IMF Says It Is Prepared To Feed The World’s Hungry (While Invoicing US Taxpayers For Its Services)
by Tyler Durden
In a report released earlier summarizing the fund’s findings from the irrelevant G-20 meeting over the weekend, “Global Economic Prospects and Policy Challenges”, the IMF finally acknowledges what pretty much everyone has been warning about for over two years now. Namely: “From an external perspective, however, there is concern that quantitative easing in the United States could result in a flood of capital. In economies where recovery is already well established, policymakers will need to pay increasing attention to building inflationary pressure. Central banks should continue to stand ready to address liquidity problems in the banking sector, particularly in the euro area.” Actually the liquidity area that should be addressed is that in the 3rd subbasement of the Marriner Eccles building where the printers work on full blast 24/7. Furthermore, the IMF points out another glaringly obvious factoid of today’s global ponzi economy, namely the Chinese property bubble: “Residential real estate prices in some of China’s larger cities have risen rapidly since the crisis, spurred initially by stimulative policies aimed at easing restrictions on real estate lending and subsequently by strong income growth, high savings, and limited alternate investment vehicles. While it is difficult to predict how significant the stress from potential property price correction would be, if these risks are realized, there could potentially be global ramifications.” But arguably the most interesting observation in the report is that the ongoing tsunami of Fed-driven food price surges across the world, in most cases leading to outright revolution, will end up being invoiced to… you – dear US taxpayer.