France is on the brink of an official recession. Again.

posted at 8:51 pm on December 16, 2013 by Erika Johnsen

It wasn’t so very long ago that France’s Socialist ministers were making what sounded like such confident predictions about how it was only a matter of time before their economy would be back in the money (relatively speaking, of course — a day and age in which a few tenths of a percentage of GDP growth is something to celebrate… well, yikes), but the third quarter’s results brought them some bad news in the form of an “unexpected” return to economic contraction by 0.1 percent.

Various eurozone countries, however, appear to be making at least marginal improvements in their own economies (especially Germany, the bloc’s largest economy), while France remains stuck in a rut of business-productivity malaise. …I wonder if that whole “Socialism” thing has anything to do with it? Via the Financial Times:

French business activity slumped to a seven-month low in December, exacerbating concerns about the fragility of the eurozone’s second-largest economy.

The disappointing French reading hampered a stronger improvement in the broader eurozone, which registered its best quarter in two-and-a-half years.

France’s “flash” reading of Markit’s Purchasing Managers Composite index for this month fell to 47 from 48 in November, accelerating its decline and producing yet another reading below 50, the level that separates expansion from contraction.

“[The readings] paint a worrying picture of the health of the French economy. The return to contraction in November has been followed up with a sharper reduction in December, with falling new business at the heart of this as clients were reportedly reluctant to commit to new contracts,” said Andrew Harker, senior economist at Markit.

And it doesn’t look much like the French economy will manage to spit out any growth to turn those indicators around in the last few weeks of the quarter, either — and it only takes two consecutive quarters of contraction to land themselves squarely back in the territory of official recession. If Hollande’s administration really hoping for a 0.9 percent growth in 2014, they’ve got their work cut out for them.


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They’re “French”, they know what their doing. Just ask King Barack the Magnificent.

GarandFan on December 16, 2013 at 8:58 PM

Socialism works until the money runs out.

MT on December 16, 2013 at 8:59 PM

France has three curses: mass immigration, socialism, and a right wing so weak and corrupt that from time to time people vote in the opposition even though the opposition is socialist and bound to lead to ruin.

David Blue on December 16, 2013 at 9:02 PM

Socialism works…you just need to spend more money. Just ask Paul Krugman.

jaywemm on December 16, 2013 at 9:03 PM

Tu vas bien!* -Nelson Muntz

* Ha Ha! translated into French

22044 on December 16, 2013 at 9:05 PM

Didn’t their 75% tax on the evil rich was going to fix all of that?

SouthernRoots on December 16, 2013 at 9:06 PM

Obviously they didn’t raise taxes enough. If they had they wouldn’t be having these problems.

/libfool #12

SparkPlug on December 16, 2013 at 9:07 PM

22044 on December 16, 2013 at 9:05 PM

You go well?

Stoic Patriot on December 16, 2013 at 9:09 PM

Oh, I know the answer: 110% taxes on high income. These people can afford it, they can did into their savings and cover the whole 110%.

anotherJoe on December 16, 2013 at 9:09 PM

You go well?

Stoic Patriot on December 16, 2013 at 9:09 PM

Probably more like “You’re good!” Probably with good sarc.

My source: http://dictionary.reverso.net/english-french/haha

22044 on December 16, 2013 at 9:12 PM

And once again, no mention of Marine Le Pen, the Front Nationale, or, for that matter, any of the “new-right” political parties gaining traction through Europe. Just le snark vapide.

“Le sigh.”

HB3 on December 16, 2013 at 9:18 PM

Why is Penn Gillette on the picture? ;)

Skywise on December 16, 2013 at 9:21 PM

The future is bright. I think after the first of January that all Gypsies can leave eastern Europe and go wherever they like. The Gypsies quick entrepreneurial skills will surely set the French economy on fire, Englands as well. So they have that coming down the pipe.

BL@KBIRD on December 16, 2013 at 9:25 PM

France is on the brink of an official recession. Again.

France, show your strength and superior intellect by doubling down on Socialism/Marxism don’t go for a lousy tax rate of 75% go directly to a 95%+ tax rate and let the good times roll!

RJL on December 16, 2013 at 9:41 PM

hahahhahhahaahahah

think anyone on this side of the pond is learning anything …
yeah .. me either ….

conservative tarheel on December 16, 2013 at 10:22 PM

Why are we laughing? We are following them right into the toilet. (Ex: Obamacare)

tngmv on December 16, 2013 at 10:25 PM

America has never recovered either. TPTB have been using a million different lies to cover up that fact.

Murphy9 on December 16, 2013 at 10:26 PM

I wonder if that whole “Socialism” thing has anything to do with it?

France doesn’t depend on bourgeois metrics like GDP to measure how well the economy is doing. Economic health is measured by the metaphysical goodfeelyness of redistributing wealth from the rich to the poor. So France is doing pretty awesome right now.

Glenn Jericho on December 16, 2013 at 10:45 PM

France is on the brink of an official recession. Again.

Coming soon to a North American country who became a Republic at approximately the same time as France.

Guess we’ll just have to spend and tax more in order to stave off disaster. *shrugs shoulders*

Dr. ZhivBlago on December 16, 2013 at 10:54 PM

Socialism works until the money runs out.

MT on December 16, 2013 at 8:59 PM

I think it’s important to precisely quote how Maggie Thatcher said it:

“Socialist governments traditionally do make a financial mess. They always run out of other people’s money.”

See what she did there?

Shy Guy on December 16, 2013 at 11:13 PM

The Gypsies quick entrepreneurial skills will surely set the French economy on fire, Englands as well.

BL@KBIRD on December 16, 2013 at 9:25 PM

It’s the Muslims that set the economy on fire in France, and the blacks that set the economy on fire in London.

David Blue on December 16, 2013 at 11:16 PM

“Socialist governments traditionally do make a financial mess. They always run out of other people’s money.”

See what she did there?

Shy Guy on December 16, 2013 at 11:13 PM

She just told the truth.

On that topic.

But not on race, mass immigration or Islam. On these topics there have been no heroes. Even Reagan failed on amnesty.

Mass non-white immigration plus forced assimilation is white genocide. The 50+ black countries will still exist. All the Asian countries will still exist. But white people are being forcibly blended away. That’s genocide.

With white people goes the culture and traditions of every white country, including France. If there’s one thing we should have learned by now, it’s that when you replace the people, the culture goes, and everyone who promises otherwise is lying. Non-white London is not London. The Islamic parts of France are no longer really French.

That’s why the Socialists sending everybody broke is a big problem, but not the main problem.

We are going to have to break with all the heroes of the past, Maggie Thatcher included, or we are going into the ash heap of history. We will be gone and it will not matter to us how broke the people will be who replace us.

I don’t care how broke France is if it’s not France any more. The French can go broke and later fix things. If the French are gone, it’s all over.

David Blue on December 16, 2013 at 11:30 PM

I’ve often wondered in the last few years… why is Germany’s economy doing so great? Is it in relation to the rest of the European Union? Fiscal policy? Buying up gold like pirate on crack? Seriously, what is Germany doing right?

WitchDoctor on December 16, 2013 at 11:37 PM

I’ve often wondered in the last few years… why is Germany’s economy doing so great? Is it in relation to the rest of the European Union? Fiscal policy? Buying up gold like pirate on crack? Seriously, what is Germany doing right?

WitchDoctor on December 16, 2013 at 11:37 PM

Me, too. I think it’s mostly just relativity. Also, consider the following:

1. They received a huge stimulus via the Marshal Plan after WW II. There were no skyscrapers in Germany until after the war. It’s not that “we” had to rebuild what we destroyed, but that they were able to (on our dime) build it even bigger and better.

2. Germany profited enormously from the war. Work camps/factories, the Molotov-Ribbentrop trade agreement, Kristallnacht insurance scam, looting, monetary support from American banks, Wall Street, London banks, and so on. That wealth didn’t simply evaporate. The whole “Aryan-master race” thing was basically a cover for stealing.

3. Germany has thriving steel, machine and automotive industries. They’ve built stuff for everyone from Saddam Hussein to the U.S.. Remember that the main gun on the Abrams tank is built by Reinmetall. They’re still selling their industrial goods worldwide at a pace that we used to (and maybe doing better because we’re less competitive?).

Along those lines, they have a much better industrial apprenticeship system than we’ve ever had. Over here, we may, or may not, have “auto shop” classes for kids in high school so they can fiddle around with beaters and build hot rods.

4. We subsidize their defense via NATO. They simply don’t spend anywhere what we do on military costs. They also don’t have a large navy to maintain like we do, nor the myriad of overseas bases like the U.S. does.

5. The Germans individually are more frugal than Americans. They are less likely to go into heavy debt. They don’t aspire to have a 2 acre lot with a 3500 square foot house in suburbia with a Dodge Ram, a Honda Odyssey, and a boat parked out front with a screened-in pool out back.

Dr. ZhivBlago on December 17, 2013 at 12:15 AM

Join the crowd. They are in Hawaii by the way. Should suit a leftist like you.

pat on December 17, 2013 at 1:13 AM

Give them July off too. That should fix it. Oh, and make the retirement age 48.

WryTrvllr on December 17, 2013 at 4:15 AM

It wasn’t so very long ago that France’s Socialist ministers were making what sounded like such confident predictions about how it was only a matter of time before their economy would be back in the money…

Under socialism there are shortages of everything but confident predictions.

David Blue on December 17, 2013 at 6:37 AM

Shy Guy on December 16, 2013 at 11:13 PM

I wasn’t trying to quote her. It’s really not that complicated of a concept.

MT on December 17, 2013 at 9:09 AM