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  • Hey, Andrew, can you introduce yourself?

  • I'm Andrew. I'm currently driving a car in Melbourne, Victoria.

  • It's quite frustrating.

  • Is that all? All about yourself?

  • Are we parking here?

  • I think so.

  • Are we going to Masons? (my fave clothing store)

  • You can if you like.

  • So now that we parked we are now walking.

  • We're just going to Sensory Lab, yeah?

  • Yes.

  • Okay.

  • Or here?

  • Ah no, they don't make good coffee.

  • Coffee snob.

  • Yeah, I am.

  • We should open a cafe in Tokyo.

  • Yeah possibly.

  • When I was in Japan, you know...

  • I always thought Starbucks was one of the best coffee shops,

  • but here in Melbourne, it's the norm that Starbucks is the worst.

  • Used to be a lot more popular.

  • Do we have a spot?

  • Sure, you'll find one

  • Hello.

  • Are you guys alright?

  • Do you have a table for two?

  • I don't know how good this microphone is really,

  • so it may not be picking anything.

  • Wouldn't that be a waste of effort?

  • Well...

  • See? Just over there next to the lady.

  • At the round table?

  • Do you know what you want?

  • Can I get a long macchiato, please?

  • Long macchiato.

  • Uh...Soy Chai.

  • Soy Chai

  • Thank you.

  • Welcome back.

  • Deconstructed.

  • Deconstructed what?

  • Coffee.

  • Nah, no you didn't.

  • Let's talk about timelines.

  • Timelines for Distinction III?

  • Before that!

  • Or everything.

  • Before that,

  • I have an interesting thing coming up in October.

  • Uh-huh?

  • I kinda briefly talked about this, but you know

  • I'm doing a tour, national tour.

  • National tour of Japan, yep.

  • Going to eight cities in Japan.

  • Sapporo, Hiroshima, Okinawa, Osaka, Tokyo, Sendai...

  • Never been to Okinawa, how is it?

  • No, never. Never have I. Never.

  • You've never been Hiroshima either.

  • No neither.

  • Great Okonomiyaki.

  • Oh yeah?

  • They make a different type of Okonomiyaki, don't they?

  • I went to this place where there is just an open grill like all around.

  • It was amazing.

  • Oh was it?

  • Yeah. Where I ran into some Australians...

  • Did you try Okonomiyaki in Osaka as well?

  • No, just Hiroshima.

  • So is that the very first and last Okonomiyaki you've ever tried?

  • In Japan Yes.

  • Ah, OK.

  • You may come over to Japan for a week and we could catch up?

  • I could squeeze that in.

  • I'm not gonna pay for your cost, but happy for you to come.

  • Yeah, it's difficult.

  • By the way, I booked a ticket already for the next month trip for 2 weeks, right?

  • It was only 800 bucks.

  • It's pretty good! Return?

  • Return! JAL! Direct.

  • And, now the exchange rate is 75 yen per dollar.

  • That's shocking.

  • It's like 60 thousand yen for a round trip ticket. It's crazy.

  • So I was like "Yep! Book it straight away! Do it!"

  • Autumn? Last year?

  • Years ago now. 2015 or something.

  • 2015!? You're missing out.

  • Yeah, I know.

  • Oh my gosh, you're missing out.

  • Seriously.

  • It's been a few years.

  • Did you go anywhere else in the meantime?

  • Oh yeah.

  • Did you?

  • You mean outside of Australia?

  • Yep.

  • Oh, where did you go?

  • South Africa.

  • Oh right, I remember that.

  • Malaysia, Vietnam

  • ...and Japan was the best for sure?

  • Yeah for the purposes of this video I would say yes.

  • Well...you can speak your mind.

  • But if you were to pick one country..?

  • Nah, I can't. it's like picking my favourite child.

  • That's a good expression. That's a really good expression.

  • Thank you, I thought so as well.

  • We don't have to go to Supernormal (the name of a restaurant), we can go somewhere else.

  • Let's go to Supernormal.

  • Do you like it?

  • Yeah, I do. I really like their fish saute kind of thing.

  • We often call it a celeb tax in Japan.

  • Celeb tax, that's a good way of putting it.

  • Like you are unconsciously paying tax by being a celeb.

  • How much money do you need to...uh... to not worry about having to work?

  • $200,000 a year.

  • So in terms of asset?

  • A few mill.

  • A few mill?

  • To never work again?

  • Well, to not worry about having to work, you know what I mean?

  • So you still keep working,

  • but I think to some extent you have in your mind that you are working

  • because you have to earn money to make a living.

  • Where I want to get to is...to be able to put aside some money into like an ETF or some kind of fund.

  • Letting it earn like 10%-15% every year.

  • And that's enough to pay for

  • (Andrew) more or less spending in a year. (ATSU )The rest of your life.

  • That's sort of the position I wanna get to.

  • So I need to kind of backcell them and then work out how much that is.

  • So maybe 2 million dollars or so that you need to let it happen?

  • I think so.

  • Of course, there is a risk behind it, right?

  • The market might crash.

  • Every 7 years people say that there is a global financial crisis.

  • I was having a chat with my friend who used to be a financial planner,

  • and he was like it's a risk not to make an investment.

  • Yep.

  • It's true, but you know I'm a little risk-averse,

  • and I haven't been able to bite the bullet. ("bite the bullet" - 思い切る「Distinction I」 掲載)

  • Probably not a good time to get in.

  • Yeah, but you know the sooner the better people say.

  • I'd say give it until the end of this year, and see how things are looking.

  • I kind of feel like this crash coming.

  • You think? You kinda feel like?

  • And it's gonna be a bad one.

  • It's gonna be a bad crash when it eventually happens.

  • Is that just your gut feeling? (gut feeling - 直感「Distinction II」掲載)

  • When it will happen is kind of my gut feeling.

  • Why it's going to bad is I think quite factual.

  • I think it's going to be bad

  • because there are no mechanisms left to fix everything that happens.

  • So what do you normally do to fix the crash? You print money?

  • Yeah, expansionary monetary policy which is not necessarily effective

  • and also fiscal policies taken by the government, according to my textbook.

  • You build stuff?

  • built stuff. Yeah, if there is any room for it.

  • Yep.

  • You decrease interest rates.?

  • Yep, which is the monetary policy right?

  • So all three levers are basically no longer available to anyone in the western world.

  • The interest rates - in Australia we are at... what, 1%?

  • Yeah, I think about that.

  • Now it's 1, it's going down to 0.75 or even further to 0.5 right?

  • Yep. Japan is negative?

  • Yep.

  • I think the US is 0 or negative?

  • No, the US is still plus.

  • It's got like 2.... like 2-3% now.

  • Basically, no...no...there's not a lot of room to move.

  • Apparently, the Japanese monetary policy wasn't as effective as we thought.

  • As we... I don't know how many years ago it was,

  • but you know we started what we call Abenomics where we expanded the monetary base,

  • but it didn't really flow into the market.

  • Yeah, so people don't get it.

  • I explained to them. That's the other thing as well.

  • Global inflation is basically flat.

  • And everyone's like "Isn't that good?"

  • And I was like "No it's not, it means there's no growth.

  • No, it's not good."

  • We need a moderate inflation rate.

  • Yeah, you need a little bit of inflation like you can't have zero global inflation.

  • We need like 2%, right?

  • It seems like no matter what anyone does there's no inflation.

  • And they actually don't understand it.

  • Like normally they know why there's got to do anything about it.

  • It's like they literally do not get why it's happening right now.

  • which means like approximately probably 70-90% of people working right now are unnecessary,

  • because they're gonna be all replaced or transformed into the form of AI.

  • That's a point when people start seriously thinking about the concept of Basic Income.

  • When I was making a powerpoint slide for a meeting the other day,

  • I was like s**t, like what's the point of doing this.

  • There's...there's stuff that I do in excel.

  • I'm like I would gladly have a robot do this for me.

  • Gladly. Like, it's the same as getting a grad to do it, right?

  • Like, I don't need to be copying and pasting stuff to add value.

  • I can get someone else to do that.

  • That's fine. There's plenty of other things I can do.

  • I was like what's the point of making this like just for formality?

  • And people are like ah yeah

  • Just looks you've done some work

  • it's a custom that we make one pager....

  • Why do some people say one pager instead of one page?

  • It's uh... it becomes a noun.

  • But page is a noun, isn't it?

  • One page, two pages...

  • I think it makes it almost like a proper noun?

  • Let's just park here.

  • We're back to square one.

  • Yeah, basically.

  • We should be able to park in the same spot, right?

  • Yeah, I think so.

  • and it's more handy anyway.

  • There's a spot there.

  • Is this?

  • Yeah, that's a spot.

  • There you go. Go back, go back.

  • I just have to execute an insane reverse park.

  • Does every native speaker speak like that?

  • What?

  • What did you say just now?

  • Execute an insane reverse park

  • Is that your thing?

  • What?

  • It just sounds so...

  • Good?

  • Scientific.

  • Amazing?

Hey, Andrew, can you introduce yourself?

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Operation of videos Adjust the video here to display the subtitles

B1 AU inflation okonomiyaki monetary gut feeling monetary policy distinction

[English conversation] I talked with natives all day long!

Video vocabulary