Twitter CEO Jack Dorsey warns of hyperinflation in the USA and the world-economy

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Jack Dorsey, CEO of Twitter and Square, warned that hyperinflation will soon occur in the USA and elsewhere in the world. "Hyperinflation will change everything. It happens," he predicted. However, many people disagreed with him.

The USA will soon experience hyperinflation, says Twitter CEO Jack Dorsey

The CEO of Twitter and Square Inc., Jack Dorsey, tweeted a warning about hyperinflation in the USA on Friday. "Hyperinflation will change everything. It happens," he wrote.

Comments flooded his tweet. At the time of the letter it received more than 7,000 comments and was liked to go 70.1k and 22.9K times. In a follow-up tweet, Dorsey emphasized: "It will soon happen in the USA and thus also in the world."

The tweet of Twitter COS came when consumer prices in the United States approach a 30-year high and there are increasingly concerns that the problem could be worse than what the political decision-makers have listed. The chairman of the US Federal Reserve, Jerome Powell, admitted on Friday that the inflation pressure "will probably last longer than previously expected" and "could take far into the next year".

However, many people did not agree with the Twitter boss that hyperinflation will occur in the United States. Patrick Horan, program manager for monetary policy at the Mercatus Center at George Mason University, said: "There is no hyperinflation in the United States." His colleague Lawrence White, business professor at the same university, interfered: "What happens is a higher inflation, no hyperinflation (except in Venezuela). It is a shame that Twitter Jack does not allow to edit his tweet."

Daniel Drezner, professor at the Fletcher School at Tufts University, noted: "In the early 1990s I experienced a real hyperinflation in Ukraine. This is not buddy."

The economist Steve Hanke, a Bitcoin skeptic who praised as an expert in inflation and hyperinflation, commented: