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The Jay Martin Show
Bidenomics and the Fed: Did the Elites Get Richer? Hanke Explains
Nov 17, 2024
Steve Hanke, a Professor of Applied Economics at Johns Hopkins University, shares his expertise on wealth inequality and the effects of the Biden administration's policies. He discusses how reckless fiscal expansions have primarily benefited the wealthy, fueling public resentment. Hanke also provides insights into global conflicts and their economic impacts, alongside investment strategies. His recommendation? Shift towards gold and U.S. Treasury bonds for safety amid market turmoil, proving valuable wisdom for investors in uncertain times.
01:02:44
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Quick takeaways
- Professor Steve Hanke critiques Biden's fiscal policies for worsening wealth inequality and benefiting the elite, raising public resentment.
- Hanke advises investors to prioritize safer assets like gold and U.S. Treasury bonds amid market volatility and inflation concerns.
Deep dives
Market Reactions and Predictions
The podcast discusses the aftermath of a pivotal election, emphasizing the immediate market rally which is interpreted as a reactionary response rather than a definitive paradigm shift. Professor Steve Hanke highlights how prediction markets, which forecast Trump’s electoral success with precision, contrasted sharply with the inconsistent polling data that depicted a toss-up. Hanke criticizes mainstream media's portrayal of the election, asserting that a significant portion of reported information is subjective and unreliable, which aligns with his '95% rule'. Ultimately, this illustrates a broader public discontent with perceived media and elite establishment biases, suggesting that voters acted out of resentment against these influences.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode