Expensive energy is an economic, psychological, and political scourge. Nominally, gas prices are at a record high. Adjusted for inflation, they could break the all-time record if they rise just another 35 cents. We should be desperately curious to solve this problem; so, that’s what this episode is all about. Today’s guest is Skanda Amarnath, the executive director at Employ America, which has quickly become one of my very favorite sources of research and commentary on economics. He is also the ...
Jun 21, 2022•48 min•Season 1Ep. 63
Most news is all about the immediate present. For instance, everything that is happening in the economy right now could be a historical anecdote in five years. But sometimes, norms change—and they stay changed for decades. I think the remote work revolution is just that sort of a paradigm shift. Here's a stat that should blow your mind: Office occupancy across the U.S. is still just 43 percent of its pre-pandemic high. That means that white-collar offices have had a worse recovery than basically...
Jun 17, 2022•51 min•Season 1Ep. 62
This is a huge week for economic and finance news. On Wednesday afternoon, the Federal Reserve raised interest rates by 0.75 percentage points, its biggest move since 1994. Derek breaks down what this means for your wallet and the future of the economy. Then he brings on The New York Times' Kevin Roose for a conversation about the end of the "everything boom." For the last decade-plus, just about every asset class has gone to the moon: stocks, housing, crypto. That era is over. But where did the...
Jun 15, 2022•43 min•Season 1Ep. 61
Inflation is the story that everybody keeps missing. In 2020, many people didn't expect inflation to rise. Wrong. In 2021, many expected inflation to be brief or "transitory." Wrong. Last month, many expected inflation to peak. wrong. In May, inflation reached its highest level in more than four decades. But there’s a bigger story to tell here. What are the subtler inflation numbers telling us about the future of the economy? And is the media being too pessimistic about the economy given how str...
Jun 13, 2022•52 min•Season 1Ep. 60
Today’s episode is about two California elections and the message they sent to the rest of the country. In San Francisco, progressive district attorney Chesa Boudin was recalled by voters after years of complaints about the rise of disorder, shoplifting, and homelessness in the city. In Los Angeles, Republican-turned-Democrat billionaire Rick Caruso had a strong showing running as a crimefighter in the L.A. mayoral primary. In the late 1970s, politics was defined by two topics: crime and inflati...
Jun 10, 2022•43 min•Season 1Ep. 59
Welcome to Curiosity Corner! In our first ever all-mailbag episode, Derek answers a Republican’s question about gun control, explains how American companies became so political, revisits a controversial Amber Heard episode, and explains how the podcast comes together. Finally, in response to a couple that requested a wedding-day video, Derek veers out of the news lane and offers some relationship advice. If you’d like your questions answered on this show, send your first name and city or state t...
Jun 07, 2022•37 min•Season 1Ep. 58
The Texas school shooting is part of a grisly ritual in American life. A tragedy, followed by mourning, followed by inaction, followed by several months, followed by another tragedy. What can be done? What WILL be done? This episode isn’t about false hope. It’s about information. The New York Times’s German Lopez, who has been reporting on guns and gun control policy for many years, joins the podcast to answer as many questions as we can fit into a show, including: Why are school shootings becom...
May 26, 2022•49 min•Season 1Ep. 57
It's our first Curiosity Corner podcast! We asked you to tell us what questions you wanted us to answer, and a lot of you had the same thought on your mind: housing. In this podcast, we answer: What's going on with the U.S. housing market? Is this a bubble? Is it bursting? Why are homes in America so expensive? Why are we so bad at building houses? Why is there so much homelessness in America's richest cities? The Atlantic's Jerusalem Demsas comes on the show to share her theories with Derek, an...
May 24, 2022•56 min•Season 1Ep. 56
It's the trial of the century—kind of. The legal showdown between Johnny Depp and Amber Heard has captivated the country, and Derek is a bit confused. Why is everybody talking about this miserable celebrity relationship? Why are so many people obsessed with demonizing Amber Heard? Producer Devon Manze explains to Derek why she thinks the trial has conquered the news cycle, and The Atlantic's Kaitlyn Tiffany explains why the internet hates Amber, and what it says about the future of truth, fandom...
May 20, 2022•42 min•Season 1Ep. 55
America's infant formula shortage is very strange and very embarrassing. Nationwide, more than 40 percent of formula is out of stock, and in many states, like Texas and Tennessee, more than half of it is gone. What's going on? The immediate cause is the shutdown of a Michigan plant. But shutdowns and recalls happen all the time, and they rarely cause a national crisis like this. Economist Scott Lincicome says the real culprit lies in America's trade and regulatory policy. He explains how we got ...
May 18, 2022•47 min•Season 1Ep. 54
Crypto crashes, rate hikes, recession, fears, and inflation prints: The U.S. economy is in a very bizarre place right now, and Derek needs help explaining it. Michael Batnick and Ben Carlson of Ritholz Wealth Management are back on the pod to reconvene the economic roundtable. We play a game of "Finish the Sentence": The single most shocking stock market stat is …? The long-term bull case for crypto is ... ? The worst sign for the US economy is … ? The BEST sign about the US economy is …? If you...
May 17, 2022•55 min•Season 1Ep. 53
The stock market is absolutely gross right now. Everything is down, except (as loyal listeners know) the CATAN portfolio. Crypto has cratered, growth stocks have been ravaged, and hedge funds are imploding. Why is this happening? Is this Dot-Com Bubble 2.0? And what does it mean for the future of the U.S. economy, investing, and tech? Investor, entrepreneur, and podcaster Jason Calacanis joins the show. He gives us a brief history of the 21st century tech industry, explains why this is like and ...
May 11, 2022•54 min•Season 1Ep. 52
This might sound like a hot take but it's not: In 50 years, when historians look back on the crazy 2020s, they might point to advances in artificial intelligence as the most important long-term development of our time. We are building machines that can mimic human language, human creativity, and human thought. What will that mean for the future of work, morality, and economics? The bestselling author Steven Johnson joins the podcast to talk about the most exciting and scary ideas in artificial i...
May 10, 2022•1 hr 10 min•Season 1Ep. 51
Sometimes, people ask “why study history?” How about this: American history is the weapon being used to strike down Roe Vs Wade. In the leaked draft of the Supreme Court decision that would overturn Roe, conservative Justice Samuel Alito writes that Roe invented a right to abortion that cannot be found in early American history. Is he right? And what’s the true history of abortion in America? That’s the subject of today’s episode—a fast, factual guide to how we got to this moment, reviewing the ...
May 06, 2022•43 min•Season 1Ep. 50
The Supreme Court is poised to end the era of Roe. In a leaked draft of a majority opinion, Supreme Court Justice Samuel Alito struck down Roe v. Wade, the 1973 ruling that guaranteed constitutional protections of abortion rights. What would happen to abortion rights in its absence? Which states would shutter their clinics? Which states might expand protections? How does the growth of nationwide access to abortion pills fit into all of this? And why was the draft leaked in the first place? This ...
May 04, 2022•47 min•Season 1Ep. 49
Morgan Housel, author of 'The Psychology of Money' and a partner at Collaborative Fund, joins the show to play stock doctor and diagnose what's killing tech stocks. Then we debate the odds of an imminent recession and talk about how China's bizarre year could weigh on U.S. growth. Finally, we go through all the good reasons and the not-so-good reasons for cancelling student debt. Host: Derek Thompson Guest: Morgan Housel Producer: Devon Manze Learn more about your ad choices. Visit podcastchoice...
May 03, 2022•42 min•Season 1Ep. 48
This week we have the NFL draft, which is an annual exercise in failure. Every year, some NFL team makes a disastrous quarterback decision but also overlooks a potential star. Why is it so damn hard to predict QB play in football? Are scouts stupid, or is the future just unknowable, or is hiring fundamentally chaotic, or is there something specific about quarterbacking that makes it uniquely difficult to forecast? The economist David Berri joins to share his research on why scouts are terrible a...
Apr 29, 2022•38 min•Season 1Ep. 47
What can save Netflix? Who killed CNN+? What the hell is going on between Disney and Florida Governor Ron DeSantis? It's a big media hellscape roundup. Rich Greenfield, general partner at LightShed Ventures, forecasts a rocky future for streaming. Nick Papantonis, a reporter for WFTV in Orlando, explains that Florida's war against Disney might have some surprising collateral damage. Host: Derek Thompson Guests: Rich Greenfield and Nick Papantonis Producer: Devon Manze Learn more about your ad ch...
Apr 26, 2022•55 min•Season 1Ep. 46
Charlie Warzel, author of the Galaxy Brain newsletter at The Atlantic, joins to talk about what Elon Musk will do to Twitter and how his acquisition could change media, tech, and politics. Host: Derek Thompson Guest: Charlie Warzel Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices
Apr 26, 2022•43 min•Season 1Ep. 45
The United States is experiencing an extreme teenage mental-health crisis. It is one of the most troubling and fascinating social phenomena in the country today. From 2009 to 2021, the share of American high-school students who say they feel “persistent feelings of sadness or hopelessness” rose from 26 percent to 44 percent, according to a new CDC study. This is the highest level of teenage sadness ever recorded. Jonathan Haidt, a social psychologist at New York University, joins the podcast to ...
Apr 22, 2022•1 hr 4 min•Season 1Ep. 44
The White House has a big youth problem. Since the day of his inauguration, Joe Biden’s approval has declined by about 7 points among Americans over 50—and by an astonishing 19 points among Americans under 35. The pollster and politics writer Kristen Soltis Anderson joins the show to talk about Biden's eroding approval among young people and what it means for November. Then she and Derek talk about what liberals don't get about conservatives, why Democrats overrate the political power of Donald ...
Apr 19, 2022•52 min•Season 1Ep. 43
What’s happening in China’s largest and richest city right now is quite unbelievable. Shanghai is now several weeks into a government lockdown to stop the spread of COVID variants. In a metro with roughly the population of the state of Texas, residents cannot go outside. They cannot walk to grocery stores or pharmacies to pick up essential medicine. If they test positive for COVID, they are removed from their families and taken to quarantine facilities, where conditions are reportedly hellish. A...
Apr 15, 2022•48 min•Season 1Ep. 42
Well, that escalated quickly. Days after Elon Musk become the single largest individual shareholder of Twitter, he has offered to buy the company and take it private. Wait, what? Derek welcomes Stratechery writer Ben Thompson (no relation) to break down the news. Ben explains why Twitter is one of the most important companies in the world, why it's so undervalued, and what Musk could do with it privately. Then we make some predictions. Host: Derek Thompson Guest: Ben Thompson Producer: Devon Man...
Apr 14, 2022•32 min•Season 1Ep. 41
On today's show, we start with Ten Good Minutes on the extremely funny and very chaotic saga of Elon Musk vs. Twitter. Last week, Musk bought enough Twitter shares to become the company's largest individual shareholder. Then, Twitter announced that Musk would become a board member. Then, Musk tweeted a bunch of embarrassing things about Twitter, suggesting the platform was "dying" and that its headquarters should be converted into a homeless shelter. Then, Twitter announced that Musk would not b...
Apr 12, 2022•1 hr•Season 1Ep. 40
There is an epidemic of bad behavior sweeping the country. In 2020, homicides increased by a record-high rate. Last year, pedestrian and vehicular deaths went up by a record-high rate. There have been more attacks in hospitals, schools, and stadiums and more unruly airline passengers than any time on record. What on Earth is going on? Today’s guest is Olga Khazan, a staff writer at The Atlantic. She and Derek talk about how America lost its damn mind and review the most obvious and most interest...
Apr 08, 2022•44 min•Season 1Ep. 39
America has never grown at a slower pace than right now. Not only have deaths soared in the pandemic, but immigration is falling and our birth rate is near a record low, as well. Why is this happening? And why is population growth so great, anyway? Today’s guest is Matthew Yglesias, the author of the Slow Boring newsletter and the book 'One Billion Americans.' In this episode, we talk about why politicians won’t prioritize family policy and immigration in D.C.; why population growth is good for ...
Apr 05, 2022•49 min•Season 1Ep. 38
This week, the Washington Post reported that Facebook’s parent company Meta has been paying a Republican consulting firm to slime the reputation of its social media rival TikTok. According to emails shared between Meta and Targeted Victory, Facebook sought to blame TikTok for viral hoaxes that actually started on Facebook and then urged various journalists and politicians to amplify these hoaxes. Today’s guests are the journalists who broke the story: Taylor Lorenz and Drew Harwell. They explain...
Apr 01, 2022•35 min•Season 1Ep. 37
On Monday, Florida Governor Ron DeSantis signed legislation that prohibits much classroom instruction about sexual orientation and gender identity. The law is called “Parental Rights in Education,” but its critics—which include Democrats, Hollywood, and many outspoken employees of the Walt Disney Company—call it “Don’t Say Gay.” What does the law actually say? And how has it created a firestorm at Disney? In this episode, Derek talks to Dana Goldstein, a New York Times reporter, about the detail...
Mar 29, 2022•48 min•Season 1Ep. 36
Derek talks to The Atlantic’s Anne Applebaum about Zelensky’s global appeal, the roots of Putin's lust for empire, and Ukraine’s prospects for victory. Host: Derek Thompson Guest: Anne Applebaum Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices
Mar 25, 2022•43 min•Season 1Ep. 35
Economic crises are piling up. U.S. inflation was surging before Russia invaded Ukraine. Since the war began, commodity prices have spiked, with gas screaming toward $5 a gallon. And now China is facing a new COVID wave. What is happening, and how will it end? Jason Furman, chief economic adviser to the Obama administration and professor of economics at Harvard University, is back on the pod to answer our burning economic questions, like, “Are we headed back to the 1970s?” Host: Derek Thompson G...
Mar 22, 2022•45 min•Season 1Ep. 34
