Fiscal Dominance, the War in Ukraine's Actual Cost, and Fact Checking Rich Men North of Richmond

"Econ 102" with Noah Smith and Erik Torenberg

Noah Smith and Erik Torenberg discuss how today’s economy compares to the Reagan-era, cheap oil geopolitics, how much the war in Ukraine is actually costing the US, and the economics of the populist anthem Rich Men North of Richmond. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/102

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

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Timestamps:

(01:13) What would a better US economy look like?

(05:59) Debt gets inflated away

(09:02) Fiscal Dominance

(09:59) Age of cheap oil

(19:05) Noah vs. Balaji Srinivasan’s bearish case that the US financial system is vulnerable.

(27:25) How the Reagan Era Compares to Today

(32:28) Economic attribution for presidents

(43:12) The surplus war in Ukraine

(49:05) Fact checking the economics of Rich Men North of Richmond

(57:47) Is the age of the nerd over?

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [e-mail].