The Hormuz Blockade is BACK — Here’s What Trump Wants
episode
Raging Moderates with Scott Galloway and Jessica Tarlov
47 min
6 speakers
5 chapters
transcribed 2 months ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
If you sit in the sun, you may just get burned. But some people are willing to take that chance. There is this certain degree of nihilism of like, oh, well, the world is bad anyway. Why wouldn't I just also get a tan? Tan maxing. That's this week on Explain It To Me. Find new episodes wherever you get your podcasts.
Welcome to Raging Moderates. I'm Scott Galloway.
And I'm Jessica Tarlow.
How are you, Jess?
I'm really good. How are you doing?
I'm good. It's good to be back. I got a lot of emails yesterday after our episode, after our session. And most of them were not hateful, which is kind of unusual for me.
There was a lot of God's spit and fire.
Honey, that's a great cup of coffee. That's mine. Sexist throwback to the 50s tonight. Anyways.
I got it.
All right, let's bust into it. The Iran war is back in full swing after Trump formally notified Congress that fighting is resumed. The U.S. will reinstate a naval blockade today, and Trump says the U.S. will charge a 20 percent fee on cargo to provide safe passage for ships in the Strait of Hormuz. After calling for the arrest and deportations of Democratic socialists, here's Trump speaking about why he's restarting the war.
And we're going to keep the Strait, and we'll probably run it. We'll become the guardian of the Strait. Maybe we'll call it the guardian angel of the Strait. And we can't be expected to do that for nothing, unlike we had for many years. You know, we guarded the Strait for 50 years, more, and we never got paid for it. They made all the money, and the United States was just, you know, not. They wouldn't. It's amazing. We never made. We guarded it for nothing. And now we're going to guard it. We're going to get paid for guarding it. A lot of money.
Thoughts, Jess?
I mean, so many thoughts. Mostly, Marco Rubio, come and get your boy. This is Marco Rubio a month ago. No country is allowed to charge tolls or fees on an international waterway. Those are the rules.
Yeah.
That's why we said in the first place that Iran couldn't do what they're doing, even though Iran is obviously going to do this in perpetuity, right? Like this is the gift that keeps on giving unless you completely take over their country, which I know in Donald Trump's most depraved fantasies, that's how he ends up as Ayatollah Trump and all of this with an incredible amount of power and access to this waterway. It's Iran's. And they can strike whatever deal they want. The region is going to have to at some point make side deals with them to make sure that their ships can get in and out because the entire region and then by extension, the entire world depends upon it. I just think it's So entertaining.
I mean, it would be funny if it didn't have such dire implications for the global economy. But watching him flail like this, right? Like he tried all-out war. We apparently obliterated everyone, right? Their Navy was at the bottom of the sea, etc. But that didn't work, I guess. He tried diplomacy. That was a huge bomb.
What triggered the U.S. to reinstate a naval blockade of the Strait of Hormuz?
He's now blaming Obama for it. He was talking about... a couple of days ago, how Obama is actually a secretly a terrorist again. So we're back to old school conspiracy theories or slander. And I saw the inflation report this morning and I thought like, oh, this is going to be such a shit day on the five, right? They're going to be gloating. It's the single biggest drop in inflation since April 2020, 4.2% in May down to 3.5%.
What does Trump's proposed 20% fee on Hormuz transits actually mean for international law?
And I'm like, oh, and this coincides with him ramping up the war again. And the biggest drop was obviously from the gas prices and the electricity costs, all tied to the fact that we were supposed to be getting some sort of solution, diplomatic solution to the war. So I'm sure the prices are going to spike back up again. I'm not rooting against America. I don't like us paying more. I am just trying to survive the 5 to 6 p.m. hour. So I think that I'll be okay. This seems dumb. What do you think?
So... When I graduated from business school, I didn't know what I wanted to do. I just knew I didn't want to go back into investment banking. And I thought, and I took a strategy course and I thought, oh, I'm going to start a strategy firm because I have two years of experience in fixed income and I'm 26 and it makes sense that I should start a strategy firm.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:04–3:20
2
What triggered the U.S. to reinstate a naval blockade of the Strait of Hormuz?
3:20–3:46
3
What does Trump's proposed 20% fee on Hormuz transits actually mean for international law?
3:46–26:20
4
Why do Scott and Jess argue the administration lacks scenario planning for the Iran crisis?
26:20–33:36
5
How could charging a toll on a strategic waterway reshape global trade and insurance costs?
33:36–47:19
Speakers
6 identifiedMore from Raging Moderates with Scott Galloway and Jessica Tarlov
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