Erik Townsend and Patrick Ceresna welcome Prof Steve Hanke to MacroVoices. Erik and Steve discuss the drivers of the recessions over the last 30 years and perspective on the Lehman Brothers failure. They further discuss the M4 Money Supply as the broadest measure, the dangers in quantitative tightening and commercial banks driving money supply. The further broadly discuss hyperinflation and emphasize the current hyperinflation in Venezuela.