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The U.S. implemented a naval blockade on Iran earlier this week. Laleh Khalili, a professor of Gulf studies who researches the shipping and logistics industry and its impact on the global economy says it could lead the U.S. military to begin “firing on ships that it assumes are Iranian or carrying oil from Iran or other cargo to Iran.” Iran, in response, could “interpret this as a belligerent action,” ending the fragile ceasefire agreed to by both parties. “Iran is going to defend itself against this imperial imposition, and how it's going to do that remains to be seen.”

Meanwhile, explains Khalili, shipping disruptions in the Gulf have affected the supply chains of key resources including oil, aluminum, helium and fertilizer. "Transportation costs are going to be higher, so food prices are going to be higher; people's MRIs are going to be scheduled out by six months … semiconductor manufacturing is going to be affected," Khalili says. "The crisis is only going to get more horrific before it gets any better."

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There are growing signs that the United States may be on the verge of another major financial crisis, one that could start in the $3 trillion private credit market, which is already seeing significant turmoil, before spreading to other sectors.

Geopolitical Economy Report editor Ben Norton interviewed economist Michael Hudson to discuss the serious problems on Wall Street. Hudson warned that the US economy is built on a Ponzi scheme that depends on continuing to pour money into a bloated, bubbly financial system based on unsustainable speculation, not industrial production.

Check out our related short video about the private credit crisis on Wall Street: https://www.youtube.com/watch?v=S1cx9Zk6WZk

Topics
0:00 Introduction
1:37 Highlights of Michael Hudson
3:29 Interview starts
4:18 2008 financial crisis
5:04 Zero interest-rate policy (ZIRP)
7:31 Private equity
9:17 Lack of investment
10:34 Wealth inequality
12:08 Debt defaults
14:10 Depression fears
16:12 US govt supports Wall Street
19:07 Ponzi schemes
23:51 US economic problems
27:35 Iran war impact
30:16 Financialization of economy
33:46 Outro

|| Geopolitical Economy Report ||

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Pan African Youth empowerment summit in Burkina Faso , Afro descendants The ADDI Dr Erikana Chihombori among others hard were the first to received their residence permit in Burkina Faso by captain Ibrahim TRAORE government.

Burkina faso minuster Bassolma Bazié speech is going viral!


#ecowas #motivationalspeech #motivationalvideo

My goal for Ghana was/is to simply live and experience life, not as a tourist (as much as that is possible). The weekend gave me a nice dose of that!
Take a listen to my story and share your thoughts below!

More about me: https://sociatap.com/TryphenaWade
Check me out on IG: / tryphena_wade


#tryphenawade #globetrotter #travel #ghana #encouragement #lifelessons #restoration #christian #humility #accra #kumasi