Steve Hanke

#VNZWatch🇻🇪: Today, I measure Venezuela's inflation AS THE WORLD'S HIGHEST at a CRUSHING 547.4%/yr. That's down from a peak of 828.6%/yr on February 4th. YOU WON’T FIND THIS IMPORTANT STORY IN THE MAINSTREAM MEDIA.

As usual, my good friend Banx hits the nail on the head.

My view in @FortuneMagazine on how inflation was ALREADY BAKED INTO THE CAKE: “Inflation was accelerating before the war, and it will keep accelerating after the war’s over and oil prices fall.” fortune.com/2026/04/14/wha…

In Hanke’s 2025 Annual Misery Index, Taiwan TAKES THE PRIZE as the world’s HAPPIEST country, followed by Singapore, Thailand, Ireland, and Côte d'Ivoire.

#ArgentinaWatch 🇦🇷: The World Bank is considering loaning Argentina up to $2B to help refinance its debt. Stuck with junk-rated bonds, Argentina is leaning on multilateral development banks for finance. IT'S TIME FOR THE WORLD’S BIGGEST DEADBEAT TO DITCH THE PESO AND DOLLARIZE.

As jet-fuel costs surge, airlines are raising baggage fees across the board. Passengers are now paying $50–$60+ just to check a bag. AIRLINE PASSENGERS ARE PAYING A TRUMP-NETANYAHU WAR TAX.

In Hanke’s 2025 Annual Misery Index, Sudan ranks as the SECOND MOST MISERABLE country in the world. SKY-HIGH UNEMPLOYMENT = ECONOMIC MISERY.

#PakWatch🇵🇰: Pakistan’s military-led government plays global broker but can’t fix its own economy. Pak has a STUNNING 25 IMF bailouts since 1950. PAK ONLY KNOWS HOW TO DO ONE THING WELL = PASS THE BEGGING BOWL.

#PAKWatch🇵🇰: Imran Khan’s sister, Aleema, calls out the INHUMANE TREATMENT of Imran Khan and his wife, Bushra Bibi: "The pressure is deliberate, calculated, and inhumane. [Imran Khan] said clearly, “No deal, no surrender! It is liberty or death.” FREE CAPTAIN PAKISTAN.

#IndiaWatch🇮🇳: When measured in dollar terms, India falls from 4th to 6th in global GDP rankings.  This slip can be laid at the rupee's doorstep. With the rupee down ~11% in FY26, India’s GDP is smaller in dollar terms. India is yet to cross the magic $4 trillion GDP mark.

In Hanke’s 2025 Annual Misery Index, Turkey ranks as the THIRD MOST MISERABLE country in the world. SKY-HIGH BORROWING COSTS = ECONOMIC MISERY.

Bloomberg reports that Indian officials say that the US-Israeli war on Iran could be as DISRUPTIVE as the COVID pandemic, and the damage to the global economy will LAST FOR YEARS. I agree.

In a counterattack to America’s aggressive protectionist measures, China has nearly TRIPLED its use of export controls in the last 5 years. Beijing is turning its supply-chain dominance into geopolitical leverage. CHINA'S MESSAGE = IF YOU ATTACK US, WE WILL COUNTERATTACK.

In 1995, China accounted for virtually ZERO of Iran's trade. Today, it accounts for 1/3. Ill-advised US sanctions on Iran have BACKFIRED. They’ve allowed China to increase its sphere of influence.

As a result of the US-Israeli war on Iran, many are pivoting away from a dependence on fossil fuels. China is A BIG WINNER. CHINA DOMINATES GLOBAL PRODUCTION IN SOLAR, BATTERIES, AND EVs.

Due to the logistical disruptions in the Strait of Hormuz, Wood Mackenzie estimates global markets could be short ~10M b/d. That’s roughly the scale of the demand collapse during the first year of the Covid pandemic. THE WORLD IS FACING A SERIOUS CRUDE OIL CRISIS.

My view in @FortuneMagazine on how US inflation is JUST GETTING STARTED: “It’s at the point now where the inflation genie is clearly out of the bottle and won’t be put back in anytime soon.” fortune.com/2026/04/14/wha…

According to CNN, Trump’s net approval on taxes is -28, down 30 points from +2 in his first term. The American public is turning on Trump.

Today, a MASSIVE fire broke out in the Hattar Industrial Area in Haripur, Pakistan.  Just more confirmation of Hanke’s School Boy’s Theory of History: It’s just one damn thing after another.

According to a new Ipsos poll, over half of Americans say the decision to take military action in Iran has not been worth it. THE US PUBLIC IS TURNING ON THE WAR PRESIDENT.