Spending with Stanley Druckenmiller: We’ve Got to Stop! We’re Drunk 11/01/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 1 November 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Legendary investor and hedge fund manager Stanley Druckenmiller explains his concerns about the U.S. debt and government aid for Ukraine and Israel. Druckenmiller, billionaire philanthropist and CEO of Duquesne Capital Management, weighs in on Janet Yellen’s leadership of the Treasury, American exceptionalism, and “drunken sailor” spending. Plus, a U.S. jury ruled that the National Association of Realtors and other brokerages conspired to artificially inflate commissions for agent sales, and Sam Bankman-Fried’s fraud trial is winding down. Stanley Druckenmiller: 12:13 In this episode: Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod and I'm C and D.C. producer Cameron Costa.
0:09.0	On today's episode, Hedge Fund Titan Stanley Druckin Miller.
0:14.0	We've got to stop, guys, we're drunk.
0:16.5	We're digging this deep hole.
0:18.3	What are we doing here?
0:20.0	The billionaire Wall Streeter is calling out U.S. debt.
0:23.6	He says we're spending like drunken sailors
0:26.8	and we're digging deeper into our deficit hole.
0:29.7	Most Republicans are going on about,
0:31.6	or at least the MAGA people about wasting money in Ukraine.
0:35.0	Are you crazy? Do you know how much we're going to have to spend if Putin wins in Ukraine?
0:40.0	Plus the other stories of the morning, a ruling in real estate how brokerages
0:45.0	conspired to inflate commissions for agents. This is the only place where
0:49.8	market forces don't come to bear. And the final lap of Sam Bankman Freed's fraud trial.
0:55.6	We're gauging the vibe in the courtroom
0:57.5	after his cross-examination.
0:59.3	There was nobody he had won over in the room.
1:01.6	It's Wednesday, November 1st,
1:03.8	and Squack Pot begins right now.
1:06.1	Stand Becky by in three, two, one, queue please.
1:11.4	Good morning and welcome to Squackbox right here on
	...

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