by Pater Tenebrarum, Acting-Man.com:
Apoplectic Ambrose Evans-Pritchard Sings from IMF Hymn Sheet
AEP, who thinks central banks should print us all to Nirvana lest the dreaded deflationary depression sinks our ship, is lately firmly in the grip of tapering paranoia (this is not a recognized clinical condition yet; give it time). First he feared publicly for emerging markets, several of which are on the cusp of balance of payments crises. Let’s see: when the Fed’s printing seemed to feed imbalances there, a consensus emerged that this was one of the negative effects these countries could do without. They themselves kept saying so, but their tune has of course changed in the meantime (even former vocal ‘QE’ critic China now ‘warns’ the Fed not to release the print button too soon).
Please follow SGT Report on Twitter & help share the message.