Israel Matzav

Kerry's solution to world and US economic problems: Throw another $4 billion down the 'Palestinian' stinkhole

If all the money the Obama administration threw at unrealistic energy projects is called green slush, can we call this brown mud?

US Secretary of State John FN Kerry has now declared himself an economist. He has decided that the solution to the world's, the United States' and especially to Jordan's and Israel's (ironically, Israel has a stronger economy right now than either the US or Europe) economic problems is to throw another $4 billion down the 'Palestinian' stinkhole.

“The plan for the Palestinian economy is bigger and bolder and more ambitious than anything proposed since Oslo more than 20 years ago,” said Kerry as he spoke at the closing session of the World Economic Forum by the Dead Sea in Jordan.

President Shimon Peres and Palestinian Authority President Mahmoud Abbas also addressed the final session and sat next to each other in the first row of the large auditorium as Kerry spoke.

This economic plan is achievable and has the support of Abbas and Prime Minister Binyamin Netanyahu, Kerry said.

Quartet special envoy Tony Blair will head the initiative, with the help of the international business community.

According to Kerry, it will focus on developing the Palestinian private economy, a key ingredient for economic independence.

If actualized, he said, it could increase the Palestinian GDP by 50 percent over three years and cut unemployment by two-thirds, to 8% down from 21%. It would also benefit the economies of Israel and Jordan, Kerry said.

The effects could echo throughout the region and could be used as an international model for applying investment to make change, he said.

Investment in business, as well as in peace, could totally change life on the ground for this area, Kerry said.

“This will help build the future. Is this a fantasy? I do not think so,” he said.

What could go wrong?

Labels: Abu Mazen, Israeli economy, John Kerry, Palestinian economy, Shimon Peres, US economy, world economy

posted by Carl in Jerusalem @ 12:45 PM