Uploaded May 2026 | Updated September 2026, 2 weeks ago

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The ill-conceived US war on Iran is leading the world to a global recession or depression. Professor Richard Wolff places the current crisis in the context of the capitalist system and the decline of US hegemonic power.

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(0:00) Intro
(3:19) Supply chain damage
(10:58) Long term disruptions
(14:51) How will the ruling class respond?
(19:51) Food prices
(22:11) Declining empire
(27:10) Dollar hegemony
(32:19) Consequences of collapsing dollar
(37:06) How could this get bad?
(42:36) Flirting with global depression
(45:19) Outro