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To The Contrary with Charlie Sykes

Iran War: It’s Not Just the Economy, Stupid

To The Contrary with Charlie Sykes

Charlie Sykes

News, News Commentary, Politics

4.9718 Ratings

🗓️ 14 March 2026

⏱️ 44 minutes

🧾️ Download transcript

Summary

Economist Justin Wolfers joins Charlie to explain the impact of rising oil prices but also to remind us that there are much deeper questions that need to be asked.

Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

I'm Charlie Sykes. Welcome back to the To the Contrary podcast. If you're listening to

0:04.3

this, you've survived Friday the 13th. By the way, have you noticed that we have more Friday

0:08.4

the 13th this year than usual, or at least it feels that way? We had one back in February

0:13.3

and then again in March. It feels like a sign. We have the blizzards, the heat waves, all of

0:19.5

the things. It's almost as if the universe is trying to tell us something.

0:24.1

So let's dive in.

0:32.1

So to make sense of this land of confusion, good to have you back.

0:39.9

Justin Wolfer's, the people's economist.

0:40.9

How are you today?

0:44.0

I'm having a rubble. Fantastic.

0:51.0

Okay. Well, I want to start off with a rather, you know, extraordinary comment by Donald Trump.

0:56.4

We get to all of the global oil shocks and the way that it is spreading through the economy. And it is really an extraordinary week as we're sort of seeing the ripples, oil prices

1:02.8

not going down as hoped. And one segment of the economy after the other affected. But Donald

1:09.4

Trump said something interesting on a

1:11.0

social media. Let me just show you this. The United States is the largest oil producer in the

1:15.8

world by far. So when oil prices go up, we make a lot of money. Now, I don't know, it almost

1:22.8

suggests to me that perhaps Donald Trump is not completely in touch with a public opinion on all of this.

1:28.9

It's a little bit tone deaf to be celebrating rising oil prices, rising gas prices.

1:35.0

But Donald Trump is basically saying, hey, this is a good thing because when oil prices go up,

1:41.2

we make a lot of money.

1:48.2

So I wanted to get an economist take on that.

2:02.1

Wow. Wow. Wow. The funny thing is, there's an element of truth with a seven-layer bean dip of stupid on top.

...

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