Hello ladies, hello gentlemen, this is the Victor Davis Hansen show we are recording on Saturday July 16th. I'm Jack Fowler the host. Victor Davis Hansen the namesake and star is the Martin and Eli Anderson senior fellow with the Hoover.

Hoover institution Wayne and Marsha busky distinguished fellow in history at Hillsdale college later on we'll talk a little bit about his spectacular website Victor Hansen.

I've come in all the two plus three years have a long we've been doing these podcast Victor I never thought we'd ever at all talk about this or never mind start a podcast talking about this but that this is Sri Lanka.

But hey, it's not unimportant and we're going to talk about it and some related issues right after these important messages.

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We're back with the victory Davis Hansen show so Victor Sri Lanka has emerged as a maybe as a poster child for the insanity of several things green economy and reckless spending.

Let me read something here from Steve Hanky who wrote a piece a few days ago from when we're recording for national review and Hanky is a well known economics professor is a john Hopkins I know he taught it the California system Victor I don't know if you know him or him across the member but Sri Lanka has collapsed right now riots inflation is 112% nation is totally unraveling.

It had been a basket case for years it'd been this decades of civil war and that civil war stopped and then Sri Lanka actually emerged economically as kind of a wonder kind and it was growing significantly growing in middle class had two brothers though one is the president one's the prime minister I don't know if pronouncing the name right but Roger Posca though so the Roger Posca brothers have done the country dirty.

Here's what Hanky wrote the Roger Posca's government spent freely running large deficits and piling up government debt the central bank of Sri Lanka became a great facilitator indeed in 2020 the banks governor said the fears around debt sustainability appear to be unfounded as rupee denominated bonds were within the sovereign power money could be printed to repay them as indicated by ideas like the banks.

This is not an important modern monetary theory so there you have it for the first this is Hanky still for the first time a governor of a central bank publicly and explicitly embraced modern monetary theory with that the rupees sank like a stone Sri Lanka hemorrhaged foreign exchange reserves the central bank attempted to stem the flow with ever tighter exchange controls but to know about Victor one or two other things the nation is spent through all its whole

things it has a massive debt and a lot of this has been driven by this crazy ass idea which is not limited to Sri Lanka it's global the country would be come 100% organic right 100% organic means for most of the farmers in the world in its real

you're out of business so we have this modern monetary theory madness we have this overlaid with the screen madness and what it has done is has destroyed a growing vibrant country and do it's a Sri Lanka.

I guess it could happen anywhere maybe even the country were home to so Victor I'd like to have your thoughts on that and then after that we're going to get into some of these European associated issues with the Dutch who are also the Dutch farmers being tormented by the

screen S O B's your thoughts. Yeah a couple of things is remember how the left would get very angry because they said that big forma when they and they still do apparently when they have a new drug out it's too expensive or too

controversial or too subject to legal action to have a double blind study in the United States so they go to places in South America or Africa and they try this drug out because the left says you

know what they're doing and what they're doing is they're trying to make sure that the left does the same thing only they do it with climate change and

renewable energy and quote unquote non manufacture farming or whatever non industrial farming or back to the land farming organic on whatever term they use.

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