Twitter CEO Jack Dorsey may have just forewarned of coming hyperinflation in the United States, followed by the rest of the globe.
In the early hours of Saturday, Jack Dorsey, the CEO of Twitter and Square Inc., took to Twitter to issue a warning about impending hyperinflation in the United States. He expressed himself as follows:
Hyperinflation is going to change everything. It’s happening
However, the Twitter CEO‘s post isn’t exactly surprising, especially given that consumer price inflation in the United States is nearing a 30-year high.
The post came after Federal Reserve Chairman Jerome Powell acknowledged the situation on Friday. Powell acknowledged that inflationary pressures are likely to last longer than previously anticipated, stretching far into the following year.
Meanwhile, many individuals have expressed dissatisfaction with Jack’s forecast thus far, while others have expressed agreement with the article.
Daniel Drezner, a professor at Tufts University’s Fletcher School who claims to have lived through genuine hyperinflation in Ukraine in the early 1990s, vehemently disagreed. “This ain’t it, mate,” he simply stated.
Another economist, Steve Hanke, a bitcoin sceptic who also claims to be an authority on inflation and hyperinflation, had some comments. He believes that throughout the history of the globe, there have only been 62 confirmed hyperinflations, and that no country is now experiencing hyperinflation of any kind.
He went on to say that Jack should know better than to tweet carelessly, especially when making public pronouncements.
However, other people accepted Dorsey’s warning and agreed with him, writing, “Thank God for bitcoin,” while stressing that BTC would inexorably become the world’s reserve currency.
Alex Gladstein, the Human Rights Foundation’s chief strategic officer, weighed in on Dorsey’s hyperinflation tweet. Only a select minority of the wealthy will be surprised by the truth of Jack’s post, according to him.
He went on to say that almost 1.3 billion people in countries like Nigeria, Iran, Turkey, Ethiopia, Cuba, Sudan, Lebanon, Venezuela, and others are already experiencing double, triple, or four-fold inflation. Gladstein claims that the globe is already in the midst of one of the world’s worst inflation crises.
