Steve Hanke
@steve_hanke
Professor of Applied Economics @JohnsHopkins | Senior Contributing Columnist @Fortune | FX & Commodity Trader | Reagan White House | Views are my own
6.3K Following 862.2K Followers
The Kolkata–Sairang Express jumped the tracks at Digaru station in Assam, leaving several passengers hurt.
INDIA'S INFRASTRUCTURE REMAINS IN A COMPLETE STATE OF NEGLECT AND DISREPAIR.
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A Maldives seaplane was involved in an incident at Malé’s airport. All passengers and crew got out safely.
Just more confirmation of Hanke’s School Boy Theory of History: It’s just one damn thing after another.
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Over 300 Italian schools have been evacuated after coordinated bomb threat emails.
Just more confirmation of Hanke’s Schoolboy Theory of History: it’s just one damn thing after another.
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MORE SMOKE & MIRRORS.
STAY TUNED.
White House special envoy Jared Kushner says Russia and Ukraine have agreed on a large-scale prisoner exchange following talks in Abu Dhabi, adding that he and Steve Witkoff are planning to visit Moscow tomorrow.
📺 Sky 501, Virgin 602, Freeview 233
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#PAKWatch🇵🇰#: AS USUAL, THE PAKISTANI AUTHORITIES IGNORED THE COURT ORDER FOR TWICE-WEEKLY ACCESS TO IMRAN KHAN.
PAK = NO RULE OF LAW = 3RD WORLD.
The party of jailed Pakistani ex-PM Imran Khan has demanded access to him after he was taken to a hospital overnight for treatment and sent back to prison, saying “his family, personal doctors and legal team must be given immediate access.”
🔗:
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Today, THOUSANDS took to the streets of Barcelona, Spain, protesting the high cost of living and housing affordability.
NYU Prof. Aswath Damodaran, the world's leading valuation expert and AI skeptic:
"I just don't trust Sam Altman as a person ... He is very Machiavellian in terms of how he operates."
DAMODARAN NAILS IT.
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The Economist reports that hedge funds are RUNNING from AI.
In June, hedge funds' exposure to AI was 47%. Now, they've cut their exposure to 32%.
HEDGE FUNDS ARE UNWINDING THE AI HYPE.
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Roth Capital's chief economist Michael Darda just said: "The Fed is Lost."
I AGREE. The US money supply (Divisia M4) is growing at 7.4%/yr, ABOVE Hanke's Golden Growth Rate of 6.3%/yr, a rate consistent with hitting the Fed's 2% target.
THE INFLATION GENIE = OUT OF THE BOTTLE.
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TRUMPONOMICS = AMERICANS BURIED IN DEBT.
BREAKING: US credit card debt has reached a record high of $1.29 trillion, with the average balance per consumer now at $6,678.
A recent Reuters/Ipsos poll shows a WHOPPING 62% of Americans want Congress to repeal Trump's tariffs.
TRUMP’S TARIFFS = BACKFIRE.
According to a HuffPost/YouGov poll, French President Emmanuel Macron’s approval rating has PLUMMETED to an ALL-TIME LOW of 12%.
MACRON HAS LOST ALL CREDIBILITY AND RELEVANCE.
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#NigeriaWatch🇳🇬#: Pres. Tinubu's government just launched a minimum pension guarantee for retirees: ₦52,500 a month. At the official exchange rate, that's about $39 a month.
THE NAIRA'S COLLAPSE HAS TURNED TINUBU'S "PENSION SECURITY" INTO CHICKEN FEED.
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In November 2025, dry bulk grain shipments moving through the Bosporus averaged 23 vessels per day. So far this November, traffic has PLUMMETED to 8 per day.
THE NATO-UKRAINE WAR AGAINST RUSSIA HAS SHUT OFF THE RUSSIAN & UKRAINIAN GRAIN TAPS.
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#ItalyWatch🇮🇹#: Due to surging electricity and gas prices, major Italian steelmakers are SHUTTING DOWN PRODUCTION.
PM MELONI'S WAR ON RUSSIA = AN ECONOMIC WRECKING BALL.
According to a new BILD/INSA Research Institute poll, German Chancellor Friedrich Merz's approval rating has fallen to a RECORD LOW of 13%.
IT'S TIME FOR RUSSOPHOBE MERZ TO TAKE THE EXIT DOOR.
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Thailand's inflation jumped to 3.9%/yr in October. That's the highest rate since Jan. 2023.
Just a month earlier, Bank of Thailand Gov. Vitai Ratanakorn said he was in "no rush" to raise rates.
I AGREE.
The money supply is growing at 5%/yr, within Hanke's Golden Growth Rate of 5.44-7.44%, a rate consistent with Thailand's 1-3% target range.
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#SouthSudanWatch🇸🇸#: On Hanke's #CurrencyWatchlist#, this week the South Sudanese pound ranks as the WORLD'S 6TH WORST CURRENCY.
The pound has depreciated by 30% against the USD in the past year.
SOUTH SUDAN'S POUND IS SINKING. DOLLARIZE OR DROWN.
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#VNZWatch🇻🇪#: Today, I measure Venezuela's inflation at a PUNISHING 244%/yr.
THAT'S THE WORLD'S HIGHEST RATE.
IT'S TIME TO DUMP THE WORLD'S WORST CURRENCY, THE BOLÍVAR, AND OFFICIALLY REPLACE IT WITH THE USD.
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#CubaWatch🇨🇺#: On Hanke's #CurrencyWatchlist#, this week the Cuban peso ranks as the WORLD'S 5TH WORST CURRENCY.
The peso has depreciated by 42% against the USD in the past year.
THE PESO IS GETTING KILLED BY SOCIALISM AND SANCTIONS.
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