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Prof. Steve Hanke
Applied Economist @JohnsHopkins | Sr. Fellow & Director #TroubledCurrencies Project @CatoInstitute | @Forbes | FX & Commodities Trader | Reagan White House Alum
Each week I publish Hanke’s #CurrencyWatchlist : a basket of rotten apples that have depreciated at least 20% against the USD since Jan. 2020. Venezuela takes 1st prize, as usual. The Bolivar has depreciated by 98.81% against the USD. It’s high time that VNZ officially dollarized.
Sweden's Anders Tegnell had it right all along. SWE's decision not to enforce lockdowns & not to close schools turned out to be a major success. Why is it so hard to find press coverage of SWE's laissez-faire triumph? 3 guesses & the 1st 2 don’t count.
In the #US , there are 10M job openings, yet 8.7M people are still unemployed & participation rates are still low. Why? The unemployed are getting paid more to stay at home than to work. If you subsidize something (read: unemployment), you get more of it.
#EconWatch : According t @FreedomHouseDC Freedom Indexes, since 2 #Turkey17 has been declared a "Not Free" country. But, Pres. Erdogan's Islamic revolution just keeps rolling along.
#Bitcoin is an asset that is extremely volatile, susceptible to fraud, and highly uncertain. What could go wrong? Bitcoin is nothing more than a highly speculative asset with a fundamental value of ZERO.
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@MBuhari has failed. #Nigeria is in the grip of chaos. Bandits control major highways. The government can’t protect its own citizens from #BokoHaram or the #Corrupt police. #Unemployment stands at 27.1%, and #Inflation - which I accurately measure every day - soars at 30.37%/yr.
#Nigeria now ranks 146th out of 180 countries in Transparency International's Corruption Perceptions Index, slipping from 136th place when @MBuhari was first inaugurated. Under Buhari's “watchful eye”, corruption runs rampant.
This isn’t the Gestapo or KGB. These are #Modi ’s #RSS thugs breaking into #Muslim homes, pillaging & assaulting with impunity. #BJP ’s radical #Hindutva agenda is turning #India into a nightmare for Muslims. #DelhiBurns #DelhiRiots2020
Ever since Sleepy @MBuhari took office in 2015, #Nigeria 's government has been among the least effective in the world. Sleepy remains asleep at the wheel.
@MBuhari announced in his 2021 budget proposal that he expects #Inflation to be 11.95%/yr next year. He must have pulled that number out of a hat. Today, I accurately measure #Nigeria ’s inflation at 29.45%/yr. That’s almost triple the President’s finger in the wind forecast.
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