great success in his career, Hornsby told Mike Hosking he was a pretty bad “popstar”.
“I was gonna do what I was gonna do whether it was successful or not,” he said.
“Always been a musician first, and I was a bit of a creatively restless soul.”
His music has become more experimental over the years, much to the chagrin, he says, of his long time fans.
“I’m just interested in evolving and pushing,” Hornsby told Hosking.
“So when, when I lose, hopefully when I lose a certain old time fan, that he just hates it, hopefully I garner some newer and most likely younger fans.”
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On the Mike Hosking Breakfast Full Show Podcast for Tuesday 8th of April, the Government has announced a major defence spend – the highest since WWII. Defence Minister Judith Collins and former Minister Ron Mark share their thoughts.
A New Zealand restaurant has is in the top three – worldwide.
Famed singer and pianist Bruce Hornsby has been on Mike's interview bucket list for decades, and he's finally on the show.
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Central Otago has once again caught the attention of world-renowned food critics.
In Food & Wine’s Global Tastemaker Awards, Queenstown’s Amisfield has been named the third best restaurant in the world.
It was recognised in the Top 15 International Restaurants category, with the judges saying it was a “beacon for wine enthusiasts worldwide who seek an unparalleled dining experience”.
Executive Chef Vaughan Mabee told Mike Hosking they’re always striving to improve and give their guests an amazing experience.
He says they try to show them the beauty and bounty of New Zealand and its differences through our food and wine.
Mabee was also voted in the world's top 45 chefs – the sole Kiwi in the top hundred.
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The World of Wearable Arts is already preparing for this year's show.
Executive Creative Director Brian Burke has announced he's returning for another year to lead the show in six months.
The fashion competition features designers from more than 40 countries each year.
Burke told Mike Hosking it's his pleasure to be involved with the fashion design extravaganza.
He says he loves the ability to always deliver something new and fresh, but still maintain the same DNA.
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The Government's promising to spend big in areas of defence, including improving its fleet in the air, and on the land, and sea.
The long-awaited Defence Capability Plan was released yesterday afternoon, with $12 billion worth of public spending across four years – $9 billion of which is deemed new spending.
It includes plans to bring defence spending up to two percent of GDP, with procurement for maritime helicopters, vehicles, and a replacement plane fleet.
The Defence Minister is confident in the work done by Finance Minister Nicola Willis, reassuring they’re not spending money New Zealand does not have.
Judith Collins is also standing by changes making it easier to enter the armed forces.
Since last year most Defence Force roles now only require three years of high school to Year 11, instead of passing Level One credits.
More technical roles now only require a Level Two certificate.
Collins told Mike Hosking being smart academically is helpful but isn't the first port of call.
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Former Defence Minister Ron Mark's toasting the coalition Government following a commitment to more defence spending.
It's pouring $12 billion over four years into defence – $9 billion of which is new spending.
It includes enhancing our strike capabilities, replacing the Boeing 757 fleet, and upgrading our javelin anti-tank missiles.
Mark told Mike Hosking it will be good for New Zealand's strategic partners.
He says it will provide security comfort for South Pacific Defence Ministers, Five Eyes, and NATO.
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The Justice Minister says he's hunting for a solution to make sure victims of crime get their reparations.
Figures released under the Official Information Act show almost half of all court-ordered reparation payments are overdue – $105 million owed to victims.
Paul Goldsmith says there's scope for taking it out of people's benefits.
He told Mike Hosking while they don't want to send people to prison, there needs to be an incentive to pay.
Goldsmith says he's looking for an annoying and painful punishment that will make criminals pay up.
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The US is facing a trade war with China and a potential trade war with Europe.
Donald Trump's threatening to raise tariffs on Chinese goods to more than 100% in response to the retaliatory tariffs announced by China over the weekend.
The EU is still mulling over its response.
Paris Correspondent Catherine Field told Mike Hosking in the past few hours, the EU's revealed it offered the US a "zero-for-zero" tariff deal in February and never heard back.
She says the EU is still leaving that on the table but are now looking at some sort of retaliation.
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- Visa fler
