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The David Pakman Show

Global financial panic unleashed by Trump’s Iran war

09 Mar 2026

Transcription

Chapter 1: What is the main topic discussed in this episode?

0.031 - 6.4 David Pakman

The Iran war is spiraling in ways that the White House clearly did not expect.

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Chapter 2: How did Trump’s actions lead to rising costs and oil shocks?

6.641 - 31.277 David Pakman

We have oil prices spiking. The Strait of Hormuz is effectively shut down, panicked global markets, gas prices going almost vertical, and there's still no strategy or exit plan. And importantly, even by Trump standards, he may lose this war. as Iran has now announced that the son of the Ayatollah will take the reins of the regime.

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31.658 - 48.263 David Pakman

Even the short sighted regime change they wanted appears not to be happening. Meanwhile, images from a dignified transfer of the fallen American troops from Iran have Trump wearing a baseball hat and looking extraordinarily bored.

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Chapter 3: What triggered the global market panic regarding the Iran war?

48.243 - 72.462 David Pakman

Caroline Leavitt refuses to rule out a military draft if the conflict escalates. Did you consider that maybe your sons and daughters could be drafted into this insane war? And later, we're going to look at newly released documents tied to the Epstein investigation that are extremely disturbing. Plus, we will be joined by Massachusetts Governor Maura Healey

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72.627 - 113.826 David Pakman

who has figured out a way to hamstring Trump's ice goons. We'll talk to her and more. What a show. We're going to talk. that Donald Trump may be about to lose this war that he started by his terms.

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Chapter 4: What happened during Trump’s dignified transfer ceremony for fallen soldiers?

113.887 - 133.617 David Pakman

Now, you might be saying, well, what do you really mean by win or lose? I'm going to explain. And in fact, there are some claims that Trump has already lost this war, evidenced by the fact that after killing the Ayatollah, the supreme leader, and pushing for regime change, let's decide who will be in power. We've toppled the regime.

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133.85 - 147.112 David Pakman

The news reporting is that Iran has named the son of the Ayatollah the new supreme leader, meaning that we have achieved the exact opposite of regime change. Now, we will get to that in a moment.

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Chapter 5: What is Karoline Leavitt’s stance on a potential military draft?

147.132 - 168.868 David Pakman

One of the questions that has come up in this theater of war. has been what would it mean to win? Is it about nuclear facilities? Well, were they obliterated over the summer of twenty five or weren't that they and what is the status of those facilities? And OK, that's one aspect to this. We then have the consequences of what is happening.

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168.848 - 175.2 David Pakman

We have the questions as to is what Donald Trump did even legal because he didn't go and get authorization from Congress.

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Chapter 6: How did Trump respond to questions about ground troops and civilian casualties?

175.5 - 200.356 David Pakman

We have the broader sort of philosophical question. Should the United States be engaging in regime change, et cetera, et cetera. But if we put all of that back and go back, back, back, back, back. There is the whole question of the Ayatollah was killed. Eighty six years old. There was a succession plan. Is killing the Ayatollah really going to achieve regime change?

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Chapter 7: What insights does Maura Healey provide about state-level responses to federal actions?

200.876 - 224.933 David Pakman

Donald Trump said last week that if the son of the Ayatollah, Mattaba Khamenei, was made the leader, that that would be unacceptable. And we have now learned that indeed the new supreme leader of Iran is Mattaba Khamenei. We are seeing every aspect of this backfire. It's going to be good for the economy. It's been a disaster.

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225.755 - 248.445 David Pakman

It's going to be good for America's reputation around the world as tough. The world is horrified by what Donald Trump is doing. Well, at least we will change the regime. And it seems that that is not happening. Look at what else is going on. Iran effectively closing down the Strait of Hormuz. Tanker traffic, oil tanker traffic is down 80 to 90 percent. Oil has nearly doubled in a week.

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249.026 - 268.238 David Pakman

American operations are costing about a billion dollars a day. And we have now I believe that this is the latest number. It's getting to where it's hard to keep up with the number of American troop deaths. But I believe that there have now been seven American troops killed. We learned that a likely U.S.

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Chapter 8: What disturbing details emerged from the DOJ documents related to Epstein?

268.298 - 295.904 David Pakman

strike on February 28th hit a girls elementary school, killing somewhere close to but under 200 civilians. Kuwait was expected to have about 18 days of oil storage, but they started cutting production as well. You look at Iraq. Oil output from its southern fields is down about 70 percent. Qatar is warning that Gulf exporters might stop production altogether.

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296.425 - 321.509 David Pakman

And so we have this mix of disastrous military political and economic news, which has gone completely chaotic as American embassies are trying to evacuate. But it's becoming difficult in part because the Trump administration didn't properly arrange for the evacuation of Americans in the region. We're seeing delays. Facilities are being hit. Thousands are stranded.

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322.03 - 329.4 David Pakman

And meanwhile, the new supreme leader of Iran, who Trump said would be an unacceptable choice

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329.38 - 352.215 David Pakman

is very extreme and that in and of itself may prolong the conflict because the new supreme leader seems to have a significant appetite for keeping this going, for taking deaths on their end and potentially and boy, do I hope this doesn't happen, potentially trying to launch attacks against the United States and its allies.

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352.195 - 378.324 David Pakman

The Atlanta Fed now estimates that in the first quarter of this year, GDP fell from three percent to two point one percent in four days. We are still in Q1, January, February, March. Just based on the first few days of this conflict, we may have lost a full point of GDP. Now, I'm not here to tell you which of these things you should care about more.

378.725 - 392.445 David Pakman

Should you should you care more about the economic? Should you care more about the political? Should you care more about the deaths that are taking place? It all matters. We don't we don't have to rank it. It's just it's an all of the above. This is a disaster. Big picture. Stocks are down.

392.425 - 419.222 David Pakman

We the Fed has very little room for rate cutting because of rising oil prices pushing inflation expectations higher. So this is quickly becoming not only a political disaster, not only an economic disaster, not only a humanitarian disaster. But it doesn't even really seem that Donald Trump is going to be able to, quote, win this war the way that he described.

419.242 - 448.061 David Pakman

Now, we're going to get in a moment primarily to the economic. But this is having a lot of flashbacks to the Iraq war of George W. Bush of 2003. Donald Rumsfeld saying we're going to be greeted as liberators. They're going to. Did he make a quote about roses? I think he did. Rumsfeld roses Iraq. Iraqi citizens will throw flowers and sweets at our troops. Yeah, exactly.

448.622 - 476.027 David Pakman

So we are now seeing it's going to be a few days of war. It's going to be four weeks. It's going to be five weeks. Well, it's also not completely up to us. because Iran has agency and Iran could extend this as well. Imagine if after all this, by their own definition, they lose this easily winnable war. That's what we're facing right now. Let's talk about the economy.

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