Quote of the day, from “Mish“. First, Mish quotes this article about China refusing to help the IMF bail out Europe.

The IMF is proposing an expansion of its lending resources to safeguard the global economy against any worsening of Europe’s debt crisis, according to an official at a Group of 20 nation. The lender is pushing China, Brazil, Russia, India, Japan and oil-exporting nations to be the top contributors

Then comments, “That the IMF feels the need to make such a request should not be anything to cheer about. Indeed, there has been so much orchestrated “good news” that I can’t help wondering if the bottom is about to fall out of the market.”

via Mish’s Global Economic Trend Analysis: IMF Proposes Trillion Dollar Lending Expansion.