On finance, real estate and the powers of neoliberalism
Michael Hudson joins Professor Lau Kin Chi for the South South Dialogue on Sustainability to discuss the Iran war, the Strait of Hormuz, de-dollarisation, oil prices, debt moratoriums and the deepening global economic crisis. Hudson argues that Iran won the immediate military battle, while the wider conflict is a world war over US control of oil, military bases, dollar reserves and the global financial order.
Michael Hudson and Radhika Desai argue that the Iran war has exposed the limits of US military, financial and oil power. They examine how rising oil prices, dollar fragility, central bank policy and global moves away from US financial control are accelerating the shift towards a post-US economic order.
https://www.youtube.com/watch?v=67SDkp9xuao Nima Alkhorshid: Hi, everybody. Today is Thursday, June 11th, 2026, and our dear friends, Richard Wolff and Michael Hudson, are here with us. Welcome back, Richard. Mike. Michael Hudson: Good to be here right now. And what an important time. Nima Alkhorshid: Yeah, exactly. What has happened last night was a confrontation between the United States and Iran. The United States decides to attack Iran. The attacks were basically in some two islands: Sirri Island and Qeshm Island, in the Persian Gulf, close to the Strait of Hormuz. And then we had the attack in one of the cities close to the capital of Iran, Karaj, two strikes in that city. And the other part, one of the important outcomes of this, the highlights of the attack, American attack, was they were trying ...
Michael Hudson and Richard Wolff argue that the struggle over the Strait of Hormuz marks a turning point in the decline of US imperial control. The discussion links Iran, oil, BRICS, development economics and the need for a new international economic order beyond dollar-centred dominance.
Michael Hudson argues that America’s oil war reflects a deeper pathology in US foreign policy: the rejection of sovereignty, reciprocity and international law in favour of coercive control over oil, debt, finance and trade. He introduces the terms geopathology and econopathology to describe the imperial and economic doctrines driving today’s global fracture.
Wolff and Hudson on Iran, the Strait of Hormuz, and why no deal with the US is possible — as Western colonialism enters its final, most dangerous phase.
Michael Hudson and Kathleen Tyson discuss why the post-dollar world is not likely to be built around a single BRICS currency, but through local currency trade, gold settlement, barter, renminbi debt restructuring and new payment systems that reduce dependence on the weaponised dollar system.
https://www.youtube.com/watch?v=M34VVvRB0uY 05.29.2026 Glenn Diesen: Welcome back to the program. We are joined today by Professor Michael Hudson to discuss how the Iran war is affecting the global economy. I heard from some people that while the energy prices are high, that the U.S. could actually benefit from this because then they would have to pay more money for American energy. This would also mean that they would have to pay in dollars, so it would strengthen the petrodollar. On the other hand, I can't help but think that this doesn't sound very sustainable. That is, with war energy shortages, it would trigger more of a global depression. So I just wanted to get, I guess, your overall view on this, how you see the Iran war affecting the economy. Michael Hudson: I'm glad ...
