Steve Hanke

Steve Hanke

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Economist; FX, monetary systems, EM inflation

Germany Expands BND Authority, Edging Toward Police State
SocialApr 3, 2026

Germany Expands BND Authority, Edging Toward Police State

The Economist reports that Germany's Federal Intelligence Service (BND) is set to gain new sweeping powers from the German Cabinet. GERMANY = THE POLICE STATE IS BEING ELEVATED INTO THE IDEAL POLITY. https://t.co/guv72FTRYD

By Steve Hanke
Venezuela's Inflation Remains World's Highest at 548%
SocialApr 2, 2026

Venezuela's Inflation Remains World's Highest at 548%

#VNZWatch🇻🇪: Today, I measure Venezuela's inflation AS THE WORLD'S HIGHEST at a CRUSHING 548.6%/yr. That's down from a peak of 828.6%/yr on February 4th. AS IS OFTEN THE CASE, YOU WON’T FIND THIS IMPORTANT STORY IN THE MAINSTREAM MEDIA. https://t.co/x1zOmOWtIF

By Steve Hanke
Trump’s “Strongest Economy” Claim Clashes with Modest Growth
SocialApr 2, 2026

Trump’s “Strongest Economy” Claim Clashes with Modest Growth

Trump says he built the "strongest economy in history". TRUMP = HASN’T LOOKED AT THE DATA. USA REAL GDP GROWTH 2024 = 2.8%/yr USA REAL GDP GROWTH 2025 = 2.1%/yr. https://t.co/ZEBSTs32ra

By Steve Hanke
Trump’s Absurd Oil Advice Reveals Twisted Pretzel Logic
SocialApr 2, 2026

Trump’s Absurd Oil Advice Reveals Twisted Pretzel Logic

Trump's "advice" to nations that are suffering from the US-Israeli war of choice that closed the Strait of Hormuz: "Build up some delayed courage, go to the Strait and just take [the oil]. Iran has been decimated... so it should...

By Steve Hanke
Trump Boasts Rapid US Takeover of Venezuela, Sparks Criticism
SocialApr 2, 2026

Trump Boasts Rapid US Takeover of Venezuela, Sparks Criticism

Trump on the US capture of Venezuela in his address to the nation: "American troops took the country of Venezuela in a matter of minutes...it was quick, lethal, violent & respected by everyone all over the world.” IS THIS REALLY WORTH THE...

By Steve Hanke
61% of Americans Anticipate Recession Within Year
SocialApr 2, 2026

61% of Americans Anticipate Recession Within Year

The latest Ipsos Consumer Tracker finds that 61% of Americans expect a recession within the next 12 months. While recession storm clouds are gathering, a slowdown is BAKED IN THE CAKE. https://t.co/uijU8le8FD

By Steve Hanke
Trump’s Iran Threat Highlights His Aggressive Diplomacy
SocialApr 2, 2026

Trump’s Iran Threat Highlights His Aggressive Diplomacy

Trump on Iran: " We're going to bring them back to the Stone Ages where they belong." A CLASSIC EXAMPLE OF TRUMP’S DIPLOMATIC RHETORIC. https://t.co/x6KI2D81sQ

By Steve Hanke
Erdoğan Warns War Extension Could Spark Regional Conflict
SocialApr 2, 2026

Erdoğan Warns War Extension Could Spark Regional Conflict

#TurkeyWatch 🇹🇷: President Erdoğan warned prolonging the war risks triggering a broader regional conflict, saying any new fronts would serve Israel’s “bloody strategy,” and vowed Turkey will act “without hesitation” to ensure peace. https://t.co/dy6Disl4Q7

By Steve Hanke
Gulf Conflict Threatens to Tip Fragile Global Economy
SocialApr 2, 2026

Gulf Conflict Threatens to Tip Fragile Global Economy

Even before the US-Israeli war on Iran, the global trade engine was faltering. With the Gulf war mounting, it may just push the global economy over the edge. https://t.co/NMD5CzxP9b

By Steve Hanke
China Sees US‑Israeli Clash on Iran as Strategic Boon
SocialApr 2, 2026

China Sees US‑Israeli Clash on Iran as Strategic Boon

China sees the US-Israeli war on Iran as a strategic gift. The great power, the US, is making enemies faster than you can shake a stick. Napoleon famously said, ‘Never interrupt your enemy when he's making a mistake.' https://t.co/tWhTBmSIBr

By Steve Hanke
War Boosts Iran's Nuclear Weapon Prospects, Says Mearsheimer
SocialApr 2, 2026

War Boosts Iran's Nuclear Weapon Prospects, Says Mearsheimer

Distinguished UChicago Prof. John Mearsheimer on Pres. Trump and Netanyahu's FAILED war goals: “The chances that Iran will get a nuclear weapon have increased significantly as a result of this war.” https://t.co/ZvNgg6aqnl

By Steve Hanke
Two‑Thirds of Americans Demand Quick End to Iran War
SocialApr 1, 2026

Two‑Thirds of Americans Demand Quick End to Iran War

According to a new Ipsos poll, 66% of Americans say the US should end its involvement in the Iran conflict quickly. THE US PUBLIC IS TURNING ON TRUMP, THE WAR PRESIDENT. https://t.co/tRVyc22FJC

By Steve Hanke
Iran Sees Conflict as Chance to Expel US Influence
SocialApr 1, 2026

Iran Sees Conflict as Chance to Expel US Influence

Former British Diplomat Alastair Crooke on Iran's position in the war: "Iran is seeing these events... as an opportunity to change the whole geopolitics of West Asia. To invert it completely, to remove the US... and its whole infrastructure of finance...

By Steve Hanke
US Debt Set to Hit $64 Trillion, Calls for Convention
SocialApr 1, 2026

US Debt Set to Hit $64 Trillion, Calls for Convention

US national debt is projected to rise by $2.4 TRILLION annually over the next decade. As a result, total national debt would SURGE to $64 TRILLION. IT’S TIME FOR AN ARTICLE V CONSTITUTIONAL CONVENTION TO LIMIT DEBT. https://t.co/ZvvUKmkbHa

By Steve Hanke
Asia’s Coal Resurgence Driven by Gas Shortages and Geopolitics
SocialApr 1, 2026

Asia’s Coal Resurgence Driven by Gas Shortages and Geopolitics

Asia is being FORCED BACK TO COAL to keep the lights on. Gas shortages are leaving countries with no other alternatives. THE US-ISRAELI WAR ON IRAN = UNINTENDED CONSEQUENCES. https://t.co/h4FiiSWzHr

By Steve Hanke
Hormuz Closure Threatens Helium, Driving up Chip Prices
SocialApr 1, 2026

Hormuz Closure Threatens Helium, Driving up Chip Prices

The closure of the Strait of Hormuz is choking off about a third of the world’s global supply of helium. Helium is a critical input in semiconductor manufacturing used to cool chipmaking tools. LESS HELIUM = FEWER CHIPS = MORE EXPENSIVE CHIPS....

By Steve Hanke
Trump’s Coffee Tariff Inflates U.S. Prices Like a Sales Tax
SocialApr 1, 2026

Trump’s Coffee Tariff Inflates U.S. Prices Like a Sales Tax

Thank Trump's 40% tariff on Brazilian coffee for the outrageous price you’re paying for your morning brew. TRUMP’S TARIFFS = A SALES TAX ON AMERICANS. https://t.co/o9JpKTsjDV

By Steve Hanke
Ego's Goal: Becoming, Not Just Seeing
SocialApr 1, 2026

Ego's Goal: Becoming, Not Just Seeing

“The ultimate aim of the ego is not to see something, but to be something.” – Allama Iqbal https://t.co/PqdxF7Hc0X

By Steve Hanke
South Sudan Blind Without Money Supply Data Since Oct 2024
SocialApr 1, 2026

South Sudan Blind Without Money Supply Data Since Oct 2024

South Sudan’s government hasn’t produced RELIABLE MONEY SUPPLY DATA since October 2024. SOUTH SUDAN = NO RELIABLE DATA = FLYING BLIND https://t.co/nPGh0aY8rq

By Steve Hanke
Libyan Dinar Plummets, Ranks 5th Worst Globally
SocialApr 1, 2026

Libyan Dinar Plummets, Ranks 5th Worst Globally

On this week's Hanke's #CurrencyWatchlist, the Libyan dinar ranks as the WORLD'S 5TH WORST CURRENCY. The dinar has depreciated by over 26% against the USD in the past year. LIBYA = ANOTHER REGIME CHANGE FAILURE = A FAILED STATE. https://t.co/3GHuHYqn9N

By Steve Hanke
US Taps Pakistan for Iran Peace Despite Double‑dealing
SocialApr 1, 2026

US Taps Pakistan for Iran Peace Despite Double‑dealing

#PakWatch🇵🇰: In a stunning move, the US has chosen Pakistan as an intermediator for US-Iranian peace talks. Washington has apparently forgotten Pak’s double-dealing with the both the US and the Taliban during the Afghan war. FREE IMRAN KHAN. https://t.co/kL20qXe4Ih

By Steve Hanke
China and India: BRICS’ Demographic and Economic Powerhouses
SocialApr 1, 2026

China and India: BRICS’ Demographic and Economic Powerhouses

There are two elephants in the BRICS room, China and India. They not only have a combined population of over 2.8 BILLION, but economic firepower too. https://t.co/nrI5ZlnwBg

By Steve Hanke
Rising Oil Prices Could Trim India's Growth Outlook
SocialApr 1, 2026

Rising Oil Prices Could Trim India's Growth Outlook

#IndiaWatch🇮🇳: India’s 7.0% - 7.4% growth outlook will be downgraded. Harvard Prof and former First Deputy Managing Director of IMF Gita Gopinath warns that if OIL AVERAGES $85-$100 PER BARREL, INDIA LOSES 0.5-1% OF GROWTH. MODI SHOULD SEND A BILL FOR...

By Steve Hanke
India Doubles Russian Oil Imports, Undermining Sanctions
SocialApr 1, 2026

India Doubles Russian Oil Imports, Undermining Sanctions

#IndiaWatch🇮🇳: Since the US-Israeli war on Iran started, India’s oil imports from Russia have nearly doubled. Good news. IT’S A SIGN THAT THE ILL-CONCEIVED SANCTIONS REGIME IS STARTING TO BREAK DOWN. https://t.co/XzP5Xxh83g

By Steve Hanke
Gulf Oil Transit Dries up, Sparking Price Crunch
SocialApr 1, 2026

Gulf Oil Transit Dries up, Sparking Price Crunch

Oil from the Gulf that has been in transit to its destinations is about to dry up. Then, there will be a crunch. Paul Krugman employs standard econ arithmetic to end up with a price range of $99/BBL to 372/BBL, depending...

By Steve Hanke
Ukrainian Drone Hits Russian Plant, Killing Two, Signaling Desperation
SocialMar 31, 2026

Ukrainian Drone Hits Russian Plant, Killing Two, Signaling Desperation

Today, a Ukrainian drone strike caused a major explosion at a petrochemical plant in Tatarstan, Russia. Reports indicate that at least two people were killed and dozens of others were injured. MORE EVIDENCE THAT UKRAINE IS REALLY GETTING DESPERATE. https://t.co/z33hZduAfy

By Steve Hanke
New US LNG Capacity Too Small to Replace Qatar Losses
SocialMar 31, 2026

New US LNG Capacity Too Small to Replace Qatar Losses

LNG production in Qatar, normally ~80 mm tonnes, has been effectively OFFLINE since March 2. The new Golden Pass LNG export terminal in the U.S. will add only 18mm tonnes at full capacity. NEW SUPPLY CAN’T OFFSET WAR-DRIVEN LOSSES. https://t.co/tVmip8DsaM

By Steve Hanke
Sanctions Crumble as Iran Conflict Fuels Oil Crisis
SocialMar 31, 2026

Sanctions Crumble as Iran Conflict Fuels Oil Crisis

Step 1: US and Israel attack Iran. Step 2: Iran counterattacks and shuts the Strait of Hormuz. Step 3: Oil prices soar. Step 4: To mitigate the damage, sanctions are lifted on Russia’s shadow fleet. Conclusion: Good. The ill-conceived sanctions regime is finally falling...

By Steve Hanke
Gas Hits $4 Gallon, Raising Trump's Affordability Concerns
SocialMar 31, 2026

Gas Hits $4 Gallon, Raising Trump's Affordability Concerns

According to AAA, the national average cost of a gallon of gas has just pierced $4.00 a gallon. THE WINDS OF WAR = HIGHER GASOLINE PRICES = MORE AFFORDABILITY PROBLEMS FOR TRUMP. https://t.co/LhuAOXiVXf

By Steve Hanke
US‑Israel War Choice Triggers Iran Closing Hormuz
SocialMar 31, 2026

US‑Israel War Choice Triggers Iran Closing Hormuz

Forget the Western propaganda and spin. The US and Israel engaged in a war of choice against Iran. Iran counterattacks and shuts the Strait of Hormuz, one of the world’s 8 important chokepoints. DAMAGED PARTIES THROUGHOUT THE WORLD SHOULD SEND A BILL TO TRUMP...

By Steve Hanke
Iranian Drone Strikes Kuwaiti Tanker, Demonstrating Growing Firepower
SocialMar 31, 2026

Iranian Drone Strikes Kuwaiti Tanker, Demonstrating Growing Firepower

In Iran's counterattack against the US and Israel, an Iranian drone strike hit a fully loaded Kuwaiti oil tanker near Dubai. Forget the Western propaganda. The Iranians have plenty of firepower. https://t.co/6X12Z8HDBw

By Steve Hanke
Venezuela's Bolivar Plummets 83%, Calls for Dollarization
SocialMar 31, 2026

Venezuela's Bolivar Plummets 83%, Calls for Dollarization

On this week's Hanke's #CurrencyWatchlist, the Venezuelan bolivar ranks as the WORLD'S WORST currency. The bolivar has depreciated by over 83% against the USD in the past year. VENEZUELA’S TOP PRIORITY = OFFICIAL DOLLARIZATION. https://t.co/AUN4GLdvgF

By Steve Hanke
Zimbabwe's Central Bank Halts M2 Data Since 2025
SocialMar 31, 2026

Zimbabwe's Central Bank Halts M2 Data Since 2025

The Reserve Bank of Zimbabwe hasn't officially released M2 Money Supply data since December 2025. ZIM = A MASTERCLASS IN POOR ECONOMIC DATA. https://t.co/19E41X3pxN

By Steve Hanke
Senegal's Anti-Corruption Promise Shattered by Hidden €650M Debt
SocialMar 31, 2026

Senegal's Anti-Corruption Promise Shattered by Hidden €650M Debt

Following its 2025 hidden-debt scandal, Senegal tapped €650M in undisclosed borrowing to finance itself. Typical. In 2024, Senegalese Pres. Bassirou Faye ran on an anti-corruption platform. https://t.co/RynjocejJG

By Steve Hanke
India Refuses to Play Go‑Between in US‑Israel‑Iran Conflict
SocialMar 31, 2026

India Refuses to Play Go‑Between in US‑Israel‑Iran Conflict

#IndiaWatch🇮🇳: India's minister of external affairs, S. Jaishankar says India will not be a “go-between country like Pakistan" in the US-Israeli war on Iran. S. JAISHANKAR = A WISE MAN. https://t.co/JFnuxXvlKV

By Steve Hanke
India Shifts Fertilizer Imports to Russia, Undermining Sanctions
SocialMar 31, 2026

India Shifts Fertilizer Imports to Russia, Undermining Sanctions

#IndiaWatch🇮🇳: India is one of the largest importers of fertilizers sourced in the Gulf. Now, India has pivoted towards Russia. It is locking in long-term deals, to cut its reliance from the Gulf. IT’S A SIGN THAT THE ILL-CONCEIVED SANCTIONS REGIME IS STARTING...

By Steve Hanke
India Tops China in Population, China Still Richer per Capita
SocialMar 31, 2026

India Tops China in Population, China Still Richer per Capita

India recently pulled ahead of China in population, surpassing 1.4 BILLION people. But, when it comes to income per person, China continues to outpace India. https://t.co/eKcw6L1crT

By Steve Hanke
War on Iran Could Spike Asian LNG Prices 57%
SocialMar 31, 2026

War on Iran Could Spike Asian LNG Prices 57%

Because of the US-Israeli war on Iran, Goldman Sachs projects that LNG will be 57% more expensive in Asia by 2028. US-ISRAELI WAR ON IRAN = MASSIVE COLLATERAL DAMAGE. Send the bill for damages to Trump and Netanyahu. https://t.co/zGDQ6V7G5Z

By Steve Hanke
Powell Denies QE's Role in Inflation and Inequality, Lies
SocialMar 31, 2026

Powell Denies QE's Role in Inflation and Inequality, Lies

Today, in a speech at Harvard, Fed Chair Powell claimed that QE (the explosion of the money supply) did not cause inflation, nor did it contribute to the massive increase in US income inequality post-COVID. Those statements are blatantly UNTRUE. THE FED...

By Steve Hanke
Gallup: 72% Say Job Market Is Terrible Amid Trump Policies
SocialMar 30, 2026

Gallup: 72% Say Job Market Is Terrible Amid Trump Policies

The latest Gallup survey found that job sentiment has PLUNGED. 72% of American employees said it was a BAD TIME to find a quality job. TRUMP’S TARIFFS + TRUMP’S WAR ON IRAN = US JOB MARKET TROUBLES. https://t.co/7LmRVUwORW

By Steve Hanke
Numbers Reveal the Real Stakes in Great Power Competition
SocialMar 30, 2026

Numbers Reveal the Real Stakes in Great Power Competition

When it comes to great power competition, it’s always good to look at the numbers. A PICTURE IS WORTH A THOUSAND WORDS. https://t.co/oDxkPFvNS7

By Steve Hanke
Rial Strengthens 9% Amid US‑Israeli Conflict, Media Silent
SocialMar 30, 2026

Rial Strengthens 9% Amid US‑Israeli Conflict, Media Silent

Since the start of the US-Israeli war on Iran, the Iranian rial has APPRECIATED by 9% against the USD. AN IMPORTANT FACT THAT THE WESTERN MEDIA HAS FAILED TO REPORT ON. https://t.co/Dlt04mOOmJ

By Steve Hanke
Sachs Calls Iran War a Whim of Netanyahu, Trump
SocialMar 30, 2026

Sachs Calls Iran War a Whim of Netanyahu, Trump

Distinguished Columbia University Prof. Jeff Sachs on the War in Iran: “This is a war of choice, but you could call it a war of whim of Netanyahu and Trump… viewed in horror by almost the entire world.” https://t.co/8GxLCOczwg

By Steve Hanke
Turkey’s FM Warns Conflict Could Spark Global War
SocialMar 30, 2026

Turkey’s FM Warns Conflict Could Spark Global War

#TurkeyWatch 🇹🇷: Foreign Minister Hakan Fidan warned “we are heading toward a greater war.” He called the conflict a fight for Netanyahu’s “political survival”,  with consequences that “affect the whole world.” https://t.co/DJNLKRC4xI

By Steve Hanke
Erdogan Calls Gaza War Israel’s Political Survival, Urges Immediate Halt
SocialMar 30, 2026

Erdogan Calls Gaza War Israel’s Political Survival, Urges Immediate Halt

#TurkeyWatch 🇹🇷: President Erdoğan said the war is “Israel’s war” and “Netanyahu’s war for political survival,” warning “the cost is being paid by 8 billion people,” and called for it to “be stopped immediately” for the sake of humanity. https://t.co/YYz5A18gXx

By Steve Hanke
Five Months of Negative FDI Highlight India's Red‑Tape Crisis
SocialMar 30, 2026

Five Months of Negative FDI Highlight India's Red‑Tape Crisis

#IndiaWatch🇮🇳: Net foreign direct investment (FDI) into India was a NEGATIVE $1.4B in January. That marks 5 STRAIGHT MONTHS of negative flows. INDIA’S MOUNTAIN OF GOVERNMENT RED TAPE = REPELS FDI = BIG PROBLEM.

By Steve Hanke
US Exports Overall, yet Imports Crude Oil, Says Analyst
SocialMar 30, 2026

US Exports Overall, yet Imports Crude Oil, Says Analyst

My latest with @davidlin_TV on US energy dependence: "If you include all energy products, the US is a net exporter. But if you look at crude oil, the US is a net oil IMPORTER. Forget that we are a net exporter of...

By Steve Hanke
Israeli Airstrikes Kill over 1,100 Lebanese Since March
SocialMar 29, 2026

Israeli Airstrikes Kill over 1,100 Lebanese Since March

ISRAEL CONTINUES ITS REIGN OF TERROR. Lebanon’s Health Ministry reports that SIX Lebanese have been killed in the past 24 hours by Israeli forces. Since March 2nd, the Lebanese Health Ministry reports that at least 1,189 Lebanese have been killed by Israeli...

By Steve Hanke
Private Credit Cracks Deepen as Major Lenders Cut Losses
SocialMar 29, 2026

Private Credit Cracks Deepen as Major Lenders Cut Losses

BlackRock slashed two private credit loans from par value to zero in months. Ares is limiting withdrawals, and Blue Owl has halted them. The cracks in private credit are spreading. IS PRIVATE CREDIT MAKING AMERICA GREAT AGAIN? https://t.co/FBZ2JFNGtC

By Steve Hanke