This episode of the "How to Money" podcast interviews economist Noah Smith about macroeconomics and its impact on personal finance. The conversation covers Smith's Substack, his views on economic philosophy, key economic indicators to watch (five-year break-even inflation rate and prime-age employment-to-population ratio), the effects of tariffs and policy uncertainty, and the challenges of declining birth rates and rising healthcare costs. Smith argues that while the US economy is fundamentally strong, significant government debt and unsustainable welfare spending pose major challenges. He suggests that targeted industrial policies alongside fiscal responsibility are necessary to address these issues.
