How the War With Iran Will Trigger a Global Financial Crisis (w/ Yanis Varoufakis) | The Chris Hedges Report

As the U.S.-Israel and Iran War enters its second week, American and Israeli strategy becomes increasingly opaque, while Iran’s resolve hardens. Professor John Mearsheimer, a renowned voice in international politics, joins host Chris Hedges again on this episode of The Chris Hedges Report to spell out what can be expected from the conflict.

Mearsheimer chronicles everything that is known about the war so far, from Benjamin Netanyahu’s victory in convincing an American president to finally launch this long-awaited attack on Iran to the reluctance within Trump’s own cabinet to go through with it. Mearsheimer also spells out the major implications this conflict has on the whole of the world economy; with Iran closing the Strait of Hormuz, countries in East Asia such as South Korea and Japan as well as the whole of Europe will suffer.

“You could have a worldwide depression. You could have something less than that, like a worldwide recession, that would have huge consequences for people all over the planet, especially in developing countries, less so in developed countries. But even in developed countries, it’s quite clear that the importance of oil for running the international economy simply can’t be underestimated,” Mearsheimer tells Hedges.