Becker Business with Scott Becker: "Intel Surges, Markets Rebound, & the Economy Grows"

Date: January 22, 2026
Host: Scott Becker

Episode Overview

In this episode, Scott Becker delivers a concise update on three major business news themes as of January 2026: Intel’s dramatic stock surge and turnaround, the markets’ rapid rebound after political turbulence, and the recent robust growth of the U.S. economy. He also shares candid insights on how deficit spending might be underpinning reported growth.

Key Discussion Points & Insights

1. Intel's Remarkable Turnaround

[00:17] - [01:10]

• Intel hailed as the "great turnaround story of 2025-2026," with their stock up 47% year-to-date.

• A few years back, Intel was "all but left for dead as commodity chip player," but now it's "just on fire."

• Caveat around timing: Intel's earnings were scheduled for release after market close on the same day, and results could impact the rally.

  Notable Quote:

  "So far, Intel surging, Intel on fire is really one of the big stories of the year so far."
  — Scott Becker (00:43)

2. Markets Reacting to Political & Economic Developments

[01:10] - [02:27]

• Early-week market swoon was triggered by President Trump's "noise about European tariffs" and issues "about Greenland."

• Political anxiety faded as the administration signaled progress on a minerals and mining deal with Greenland, easing tension with Europe.

• Becker notes Greenland’s complexity, with America seeking access to critical rare minerals for national security and technological competitiveness.

• The larger context: Ongoing U.S. attempts for greater Arctic presence, consistent across several administrations.

• Tone on Trump: Not the first president to prioritize Greenland, but perhaps "more the way that President Trump goes about it that's concerning."

  Notable Quote:

  "Greenland is really complicated because the US perspective is we need access to some of those rear minerals. It's a control over the Arctic and that Russia and China are cleaning our clock in terms of rare minerals, particularly China and Arctic control. And that's what this is a lot about."
  — Scott Becker (01:42)

3. Strong GDP Growth—But Is It Sustainable?

[02:27] - [03:39]

• U.S. GDP grew at an "astonishing" 4.4% annualized rate in Q3—the highest in several years.
• Becker tempers enthusiasm, pointing out much of the growth is "driven by deficit spending."
• Critique applies across both Democratic and Republican administrations:

  "If your deficit spending at 7 to 8%, but you're getting less than half that in growth... you're not really winning the growth game. You're just sort of artificially inflating the growth."
  — Scott Becker (03:18)

• Becker views the boom as "partially artificial growth" due to reliance on federal deficits.

Notable Quotes & Memorable Moments

• On Intel's comeback:
  "A couple years ago the company was all but left for dead as a commodity chip player and now it's just on fire." (00:27)

• On U.S. strategy in Greenland:
  "Trump is the fourth president in the last 50 years that has seen the need for greater strength in Greenland. So it's not a new concept. It's probably more the way that President Trump goes about it that's concerning." (02:08)

• On deficit spending and economic growth:
  "Even under a Republican administration, there was plenty of deficit spending to go around, and that is partially what's driving the growth in the economy." (03:27)

Important Timestamps

• [00:17] — Start of Intel turnaround discussion
• [01:10] — Markets react to Trump’s tariff threats and Greenland talks
• [01:42] — Deep dive into U.S. motives in Greenland and rare minerals
• [02:27] — GDP growth and the role of deficit spending
• [03:27] — Critical reflection on administration spending and growth

Tone & Language

Scott Becker presents his analysis in a direct, conversational tone, using succinct explanations blended with industry insights. His commentary balances data points with personal perspective, reflecting both appreciation for business successes and healthy skepticism of economic reports.

Summary Prepared for listeners wanting a quick yet thorough take on the latest business headlines impacting markets and the economy, directly from Scott Becker's expertise and point of view.