The “R” Word & Summer Invites: Billionaire or Bust 7/25/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 25 July 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

The U.S. economy may see two consecutive quarters of GDP contraction, but the White House isn’t ready to call it a recession. Whatever we call it though, today’s economic and political environment has pushed Americans to an unhappy place; host of ‘The Art of Happiness’ podcast Arthur Brooks says, both sides of the aisle are to blame. Brooks, also a Harvard professor and contributor for The Atlantic, discusses the loss of faith in capitalism and in America herself, and whether we’ll ever get back to national satisfaction. Plus, we’re tracking billionaire social circles and scandals and an appeal to grown-ups from Disney+. In this episode: Arthur Brooks, @arthurbrooks Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Klaire Odumody, @klairemarie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. M. producer Claire Odumodie
0:07.7	today on Squawk Pod.
0:09.4	What's a recession?
0:11.0	Well, depends who you ask, but whatever the definition, there's one big
0:15.1	bottom line. When you're paying more for gas, when you're paying more for groceries, people
0:19.3	feel that pinch very quickly. While Americans feel that pinch, author and Harvard Professor Arthur Brooks says it's all weighing on our happiness.
0:28.6	Look, we're not fools. We know that 10 years of wanton money printing and then two years of throwing it out of a helicopter.
0:35.0	That's going to have costs to it.
0:37.0	Those stories today, plus Disney Plus, not just G-rated, monkey pox and wow this story about Elon Musk's possible
0:48.0	affair with a Google founder's wife what goes on among the billionaires?
0:53.6	How does that happen?
0:54.4	So billionaires, they go to party, hey,
0:56.2	we're having a party.
0:57.1	Invite Jeff Bezo, Sergei Brin, Elon Musk.
1:00.8	How far down do you go?
1:02.3	It's Monday, July 25th, 2022. Squawk Pot begins right now.
1:08.0	Stand back you by in three, two, one, fuel break.
1:12.0	Good morning everybody. Welcome to squawkbox here on
1:14.9	c. We are live from the NASDAQ market site in Times Square. I'm Becky Quick
1:18.9	along with Joe Kernan and Andrew Ross Sorkin. First up on the podcast and first up on most Americans minds, the R word.
1:28.0	A few days ago, the White House penned a blog post outlining its stance on what constitutes a recession.
	...

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