How the Iran War Will Cause a Global Financial Crisis (Yanis Varoufakis) | The Chris Hedges Report

The podcast analyzes the economic, political, and military consequences of a potential war with Iran, particularly focusing on the global economic fallout. Yanis Varoufakis, former Minister of Finance for Greece, joins the discussion, comparing the potential crisis to "Liberation Day" and highlighting key differences. He argues that unlike the transient effects of previous tariff escalations, this war will have lasting impacts due to inelastic demand for gas, the energy-intensive nature of AI, and central banks' responses. The discussion further explores the uneven effects across different regions, including the US, Europe, and the Global South, and the potential for rising authoritarianism as governments grapple with the crisis. Varoufakis suggests stagflation is more likely than hyperinflation.