The Ashanti Regional Chairman for the New Patriotic Party (NPP), Mr. Bernard Antwi-Boasiako, has stung Professor Steve Hanke over his failure to foresee the collapse of Silicon Valley Bank.
Mr. Bernard Antwi-Boasiako popularly known as Chairman Wontumi, poked the US based professor for not having the intelligence to know a bank closer to him would collapse but quick to share his thoughts on the economy of Ghana which is miles away from where he stays.
According to a BBC report, Silicon Valley Bank – which specialised in lending to technology companies – was shut down by US regulators who seized its assets on Friday. It was the biggest failure of a US bank since the financial crisis in 2008.
It had been trying to raise money to plug a loss from the sale of assets affected by higher interest rates. Word of the troubles led customers to race to withdraw funds, leading to a cash crisis.
But Chairman Wontumi used the happening to reiterate his point about how daft Professor Steve Hanke is noting that “You couldn’t advise one of the largest banks in USA but you want to talk about Ghana’s economy? How can this man come to Ghana to advise us? He is a hypocrite and the Judas of economics”, Chairman Wontumi said to Wontumionline.com.
Professor Steve Hanke has constantly been sharing his opinion about Ghana’s economy and claims to have a certain dashboard his uses to calculate our inflation.
However, a quick check about Professor Steve Hanke on the internet shows that he only shares weather reports about other western countries and doesn’t talk about the performance of their economy.