IMF says world one shock away from crisis.

[Guest guest]

http://www.bbc.co.uk/news/business-13108166

The president of the World Bank has warned that the world is "one shock away from a full-blown crisis".

Zoellick cited rising food prices as the main threat to poor nations who risk "losing a generation".

He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.

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The food crisis has been building up for some years, longer if you add a few generations of rapid population expansion in countries with poor agricultural potential. The Biofuels craze isn't helping either. The US is turning much of its corn crop into ethanol and China is buying up other crops to make into fuel. Back in the day there was a similar crisis when the number of draft animals increased. The difference there was that when the animal was worn out it could be made into food or other products and they produced waste which could be used as fertilizer or to make methane. Ethanol is only good once.

The global economy is also shaky in no small part because of how much harm a few crooks have done in the financial industry. Corrupt politicians who don't know anything about economics have done more.