French Go Socialist

[David]

Obama couldn't wait to congratulate Hollande. Francois and Barry kindred souls.

[Mad_Dog]

There goes the EU. Final straw for Germany, no doubt.

[bobcat62]

http://www.dailymail.co.uk/debate/ar...se-Europe.html

Europe's economic problems are about to get a whole lot worse. For the past three years, governments have tried, however ineffectually, to tackle the debt crisis. Now, though, in country after country, voters are demanding precisely the high-tax and high-spend policies which caused the recession in the first place.

Yesterdays elections in France and Greece were the first of what will surely be many advances by the populist Left. In both places, candidates were elbowing each other aside during the campaign to demand more intervention and an end to cuts.

The new French President is an unapologetic Socialist of the kind we havent known in this country since Michael Foot. Franois Hollande wants wealth taxes, stimulus spending and a massive expansion of the state payroll.

He understands that this might lead to dismay in the international markets, but he has an answer to that: he will create a French credit ratings agency which will tell him what he wants to hear.

Hollande summarises his programme as growth, not austerity. Gosh. Who knew it was so easy? Why has no one thought of that before?...

[FastEddy]

Originally Posted by Mad_Dog

There goes the EU. Final straw for Germany, no doubt.

Actually, I would bet that just as soon as France g'ment starts championing the illegal immigrants various causes, the backlash will kick their booty right back into the street.

The business in France is centered around the financial industry. Example: Bank of Paris (and others) has offices in the UK (and the Isle of Mann) so the wealthy ( 1%ers ) will be moving wealth and assets out of France ... and there won't be much for the Socialist Frogs to tax or seize.

Currently liquid assets are leaving France at the rate of more than 10 Billion Euros per day ... at the speed of light. Pressure on Gold, Oil and Euro-stocks are the driving market force this week, but the flight of capital to the USA may cause a nice rebound by Friday.

"And I will go on criticising Socialism, and opposing Socialism because it is bad for Britain — and Britain and Socialism are not the same thing. (...) It’s the Labour Government that have brought us record peace-time taxation. They’ve got the usual Socialist disease — they’ve run out of other people’s money." - Margaret Thatcher.

[FastEddy]

Originally Posted by bobcat62

http://www.dailymail.co.uk/debate/ar...se-Europe.html

... Franois Hollande wants wealth taxes, stimulus spending and a massive expansion of the state payroll.

He understands that this might lead to dismay in the international markets [as of yesterday, for sure], but he has an answer to that: he will create a French credit ratings agency which will tell him what he wants to hear.

Hollande summarises his programme as growth, not austerity. Gosh. Who knew it was so easy? Why has no one thought of that before?...

And just a surely as the Sun rises, the Frog Socialists will expand welfare for those illegal aliens ... and the backlash should throw them right back into the street. ... maybe.

The unfortunate item is that this may take another year ... another year in which France and French wealth will be taking hits, all making for a deeper depression in Europe ... There is no shining knight to the rescue ... yet.

I would expect another long hot french summer ... another rash of car burning in the wealthier neighborhoods in Paris.

[GeronL]

One or two years of those policies and France will be well on its way to becoming one of the poorest countries on Earth. Welfare will become bread lines.

[FoundingFather]

Originally Posted by GeronL

One or two years of those policies and France will be well on its way to becoming one of the poorest countries on Earth. Welfare will become bread lines.

And even then...

"Wait a meenut. Zees croissant ees not fresh!!!!"

[Rifleman]

A couple of things. I heard Sarcozy was abandoned by "Conservatives", because he took advantage and assumed they would back him irregardless of what he did, Apparantly they didn't and extreme Socialist policies will trash France, personally I don't think iy will take a year.

Second the elctions in Greece, where voters rejected the Uasterit measures, is ging to have far more and immediate disasterous results than what France has done. It seems, also that Greece is going to have real problems seating a coalition government, and as a result, may face new elections shortly. Could possibly be a real mess, and could possibly topple those other troubled Euro-peon countries who are also on the edge. And considering the financial mess Obama policy has put the United States in, could cause real problems here as well.

[GeronL]

They are going to crash that country deeply into the ground.

[FastEddy]

Originally Posted by GeronL

They are going to crash that country deeply into the ground.

Yeap ... auguring in ... screwin' the pooch ... and taking the rest of the Euro-Trash with 'em.

[David]

Hollande at the White House today. BHO has a kindred soul.

[etex211]

This will eventually happen to America. We have more parasites than taxpayers. It's inevitable.

[dcannady]

Originally Posted by etex211

This will eventually happen to America. We have more parasites than taxpayers. It's inevitable.

It will be sooo much different for America. The Europeons come from a tradition of dependence on their governments. From the time of the monarchs, they have been accustomed to petitioning their governments for every little thing and expect it to be all things and do all things. In America, despite all of the best efforts of the Progressives and those who want to rule us, each of us believe we are the ultimate authority for all we choose to do. We have some who are like the Europeons, but most still believe in the sovereignty of individuals for themselves and it will become a vicious and violent place if the government doesn't back off.

[David]

German economy is strong. Rest of Europe in serious need of fiscal restraint. French elections change everything. It's back to tax and spend. French President Hollande hits it off well with BHO. Of course he does. Both Socialists. Share the same views on the welfare state. They are all going down the drain. Recession is the tame name for what is coming. Our banks can't avoid being hammered. Sounds like Fall 2008. NY Times.

World Leaders at U.S. Meeting Urge Growth, Not Austerity
By HELENE COOPER 56 minutes ago

Leaders of the Group of 8 nations, convened at Camp David, banded together on Saturday to press Germany to back more pro-growth policies to halt Europe’s deepening debt crisis.

[Rifleman]

Originally Posted by dcannady

It will be sooo much different for America. The Europeons come from a tradition of dependence on their governments. From the time of the monarchs, they have been accustomed to petitioning their governments for every little thing and expect it to be all things and do all things. In America, despite all of the best efforts of the Progressives and those who want to rule us, each of us believe we are the ultimate authority for all we choose to do. We have some who are like the Europeons, but most still believe in the sovereignty of individuals for themselves and it will become a vicious and violent place if the government doesn't back off.

That is so true, even though most of the Survivalist/Preppers I talk with don't agree. The Euro-peon mindset has been cultivated for at least 60, years, and even existed before WWII. The Socialist/'Totalitarian infrastructure doesn't even exist, and has certaily not been erected in the first term of Obama. And I don't know where the money for it would come, it's been wasted enough paying off Obama cronies. An Obama re-election will be similar to his election, business will pull out of the economy. Taxes will become unbearable for everyone.

If Obama manages to get re-elected, there WILL be a major recession, there might be anyway. If Clinton was any indicator, Lame Duck sessions, and outgoing Obama administration personnel will actively sabotage the incoming administration, and try to get the worst of all regulations imposed, prior to leaving. And although government had grown considerably during Obama, it is still far too samll to impose such regimentation on the country. You see, Obama only knows how to destroy, he doesn;t know how to create, and the destruction won;t be managed well enough for him to prevail. The struggle against Concealed Carry and Castle Doctrine, and stand your ground laws that only seemed to occur with the Death of Trayvon, is more critical to the leftist agenda than even they realize. In dictatoreal countries, self defense is unheard of, and unthinkable. If, for instance, Occupy Dallas was to begin large scale looting and violence against the public, and the police didn't even try to do anything about like California, people would deal with it themselves. Obama isn't endearing himself to the public when he ignores reprisals for Trayvon, and nothing is done about Occupy movements that abuse the public property.

As Euro-peons return to Socialism, they seal their own fate. Germany isn;t going to go along wit financing the Euro-parasite, even though the Fed has been feeding them American cash. There simply won't be enough.

[FastEddy]

Right, Rifleman!

"If Obama manages to get re-elected, there WILL be a major recession, there might be anyway. ..."

Without a significant, permanent tax cut, be it income taxes or fuel taxes or all of these and more matters not. As long as the amount is more than enough to offset the tax increases coming January 1, 2013 of more than One Trillion Dollars in increases. ... And it is ALL Oh Bummer's fault.

[Mad_Dog]

Well, there goes France.

The French government confirmed a new "temporary" 75 percent super-tax rate for earnings over one million euros and a new 45 percent band for revenues over 150,000 euros.

Source

[GeronL]

Look for those revenues to drop soon

[FastEddy]

Originally Posted by GeronL

Look for those revenues to drop soon

Worse than that. France will suffer the same fate as Taxifornia ... diminishing productive workforce, businesses leaving, technology abandoning the region, any new businesses will be in the "service" sectors.

There is a significant number of the French rich moving to London (which has high income taxes, but much, much lower capital gains taxes and almost no taxes for businesses that invest internationally, extra of Briton. Check out The Isle of Mann where business taxes are 000.000%).

Bank of Paris (EU) owns Bank of the West (USA) and Bank of Hawaii (USA). ... Think about that!

Little known: Bank of the West completely stopped doing residential mortgages in 2007, thus avoiding the shiite storm housing bubble.

[GeronL]

French Socialist government now trying to formulate new law to make it prohibitively expensive to fire anyone.

Seriously?

Do they think ATLAS SHRUGGED is a user's manual??