Steve Forbes: What's Ahead

The “second son” of a German manufacturing family, Hubertus Mühlhäuser has made a name for himself in his own right as the CEO of CNH Industrial, the second-largest agricultural manufacturer on the planet. A global citizen who speaks four languages, Mühlhäuser has lived and worked in China, Argentina, Switzerland, Germany and the United States. In this episode, Mühlhäuser shares his global perspective on pressing matters such as climate change and international trade, offers a peek into the exciting world of agricultural technology, and explains his views on creativity and collaboration in the workplace.

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According to Qualcomm CEO and self-proclaimed "gadget person" Steven Mollenkopf, there was a time when industry professionals doubted whether consumers would really use their mobile devices for anything other than placing phone calls. How wrong they were. These days we’re in the fourth generation of cellular broadband technology (4G), and the demand to stream video, use GPS and listen to podcasts on our smartphones grows higher every day. In this episode of What’s Ahead, join Steve as he talks to Mollenkopf about 5G—an expansion of data capabilities that could change how we interact with everything from our cars to our doctors.

Also, Steve looks to the week ahead with a focus on the US/China trade dispute, the Canadian elections, the Syria catastrophe, continued talk of a Trump Impeachment, the anticipated Barr report -- and lots of financial numbers that help to understand the state of the American economy. 

For Steve’s Read of the Week, he recommends three articles. They are: Joe Biden Isn’t Going To Make It by Dan Henninger, The Case For Free Trade Is A Unilateral One by Donald Boudreux and Mifsud’s Cell Phones Mean Barr Investigation Heating Up by Roger Simon.

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Disreputable. To the suspicious skeptics, that’s the word that described Charles Schwab’s idea of a discounted brokerage firm during the firm’s nascent days. Ironic, considering Schwab’s goal then (and now) was to help individuals do a better job of investing in order to be a part of what Schwab calls “the great growth of America.” In Schwab’s conversation with Steve, hear some of the stories featured in his recently published book, Invested: Changing Forever The Way Americans Invest, about the many personal and professional stumbling blocks he navigated along his path to incredible success building The Charles Schwab Corporation, one of the largest brokerage firms in the U.S. 

Steve also looks at the week ahead and speaks to a bunch of economic numbers, the upcoming democratic debate on Tuesday, October 15th, the travesty of Turkey’s abandonment of the Kurds and more on the trade deal with China and the China-NBA controversy.

Steve’s “Reads of the Week” consist of two articles and a google search. Just type in “Southpark apology to China” for a good laugh. And, the two articles are: Painting Zebra Stripes On Cows Wards Off Biting Flies  by Ross Pomeroy and The FDA’s Outdated Standards Make Shopping For Health Food More Confusing by Ross Marchand.

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For Melinda Gates, there’s never been a more critical time to call the world to action to break down system barriers for women. In her recent book, The Moment of Lift: How Empowering Women Changes the World, Gates shares enlightening data and personal stories from her work around the globe where she’s seen first-hand the power in challenging the status quo and dismantling pervasive gender inequities to advance society. Steve sat down with Melinda at The Executives’ Club of Chicago earlier this year to discuss why investing in women unlocks opportunity for all, her own struggles in finding her voice and achieving equality at home, as well as her lessons learned to incite lasting change. 

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First, Steve addresses impeachment, Israel’s election, Iran’s pain caused by financial sanctions, Brexit and what’s up with the Federal reserve pumping money into banks? 

Then, in part two of this series, Blackstone Group Cofounder & CEO Stephen Schwarzman discusses the firm’s growth into a global behemoth including a paradigm-shifting investment deal made with China — the first time the country ever invested in a private company. The self-made billionaire also details the prescient call he almost didn’t make to the Treasury Secretary on the brink of the 2008 financial crisis. Also, hear about his philanthropic work through the Schwarzman Scholarship, akin to the Rhodes Scholarship, which brings an international cohort of students to Beijing. This is the final episode in a two-part conversation.

Last, Steve’s “Read of the Week” consists of three articles: “Trump’s Fight With The ‘Globalists’” by Daniel Henninger, “Realities Of The Current Trade War” by Frank Hollenbeck and “The Limits Of Clean Energy” by Jason Hickel.

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First up, Steve shares his thoughts on a bunch of economic numbers coming out including residential housing prices, consumer confidence index and durable goods numbers. He also speaks to the upcoming United Nations meeting and the United Kingdom Supreme Court.

Then, with a personal net worth of over $18 billion dollars, venerable Wall Street titan and Blackstone Group Cofounder, Chair and CEO, Steve Schwarzman, has become the world’s most powerful financial leader. This hard-fought success is documented in his new book, What It Takes: Lessons In The Pursuit Of Excellence which details Schwarzman’s remarkable journey from not knowing the difference between a stock and a bond at his first Wall Street job to leading an investment firm that controls companies worth over $500 billion. One of the key takeaways? The person at the top of any organization should always be eager to learn—and to teach. Which is why he has created a uniquely successful culture at Blackstone aimed to help employees thrive. He’s also never hesitated to try to teach those who were ranked higher than him. For example, he told the dean of Harvard Business School during his time there that his organization was not well-run. In this episode, he shares with Steve his colorful path from working in his father’s local shop as a young boy to negotiating one of the biggest mergers in U.S. corporate history at the age of thirty. This is part one in a two-part conversation. 

Last, Steve's "Reads of the Week" are three articles. They are: “Antitrust Can’t Catch Big Tech” by Andy Kessler, "Don’t Ban Nontobacco Flavored ecigarettes. Adults are in more Danger than your Kids" by Sally Satel and ”Why Hasn’t Brexit Happened?" By Christopher Caldwell

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First up, Steve shares his thoughts on the central banks and trade.

Next, born to a struggling family in Cheyenne, Wyoming, Sol Trujillo, chairman of the Latino Donor Collaborative, has achieved great success. Across his career, he’s headed up major telecommunications companies in the U.S. and around the world. Trujillo points out the Latino community is starting more new businesses than any other group in this country and has incomes rising faster than the national average. As he tells Steve on the latest episode of “What’s Ahead,” Trujillo points out the economic growth potential for the Latino community and details the common-sense reforms that Trujillo says are needed in our immigration system to unlock the true potential of this community for the benefit of us all.

Lastly, Steve's "Reads of the Week" are two pieces. The first is by Burton Folsom, "How The Myth Of The Robber Barons Began And Why It Persists" and the second is by Steve, himself, "Pelosi's 'Medicare For All' Strategy Looks A lot Like A Big Wooden Horse".

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First up, Steve speaks to a myriad of economic markers to look for this week, Boris Johnson, interest rates and noise about China.

Then, accomplished economist, columnist and professor Mark Skousen calls for a new way to assess the health of the economy. While analysts traditionally look to gross domestic product (GDP) as the ultimate economic indicator, Skousen argues that its narrow focus obfuscates the real drivers of growth. Instead, he champions gross output (GO), which measures spending throughout the entire production process—not just the final output—as he believes it’s a far more comprehensive and accurate indicator of economic health. Hear Skousen dispel the popular Keynesian notion that consumer spending drives growth and why the U.S. may be on the path towards recession.

Lastly, Steve’s Reads of the Weeks are two articles. The first is by Angelo Codevilla, “What’s Russia To Us?" And by Robert B. Zoellick, “The Trade Wars Winners Don’t Include Us.”

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First up, Steve speaks to a myriad of topics including the upcoming Democratic debates, the White House battle with the Fed, why we should focus on export/import numbers instead of the trade deficit to determine global and national economic health and China’s talk about trade despite the crackdown in Hong Kong.

Then, prominent investing veteran, Stephen Auth, chief investment officer for Federated Investors, discusses the universal truths he’s learned on his unconventional journey to enlightenment on Wall Street and beyond. From going temporarily blind on a missionary trip in Mexico to bringing lapsed Catholics back to their faith on the hectic New York City streets, Auth shares what he’s learned about perseverance in the face of suffering, embracing humility and his journey to becoming a more compassionate leader. Hear Auth’s insight on the future of Catholicism and why a modern, business-minded approach is what’s needed to reform this 2,000 year old institution.

Lastly, Steve’s “Read Of The Week” are two articles. They are: My Childhood Schooling In the Soviet Union Was Better Than My Kids' In U.S. Public Schools Today by Katya Sedgwick and Discriminating Against Religious Schools by Inez Feltscher Stepman.

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First up, Steve speaks to an array of issues including the intensification of the conflict in Hong Kong, the Federal Reserve and consumer spending and confidence.

Then, Philip Howard, author of the new blockbuster book Try Common Sense: Replacing the Failed Ideologies of Right and Left, sits down with Steve to explain why the never-ending avalanche of literally millions of usually-unnecessary, nitpicking rules from Washington and local governments, since the 1960s, is undermining our democracy. Americans rightly feel they have lost control over so much of their lives and that elections don’t make much difference. Both parties are at fault. Howard then lays out the exciting remedies to get our country back in the hands of We the People. 

Lastly, Steve’s “Reads of the Weeks” consist of four articles. They are: "A Hundred Year Treasury? " by the Wall Street Journal editorial board, "Argentina Needs The Dollar” by Mary Anastasia O’Grady, “Europe Does Not Exist” by Josef Joffe and Steve celebrates the 100th birthday of his late father, Malcolm Forbes, with his piece “A Matchless Man”.

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