Is The Fed Destroying The Economy? Professor Steve Hanke Explains Why It Will Collapse

Wealthion, Released on 6/21/24

Is the U.S. economy set to face an imminent collapse? Learn why Professor Steve Hanke predicts why the economy is heading for a crisis and how the Fed could spark the next recession. In this episode of ‘Speak Up’, Anthony Scaramucci speaks with Professor Steve Hanke, a leading expert in applied economics and co-director at Johns Hopkins University. Prof. Hanke explains the alarming contraction of the money supply, its historic implication and why he thinks the U.S. economy is heading for a crisis. Discover how current fiscal policies might lead us to the brink of a recession and what you can do to protect and grow your wealth in these turbulent times. From the impact of quantitative tightening to the long-term outlook on inflation, Hanke provides actionable advice and forecasts you can’t afford to miss.

0:00 – Introduction
1:45 – Money Supply Contraction and Economic Impact
4:36 – Prof. Hanke’s Monetary Policy Recommendations
6:32 – Unsustainable Fiscal Policy and Deficit Concerns
10:07 – Risks of Current Deficit Spending
11:52 – Inflation Causes and the Role of the Fed
13:25 – Potential Dollar Crisis Scenario
15:07 – Fiscal Policy Solutions and Constitutional Changes
16:35 – Stock Market Analysis and Buffett’s Rule
22:03 – Petro-Dollar Agreement and Dollar’s Global Role
26:53 – Ineffectiveness of Sanctions
29:40 – Liquidity and Stock Market Outlook
30:46 – Earnings Forecasts and Recession Risks
32:34 – Impact of Interest Rate Cuts
34:27 – Detroit’s Competitiveness in Auto Industry
37:26 – Housing Market: Renovation vs. Buying
38:15 – Impact of Ethereum as a Security
39:26 – Closing Remarks

Steve Hanke is an American applied economist at the Johns Hopkins University in Baltimore, Maryland. He is also a senior fellow and director of the Troubled Currencies Project at the libertarian Cato Institute in Washington, DC, and co-director of the Johns Hopkins University’s Institute for Applied Economics, Global Health, and the Study of Business Enterprise in Baltimore, Maryland. Hanke is known for his work as a currency reformer in emerging-market countries. He was a senior economist with President Ronald Reagan’s Council of Economic Advisers from 1981 to 1982, and has served as an adviser to heads of state in countries throughout Asia, South America, Europe, and the Middle East. He is also known for his work on currency boards, dollarization, hyperinflation, water pricing and demand, benefit-cost analysis, privatization, and other topics in applied economics. Hanke has written extensively as a columnist for Forbes magazine and other publications. He is also a currency and commodity trader.

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