Richard D. Wolff & Michael Hudson: Iran Just Flipped the Script on the U.S. -Global Crisis Incoming?

Experts analyze escalating US-Iran tensions and global repercussions: oil facility attacks, Strait of Hormuz risks, and energy market volatility. Key themes include sanctions producing unintended consequences, petrodollar system vulnerabilities, and allies questioning US military protection. Economic concerns feature rising energy prices, inflation pressures, and debt-financed warfare. Geopolitical shifts highlight BRICS expansion, de-dollarization trends, and European allies reassessing strategic alignment. Iran's stated objective—US withdrawal from the Middle East—frames broader debates on hegemonic decline and multipolar economic warfare. Analysis warns prolonged conflict could destabilize the global economy as diplomatic solutions remain elusive, while financial markets grapple with uncertainty over interest rates, sovereign debt, and the future of dollar-denominated trade.

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