WEF 2010 The NEXT Global Crisis [Wed AM]

Barney Frank - US Congressman; Chair Financial Services Committee
Jacob Frenkel - Chairman, JPMorgan Chase
Lord Levine - Chairman, Lloyd's
Anand Mahindra - MD, Mahindra & Mahindra
Kenneth Rogoff - Professor, Harvard University
Zhu Min - Deputy Governor, The People's Bank of Chaina
Maria Bartiromo - CNBC Anchor

Back to the Future: the next global crisis
this had a really slow start and was a very weak session. moderator was a poor facilitator and the sound was challenging...ie feedback and too soft..

Barney Frank opened with the need for a military reduction and no concern for US debt. He is a one liner. and wants to downsize the military and downsize the expectations. he also plans to cancel the manned spaceship to mars and the agricultural subsidies.

we need to focus on the next war. we have to focus on security. especially the relationship between China and the US. this will become more significant and will create a problem for hard and soft power.

the idea that we can grow our way out of this situation is simply Vodoo economics. the public is not ready for the reality of the economics.