Coffee and a Mike Dave Collum and Steve Hanke #1284
Jan 6, 2026
Steve H. Hanke, an expert in inflation and regime-change economics, joins Dave Collum, a Cornell chemistry professor with a knack for critical humor. They dive into the complexities of Venezuela's political landscape, exploring Maduro's removal and the motivations behind it. Hanke explains his innovative methods for measuring hyperinflation, while also critiquing the effectiveness of past U.S. interventions. The conversation also touches on the implications for Cuba and the challenges of foreign investment in a politically volatile region.
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Inside Military Operation Removed Maduro
- The Venezuela operation was a long-planned, inside military operation that removed Maduro without heavy fighting.
- Steve H. Hanke argues it succeeded by paying off the military and executing a covert regime-change style mission.
Sanctions Often Strengthen Targets
- Hanke measures Venezuela inflation daily via a PPP model using black-market exchange rates.
- He reports Venezuela's inflation at about 923% per year and attributes regime survival partly to sanctions' rally-around-the-flag effect.
Regime Changes Rarely Work Historically
- Regime changes after WWII rarely succeed and come in three types: offensive, preventative, and hegemonic.
- Hanke frames the Venezuela event as a covert hegemonic operation consistent with historical U.S. precedent in Latin America.
