Saturday, March 6, 2021

Top Economist Says Federal Reserve Chairman Powell is Delusional

Jat Powell

Steve Hanke, professor of applied economics at Johns Hopkins University, is probably the most solid economist that you will find at a top-ranked university.

 In the interview below, he says some very interesting things about bitcoin, listen to that if you are interested in bitcoin, but at the 14-minute mark he starts to discuss Federal Reserve policy under Jay Powell, don't miss that.  Hanke is correct, Powell is delusional and appears to be running policy in line with mad MMT policy thinking.




  1. Robert,

    What is interesting about what this guy has to say about bitcoin?

    Strident comments with little argument; advocates some kind of version of a Fedcoin, without using the term; and to boot, pitches his own academic publication on how to create such a coin!


    1. exactly, 'some very interesting things to say about Bitcoin'. Almost 100% of what he says about Bitcoin is arrogant bullshit.

      What is interesting (and disappointing) is how many genuinely libertarian writers and investment advisors (including Wenzel) have underestimated or ignored Bitcoin just because it is not anonymous or 100% safe (yet) from government crackdown.

      As a long-time & regular reader of EPJ and TL, I'm genuinely grateful for Wenzel's libertarian writings. That said, like everyone else, he gets a few important things wrong - dismissing, for years, Bitcoin's revolutionary pro-liberty potential is probably the most painful of them all!

      I urge you and all freedom lovers to open your mind to Bitcoin. We are winning and much faster than we ever imagined!