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Donald Trump knows Iran has won the war and is risking a global depression – Doug Bandow

Published 20 Jul, 2026 06:01
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On this episode of Going Underground, we speak to Doug Bandow. Former Special Assistant to Ronald Reagan and Senior Fellow at the Cato Institute. He discusses the risk of a global Great Depression following the resumption of the war on Iran and the looming prospect of a catastrophic energy shock in the US, why Donald Trump knows he must end the war on Iran quickly, whether the echo chamber of neocons around Trump can tell Trump he made a mistake by starting the war, the Gulf States’ view of the war on Iran and their defense against Iranian capabilities, whether Iran could already have a nuclear weapon, Trump’s potential pivot to Ukraine as the NATO-Russia proxy war continues to escalate, and much more.

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