Hidden almost all the way in the end of the first chapter of the IMF's latest Financial Stability Report, is a surprisingly candid discussion on the topic of whether "Rising Medium-Term Vulnerabilities Could Derail the Global Recovery", which is a politically correct way of saying is the financial system on the verge of crashing.
On the heels of San Franciso Fed Governor John Williams' warning that The Fed "doesn't want there to be excesses in financial markets... " Janet Yellen has reiterated her concerns that markets are a bit toppy...
White House budget director Mike Mulvaney has come out swinging at The IMF, after the establishment-sponsored organization threw shade at Trump's tax reform plan's growth expectations, accusing them of wanting the reforms to fail.
The angry response came after Vitor Gaspar, The IMF’s head of fiscal affairs, told the Financial Times:
I was not sure if I was going to write this article. I mean, why become a target of such a
powerful group with such a critical article. However, after watching such negative impact
from large pools of money deployed for self-determination purposes and what
appears to be abuse of powers and inherent resulting dangers, I am compelled to
do so.
Back in January 2016, we showed what the collapse of Venezuela looks like, when in addition to charting Venezuela's imploding currency (which back then was trading at a positive expensive 941 bolivars to the dollar), we presented what at the time was the IMF's latest Venezuela inflation forecast, which stunned us as it surged from 275% in the just concluded 2015 to a whopping 720% at the end of 2016.