Steve Hanke

Steve Hanke


Economist @JohnsHopkins | Sr Fellow & Director #TroubledCurrencies Project @CatoInstitute | @NRO | FX & Commodity Trader | Reagan White House | Views are my own

472643 followers  •  6790 follow  •    •   http://bit.ly/SHH_Cato

Protests continue in Colombo, Sri Lanka, where demonstrators demand gas. With Lanka’s currency crisis, strict fuel limits have been imposed on cars & motorcycles to ration gas. Take a look.

Today, I measure inflation in Turkey at a SKY-HIGH 97%/yr. Meanwhile, TurkStat reported official inflation for April 2022 at 69.97%/yr. TurkStat continues to underreport inflation. The official numbers are INACCURATE. More daily dishonesty from Pres Erdogan & his TurkStat puppets

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In Shanghai, people are banging on pots & pans to protest the Communist Party's ruthless lockdowns. One woman's scream is heard "Give me back my freedom". Take a look:

California is planning to hire “water police” to ensure that homes & businesses don't waste water-a crime that holds a fine of $500. Welcome to the Socialist Republic of California, where your every move is monitored by the Government & enforced by POLICE.

California Gov. Gavin Newsom is blaming the state's blackouts on climate change. Rubbish. Blackouts result because the Governor has mandated renewables that can’t deliver adequate energy. It’s simple arithmetic. There's no such thing as a green free lunch.

Since early last week, nearly 100 people have been killed in attacks by armed groups in Ituri, #DRCongo . 120+ armed groups have emerged in DRC since the 1990s. @CatoInstitute  ranks DRC an abysmal 148/165 for Security & Safety in its Human Freedom Index.

The Central Bank of #Nigeria  raised its benchmark interest rate from 11.5% to 13% in response to soaring inflation, which I measure today at 35%/yr. So inflation-adjusted interest rates are vastly negative. NGA must establish a #CurrencyBoard , like the one it had from 1913-1959.

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The ECB's "inflationary can" is once again being kicked down the road by holding on to its sovereign bonds. The ECB must reduce the balance sheet immediately while aggressively tightening monetary policy if they want to curb stomp inflation.

Chaos ensued in Pakistan following clashes between PM Sharif’s supporters and Imran Khan’s PTI faithful.

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Thousands flooded the streets of Pakistan in support of Imran Khan. Looks like Khan has some loyal street support. Take a look:

"If one day, my words are against science, choose science." – Atatürk

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Capitalism vs. Socialism: the Latin American story.

#ImranKhan is correct. #India  has crushed all #freedom  for millions in #Kashmir . Politicians have been arrested, communications lines have been cut, & even children have been detained. The resentment of innocent #Kashmirisis  will hau #Modit  & t #BJPe  .

This isn’t #Syria  or #Iraq . This is #India . @narendramodi ’s radical #Hindutva  politics have normalized #BJP  & #RSS  thuggery. #ModiMadness  only aggregates religious tensions. #DelhiRiots  #DelhiBurns .

Tragic: starving #Venezuelans  fight over meager food rations. This is the #socialist  dream; there is no income inequality because everyone has an equal share of nothing.

Listen to a chilling eyewitness account from the #Lekki  Toll Gate shooting in #Nigeria , where at least 5 died and more than 20 were injured. Where was Sleepy @MBuhari  as his citizens were shot & killed at #Lekki ?  #WhereIsBuhari 

My colleagues at @JohnsHopkins  have informed me that #CowUrine  does not ward off the #Coronavirus . If anything, it is a recipe for even more ailments. #India  needs science as a guide. #IndiaVsCoronaVs #CoronavirusInIndiaCorona. InIndia.

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