Liberal Twitter CEO Jack Dorsey shocked the Twitterverse with a warning about impending hyperinflation in the world, and predicted it would soon hit the United States.
Twitter went berserk, with over 3,600 retweets and over 15,000 likes just over an hour after the tweet was posted.
Oviosu wrote: “Yup…we live with this built in our mental models in Nigeria…inflation is currently 16%.” Dorsey quickly wrote back: “It will happen in the US soon, and so the world.”
Dorsey was slammed by leftist media types on Twitter, with everything from accusations of being “functionally illiterate about macroeconomics” to flat out rejections of his prediction.
Dorsey may be entertaining a libertarian economic view of the world economy. In August, he shook up Twitter by tweeting a link to economist Murray Rothbard’s book, Anatomy of the State. Dorsey’s sudden involvement in the inflation debate could be a continuation of that trend:
Hyperinflation is going to change everything. It’s happening.
— jack⚡️ (@jack) October 23, 2021
The Washington Post even conceded recently on inflation that “American families and businesses are altering their habits as they increasingly believe high prices are here to stay.”
It will happen in the US soon, and so the world.
— jack⚡️ (@jack) October 23, 2021
The Twitter reactions to Dorsey’s red-pilled tweets were a mix of shock, fear, anger, dismissal and support.
Former Libertarian Party presidential candidate Austin Petersen expressed his solidarity with Dorsey’s sentiments: “Thank you for saying this, yes you are correct.”
He continued: “You tweeted Anatomy of the State recently. Please read more of those same ideas and share them with your audience. Please read Hayek, Bastiat, and Hazlitt you will be glad you did. If you already have, please share.”
Thank you for saying this, yes you are correct. You tweeted Anatomy of the State recently. Please read more of those same ideas and share them with your audience. Please read Hayek, Bastiat, and Hazlitt you will be glad you did. If you already have, please share.
— ??Austin Petersen ??? (@AP4Liberty) October 23, 2021
Several media figures criticized the prediction.
Narrator: Hyperinflation was not happening https://t.co/HLY8AxxMDa
— Felix Salmon (@felixsalmon) October 23, 2021
2/ step back and it’s disturbing that a lot of most powerful financial figures/oligarchs are invested, literally and figuratively, in various huckster schemes and libertarianish fantasies of state and civilizations collapse.
— Josh Marshall (@joshtpm) October 23, 2021
NBC News Business Correspondent Stephanie Ruhle tried to gaslight Twitter users by suggesting Dorsey had ulterior motives in mind: “Conveniently – crypto is a fave inflation hedge & jack loves crypto.”
Conveniently – crypto is a fave inflation hedge & jack loves crypto https://t.co/ynM88fzwuV
— Stephanie Ruhle (@SRuhle) October 23, 2021
An incredibly revealing tweet. https://t.co/l1lKeC8vQE
— Chris Hayes (@chrislhayes) October 23, 2021
Human Rights Foundation Chief Strategy Officer Alex Gladstein accused that anyone shocked by Dorsey’s tweet was living in a “bubble of financial privilege” and noted inflation as “one of the world’s biggest humanitarian crises.”
Those shocked by this tweet live in a bubble of financial privilege.
*1.3 billion* live under double, triple, or quadruple-digit inflation: Turkey, Nigeria, Ethiopia, Iran, Lebanon, Venezuela, Cuba, Sudan, and beyond.
It’s already one of the world’s biggest humanitarian crises. https://t.co/P83opDagdu
— Alex Gladstein ? ⚡ (@gladstein) October 23, 2021
Tufts University Professor of International Politics Daniel Drezner tried to use his own experience in Ukraine to arbitrarily dismiss Dorsey’s tweet: “I lived through actual hyperinflation in Ukraine in the early 1990s. This ain’t it mate.”
I lived through actual hyperinflation in Ukraine in the early 1990s. This ain’t it mate. https://t.co/9fOlK7THcO
— Daniel W. Drezner (@dandrezner) October 23, 2021
Dorsey had recently come under fire for trolling Congress on Twitter during a live hearing on “misinformation,” according to Reuters. Twitter has become notorious for silencing conservatives and banning President Donald Trump. In addition, Twitter actively interfered in the 2020 election by censoring the Hunter Biden laptop story.
Conservatives are under attack. Contact ABC News (818-460-7477), CBS News (212-975-3247) and NBC News (212- 664-6192) and demand they report Dorsey’s tweets on inflation during their Oct. 25 evening broadcasts.