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…
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