Bitcoin’s Rally, China’s Credit, & Politics’ Toll on Public Happiness 12/05/23

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 5 December 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Bitcoin hit $42,000 for the first time in over 19 months; crypto investor and bitcoin bull Anthony Pompliano discusses the asset’s rise, regulatory tailwinds for the U.S. crypto companies, and the crypto community’s worldview on central banks and stores of value. In a thoughtful discussion, author, Harvard professor, The Atlantic contributing writer and fellow podcaster Arthur Brooks considers the toll America’s polarizing political climate is taking on the average citizen’s happiness. As tensions rise in Washington and on college campuses, Brooks explains how America’s current approach to community hurts us, more than helps. Plus, today’s headlines: Moody’s cut China’s credit outlook, CVS is changing how it prices prescription drugs, Take-Two Interactive’s stock tumbled after a trailer of the newest Grand Theft Auto game was leaked on X, and voters are gearing up for another Republican Presidential debate this week. Arthur Brooks - 12:17 Anthony Pompliano - 21:55 In this episode: Arthur Brooks, @arthurbrooks Anthony Pompliano, @APompliano Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod from CNBC.
0:07.0	I'm producer Cameron Costa and on today's podcast,
0:10.0	Bitcoin's Rally, what's driving the run-up with crypto investor Anthony Pabloiano.
0:16.7	So when an asset goes up 150%, you would expect people to sell into the strength, kind of
0:20.0	take profits.
0:21.0	That's not happening.
0:22.0	And so Bitcoiners are not selling that Bitcoin, they're not going to sell it to Wall Street. to take
0:25.0	to profit, that's not happening. And so, Bicoyne is not gonna sell it to Wall Street, and so Wall Street's gonna have to continue to bid up the price.
0:27.0	Take-2 interactive stock is tumbling after Grand Theft Auto trailer was leaked.
0:32.0	It looks like an actual movie versus... after Grand Theft Auto trailer was leaked.
0:32.8	It looks like an actual movie versus a video game.
0:36.0	Concerns are rising over China's debt levels,
0:38.8	and CVS is changing up its drug pricing.
0:42.2	I'm still trying to figure out how formular is worked in the first place.
0:45.8	Plus in our polarizing political climate,
0:48.8	amusing on happiness.
0:50.7	Professor, author, and fellow podcaster, Arthur Brooks.
0:54.0	People are substituting their citizenship in their communities for watching political news
0:59.6	shows as a result of that, and that's really lowered our happiness a lot.
1:03.0	It's Tuesday, December 5th, 2023 and Squawk Pot begins right now.
1:08.0	Stand back you by in three, two, one, queue please.
	...

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