This Andrew Yang Podcast episode features economics blogger Noah Smith discussing the potential long-term damage to the US economy and global relationships caused by the Trump administration's policies, particularly tariffs. Smith argues that these actions are breaking things we'll never be able to get back, dismantling an economic structure built over decades. He expresses concern about the stability of the US bond market, likening it to a sleeping dragon, and warns that if confidence in US debt erodes, rising interest rates and potential capital flight could have severe consequences, including stagflation and a loss of American purchasing power. Smith advocates for raising income taxes and cutting spending, particularly in service industries, as necessary steps to address the unsustainable national debt.