Sunday, July 29, 2018

Iranian Currency in Death Spiral

Prof. Steve Hanke, applied economist at Johns Hopkins University, reports:
The Iranian rial plunged from 98,000 to the dollar on Saturday to 112,000 to the dollar on Sunday. That is a 12.5% depreciation in value in a single day. The rial has entered a classic death spiral


  1. Quick, someone remind me: why do we hate the Iranians? I want to be a team player.

    1. 'Cause they were so rude to us Americans when they took over our embassy in November 1979. I mean, we were totally innocent and then that happens.... (/sarc)

    2. Because they haven't forgot or ever been thankful for the overthrow of their leader in 1953 (wink wink). If only they forgot transgressions like the USA