France willfully setting itself up for failure

posted at 12:01 pm on July 5, 2012 by Erika Johnsen

France’s socialists recently gained a sizable majority of their parliament, as well as electing the ultimate champagne socialist to the presidency. I’m enjoying following the French beat, not because I take any perverse pleasure in watching countries suffer and stagnate beneath the myriad opportunity costs and petulant ineptitudes of socialism — but rather because the way this is all going to play out is just so utterly, laughably, painfully predictable. It’s not going to work out according to your sanguine, reality-negligent plans, I can promise you that much, France:

France’s new Socialist government announced tax rises worth 7.2 billion euros on Wednesday, including heavy one-off levies on wealthy households and big corporations, to plug a revenue shortfall this year caused by flagging economic growth. …

An extraordinary levy of 2.3 billion euros ($2.90 billion) on wealthy households and 1.1 billion euros in one-off taxes on large banks and energy firms were central parts of an amended 2012 budget presented to parliament. …

The budget followed a grim assessment of public finances on Monday by the state auditor, which warned that 6-10 billion euros of deficit cuts were needed in 2012 and a hefty 33 billion in 2013 for France to avoid a surge in public debt dragging it into the centre of the euro crisis.

One of the highest state spending levels in the world has raised France’s debt by 800 billion euros in the last 10 years to 1.8 trillion – equivalent to 90 percent of GDP, the level at which economists say debt starts to hinder economic growth.

It infuriates me that Europeans are busily denouncing the “failed” “conservative” policies of recent leadership, and the mere word “austerity” is treated like the plague — you haven’t had conservative leaders, and you certainly haven’t had austerity. You’ve had slightly-less-progressive governments making very tiny budget cuts and shuffling money around. Quit pretending like you’ve actually made any real efforts at encouraging economic growth rather than appeasing your populace with the promise of more free stuff. Punishing the wealthy isn’t a real long-term solution, it’s a populist ploy that’s going to amount to a drop in the bucket.

Honestly, France — start taxing the heck out of your country’s financial movers and shakers, and what do you think is going to happen?

More than the 75 per cent rate, it is a move to higher wealth and inheritance taxes that worries him – and what he perceives as a cultural hostility to the rich. “The anti-wealth rhetoric is just not encouraging. I’d rather be in a country where I don’t have to deal with that,” he says.

It is not just expatriates who are concerned. Henri de Castries, head of Axa, the insurer, is one of France’s most respected business leaders. “I’ve listened to Mr Hollande. He wants to see more growth and lower employment. He wants to see business prospering. We want to see that, too,” he says. “The question is how to achieve these goals? There is no example, in modern economic history, of a country that has succeeded in reducing its deficits by bringing taxes to a confiscatory level. On the contrary, it leads to a decline in activity, and an increase in the deficits.” …

The leader of Europe’s second-biggest economy – the only leading EU state headed by a socialist – has made waves across the continent with his determination to shift the focus of the battle against the eurozone’s crippling sovereign debt crisis from German-led austerity to promoting growth.

There’s a very good reason that these countries are so eager to “go global.” As Margaret Thatcher once famously said, “The problem with socialism is that eventually you run out of other people’s money.” Well, countries like Spain, Italy, and France have reached that point when they’ve run out of their own money — so now they want to “go global” so they can keep living their unsustainable, comfy lifestyles without having to reform. The eurozone affords them a larger pool from which they can take and subsequently burn through money. Eventually, however, that’ll run out, too — how long can this madness go on?


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French toast!

Electrongod on July 5, 2012 at 12:06 PM

And the rich are leaving France in droves many to NY.

derecho on July 5, 2012 at 12:06 PM

French fried!

Electrongod on July 5, 2012 at 12:06 PM

So, is there a way to sell short on the country of France?

I need a way I can make money WHEN the new Socialist Gub’ment crashes and burns.

Going to have to do some research into that. Because it’s going to happen, that’s a given, just a matter of when.

Meople on July 5, 2012 at 12:06 PM

Grey poop-on

Electrongod on July 5, 2012 at 12:07 PM

Socialists are damn fools and are unteachable.

rplat on July 5, 2012 at 12:07 PM

I hope that photo of Hollande will have a long and illustrious career at HotAir like the Palin/American Flag photo, the Huckabee / random microphone photo, the Hillary “beholder” photo and the one of Hillary making rage-face at Donna Shalala.

fiatboomer on July 5, 2012 at 12:08 PM

It’s not going to work out according to your sanguine, reality-negligent plans, I can promise you that much, France

STEP ONE: Raise taxes

STEP TWO: ???

STEP THREE: Prosperity!

They’ve already accomplished two out of their three goals. What could possibly go wrong?

logis on July 5, 2012 at 12:09 PM

I believe it is a 75% tax over one million euros. As one Frenchman said, ¨there is no incentive to do business in France now.¨

derecho on July 5, 2012 at 12:09 PM

The eurozone affords them a larger pool from which they can take and subsequently burn through money. Eventually, however, that’ll run out, too — how long can this madness go on?

France rightly recognizes that draining Germany’s pool in the old days would have formed the basis for war. These days they just buy off hostility with printing presses.

The madness only stops when people admit the problem is a crisis of governmental mis-management.

Difficultas_Est_Imperium on July 5, 2012 at 12:09 PM

OT: dear leader speaking now,”we’ve never been a country looking for handouts”

seriously????? peggy joseph doesn’t ring a bell?

cmsinaz on July 5, 2012 at 12:09 PM

There is no example, in modern economic history, of a country that has succeeded in reducing its deficits by bringing taxes to a confiscatory level. On the contrary, it leads to a decline in activity, and an increase in the deficits.” …

This.

BacaDog on July 5, 2012 at 12:09 PM

how long can this madness go on?

Next will be a UN mandated global tax. When that dries up, world chaos.

Decoski on July 5, 2012 at 12:10 PM

not one single dime to france…they wanted this, they got it…

own it france

cmsinaz on July 5, 2012 at 12:10 PM

Electrongod on July 5, 2012 at 12:07 PM

heh

cmsinaz on July 5, 2012 at 12:11 PM

Erika has hit the nail on the head with the push by the Europeans and those who share their woeful economic ignorance to ‘ go global’.

France has told the EMU that it wishes to ‘share’ its budget with all of the EU.

Translation: “Let me put my hand in YOUR pocket next.”

thatsafactjack on July 5, 2012 at 12:11 PM

Here’s how to save money, lower the retirement age! Yeah, that’s the ticket.

slickwillie2001 on July 5, 2012 at 12:11 PM

OT: dear leader speaking now,”we’ve never been a country looking for handouts”

seriously????? peggy joseph doesn’t ring a bell?

cmsinaz on July 5, 2012 at 12:09 PM

Or the government trolling around trying to sign up as many people for the SNAP program, worrying about “mountain pride”

lorien1973 on July 5, 2012 at 12:11 PM

How long can this madness go on?

Until the situation comes to the point where nothing else can be done, and the system implodes on itself in a catastrophic fashion.

Personally I’m very much looking forward to that day as it will be a grim reminder to all those lazy Americans that you can only milk the system for so long before it collapses and those who have been suckling the teat of the public will be left with nary more than a pencil with which to write their last words.

Yes, I’m that sick of the non-productive.

Defenestratus on July 5, 2012 at 12:12 PM

By the way, I really like Erika’s contribution to Hot Air. Well done!

beatcanvas on July 5, 2012 at 12:13 PM

Priceless picture of that connard, Hollande…the sad thing is that he probably means it..Mitterand-type economic disaster 2.0 or better yet, revisited….no wonder businesses snd people are moving accross the Channel…at least there’s the ‘eternal’ hope of the City there (City of London that is)….

jimver on July 5, 2012 at 12:13 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

By the way, I really like Erika’s contribution to Hot Air. Well done!

beatcanvas on July 5, 2012 at 12:13 PM

Incredibly talented and original, with a great sense of humor….

jimver on July 5, 2012 at 12:14 PM

So, is there a way to sell short on the country of France?

I need a way I can make money WHEN the new Socialist Gub’ment crashes and burns.

Going to have to do some research into that. Because it’s going to happen, that’s a given, just a matter of when.

Meople on July 5, 2012 at 12:06 PM

You won’t earn much selling the market short after the fact. Pretty much every person with half a brain knew well ahead what should happen, so the decline is priced in already. In fact, a slight gain is expected when it actually happens as the big players start quietly buying stock from Johnny-come-lately wave.

Archivarix on July 5, 2012 at 12:14 PM

The French will be running out of other peoples’ money any day now.

Enjoy the whirlwind, Frenchies.

AZCoyote on July 5, 2012 at 12:14 PM

How long will it take before being Socialist equates with being Insane?

How do these people think this is going to work out for them?

Do they think that if they can impose that lunatic ideology worldwide that it’ll HAVE to work because the rich won’t have anywhere to go?

Chip on July 5, 2012 at 12:14 PM

You people just don’t understand. This budget shortfall was……wait for it…….wait for it…..

UNEXPECTED

pehrsson on July 5, 2012 at 12:15 PM

lorien1973 on July 5, 2012 at 12:11 PM

yup

cmsinaz on July 5, 2012 at 12:15 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

I like.

derecho on July 5, 2012 at 12:15 PM

France willfully setting itself up for failure

Considering that Americans are deciding between two tax hikers of historical proportions who invented Obama/Romneycare, America seems to be setting itself up for failure too.

FloatingRock on July 5, 2012 at 12:15 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

If thry bring capital with them, get them in :)…better than the entitlement hordes from the south…

jimver on July 5, 2012 at 12:16 PM

The US, the BRICS and the PIIGS, damn, the whole darned globe is circling the proverbial toilet bowl…France`s socialist idiocy is but one more symptom of the underlying disease that will eventually bring the whole house of cards tumbling down…no surprises here.

NY Conservative on July 5, 2012 at 12:16 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

Agree.

And unlike most of the Hispanic immigrants (Cuba is an exception), we Western European immigrants to the US tend vo vote GOP.

Norwegian on July 5, 2012 at 12:16 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

They will be swamped by a monstrous wave of “humanitarian” cases. You cannot refuse to let a huge Muslim family in just because their kids owe their debility and autism to dad’s hashish habit.

Archivarix on July 5, 2012 at 12:18 PM

Eventually, however, that’ll run out, too — how long can this madness go on?

Longer than you can imagine.

* Greece has been circling the rim for 5 years but keeps going.

* Japan has the luxury of printing its own money, so they’ve been circling the rim for 20+ years. Keep in mind the Nikkei is 75% off its all time high. Keep in mind, that is less than a 3% decrease in their stock market per year. A steady but unrelenting decline in wealth.

I’m not sure we have twenty years. Over 50% of our debt is owned outside of the U.S. and I don’t think those investers have the nationalistic mindset as the Japaneese.

But who knows, those investors may not have a choice and may find that U.S. Sovereign debt junk bonds are preferable to other countries sovereign debt junk bonds.

WisRich on July 5, 2012 at 12:18 PM

Do they think that if they can impose that lunatic ideology worldwide that it’ll HAVE to work because the rich won’t have anywhere to go?

Chip on July 5, 2012 at 12:14 PM

That is exactly what they think. That is why socialists (and “citizen of the world” types) keep trying to push us all into global governance schemes and global taxes.

AZCoyote on July 5, 2012 at 12:18 PM

The funny thing is…

… They are still teaching this in schools.

Seven Percent Solution on July 5, 2012 at 12:18 PM

….we’re headed there!…FORWARD…!!!

KOOLAID2 on July 5, 2012 at 12:19 PM

America is at least 90% socialist, especially after ObamaCare survived. Maybe we should look to our own socialist problem before we point fingers at France.

Axion on July 5, 2012 at 12:20 PM

There’s a very good reason that these countries are so eager to “go global.” As Margaret Thatcher once famously said, “The problem with socialism is that eventually you run out of other people’s money.”

That’s why France is now pushing Germany to approve Eurozone bonds so they can have a co-signer for their economic fantasies.

RadClown on July 5, 2012 at 12:21 PM

The French will be running out of other peoples’ money any day now.

Enjoy the whirlwind, Frenchies.

AZCoyote on July 5, 2012 at 12:14 PM

Methinks there are no people’s money left, the treasury is empty, am sure even myopic Hollande noticed that when he moved in Elysee…and they can’t print iit either, bernanke–style :)…only ECB can, and Merkel doesn’t love her more spending :)….oh, but there’s always China :)…and then again ECB, alas, is the Master, not Banque de France…

jimver on July 5, 2012 at 12:22 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

As long as they don’t bring their socialist expectations with them.

Hill60 on July 5, 2012 at 12:22 PM

— how long can this madness go on?

I posted the other day something to the effect that, if you’re expecting this big, road to Damascus moment from the left just because every place they govern goes bankrupt, you’re going to be sorely disappointed.

I see lots of posts and blogs and articles that go, “as soon as (blank) happens, the left will finally get it, will repent of their anti-capitalistic, statist views and join us in free-market kumbayah.”

The left is the self-proclaimed party of reason and logic. Yet, they cannot be bothered with facts of science or math in such areas as: AGW, gay marriage, illegal immigration, abortion, and taxation/spending by government.

To answer your rhetorical above, this will never end. They could tax you at 99.9% of your income and it still would not be enough. Because no matter how much they take, there is always something else they need to do with your money. So, they’ll need more.

Leftist liberalism is not an economic view of the world, so their beliefs will not rise and fall on economic fortunes. Liberalism as followed by the left is a state and condition of the soul and their undying devotion to humanism.

The Hammer on July 5, 2012 at 12:23 PM

The US, the BRICS and the PIIGS, damn, the whole darned globe is circling the proverbial toilet bowl…France`s socialist idiocy is but one more symptom of the underlying disease that will eventually bring the whole house of cards tumbling down…no surprises here.

NY Conservative on July 5, 2012 at 12:16 PM

Emphatic yes.

jimver on July 5, 2012 at 12:23 PM

And unlike most of the Hispanic immigrants (Cuba is an exception), we Western European immigrants to the US tend vo vote GOP.

Norwegian on July 5, 2012 at 12:16 PM

As do us Eastern European immigrants.

JPeterman on July 5, 2012 at 12:23 PM

And the rich are leaving France in droves many to NY.

derecho on July 5, 2012 at 12:06 PM

Companies have been heading for the hills for a while.

Upper middle class and wealthy people are heading everywhere – EU countries, Switzerland, the US, etc. It’s about to become a full on exodus.

Can we spell massively shrinking tax base?

In American it is spelt ‘C-A-L-I-F-O-R-N-I-A’

CorporatePiggy on July 5, 2012 at 12:25 PM

Defenestratus on July 5, 2012 at 12:12 PM

My thoughts exactly and the sooner the system collapses, the better. Maybe then we can awaken people into entering what Rush calls “Realville”.

Decoski on July 5, 2012 at 12:26 PM

Do they think that if they can impose that lunatic ideology worldwide that it’ll HAVE to work because the rich won’t have anywhere to go?

Chip on July 5, 2012 at 12:14 PM

That is exactly what they think. That is why socialists (and “citizen of the world” types) keep trying to push us all into global governance schemes and global taxes.

AZCoyote on July 5, 2012 at 12:18 PM

What they don’t realize is that if they were able to impose an Oppressive regime of worldwide socialism, the productive would simply slow down their efforts (not all, be enough to have an effect) such that we will see the same resulting decline on a worldwide basis.

Eventually some people somewhere will revolt against this tyranny and the whole thing will come crashing down.

The Marxists will then just start over under a new name for their ideology – but with the classic insanity baked-in as always.

Chip on July 5, 2012 at 12:31 PM

When will this ever end?

It will never end, because envy never ends.

If the socialists think that taxing millionaires is just because they just have too much money that they don’t need, they will just up the envy level when that pool dries up.

Your neighbor has two cars? He doesn’t need THAT many cars. Tax him up the wazoo for NOT taking advantage of public transportion!!!

PackerBronco on July 5, 2012 at 12:31 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

There is no middle class in Europe left.

lorien1973 on July 5, 2012 at 12:31 PM

Within each socialist beats the heart of a thief.

If a thief steals your wallet, he’ll still grab your gold watch if he can.

PackerBronco on July 5, 2012 at 12:33 PM

Nothing like watching The Chosen One’s preferred policies being played out in another country.

Closer to home, you can watch Moonbeam Brown do the same thing to the State of California.

GarandFan on July 5, 2012 at 12:35 PM

Nothing like watching The Chosen One’s preferred policies being played out in another country.

Closer to home, you can watch Moonbeam Brown do the same thing to the State of California.

GarandFan on July 5, 2012 at 12:35 PM

Too bad they can’t speed it up so everyone could see the result prior to November.

Night Owl on July 5, 2012 at 12:38 PM

How do they know Capitalism doesn’t work? They’ve never tried it.

Socratease on July 5, 2012 at 12:38 PM

More than the 75 per cent rate, it is a move to higher wealth and inheritance taxes that worries him – and what he perceives as a cultural hostility to the rich. “The anti-wealth rhetoric is just not encouraging. I’d rather be in a country where I don’t have to deal with that

Heh.

Nothing like the threat of taking your stuff to change a socialist to a capitalist.

I swear, sometimes I wish Congress would pass an insane tax scheme. Let’s see how a 90% rate will play with the liberal rich. Hell, they’d all be getting Reagan tattos before the summer was over.

BacaDog on July 5, 2012 at 12:39 PM

France could become a model for us of what not to do, but our own leftists will never see or believe what is before their eyes. Instead, they and their lap dogs in the MSM will simply blame mean-spirited conservatives/the party of ‘no’ for all the failures.

Liam on July 5, 2012 at 12:39 PM

France willfully setting itself up for failure
by Erika Johnsen

…yeah…well me too!…will you marry me?

KOOLAID2 on July 5, 2012 at 12:40 PM

Within each socialist beats the heart of a thief.

If a thief steals your wallet, he’ll still grab your gold watch if he can.

PackerBronco on July 5, 2012 at 12:33 PM

You forgot the part where the socialist will steal your wallet, grab your watch, and then become morally indignant and call you selfish if you challenge them about it.

Happy Nomad on July 5, 2012 at 12:40 PM

They think higher taxes will make them less “misérables”?

Greek Fire on July 5, 2012 at 12:40 PM

With the Euro game, you can only choose to join the parasites or join the hosts, and it’s insane to choose to be a willing host. You can’t sit it out on the sidelines and still be in the game.

The best option for the non-parasitic members is to not play the game and tear up their membership cards.

The same applies for the dollar and this union of states. They’ll try to tell you that you don’t have the option of non participation in this game of Parasite v Host in the United States.

Buddahpundit on July 5, 2012 at 12:41 PM

France could become a model for us of what not to do,

Liam on July 5, 2012 at 12:39 PM

Hasn’t that been true for decades?

Happy Nomad on July 5, 2012 at 12:41 PM

how long can this madness go on?

.
Until the wheels fall off FTW!

ronsfi on July 5, 2012 at 12:42 PM

I’d laugh at France but I weep because this is our future unless enough people wake up.

xrayiiis on July 5, 2012 at 12:42 PM

Germany, get out now…

affenhauer on July 5, 2012 at 12:42 PM

“Socialism is workable only in heaven where it isn’t needed, and in hell where they’ve already got it.” –Cecil Palmer

“Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it.” –Thomas Sowell

“Socialism is simply Communism for people without the testosterone to man the barricades.” –Gary North

“Democracy is the road to socialism.” –Karl Marx

“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” –Sir Winston Churchill

““We should have had socialism already, but for the socialists.” –George Bernhard Shaw

Archivarix on July 5, 2012 at 12:43 PM

Hasn’t that been true for decades?

Happy Nomad on July 5, 2012 at 12:41 PM

Oh, totally! But no one in government, the MSM, or that 20% in America who call themselves liberal accept it. Maybe the collapse of a Western socialist state will turn a few heads, for the demise of the Soviet Union sure didn’t.

Liam on July 5, 2012 at 12:46 PM

On the plus side, my trip to Europe in a couple weeks is much more affordable with the Euro trading around $1.24 USD.

Happy Nomad on July 5, 2012 at 12:46 PM

People need to realize that we have but two fates in store for us.

One would be if sanity prevails and we halt the national march towards a socialist muck hole and head back to freedom and liberty and away from the dreams of the Democrats.

The other will be if too many people are willing to sell their and their children’s future to freebies in exchange for their vote. The result will be just like Europe in its headlong rush to disaster.
Of course the National Socialist Left will be able to maintain the charade for a least some time, but it will inevitable crash and burn as it always has.

Either way, eventually the system will correct itself – it’s just a question of how much misery people will have to endure and how many people will die before their grand insane experiment plays itself out.

Personally, I’d prefer that we stop the insanity now – because we know that option two won’t work and can never work.

Any Leftists out there like to dispute this assertion?

Step up to the plate!

Chip on July 5, 2012 at 12:46 PM

don’t laugh too hard guys. Hollande wants an infrastructure bank, just like barry. Hollande wants a 75 percent marginal rate…just like the libs here do (barry has been pretty quiet…so far)

And Hollande wants to increase the wealth tax…you know give uncle sugar some of your wealth…not that anyone here has suggested that…oh no

http://www.hoover.org/publications/defining-ideas/article/105021

this is Hoover’s take down of some clown writing in the wsj

r keller on July 5, 2012 at 12:47 PM

Honestly, France — start taxing the heck out of your country’s financial movers and shakers, and what do you think is going to happen?

If our “leaders” here cared about Americans rather than fuzzy-wuzzy far-left ideals, we would be passing legislation to encourage them to move here.

NoDonkey on July 5, 2012 at 12:47 PM

They get the government they deserve.

thirteen28 on July 5, 2012 at 12:48 PM

America is at least 90% socialist, especially after ObamaCare survived. Maybe we should look to our own socialist problem before we point fingers at France.

Axion on July 5, 2012 at 12:20 PM

Unfortunately, you’re probably correct. The political fools in this country have taken a once great Republic and turned it into a cesspool of dependent parasites.

rplat on July 5, 2012 at 12:48 PM

Dear France: You don’t get more milk by beating the cow. And if you kill the cow you get no milk at all.

cc: all other EU members, Obama, and Libfree

Bat Chain Puller on July 5, 2012 at 12:49 PM

So, a President Romney should offer expedited US citizenship to middle-class French, Italians, Spaniards, etc., who have money and job skills. Sort of a DREAM Act to a new wave of European refugees.

Hudson on July 5, 2012 at 12:13 PM

Won’t work for the same reasons that expatriate Californians quickly try to vote for the same sort of policies and representatives that brought their country/state down.

Better to open immigration to the Eastern Europeans and Russians. They understand the cancer that is socialism better than anyone else.

iconoclast on July 5, 2012 at 12:50 PM

Erika Johnsen: “…how long can this madness go on?”

Until it can’t go on; that’s how long.

Tantor on July 5, 2012 at 12:51 PM

Somewhere in Germany, someone is refurbishing the printing plates for the DM.

CPT. Charles on July 5, 2012 at 12:52 PM

But who knows, those investors may not have a choice and may find that U.S. Sovereign debt junk bonds are preferable to other countries sovereign debt junk bonds.

WisRich on July 5, 2012 at 12:18 PM

That is right, it is all relative like everything else under the sun.

mnjg on July 5, 2012 at 12:53 PM

How can there be an EU, with such splintered everything? No need to answer.

Sadly, the majority of Americans joined their European ninnies on the line of handouts…with zero regard of what happens one generation from now.

Leftist looters are the most malicious crooks and charlatans in the world. The Mafia has a more honest moral code.

Schadenfreude on July 5, 2012 at 12:53 PM

Somewhere in Germany, someone is refurbishing the printing plates for the DM.

CPT. Charles on July 5, 2012 at 12:52 PM

They are ready to go in Holland and other countries too, but don’t bank on it. Obama will break their arms if they do.

Schadenfreude on July 5, 2012 at 12:54 PM

Well, I guess there is a reason Airbus decided to build it’s new plant in Alabama.

crosspatch on July 5, 2012 at 12:56 PM

…Leftist looters are the most malicious crooks and charlatans in the world. The Mafia has a more honest moral code.

Schadenfreude on July 5, 2012 at 12:53 PM

That’s for sure. Win a bet with your bookie and don’t come for your money, he’ll send someone to find you to pay you.

Liam on July 5, 2012 at 12:56 PM

Don’t laugh too hard guys. Hollande wants an infrastructure bank, just like barry. Hollande wants a 75 percent marginal rate…just like the libs here do (barry has been pretty quiet…so far)

And Hollande wants to increase the wealth tax…you know give uncle sugar some of your wealth…not that anyone here has suggested that…oh no

http://www.hoover.org/publications/defining-ideas/article/105021

this is Hoover’s take down of some clown writing in the wsj

r keller on July 5, 2012 at 12:47 PM

You know, that brings one of the great questions to ask those leftist of the National Socialist bent:

How is dear El Presidente Downgrade’s agenda and ideology Different for that of the admitted socialists like Hollande?

And how will our dear liar’s agenda stop what is happening in Europe as we speak?

Leftists can never give a straight answer on that – go figure.

Chip on July 5, 2012 at 12:56 PM

France willfully setting itself up for failure

A new-age Robespierre along with a guillotine revival is the only way to save France from doom! Liberal heads must roll to save France..

..and America.

BigSven on July 5, 2012 at 12:57 PM

Somewhere in Germany, someone is refurbishing the printing plates for the DM.

CPT. Charles on July 5, 2012 at 12:52 PM

They are ready to go in Holland and other countries too, but don’t bank on it. Obama will break their arms if they do.

Schadenfreude on July 5, 2012 at 12:54 PM

How?

jimver on July 5, 2012 at 12:57 PM

producers and looters…that crazy Rand chick made a pretty good point back in 1957 didn’t she?

DanMan on July 5, 2012 at 12:57 PM

Socialists are damn fools and are unteachable.

rplat on July 5, 2012 at 12:07 PM

No, they know exactly what they are doing – looting the country for their own wallets as fast as they can before it collapses. They don’t genuinely care about other people. As somebody wrote in a comment or post last week, when socialism comes it draws a line. Everybody on the government’s side gets rich by sucking the money from the people on the other side, all the while promising to take care of them.

Erika is right too, that they want globalism thinking they can sustain their hegemony with access to other money. The one way they are fools is that they believe they can sustain it, and when it starts to fail they claim they need more money.

Why do you think liberals in America push for so much federal control of things that states should be doing? Because when they do them in states and that state becomes too expensive and rotten to live in, people move to a better state. By making it federal there’s no escape. So Socialist countries see their rich fleeing to other countries where their wealth isn’t taken, and the socialists want a one world government so that there’s no place to flee.

The fallacy is that when getting rich means 75% of your income goes to pay for the care and feeding of relatively lazy people, many will decide to become a relatively lazy person. Why work your tail off only to end up with less so somebody with no ambition or work ethic can have free health care, food subsidies, subsidized solar panels, free college for their kids and 8 weeks of vacation a year? Even if they did get a socialist global government, the percentage of wealthy would drop and drop until we had the gray, scrape by world of Blade Runner or Running Man.

PastorJon on July 5, 2012 at 12:59 PM

is it possible that the whole point of all these “crisis” (Greece/Spain/France/the Euro breakup/deficit spending) is just to force everything into the only solution…..

………Global governance with rights that come from this New World Order (that Bush described way back in the late 1980′s)?

Nah, nevermind.

I mean sure the gop is completely NOT GOING TO STOP SPENDING us into Oblivion and sure OBAMA is deficit spending like there is no danger but really I mean what else could it be?


They are just really incompetent in D.C……………right?

PappyD61 on July 5, 2012 at 1:00 PM

Besides Sarkozy is going to the fall guy in France.

…..no worries Nicolas (oh well that Marie Antoinette thingy but other than that).

PappyD61 on July 5, 2012 at 1:01 PM

An economic Maginot Line?

swinia sutki on July 5, 2012 at 1:01 PM

Who can gainsay the consequences of politicians’ actions, since they were elected by the people, we were told by our chief justice.

So there! I don’t even feel sympathy for them.

Unlike the Sebelius case here in the US. Article III is specifically written to protect the actions of politicians (elected or not), against the citizens of this nation.

Roberts punting the ball back to the voters, is using the court to play politics at best, a cowardice act imo.

Sir Napsalot on July 5, 2012 at 1:01 PM

Somewhere in Germany, someone is refurbishing the printing plates for the DM.

CPT. Charles on July 5, 2012 at 12:52 PM

They are ready to go in Holland and other countries too, but don’t bank on it. Obama will break their arms if they do.

Schadenfreude on July 5, 2012 at 12:

merkel s’en foute, don’t think she gives a dead rat on OBama, outside the diplomaic pleasantries and all…what leverage does he have with Europe really?

jimver on July 5, 2012 at 1:02 PM

The sooner they crash and burn, the better. The average American and especially the oblivious portion of the left (the naive, not those like Hollande and Obama who know what they’re doing) need to see where we are headed before they continue to vote us all into the same death-spiral.

Big John on July 5, 2012 at 1:03 PM

An economic Maginot Line?

swinia sutki on July 5, 2012 at 1:01 PM

That didn’t prove to be too effective, did it? :)..

jimver on July 5, 2012 at 1:04 PM

Sacre Bleu!

ultracon on July 5, 2012 at 1:05 PM

how long can this madness go on?

Until the presses that print money break down or until money is inflated into oblivion, whichever comes first.

petefrt on July 5, 2012 at 1:07 PM

Somewhere in Germany, someone is refurbishing the printing plates for the DM.

CPT. Charles on July 5, 2012 at 12:52 PM

I’m in Germany right now. They don’t want the Euro to fail because when it turns worthless, they stand to lose the most. They aren’t very fond of the deadbeat Club Med but they have little choice or they will suffer catastophic loses. We know how that turned out in the early 20th century, only this time, I might have to side with Germany.

Big John on July 5, 2012 at 1:08 PM

Somewhere in Germany, someone is refurbishing the printing plates for the DM.

CPT. Charles on July 5, 2012 at 12:52 PM

Does that mean the 50DM note I’ve been holding since 1975 will be worth something again?

swinia sutki on July 5, 2012 at 1:11 PM

They don’t want the Euro to fail because when it turns worthless, they stand to lose the most.

We agree that the Euro’s failure is a matter of when and not if; why not go back to the DM now before the bottom completely drops out..?

affenhauer on July 5, 2012 at 1:14 PM

France will be another Islamic republic before socialism will take root….
So won’t matter that much….
Iran will prop it up.

redguy on July 5, 2012 at 1:14 PM

Sir Napsalot on July 5, 2012 at 1:01 PM

(Sorry, need more caffein….)

Protect the citizens against ….. Hope you get what I mean.

Sir Napsalot on July 5, 2012 at 1:16 PM

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