Richard D. Wolff & Michael Hudson: Oil Markets on Edge: Persian Gulf & Red Sea Threat Intensifies

Experts analyze Trump's State of the Union as political theater focused on tariffs—regressive taxes paid by US consumers, not foreign nations. Discussion covers Supreme Court rulings, corporate refund lawsuits, and proposals to replace progressive income tax with tariff revenue. Foreign policy: Iran negotiations, public opposition to war, oil price risks, and Ukraine as a weapons-testing arena. Examines how Cold War narratives justify militarization and social spending cuts, plus the growing Russia-China economic alliance and European political fragmentation. Historical perspective: government investment drove Western industrialization—policies China now employs successfully. Reflects on rising inequality, tax structures favoring wealth, and enduring questions about building economies that prioritize people over profit. A critical look at current policies, forgotten historical lessons, and alternative paths forward in an era of geopolitical shift and economic transformation.

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