IRAN’S KNOCKOUT BLOW: Prof. Steve Hanke on Looming Economic Disaster as Strait of Hormuz Stays Shut

On this episode of Going Underground, we speak to Prof. Steve Hanke, Professor of Applied Economics at Johns Hopkins University. He discusses why Russia continues to be a winner economically as the Strait of Hormuz remains shut after the US-Israeli war on Iran, the looming full ramifications of the energy crisis that will hit in August resulting in skyrocketing energy prices, why Europe must lift sanctions on Russia to escape the dire economic situation, why the US and Israel’s miscalculations in launching a war on Iran mean that Hormuz will remain shut, his predictions for the global economy this year as the economic crisis deepens, and much more. Chapters (00:00:00) - Going Undercover: The St. Petersburg Economic Forum(00:02:02) - Russia's strong ruble(00:05:33) - Oil Prices: Physical vs. Paper(00:14:31) - What Should Europe Do About Sanctions?(00:18:35) - Iran is like Muhammad Ali(00:22:53) - Growth outlook for the global economy(00:25:05) - Keynesian Militarism