Steve Hanke

@steve_hanke • 851,158 subscribers

Professor of Applied Economics @JohnsHopkins | Distinguished Senior Scholar @mises | @Fortune | FX & Commodity Trader | Reagan White House | Views are my own

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Steve Hanke

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Commodity market guru Jeff Currie on Pres. Trump's so-called deals with Iran: “Five deal announcements, zero closes… sell the tweet, buy the molecule.” HEADLINES LIE, MOLECULES DON’T.

President Trump says that “we don’t need the Hormuz Strait. We have so much oil, our country is not affected by this.” TRUMP = CLEARLY UNHINGED = HAS LOST TOUCH WITH REALITY.

#TurkeyWatch 🇹🇷: Özgür Özel’s supporters rallied in Ankara, while Kemal Kılıçdaroğlu held a rival gathering at CHP party HQ. Both camps traded accusations over the party’s future. PRES. ERDOĞAN'S STRATEGY SEEMS TO BE WORKING.

Col. Doug Macgregor on Trump’s Iran misadventure: “If there were a rational calculus in play, let's be frank, we would never have attacked Iran. No one in their right mind would have done so.”

Distinguished UChicago Prof. John Mearsheimer on the US-Israeli war on Iran: “I think this decision to attack Iran on February 28th will far outdistance the Iraq 2003 war as the greatest foreign policy blunder the United States ever made.” IRAN WAR = AMERICA'S BIGGEST BLUNDER.

Distinguished UChicago Prof. John Mearsheimer on the US-Israeli war on Iran: “[The Iran war is] one of the great disasters in American foreign policy… the greatest foreign policy disaster the US has ever engaged in.”

Distinguished UChicago Prof. John Mearsheimer on Iran’s leverage: “Time is not on our side. Time is on Iran's side. And if you're playing Iran's side, what you want to do is string this out for a bit longer and bring more pressure to bear on Trump to cut a deal.”

Commodity market guru Jeff Currie on the only way to fix a commodity crisis: “The only way you solve this problem is to increase the availability of molecules.” YOU CAN’T PRINT OIL.

Former British Diplomat Alastair Crooke on the Gulf states after the US-Israeli war on Iran: “The Gulf States understand that they’ve been abandoned by the US.”

Distinguished Columbia Univ. Prof. Jeff Sachs on the US's potential leverage over Israel: “If the United States says no, we’re not your pawn and your plaything, then Israel cannot do the things it’s doing.”

Former British Diplomat Alastair Crooke on Israel’s strategic overreach: “They’re stuck in [an] unwinnable war with not enough troops and no particular way out of it.”

Ruchir Sharma, Chairman of Rockefeller International, on Americans’ overexposure in the equity market: “America is the only country where people have more of their wealth in the stock market than in the property market.”

Economist Jeff Currie on reopening of the Strait of Hormuz: “If I’m the crew guy, I’m not getting on that boat. If I’m the insurance guy in London, I’m not underwriting one of these ships going through there either.” STRAIT TRAFFIC WILL NOT RETURN TO NORMAL FOR A LONG TIME.

Distinguished UChicago Prof. John Mearsheimer on Trump’s Iran negotiating chaos: “[Trump] is sort of making things up as he goes along. He’s changing his mind from day to day. This is just no way to conduct a negotiation.” TRUMP’S ROLLER-COASTER DIPLOMACY = CHAOS.

Distinguished Columbia Univ. Prof. Jeff Sachs on ending the US-Israeli war on Iran: “The United States should go home. Stop this craziness. The episode failed. Go home. It's over. It failed.” GO HOME AND STOP THE MADNESS.

Distinguished Columbia Univ. Prof. Jeff Sachs on US regime-change operations: “They lead to civil war. They lead to insurrection. They lead to continued unrest. They lead to boomerang effects on the United States. They don't work.” REGIME CHANGE = DISASTER.

Wildfires are tearing through Turkey. 70+ blazes. 13 dead. Multiple thousands evacuated. Turkey’s wildfires were supercharged by heatwaves, wind. The government is asleep at the wheel in response. WHEN INCOMPETENCE MEETS NATURE, THE PEOPLE PAY.

#PAKWatch🇵🇰: In Karachi, Pakistan, police are blocking the media from entering the location where the votes are tallied. In Pakistan, the MILITARY RUNS THE SHOW &amp; COUNTS THE VOTES.

Col. Doug Macgregor on US inflation: “If you look at the dramatic increase in inflation, combine that with the costs of energy, I don't think Donald Trump and his administration are going to survive in office.” THE US INFLATION GENIE IS OUT OF THE BOTTLE.

Distinguished Columbia Univ. Prof. Jeff Sachs on Trump's trip to Beijing: “He went and accomplished nothing, which under the circumstances, is pretty good. Usually, we're accomplishing negative things.”

Videos

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Israel wages war &amp; RAMPAGES in Lebanon. Iran reacts and COUNTERATTACKS in the Gulf. Last night, Iran targeted Kuwait and Bahrain. Trump learns what happens when you poke a stick in a hornet's nest. TRUMP HAS LOST CONTROL OF THE MIDDLE EAST WARZONE.

A massive fire tore through a crowded neighborhood in Jakarta, leaving nearly 300 families homeless. Just more confirmation of Hanke's Schoolboy Theory of History: It's just one damn thing after another.

Commodity market guru Jeff Currie on the coming, inevitable oil price spike: “Demand is up here; supply is down here. We’re filling that gap with inventory. When you eventually run out of inventory, demand has to come down to supply… You can’t print molecules.”

#PAKWatch🇵🇰: Today, THOUSANDS of Pakistanis gathered in Gilgit-Baltistan and demanded the IMMEDIATE RELEASE OF IMRAN KHAN. PAK = NO RULE OF LAW = 3RD WORLD FREE IMRAN KHAN.

#TurkeyWatch🇹🇷: Today, TENS OF THOUSANDS of Turkish people gathered at the tomb of Atatürk. The people read Atatürk's Address to the Youth together in unison. FORTUNATELY, THE TEACHINGS OF ATATÜRK, THE GREAT MODERNIZER, ARE NOT FORGOTTEN.

#PAKWatch🇵🇰: Today, Pakistani police DENIED Imran Khan's sisters a meeting with the former PM. This action DEFIES the court order for twice-weekly access. PAK = NO RULE OF LAW = 3RD WORLD. FREE IMRAN KHAN.

Thanks to Israel’s tight censorship, you would hardly know that the Iranians are giving it a pretty good pounding. Tonight, videos escaped the censors.

Commodity market guru Jeff Currie on Iran’s leverage: “Their negotiating position at this point has never been stronger… every day that goes by, Iran’s negotiating leverage compounds.”

Distinguished Columbia Prof. Jeff Sachs on the US strikes on Iran: "The US Congress is owned and operated by the Zionist lobby. That's not an exaggeration. That's just a literal fact."

Col. Douglas Macgregor on US Credibility: “What sane person would sit down and negotiate terms with this current president and his government and buy it?” WHEN CREDIBILITY COLLAPSES, DIPLOMACY COLLAPSES WITH IT.

Col. Doug Macgregor on who shut down the Strait of Hormuz: “The world holds us [the USA] responsible for shutting down the Gulf.”

Commodity market guru Jeff Currie on the tech-energy relationship: "The only 2 industries that matter to the world are tech and energy. You got to turn on the lights, and you got to innovate. So, all we do is rotate between those 2 sectors." IT'S TIME TO ROTATE INTO ENERGY.

My take on the upcoming oil inventory shortages: "If the Strait of Hormuz remains effectively closed, the US will come close to depleting its inventories of oil by the end of July. When inventories run out, we will face a real shortage, and prices will spike."

#TurkeyWatch🇹🇷: Today, Turkish riot police used water cannons and pepper spray to block crowds in Izmir from hearing deposed CHP leader Özgür Özel speak. ERDOĞAN’S OPPOSITION IS NOT BACKING DOWN.

Distinguished Columbia Prof. Jeff Sachs on the US strikes on Iran: “The U.S. has stepped into shit today, if I could put it bluntly.”

Commodity market guru Jeff Currie on the commodity boom everyone ignores: "Since October 2020, commodities are up 210%... the NASDAQ is only up 125%. Commodities nearly doubled tech's returns. This is not a new story, I just can't get anyone to buy it." WELL I BUY IT.

#PAKWatch🇵🇰: 4 years ago today, IMRAN KHAN led HUNDREDS OF THOUSANDS of Pakistanis into the streets of Islamabad. Now, my good friend Captain PAK remains ILLEGALLY incarcerated. FREE IMRAN KHAN.

Distinguished Columbia Prof. Jeff Sachs suggests that it might be time for the men in white coats to remove Trump from the White House: “We have a president that is mentally ill… a psychopath… and a danger to the American people and the world.”

After the Canadians ran ads featuring Pres. Reagan condemning tariffs, Trump lost his cool and halted trade talks. Watch my old boss, Pres. Reagan, DESTROY TARIFFS with clarity and conviction. Trump is no Reagan.

Commodity market guru Jeff Currie on the shadow that commodity shortages will cast on the equity markets. "For example, helium doesn't matter to GDP, but when you're out, [you're out]. Where are you going to produce... chips?" TO PRODUCE CHIPS, YOU NEED HELIUM.

#PAKWatch🇵🇰: In Karachi, Pakistan, police are blocking the media from entering the location where the votes are tallied. In Pakistan, the MILITARY RUNS THE SHOW & COUNTS THE VOTES.

Israel wages war & RAMPAGES in Lebanon. Iran reacts and COUNTERATTACKS in the Gulf. Last night, Iran targeted Kuwait and Bahrain. Trump learns what happens when you poke a stick in a hornet's nest. TRUMP HAS LOST CONTROL OF THE MIDDLE EAST WARZONE.