The IMF, Greece and Other Calamities. . .

If Things Can Get Worse, Apparently They Will Get Worse

Just when we thought everything in international finance that could happen had happened this comes along.

http://www.washingtonpost.com/business/economy/imf-head-taken-into-custody-in-new-york-questioned-over-sex-assault/2011/05/14/AF8Tfj3G_story.html

There is obviously a potentially tragic human story here, which we will leave for others to comment on.  As far as the world economy is concerned, this could be devastating as the IMF is critically important in stabilizing European economies.  As the situation in Greece deteriorates markets need all the confidence they can get.  This will not help.

The WP reports on growing discontent in Greece over the austerity that has been imposed on that country as terms for the bailout.

http://www.washingtonpost.com/world/europe/in-greece-austerity-kindles-deep-discontent/2011/05/05/AFUQGy2G_print.html

Just what did anyone expect was going to happen?

Kathleen Parker writing in the WP reports on Mitt Romney’s health care speech in which he tried to say that his plan in Massachusetts was such a great plan that it should NOT be required for any other state.

http://www.washingtonpost.com/opinions/mitt-romneys-preemptive-strike/2011/05/13/AF4nDz2G_story.html?hpid=z5

Here is what she said

Romney’s central point was that what’s good for one state may not suit another and that states should have the freedom to choose what works best for them rather than have to conform to a federal one-size-fits-all plan.

Like everyone else who has tried to defend Mr. Romney she is unable to name a single difference in the various states that would cause a plan to be good for one of them and not be good for all of them.  The verbal gymnastics continue, and Mr. Romney can only hope that he is not in next week’s Doonesbury.

Peggy Noonan, writing in the WSJ

http://online.wsj.com/article/SB10001424052748703864204576319723962470838.html

likes Chris Christie and Mitch Daniels.  The appeal is clearly that the two have taken on public employees and their unions.  She seems to favor Mr. Christie over Mr. Daniels, and while she does not say so, it may be because while both are anti-public employee, Mr. Christie seems to take particular pleasure in the position, while Mr. Daniels seems to do so as a matter of governance.

There may be panic in the WSJ since their favorite, Mr. Christie has said he will not run for the Presidency, and Mr. Daniels may not run.  This would leave them with Mr. Romney, and that’s a lot of crow to eat.