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Money Talks from The Economist
Money Talks: The great debt hangover
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Decades of cheap money has left businesses in America and Europe addicted to debt. Some companies have been borrowing cash just to dole it out to shareholders. But with interest rates now reaching levels not seen in 15 years, those debt-drunk firms are waking up to the threat of a mighty hangover.
On this week’s podcast, hosts Tom Lee-Devlin and Alice Fulwood ask if those firms can kick their debt habit. Goldman Sachs’ chief credit strategist, Lotfi Karoui, explains how companies became hooked in the first place—and what will happen when they start cutting back. And Torsten Slok from Apollo, one of the world’s largest private capital managers, tells them why the cost of borrowing isn’t likely to fall any time soon.
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Money Talks: Play it again, Sam Altman
43:22In five days OpenAI’s boss was fired by its board; hired by Microsoft, the startup’s biggest investor; and returned to his post at OpenAI. Yet things cannot be as they were: the shuffle will have consequences for the darling of the artificial-intelligence community and for the industry as a whole.Hosts: Tom Lee-Devlin, Alice Fulwood and Mike Bird. Guests: Benedict Evans, a technology analyst and former venture capitalist, and The Economist’s Arjun Ramani and Ludwig Siegele.Sign up for a free trial of Economist Podcasts+. If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.
Money Talks: Higher for longer
44:16Higher interest rates are here to stay—or at least that’s what the bond investors seem to think. The US yield curve currently indicates that the Federal Reserve will keep rates at close to 5% for years to come. What has convinced investors borrowing costs can remain so high? And if they’re right, what does it mean for the economy? Hosts: Alice Fulwood, Tom Lee-Devlin and Mike Bird. Guests: Mike Cudzil, a portfolio manager at Pimco; and economist Catherine L Mann.Sign up for a free trial of Economist Podcasts+. If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.
Money Talks picks: How AI will transform fame
09:08An article from The Economist read aloud. We explore the dawn of the omnistar, in the age of artificial intelligence.
Money Talks: Touring America’s industrial revival
44:54President Joe Biden’s Inflation Reduction Act promised $370bn for green infrastructure and industry. It has spurred a surge in massive construction efforts such as battery plants and electric-vehicle factories. Our correspondent goes on a road trip, visiting small towns with big new projects under way and gauging the success of Mr Biden’s economic policy so far.Hosts: Alice Fulwood, Tom Lee-Devlin and Henry TricksRuntime: 44 minThis is a free episode of Money Talks. To listen every week, sign up for a free trial of Economist Podcasts+. If you’re already a subscriber to The Economist, you have full access to all our shows as part of your subscription.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.
Money Talks: The golden rocket
36:06American CEO pay has risen into the stratosphere, while many of their employees have seen their real pay eroded by a sharp rise in the cost of living. The typical boss of an S&P 500 firm now makes about 250 times the US median full-time wage. Is it time to rein in executive pay?Hosts: Tom Lee-Devlin, Alice Fulwood and Mike Bird. Guests: Ryan Harvey, a managing partner at the executive compensation consultancy Meridian; and Alex Edmans, Professor of Finance at the London Business School.This is a subscriber-only episode. To listen sign up for a free trial of Economist Podcasts+. If you’re already a subscriber to The Economist, you have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.
Money Talks picks: Would you rather be a manager or a leader?
05:20An article from The Economist read aloud. Our Bartleby column, on work and management, finds that the distinction between a leader and a manager is both valid and unhelpful
Money Talks: The future of crypto, part two
43:43Last week, we spoke to the author Michael Lewis, who was embedded with Sam Bankman-Fried, as FTX, the crypto-trading empire he built, came crashing down amid allegations of fraud, which Mr Bankman-Fried denies. Mr Lewis credits Changpeng Zhao - the boss of Binance, a rival exchange - with bringing Mr Bankman-Fried to prominence. But CZ, as he’s known, may also have played a role in his downfall. This week, we speak to him about what the future holds for crypto. Hosts: Alice Fulwood, Mike Bird and Tom Lee-Devlin. Guests: CZ.Sign up for Economist Podcasts+ now and get 50% off your subscription with our limited time offer. If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.
Money Talks: Welcome to Economist Podcasts+
02:43A special mini episode to welcome you to our subscription service. Sign up for Economist Podcasts+ before October 31st for 50% off. If you’re already a subscriber to The Economist, you have full access to all our shows as part of your subscription.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.
Money Talks: The future of crypto, part one
40:28In downtown Manhattan, what is perhaps the biggest event in the history of crypto is playing out: the trial of Sam Bankman-Fried. SBF, as he’s known, is accused of masterminding a fraud that left $8bn in customer funds missing; he has pleaded not guilty. This week, we hear from author Michael Lewis, who was there for the rise and fall of SBF’s crypto empire. Next week, we speak to the man who wants to take his crown.Hosts: Tom Lee-Devlin, Mike Bird and Alice Fulwood. Guests: Michael Lewis.Sign up for Economist Podcasts+ now and get 50% off your subscription with our limited time offer. You will not be charged until Economist Podcasts+ launches.If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription.For more information about Economist Podcasts+, including how to get access, please visit our FAQs page.