[kitchencabinetforum] G20 JUNKET IS GLAD THAT LAUREL AND HARDY FORM A GOVERNMENT

G20 is relieved that Samaras and Venizelos, Laurel and Hardy of Greek politics, will form a government. Germany now indicates a readiness to give Laurel and Hardy of Greece more time to implement the tough economic reforms required under the 130 billion-euro European Union/IMF bailout.

Germans are footing the bill for Greek sins and Greeks aren't doing anything to stem the bleeding. Graecokleptocrats are not conscious of their responsibility for the difficult situation in Greece. It is a winking game. Graecokleptocrats pretend like they want to reform, and Eurokleptocrats act like they believed them. But now this arrangement has reached its elasticity point.

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Greeks, adding insult to injury, continue to play the victim and to look abroad for something to blame their own malaise on. Graecokleptocrats have been particularly focused on the Germans, showing their middle finger to them! Instead of reaping thanks for all the transfers of German taxpayer money, Germans are now forced to put up with a tongue-lashing.

G2 starts a two-day junket in the Mexican Pacific resort Los Cabos to prioritize growth and job creation as the path to bolstering a world economy that is running out of steam. Kleptocrats are often taking very expensive junkets, taking advantage of their positions and access to public funds to undertake pleasure trips thinly disguised as being of political importance. For example, a keptocrat might travel to Greece, claiming to attend a conference there, but leaving plenty of days to explore the Greek islands and Greek delights at leisure. http://venitism.blogspot.com

Kleptocrats, accompanied by their kith and kin, are going to junkets because they cannot miss a good party at taxpayers' expense. The worst thing that could happen in a junket is running out of caviar and hookers. Many junketeers use military jets that cost 10,000 euros per hour! Deputies of the European Parliament (EP), aka Eldorado of Prostitutes, love junkets!

Fourth Reich's progress toward lasting solutions for its debt crisis will be the focal point. The Greek vote has eased immediate uncertainty over a possible eurozone breakup, but the relief in financial markets could quickly evaporate. G20 wants Europe to be enslaved to Brussels, with an economic, fiscal, and political union. G20 going to continue to make the case.

Global junkets of kleptocrats fail to live up to the hype and the promises made.
A lot of money is spent laying them on. Host cities are disrupted for days or
even weeks. The cavalcades roll into town. Good intentions are shared in
productive talks. Then, somehow, those intentions rarely seem to come to
fruition in real, tangible global action. When kleptocrats meet again a year
later, they find things haven't really moved on. Spending two billion euros on a global junket is preposterous.

When kleptocrats meet each other on junkets, they exchange gifts paid by their
taxpayers. The most expensive gifts, and secret cash under the table, are
given by the Royal House of Saudi Arabia. That's why so many Eurokleptocrats
are eager to meet the Saudi princes! The ridiculous awarding of medals among politicians should be banned. It insults the intelligence of citizens. Medal swapping is as disgusting as wife swapping! http://venitism.blogspot.com

There will be progress made over the next couple days, but no one should expect a firm resolution. Hu Jintao asserts G20 should address the debt crisis in a constructive and cooperative way, encourage and support efforts made by Europe to resolve it and send a signal of confidence to the market.

G20 junkets are waste of money and time. Each G20 junket costs more than two billion euros, squandering the taxpayers' hard-earned money. G20 represents 90 percent of global GDP, 80 percent of world trade, and 70 percent of the global population, including key kleptocracies such as BRICS. This is far more inclusive and representative than G8, which the G20 has largely displaced, and more than adequate to make agreements to act collectively credible and effective. The issues on G20's burgeoning agenda are critical global problems, and solutions may indeed be fundamental to sustainable, balanced and inclusive growth in the long term.

Wang Qishan seeks further efforts from eurozone, Germany in particular, as stability in Europe is indispensable. Robert Zoellick calls it an absolutely critical time and warns Europe not to squander this opportunity for decisive action.

The two main threats to G20's effectiveness are political corruption and lack of domestic legitimacy within member kleptocracies. G20 is widely perceived by hoi polloi as transnational corrupt elites hatching plans behind closed doors in insulated centers of kleptocracy. Without genuine ex ante engagement to build trust and support with diverse domestic constituencies — labor, business, civil society, bloggers, and the members of parliaments that purportedly represent these different interests — kleptocrats will never have the space within the G20 to negotiate meaningful agreements.

Zoellick is waiting for Europe to tell G20 what it is going to do. The danger we're creating is the danger of policymaking that is increasing uncertainty and making markets more nervous, which has a negative feedback loop. G20 plans to double the IMF's firepower with an extra $430 billion in loans.

Kleptocrats go to G20 junkets with their hands tied, their positions determined in advance by their governments and a formal script that precludes meaningful and creative compromises. And the problem only increases once kleptocrats leave summits to return home. Bound internationally by public commitments, but without the ability to get those agendas enacted at home, the effective implementation of commitments is even weaker than the ability of kleptocrats to forge meaningful agreements in the first place.

G20 is expected to adopt a Los Cabos Action Plan, pledging to promote economic growth and jobs, investing in infrastructure and promoting trade, while sticking to its pledges to bring down budget deficits. To increase its legitimacy and its effectiveness, G20 needs to fight political corruption and improve transparency and accountability to the diverse constituencies that are ultimately impacted by the deals kleptocrats cut behind closed doors.

G20 as a kleptocratic body, and G20 member kleptocracies individually, need to develop stronger mechanisms to seek meaningful input and build consensus from the bewildered hoi polloi that ultimately must live with the consequences of kleptocrats' choices, corruption, and trade-offs. G20 will only continue to matter if it can prove itself capable of effectively confronting the threats most existential to people's livelihoods, especially political corruption, huge taxation, huge regulation, huge bureaucracy, persecution of dissident bloggers, and the cancer of socialism.

Hail! A sensitive issue cannot be fully explained in a post, but only in a speech, in that magic eyeball to eyeball contact, baring my soul, and declaring truths that cause shock and awe. That's why I look forward to the invitation of your organization to speak at your conference. Basil Venitis, venitis@gmail.com