Steve Hanke

Steve Hanke

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Economist; FX, monetary systems, EM inflation

China’s Inbound FDI Collapses as Outbound Investment Soars
SocialFeb 14, 2026

China’s Inbound FDI Collapses as Outbound Investment Soars

For years, the world invested in China. Since 2022, foreign direct investment inflows to China have PLUNGED, while China's foreign investment outflows have SURGED. https://t.co/TCWhEPF7bq

By Steve Hanke
Trump's Tariff Push Backfires, Approval Slips Sharply
SocialFeb 14, 2026

Trump's Tariff Push Backfires, Approval Slips Sharply

Trump's tariff blitz BACKFIRES. Approval ratings are tanking. 52% of Americans say Trump’s economic policies have made things worse. Now the White House is scrambling to put a positive spin on the US economy. https://t.co/a1JUyOz6LJ

By Steve Hanke
NYT Overlooks Money Growth, the Real Inflation Driver
SocialFeb 13, 2026

NYT Overlooks Money Growth, the Real Inflation Driver

The NYT credits cooling inflation to tariffs, housing, airfare, energy, & labor markets. But ignores money. Money growth has averaged 4%/yr over 2025 — far below the 6.3%/yr Golden Growth Rate, consistent with hitting the US's 2%/yr inflation target. https://t.co/tk42l7TVVZ

By Steve Hanke
Ford Faces $900M Tariff Blow, Highlighting US Corporate Pain
SocialFeb 13, 2026

Ford Faces $900M Tariff Blow, Highlighting US Corporate Pain

Ford just disclosed an additional $900M tariff hit in its Q4 results. TARIFFS = BAD NEWS FOR AMERICAN CORPORATIONS. https://t.co/kau61WOizz

By Steve Hanke
Trump Tariffs Add $1,300 Hidden Tax per Household
SocialFeb 13, 2026

Trump Tariffs Add $1,300 Hidden Tax per Household

According to a new report by the Tax Foundation, Trump’s latest tariffs amount to a $1,300 hidden tax per household. US TARIFFS = A SALES TAX ON AMERICANS. https://t.co/w3pnoqPIdP

By Steve Hanke
China Backs Struggling Cuba Amid Looming US Showdown
SocialFeb 13, 2026

China Backs Struggling Cuba Amid Looming US Showdown

As Cuba teeters on the brink of economic disaster, China promises continued support. It looks like a SHOWDOWN between the US & China might be in the cards. https://t.co/rb7Qf0CdN2

By Steve Hanke
Americans Foot ~90% of Trump Tariff Costs
SocialFeb 13, 2026

Americans Foot ~90% of Trump Tariff Costs

The New York Fed announced that US businesses and consumers paid NEARLY 90% of the cost of Donald Trump’s tariffs last year. TARIFFS = A SALES TAX ON AMERICANS. https://t.co/xEEfGxreUm

By Steve Hanke
Inflation Stays Low as Money Supply Grows Below Golden Rate
SocialFeb 13, 2026

Inflation Stays Low as Money Supply Grows Below Golden Rate

US's CPI inflation rate comes in at 2.4%/yr in January. The US money supply (M2) has been growing BELOW Hanke's Golden Growth Rate of ~6.3%/yr, a rate consistent with hitting the Fed's 2%/yr inflation target, since April 2022. THE INFLATION STORY =...

By Steve Hanke
S&P Erases Almost All 2026 Gains Amid AI Hype
SocialFeb 13, 2026

S&P Erases Almost All 2026 Gains Amid AI Hype

Forget Trump's AI HYPE. The S&P Index has now given up nearly all its 2026 gains. https://t.co/GAL0TbU7KG

By Steve Hanke
Bloomberg's Russia Dollar Rumor Likely Misleading, Says Hanke
SocialFeb 13, 2026

Bloomberg's Russia Dollar Rumor Likely Misleading, Says Hanke

Yesterday, Bloomberg reported that Russia is considering a re-entry into the US dollar system. Bloomberg's report created quite a stir. RELAX, HANKE'S 95% RULE = 95% OF WHAT YOU READ IN THE PRESS IS EITHER WRONG OR IRRELEVANT. https://t.co/8E7OK7Zm1t

By Steve Hanke
AI Hype Isn’t Boosting Profit Margins Across the Economy
SocialFeb 13, 2026

AI Hype Isn’t Boosting Profit Margins Across the Economy

If AI were living up to its hype, it would be benefiting the ENTIRE ECONOMY. IT ISN'T. Profit margins outside the tech sector would be growing. THEY'RE NOT. https://t.co/GXT1r783t0

By Steve Hanke
Libya's Economy Lags Egypt After 2011 US Intervention
SocialFeb 13, 2026

Libya's Economy Lags Egypt After 2011 US Intervention

#LibyaWatch🇱🇾: Libya’s economy is NOWHERE CLOSE to its neighbor Egypt. Thanks to the US-led regime change operation in 2011, Libya is IN THE TANK. https://t.co/mnlulHdvko

By Steve Hanke
Poland's Per‑capita GDP Eclipses Germany, Fueling Assertiveness
SocialFeb 13, 2026

Poland's Per‑capita GDP Eclipses Germany, Fueling Assertiveness

Poland’s GDP per capita OUTPACES Germany’s by a country mile. This growth gap is why Poland is flexing its muscles and pushing Germany around. https://t.co/78SQLlNP3o

By Steve Hanke
CBRT Hikes 2026 Inflation Outlook, Policy Stays Too Loose
SocialFeb 13, 2026

CBRT Hikes 2026 Inflation Outlook, Policy Stays Too Loose

#TurkeyWatch 🇹🇷: In the first Inflation Report of 2026, CBRT Gov. Fatih Karahan revised the end-2026 inflation forecast from 13–19% to 15–21%. Turkey's monetary policy remains TOO LOOSE. https://t.co/EC5mR04dt6

By Steve Hanke
Turkey's 30% Inflation Threatens Global TV Drama Boom
SocialFeb 13, 2026

Turkey's 30% Inflation Threatens Global TV Drama Boom

#TurkeyWatch🇹🇷: In January, Turkey's official inflation was reported at 30.7%/yr. That's SIX TIMES HIGHER than the CBRT’s 5%/yr inflation target. Among other things, Turkey’s sky-high inflation is squeezing its famous TV dramas, which draw crowds of 1 billion+ worldwide. https://t.co/nr4JytEGeV

By Steve Hanke
China's Three-Year Deflation Signals Weak Money Supply
SocialFeb 13, 2026

China's Three-Year Deflation Signals Weak Money Supply

China is in the grip of a DEFLATION. In January, its Producer Price Index (PPI) was NEGATIVE at -1.42%/yr. If that's not bad enough, China's PPI has been negative for 3 STRAIGHT YEARS. DEFLATION = AN ANEMIC MONEY SUPPLY GROWTH STORY. https://t.co/HJkJ55fGfN

By Steve Hanke
Cuba's Socialist Crisis Drives 46% Inflation, Fourth Globally
SocialFeb 12, 2026

Cuba's Socialist Crisis Drives 46% Inflation, Fourth Globally

#CubaWatch🇨🇺: Cuba’s socialist disaster produces an inflation rate of 46%/yr. That makes Cuba the WORLD’S FOURTH-HIGHEST INFLATOR. I remain the only reliable source of inflationary measures in Cuba. https://t.co/tNgaFALVro

By Steve Hanke
Trump’s Policies Projected to Add $1.4 Trillion Deficit
SocialFeb 12, 2026

Trump’s Policies Projected to Add $1.4 Trillion Deficit

Congress’ fiscal watchdog, the CBO, has just indicated that Trump’s fiscal policies will add $1.4 tn to the US deficit over the next decade. US GOVERNMENT SPENDING IS OUT OF CONTROL. https://t.co/BZNx1n4jtt

By Steve Hanke
Venezuela Leads This Week's Hyperinflation, Followed by Iran, North Korea
SocialFeb 12, 2026

Venezuela Leads This Week's Hyperinflation, Followed by Iran, North Korea

#HankeInflationDashboard: By my measurements, this week's top 5 inflators are: 🇻🇪Venezuela — 701.6%/yr 🇮🇷Iran — 82.9%/yr 🇰🇵North Korea — 74.6%/yr 🇨🇺Cuba — 46.0%/yr 🇱🇾Libya — 45.6%/yr https://t.co/ghPM730D4X

By Steve Hanke
U.S. Interest Costs Set to Double by 2036
SocialFeb 12, 2026

U.S. Interest Costs Set to Double by 2036

By 2036, the U.S. will spend $2.14 TRILLION a year on interest payments, versus just $1 trillion today. U.S. taxpayers are being taken to the cleaners. They’re paying for yesterday’s government largesse and receiving nothing for it. https://t.co/xMUu3S9H8I

By Steve Hanke
Trump Tariffs Backfire as China Shifts to New Markets
SocialFeb 12, 2026

Trump Tariffs Backfire as China Shifts to New Markets

US tariffs were supposed to punish China. Instead, China pivoted away from the US and made friends and commerce with non-U.S. buyers. TRUMP’S TARIFFS = BACKFIRED. https://t.co/oibXA4xbmF

By Steve Hanke
Big Tech Buys Trump Tariff Exemptions, Small Firms Suffer
SocialFeb 11, 2026

Big Tech Buys Trump Tariff Exemptions, Small Firms Suffer

Big Tech and their lobbyist have bought exemptions from Trump’s tariffs. Meanwhile, the small fries are getting FRIED. TRUMP’S TARIFFS = THE BIG GUYS CAN ALWAYS BUY AN EXEMPTION. https://t.co/zlVn4ornDl

By Steve Hanke
Argentina's 32% Inflation Signals Milei Must Dollarize
SocialFeb 11, 2026

Argentina's 32% Inflation Signals Milei Must Dollarize

Argentina’s January inflation came in at a RED HOT 32.4%/yr. Pres. Milei’s monetary model is not working. MILEI MUST DOLLARIZE NOW. https://t.co/MLSKqYfys7

By Steve Hanke
US Household Debt Peaks at $18.8T, Delinquencies Surge
SocialFeb 11, 2026

US Household Debt Peaks at $18.8T, Delinquencies Surge

US household debt just hit $18.8 TRILLION. Consumer delinquencies are at their HIGHEST LEVEL in nearly a DECADE. Not a good sign. https://t.co/PHcOGrhvOc

By Steve Hanke
North Korea's Inflation Hits 74.6%, World’s Third Highest
SocialFeb 11, 2026

North Korea's Inflation Hits 74.6%, World’s Third Highest

#NKWatch🇰🇵: Today, I measure North Korea’s inflation at 74.6%/yr. This makes North Korea the WORLD'S THIRD-HIGHEST INFLATOR. SUPREME LEADER KIM JONG UN = KILLING NORTH KOREA'S ECONOMY. https://t.co/iTKJhtxWvr

By Steve Hanke
Trump's Blockade Halts Cuba's Jet Fuel Exports
SocialFeb 11, 2026

Trump's Blockade Halts Cuba's Jet Fuel Exports

#CubaWatch 🇨🇺: Thanks to Trump’s blockade, Cuba can no longer supply jet fuel to international airlines. Stay tuned. https://t.co/I5GxUM3wGq

By Steve Hanke
India Plans to Lift Bank FDI Cap, Boosting Lending
SocialFeb 11, 2026

India Plans to Lift Bank FDI Cap, Boosting Lending

India’s government is considering raising the foreign direct investment (FDI) cap for banks from 20% to 49%. SMART MOVE. MORE FDI = MORE BANK CAPITAL = MORE LENDING CAPACITY  https://t.co/agaPK9vbzO

By Steve Hanke
Nigeria's Inflation Surge Linked to Excess Money Supply
SocialFeb 11, 2026

Nigeria's Inflation Surge Linked to Excess Money Supply

Nigeria’s inflation rate is DOUBLE NGA’s inflation target at 15.29%/yr. Nigeria’s money supply is growing at 15.19%/yr, ABOVE Hanke's Golden Growth Rate of ~11.83%-14.83%/yr, a rate consistent with Nigeria’s 6%-9%/yr inflation target. THE INFLATION STORY = A MONEY SUPPLY STORY. https://t.co/367h7H4ytf

By Steve Hanke
Russia's Economy Outpaces UK Despite Sanctions
SocialFeb 10, 2026

Russia's Economy Outpaces UK Despite Sanctions

A dirty little secret that the Russiaphobes in London keep under the rug: RUSSIA’S ECONOMY IS OUTPACING THE UK’S. SANCTIONS = BACKFIRE = RARELY WORK. https://t.co/FLcUb0QXGw

By Steve Hanke
US Political Will to Aid Venezuela Near Zero
SocialFeb 10, 2026

US Political Will to Aid Venezuela Near Zero

Distinguished Columbia Univ. Professor Jeff Sachs on Venezuela: “The will to run Venezuela other than maybe in Marco Rubio's and Donald Trump's head is zero in the United States… a year from now, Venezuela is a forgotten issue in the United...

By Steve Hanke
UAE’s GDP per Capita Fell, Saudi Arabia Modestly Rose
SocialFeb 10, 2026

UAE’s GDP per Capita Fell, Saudi Arabia Modestly Rose

The headlines from the UAE always scream “Hot Growth.” But when compared to its arch-rival, Saudi Arabia, the UAE looks dreadful. Since 2008, the UAE’s GDP per capita shrank while the Kingdom’s grew modestly. https://t.co/aXuH6QU5nj

By Steve Hanke
Mexico's Inflation On Target, Money Supply Within Golden Growth
SocialFeb 10, 2026

Mexico's Inflation On Target, Money Supply Within Golden Growth

Mexico’s inflation rate is ON TARGET at 3.65%/yr Mexico’s money supply (M4) is growing at 7.91%/yr, WITHIN Hanke's Golden Growth Rate of ~7.3%-9.3%/yr, a rate consistent with Mexico’s 2%-4%/yr inflation target. THE INFLATION STORY = A MONEY SUPPLY STORY. https://t.co/4w05Yr94Mz

By Steve Hanke