Loading ...Steve Hanke was right on target with his inflation numbers he explains. He said in 2021 it will be 6~9 and he was right.
He said it’s not just about raising the interest rates but the spending their doing.
I watched other videos and he appears to be a bit disconnected with the real world a bit or perhaps bias in a way or it was satire, I’m not sure. Why should business have to pay for government incompetence causing inflation by having to raise wages every time it goes up which causes more inflation for instance. Perhaps that’s not his job to ask why.
What happened to the rule of 72 where costs double every 24 years? They used to use 3 percent inflation numbers not 2 and if it were 2 it would be even farther out.
Instead things doubled in about 10 years.
That would put the real number at 7 not two. 72/7 of it were really 2 of would take 36 years to double. Who’s job is it to ask why?
Steve Hanke