Pullbacks in Equities & in China, Hurricane Hilary, & A Windy City Tipping War 8/21/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 21 August 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The markets are mid-pullback, this August; Wharton Professor Jeremy Siegel offers his perspective on bonds versus stocks, and which investments are the most promising for your portfolio. In Chicago, a tipping battle is underway. Scott Weiner, restaurateur and co-owner of The Fifty/50 Restaurant Group in the windy city, discusses the gratuity quandary–and legal proposal–gripping consumers and the local dining industry. Plus, CNBC’s Jane Wells reports from Palm Springs, where Hurricane Hilary made landfall, and CNBC’s Eunice Yoon reports from Beijing, on China’s latest interest rate cut and the country’s struggling economic recovery. Jane Wells - 16:24 Jeremy Seigel - 20:08 Scott Weiner - 30:45 In this episode: Jane Wells, @janewells Eunice Yoon, @onlyyoontv Steve Liesman, @steveliesman Scott Wapner, @ScottWapnerCNBC Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

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, three big stories, three interviews
0:11.0	you'll only hear on this podcast.
0:13.6	China's surprise loan rate cut,
0:15.6	how the once vibrant economic engine is stumbling.
0:18.7	Stephen Roach, former longtime Morgan Stanley Asia chairman.
0:22.2	China, since the global financial crisis, has accounted for about 35% of the cumulative increase
0:29.4	in world GDP.
0:31.6	The market's August swoon continues.
0:34.0	Penn Warton Professor Jeremy Siegel tells us if he's T-Bill and chill.
0:38.0	People tell me, oh my goodness, you know, bonds are as good as stocks.
0:42.0	No way for long long run wealth creation.
0:45.0	And tipping wars in the windy city, Chicago restaurateur Scott Weiner on the city's possible move to abolish tips.
0:52.0	In a service charge model, unfortunately a lot of the people that the administration is trying to help
0:57.0	are actually going to be hurt and probably make far less.
1:01.0	It's Monday, August 21st, 2023.
1:05.0	Squawk Pod begins right now.
1:09.0	Good morning.
1:10.0	Welcome to Squawk Box here on
1:12.0	C.N. Live from the Nas NASDAQ market site in time square.
1:14.2	I'm Scott Wopner along with Joe Kernan and Steve Leisman.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.