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Jeffrey Sachs: America’s “Legacy of Delusion” Fueling Financial Bubble & Iran Failure
Posted
September 3, 2026
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September 3, 2026
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Jeffrey Sachs joins Drop Site’s Ryan Grim and Murtaza Hussain to discuss how Washington’s delusions about American power are fueling wars abroad and a financial bubble at home.
Drawing on his firsthand experience advising Russia at the Soviet Union’s collapse and decades studying Asia’s economic rise, Sachs traces the roots of America’s belief that it can dominate the world. He explains why efforts to isolate Iran and Russia are failing, how U.S. sanctions are pushing countries toward alternatives to the dollar, and what he saw on a 15,000-kilometer road trip from Rome to Hong Kong this summer.
Sachs also argues that soaring U.S. stock valuations rest on a dangerous assumption: that American technological supremacy will endure. With China challenging that dominance, he warns of a “major financial correction” as Washington’s “geopolitical bubble” fuels a financial bubble that he argues is destined to burst.
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