Economist who called 9% inflation has this grim forecast for what’s next – Steve Hanke

Steve Hanke, professor of Applied Economics at Johns Hopkins University, has accurately predicted that inflation in the U.S. will reach 6% to 9%.

With the latest headline CPI release coming in at 9.1%, Hanke told David Lin, Anchor for Kitco News, that inflation has peaked for now.

Follow David Lin on Twitter: @davidlin_TV (
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Follow Steve Hanke on Twitter: @steve_hanke (
Hanke-Cofnas Gold Sentiment Index:

0:00 – Peak inflation
4:30 – The Price Is Right
9:45 – Living standards vs. inflation
12:30 – GDP forecast
14:19 – Inflation relief checks
18:00 – Europe’s response to inflation
21:45 – No such thing as a ‘free lunch’
25:00 – Scandinavian living standards
28:22 – Quantity Theory of Money
32:00 – Money velocity
35:28 – Taxes vs inflation
41:00 – Price control
43:29 – Gold sentiment index

#inflation #economy #recession
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Written by Kitco NEWS


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  1. This professor might have got his inflation call correct. But he lives in La La Land concerning a lot of other issues

    How in the world are workers going to demand a pay rise equal to inflation. When the governments official inflation number is completely fake!!!

    All the negotiation in the world could only get an employee at maximum 9%. But the 9% is not real. The real rate of inflation is at least 15%or maybe 20%

  2. I don't get the excitement about the the remark the inflation peaked! The common man in the street doesn't feel relief. With Quarterly gdp coming out at the end of July. If that is bad companies are going raise prices for goods. So that means getting less for the same amount of money. In 1971 the first MC Donalds, in all of Europe, was opened at Zaandam the Netherlands. We had our own Dutch currency de gulden back then. The Euro we got in 2002. A burger was 75 cents, Fries 40 cents, Coffee 50 cents and MC Donald mayonaise sauce 20 cents. A hamburger today costs €1,- In 2002 1 Euro was exchanged for 2,2 gulden. That should at least have been 2,4 gulden. But hé, goverments like to screw us over.

  3. If you want to go to Sweden to see swedes you better hurry up.
    The immigration is at warp speed level, and then the immigrants out breed the swedes who by them selves are decreasing in numbers.

  4. The happiness index in sweden. If half the population can do whatever, as they are paid regardless of their quality or type of work they perform, of course they are happy.

    However the results are skewed because swedes are prescribed massive amounts of happy pills, boner pills, and every other mood stabilizing pill out there. The results are given by drug addicts.

  5. let these fancy stuff out: bigmac etc

    Your strength is to GET answers. Do more of that, drill into why and how they get to their results.

    Btw the gold forecast guy you treated like he has the right to say any prediction without justifying how he gets there.

  6. Living here in Sweden, there was a development curve going wery well, untill the main politicians got called in to the Bilderberg meetings. The main politics have since been inforced to conform with the agenda of WEF, agenda 2030 etc. And now from being the safest country in Europe, we have almost the highest murder rates in Europe. All in sync with the agenda of destroing democracy, in lieu for a future new ”safe” global central controlled govt.

  7. 30:30 there is some explanation missing. the equation is MV=PY but he is talking about plus/minus.

    He must be using a differential (change in value) version of the equation

  8. The Spanish Socialist/Communist government is so useless, they pretend to do everything they can to help fight inflation but for the last two years the government hasn’t stopped hiking taxes, bunch of hypocrites

  9. Always listen to folks with experience! The young laugh and say they are out of touch but history always repeats. The bitcoin generation has no clue that they are buying a worthless asset. Its hapenned in human history before.

  10. Scary that David so immature he asks why something can't be free. Sad a lot of American youth never taught about economics. That is why so many invested in ponzi's like the now BK cryptos.

  11. "Happy" countries like the Scandinavian countries and Japan have high IQ scores in common. Watch that "happiest countries in the world" metric tank as the younger generation becomes the majority (mass immigration, average IQ 10-20 points lower, several hundred percent increase in sexual assaults). The US used to be the happiest country in the world. Then it's population was plunged into "culture war", average IQ plummeted, and we spend more of our time protecting our family members from tribal activists than on creative pursuits.

  12. Good that someone finally explains we have it better today then 30 years ago. So tired of entitled people thinking they should afford a house when they are 30 as there parents did. Which didn't have all the other stuff you now have today. Living standards have gone up not down, stop being a puxsy.

  13. Its a depression we’re in right now 70 percent of Americans have less than $1,000 in savings. Millions will go homeless after this collapse. Economists seem to only look at the stock market. Look at the real world there’s 1M homeless children in America 700K adults. 40M people live in poverty. We’re losing 240K jobs a week. 50M people are on food stamps that’s like 50M people standing in breadlines and soup kitchens across America but we don’t see that they get a EBT card it’s made Discreetly that’s like a million people per state.

  14. Strange that he could get inflation prediction right by locking at the money supply. He did not now about Russias war on Ukraine that has driven up energi prices an food prices all over the world…..was he just lucky?

  15. In 1955 that $.65 that bought the chicken contain two silver Washington quarters,, today on eBay those 2/4 silver quarters would be worth about $13,, so in fact a good point to make is you could still use those 2/4 to buy a whole chicken over 60 years later silver held its purchasing power

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