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Jun 4, 2026

Trump's War Consequences BLOW UP As Global Depression Deadline Revealed

Donald Trump's war with Iran blows up in his face as economists reveal the deadline for how long the Strait of Hormuz can be closed, which is only months away, before a catastrophic global depression will likely take over, while Trump continues to make more threats against Iran without getting a deal. Sharon Reed and Viviana Vigil break it down on The Damage Report. Leave a comment with your thoughts below!
  • 8 minutes
How do you define ceasefire? Pretty much the way it is, it's a different part of the world. I'd say in that part of the world, ceasefire is when you're shooting in a more moderate manner. No, ceasefire literally, [00:00:18] I mean, it's one of these things in school. They just say, go ahead, now say it out loud, ceasefire. You stop firing. But that's Donald Trump, he's gonna make up his own reasoning, his own definition for ceasefire because the current one doesn't seem to exist. There is another thing Trump is unclear of what Iran's agreed to apparently, which seems to be the [00:00:38] whole ballgame here in this whole war thing. Here he is being asked about Iran, apparently agreeing to letting us dig out nuclear material in the region. Here's what Trump said about that. dig out the buried nuclear material in- them. With them. Did Iran actually agree [00:01:02] to that? Well, it depends on what day you're talking about. They did agree, and then sometimes they agreed. just what I'm saying is one of the things we talk about. uh It's very overrated. I'm the one that overrated it. I thought to me it was important to other people. It's not [00:01:19] important. I don't know what he said there. And to quote him in that Biden debate, I don't think he does either. I don't think he knows what he said either. Okay? This is em what loony looks like. Let's take a look at how the so-called ceasefire is going, because that's [00:01:38] the key. What's really happening over there? Oh, Israel, Lebanon agreed to renew ceasefire as Iran launched deadly attack on Kuwait airport. Hmm. So Kuwait said Wednesday that an Iranian missile and drone attack hit its international airport, killed one person, wounded dozens [00:01:56] more. claims it launched a retaliatory attack on the US military bases in Kuwait after another set of airstrikes by American forces, which Central Command called self-defense strikes on Iranian military positions. CBS News filling in some the reporting the details there. [00:02:16] Iran's supreme leader accused the US and Israel of Trying to sow division among Iranians after suffering a decisive blow during the Middle East war, foreign minister said that no tangible progress has been made in negotiations to end the Middle East war. So that seems like a definitive [00:02:37] statement, doesn't it? You ask the president of the United States what's going on and he gives you this kind of back and forth fluffiness. But there you have the Iranian foreign minister saying. There's not any progress going on. I want to pause there, Viviana, and get your [00:02:53] take on the back and forth. mean, reporters have to, well, some of them, some are just podcasters and far right leaning whatever in the room with Donald Trump. the real reporters in the room have to ask questions. And it's not up to them to decide how he answers. And [00:03:10] that's the thing. I think you're 100 % right when you said you don't know what he said there. I mean, he said, It depends what agree means. What do you mean by agree? We mean agree. Do you need like a definition? You need a dictionary in there? Did you throw all those books out too and ban the dictionaries? What's going on? It's that doublespeak. Now I will say, we can't [00:03:31] just accuse conservatives of this kind of stuff too. We heard a lot of doublespeak from the Dems. We heard a lot of doublespeak from Clinton. He might have been the king of doublespeak. So it depends what your definition of is is, right? It's just a mess, Sharon. What are we gonna do? Well, that's just it. There's lots of things being floated. Obviously, Donald [00:03:52] Trump doesn't know what's gonna happen here. He has no plan and neither does Hey, Seth. So let's move on to this. Now, as much as Trump wants to pretend that there's no reason to get a deal done, could be catastrophic if the war drags on into the fall. That we do know. [00:04:07] And it's all about that straight, the straight of our moves. If it's shut until October, economists are already warning the world. The world could face a depression. So the stakes are high here. The economic toll is huge, straight, normally carries close to 20 % of the world's oil [00:04:29] and a comparable share of its liquefied natural gas. Closure has already produced the largest supply disruption in decades. You own that, Donald Trump. You and your friend, Bibi Netanyahu, you own it. It was open before you got involved and BB called you up and said, Hey, wouldn't [00:04:49] it be fun to, I don't know, do this thing? And now look, said it would take days. They've been obliterated. They have nothing left. And yet Kuwait's airports being shot up. So who are you going to believe? Who do you believe? By April, global oil output had fallen by 12.8 [00:05:08] million barrels per day since February with production from the Gulf countries affected by the closure running more than four million barrels a day below pre-war levels. National Security Journal with the numbers there. The longer the closure runs, the worse the cumulative [00:05:27] damage is. One detailed cost model estimated a prolonged closure would inflict trillions in global economic losses, more than 4 % of world output with a full escalation scenario [00:05:42] reaching towards six 6 % of the global GDP. We have to pause there because we throw out numbers, numbers, Do you understand? Donald Trump and BBO, what could very well happen [00:06:00] come full and thereafter. 6 % of the GDP, the global GDP. So if you're hurting now, I don't know that we can quantify how much you'll be hurting in the fall if you have anything left. [00:06:15] Viviana, what say you? I mean, this is just so depressing, right? I mean, it's always been tenuous in the Middle East. We had access to the strait. It was working okay. We were trading oil barrels in dollars. Things are changing. And I wanna remind everybody because it seems [00:06:32] like we've forgotten that war is a horrible, violent thing that we don't want. We have Pete Hegseth wearing, this is war. Like it's some sort of like fun mantra. There are people dying, there's violence happening all over the place. That's what war is. Now this intense economic [00:06:48] effect, that might be the only thing that makes a change for public opinion. This economic effect is really, they don't care about violence and people dying, but they do care about their pocketbook and money. And the way things are being set up right now, the people that are [00:07:05] gonna be paying for this are not the one percenters, it's us. You know what TYT has always been about, taking on the corrupt greedy establishment. For us, it's the corporate media. We've been fighting that fight for over 20 years. For the cell phone industry, it's the same story, a handful of massive corporations ripping you off. That's why we're partnering with Noble [00:07:24] Mobile. They're the only wireless company with the same mission as ours, to fight back. Their Noble plan offers unlimited data for just $50 a month. But here's the best part, for any data that you don't use, you get cash back. Real money you can spend however you want. Stop letting your unused data pad the pockets of billionaires. With Noble, you take control [00:07:43] over your data. And by switching to Noble, you're directly supporting TYT in our mission of bringing you honest, independent news. So give Noble a try and make the switch today. Scan the QR code on the screen now or visit go.tyt.com slash plan. That's go.tyt.com slash plan. Yeah, [00:08:00] it's us. And we're increasingly louder. We saw people go into the polls a couple days ago and people are fed up and people can't go to the doctor, can't feed their families, certainly can't power their vehicles because of, again, this administration. America first, he said.

The Damage Report: June 6, 2025