Richard Wolff & Michael Hudson: BREAKING: Oil Tanker Ablaze in Gulf of Oman, SHIPS SINKING
Summary
Michael Hudson and Richard Wolfe analyze the escalating Strait of Hormuz crisis, arguing that the US lacks viable military options against Iran and is instead manipulating fuel markets to delay confrontation. They critique Trump’s trade deals with Russia and Europe as desperate attempts to suppress oil prices ahead of midterms, exposing Western economic decline. The hosts frame the conflict as the end of colonialism, noting that Europe’s pro-war stance and scapegoating of Russia mirror historical anti-Semitism as the Global South rises.
Topics discussed
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Ships and vessels hit in the Strait of Hormuz
US considers using MOAB against Iran
Trump-Russia energy deal and ceasefire status
Warnings on gravity bombs and electronic warfare
Vulnerability of slow aircraft to anti-aircraft fire
Discussion on trade effects and transition to analysis
Richard's view on US/Israel non-retaliation
US strategy of waiting and political constraints
Midterm elections and domestic political risks
Market denial and Trump's narrative of normalcy
Oil price manipulation and US consumer costs
Post-election oil price predictions
EU budget deficits and NATO spending mandates
Europe as the big loser in the oil crisis
Is Trump Putin's puppet? Russia's gains
Russian markup on Iranian oil exports
Democrats as the pro-war party
European leaders' stance on Russia and oil
Global competition for Persian Gulf oil access
Alliance with US and future oil market access
Lack of public support for war in Iran
Schumer's stance and the war's unpopularity
Demonizing Russia and colonial project myths
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West expanded East, not vice versa
US colonizing Europe and Mercantilism
US as the uni-empire and its decline
German leadership and BlackRock influence
European leaders as patsies and $700B investment
Tribute and NATO expense burden on Europe
Protests in France, Belgium, Italy, and Germany
Proposal to cancel 18% of French national debt
Redistribution of wealth to government creditors
Is the analysis obvious? Richard's clarity
Historical context: Carving up the Ottoman Empire
Russia's desire to end European rapprochement
Putin and Lavrov's views on European hatred
Russia turning East and Global Majority
Manufactured fantasy of European threat
US meddling in European labor and socialist parties
Right-wing parties less infiltrated by US
Civilizational fight and alternative to Western style
Tribute from foreign countries and deindustrialization
Danger of co-belligerency in Saudi Arabia
Scapegoating Russia and Democratic ambition
Historical parallels to anti-Semitism
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Replacing Semite with Slav as scapegoat
US colonial fantasies: Greenland and Panama
Carving up Russia and historical precedents
Superpower status and anti-colonial global south
Demonizing immigrants for surplus value
Risk of third world war and lessons of history
Russia building connectors to China, not Europe
Affluence as flowing in from without
Colonialism and making rest of world suppliers
Dual economy and self-reliance
End of 200-year dual economic relationship
US denial and real problems
Megalomania of colonial power and Strait of Trump
End of colonial world and anti-colonialism
Belgium and Congo wealth extraction example
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