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French Joblessness Soars To Record High; Rises For 36th Month In A Row

Tyler Durden's picture




 

More Hollande 'broken promises' as French joblessness reaches a new record high. Aside from the idiotic month when officials forgot to send text messages, this is the 36th month in a row of worsening employment in France. That must explain why, along with a collapsing PMI, French bond risk remains near record lows...

 

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Thu, 06/26/2014 - 12:32 | 4898241 screw face
screw face's picture

Fuck the French

Thu, 06/26/2014 - 12:41 | 4898275 BC6
BC6's picture

Fuck Freedom Fries!

Thu, 06/26/2014 - 12:46 | 4898296 graneros
graneros's picture

Actually this chart shows how fantastic things are. ZH'ers just don't know how to properly read a chart. Let me explain this chart from the progressive point of view. You see that dotted green line? Well that line goes from that mountain represented by the dark green bond risk line. Behind that mountain is the sun and the sun is shining down in the direction of the green dotted line.  It is shining down and creating green shoots. Two green lines the mountains and sunshine means everthing is great. Green shoots for all. You see how simple it is? Happy days are here again.

Thu, 06/26/2014 - 12:49 | 4898316 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Coming to a leftist, commie state near you. Add in pitchforks for effect!

Thu, 06/26/2014 - 12:59 | 4898358 Top Gear
Top Gear's picture

Are the new job seekers mostly immigrants who don't fit into society?

Yet libertarian ideals dictate "open borders" for nations. As does Barry. Not much difference, is there?

Thu, 06/26/2014 - 13:07 | 4898403 Anusocracy
Anusocracy's picture

Libertarians also advocate that all property be privately owned, no welfare period, and government so small you could kill it with a flyswatter.

Thu, 06/26/2014 - 13:21 | 4898459 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

Hence the accusations of primitivism.

Fri, 06/27/2014 - 17:55 | 4904004 Anusocracy
Anusocracy's picture

It crimps the lifestyle of parasites.

Thu, 06/26/2014 - 13:17 | 4898443 JRobby
JRobby's picture

who don't fit into society

Thu, 06/26/2014 - 12:50 | 4898318 flacon
flacon's picture

How come the government can't create jobs by decree? Wealth for all in the socialist utopia. 

Thu, 06/26/2014 - 12:55 | 4898340 Nevsky
Nevsky's picture

It's not the type of jobs people volunteer for.

Thu, 06/26/2014 - 13:26 | 4898481 ShrNfr
ShrNfr's picture

Fry Freedom Fucks.

Thu, 06/26/2014 - 13:18 | 4898448 screw face
screw face's picture

3m

Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles

Thu, 06/26/2014 - 12:33 | 4898243 FieldingMellish
FieldingMellish's picture

Merde!

Thu, 06/26/2014 - 12:48 | 4898311 CrashisOptimistic
CrashisOptimistic's picture

Low growth = low bond yields.

How can there be bond default risk when the power to redefine default is given to not just the French government, but all governments, who would cooperate to prevent any defaults.

Money stuff is not the vehicle of destruction.  When you can redefine everything, how can it be.

Only oil takes it all down.  Soon.

Thu, 06/26/2014 - 12:51 | 4898322 Grande Tetons
Grande Tetons's picture

How soon? 

Thu, 06/26/2014 - 12:51 | 4898325 SumTing Wong
SumTing Wong's picture

After 36 months, putain de merde!

Thu, 06/26/2014 - 12:35 | 4898252 NOTaREALmerican
NOTaREALmerican's picture

No worries,  everybody can work for the French railroads  (well,  somebody should there's no trains running now).

Thu, 06/26/2014 - 12:57 | 4898356 Nevsky
Thu, 06/26/2014 - 13:29 | 4898494 NOTaREALmerican
NOTaREALmerican's picture

They all look happy, healthy, and well fed.     A true worker's paradise!

Thu, 06/26/2014 - 12:37 | 4898262 I Write Code
I Write Code's picture

It's only the muslim and the young I'm sure.

Thu, 06/26/2014 - 12:41 | 4898267 COSMOS
COSMOS's picture

Their numbers keep growing, I think the average Muslim family has 5 kids/terrorISISts

Thu, 06/26/2014 - 12:42 | 4898282 crazytechnician
crazytechnician's picture

Why work or start a business when the government will steal 80% of your income ? You may as well become a dosser.

Thu, 06/26/2014 - 12:54 | 4898338 Seahorse
Seahorse's picture

Getting that way everywhere..

Thu, 06/26/2014 - 14:30 | 4898908 SmallerGovNow2
SmallerGovNow2's picture

Bingo CrazyT.  I'm downsizing, cutting my income in half, and getting off the grid.  Not going to contribute taxes to the bottomless pit and be a slave for the progressives that want to give it all away when they cannot legitimately make an honest days wages productively...

Thu, 06/26/2014 - 12:56 | 4898349 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

What is it with right-wing nuts and stereotyping entire ethnic and/or religious groups?

Thu, 06/26/2014 - 13:30 | 4898497 NOTaREALmerican
NOTaREALmerican's picture

"Those people",  just how the human brains works.

Thu, 06/26/2014 - 13:30 | 4898505 sondernauch
sondernauch's picture

What is it with liberals who cannot destroy countries fast enough? Liberalism totally dominates every country now, yet liberals still complain and pretend they are the underdogs, and they blame all the problems on some nebulous right wing conspiracy. Unbelievable.

Thu, 06/26/2014 - 12:38 | 4898265 Nevsky
Nevsky's picture

It's almost like it got worse under a Socialist. Kind of like in the USA. 

Spooky

Thu, 06/26/2014 - 12:39 | 4898268 Salah
Salah's picture

Thomas Piketty will make everything right....not to worry.

Thu, 06/26/2014 - 12:40 | 4898271 Jack Sheet
Jack Sheet's picture

they should calculate unemployment the same way as BLS does - that way unemployment will be 0% as soon as there is no-one left in the work force.

Thu, 06/26/2014 - 12:40 | 4898273 SethDealer
SethDealer's picture

lazy french

Thu, 06/26/2014 - 12:40 | 4898274 chinoslims
chinoslims's picture

Isn't "French" and "joblessness" and "socialism" synonymous?

Thu, 06/26/2014 - 12:41 | 4898276 crazytechnician
crazytechnician's picture

They will just raise corporation tax to 60% , income tax to 70% , VAT to 40% , social charges to 45% ,

There , problem fixed.

Thu, 06/26/2014 - 12:52 | 4898314 Emergency Ward
Emergency Ward's picture

...a few weeks of car burnings and some African military adventures.  Those are always good for economic surges.

Thu, 06/26/2014 - 14:15 | 4898800 crazytechnician
crazytechnician's picture

They are getting Krugman over as an advisor , apparently he's told them to burn the cities down so they can be rebuilt. Will do wonders for GDP.

Thu, 06/26/2014 - 12:41 | 4898277 orangegeek
orangegeek's picture

and Barry's recent comment that the US should follow France's lead on social welfare

 

you can't make this shit up

Thu, 06/26/2014 - 12:47 | 4898304 Mark Urbo
Mark Urbo's picture

Yes, I caught that comment and laughed when O-hole said it.  He really thinks they are a model to follow - leftist ideology run amuck.

Thu, 06/26/2014 - 12:43 | 4898283 El Vaquero
El Vaquero's picture

 

they should calculate unemployment the same way as BLS does - that way unemployment will be 0% as soon as there is no-one left in the work force.

There are lies, damned lies and then there's the Bureau of Labor Statistics.

Thu, 06/26/2014 - 12:44 | 4898291 brucyy
brucyy's picture

But but ....! It's the rest of the world's fault !

Thu, 06/26/2014 - 12:47 | 4898303 wmbz
wmbz's picture

So, this is good news right? Isn't that the goal? They will get to spend more time with their family, "the quality time". Live off of others... the ultimate dream.

This is what Moonbat Polosi said was good for Amerikans, so it should be good everywhere.

Oh yea, this will all end very well.

Not!

Thu, 06/26/2014 - 12:48 | 4898310 madcows
madcows's picture

would you buy a french bond now, knowing that the french government would be printing and buying in the near future in order to drive down bond rates?

of course not. same thing here is the US.  shits bad.  CB's are screwed.  all they can do is print.  why on god's green earth would you buy bonds.  or stocks for that matter.  the financial scales are so distorted that you have to be absolutely crazy to go near them.

Thu, 06/26/2014 - 12:52 | 4898326 CrashisOptimistic
CrashisOptimistic's picture

You buy bonds for price appreciation.  You WANT the yield to go down.

If you don't think yields are going down, then you foresee buoyant economic growth, because that's the only thing in the new normal that drives rates up.

Thu, 06/26/2014 - 12:56 | 4898350 goldhedge
goldhedge's picture

But but their high speed trains are so "efficient".

Thu, 06/26/2014 - 13:04 | 4898384 Duffy Duck
Duffy Duck's picture

Clearly, the French need many hundreds of thousands, nay, millions more Muslim immigrants.

Immigration always fixes everything, economy-wise.

Hmmm... so perhaps the inverse.... emigration is terrible for your economy!

If Mexico would simply stop letting its people leave, its economy would improve!

Genius!!

Thu, 06/26/2014 - 13:22 | 4898463 disabledvet
disabledvet's picture

"Great Depression." Very high unemployment...very low interest rates.

The "default prevention team" strikes again. First by believing such a problem does not exist (Trichet) and then by waiting too long to do anything about it. (Trichet again.)

I fail to see the contradiction between low interest rates and high unemployment.

Thu, 06/26/2014 - 23:14 | 4900968 o2sd
o2sd's picture

The US has an estimated 4 million slaves. A good portion of them are Mexican. For every Mexican that makes it across the border it is -1 mouth to feed in Mexico and +1 slave in America. Win - Win.

Thu, 06/26/2014 - 13:04 | 4898385 LukeWorm
LukeWorm's picture

It must be the French weather! 

Thu, 06/26/2014 - 13:07 | 4898388 Jack Sheet
Jack Sheet's picture

A gendarme approaches a shadowy figure in the Rambouillet Forest.
- M'sieur, M'sieur, Qu'est-ce que vous faites, là?
-Alors, je m'abuse.
-Excusez, Monsieur. Vive le sport!

Thu, 06/26/2014 - 13:11 | 4898414 RobD
RobD's picture

35 are getting the axe today at my company, second set a of layoffs this year. This is in the US so no big deal, it's bullish!

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