Podcast Summary: The Majority Report with Sam Seder Episode 2514 - "How The US Weaponized Global Economics w/ Eddie Fishman"

Podcast Information:

• Title: The Majority Report with Sam Seder
• Host: Sam Seder
• Guests: Eddie Fishman, Professor of International Public Affairs at Columbia University
• Episode: 2514
• Release Date: June 9, 2025
• Description: This episode delves into the intricate ways the United States has transformed global economics into a tool of warfare. Through an engaging interview with Eddie Fishman, the conversation explores historical and contemporary instances of economic manipulation, the concept of choke points, and the broader implications for international relations and domestic policies.

1. Introduction and News Highlights (00:00 - 18:15)

Hosts: Sam Seder and Emma Vigland kick off the episode with a rapid-fire rundown of pressing political events, setting a tense and urgent tone for the discussion.

• Federalization of the National Guard: President Trump’s decision to federalize 2,000 National Guard troops ostensibly to protect federal buildings following ICE-triggered protests in Los Angeles. This action is controversial, especially as it bypasses state officials like Governor Gavin Newsom and local leaders like Karen Bass, reminiscent of Cold War-era federal interventions (07:05 - 07:39).

• Violence at Protests: Protests against ICE in LA have escalated over four days, with incidents involving non-lethal rounds being fired at protesters and officers assaulting and detaining leaders like SEIU President David Huerta (05:03 - 05:09).

• International Tensions: Israel’s forceful actions against a humanitarian flotilla, including kidnapping members and using drones to harass activists, raise significant concerns about human rights and international diplomacy (00:14 - 02:41).

• Other Major News:

  • Trump threatening Elon Musk over political donations (01:39).
  • Banning travelers from 12 countries based on ethnicity and perceived terror threats (01:39).
  • Supreme Court decisions affecting data access and educational grants (01:39 - 02:39).

Notable Quote:

Sam Seder [04:40]: "These are people looking for work. They're at Home Depot because they're looking for work. And because our immigration system is so broken, they have to look for work under the table and they can't go through the proper channels because they're going to get picked up by ICE."

2. Deep Dive: ICE Protests and Federalization (02:39 - 18:15)

Emma Vigland and Sam Seder provide a detailed account of the ICE protests in Los Angeles, highlighting the aggressive tactics used by ICE agents and the community’s resistance.

• Protester Arrests and Quotas: ICE agents have imposed daily detainment quotas, leading to the indiscriminate arrest of largely non-criminal individuals seeking employment. Evidence shows approximately 268 out of 300 Venezuelan detainees have no criminal records, underscoring the arbitrary nature of these arrests (13:05 - 14:54).

• Federal vs. State Authority: The federalization of the National Guard against state leaders' wishes marks a significant escalation, drawing parallels to historical events like the 1965 federal intervention during the Selma marches (07:31 - 07:39).

• Violence Against the Press: Incidents such as the attack on Australian reporter Lauren Tomasi by non-lethal pellet guns despite her role as a journalist raise alarms about press freedom and government overreach (05:49 - 11:32).

Notable Quote:

Eddie Fishman [05:09]: "Anyone like them who gets exploited by capitalists or rich people in this country for their labor should immediately be given citizenship."

3. Interview with Eddie Fishman: Economic Warfare and Choke Points (23:24 - 70:57)

Eddie Fishman, author of the New York Times bestselling book Choke Points: American Power in an Age of Economic Warfare, joins the panel to dissect the transformation of global economics into a strategic weapon.

a. Understanding Choke Points (24:19 - 26:08)

Fishman introduces the concept of choke points, traditionally geographic locations like the Bosphorus Strait or the Strait of Hormuz, which have been pivotal in controlling resource flow and exerting economic pressure.

• Modern Choke Points: In the era of hyper-globalization, invisible choke points such as the dollar-based financial system and semiconductor supply chains have become crucial. Control over these elements allows the U.S. to impose significant economic harm without physical blockades (24:52 - 26:08).

Notable Quote:

Eddie Fishman [24:52]: "What that has enabled is the countries that control these invisible choke points, principally the United States, to impose really devastating economic harm on other countries just with signing a few documents."

b. Evolution of Economic Warfare (26:08 - 36:08)

Fishman traces the history from the 1990s, when globalization solidified the U.S. dollar’s dominance, to the present day where economic tools have become more sophisticated and pervasive.

• Iran Sanctions as a Case Study: The pivotal moment in modern economic warfare was the U.S. strategy against Iran, shifting from labor-intensive naval blockades to financial sanctions leveraging the global dollar system. This approach proved effective in isolating Iran and securing the nuclear deal during the Obama administration (27:08 - 30:59).

• Transition from Engagement to Confrontation: The initial belief in globalization as a path to liberalization faltered as China’s rise revealed vulnerabilities. The U.S. response transitioned from cooperative integration to aggressive economic sanctions and trade wars, particularly under the Trump administration (33:14 - 36:08).

Notable Quote:

Eddie Fishman [35:17]: "The mentality was, you know, if you're going to do sanctions, it has to look like the sanctions from the 90s, the embargo against Saddam Hussein. You need the full UN to support it."

c. The Economic Arms Race (36:08 - 56:45)

Fishman discusses how the U.S.'s use of economic sanctions has influenced other major powers like China, Russia, and the European Union to develop their own mechanisms of economic warfare.

• China’s Retaliatory Measures: In response to U.S. tariffs and sanctions, China has begun implementing its own sanctions and export controls, exemplified by actions against U.S. companies like Skydio and pvh (33:42 - 35:17).

• EU’s Anti-Coercion Instrument: The European Union has developed collective mechanisms to counteract Chinese sanctions, highlighting a shift towards a more adversarial global economic landscape (46:28 - 48:40).

• Inevitability of an Economic Arms Race: This mutual escalation leads to a divided global economy, with blocs forming around different economic and political interests, raising the risk of increased geopolitical tensions and potential conflicts (53:29 - 56:45).

Notable Quote:

Eddie Fishman [40:28]: "There's like this real, like, like broad analogy between, like, air power and drones on the one hand, and like the modern economic warfare toolkit on the other."

d. Future Implications and Global Economy Fragmentation (56:45 - 70:57)

Fishman explores potential future scenarios resulting from the current trajectory of economic warfare.

• Global Economy divided into Blocs: One scenario envisions a bifurcated global economy led by democratic allies under U.S. influence and an authoritarian bloc led by China, similar to Cold War divisions (60:22 - 63:14).

• Autarky and Imperialism Risks: The lack of permanent relationships and increased unpredictability in international trade may push nations towards self-sufficiency or even aggressive expansion to secure resources, reminiscent of imperialistic strategies (63:14 - 66:43).

• Impact on Domestic Policies and International Relations: Pushing for economic self-sufficiency could stunt economic growth and strain international alliances, ultimately fostering an environment ripe for conflict and reduced global cooperation (68:40 - 70:57).

Notable Quote:

Eddie Fishman [66:43]: "We are all trying to figure out the guy who did this."

4. Sponsors and Light Banter (18:15 - 78:25)

The episode transitions into sponsored segments promoting products like Prolon’s fasting mimicking diet and Blueland’s eco-friendly cleaning essentials. Hosts engage in lighthearted banter, showcasing the show's dual nature of serious analysis and casual conversation.

Notable Moments:

• Discussion of Prolon's health benefits and personal experiences with the diet (16:15 - 18:15).
• Promotion of Blueland’s sustainable cleaning products, emphasizing environmental impact and convenience (18:15 - 23:24).

5. Conclusion and Final Thoughts (78:25 - End)

The show wraps up with humorous interactions among the hosts, reiterating the importance of supporting the program and engaging with the community.

Notable Quote:

Emma Vigland [72:21]: "China deindustrialized us. Exactly."

Key Takeaways:

1. Weaponization of Economics: The U.S. has increasingly used economic tools like sanctions and control over financial systems to exert global influence, transitioning traditional naval blockades to more sophisticated economic maneuvers.

2. Choke Points: Modern economic choke points—such as the dollar-based financial system and key supply chains—are pivotal in exerting pressure without physical intervention.

3. Global Arms Race: The adoption of economic warfare strategies by other major powers like China and Russia has led to an escalating economic arms race, fragmenting the global economy into competing blocs.

4. Future Risks: Continued reliance on economic warfare may lead to global economic fragmentation, increased geopolitical tensions, and a shift towards autarky, with potential risks of imperialistic conflicts.

5. Historical Context: The shift from cooperative globalization to opportunistic economic warfare marks a significant change in international relations, influenced by past administrations and evolving global power dynamics.

Recommendation: For listeners interested in understanding the complexities of modern economic strategies and their global implications, Eddie Fishman's insights provide a critical examination of how economic policies are reshaping international power structures.