Source: UnHerd
by Yanis Varoufakis
“When the bombs began to rain down on Iran, I predicted Donald Trump’s Waterloo. Watching his MAGA coalition, a noxious brew of working-class resentment and tax cuts for billionaires, descend into a civil class war, I paraphrased Churchill on the Battle of El Alamein: in his second term, before Iran, Trump had never faced a serious defeat; after Iran, he will not taste another victory. While I stand by my prediction, a new observation must be grafted upon it: the Iran war has awarded Trump’s plutocratic circle a spectacularly enriching victory. In a republic that has long since mutated into an oligarchy, albeit one with periodic elections, the plutocrats’ expanding fortunes matter disproportionately.” (05/13/26)