Imagine the arrogance to think these problems could be solved "at a stroke" and half of the $7 Trillion comes from
...an international market to trade pollution permits that would encourage rich countries (meaning the US) to cut pollution and hit their targets under the Kyoto protocol.A second major amount "of untapped wealth" of $2.9 Trillion could be unlocked byBut - and the UN admits it is a big "but" - the US would have to sign up to Kyoto and carbon trading to achieve the $3.64 Trillion that it believes the system would deliver over time.
SPECULATIVE INVESTORS:Another major amount "of untapped wealth":Poor countries suffer most from swings in investment tastes by the big global investors that means money can leave as soon as it arrives.
SOLUTION: Enable countries to buy "insurance policies" against big swings in growth that would ensure that they did not have to cut public spending every time. In 1997 it wreaked havoc across South-east Asia.
SAVING: $2.9 Trillion
Once great nations such as Brazil and Argentina were reduced to the status of beggars after poor economic policy combined with debts with national and international lenders.There is no untapped wealth here! This scheme involves extorting money from the rich countries (USA) and piling up more debt, so they do not have to cut public spending. You may say "it will never happen", but these people at Davos, who believeSOLUTION: A system to enable countries to take loans linked to their average economic growth rate to ensure that they do not have to cut public spending to raise the money to borrow needed funds during the hard times.
SAVING: $600 Billion
the nation-state is an old-fashioned concept that has no role to play in a modern globalised worldhave a 20 year time frame and it is hard to maintain vigilence for all that time. Then there is the moderate who will compromise our Constitution away.
Update: See Michelle Malkin for a look at the star-studded "bloviating" attendees along with "bloviator" William Jefferson Clinton.
