Steven H. Hanke

Articles by Steven H. Hanke

For some years, hot money flowed in, adding massively to China’s foreign reserve stockpile. Speculators borrowed cheaply in U.S. dollars and bought yuan-denominated assets in anticipation of an ever-appreciating yuan. Well, this carry...
Yesterday, China’s Central Bank reduced bank reserve requirements for large banks by 50 basis points to 19.5%. The Chinese know that the nominal level of national income is determined by the magnitude of the money supply. They also know...
Every country aims to lower inflation, unemployment, and lending rates, while increasing gross domestic product (GDP) per capita. Through a simple sum of the former three rates, minus year-on-year per capita GDP growth, I constructed a...
On March 3, 2014, the United States went to war with Russia. That’s when the U.S. first imposed sanctions. And, yes, sanctions are nothing more than war by non-military means. Then, on November 11 Russia committed a major misstep. It...
Bankers – facing a barrage of new capital requirements, regulations and investigations – must feel as if they are targets of a witch hunt. Well, if the truth be told, they are. Indeed, it’s gotten so bad that the Dutch authorities, who...
The specter of currency wars once again haunts the international chattering classes. Remember back in 2011, when Brazilian finance minister Guido Mantega blamed the U.S. for deliberately weakening the greenback to gain a competitive...
My last column “Regime Uncertainty Weighs on Growth” (October 2014) stressed that market participants do not know what the Big Players (Read: governments and central banks) will do next. This regime uncertainty is creating an economic...
The leading political lights in Europe -- Messrs. Hollande, Valls and Macron in France and Mr. Renzi in Italy -- are raising a big stink about fiscal austerity. They don't like it. And now Greece has jumped on the anti-austerity bandwagon...
President Christina Fernández de Kirchner has turned up her left-wing rhetoric as the economy goes down the tubes. Indeed, GDP has contracted for the past two quarters; inflation is galloping at 56 percent, not the official 15.01 percent;...
As we entered the dog days of summer, a flurry of negative economic news surfaced. The news from Continental Europe was worse than anticipated, catching most observers by surprise. Those who were caught off guard failed to keep their eyes...

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