Squawking Kid Rock-Madonna, Apple-Icahn, Greenspeak
Talking Squawk looks at Kid Rock calling out Madonna on Detroit, Carl Icahn's Apple obsession, and Greenspeak to avoid the next financial crisis. This is the official "Squawk Box" blog, providing tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME from the notepad of the show's senior executive producer.
Our mission on "Squawk Box" is to give you access to billionaires, power players, gatekeepers, policymakers and power brokers ... one after another: Buffett, Bowles, Tepper, Cooperman, Greenspan Evans. Week after week, we keep delivering the goods (if I do say so myself)! That makes deciding who gets top billing in this blog downright stressful.
This week alone we had more than 10 Fortune 500 CEOs, plus Alan Greenspan, Chicago Fed President Charlie Evans and boom-and-gloom guy Marc Faber. So who gets the marquee spot? Who's the big cheese? Who gets their name in lights? Robert James Ritchie ... who?
Under the bus
OK, he referred to himself as Bob in the interview we did with him this past week, but everybody else knows him as Kid Rock, and the Detroit-loving musician wasn't shy in his criticism of another Motor City native, Madonna.
"Madonna ain't done nothin' for Detroit," Kid claimed, but then showed a bit of remorse. "I picture my mom sitting in front of her TV saying, 'Now, Bob, you don't have to blow someone else's candle out to make yours glow brighter.' "
(Watch the entire Kid Rock interview here—the Madonna comment is at 7:34.)
But perhaps in a sign to come, billionaire Dan Gilbert—the Quicken Loans founder and Cleveland Cavaliers owner who has bet big on the comeback of financially ruined Detroit—was quick to respond, "Don't count her out."
Earlier this month, Madonna tweeted about Detroit: "Its time for a renaissance lets bring back the motor city lets bring back."
I'm certainly thankful that I work on the only program in the world that can have Kid Rock and Alan Greenspan as guests on the same day!
For years, we didn't know what former Fed Chairman Greenspan was talking about, but he kept talking anyway and the markets listened. Then one day, back in the 1990s, he uttered those famous words "irrational exuberance" and suddenly both Wall Street AND Main Street started to hang on his every word.
In his new book, he uses words like "leverage" and "bubbles." Does he have your attention yet? He explained to us why it's the combination of both that led to the 2008 financial crisis.
We also had one of the current Federal Reserve bigwigs on: Chicago Fed President Charlie Evans. He told us that central bank policymakers may not begin tapering for months, because the government shutdown delayed the release of many important economic reports.
Gloom and doom
Marc Faber says some pretty crazy stuff. Keep in mind, he writes the Gloom, Boom & Doom newsletter, so it's in his best interest to frequently predict the Apocalypse.
But some of his predictions come to pass. For example, he told "Squawk" when the Fed had just started its bond-buying program, known as quantitative easing, that it would still be going at QE 99. We thought he was nuts, but sure enough, Faber was much closer to the truth than many other more mainstream economists.
So should we listen this time, as Faber predicts that tapering is off the table and he's waiting for asset purchases to start getting bigger? Read and watch, then decide for yourself!