Richard Wolff & Michael Hudson: US Dominance Is Crumbling… Here’s Why Iran Matters

Dialogue Works · Mar 25, 2026 · 1h 7m

Escalating US-Iran conflict analyzed: military strategy, Iran's decentralized defenses & decoy tactics vs. precision strikes. Strait of Hormuz closure risks disrupting 20% of global oil, triggering worldwide economic crisis. Explores potential Russian/Chinese support for Iran—mirroring Western aid to Ukraine—and escalation risks toward broader global confrontation. Historical parallels drawn to WWI/WWII aftermaths and potential restructuring of international institutions. Economic fallout discussed: stagflation, energy shortages, deindustrialization in Europe, and US fiscal strain from…