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
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[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.
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