Steve Hanke
@steve_hanke
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Economist @JohnsHopkins | Sr Fellow & Director #TroubledCurrencies Project @CatoInstitute | @NRO | FX & Commodity Trader | Reagan White House | Views are my own
Baltimore & Paris
Joined October 2012
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The int'l floating exchange rate anti-system wreaks havoc on the stability of emerging markets. To stabilize the int’l scene, the U.S. & EU should stabilize the USD-euro exchange rate & EMEs should tie their currencies to USD or EUR via currency boards.
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Spanish farmers have joined in on the protests against soaring production costs. Take a look as a pack of tractors drive down the street:
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"That government is best which governs least." – Henry David Thoreau
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According to
@OUDHSV
, after 100 days in a state of emergency, there have been 306 torture cases & +4000 arbitrary detentions in
#ElSalvador
. For once in his life, Pres. Bukele was telling the truth when he called himself "the coolest dictator in the world."
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On Monday, Mexican President López Obrador HALTED beer production in North Mexico. Mexico's National Water Commission declared a drought emergency. This confirms my Schoolboys Theory of History: It’s just one damn thing after another.
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US Inflation came down to 8.5%/yr in July, but it is CERTAINLY not out. Just ask New Yorkers, where lunch break costs $33 for a sandwich & fries. Monetary mismanagement by the Fed means that inflation will end the year at 6%-8%/yr.
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Democrat Senator Ed Markey says there’s no reason to pay for gas when you can get an electric vehicle. NEWS FLASH: the average cost of an electric vehicle is $67,000. Take a listen:
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Protests have erupted in Northern Syria. The public is enraged by the Turkish Foreign Minister Mevlut Cavusoglu calling for a "reconciliation" between the Syrian opposition and regime. Take a look:
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Russia has halted oil through the Druzhba pipeline which supplies countries like Slovakia & the Cz. Republic. It’s payback time. You sanction me, and I will hurt you much more than you are hurting me. It’s a simple game. Want to play?
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HANKE'S BELIEVE IT OR NOT! While the Americans are struggling to put food on the kitchen table (Pres. Biden loves his “kitchen table” line & uses it all the time.), Pres. Biden is taking a WEEK-LONG VACATION on a private beach. Must be nice.
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According to a recent Amnesty Int’l report, Ukraine is endangering civilians by launching attacks via populated areas & establishing bases near schools & hospitals. It’s hard to find reportage of this in the mainstream media. Where are the FACT CHECKERS?
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G.A. Roeders, a 200-year-old German aluminum foundry, will institute regular shutdowns due to Germany’s skyrocketing gas prices. The Germany’s sanctions against Russia are destroying German industry. Trouble is brewing. Germans will soon be in the streets.
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Buckle up, electric vehicle prices are SKYROCKETING. Recently, Ford announced it will raise the price of EVs by $6,000-$8,500 due to significant increases in raw material costs. The rush to the GREENTOPIA will cost an arm & leg. THERE'S NO GREEN-FREE LUNCH.
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The Inflation Reduction Act's EV tax credit requires all vehicles to contain a battery entirely sourced from North America. SPOILER ALERT: Only 22 of the 72 EV models sold in the U.S. QUALIFY. Yet another I’ll-conceived policy by the Washington’s Greenies
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