About this episode

The episode discusses the impact of the US-Iran war on global shipping and the economy, featuring insights from Professor Richard Wolff.

A gas company just paid a record-breaking $5.3 million for its tanker ship to skip the Panama Canal’s long line, a line induced by the US-Iran war. Meanwhile the US fired on Iranian positions in the Strait of Hormuz. The US bond market is also in its worst state in 30 years. Professor Richard Wolff and producer Nicole Roussell unpack the state of today’s volatile global economy. Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com. Join the The Socialist Program community at http://www.patreon.com/thesocialistprogram to get exclusive content and help keep this show on the air.

People in this episode

Host: Nicole Roussell

Guest: Professor Richard Wolff

Topics covered

• US-Iran war
• global economy
• Panama Canal
• shipping delays
• bond market

Keywords

• Panama Canal
• US-Iran war
• global economy
• shipping fees
• bond market

Mentioned in this episode

Organizations: Democracy at Work

Places: Panama Canal, US, Iran, Strait of Hormuz

More episodes of The Socialist Program

• Why The New US ‘Total Economic War’ On Iran Will Fail · August 26, 2026 · 24 min
• ‘Operation Paperclip’: How Nazis Built the US War Machine [Socialist History: S1 Episode 5 Preview] · August 17, 2026 · 12 min
• The Iran War Is Choking Japan’s Economy · August 12, 2026 · 34 min
• Congress Just Subpoenaed BreakThrough News for Doing Journalism · July 24, 2026 · 31 min
• Trump Admin Won’t Prosecute Corporate Drug Traffickers · July 22, 2026 · 32 min

Explore listener stats, chart rankings, contacts and more on the The Socialist Program podcast page.