Thursday, March 17, 2005

World Bunk
Some disconnected thoughts connecting.

Paul Wolfowitz (Currently US Secretary for Defence) has been nominated by Bush II to be President of the World Bank. There is no settled ‘constitutional’ procedure for appointing a World Bank head but by habit the US President nominates an US Citizen and the other World Bank trustees agree (even if the choice is pretty arbitrary and the president is clueless on the World Bank). By similar tradition the IMF is headed by a non-US citizen, I believe, but that gentleperson's agreement was scuttled by President Clinton who blocked a German nominee for IMF head. So should the EU for one feel free to object to Wolfies appointment? Would this act of international disobligation cause knock-on problems when the UN Secretary-General comes to the end of his current term?

The US National Debt is increasing by $2,270,000,000 per day (that’s $2.27 bn in mumblespeak) and counting...

I see nothing in Brown’s Budget planning for the consequences of economic meltdown in the US. Should we be doing this?

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