In today’s episode, Noah Smith and Erik Torenberg respond to pressing questions on US inflation, the possibility of the US becoming a petro-state, global trade dynamics in the context of geopolitical shifts, the potential impacts of de-dollarization, and the sustainability of defense strategies. They also cover the impact of recent wars, and discuss India and Japan. Thanks to all the listeners who continue to send in their questions!

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj--Recommended Podcast: Company BreakdownsEach episode of Company Breakdowns dives into S-1s and series B-and-beyond companies, interviewing founders and investors to break down the companies. First episodes are on Reddit, Twilio, Klaviyo and Rubrik.Spotify: https://open.spotify.com/show/0epyYBAxLeF0PsNagdDJAJApple: https://podcasts.apple.com/us/podcast/company-breakdowns/id1743119197--SPONSORS: BEEHIIVHead to Beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 https://beehiiv.com and use code "MOZ" for 20% off your first three months_SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]_LINKS:Noahpinion: https://www.noahpinion.blog/--TIMESTAMPS:(00:00) Intro(01:45) Exploring Biden's influence on inflation and policy suggestions(05:21) Inflation's impact on national debt(09:34) Role of industrial policy in inflation dynamics(15:47) Is the U.S. Becoming a Petro State?(17:28) Sponsor: Beehiiv(18:39) Discussing federal reserve's balance sheet and monetary policy(23:49) Student loan forgiveness and tariffs(25:38) WTO's role in trade disputes(28:23) Rethinking global trade rules(31:28) Trade agreements and military alliances(32:35) China and Russia: Trade relations and aggressiveness(33:28) China’s capital inflow tax(40:13) India's political landscape and Modi's impact(50:10) Reassessing U.S. military interventions: Vietnam, Afghanistan, and Iraq(53:44) Role of conventional forces in preventing nuclear war(56:46) Japan's currency intervention(57:47) Invitation to Lithuania(58:10) Wrap