Prof. Steve Hanke warns to stay away from US bond market as ‘Trump is trapped in an inflation crisis’

On this episode of Going Underground, we speak to Steve Hanke, Professor of Applied Economics at Johns Hopkins University. He discusses the Federal Reserve hiking interest rates by 25 basis points last Wednesday, the real reason behind the US bond market being in a slump and why inflation will be around for a while, why he recommends private investors to stay away from the US bond market, why Donald Trump has no good options to escape the current inflation and bond market crisis, the war on Iran’s impact on the US government’s budget deficit, increased energy prices in the US being a ‘war tax’ on the American people, and how Donald Trump has contributed to BRICS through his actions, and why Xi Jinping holds all the cards in dealing with the United States.

Prof. Hanke and Afshin Rattansi also debate the legacy of Hugo Chavez’ Bolivarian Revolution, with Hanke calling Chavez an economic disaster for Venezuela and calling for the adoption of the dollar for Venezuela, while Afshin Rattansi points out the achievements of Chavez in improving the lives of ordinary Venezuelans.

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