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<title>Steve H. Hanke (Author at The Cato Institute)</title>
<atom:link href="http://www.cato.org/rss/author.xml?auth_id=14/" rel="self" type="application/rss+xml" />
<link>http://www.cato.org/people/steve-hanke</link>
<managingEditor>amast@cato.org (Andrew Mast)</managingEditor>
<description>
The Cato Institute seeks to broaden the parameters of public policy debate to allow consideration of the traditional American principles of limited government, individual liberty, free markets and peace. Toward that goal, the Institute strives to achieve greater involvement of the intelligent, concerned lay public in questions of policy and the proper role of government.
</description>
<language>en-us</language>

<image>
				<url>http://www.cato.org/people/images/lowres/hanke.jpg</url>
				<title>Steve H. Hanke (Cato Institute)</title>
				<link>http://www.cato.org/people/steve-hanke</link>
				<description>Steve H. Hanke</description>
				<width>100</width>
				<height>151</height>
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				<title>A Great Depression? (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9806</link>
				<description><![CDATA[The financial crisis of 2008 has prompted many commentators to claim that we are about to enter another Great Depression. Yes, we are entering a serious slump— one that will probably last until late 2009 or early 2010. That said, the current slump is not (and will not be) comparable to the Great Dep...]]></description>
				<pubDate>Fri, 21 Nov 2008 00:00:00 EST</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9806</guid>
			</item>
			<item>
				<title>Banking Crises: Plus &#199;a Change (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9759</link>
				<description><![CDATA[Banking crises are all too common. They are also costly. The potential cost of the most recent bail-out package in the United States is a staggering $2.25 trillion. That’s 16% of GDP. Compared to the actual bail-out costs following Indonesia’s banking crisis of 1997-98, the US figure is small change...]]></description>
				<pubDate>Wed, 29 Oct 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9759</guid>
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				<title>Shelter from the Storm (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9750</link>
				<description><![CDATA[In my April 16, 2007 column I warned that the U.S. was trapped in a dangerous boom-bust cycle that began with cheap credit and would end with collapsing home and stock prices. When the bust came it was worse than I had imagined. Now what? To find a safe harbor in this storm, we must ignore panicked ...]]></description>
				<pubDate>Mon, 27 Oct 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9750</guid>
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				<title>Mark-To-Model, Into The Twilight Zone (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9745</link>
				<description><![CDATA[On Sept. 30, the Securities and Exchange Commission challenged the primacy of using market prices as a measure of value.

The SEC's new accounting clarifications assert that whenever assets are temporarily impaired or their values are distressed -- whatever that means -- market prices might be unr...]]></description>
				<pubDate>Fri, 24 Oct 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9745</guid>
			</item>
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			<title>Strategic Petroleum Reserve (Daily Podcast)</title>
			<link>http://www.cato.org/dailypodcast/podcast-archive.php?podcast_id=742</link>
			<pubDate>Fri, 26 Sep 2008 00:00:00 EDT</pubDate>
			<guid>http://www.cato.org/dailypodcast/podcast-archive.php?podcast_id=742</guid>
		</item>
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				<title>The Bush Legacy: Deflation or Inflation? (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9663</link>
				<description><![CDATA[Since 2001, the Bush administration has entangled
the United States in a war that is undefined in terms of its
scope, scale and duration. It has also been interventionist
in the domestic economy, overseeing what the U.S.
Congressional Budget Office terms a "substantial increase in
spending" whi...]]></description>
				<pubDate>Wed, 24 Sep 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9663</guid>
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				<title>The Greenback and Commodity Prices (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9639</link>
				<description><![CDATA[To address the problems associated
with rising food prices, we must
understand what has caused prices
to rise. This report identifies a major
cause of the rise in food and other
commodity prices since 2001: a weak
U.S. dollar.

The evidence suggests that the
Federal Reserve is a major culpr...]]></description>
				<pubDate>Thu, 11 Sep 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9639</guid>
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				<title>Milton Friedman: Float or Fix? (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9625</link>
				<description><![CDATA[With the passing of Milton Friedman
on November 16, 2006,
we lost one of the great champions of
free markets. Obituaries and commentaries
on his life's work and enormous
influence have invariably mentioned
his advocacy of floating exchange
rates, leaving the impression that he
always favored...]]></description>
				<pubDate>Thu, 04 Sep 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9625</guid>
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				<title>The Greenback and Commodity Prices (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9596</link>
				<description><![CDATA[The Federal Reserve's modus
operandi is to panic at the sight
of real or perceived economic
troubles. As long as inflation
remains at, or below, its "target
level", the Fed provides emergency
relief. It does this by pushing
interest rates below where the
market would have set them.

With i...]]></description>
				<pubDate>Tue, 19 Aug 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9596</guid>
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				<title>The Fed Plays With Fire (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9563</link>
				<description><![CDATA[The U.S. dollar may be cyclically weak right now, but it remains the main vehicle for foreign exchange transactions, the leading international invoice currency and the most important medium for official reserves and interventions to influence exchange rates. In addition, it provides an anchor for ma...]]></description>
				<pubDate>Thu, 24 Jul 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9563</guid>
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				<title>Kill Central Bank to Fix Inflation in Zimbabwe (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9553</link>
				<description><![CDATA[The hallmark of Zimbabwe's economic collapse is hyperinflation.
The most recent official inflation figure is for February 2008: a
whopping 165000% year-on -year.

But in June, inflation was unofficially about 2.5-million percent a
year. Not surprisingly, the Zimbabwe dollar has lost more than
...]]></description>
				<pubDate>Mon, 21 Jul 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9553</guid>
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				<title>Hyperinflation: Mugabe Versus Milosevic (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9554</link>
				<description><![CDATA[When a country's monthly inflation
rate exceeds 50% – that is close to an
annual rate of 13,000% – it qualifies
as a hyperinflation.

Episodes of hyperinflation are rare. they have
only occurred when the supply of money has been governed
by discretionary paper money standards. No hyperinflati...]]></description>
				<pubDate>Mon, 21 Jul 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9554</guid>
			</item>
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				<title>Blame Taxes for Baltimore's Rot (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9525</link>
				<description><![CDATA[If you've seen HBO's "The Wire," you know why those of us who live in Baltimore are often asked whether our city really is the hellhole it is portrayed to be on TV.

Our answer is, well, yes. Baltimore deserves the Third-World profile it has developed because it has expanses of crumbling, crime-ri...]]></description>
				<pubDate>Mon, 07 Jul 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9525</guid>
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				<title>Letter to the Editor: Greenback Is a Reason to Rejoice in Panama (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9517</link>
				<description><![CDATA[A letter to the editor of the Financial Times from Professor Steve H. Hanke.

Sir, In contemplating what would happen if Ireland were to leave the European Union (June 23), Wolfgang Münchau declares, in a sentence used as the article's "pull quote", that: "The Irish could use the euro if they want...]]></description>
				<pubDate>Mon, 30 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9517</guid>
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				<title>Zimbabwe: From Hyperinflation to Growth (Development Policy Analysis)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9484</link>
				<description><![CDATA[The hallmark of Zimbabwe's economic collapse is
hyperinflation. The most recent official inflation figure
is for February 2008: a whopping 165,000 percent
year-over-year. At present (early June 2008), inflation is unofficially
about 2.5 million percent a year. Not surprisingly, the
Zimbabwe dol...]]></description>
				<pubDate>Wed, 25 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9484</guid>
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				<title>Weak Dollar and US Petroleum Reserves Behind Strong Oil Price (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9490</link>
				<description><![CDATA[Early this year, the price of crude oil surpassed
its previous inflation-adjusted peak of $103.76 a barrel (a
record established in 1980). Since then, the price of crude
has been making new record highs on a regular basis. And
that’s not all. On June 6th, it surged by $10.58 a barrel – a record...]]></description>
				<pubDate>Wed, 25 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9490</guid>
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				<title>Letter to the Editor: Little More Than a Scheme to Destabilize Saudi Arabia (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9491</link>
				<description><![CDATA[In response to Martin Feldstein's June 17 Financial Times commentary "Saudi Arabia Should Ditch its Dollar Peg":


Sir, Martin Feldstein ("Saudi Arabia should ditch its dollar peg", June 17) favors replacing the riyal-US dollar peg with a "floating" riyal. This advice amounts to little more than ...]]></description>
				<pubDate>Wed, 25 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9491</guid>
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				<title>The Price of Rice (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9472</link>
				<description><![CDATA[From the Middle Ages onwards,
the fear of deficient harvests in
England and France immediately
produced pamphlets attacking
hoarders and speculators for
driving up prices.

In consequence, the statute books were stuffed with
laws prohibiting many of the activities that would normally
accomp...]]></description>
				<pubDate>Thu, 19 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9472</guid>
			</item>
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				<title>Commodity Snatchers (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9456</link>
				<description><![CDATA[Scary rice and oil prices have sent politicians to their bag of tricks. Not surprisingly, they have pulled out one that has been a staple since the Middle Ages: blame the speculators and hoarders. But the politicos should be pointing fingers at themselves. Governments around the world buy and store ...]]></description>
				<pubDate>Thu, 12 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9456</guid>
			</item>
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				<title>The Fed and the Price of Rice (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9452</link>
				<description><![CDATA[Rice prices have ratcheted up during the past three years. In the last year alone, they've more than doubled, sparking urban food riots in several countries. Politicians have been quick to blame speculators and hoarders. Their blame is misplaced.

The most recent rice price spike is partially the ...]]></description>
				<pubDate>Tue, 10 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9452</guid>
			</item>
			<item>
				<title>Greenspan's Bubbles (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9448</link>
				<description><![CDATA[Military history is written by the victors.
Economic history is written, to a large extent, by
central bankers. In both cases you have
to take official accounts with a large
dose of salt.

Just consider the bubble-blowing charges
leveled at the former chairman of the Federal
Reserve, Alan Gr...]]></description>
				<pubDate>Thu, 05 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9448</guid>
			</item>
			<item>
				<title>Jakarta's Fuel-Price Gauntlet (Commentary)</title>
				<link>http://www.cato.org/pub_display.php?pub_id=9447</link>
				<description><![CDATA[When Indonesia's President Susilo Bambang Yudhoyono took office in late 2004, one of the legacies bequeathed him by his predecessor was a big gap between the world oil price and the domestic price of subsidized petroleum products. After agonizing for several months about the large and growing burden...]]></description>
				<pubDate>Wed, 04 Jun 2008 00:00:00 EDT</pubDate>
				<guid>http://www.cato.org/weekly/index.php?vid_id=9447</guid>
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