The war in Iran has been fought almost entirely in the skies, with both offensive missiles, as well as anti-missile defense systems. But the math is brutal. The war in Ukraine has already put a dent in American stockpiles, and now it is proving costly to protect American bases and their allies in the region against Iranian drones. On this episode, we speak with Tom Karako, a senior fellow and director of the Missile Defense Project at the Center for Strategic and International Studies, a top defense think tank in Washington DC. We discuss the size and scale of the American arsenal, the supply chain constraints for building more missiles, and the Pentagon's general attempts to ramp up production. Chapters: 00:00:00 - Cold Open: Missile Expenditure Concerns 00:01:12 - Introduction: Asymmetric Warfare and Supply Chains 00:04:27 - Guest Introduction 00:05:40 - Role of Defense Think Tanks 00:07:07 - Arsenal Transparency and Budget Analysis 00:08:43 - Missile Types and Technology Evolution 00:13:23 - Current Conflict Scale and Defense Success 00:13:35 - The "Scary" Expenditure Problem 00:18:55 - Procurement and Planning Process 00:19:16 - How US Can Ramp Up Production 00:24:04 - Physical Production Constraints 00:29:35 - Allied Dependencies and Delivery Challenges 00:33:22 - Cost Asymmetry Analysis 00:37:31 - Conflict Endpoints and Strategy 00:40:40 - Closing Thoughts Watch Bloomberg Vodcasts: https://www.youtube.com/playlist?list=PLe4PRejZgr0MS0Tqk_zQl1LVVTdWuH2Di Watch more Odd Lots episodes: https://www.youtube.com/playlist?list=PLe4PRejZgr0OJbRzA6nWybYiThLJd_ouz Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Join the conversation: discord.gg/oddlots Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots: https://youtube.com/playlist?list=PLe4PRejZgr0MuA6M0zkZyy-99-qc87wKV Get the Odd Lots newsletter: https://www.bloomberg.com/account/newsletters/oddlots And for all things Odd Lots, visit https://www.bloomberg.com/oddlots #Investing #Markets #Finance #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts For coverage on news, markets and more: http://www.bloomberg.com/video Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg