WASHINGTON, March 14 (Reuters) – World Bank President David Malpass on Monday warned people and businesses against hoarding food and gasoline despite the surge in prices sparked by Russia’s invasion of Ukraine and massive sanctions imposed on Moscow.
Malpass told a virtual event hosted by the Washington Post newspaper the sanctions would have a bigger impact on global economic output than the war itself. But he said that based on current assessments, he does not anticipate the crisis ending the global recovery and reducing global GDP.
He said he expected a robust response by producers around the world to increase supplies as needed, and saw no need for people to have extra stockpiles in their kitchens or restaurants.
He said he anticipates big increases in supply of energy outside of Russia and food outside of Russia and Ukraine that will ease the impact of war-driven price spikes and help sustain recovery.
He said that energy supplies may be increased faster than food supplies, given that agricultural adjustments typically take about a year.
“The right thing to do in these current circumstances is not to go out and buy extra flour or extra gasoline, it’s to recognize that the world is a dynamic global economy and will respond. There’ll be enough to go around.”
Stack it high and deep, these motherfuckers are lying through their teeth.
They don’t want to run short, so don’t let the dirt people get too much.
Also makes me wonder if Ethanol was also motivated by distributing a type of gas that only lasts a couple months. Probably a give away to the corn producers too. Doesn’t have shit to do with anything else.
2 for me…1 for you. 2 for me…1 for you.
I find what works best is to do the exact opposite of what they say to do.
Exile1981
Yet another example: when the self-declared “elites” tell you anything, the truth is exactly the opposite.
Stack it high and deep!
Well, I certainly feel safer now.
Show’s over folks, lets head on home.
Just like the Dumbocrats, pay attention to what they are NOT saying!
Just saying…
The evil W’s
Anything with W in its name, World is the worst.
Comedian Chrissy Mayr had some T-shirts made up that say “Rootin’ for Putin”. Her reasoning? “I don’t claim to understand everything that’s going on over there. But when all the worst people are against him, you’ve got to suspect that he’s right.”
Never heard of this David Malpass guy. Hmm, let’s see what Wikipedia has to say. Hmm te tum tum. Hmmm. […] G-ddamn it!
Ha ha, like I’m going to listen to anything they recommend. As others have expressed, stack it higher and deeper.
wes
wtdb
ps Phil, sent you a pdf. did it come through?
Yes it did. I haven’t had a chance to dive into it yet. Thanks,!
Bet he has warehouses stacked with his supplies, but doesn’t want any competition in the market when he builds new warehouses.