Every few years, weather nerds and agriculture analysts will talk about an upcoming El Niño, and then they mostly pass by with relatively few headlines. But sometimes El Niños end up being massively destabilizing -- leading to devastating droughts, flooding, and other catastrophes. And this year's emerging El Niño could end up being one of the big ones, with forecasters predicting record-breaking intensity. But what exactly is an El Niño, and what does it mean that this year's could be so big? On this episode we speak with Justin Mankin, professor of geography at Dartmouth and director of the Climate Modeling and Impacts Group. We discuss the forecasting of El Niños, and why they can lead to large and long-lasting economic damage. Chapters: 00:00:00 - Cold Open 00:02:06 - El Niño in Financial Markets 00:04:53 - What is El Niño? - Scientific Explanation 00:10:01 - El Niño Drivers and Patterns 00:13:26 - Current El Niño Forecast 00:16:32 - Historical Discovery of El Niño 00:20:02 - Measuring El Niño Strength 00:24:03 - Timing and Agricultural Impacts 00:28:25 - Economic Cost Research Methodology 00:35:37 - Permanent vs. Temporary Economic Impacts 00:40:10 - Climate-Economy Endogeneity 00:41:40 - Future Adaptation Challenges 00:47:22 - Adaptation Strategies 00:50:56 - Methodological Defense 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