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French Economy In "Dire Straits", "Worse Than Anyone Can Imagine", Leaked NSA Cable Reveals
Earlier today Wikileaks released a new batch of NSA intercepts among which one in particular stands out: an intercepted communication which reveals that then French Finance Minister Pierre Moscovici believes the French economic situation was far worse, as of mid-2012, than perceived.
Specifically, Moscovici who served as French finance minister until 2014 and then became European commissioner for Economic and Financial Affairs, Taxation and Customs, used some very colorful language, i.e., the French economic situation was "worse than anyone [could] imagine and drastic measures [would] have to be taken in the next two years”.
Needless to say, no drastic measures were taken. In fact, no measures at all were taken because thanks to the ECB's "whatever it takes" 2012 intervention and subsequent QE, pushed French yields to record low levels making the need for any reform moot (a la Greece, until the whole circus exploded).
He remarks about that the situation with the automotive industry was more critical than a pre-retirement unemployment supplement known as AER, which he also thought wouldn't have had a severe impact on elections (while senator Bourquin thought would have driven voters to right-wing National Front).
Moscovici's conclusion was that "the situation is dire" although the finance minister ignored warnings that without a "pre-retirement unemployment supplement known as the AER... the ruling Socialist Party will have a rough time in the industrial basin of the country, with voters turning to the rightwing National Front."
Moscovici disagreed. Fast forward 3 years, and not only did French unemployment just hit an all time high confirming that the economic situation has indeed never been more dire...
... but the frontrunner for the next French president is none other than National Front's Marine Le Pen, who will no doubt seize this memo as further proof of the terrible economic state of the country and leverage it even more to her benefit, and add even more fuel to the Frexit fire. As a reminder, Le Pen now prefers to be called Madame Frexit because as she warned last week, when she becomes president, unless the Eurozone yields to her demands, France will be the next country out of the monetary project effectively ending the Eurozone. For more read "Forget Grexit, "Madame Frexit" Says France Is Next: French Presidential Frontrunner Wants Out Of "Failed" Euro."
Here is the intercept (link):
French Finance Minister Says Economy in Dire Straits, Predicts Two Atrocious Years Ahead (TS//SI//NF) (TS//SI//NF) The French economic situation is worse than anyone can imagine and drastic measures will have to be taken in the next 2 years, according to Finance, Economy, and Trade Minister Pierre Moscovici.
On 19 July, Moscovici, under pressure to reestablish a preretirement unemployment supplement known as the AER, warned that the situation is dire. Upon learning that there are no funds available for the AER, French Senator Martial Bourquin warned Moscovici that without the AER program the ruling Socialist Party will have a rough time in the industrial basin of the country, with voters turning to the rightwing National Front. Moscovici disagreed, asserting that the inability to reinstitute the AER will have no impact in electoral terms, besides, the situation with faltering automaker PSA Peugeot Citroen is more important than the AER.
(COMMENT: PSA has announced plans to close assembly plants and lay off some 8,000 workers.)
Moscovici warned that the 2013 budget is not going to be a "good news budget," with the government needing to find at least an additional 33 billion euros ($39.9 billion). Nor will 2014 be a good year. Bourquin persisted, warning that the Socialist Party will find itself in a situation similar to that of Socialist former Spanish President Zapatero, who was widely criticized for his handling of his country's debt situation. Moscovici countered that it was not Zapatero whose behavior the French government would emulate, but rather Social Democrat former German Chancellor Gerhard Schroeder.
(COMMENT: Schroeder, chancellor from 1998 to 2005, was widely credited with helping to restore German competitiveness. He favored shifting from pure austerity measures to measures that encourage economic growth and advocated a common EU financial policy.)
Unconventional
French diplomatic
And the pdf
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Let's get the party started, bitchez!
DOW 360,000
Wait! Portugal gets to be next, not France. France has to wait til after Spain and Italy, too.
without lies humanity would perish of despair and boredom http://www.philiacband.com/propaganda.html
"I'm coming up so lets get this Ponzi started"
https://www.youtube.com/watch?v=Hg-_uxD3H80
Terence McKenna on “The Managers of Society” From a lecture called “Appreciating the Imagination”
(Magic mushrooms permissible, not compulsory)
But the truth is they don’t give a shit, they are so confident of their control that I think if I appear on their screen at all they just said “This is some egg-head, some spouting character that talks to a bunch of rich people in small rooms, and we don’t care.” I have a feeling there’s something which I call the 5 percent rule, which is, as long as any school of dissent remains below 5 percent of the population, no money is budgeted to destroy it. They have learned about noise in the social circuitry and they just say “Yeah, these people, they gripe” And we are held up as an example of what a free society this is. They say, “You think we have a controlled society? You think we care what people say?Go down to Essalen and hear what Terence McKenna is saying. We tolerate this! What clearer proof that you need that we are magnanimous, generous, open-hearted and liberal. We tolerate this kind of thing.”
I think of course that they do not understand the nature of the game, but it’s a good thing because if the game is played on their terms, we lose. What they don’t understand is the power of memes, and the fact that psychedelics are a touch-stone of creativity, and creativity can always provide break-outs from any situation no matter how confined. And also, they have a horrifying fascination with us, because they as the managers of society, probably know more about it’s internal contradictions and its failings and its shortcomings than we do. The information we have available is the declassified, downloaded, cleaned-up stuff.
Recently, I was in London and at the hotel the conference was down at the ICA, which is down near Buckingham Palace so the hotel was on Vincent’s Square. So it was about a 20 minute walk from Vincent’s square to the ICA and it was right through Whitehall-- it was where all the intelligence agencies, and the ministries of defense and all this are. We stayed late at the ICA, and walking back at 2 in the morning, the lights in the Whitehall are burning-- at 2 in the morning! The lights at the ministry of defense and the ministry of economic planning are on at 2 in the morning, why? Because people are sweating blood in those buildings, they are working around the clock to keep the entire system [from shattering into a million pieces]…
They say, “Look at these rainforest clearing statistics, look at these oil slicks! This is costing us money gentlemen.” And what about this?And the answer is that you can manage some of the future some of the time, and you can manage all of the future some of the time, but you can’t manage all of the future all of the time. It keeps breaking loose in the most unexpected fashion.
The internet is a perfect example. Here was a privileged instrument of the intelligence community and the scientific elite that served it. Ultra-high security, totally out of the reach of the common man. Meanwhile, over at Raytheon they’re trying to-- this was years ago-- they were trying to develop a chip to guide a heat-seeking missile for the Navy, and they had certain design specifications that had to be met. The project ground on for a couple of years and they couldn’t make this chip meet the specifications, finally the project was canceled. The chip is thrown in the trash. Then some engineer digs it out and he says, “You know what we could do with this? We can’t hit a plane in flight with a missile with this thing, but you know what we can do with it? We can make a little desktop computer with this!” And these guys [colleagues] said “Why in the hell would we want to do that? We have enormous computers, we have computers the size of a city block, why would we want to do that?” And he said “No, no, not for us, we have the God-like technology, it’s a commercial thing! We can sell it to the Marks, and they can word-process with it or something!” and so it came to be. And they didn’t understand with this thing-- it’s a pretty harmless thing, a computer sitting on a desktop with word running on it-- but you sell 20 million of them, before you realize, “My god they can all be connected together!” And then people just plug them in, and an entirely new beast springs into being. A technology so powerful that the head of the CIA 10 years ago didn’t have that kind of access to information, that kind of information to real-time imaging, that kind of access to econometric data and that sort of thing. So it escaped, while they were watching various…while they were keeping us from nuclear weapons, they seemed to do that rather well. No terrorist has ever set off a thermonuclear device so far as we know, so they were watching from the ramparts for that because it was something they could understand.
This thing came rushing in the back door and now the cat is out of the bag.
I have this creepy feeling that Socialism is starting to run out of other people's money to spend.
That happened a long time ago... hence the economics of "forever zero interest rate" combined with the "debt doesn't matter" philosophy. However, it looks like, in spite of some heroic financial shenanigans, time's up !
I have the really creepy feeling you are deliberatly confusing Socialism and Corporitism.
What's the difference?
Ding ding ding!!!
Fascism is merely national socialism to include the legal fiction of corporations. Corporations are created by government.
Anybody talking about getting corporate money out of politics is just another beneficiary of corporate in money in Politics.
The global house of cards is slowly coming down. But you got to hand it to the powers-that-be. They kept the balls in the air for a long long time.
Plates spinning
Socialism hands the power to the beautiful and wise lovlies. With that power they finance crony capitalists who in turn support the Enlightened Ones, the BAWLs.
It's not a question confusing socialism and crony capitalism. The latter is an aspect of the former. As are the lies, the corruption, and the disdain for popular sovereignty. Crony crapitalists need cheap labor so the socialists, commies, or progressives (take your pick) deliver on open borders and destruction of the historic people who built the country.
This isn't hard at all.
How is it socialism when the political structures and resources of government have been co-opted for the benefit of the corporations and the one percent? It is the emergence of facisim. Don't see the state being operated for the benefit of the people. You don't even understand the words you use. More like when capitalism runs out of the people's assets.
By your logic, it's more like when fascism ROOOPM. You don't understand your own argument.
+1000 THX - ....."What they don’t understand is the power of memes, and the fact that psychedelics are a touch-stone of creativity, and creativity can always provide break-outs from any situation no matter how confined...."
McKenna has BEST spoken word on seeing the Human Experience on Earth .... find plenty more over at matrixmasters.com pyschedelic salon - check the podcasts and download them all- pretty much all of Terence's talks are there! yes there was a short window after Terence McKenna died in the physical form in 2000. He had a cancerous tumor in the brain. Hard to imagine the impact if he hadn't passed on at the young age of 51, IIRC. Bob Wallace, an early Microsoft employee who made enough to retire and focus on funding and building research & wisdom training based on psychedelics. He too, died too young in 2001, IIRC....he was found dead in the bathtub. If you want to go deep state angle with US rock & roll California lifestyle and how it threatened the TPTB check out John Judge's videos on youtube. We live today where we have FREE access to these two valuable researchers to those of us with internet. Jimi Hendrix was intentionally poisoned/OD's - suicided. John Lennon. Don't forget - George Harrison - an intruder into George's home stabbed George in the chest. Barely missed the heart. George Harrison's years were not long after the attempted murder.
Roger Waters has dared to voice opinions as to war and aggression and violence.
USA brothers & sisters, if we allow the big Drug companies to force not only all children and newborns to take their vaccine drugs but ALL ADULTS to play catchup to the entire VAXX schedule - what do you think then? would you call yourself free? Or does the image of Morpheus briefing Neo as to his SLAVE status flare bright in your headlights?
the ONLY winning play is to enable GLOBAL access immediate and at practically free monetary pricing, the diamond tip of the entire class of Entheogenic Psychedelic medicines, the legendary and incomparable K&D the AVATAR 90mg/40mg DMT / Ketamine. Big Pharma has perfected the delivery systems of single use pre-filled sterile IM injectables - the vaccine the prevents Psychopathy & Sociopathy and would enable the current players of psychopathic predators DBA as government *(thanks Honest Anne :)) to be relieved of duties and treated for their condition.
An entire class of medicines has been denied to humanity for far too long now. The transformation could be so much quicker than imaginable to most....a better more beautiful world. Those addicted to power positions would be wise to allow a quick procession of the intelligence enhancing medicines .... these life affirming and healing medicines of the mind body and soul of each human being alive today are there for us should we simply WAKE UP and demand our "birthright" as Terence was fond of saying.
"We care not who prints the fiat currency, for shall the People have Freedom of Choice to consume their want of eat, drink, medicine/drugs without fear of assinine Goobermint Thug Laws, those evil vultures who have heretofore preyed upon the masses by debt instruments of slavery, yea will wither on the vine as amidst the longest drought as their souls decay forevermore"..... maxim of the House of Psychedelics Hendrix Lennon Huxley Hoffmann Shulgin McKenna Leary & the Grateful Dead & the Countless TurnedON
Well if nothing else your comment is certainly psychedelic...
Excellent.
Good thing that they put a 75% tax on high income earners. It's paying off well. And the Sharia law neighborhoods sprouting up everywhere. No economies boom without Sharia law. France, you're doing it right. Good job of having your people of means flee to other countries. Maybe you need a heavily armed border fence to keep people in, reminiscent of East Germany. Fence building jobs!!! Good luck with your Sharia.
Isabella finally threw the Moors out in 1492 from Spain. Looks like they've returned and captured France. So far, Spain has succeeded in repelling the invaders but how long this will last I don't know given how politcally incorrect it is in the EU to safeguard your native people.
The new Charles Martel will be a woman, by latest evidence...
What is amazing is that Puegout is not doing better.. 1067 cars, in one night....
http://www.thelocal.fr/20140102/new-year-sees-1000-cars-burned-across-fr...
Imagine the US with 1067 cars burned in one night.... Martial law the next day and the sheep would baahhhh in approval.. Shit, just gave bamster an idea... Say what yo uwant Frogs are not afraid of burning cars..
Ferguson ? Baltimore ?
As for the cars burned at new year in France, it is mainly a problem of insurance fraud ...
It isn't the French who are doing the burning. It's the "French."
Dup...
Pushing metissage. That's a nice touch. Nothing says you're down with your homies like "Get out there and breed with Arabs and negroes to vindicate 'Republican values.'"
Those bastards would spin cannibalism as vindicating "republican values" if it suited them.
It's part of those horribly constructed derivative chains I mentioned before. In 2010 they glued all the central banks together through one of the smaller german exchanges tied to a swiss twink. Unfortunately France and England(*) had to front the capital to back the options, so they did the most retarded thing possible. They over leveraged their entire pension (both public and private) and insurance industries to the tune of 500% based on the recapitalization of Greece and putting the screws to the other European countries in trouble.
Unfortunately the fatal flaw in the plan is France hasn't been particularily good at managing budgets, ever. And England hasn't had any money since Henry the 8th. Given this information. Guess which country's collateral; pensions and savings accounts were used? Starts with a C ends with an eh?
(* and by proxy the Canadian government also kind of signed on with the shit show, why do people think Carney...a Canuck...is sitting and running the BOE? Take a wild guess how badly designed the shit show is?)
If anyone in Canada, England or France just felt their stomache drop out and got worried. You are 5 years too late. They've already spent it all. It's why all the pension funds in all three countries are announcing horrible shortfalls in the hundreds of billions. They can't hide it anymore with the underlying math of a 110 year ponzi scheme collapsing now that they've spent nearly every penny in the Canadian pension system (both public and private). The Canadian banks however are staying Mum on the situation and avoiding the conversation until they have no choice or a bunch of deals they are working on will fall apart. Until that happens, they are going to pretend that there is money in the RRSP system...until it's obvious what's happened.
Interesting. Got any links??
Check Zerohedge in March 2010. It's when everything moved sideways really quickly. Use google to help speed it up. Sort by date and by reading the headlines you'll see the bigger picture. Or in this case, the unplanned train wreck.
Google this: march 2010 Germany site:zerohedge.com
If you notice at around the same time Morgan Stanley quietly made arrangements with Germany to Secede the EMU - European Monetary Union. The details were never clear but since Germany actually went bust, Morgan Stanley BOUGHT Germany. As in Morgan Stanley OWNS germany. All of it, including the people. Then about a month later Morgan Stanley pushed everyone out of the IMF, then 'new appointments' happened in the IMF when Morgan Stanley pod people took over. If anyone is wondering why the IMF is acting like a bank, when it's a rinky dinky economic policy development agency that's why. Morgan Stanley threw a coup.
that's a pretty huge event CPL - Morgan Stanley "buying" Germany. What are we to make of that? Jim Willie has a lot to say about Germany, and that his insiders say Frankfurt is the future finance hub for the "West". China chooses Frankfurt. Give London some bones to chew. Isolate New York - hopeless. That's change alright.
Is this why, the fed saved the German banks? So that they can own Europe essentilaly?
Is such a notion very far fetched? I mean in terms of historical land ownership?
ZIRP also plays hell with pension funds and pensioners.
HAHAHA
A race to the exit!
No, France must wait that my father and myself pull out our money from French banks before returning to a devalued Franc, thus avoiding to get stolen by 50 % ...
Then after that Frexit.
franc was never 3.25 old-neo-franc...
euro is 6.56 francs...
so a go back is 85% down....at least....
a go back money is not possible, just like drachm... is is te total explosition of europ, results are devastating and over every possiblities nobody will let this happen...
Here comes the Frexit, LOL
Everyone will remain calm, until everybody is bolting for the doors and once they look around and see all this debt stacked to the ceilings and that door starts looking smaller and smaller, good luck.
http://www.bloomberg.com/news/articles/2015-06-23/call-me-mrs-frexit-le-...
We Frexited some folks...
Let's get it started indeed: https://youtu.be/IKqV7DB8Iwg
“The problem with socialism is that you eventually run out of other people's money.” - Margaret ThatcherIt's not Socialism when you spend all of people's pension money on a hare-brained scheme to bail out the banks and blow it all.
Now, if you spent all the banks' money on a hare-brained scheme to put it in people's pockets, then it would be Socialism. So what this is is the opposite of Socialism, which is typically called "Fascism."
I don't have a preference for form of disaster, but I find it hard to converse if we don't call things by their right names.
Exactly right SWMN. Way too many dumfucks sucking up what the PTB are telling them. After all, those politicians aren't liars are they? lol. Thats all they ever do Racer, call things by their opposite name. SO either you're just a dumfuck and can be excused, or a shill. Which is it now?
Fascism isn't the opposite of socialism but the same thing but with the fig leaf of "private" corporations. More coercion than "democratic socialism" but DS gets around to the coercion. Try speaking against immigration or Islam in lunatic Sweden and you're toast.
I can't stop laughing at this post. Well played.
Who let the party, go on?
"Let them eat....or not"
Madame Lafarge?
Given that the National Fronts economic policies are more leftwing than the socialists (tariffs, protectionism and withdrawl from free trade) why do people persist in calling these left wingers right wing?? Right wing is libertarian but the NF is more like the hard left Nazis ( National SOCIALISTS).
you are right, it seems strange to call them right wing. However, if I were French I would have voted for Le Pen long ago, because she wants to leave EU! She wants to nationalize banks! She wants to buy gold! Whats not to like? I wonder why are Western Europeans so terribly stupid. What are they waiting for? To die from hunger?
B-.
Where do you get that the FN is Nazi-(like)?
31 July 2012 data = outdated
<-- France only
<--And the rest of the west
the entire world is insolvent.....
viva la francis_sawyer
A debt which was too large to repay in 2008 is now much more too large to repay.
These markets would hit defcon 5 in a week if the centrals ceased their unprecidented [now "routine"] open market operations.
and everyone knows it.
WikiLeaks. WikiWeasel. All reports vetted by and potentially altered or fabricated by Mossad for the benefit of ZWO. Copyright 2015 ZWO-Mossad.
On the other hand, maybe it was true and too good to change.
It's so simple, even a caveman can understand...
The fire escapes are bolted shut, and the music has stopped.
Now find a chair.
500,000 documents without one mention of Israel...again
http://www.veteranstoday.com/2015/04/17/the-epic-fail-of-wikileaks-and-a...
+++
http://www.veteranstoday.com/2012/10/04/wikilkeaks-adl-and-mossad-blogge...
http://www.veteranstoday.com/2015/06/27/wikiweasel-coverup-as-saudi-cont...
http://www.veteranstoday.com/2011/04/25/gordon-duff-wikiweasel-3-wikilea...
http://www.veteranstoday.com/2010/12/25/gordon-duff-alternative-media-cr...
http://www.veteranstoday.com/2011/01/19/gordon-duff-wikiweasel-iii-israe...
http://www.veteranstoday.com/2014/11/20/pilger-and-assange-theatre-of-th...
If only France pulled a Greece....
"You can't kick us out of the eurozone and we're not paying back our debts"
Well...actually...if all of Western Europe suddenly returns to their national currencies...
If only France Pulled a Greece .... ?
"If"? Spain, Italy, France, Ireland. EU. US. Fish in a Barrell.
Soon, everyone will be asking, "Where can I gt my hands on a banker?"
And I wish the US would return to its natural currency, too!
Interecepted three years ago (2012) and saying next two years (e.g. 2014) will be bad?
Non-news.
Have those years been good? Was France able to kick the can over the net to Greece? Were the Germans worried that France was just too close? Was Russia worried that the Mistrals might be delayed? Was The Ukraine too noisy to ignore? Why didn't France enforce the cease fire in Kiev, like they promised? Quick, look (not here) (over there)--take your pick.
Not at all. Perfect time to overthrow the Ukranian gov't. *wink*
@seek
you are right.
This article is very poor as it exhibits 3 years old data and statements (2012) to suggest things should happen in our future, but 3 year already have passed ...
Le LOL, dette odieuse!
There will soon be a stampede to get out and somebody is gonna fall down and get run over.
Frexit in the making?
The EU has more patients than Greece, in fact, a really sick man is hardly noticed, but may be the next one to exit the EU in a catastrophic collapse... France!
Ayatollah Hollande will have his head for this ;-)
Marie! Marie! Marie! Off with their heads. 1789 redux.
Soon EU will be pronounced ewwww.
Freedom Fries making a big comeback after France shits in the Euro punchbowl?
The US shouldn't be very proud of this freedom fries story ...
And around the clubhouse turn and headed for home, it looks like the financial jockeys for France, China and Japan are whipping their dead horses furiously, but here come Spain and Portugal on the outside...
France, insolvent? And this is a secret?
Bwahahahahahahahahah.........these guys are killin' me....
Maybe raising the tax rate on the rich from 95% to 99% would fix that.
What they need is MOAR Muslim immigrants. Preferably those who need to be put on the dole as soon as they arrive. It's all about warm bodies who will BUY STUFF now. Pay no attention to how they get the $$ to buy the stuff (hint - it's all printed).
http://www.zerohedge.com/news/2015-06-25/american-babies-are-no-longer-mostly-white
The young & talented are voting with their feet; New Mexico's Governor Susana Martinez is all set to declare NM a "sanctuary state" for French ex-pat technical refugees.
http://www.cbn.com/tv/3255110732001
Interesting ... 50% of the wealthy also want to leave China [according to a previous zh article] for slightly different reasons but the root cause is gubmint interference.
It's an interesting 'brain drian' type thing where France and China lose big time some top-talented people.
New Mexico is a shithole contaminated with WIPP and Los Alamos nuclear waste spread across the landscape.
The young, smart French aren't going there, they learned their lessons from Areva.
http://www.krsnam1490.com/CouncilStreamingMP3/wipp%20meeting%204_23_15.mp3
I hope there is a Frexit. I hope the entire EU fails. Fuck the ECB, IMF and the Fed. Globalist fucks.
i could see a france default being worth moar than -14 bps on the usa 10Y
Tomorrow's headline: American Economy In "Dire Straits", "Worse Than Anyone Can Imagine", Leaked ANSSI Cable Reveals
Okay! I just said it again a few days ago. One of the real EU exit risks is France, I said three years ago France was the hidden collapse risk. Now they confirm it? I think they are late, some blogs, like this one, were calling France a paper tiger a long time ago! France is so fucked, they are going to suffer, as their economy grew weaker and weaker, they kept spending big money on the military, they kept taking in Muslims and Africans. Shit, they have over 6 million Muslims! God knows how many Africans, almost all are on the welfare, housing and health care free hand out lists. Social tensions will explode if a deep recession hits the white working people. Plus, government employees are over paid, under worked and there are 3X as many as are needed.
France just got done issuing threats to Russia again, stupid Washington puppets that they are. What has France got to do with threatening Russia on the otehr side of Europe?
Frogs are fucked!
Even in good times they have riots in the muslim ghettos, no-go zones for real French. Talk about a powder-keg.
They all brought the Shia/Sunni shit with them. And the more their living standards decline, the more they embrace the fundamentalist side of their faith - Barbarian Islam. Islam was spread by the sword, not by the power of Love.
It's a lose/lose situation.
Jeez doan breeng a sword to de gunfight.
Sucktoeszy was only yesterday extolling LA metissage as a cure for something. French pols seem to have an infinite capacity for self-abasement. Jesus, what a putz.
Car burning in France is an annual event these days. All they have to do is put few extra items on the menu, starting with bank branches.
The same with IRA in Ireland.
Some call it a "Carbeque," which is evening entertainment in parts of Paris ... every evening.
France need to deal with the Zionist that control everything first to have peace.
Actually France is like Palestine: an occupied country by the Chosennites.
"there are 3X as many as are needed"
No matter how many times I tried I could not get 3 x 0 to equal anything other than ZERO.
what kind of chilling effect was the Total CEO's unfortunate plane crash death in Moscow have in france? perhaps significant, but still many French pro Russia
Strikes me that they could not be sure to divide the people.
But with Immigration and open border they can divide the people, not only in voting, but also in civil war/social unrest/riots/activism/protests.
-
They just need us to fight each other rather than investigate the Federal Politicians/TBTF Banks/Lobbyist/Foundations/Think Tanks/International Organizations/Foreign Exchange Processes/Derivatives & ISDA/Insurance on US Deposits/Security of US Banks/Municipal Debt/Federal Debt/Interest Rates on Fixed Income Investments like for Retired persons or those looking to Retire/Hope for Young People to Retire through Interest Earnings/Fraudulent Financial Ratings/Fraud in Corporations & False Ratings for Municipalities and Counties/Fraud in use in Accounting across all banks, corporations,states,federal agencies,federal reserve incoporated.
"France is so fucked"
I think you do not sufficiently recognize some of the deep rooted, long-term realities of the world system. France is one of the great powers in this world, has been so for the last 300 years, more or less. Yes, they are not doing great, but that is all very relative. Your alarmism is out of touch imho (possibly more akin wishful thinking). Biggest threat to France, historically, has been the German threat. They have solved that rather elegantly, don't you think ?
And about all those Muslims and Africans in France : yes, France is an empire of sorts. (not that I am happy about current form of migration to the EU and EU countries)
I get your points. I mean France is fucked in a fiscal sense. Banks collapse, economy tanks, then the social tensions break out. France is in terrible fiscal shape.
So France is a dying empire. That immigration guarantees it.
BULLISH ! BUY BUY BUY !
NSA is scared. Water to cool the network might go dry.
Drought in Utah? Interesting situation. Of course, non-employees will have to MOVE!
That'll be great for community relations. How mad do Mormons get when pushed off their ancestral land? Palestinian mad?
Nothing france can't solve without letting a few million more muslims in. been to paris lately? looks like yemen
We are all Zimbawbwe
Women and children are up mountains panning for gold in Zimbabwe seeking a few flakes of gold to try survive... its awful
We have it on a plate and an method to get out hands on it for essentially free by telling other what we know so well ourselves
www.teamramgold.com its the easiest bullion you will ever aquire
"The (name ANY country) economy is in Dire Straits and worse than anyone can imagine."
Think of he world as a planeload of parachutists - they've ALL jumped out of the plane with defective parachutes.
Some may go 'SPLAT!' before the others and some may make a bigger mess because they jumped from a higher altitude but they're ALL gonna smack into the ground.
The US may have left the plane at a higher altitude and be one of the last to hit but it'd be foolish to laugh at those hitting the ground before you.... the US is the really fat guy who just had a really big meal..... he's going to make a far bigger mess than a skinny Greece or any of the other ones that hit early on.
Stop it! Dammit! France is NOT Zimbabwe!
Well, not quite yet, anyway.
Seriously guys, how much more of this shit can we take.... rinse and repeat... poor greeks getting the shit kicked out of them,,, them today .. us tomorrow...... its all fiat currency/central bank wet dream spawn,.
Get into the physical Bullion... and the stress levels drop significantly
check out www.teamramgold.com and I'll teach you how to make a system work for you to get bullion at the cheapest price... I can show you how to get the bullion home and in your hand for little over spot price ...
You smell like spam.
#41
The Miracle Meat!
Putin and Berlasconi meet at Siberian retreat over this past weekend. They are friends.
http://siberiantimes.com/other/others/news/n0279-vladimir-putin-enjoys-h...
I wonder if the visit was just social.
In Old School Parlance... In the case of these two, if I told you they "had a gay old time", it means they probably had plenty of fine food, drinks, music and did hot young chicks. It does not mean they did each other.
Oh yeh, Grab the popcorn.
Its collapse central partee time.
Fck the bankers and money changes
Long Putin
Long Gold
Fck this jekyll island fiat mirage and debt slave nwo sh*t scam job.
I think that all of these countries mainly France, Greece, Italy & al should form their own Monetary Union and their currency ougtht to be called the 'exitor'.....worked good the first time, right?
This can only get worse from here...lol (of course)
So glad the brain-dead Brits didn't vote in UKIP or Nigel Farage, who clearly has had it all wrong about the EU.
No telling what damage they'd have done.
a pre-retirement unemployment supplement known as AER,
This pretty much sums up what is wrong with France...a pre retirement subsidy....yeah just give it away..to everyone..no one works..they just smoke and drink coffee....lol,,then surrender
they surrendered to germany when they joined the eu
They surrendered to the tooth falry when they drank the carbonated sugar water.
Ah, the 'ol French surrender jokes !
All this ugly disdain and nasty 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, and that the WMD were only a dirty trick to serve as a pretext.
Nevertheless, the hate of American warmongers against France remains still there, well alive, even in ZH.
This stale hate still shows through "innocent good jokes" about the “surrender monkeys” and their white flags …
As for the rest, the French can be proud of their Military History:
According to the British historian Niall Ferguson, since 387 BC, France has fought 168 major wars against such badasses as the Roman Empire, the British Army and the Turkish forces. Their track record isn't too shabby, either: They've won 109, lost 49 and drawn 10 times.
This makes France the most successful military power in European history - in terms of number of fought and won …
The French have succeeded to conquer and guard the largest country in Europe.
http://en.wikipedia.org/wiki/Military_history_of_France
I am shocked -- shocked, I say -- that someone with Pierre's Moscovici's background and connections would perform so badly on behalf of France.
Check out his bio on Wiki. Hell, his socialist leanings started at home -- given that his father (Serge Moscovici) was a socialist, working in an area I've never heard of before: Political Ecology (started by Eric Wolf in 1935 and given 2nd life by Enzensberger in the 1970s).
Nothing surprises me anymore.
He later changed fields and began working in Socialist Zoology; because all animals are equal, but some more equal than others.
.
Really? A socialist economy that is doing badly? I don't believe it.
1. Note that 'Socialism' -- like 'Capitalism' -- comes in many flavors, all of them having their own unique national character.
2. French Socialism wasn't too bad, as long as France had its North African colonies and access to cheap oil nearby. Over time, as they lost these colonies, and too many Frenchmen sired offspring while 'drilling' in Africa, more and more Africans and their extended families emigrated to France.
3. NO country -- no matter how wealthy -- can endure Uncontrolled Immigration. Especially if the Immigration Rate exceeds the Rate of Assimilation. This issue is going on in France, and all over the EU. Before there were self-serving careerist Apparatchiks in Brussels, each country was able to determine their Immigration policies. Since then however, it's been pretty much an Open Border -- with massive inflows from Africa and the ME.
4. Europe can only survive if the EU is broken up -- either into 2 or 3 regions (e.g. Northern EU and Southern/Mediterranean EU), or into its original countries. The BIG LIE being propagated (via the Jedi Mind Trick), is that "Europe needs more integration", when the opposite is true.
As a person of (Middle) European heritage, my heart goes out to my friends and relative. But as an educated and informed with a healthy common-sense that's relatively unpolluted by modern political and social doctrines, I have to ask: "Are you People in Europe f*cking insane? Or have you simply become even bigger Sheeple than you used to be?"
The answer, of course is, that they are no more "insane" than we are in North America (US and Canada), given the Central Planning socialists and Globalists that we have, and who are destroying our country, as well as our Institutions, Norms, Values, and Culture. These Invasive Species resemble something out of a Sci-Fi Horror flick ("They Live") -- I swear -- until you have your Sunglasses and moment of Revelation.
+ 100 For the "They Live" reference.
Apparently, it amuses the Invasive Species to use white privilege guilt so that we take in hordes of tribbles. The trouble with the modern tribbles is the same as the classic tribbles, except the modern ones are bigger, plus they rob, rape, and kill. They don't purr, either.
Don't miss Jack Vance's "Emphyrio".
All of a sudden fundamentals matter? Can't some central bank slime make these bad things go away? Haven't thay taught us for an entire generation that deficits and debt don't matter?
I have been saying the same thing for about 5 or 6 years
Socialist policy wise France is no better than Greece.
Their one saving grace is a somewhat robust industrial base.
That only buys so much time
It is ironic that a woman is the one who will be saving France
1400s again with Joan of Arc.
Do the French have the fortitude to de-
Muslify and de-Africanize their country?
Do any of us?
Precisely the right question. Yours.
The French have an economy? Who knew.
Sure they do. It is located in the part of France that used to be in Germany.
economy based on fried froglegs™ and parfume, designed in france (made in china)
I used to buy their wine and cheese, but now I can get the same quality wine from Chile and cheese from New Zealand at a much lower price. I can't think of a single French product I have bought in a decade.
@ The Ingenious G... (?)
Are you sure ?
France produces planes (Airbus produces more than Boeing,), and cars (Renault-Nissan group produces more than Ford), and also high-speed trains, nuclear-power plants, rockets (Ariane), and satellites, and chemical and pharmaceutical products (Sanofi), etc …
They also have a decent navy, and have built a nuclear powered aircraft carrier. They make some nice fighter jets (the Rafale is not so bad) and missiles to boot, and are a nuclear weapon military.
And as France is mentioned:
In 2014 France exported 628 Md $ to compare with the US 1610 Md $ (Source Wikipedia). Even if it is less than Germany (1547 Md $), it is more than UK (503 Md $) …
And proportionally to the population (65 million versus 312 million) it is a far better ratio than the US. Where is the flaw ? Do they work ?
https://en.wikipedia.org/wiki/List_of_countries_by_exports
Yes, you're right. One writes these things in a hurry without much thought at times. My comment was dumb in the broader context. I was thinking only of wine, cheese and other food products as I sipped a glass of Chilean wine. Well, maybe it was a bottle.
I used to sell French agricultural equipments. Wonderful quality but the price was always such a hurdle. I used to drink French wine, also wonderful quality, but also pricey relative to same quality Chilean or Australian wines, at least where I am. Same with the cheese.
One of my favourite life experiences was visiting the wine and cheese pavilion at the Salon d'Agricole in Paris.
I would love to see France come out of this sort of extended recession, but I don't know now. When I look at the figures, month after month, it looks so grim.
Ahhh, the wonder of it all! How so many supposed "smart" people can be so dumb is mind-numbing, but then, again, I am not surprised.
The BIS (Bank of International Settlements) have basically come out and said, the central banks have had their safety netting ripped out from underneath them. So, when and "if" (?), the Mother Of All Margin Calls comes screaming down from the heavens like a Blue Heron who has had far too much of a natural laxative and is showering a never-ending stream of poo.....maybe, just maybe, people might wipe the stinking residue from their eyes and utter, "This liberal socialism is not a good thing. Time to put it in a wooden ship and push it off into the brime and fill with flaming arrows and sink it once and for all.
Do I wax, too, poetic? Well, I have to or every other word would be profanity..... Everybody and every country deserves what they get for NOT using the word, "NO!" Example; What happens to your kids if all you do is say, "Yes" to everything they do? They turn into blobs of clinical insanity, no?
So, my dear Hedgers, hold the line and get out there and teach people what is truly going on...
http://www.theliberist.com
Just F'n great. Now all we need is a dictator to rise up and arrest the banksters.
That leaves me conflicted...
Well, what if a dictator rises up, kills all the bankers and then drops dead from exhaustion?
36 785
No surprise. Socialism.
Same thing happening in the USA since Obama wanted to emulate Europe.
So France after Greece?
I'm not fond of people who point out smugly that they've been pushing a fact for years but hey i have been very uncomplimentary about France's Economy and Hollande & Sarkozy for years.
The French are more in denial than even the Japanese.
JB, you pointed out about the number of muslims. Thing is if you're a former Imperialist Power( Algeria, Tunisia, West Africa ) you can expect an influx from those countries, many who happen to be muslim. If their Rule was over Scandinavia then the folks would be white , mostly blond Serfs.
Further the French PLAYED a PROMINENT ROLE IN THE REMOVAL OF KHADDAFI( despite him financing Sarkozy's election with 10's of Millions ) IN LYBIA. FUCKING UP THE COUNTRY WITH PEOPLE FLEEING. This country was doing FUCKING WELL before then.
Then these FILTHY CUNTS are in Mali, CAF, Niger and Chad causing UNTOLD CRIMES.
French speaking countries ECOWAS ( using French IMPOSED COMMON CURRENCY ).
Furthermore 90% of the Electricity is from Uranium exploited for the last 60 years from Niger by Areva. As if 70% desertification is not bad enough for this country the TOXIC WASTE has Killed Many.
FUCK FRANCE AND ANY CUNT WHO FEELS SORRY ABOUT THEIR PLIGHT.
To which they would probably answer : "vas te faire enculer connard de redneck...retourne vivre dans ta caravane de plouc et va sauter ta cousine, qui est aussi ta femme."
Not sure this is news:
-
Central government debt, total (% of GDP) for France
2012: 100.85397 Percent of GDP (+ see more)
Annual, Not Seasonally Adjusted, DEBTTLFRA188A,
https://research.stlouisfed.org/fred2/series/DEBTTLFRA188A
Household Debt to GDP for France©
2013: 54.97816 Ratio (+ see more)
Annual, Not Seasonally Adjusted, HDTGPDFRA163N,
https://research.stlouisfed.org/fred2/series/HDTGPDFRA163N
Amount Outstanding of Total Debt Securities for All Issuers, All Maturities, Residence of Issuer in France©
2014:Q4: 4,309.563 Billions of US Dollars (+ see more)
Quarterly, Not Seasonally Adjusted, TDSAMRIAOAIFR,
But
Amount Outstanding of Total Debt Securities for All Issuers, All Maturities, Residence of Issuer in Portugal©
2014:Q4: 317.907 Billions of US Dollars (+ see more)
Quarterly, Not Seasonally Adjusted, TDSAMRIAOAIPT
Amount Outstanding of International Debt Securities for All Issuers, All Maturities, Residence of Issuer in Ireland©
2015:Q1: 749.193 Billions of US Dollars (+ see more)
Quarterly, Not Seasonally Adjusted, IDSAMRIAOIE,
Amount Outstanding of Total Debt Securities for All Issuers, All Maturities, Residence of Issuer in Italy©
2014:Q4: 3,468.824 Billions of US Dollars (+ see more)
Quarterly, Not Seasonally Adjusted, TDSAMRIAOAIIT,
Amount Outstanding of Total Debt Securities for All Issuers, All Maturities, Residence of Issuer in Greece©
2014:Q4: 168.198 Billions of US Dollars (+ see more)
Quarterly, Not Seasonally Adjusted, TDSAMRIAOAIGR,
Amount Outstanding of Total Debt Securities for All Issuers, All Maturities, Residence of Issuer in Spain©
2014:Q4: 2,023.896 Billions of US Dollars (+ see more)
Quarterly, Not Seasonally Adjusted, TDSAMRIAOAIES,
Damn, Italy and Spain are out of control.
Central government debt, total (% of GDP) for Italy
2012: 126.16437 Percent of GDP (+ see more)
Annual, Not Seasonally Adjusted, DEBTTLITA188A,
Central government debt, total (% of GDP) for Spain
2012: 65.91501 Percent of GDP (well if USA is any Judge then Spain is inflating it's GDP)
Annual, Not Seasonally Adjusted, DEBTTLESA188A,
Well, we use FED data as a Thumb-Nail only.
We don't really know what PIIGS debts, GDP, Inflation, Household Debts, Household Savings, Household Pensions/retirements really look like...
If you are a communist in a country where the USA has passed legislation since 1947 to fight communism... I'm thinking the Superpower will fight the government and try to change the elections to Right Wing or Fascist Government like the Greek military Coup of 1966 or whatever.
le france napoleon de muhammad
officially in france there are more jews than in any other eu-CUNTry
careful, them Frenchies know a thing or doux about catapults....and discharging debt.
(monty python cow-pult scene)
https://www.youtube.com/watch?v=JQ8jGqdE2iw
Moscovici was a communist most of his life until he became a "Socialist"...wolf in lamb's clothing sitting at the head of financial affairs of EU!
"Worse than anyone can imagine."
Ha ha ha ha ha. This is Zerohedge. You can't imagine what I can imagine!
I demand my $30 trillion in physical gold bullion before the Frenchies
get anything.