Magic Walrus in action at the G20 meeting

Some investors were calling for a coordinated currency intervention when officials from the world’s top economies met recently. Instead they got an agreement to “consult closely” with each other on exchange-rate polices.

No big deal? U.S. officials see it differently, framing the resolution as an important commitment that could help prevent a cascade of global exchange-rate depreciations.

“There won’t be any surprises. We won’t see countries acting in a way that could trigger the kind of competitive devaluation that leads to potentially a currency war,” U.S. Treasury Secretary Jacob Lew said Tuesday.

U.S. officials pushed the language early in the G-20 talks as part of their effort to preempt the type of volatility that has rocked markets over the last year amid historic capital outflows from emerging markets.

In the first sentence,  what do we see? A bunch of welfare bums reqiuesting currency insurance from delusional policians at the G20 meeting.  Tell the , mostly American investor bums, that it is  none of the politicians business to control currency volatility.

Then we have the master of delusion, Jack Lew, the US Secretarty of Treasury, telling us that he wants orderliness I have news, without volatility the imbalances build, and the big politicos will be without functioning governments.

You can read the article, and what you are seeing is Jack and the delusionals prepping a big recession.  I suggest we eat some volatility today and blow off some imbalances with a mild recession.