It will not come as a surprise to be informed that the French Government is fighting an economic meltdown. The extraordinary aspect of this happens to be, that this has been unofficially disclosed by one of the French Government Ministers, Employment Secretary Michel Sapin. Although his country is not alone as an economic 'nut case'. Many western nations, not least the United States, are in serious trouble. Most countries that pursue socialism are bound to hit the 'buffers'. They always spend far beyond their means, generally with a view to seeking votes from the sector that is perpetually 'on the take'.
France, as any student of economics will know, in the last year, voted in a left wing regime under President Hollande. Even the previous Sarkozy centre right stewardship operated a great throwaway operation. Few, if any, of the European nations have been living prudently for years now. France has been running a deficit for almost forty years. Eventually a brick wall will raise its head, and that will be the end of 'wonderland'. It would appear that many wealthy folk in France are fleeing the nest. Who can blame them? Why should they fund profligate politicians?
Although not in the Eurozone, the United Kingdom does not come out of this smelling of roses. No matter how weak both the euro and the dollar are, sterling is weakening against both these battered currencies. Why? Because we refuse to shake off socialism, partially due to the Liberal element in the Coalition. 0.5% interest rates are only installed to to encourage people to borrow money. What got us into this dire situation? Too much borrowing.
Germany faces the greatest dilemma, possibly due to their lack of understanding when to say enough is enough. They suffered seriously from this in the last year of WWII.
BATTEN DOWN THE HATCHES.
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