Trump's Global Meltdown - July 8, 2026

**Ana Kasparian** (0:00)
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Introducing Metaglasses.

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You have questions, they've got answers.

**JD Vance** (0:46)
Hey, Meta, what's the capital of Peru?

**SPEAKER_3** (0:49)
Lima.

**SPEAKER_6** (0:49)
How do you say, where's the restroom in Spanish?

**Ana Kasparian** (0:53)
Dónde está el baño?

**SPEAKER_6** (0:55)
Hey, Meta, is a hot dog a sandwich?

**SPEAKER_3** (0:58)
Technically, no. Spiritually, yes.

**SPEAKER_7** (1:01)
Hey, Meta, what should I do with my life?

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That's one of life's biggest questions. What do you think?

**Ana Kasparian** (1:08)
Ask anything with the new Metaglasses.

**Donald Trump** (5:30)
I got to be president three times.

**Ana Kasparian** (6:16)
But why would Charlie Kirk's Security Detail call Ben Shapiro's Security Detail when Ben Shapiro wasn't even anywhere near the Utah University where Charlie Kirk was shot and killed, as Charlie Kirk was in the back of a car being transported to a hospital? I don't know. I don't know what the answer to that is. That's not a story we're going to be covering today, but it is a question that many should be asking. Maybe we'll cover that tomorrow. Today though, we've got so much to get to. Obviously, the war is back on with Iran. And I want to give you the latest updates on that. In fact, some news broke just before we went live today, so I can't wait to get to that story. Afterward, we're going to talk a little bit about the economic ramifications of the fact that we are now seeing kinetic action, bombings between the United States and Iran in the Middle East once again. I'll talk a little bit about oil prices, what the markets are looking like. We'll also discuss the fact that the Trump administration has spent $1.5 billion in American taxpayer money to purchase two private prisons. Which will continue to be privately run, but publicly owned, in order to ensure that those facilities can skirt regulations. And we're going to also discuss why investors are pulling out of investing in a Palantir. You think Palantir is just unbreakable, unshakable, but some investors think otherwise. So we'll tell you why in the second hour of the show. As always, just want to encourage you guys to like and share the stream. If you're watching us live, it's a great, quick, easy way to help support the show and the work we do here. You can also become a paying member and get some of the perks that come along with membership, including keeping us independent by going to tyt.com/join.
All right, folks, let's get right to it.
Is the ceasefire done? Is the MOU dead?

**Donald Trump** (8:10)
It's a very interesting question.

**SPEAKER_10** (8:12)
To me, I think it's over.

**SPEAKER_7** (8:15)
Why are you apparently unable to end the Iran War?

**Donald Trump** (8:19)
I'm number one on the list for killing. They're a little loco. They're a little crazy.

**Ana Kasparian** (8:26)
Who's a little loco and who's a little crazy? Unfortunately, Trump isn't really engaging in a moment of self-reflection. But nonetheless, the Memorandum of Understanding, which was supposed to essentially create a path to a peace deal with Iran, appears to be collapsing, completely falling apart. In fact, right before I went live, there were some breaking news stories in regard to some of these strikes that the United States is carrying out against Iran. And it does appear that these strikes are a little more strategic than previous strikes.
These are meant to attempt to take control of the Strait of Hormuz. ABC confirms with Trump officials that the new ongoing US strikes on Iran are, yes, bigger than the previous strikes when it appeared the MOU was going to fall apart but didn't.
They're striking coastal radar sites, anti-ship missile sites, and IRGCC2 exactly targets relevant for the Marines to seize Kesham Island or Karg Island in the Gulf. Now the thinking behind that is it would further cripple Iran's economic well-being. I mean, whatever is left of Iran's economic well-being. But it's unclear whether or not this military strategy would work. If there were a military option available to the Trump administration to the Pentagon, they certainly would have carried it out earlier. They appear to feel a little more, I don't know, prepared to carry out such a military operation. Whether or not they would be successful, I'm not an expert and I'm gonna wait to actually research this and speak to experts about it. But let me give you some more details about what Trump has been saying in regard to the MOU, which really does appear to have collapsed at this point. So as we reported yesterday, the latest bombing exchange all started after Iran struck some sources saying two, other sources saying three vessels that were attempting to transit along an unapproved path through the Strait of Hormuz. So that unapproved path that I'm referring to is actually closer to the Omani side in the Strait of Hormuz. But Iran wants commercial ships to sail near their shore for obvious reasons. Their real leverage in this conflict is the fact that they have control over the strait. And so they want to ensure that that control remains under Iran. And they want to ensure that these vessels specifically transit through the approved Iran path. Now vessels kept breaking that rule and over the weekend, as we shared with you, Iran had warned that they will retaliate. They will attack any of the vessels that are traveling through that Oman route. And I should note, the United States is specifically pushing for the Oman route in the Strait of Hormuz in order to weaken Iran's ability to control transit through the strait. So that is what the Trump administration is attempting to do.