U.S. and E.U. countries have unveiled extraordinarily tough sanctions against Russia over its invasion of Ukraine. But what effect will they have? Are they tough enough? And will Russia feel a significant amount of pain as long as the sanctions don't include energy? On this episode, we speak with sanctions researcher Edoardo Saravalle about the existing sanctions, their power, what more can be done, and what history says about how they will work.See omnystudio.com/listener for privacy information.

Even prior to Russia's attack on Ukraine, the global economy was facing an extraordinary moment. Now things have become massively more complex. In addition to the attack itself, rich Western governments have unveiled historically powerful sanctions against Russia, most notably by freezing much of the country's FX reserves. So what are the immediate and long term ramifications? On this episode, we speak with Credit Suisse short-term interest rate strategist Zoltan Pozsar on what this all means, how the Fed will react, why gold is important again, and how could this mark a turning point for the global dominance of the US dollar. See omnystudio.com/listener for privacy information.

Some truckers make good money and have a high degree of control of their schedule. Others work for low pay under exceptionally difficult conditions. Port truckers, in particular, have dealt with poor pay, high debts, wage theft, and other difficult conditions. But an effort is being made to organize for a better situation. On this episode, we speak with Ron Herrera, Director of the Teamsters Port Division, on the union's efforts, as well as how it fits into broader supply chain stress.See omnystudio.com/listener for privacy information.

GDP is booming. The labor market is booming. However inflation is elevated, and consumer sentiment is deeply depressed. So where does the White House go next with its economic strategy? On this episode, we speak with Brian Deese, the director of the National Economic Council under President Joe Biden. Deese walks us through what the White House has done over the last year on supply chains, what's working, and where the administration is going next with its economic agenda.See omnystudio.com/listener for privacy information.

The price of oil has surged over the last year, and U.S. oil companies are making money hand over first. In theory, the high prices should stabilize as more drilling is done. But so far, the supply response has only been modest. After years in which U.S. oil companies (shale players, in particular) lit money on fire by expanding production at all costs, the industry is reluctant to invest in new production. So what will it take? On this episode, we speak with Rory Johnston, Managing Director and Market Economist at Price Street and the author of the Commodity Context newsletter, to get a better understanding of the factors moving oil prices, and what it will take to bring them down.See omnystudio.com/listener for privacy information.

It's been a terrible few months for growth stocks. Small, unprofitable tech companies have crashed. SPACs have gotten crushed. Recent IPOs got crushed. And even the FANGs are way off their old highs. Of course, we don't have very much visibility into what's happening in private markets, so we only have anecdotes and inferences. But what's the big story? And is this the start of a big change? On this episode, we speak to Howard Lindzon, a GP at Social Leverage and the co-founder of Stocktwits, to get a sense of what's really going on. Howard launched a SPAC last year, does public market stock investing, as well as private VC investing, so he really knows the whole space very well. He discusses multiple reasons why tech turned rapidly, and why it might be awhile before it all bounces back.See omnystudio.com/listener for privacy information.

As inflation data continues to come in hotter than expected, pressure on the Fed is ramping up big time. Traders are betting on more and more hikes, with a distinct possibility of a 50 basis point hike in March. So the question is, can the Fed hike in such a way that it tamps down inflation while not causing a recession? On this episode we speak with economist Tim Duy of SGH Macro Advisors and the University of Oregon, on the huge challenge facing the Fed this year.See omnystudio.com/listener for privacy information.

The book “Liar's Poker” came out in 1989. Its depiction of Wall Street culture — obnoxious, crude, drunk on risk — may seem very different to today's big bank trading floors. Nonetheless, the book is still a popular read. In some places, interns are even assigned to read it. So why the enduring appeal? And what are the lessons from the book, over 30 years since its release? On this episode, we speak with its author Michael Lewis, who recently recorded an audio version of the book, while also doing a short companion podcast. He reflects on his latest rereading of it, and what it means today.See omnystudio.com/listener for privacy information.

We're in a period of elevated inflation right now. But at least there's some good news: The price of nails is lower than it was in 1695. But how do we know what the price of nails was back then? And what can such a long-term look tell us about innovation in such a seemingly simple product? To learn more, we spoke with Dan Sichel, an economist at Wellesley College, who has recently published a paper on exactly this topic. We discussed how he did it and his overall approach to the project.See omnystudio.com/listener for privacy information.

Obviously, there's been a tremendous amount of volatility in crypto lately. But what has been the effect on people who are deeply involved in the space? On this episode, we speak with Eva Beylin, who knows crypto as both an investor and a builder. As an investor, she's part of the amorphous investment collective known as eGirl Capital, which features numerous crypto anons who only know each other by their avatars. On the building side, she's the director of The Graph Foundation, which is aiming to be the Google of the blockchain. She talks to us about both projects and what things look like in this current moment.See omnystudio.com/listener for privacy information.