G20 will obviously fail, WTO, IMF probably can’t function either…

22. April 2022

As in pro­bab­ly can’t be kept functioning.

Ah, our good friends in the US are play­ing poker again. So far it’s only Jacob Kir­ke­gaard - who usual­ly is in the ‘know not­hing, talk in extre­mes’ role in tho­se sort of panels, but hey - somehow you have to keep the nar­ra­ti­ve up, that the majo­ri­ty of the world is very much inves­ted in hol­ding rus­sia accountable.

A very NICE asi­de pre­sent is, the collec­ti­ve G.M.F panels idea on how to deal with the world food (and fer­ti­li­zer) shor­ta­ge (the head­line topic): Hold more meetings.

Have to stop watching tho­se panels and do some­thing more worthwhile ins­tead. May­be I’ll pick up sta­ring at goa­ts, or something.

At least they fall down once in a while.

Moneyshot at 15:53 in, when four panelists look eit­her asha­med, or depres­sed, Jacob Kir­ke­gaard is ran­ting that the IMF has to stop its work, and Ian Les­ser loo­ks off came­ra and does some­thing else - becau­se you dont have to ack­now­ledge tho­se ramb­lings, do you?

And if it turns out, that you do - I call dibs on being first. 😉

Tur­kish panelist:

Any mista­ke in mone­ta­ry poli­cy com­ing from Euro­pe, has the poten­ti­al to drag Euro­pe into reces­si­on. And infla­ti­on is high and growth is under pres­su­re. […] the war bro­ke out while Euro­pe was reaching its pre pan­de­mic pro­duc­tion levels, the­re­fo­re - rather than infla­tio­na­ry demand, the­re is more sup­ply side infla­ti­on in Euro­pe and in this regard, euro­pean eco­no­my is esti­ma­ted to grow almost half of the last year […], lets say 2.8% over last years 5.4% GDP growth. In this regard we are watching the magnitu­de of the pres­su­re on euro­pean growth very clo­se­ly, which could pos­si­b­ly hurt regi­ons like Tur­key, whe­re - 50% of our exports are lin­ked to Euro­pe. […] This is the most likely eco­no­mic risk we are facing right now.”

Neat. (Oh, and a 200 bil­li­on dol­lar for­eign finan­cing need for Tur­key this year, ‘while access beco­mes more expen­si­ve in terms of quan­ti­ty and pri­ce’. Someo­ne has got to reco­gni­ze that as an opportunity…)

edit: Pro­bing ques­ti­on, on how Tur­key would react to fee­ling the impact of secon­da­ry sanc­tions (com­pa­nies tra­ding with rus­sia being sanc­tion­ed), Tur­key doesnt see it as pro­ble­ma­tic. As an aus­tri­an - this is sca­ry stuff. The­re is a cla­ri­fi­ca­ti­on short­ly after, that this pro­bab­ly would not be tar­ge­ted at euro­pean coun­tries, but against coun­tries and cor­po­ra­ti­ons who might buy rus­si­an ener­gy. (Espe­cial­ly in rubel, i presume).

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