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Richard Wolff & Michael Hudson: Iran War Just BROKE the Global Economy & the US Empire
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Experts discuss US-Iran conflict escalation and global economic consequences. Critique of 'good vs bad' geopolitical framing amid potential oil market disruption. Analysis covers Iranian strategic responses, Hormuz tensions, and energy trade weaponization. Short-term market volatility contrasted with long-term structural shifts: de-dollarization, BRICS growth, and West Asian economic bloc emergence. Warning: US attempts to control global oil may accelerate Global South realignment, triggering worldwide crisis. Europe and Asia seek insulation from US policy volatility as dollar-dominated finance faces challenges. Rising energy costs could spark deflation abroad while creating inflationary pressures domestically, reshaping international trade for a post-Western economic order.
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