Oil underlies every aspect of the modern capitalist economy. The closure of the Strait of Hormuz represents an oil shock unlike any in modern history.

An economic depression looms. The lack of fertilizer and the increased price of fuel for transport will make food prices climb sharply. While downright famine might not be on the cards in the US, millions will forego necessary meals as they are forced to  prioritize where to spend their inflated dollars.

Meanwhile the war is having drastic consequences on consciousness. The US military is no longer seen as all-powerful, but instead as humiliated and weakened. There is growing demoralization in the armed forces, and a mood of discontent among US workers desperately seeking a political expression.

In this vacuum of class politics, right wing populist demagogues like Tucker Carlson are able to skillfully tap into the mood with rhetoric that mirrors the underlying class anger. Their aim is to distort this anger towards anti-migrant sentiment.

This has always been reactionary, but it is particularly noxious at a time when US imperialist bullying of Latin America is gaining momentum. The imperialists have their eyes set on Cuba, and they seem to be making moves to try to deal a decisive blow to the revolution.

All of this and more is covered in The Communist Issue 24.

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