Patrick Donahue, Andrew Mayeda June 12 2018
IMF Managing Director Christine Lagarde said the risks to the global economy are rising as major industrial nations sharpen threats of a trade war.
“The clouds on the horizon that we have signaled about six months ago are getting darker by the day -- and, I was going to say, by the weekend,” Lagarde said at a news conference in Berlin on Monday.
Her remarks follow a chaotic two-day meeting of the Group of Seven in which President Donald Trump shocked fellow leaders with his disregard for U.S. allies. After leaving the summit early, Trump tweeted he was pulling U.S. support from a joint statement and he accused the host, Canadian Prime Minister Justin Trudeau, of being weak and dishonest........To Read More....
My Take - The IMF is a by-product of Bretton Woods, and we're going to abandon the Bretton Woods concept. We're not going to be the world's economic pacifier any longer.
We.....owe...... them ....... nothing!
As for these snowflakes in government who are wringing their hands at how Trump is treating our "allies". Good! Let'em sweat, cry and whine. But now it's time to see how a real leader treats these leeches who would sell us down the river in a nanosecond. These countries have been - at best - leaky vessels as allies, and have treated the U.S. as an ally of convenience. We need to act accordingly.