Prof. Steve Hanke

Prof. Steve Hanke


Applied Economist @JohnsHopkins | Sr. Fellow & Director #TroubledCurrencies Project @CatoInstitute | @Forbes | FX & Commodities Trader | Reagan White House Alum

352477 followers  •  6817 follow  •    •   http://t.co/g7QtfrgXlV

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.

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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.

#Biden ’s handling of the press has been a disaster. During a meeting wit #Modi  #Biden  had told Modi "not answer questions from the US press, which "behaves" worse than Indian media. This is why you get nothing but daily dishonesty from Biden.

A female American soldier was allegedly assaulted by a group of Afghan refugees at a refugee camp. President Biden’s vetting process for Afghans has more holes than a piece of Swiss cheese. Daily dishonesty.

By jailing #Uyghur  business owners, the #CCP  is making a fortune. Since 2019, over $80M worth of assets belonging to Uyghurs have been stolen by the CCP & placed on auction. #China ’s #Communist  Party is hard at work. The Party isn’t over.

#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.

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#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.

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#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.

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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.

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@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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