UPDATED: The struggling global economy is addicted to the FED's QE pumping and . . . ‏

... and as the pusher cuts the supply the emerging economies - even India - verge on collapse:

[FOLLOW UP POST TO BELOW]

Turkish Skyline Illustrates Peril of Booms Built on Weak Dollar

Even optimists are growing nervous over the rapid accumulation of dollar-denominated debt in emerging economies, as the Federal Reserve weighs whether to begin to tighten its monetary spigot.

AND THIS:

Fear of Fed Retreat Roils India

Economic Weakness in Developing Nations Is Laid Bare as Easy Money Dries Up

The U.S. Federal Reserve's plan to reduce monthly bond purchases is exposing the deep-seated fragility of India's economy, unnerving investors and underscoring the risks to emerging markets at a time of rising global interest rates.

India's stock market closed slightly lower Tuesday, after two days of steep declines. The rupee hit yet another fresh low against the dollar.The malaise in India is the latest global ripple effect from a shift being considered at the U.S. central bank, following nearly five years of exceptional policy support for the American economy and financial markets.

During the era of low rates that followed the global recession, developing nations such as India, Indonesia and Thailand had no trouble attracting capital to boost growth. Imports soared as Asian consumers ran up debt to fuel purchases.

But as their export engines have sputtered, because of China's slowing growth and uneven demand in the U.S. and Europe, these economies have started to run large current-account deficits, which occur when imports outweigh exports. As investors begin demanding higher returns for taking on risk, nations with large economic imbalances are getting punished.

"These economies definitely look suddenly a lot less impressive," said Frederic Neumann, an economist with HSBC in Hong Kong. "Investors have woken up to the fact the Fed is serious about tapering," or reducing bond purchases.

BERNANKE'S QUANTITATIVE EASING WAS A MISTAKE AND IT WILL SOON CAUSE THE GLOBAL ESS TO HIT THE GLOBAL EFF.

Better brace yourselves....

UPDATE: THE USA IS ADDICTED TO THE FED, TOO.