The U.S. government did not file an amicus brief with the Supreme Court, despite its filing in the appellate case. And -- here is the big mystery -- neither did the IMF, even though it has publicly expressed concerns about the impact of that ruling.
Cristina Fernandez de Kirchner, Argentina's president has found herself in the middle of an economic and political minefield and the map she is using has been proven to be outdated, inaccurate and explosive.
It is interesting that Argentina has had such remarkable economic success over the past nine years while receiving very little foreign direct investment and being mostly shunned by international financial markets. Maybe that's another reason why Argentina gets so much flak.
If the U.S. government creates a permanent, voluntary public employment program that offers a living-wage job to anyone willing and able to work in a public service project, unemployment will be addressed directly.
Total financial collapse, once a problem only for developing countries, has now come to Europe. The International Monetary Fund is imposing its "austerity measures" on the outer circle of the European Union.