$30m in Hollywood & A Capitalist Critique 06/17/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 17 June 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

The U.S. Surgeon General wants a tobacco-style warning on social media, and George Clooney, Julia Roberts, and Jimmy Kimmel helped President Biden’s campaign raise $30m at a Hollywood fundraiser over the weekend. Author and investor Ruchir Sharma is out with a new book, “What Went Wrong with Capitalism.” He makes a capitalist critique of our economic system in a lively discussion about the government’s relationship with private industry. Plus, flight tracking company Hopper says July 4th deals are still on the table; the app’s lead economist Hayley Berg explains why prices are down this year, and how to save on a last minute getaway. Ruchir Sharma - 14:10 Hayley Berg - 25:53 In this episode: Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer.
0:07.0	Today, on Squawk Pod.
0:09.0	What went wrong with capitalism?
0:12.0	If there's anything wrong, that it's a capitalist critique of the
0:16.0	only system we've got from author and chairman of Rockefeller International
0:19.6	Roushear Sharma. When things on the upside let them run the moment there's the slightest flutter or something to your
0:25.0	Sharma. The moment there's the slightest flutter or something is going wrong,
0:26.0	we're going to intervene and the government has your back.
0:29.0	So this is not what capitalism was really meant to be.
0:32.0	And a sunny July 4th travel forecast from flight tracking site hopper, economist Haley Berg.
0:38.0	This summer, most airlines have added back more capacity than they had pre-pandemic to some of these top
0:44.3	international destinations. Combine that with more normal demand and slightly
0:48.7	better jet fuel prices, we end up with much better prices.
0:51.7	Plus a Surgeon General's warning slapped on social media.
0:56.0	We know this, thank you for saying it.
0:58.0	The weekend in presidential politics and
1:01.0	Swiftie's impact on, of all things, monetary policy?
1:05.0	Taylor Swift actually moves entire economies.
1:08.0	It's Monday, June 17, 2024.
1:11.0	Squackpot begins right now.
1:14.2	Stand Becky by in three, two, one, queue please.
	...

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