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Does France Need A 21st Century Revolution?

Tyler Durden's picture




 

Submitted by Saxobank's Steen Jakobsen via TradingFloor.com,

French President François Hollande unveiled his new government under Prime Minister Manuel Valls on August 26, and there have been a few changes. While most senior ministers have retained their positions, economic minister Arnaud Montebourg was replaced by Emmanuel Macron, a former investment banker and economic adviser at the Elysée.

Hollande is already the most unpopular president in French history so he is not risking much by removing a political opponent like Montebourg (who should never have been part of a so-called reform program to begin with). Montebourg is a man of the old school and of old ideas: Among other things, he titled himself "Minister of Industrial Resurrection." His ideas included threatening to fine businesses for each job they failed to create and speaking against globalisation.

French citizens participate in a general strike

Mired in economic stagnation and barely concealed unrest, France is a nation that often seems displeased with its lot. But will things have to get worse before they get better? Photo: Getty

The problem for President Hollande and any reform efforts is that, as much as removing Montebourg was a victory for his economic strategy, it was also a loss in terms of his political ability to rule both his party and the French state. We often forget that economic policy without political backing is like skiing without snow: Policy needs political anchoring. 

The supply-side economics and ideas of Prime Minister Valls are good, but they are not sufficient to stop the "rotting of France". More and more observers argue that what France needs is either an European Central Bank that goes into full Quantitative Easing mode, a France that pushes for fiscal expansion, or even both. Not only is that short-sighted, it´s also wrong: France needs a new political system, a new tax regime, a less bloated government sector, and fewer subsidies. France is not lost, it´s just disorientated and lacks purpose.

France is its own worst enemy. It believes in old virtues and ideas from a time gone by. Dirigisme, the French version of socialist capitalism, has failed. In its place there needs to appear a a robust commitment to its strong and well-educated workforce. France has the ability to innovate and its early stage small- and medium-enterprise support ranks among the best in the world. Unfortunately, its tax policy, its inability to attract capital and — more importantly — its dismal return on capital are significant impediments to new growth or any reforms.

France needs a Thatcher moment, with a new leader brave enough to get elected on a mandate for change. It needs a leader brave enough to tear down a political system that generates macro- rather than micro-scaled policies, an elitist society with too many incentives for bad behaviour and disincentives for private initiative, innovation and hard work. With or without Hollande, France just doesn’t seem ready to change yet. That is why we need a deep recession and even a depression before we see real change. Real changes can only emerge from a true crisis.

The good news is that France that has never been closer to this mandate for change than now, if only because we are quickly approaching the point where things can’t get any worse. French history is full of examples of crisis yielding quickly to dramatic change. The one that comes most quickly to mind is when King Louis XVI lost his monarchical powers during the French revolution. He inherited an enormous state debt (sound familiar?) and tried a number of policy moves, but in the end the crisis overwhelmed him, and he and his Ancién Regime subordinates lost not only their power, but their heads.

It’s time for a 21st century revolution in France. Dirigisme is dying. Vive la France.

 

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Sun, 08/31/2014 - 21:32 | 5166230 WeTheSheeplez
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Wake me up... when they start re-furbishing their Guillotines...

Sun, 08/31/2014 - 21:49 | 5166267 Publicus
Publicus's picture

They can order online from Alibaba.

Sun, 08/31/2014 - 21:58 | 5166296 MalteseFalcon
MalteseFalcon's picture

I have np gripe against the French, but I don't think the French matter much anymore.

Sun, 08/31/2014 - 22:17 | 5166335 philipat
philipat's picture

So why is The US following the French model. After it gets control of Healthcare, USG will control almost 70% of the US economy. Slightly more than France....The balance is owned by the oligarchs.

Sun, 08/31/2014 - 22:30 | 5166372 wee-weed up
wee-weed up's picture

Cue the image of the poor sad WWII weeping Frenchman...

Sun, 08/31/2014 - 22:57 | 5166435 LetThemEatRand
LetThemEatRand's picture

"France needs a Thatcher moment..."

More offshoring, crony capitalism, flag waving and pointless wars is what France needs?  Oh right, the new ZH.

Sun, 08/31/2014 - 23:31 | 5166523 max2205
max2205's picture

Framuslim.....its not just for breakfast anymore

Mon, 09/01/2014 - 00:39 | 5166626 The Big Ching-aso
The Big Ching-aso's picture

Some of the world's greatest whines come out of France.

Mon, 09/01/2014 - 07:29 | 5167017 GetZeeGold
GetZeeGold's picture

 

 

Remember the Vendee? Ann Barnhardt does.

 

450,000 people dead....in a very small area. Now that's efficiency.

https://www.youtube.com/watch?v=qaMLoLtFn6s&feature=player_embedded

Mon, 09/01/2014 - 10:49 | 5167398 Manthong
Manthong's picture

Whoa.. now that is an interesting take.

BTW.. I have some 800 grit emory cloth for the blades...

liberty fraternity equality bitches.. F me with a French spoon.

Mon, 09/01/2014 - 11:52 | 5167686 Analyse2
Analyse2's picture

The Vendée wars: Estimates of those killed in the Vendean conflict – on both sides (republicans and royalists) – range between 117,000 and 450,000, out of a population of around 800,000.

http://en.wikipedia.org/wiki/War_in_the_Vend%C3%A9e

True, in some aspects, it looked like a genocide ... but it was in 1793-96 ... and the USA cannot give lessons in that matter : remember by instance the also very small areas named HIROSHIMA and NAGASAKI full of innocent civilians and children ...

Mon, 09/01/2014 - 12:37 | 5167865 TBT or not TBT
TBT or not TBT's picture

Yeah fighting house to house across the Japanese homeland would have been so much more humanitarian.    Read a little about how the conventional fighting in the Pacific went on for a couple decades in the Pacific before emoting ignorantly about the little bitty nukes unleashed on Hiroshima and Nagasaki.   

Mon, 09/01/2014 - 13:40 | 5168106 screw face
screw face's picture

fuck the french!

Mon, 09/01/2014 - 14:19 | 5168273 Analyse2
Analyse2's picture

I guess Hitler said precisely this before destroying the town of Rotterdam full of innocent civilians and children ...

Mon, 09/01/2014 - 14:24 | 5168287 Analyse2
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Spare German soldiers's life ...

Mon, 09/01/2014 - 15:08 | 5168447 Analyse2
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Kind of humanitarian bombs !

Mon, 09/01/2014 - 01:05 | 5166657 Nick Jihad
Nick Jihad's picture

So you recommend halfwit Labour policies instead?  They've already gotten a good start there, importing a Muslim underclass that has a much higher fertility rate than the natives.

Mon, 09/01/2014 - 01:24 | 5166678 LetThemEatRand
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Hmm.  Bringing Muslims into the debate?  NSA much?

Mon, 09/01/2014 - 01:51 | 5166704 The_Dude
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I'm pretty sure the next revolution ends with Sharia also...you should open your eyes to the reality of what is happening. Delude much?

Mon, 09/01/2014 - 01:54 | 5166714 LetThemEatRand
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Right.  That is certainly what the NSA would say.  If you are against us, you believe in Sharia law.  That bullshit didn't use to sell here, but now it does.  So preach on, NSA brother.

Mon, 09/01/2014 - 02:06 | 5166720 The_Dude
The_Dude's picture

Please explain what trend that you see would happen to prevent it...

Here are a few from my view....weak/failing economy in Africa & ME which is driving immigration(check), EU policy slowing immigration (nope), White European guilt (check...and not going away), apathetic French policies that allow for segregation and social conflict (check)....I can go on so please explain

Oh...and your accusation that anyone that disagrees with you is NSA is annoying so please stop

Mon, 09/01/2014 - 02:07 | 5166726 LetThemEatRand
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Cue Rod Serling with an ominous warning about people being worried about Muslims taking over.

Jesus, The Dude, I've lived in the U.S. all my life.  Traveled Europe in my younger years.   I am quite sure from my own experience that this is not a threat.  Why don't you go ahead and give me examples of Sharia law in the U.S. or Europe?  Oh, right.  Future threat that requires bombing of other countries in anticipation of Iowa turning Muslim.  Got it.

Mon, 09/01/2014 - 02:23 | 5166748 The_Dude
The_Dude's picture

You delicately tiptoed around my question.

I have been to France recently, Paris specifically, and it is increasingly does not look anything like it did 20+ years ago.

Here is one reference but I haven't had any chance to research the source so I am sure that you will condemn it for one reason or another:
The Islamization of France in 2013:
http://www.gatestoneinstitute.org/4120/islamization-france

One quote from it: "67% said they no longer feel at home in France." - if that doesn't shock you, I don't think I can help you.

I could site numerous examples of creeping Sharia but I doubt it would have any influence on you because like so many, you are comfortable in your reality distortion field and choose not to open your eyes.

Mon, 09/01/2014 - 02:35 | 5166755 LetThemEatRand
LetThemEatRand's picture

From your article, and what's your point?  "A survey published in the Paris-based newspaper Le Monde on January 24 found that 74% of French citizens view Islam as "intolerant" and "incompatible" with French values. The survey, conducted by Ipsos, also found that 70% of respondents said there are too many foreigners in France, and 67% said they no longer feel at home in France."  Sounds like Texas.  Shall we bomb Mexico?  Or America for turning Mexican, or France for wanting to adopt Sharia law?

Mon, 09/01/2014 - 02:36 | 5166759 The_Dude
The_Dude's picture

Are you fucking kidding me? French people feel like the country has changed around them and they no longer feel comfortable in their own country and you want to point your finger at them!! You are fucking brainwashed....seek treatment!!

Mon, 09/01/2014 - 02:41 | 5166763 LetThemEatRand
LetThemEatRand's picture

No, you need treatment.  The French dislike immigrants, like you.  Probably more than you.  Fuck, the French have a council on keeping their language pure.  There is no danger of Sharia law in France, which I think was your original point.  Show me again the parts of France that have converted to Sharia law.  Or are we bombing due to future concerns?

Mon, 09/01/2014 - 02:48 | 5166770 Harbanger
Harbanger's picture

Why can't you just learn to get along?  Were you ever tested by HTL?  It may be an imbalance.

Mon, 09/01/2014 - 02:49 | 5166772 The_Dude
The_Dude's picture

Here's the thing LTER, like so many libs, you don't know when to say stop and you can't admit your mistakes. You started with a belief that diversity was a good thing and encouraged it. It came, and more, and more, and more. At this point you are too invested with the idea and can't come out and say that you only thought a little would be nice but too much can be bad. Libs fail to think things through to logical conclusions. So instead of the 'Mea Culpa' you double down. Putting everything at risk to save your little ego.

Mon, 09/01/2014 - 02:59 | 5166777 LetThemEatRand
LetThemEatRand's picture

In my family tree is:  Russian, English, Irish, Peruvian, French, Canadian, and (possibly) native American.   And that's just what I know about with a grandmother who came from an orphan train.  So fuck you.  Oh, but I don't have any Muzzies in the background (that I know about).  So fuck them, right?  After all, America was built on ethnic intolerance, for every ethnicity that we don't have in our backgrounds.

America is one of the few countries that shows up at the Olympics with blacks, hispanics, asians, whites, etc.  Most every other country is of one identity.  

Mon, 09/01/2014 - 03:08 | 5166788 The_Dude
The_Dude's picture

And so in your book, if they show up with a common culture, language and genetic background, they are evil/wrong/inferior....sounds to me like you have the makings of a multi-cultural bigot. Thanks for showing your true colors.

Go to India and tell them that there are too many Indians...or China and tell them there are too many Chinese.....or do you just reserve your schtick for some people.

Mon, 09/01/2014 - 03:12 | 5166800 LetThemEatRand
LetThemEatRand's picture

"And so in your book, if they show up with a common culture, language and genetic background, they are evil/wrong/inferior..."

No, just not America.  Maybe America is wrong for being diverse.  I think we're right.  You obviously think we're wrong.  

Mon, 09/01/2014 - 03:25 | 5166819 The_Dude
The_Dude's picture

I think that you and the other social liberals have started us down a very dangerous path that ends up with Balkanization and conflict. But again, you cannot admit the risks/fault and are willing to pass those consequences to future generations.

There is a reason that early American immigration policy was structured to bring in people of diverse backgrounds but similar cultural backgrounds (hence your family mix). That had been replaced with one with not regard for cultural differences.

We see conflicts at the border of every cultural overlap throughout the world, and you have invited that into the US.

Mon, 09/01/2014 - 03:36 | 5166832 LetThemEatRand
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"I think that you and the other social liberals have started us down a very dangerous path..."

Of creating America.  It is indeed, dangerous, to people who are scared by my olympic reference above.  It's okay, though.  Go to Walmart and buy a riding lawnmower from China and a beer from Ireland and get yourself some gas from Muzzieland.  And buy it all with.  You know.

Mon, 09/01/2014 - 03:47 | 5166849 The_Dude
The_Dude's picture

Of creating America...No..remaking...or if it helps keep your brainwashing in effect.... Hope and Change

You keep avoiding my questions...but I would expect no less of a good lib. I am sure your ego will let you off....I am not so sure future generations will.

Mon, 09/01/2014 - 03:11 | 5166797 The_Dude
The_Dude's picture

FYI...here is one reference....If the President of France is tiptoeing around the issue, you know that he is afraid of it...

http://www.frontpagemag.com/2012/dgreenfield/future-president-of-france-...

Mon, 09/01/2014 - 03:13 | 5166803 LetThemEatRand
LetThemEatRand's picture

He's not actually the President of France, dim bulb.

Mon, 09/01/2014 - 03:30 | 5166828 The_Dude
The_Dude's picture

No shit, asshole...I provided the article as a response to one of your earlier questions...apologies if I didn't point out that he was a candidate but gave you the benefit of the doubt of having a lukewarm IQ (maybe I shouldn't have)

You still have avoided my question over and over...do you care to try it now?

Mon, 09/01/2014 - 03:41 | 5166839 LetThemEatRand
LetThemEatRand's picture

"FYI...here is one reference....If the President of France is tiptoeing.."

Sorry for quoting you.   I hear that LED lights require less elecricity.  So shine on, my friend.

Mon, 09/01/2014 - 03:53 | 5166854 The_Dude
The_Dude's picture

Fuck...LED lights.....again with the arrogant Lib superiority complex...get over yourself

Mon, 09/01/2014 - 07:24 | 5167006 MalteseFalcon
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A typical 'American' assumption is that different ethnic, racial, and religious types can be 'assimilated' into America with the aliens becoming 'Americans' within 3 generations. 

50 years after the immigration law of 1965 and the civil rights law of 1964 we find that this assumption is no longer true.  Some racial, and religious types are not capable of assimilation or reject it.  The America of the last 50 years is not the America of a century earlier.  The frontier is closed.  The world is 'smaller' and America is more prone to manipulation from outside of the country. We find that in certain quarters that the assimilation concept has been superceded by the idea of 'diversity' where it is no longer necessary for immigrants to ever become 'Americans'.  Indeed 'Americans' should adjust to the newcomers.  We find that certain political operatives see more opportunity in having 'distinct' minorities and 'balkanizing' America.  After 50 years we can no longer assimilate aliens if for no other reason than there are too many.  America needs to pause for a generation or two and assimilate those we have now.

The argument is made that we need cheap labor or cheap brain power.  In that instance we would best 'import' east Asians and Mexicans only.  Yet large numbers of Moslems and Africans are imported from countries that are supposedly America's 'enemies'.  Why do that?  These people cannot be assimilated.

The ultimate answer to many seemingly puzzling questions is that the policy serves the empire and the people who run it.  Not the people, the empire.  Those that support the current immigration without knowing this are merely useful idiots.  The people overwhelmingly reject this policy, but their voice means nothing. 

Mon, 09/01/2014 - 07:26 | 5167020 piratepiet
piratepiet's picture

"America is one of the few countries that shows up at the Olympics with blacks, hispanics, asians, whites, etc.  Most every other country is of one identity." 

You seem to equate identity with race.  This is not accurate imho.

Mon, 09/01/2014 - 10:09 | 5167235 JRobby
JRobby's picture

I believe Greenspan has. So what?

Mon, 09/01/2014 - 04:12 | 5166867 brucyy
brucyy's picture

Cute . 

but France already has that. Ever started a business there and noticed a difference ? The french big multinationals have massive offshore accounts and 8% corporate taxes , Are you gonna blame the very dead margaret for that too ?  Yet , i can assure you she is not exactly popular in the socialist wonderland , quite the opposite.Yet..

What you don't know is that , additionally , france has the highest combined tax rate on this planet for the poor old fools paying them , the highest public spending , and less than 50% of the active population paying for everyone else.

But i agree , nice place for some holidays.

I love ayn rand , great books

Mon, 09/01/2014 - 04:31 | 5166880 ebear
ebear's picture

"But i agree , nice place for some holidays."

True, just don't go there when the French take theirs.

Mon, 09/01/2014 - 07:07 | 5166999 samcontrol
samcontrol's picture

wee weed, really?

Bringing back old 1945 jokes.

In that all you have to say u retarted drug addict . Bet you never left your farm besides seaworld..

Mon, 09/01/2014 - 09:20 | 5167125 hairInTheSoup
hairInTheSoup's picture

private & highly costly healthcare (obamacare didn't nationalize the health care system whatsoever, just boost the private healthcare insurance business), one week paid holidays (no labour laws in the tube), no unemployment benefits (same)

vs

free healthcare being privatized every day, 6weeks paid holidays & good unemployment benefits (labour laws being eased every day)

you got it the wrong way round !

Mon, 09/01/2014 - 12:46 | 5167899 TBT or not TBT
TBT or not TBT's picture

And you get to live in dinky old housing stacked on top of and underneath other badly housed people.   You get crowded crammed everything.   Expensive dinky little cars.  10$ gas.   And your town surrounded by and I interspersed with tower blocks full of Muslim culture savages with particular designs on your daughter, your stuff, and your country.  

Sun, 08/31/2014 - 22:43 | 5166415 Kirk2NCC1701
Kirk2NCC1701's picture

It is not the French but the Brits and especially the Americans who desperately need to revolt against their revolting regimes.

Nice try at preemptive deflection and redirection. Typical Neocon shill.

Sun, 08/31/2014 - 23:00 | 5166440 LetThemEatRand
LetThemEatRand's picture

And the new ZH that the Tylers would feature such tripe.  It's changed.

Sun, 08/31/2014 - 23:31 | 5166520 Publicus
Publicus's picture
He can't post about the USA as he is US based. Sedition is a crime. So France is it. Read between the lines.
Sun, 08/31/2014 - 23:45 | 5166557 LetThemEatRand
LetThemEatRand's picture

It's ridiculous fucking shit like this that makes this place ... ridiculous now.  They are not U.S. based, and... Nevermind.  Back to the new ZH with you.  Enjoy.

Mon, 09/01/2014 - 01:08 | 5166659 Nick Jihad
Nick Jihad's picture

Talk about irony - if there is anyone that I associate with the new ZH, it's you.

Mon, 09/01/2014 - 03:23 | 5166670 LetThemEatRand
LetThemEatRand's picture

See, that's just dishonest  You've been here for over 4 years.  Please link me to your past posts, NSA guy who names himself Jihad.  Because I sure as fuck don't remember seeing your wisdom here before (and I'm talking about more than 4+ months ago, when you were still an old-timer).  Show me.  Do you and Tylers have a thing now?  Seriously, Tylers.

EDIT:  No links.  No references. 

Mon, 09/01/2014 - 10:14 | 5167244 JRobby
JRobby's picture

The voices growing louder and louder now..........

Check the door: 4 dead bolts - check

Windows: screwed shut, thick drapes drawn.

"But the voices won't stop" I'm, I'm ..............

Sun, 08/31/2014 - 23:13 | 5166471 wee-weed up
wee-weed up's picture

 

 

I don't think the French matter much anymore.

OMG! The ultimate insult to Froggie narcissists and nationalists!

Irrelevance... a fate worse than death! Sacré bleu!

Mon, 09/01/2014 - 00:41 | 5166631 LetThemEatRand
LetThemEatRand's picture

Vrais.  La statue de la liberté est Francais.

Mon, 09/01/2014 - 02:57 | 5166779 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

I lived there for four years and visited many, many times. One thing you can say about the French: they do know how to take care of their country. You might be in a tiny town off the beaten path...and the roads are immaculate, everything is organized and thought out, and if there's anything historical (which there always is) then it is very well taken care of. Stop at a cafe or reataurant and you can get at least a good meal, quite possibly a spectacular one. Compare that to the US: crumbling highways & bridges, shitty infrastructure, don't get me started about the airports and train stations, an try finding anything edible in small-town America especially if you're away from the coasts, OMG. French GDP per capita is the same as the US, and their debt to GDP is also about the same. But a Frencman does not need to worry if he gets sick, or how to educate his kids.

Mon, 09/01/2014 - 03:09 | 5166792 Harbanger
Harbanger's picture

I know, we all had a great time on vacation.  The only thing a frenchman needs to worry about is getting VD from his wife. Oh!! now that's for a low blow.

Mon, 09/01/2014 - 03:24 | 5166818 brucyy
brucyy's picture

Right, You realize the State is the biggest employer in France ? Who do you think is PAYING for 'free' healthcare , 'education' ? ,Go to a cafe or restaurant , the only thing spectacular these day will be the bill, Dont get me started .. who's paying for the other 50% of the damn country enjoying the free lunch ?  That's right ,it's the same people leaving the forsaken country en masse to find a descent job or create a company without getting taxed into fucking oblivion ? 

I know , i was born there ,it sucked ,  I left ,  and i'll take America -any day- over France..

 

Mon, 09/01/2014 - 07:11 | 5167003 samcontrol
samcontrol's picture

hey Brucyy..

I used to take America over France. They have lost what
France never had. I do not agree with your lame comment. They BOTH suck.
I live in Argentina my new free life.

Mon, 09/01/2014 - 09:24 | 5167134 hairInTheSoup
hairInTheSoup's picture

"But a Frencman does not need to worry if he gets sick, or how to educate his kids."

 

nothin to compare with states but in fact more & more to worry about since the past 3 decades as government budgets are put more & more into weapons, less & less into education, as the health care system is being slowly but surely privatized (with this kind of article for the mass to act as a propaganda leverage)

Mon, 09/01/2014 - 03:03 | 5166785 Harbanger
Harbanger's picture

I know french.  So you like to slam frankfurters with wild abandon?

Mon, 09/01/2014 - 03:19 | 5166810 LetThemEatRand
LetThemEatRand's picture

You've never left Iowa, Harbanger, and you flunked French.

Mon, 09/01/2014 - 03:23 | 5166817 Harbanger
Harbanger's picture

Hmm? Never been to Iowa.  If you hate it, I'd probably like it.

Mon, 09/01/2014 - 04:28 | 5166871 The_Dude
The_Dude's picture

Why do you hate Iowa so much, LTER?...Your partner ( correct nomenclature for Cali, right?) been hiding corncobs?

Mon, 09/01/2014 - 08:17 | 5167054 shovelhead
shovelhead's picture

Not enough diversity and lefties in Iowa.

Lot of people still *gasp* go to church too.

Iowa is all that is evil in America.

Mon, 09/01/2014 - 06:45 | 5166976 wesson
wesson's picture

Française svp !

Mon, 09/01/2014 - 02:59 | 5166781 El Vaquero
El Vaquero's picture

If you're an American or a Brit, it is your duty to give the French shit.  But yeah, no problem with them here.  Just some good'ole ribbing.  Now, people from New Jersey, on the other hand, should be harassed mercilessly. 

Mon, 09/01/2014 - 03:41 | 5166835 Harbanger
Harbanger's picture

I like the French, they contributed much good.  A lot of trouble also but we will disregard that.

Mon, 09/01/2014 - 08:19 | 5167056 shovelhead
shovelhead's picture

Invented a crackerjack machine gun.

Sun, 08/31/2014 - 22:00 | 5166301 disabledvet
disabledvet's picture

Yeah..."like on a magic carpet...here come the head choppers."

Throw in a little Steppen Wolf and we'll be all back to normal in no time!

The only thing scarier than a French Revolution is a French Election!

Sun, 08/31/2014 - 22:18 | 5166351 Escrava Isaura
Escrava Isaura's picture

The level of ignorance, nonsense, and laziness is shocking!

 

AXA is one of the world's largest insurance companies; Air France is the world's largest airline company in incomes; L'Oreal is the world's largest cosmetic company; LVMH and PPR are the world's largest and second-largest luxury product companies respectively; GDF-Suez is the world's largest energy company; EDF is the world's largest utility company; Areva is a large nuclear-energy company; Veolia Environnement is the world's largest environmental services and water management company; VINCI, Bouygues and Eiffage are respectively world's 1st, 2nd and 4th building and public work companies; Michelin is the world's pneumatic leader; Lafarge is the world's largest cement company; JCDecaux is the world's largest outdoor advertising corporation; BNP Paribas, Credit Agricole and Societe Generale are respectively the world's 1st, 6th and 8th biggest banks in assets in 2010;[17]

Carrefour is the world's second largest retail group in terms of revenue; Total is the world's fourth largest private oil company; Danone is the world's fifth largest food company and the world's largest supplier of mineral water; Sanofi Aventis is the world's fifth largest pharmaceutical company; Publicis is the world's third largest advertising company; PSA is the world's 6th and Europe's 2nd largest automaker; Renault-Nissan is the world's leading electric car developer among major automakers; Accor is the leading European hotel group; Alstom is one of the world's leading conglomerates in power generation and transport; Pernod Ricard is one of the world's biggest producer of distilled beverages (owning the former Seagram distilleries).

In 2008, France was the second-largest recipient of foreign direct investment among OECD countries at $117.9 billion, above the United Kingdom ($96.9 billion), Germany ($24.9 billion), or Japan ($24.4 billion).[18][19] In the same year, French companies invested $220 billion outside France, ranking France as the second most important outward direct investor in the OECD, behind the United States ($311.8 billion), and ahead of the United Kingdom ($111.4 billion), Japan ($128 billion) and Germany ($156.5 billion).[18][19]

http://en.wikipedia.org/wiki/Economy_of_France#France.27s_world_leading_corporations

 

Sun, 08/31/2014 - 23:23 | 5166389 KnuckleDragger-X
KnuckleDragger-X's picture

Yep, it's all true but the French version of socialism is very slowly cracking up and the government doesn't really know what to do about it. They need to make some radical changes in their governing philosophy but they don't want to upset the people. Should be interesting.

Mon, 09/01/2014 - 18:33 | 5169121 TBT or not TBT
TBT or not TBT's picture

 Very large government is conducive to very large businesses.     No surprise there is a psychotic level of concentration in French industries across the board.   We are headed the same way very fast since Pelosi and Reid took the congress, and president Goldman Sachs came in to sign off any piece of crap they'd write up.   

Sun, 08/31/2014 - 22:47 | 5166423 disabledvet
disabledvet's picture

Who? Oh, yeah. Now I remember....

Mon, 09/01/2014 - 03:20 | 5166813 damicol
damicol's picture

So What, they all make most of their money outside France.

 And the French banks, far from some of the biggest are in fact some of the most insolvent banks in the world.

 

Mon, 09/01/2014 - 03:45 | 5166846 brucyy
brucyy's picture

What a lovely list there. 

You know how to use wikipedia , and you probably think paris is nice because you went there once.

Let me tell you exactly what's happening :

anyone with a brain either left , or has friends in the right places (elite circles). Truth is , France is ironically the biggest , most disgusting oligarchy of the western world.  The home of scums like pickettys and hollande in his luxurious castle , king size bed and three stars personal cook . Socialism is for the rich.I ended up with capitalism on hypertaxation. The corporation you listed are not corporations , they -are- the french state and don't pay taxes . 

i started a company years ago in france , it was nearly impossible to hire a few people and survive more than two fiscal years.

please , shut it , don't make it more painful than it already is.

Mon, 09/01/2014 - 03:58 | 5166858 Ghordius
Ghordius's picture

that's actually one of the points of the article: the French "socialist capitalism" - which actually has a more classical name, State_capitalism

add to that the French attitude to their state elite schools, and you have the French "Dirigisme" which some Brits, Dutch and Americans often critizize

the system gives lots of political attention to Big Biz. and the real problem of it is it's neglect of Small and Medium Biz

compare and contrast to what Germany does with the "Mittelstand", and you'll find all this mentioned in a few Hollande speeches

my point is that wishing for a new business-political culture is one thing, achieving it a different one, yet the French seem to want to adopt a more German model than going full "disorderly" with a Tatcherite approach

Mon, 09/01/2014 - 05:39 | 5166924 falak pema
falak pema's picture

Old habits die hard.

One issue that is of interest in this "head up ass" elitist fight that statist socialists have been using, in their ideological battle against change through less government controls and more civil society initiative; aka small business renaissance; has just been aired as a last effort desperate knee jerk  :

"We socialists do not have in our VOCABULARY the concept of social liberalism that Valls now proposes"; aka the adherence to the German model of Schroeder days, which was an evolution of Rhineland capitalism to more labour/capital participative methods as you have highlighted here.

This affirmation by the french intellectual class of the Left is an historical lie.

It is true the Jacobins who run France since the Revolution --as their right wing counterparts the Bonapartists-- believed in Colbertist type dirgisme from day 1 after Republic was born.

But, the ideas that fed that Revolution were those of the Enlightenment.

And Enlightenment was ALL ABOUT SOCIAL CONTRACTS AND LIBERAL ECONOMIC INITIATIVE ! 

So in many ways the French Republic betrayed the fertile terrain of Enlightenment ideas to adopt, on both sides of the political aisle, the old ideas of Colbertism dressed up as Jacobinism or Bonapartism. 

Now two hundred years later, especially since Pax Americana began and has opened up the world economy to market systems and competition--which has hotted up tremendously in the Oil imported and outsourced production age; for better or for worse; -- France has to change its tune; as the Losers of WW2 did post 1945.

Japan and Germany were the early powerhouses of the 70s post BW revoke and global oligarchy ramp up initiated by the Dear Henry/Nixonian age.

Japan was subsequently stunted by US imposed Plaza/Louvre monetary accords and went into internal asset pumping (RE) tail spin. Now its the entire first world that will suffer the same pains.

Whatever the paradigm that comes out of this awesome conundrum, France cannot continue doing what it has done since centuries. 

Dirgisme is an old bad habit.

And, the ENA school, its elitist quintessential powerhouse, has made France now Land of Madoff!

I refer to its banking sector all run by France's "best and brightest" sons of dirigisme! 

Like their original Templar counterparts of the "God wills it" obscurantist cum dirigiste age, they will bite the dust again. (In those days it was during  the bonfire of the Island of Jews in Central Paris!)

It makes you wonder if Man ever learns anything, except good ole "bunga bunga forever"!

 

Mon, 09/01/2014 - 06:06 | 5166941 brucyy
brucyy's picture

very informed post falak.

thanks

 

Mon, 09/01/2014 - 06:06 | 5166942 brucyy
brucyy's picture

.

Mon, 09/01/2014 - 07:20 | 5166983 Escrava Isaura
Escrava Isaura's picture

 

Dear,

damicol, for “they (French) all make most of their money outside France.

brucyy, for “most disgusting oligarchy of the western world”, and “anyone with a brain”

Ghordius, for “State Capitalism

And falak pema, for… What can I say, when you are in a class of you own 

 

Thank you

 

 

By the way,

My previous post was in regard to the ignorance of MalteseFalcon, who wrote: “I don't think the French matter much anymore.

And the nonsense of disabledvet, who wrote: “Yeah..."like on a magic carpet... scarier than a French  Election!

 

But your posts, and its contents, more than made it up for all the misinformation’s and meaningless jargons.

 

Mon, 09/01/2014 - 09:17 | 5167105 MalteseFalcon
MalteseFalcon's picture

Oh I see.

In no way are the interests of France subordinant to the EU or the USA.

The entire French system and French banks are not dependent on handouts from the FED for their very existence.

And France has its own foreign policy.  It is in no way subordinant to the USA.

France's presidents are drawn from the French themselves and steeped in French culture and history.  The idea of a non-French, CIA created interloper becoming the president of France is just laughable.

And French is the language of choice all over the world.

And French culture is being readily adopted by people all over the world, particularly the intelligentsia.  I can't wait to see the French film that won France's highest film award.  Got to figure out what film that is first.

Vive le France.

 

Moron.

 

Mon, 09/01/2014 - 09:20 | 5167126 Ghordius
Ghordius's picture

subordinate to the US? France left once long time ago the NATO and later defied Bush on Iraq, which led to the Freedom Fries, remember? if this is subordinate, it's also a bit unruly so

subordinate to the EU? well, it's part and participant to it

own foreign policy? yes, though not always enough ammo for it. but this is anyway a different matter. Remember France's attitude versus Syria?

I'm not going into the language thing, except to say that in languages, there is one real divide in Europe: between monoglots and polyglots

take the Liberty Sauce with the Freedom Fries, it's better than Ketchup, and moar patriotic

Mon, 09/01/2014 - 16:15 | 5167353 MalteseFalcon
MalteseFalcon's picture

Nice bit of trifling there.  France is allowed to be rebellious for domestic consumption.

Does France occupy a strategic position in the world?  Not since the 18th century.

Is France a source of hydro-carbons?  Nope.

The lead country in the EU is France or Germany?  I'll leave that as an exercise for the student.

Mon, 09/01/2014 - 18:38 | 5169135 TBT or not TBT
TBT or not TBT's picture

They've got.quality nukes and delivery systems and lots of home.grown muzzies.   What's not to like?   

Mon, 09/01/2014 - 20:06 | 5169379 MalteseFalcon
MalteseFalcon's picture

OK.  I'll give you the nukes, but they will have to start waving them.

Sun, 08/31/2014 - 22:48 | 5166428 FrankDieter
FrankDieter's picture

Cartel dumping gold in Asia.   Must be Ukraine, Iraq / ISIS, Gaza, Syria, Pakistan is settled and all okay again. Right ?

Mon, 09/01/2014 - 08:01 | 5167041 RiverRoad
RiverRoad's picture

Looks like the interminable can-kicking has come to a fork in the road...

Sun, 08/31/2014 - 21:41 | 5166243 alexcojones
alexcojones's picture

We need something akin to a Revolution but I fear it may resemble an "Un-Civil" War.

"Those who make peaceful revolution impossible will make violent revolution inevitable."

So wrote the last patriotic president shot out of office

John F. Kennedy


Mon, 09/01/2014 - 01:11 | 5166665 Nick Jihad
Nick Jihad's picture

JFK said a lot of horseshit. In love with the sound of his own voice, just like Obama.

Mon, 09/01/2014 - 01:48 | 5166702 TheReplacement
TheReplacement's picture

Did not JFK okay the ixnay on the hombre Diem by the CIA and put out a contract on Castro?  How is that different from the current crop of interventionalists?

Mon, 09/01/2014 - 02:39 | 5166761 Terminus C
Terminus C's picture

Diem was a warning, not an order.

JFK did not heed the warning and he got the Diem treatment.

Sun, 08/31/2014 - 21:48 | 5166263 Atomizer
Atomizer's picture

Time to step into the shadows of a new crisis. How does it feel to manipulate headlines? Cunts! 

http://www.bis.org/

 

Sun, 08/31/2014 - 21:48 | 5166264 Yen Cross
Yen Cross's picture

 Those Oats, must be high in fiatskis/

 France
     Name    Yield    Prev.    High    Low    Chg.    Chg. %    Time
   
    France 10Y    1.264    1.255    1.272    1.234    +0.009    +0.72%    0:15:44

    The French 10year OAT is THAT LOW in yield?

 Overshot much Mr. Yellen ( raising rates)  hahahahahaha/

Sun, 08/31/2014 - 21:49 | 5166266 starman
starman's picture

Viva la revolucion! in 3 2 1!

Sun, 08/31/2014 - 21:50 | 5166270 fleur de lis
fleur de lis's picture

The French Revolution was planned and managed by the same schemers who inflicted the Bolsheviks on Russia a hundred years later. They never let up. They currently have DC turned upside down and are using our armed forces and finances to turn the Middle East upside down. Now they're tearing America to shreds.

Sun, 08/31/2014 - 21:57 | 5166295 Seize Mars
Seize Mars's picture

Fleur de lis
Yes you are correct. A good first step is to simply name them.
It's the Rothschilds.
Stop them, and all the bullshit stops.

Sun, 08/31/2014 - 22:46 | 5166418 fleur de lis
fleur de lis's picture

The Rothschilds are disgusting. However they could not create and manage so much evil themselves--they have lots of help. It's amazing how easily they attract rot.

Sun, 08/31/2014 - 22:48 | 5166431 disabledvet
disabledvet's picture

Called "the World Bank" now. How's that for Karma? "So rich they're a political entity based out of Washington." How the mighty have fallen....

Sun, 08/31/2014 - 23:34 | 5166529 Elvis the Pelvis
Elvis the Pelvis's picture

I'd love to live in France.  I like free health care.  Plus I enjoy wine and cigarettes.  Send me to Paris and give me a free apartment.

Mon, 09/01/2014 - 01:36 | 5166688 hibou-Owl
hibou-Owl's picture

I have lived in France for two years, own a small farm. The land is the most productive I've seen, plenty of water, and sun.

Only problem is getting things done!!! The French don't do anything July/August, take many days off, businesses often close Monday or Tuesday, and they don't follow up on anything. The economic issues are a cultural matter.

Mon, 09/01/2014 - 03:42 | 5166840 Escapeclaws
Escapeclaws's picture

Be careful what you wish for.

Sun, 08/31/2014 - 21:54 | 5166281 JulienFR
JulienFR's picture

History is tragical. 

Sun, 08/31/2014 - 22:48 | 5166430 Chief Wonder Bread
Chief Wonder Bread's picture

Or farcical. One or the other.

And the HELL things can't get any worse (not that reform isn't needed now.)

Mon, 09/01/2014 - 06:52 | 5166985 Zwelgje
Zwelgje's picture

And how much is fake?

Sun, 08/31/2014 - 21:55 | 5166284 logicalman
logicalman's picture

Does the WORLD need a 21st century rovolution?

Might be the only hope, IMHO.

The present path shows very little promise for the future.

 

Mon, 09/01/2014 - 03:03 | 5166783 UselessEater
UselessEater's picture

A contrived revolution is likely.

Sun, 08/31/2014 - 21:57 | 5166294 SocialismIsCancer
SocialismIsCancer's picture

What France needs is a very long intense people and equipment consuming non-nuclear war with the Russians - that will solve both problems of excess population and stagnant economy.

Mon, 09/01/2014 - 01:51 | 5166708 TheReplacement
TheReplacement's picture

They dare not.  No EU country does.  They all have fifth columns built-in against them at home.  Between the current class of youth that can't fight its way out of paperbag and ghettos full of resentful Muslim youth with no real prospects they wouldn't last as long as Kiev already has.

Mon, 09/01/2014 - 09:32 | 5166866 Escapeclaws
Escapeclaws's picture

You speak of Muslim youth in ghettos. But the jihadists will soon establish their caliphate in Yurp. This can come about in two ways. First, the people can vote for candidates and policies that favor Islamization. Second, if that fails, as it clearly will, the caliphate can be established by activating quiescent jihadist cells that are already profusely imbedded in the population and are ready to strike to bring Yurp to its knees.

These jihadists must be reveling in all the antisemitism that is taking place in Yurp. It takes attention away from the enormous threat they represent.

Look at YouTube videos of Gerst Wilders who, despite the death threats he has received and the need of a police escort, has decided to devote the rest of his life to raising consciousness on this issue. Read books by Samuel Laurent "Salafisme" and "Al Qaida en France". There are also many YouTube videos of the jihadists themselves explaining quite openly what their plans are--they have nothing to hide since they know they will prevail.

What most people fail to understand is the enormous power that religious belief has to motivate behavior. Fat, dumb and happy agnostics, given over to pleasure seeking, are simply incapable of--to the point of mental disability--appreciating this force. For this reason alone, barring divine intervention, Yurp will submit to Islam.

Sun, 08/31/2014 - 21:58 | 5166297 stormsailor
stormsailor's picture

jeez louise,  revolution in france.  they might hurt themselves rushing to surrender to each other

Sun, 08/31/2014 - 22:01 | 5166311 disabledvet
disabledvet's picture

Right up to the point where they invade Italy instead...

Sun, 08/31/2014 - 22:27 | 5166379 wee-weed up
wee-weed up's picture

jeez louise,  revolution in france.  they might hurt themselves rushing to surrender to each other

-----------------------------

What a hoot! Good one! +100

Sun, 08/31/2014 - 23:30 | 5166516 Seize Mars
Seize Mars's picture

Stormsailor
Fuck you.
I am assuming you meant where they were overcome in a flash by nazis. Great. Endure a brutal foreign occupation and get mocked for it.
Or did you mean the previous brawl with Germany? They didn't give a fucking inch and they paid for that in blood.

Mon, 09/01/2014 - 01:58 | 5166718 TheReplacement
TheReplacement's picture

One might be surprised to learn that a good number of French folks were fine with the Germans and even went along.  Vichy anyone?  Who hunted the Jews in France?  The French.  Who spied on the French?  The French.  They even formed their own SS unit. 

The  French Resistence didn't really do much until the tide began to turn - D Day.  Go figure.

France was so over so long ago.  Even when they "didn't give a fucking inch" they had allies like Italy, England, US, and Russia against Germany.  Could France have fought Germany solo?  Magic 8 Ball says, "Unlikely".

Mon, 09/01/2014 - 04:54 | 5166892 Analyse2
Analyse2's picture

@TheReplacement

As apparently History is not your favorite subject I’ll give you a more complete view:

Vichy

In all occupied countries by the Nazis, some citizens, driven by nationalism, ethnic hatred, anti-communism, anti-Semitism, or opportunism knowingly engaged in collaboration. The LVF (Legion Volontaire Francaise), the French volunteer army that the Germans tried to organize, was a gigantic flop: Only a division was supplied to the German army, whereas the Netherlands (with a 4 times less important population) supplied 2 divisions.
British and American sources always noted how loyal and effective had been the French Underground in organizing the rescue of allied airmen shot in France, and in providing priceless intelligence, this at the risk of death, torture, deportation, etc

 

The Jews

In all occupied countries, the Jews have been quite completely exterminated during WW2. In occupied France, “only” (if we may say) 25% of the Jews have been deported. Most of the Jews succeeded to survive thanks to the active and passive resistance of a large part of the population.Consequently, France is now, by far, the country in Europe with the largest Jewish community (more than 600 000).

More

* Apart from the puppet government based in Vichy, there was a free government based in London under the authority of General De Gaulle.

* During the Italian campaign of 1943, 130,000 Free French soldiers fought on the Allied side (under General Juin)

* By the time of the Normandy invasion, Free French forces numbered approximately half a million regulars and more than 100,000 French Forces of the Interior (FFI).

The FFI in Normandy and the Île-de-France region surrounding Paris began to harass German forces intensively, cutting roads and railways, setting ambushes and fighting conventional battles alongside their allies. This caused the death, arrest, or deportation of 90,000 resistance fighters  -  http://en.wikipedia.org/wiki/French_Resistance

General Eisenhower estimated the value of the Résistance to have been equal to ten to fifteen divisions at the time of the landings  -  http://voices.yahoo.com/the-french-resistance-world-war-ii-400073.html

* The Free French 2nd Armored Division, under General Philippe Leclerc, landed in Normandy, and, in the waning days of summer 1944, led the drive toward Paris.

* 3500 French pilots served in the RAF  -  http://fr.wikipedia.org/wiki/Royal_Air_Force

* 6 Free French divisions did contribute hugely to the Provence landing (under General De Lattre de Tassigny). They held their ground in Alsace during the battle of the Bulge, disobeying Eisenhower’s orders to retreat.

* In 1945 the Allied Forces on the west front consisted in:  US: 45 divisions -  UK: 12 divisions -  France: 9 divisions -  Poland: 1 division.  In total, not a lot compared with the Soviet forces on the east side, the real winners of WWII.

Mon, 09/01/2014 - 05:11 | 5166904 Analyse2
Analyse2's picture

@TheReplacement - "Even when they "didn't give a fucking inch" they had allies like Italy, England, US, and Russia against Germany.  Could France have fought Germany solo?  "

Answer

In 1939 and 1940 France was let alone (apart from only 8 British divisions, which succeeded to re-embark at Dunkirk thanks to the sacrifice of the soldiers of the 1st French Army of the North ).

France was let alone facing a nazi-fanaticized country with a population of 80 million (vs. 40 million in France), a particularly well prepared war-industry, and an air superiority of 5 vs 1. 

At the same time the “US ally” refused to sell planes on credit to France !

Contrary to what has often been said, and is a result of the Nazi propaganda of that time, and the neo-cons hatred in 2003, the German advance (Blitzkrieg) encountered serious resistance from the French troops.

In the six week Battle of France, from May 10 to June 22, 1940, the French lost, in military personnel alone, 260,000 wounded and 108,000 killed. A total of 368,000 casualties in six weeks is not something to pass off lightly. This is 5 times more than the losses of the American army in three months of battles in Normandy in 1944 (21000), and nearly the same amount than the US deaths in 7 months of WW1 (116700) !

It is the air superiority (over 1,000 Stuka bombers knocked out the troops defending Sedan) and the intelligent use of the German panzers that broke the defenses and made ineluctable the defeat.

Since WW2, air superiority is always the winning key of all battles …

The 1940 campaign was the most intense of all the battles that will take place later on the Western Front:

the Germans suffered heavy losses in just 6 weeks - approximately 60,000 killed 111 000 injured and above 1250 planes were destroyed which will be greatly missed by the Luftwaffe during the battle of Britain.

Struggling one against five, the French fighter planes weakened the Luftvaffe (defeating two German planes for one loss). 

Yes, the Germans gave the French a terrible beating. But it took the combined strength of the United States, Great Britain, Soviet Russia, Canada, etc., to beat the Germans.It’s asking rather a great deal of France to match such strength against hers – with an air inferiority of 1 vs 5. ”

The US never faced mor than 15% of the Wehrmacht – 80% were in the East -  when France had to face alone 100% of Hitler's war machine in 1940 – plus 22 Italian divisions in the south.

In fact, the Germans would have walked straight over the British or American armies if any of these places would have been directly adjacent to France.

 

Mon, 09/01/2014 - 09:17 | 5167123 The_Dude
The_Dude's picture

Ahh...the beneficent French that had been antagonizing their neighbor since the Treaty of Versailles were irrationally attacked by said neighbor...seriously?

Mon, 09/01/2014 - 01:51 | 5166710 TheReplacement
TheReplacement's picture

Ha.  I smell used rifle sale coming up.

Mon, 09/01/2014 - 04:29 | 5166879 ThirdWorldDude
ThirdWorldDude's picture

"FAMAS F1 à vendre. Jamais utilisé, n'a été abandonné une fois."

Mon, 09/01/2014 - 05:01 | 5166896 Analyse2
Analyse2's picture

Again

These Jay Leno's style jokes are a bit tired !

In fact the explosion of this ugly disdain and pitiful jokes come from the firm refusal of the French to join America in Irak, in 2003.

Since France refused to go to Iraq, American warmongers and neo-cons made French army look like cowards – as a punishment.

But History has proved the French were right.

Nevertheless the hate of the american warmongers remains still there, well alive. They have not forgiven the offence, and their stale hate still show through so-called innocent (?) jokes about the “surrender monkeys”.

As for the rest, the French can be proud of their Military History which remains despite these stupid jokes by far the best military record in Europe.

Mon, 09/01/2014 - 07:12 | 5167005 ThirdWorldDude
ThirdWorldDude's picture

"In fact the explosion of this ugly disdain and pitiful jokes come from the firm refusal of the French to join America in Irak, in 2003."

Well in that case the jokes should've mysteriously disappeared in 2011 when Frogs decided to bomb Libya, dontcha think?

"As for the rest, the French can be proud of their Military History which remains despite these stupid jokes by far the best military record in Europe."

 Somehow I get the notion General Kutuzov would disagree.

 

Mon, 09/01/2014 - 07:21 | 5167012 samcontrol
samcontrol's picture

ushhh stop trying to give Americans history lessons, they "Forget" ..

third world dude...
you,re are a hater . and an idiot.
Want to see a painting of Napoleon in the Kremlin?

Sun, 08/31/2014 - 22:01 | 5166308 Atomizer
Atomizer's picture

Brussels better create a EU protester like Operation Wallstreet (OWS). They can create GDP by throwing garbage all over the city and shitting on the bonnet of police car 

Sun, 08/31/2014 - 22:27 | 5166381 Yen Cross
Yen Cross's picture

 France needs to get rid of that" Hollande" asclown.  Effin' Sarkozy was a Prince compared to this idiot!

  France has always had trouble defining it's true origins.

 Are they Sub-Saharan or Anglo?

Mon, 09/01/2014 - 01:18 | 5166671 Nick Jihad
Nick Jihad's picture

Not defending Hollande, but France also needs to recognize that fixing their problems is going to take a little more than just voting for a clever fellow with a brilliant plan.

Mon, 09/01/2014 - 04:01 | 5166862 Ghordius
Ghordius's picture

"Are they Sub-Saharan or Anglo?" LOL. How about... French? Or... Continental?

Mon, 09/01/2014 - 04:36 | 5166883 brucyy
brucyy's picture

Technically , European.

Sort of.

Nah , forget it.

Mon, 09/01/2014 - 04:37 | 5166884 brucyy
brucyy's picture

Technically , European.

Sort of.

Nah , forget it.

Sun, 08/31/2014 - 22:30 | 5166388 e_goldstein
e_goldstein's picture

Just France?

 

Sun, 08/31/2014 - 22:32 | 5166399 ramacers
ramacers's picture

the ceausescu solution, here, france, etc. never fails.

Sun, 08/31/2014 - 22:35 | 5166404 NoWayJose
NoWayJose's picture

Hollande is unpopular because he tried reform and austerity. It's unpopular. The frog goes want to go back to full socialism with the government paying for everything and regulating everything - even if the only way to pay for it is debt!

Mon, 09/01/2014 - 03:09 | 5166791 GoldIsMoney
GoldIsMoney's picture

I'm sorry but suggesting that they tried austerity is beyond any reason. The still have burned money they did not have.

http://www.theguardian.com/world/2013/mar/29/frances-misses-2012-budget-...

 

They were not able to hide the deficit and so there never was any austerity, and the only reform there was, was to drive out those who pay the most taxes out of the country. So Hollande maxed out on stupidity but not austerity.

Sun, 08/31/2014 - 22:59 | 5166439 q99x2
q99x2's picture

Yes yes revolution by all means. Start with the wealthest and work on down the ladder.

That ought to fix things.

Don't forget to replace France's government with open source software.

Sun, 08/31/2014 - 23:03 | 5166445 Atomizer
Atomizer's picture

Eurotrash austerity has become a global, one big ass mistake These filthy bastards are creating war to manage free money. 

http://ec.europa.eu/europe2020/index_en.htm

http://www.leap2020.eu/GEAB-N-86-is-available-Global-systemic-crisis-The...

Fuck you pool boy Barry Hussin Obama, you have a lot of explaining to do. Smack those nigga ass cheeks so Jewlander Newz can get a tingle up his leg.

 

Sun, 08/31/2014 - 23:20 | 5166490 jmaloy5365
jmaloy5365's picture

We do.....

Sun, 08/31/2014 - 23:26 | 5166507 flyonmywall
flyonmywall's picture

Wake me up when there is blood in the streets. Until they sharpen the guillotine blades, it's just talk.

Talk is cheap.

 

Mon, 09/01/2014 - 00:40 | 5166630 taggaroonie
taggaroonie's picture

Have you seen the flag waving change-now demanders that France has?

They nearly all want a bigger state.

Revolutionary.

Molinari and Bastiat have turned in their graves and are slapping their foreheads.

Mon, 09/01/2014 - 00:57 | 5166645 Rootin' for Putin
Rootin' for Putin's picture

Meh, the french have always been revolting.

They have a lot of revolutions too.

Mon, 09/01/2014 - 01:06 | 5166656 Fuku Ben
Fuku Ben's picture

I hear the Americans have some guillotines they can loan them

Mon, 09/01/2014 - 02:25 | 5166750 JoJoJo
JoJoJo's picture

 

French Moslems,benefitting from the economics of French socialism, will not permit a revolutuon - unless its their own ISIS type of revolution.Sorry, Frenchies, you made your bed.  . .

Mon, 09/01/2014 - 02:32 | 5166757 Seb
Seb's picture

"if only because we are quickly approaching the point where things can’t get any worse"

Delusional. There is much more room for "things to get worse". Much more.

Mon, 09/01/2014 - 02:46 | 5166766 juujuuuujj
juujuuuujj's picture

This is the dumbest article I've seen published here. France needs a neoliberal Thatcher movement, really? From a douche at Saxobank, really?? Wipe out a century of worker's rights and create another failed neoliberal dream like Latvia. Really?

France has the strongest and most profitable nuclear energy industry in the world right now, making it energy independent, and it's managed by the state. It has great worker's rights and is STILL in a better fiscal condition and has lower debt that London and Washington. Yet it's the diseased lepers making all the suggestions on how to look beautiful.

Mon, 09/01/2014 - 02:50 | 5166773 yt75
yt75's picture

"making it energy independent"

 

Electricity is not all there is for energy.

France electrical mix is 70% nuclear and 10% hydro or something like that.

But that makes only around 20% (or around 16% depending on way of counting)nuclear for the complete energy needs.

There is also transport (oil) and part of heating (oil and gas).

Mon, 09/01/2014 - 02:58 | 5166778 juujuuuujj
juujuuuujj's picture

France is the only major economy in the EU I don't hear complaining about Russian gas being cut off, which should illustrate my point.

Mon, 09/01/2014 - 03:02 | 5166784 besnook
besnook's picture

a revolution anywhere of any meaningful worth must first include the public execution of a coupla poor slob bankers chosen to take the fall for all the bankers in the respective countries and a return to a commodity/currency based sovereign medium of exchange.

 

you'd think with all the whining the second moorish invasion is winning.

Mon, 09/01/2014 - 03:34 | 5166830 Pinstripe
Pinstripe's picture

Steen Jakobsen: "France must do this and must do that because I demand it"

 

Spoken like a Neofeudal bankster pig.

Mon, 09/01/2014 - 03:57 | 5166856 dojufitz
dojufitz's picture

They could start by selling Chateau Lafite for $10 a bottle.....instead of $10,000!

 

 

Mon, 09/01/2014 - 04:02 | 5166861 john.smith
john.smith's picture

The Thatcher moment made britain into the basket case it is today (an economy based almost solely on a grossly inflated financial industry in London)

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