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ubermenzch
Joined: 09 Jun 2008
Location: bundang, south korea
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 Posted: Sat May 09, 2009 5:24 am Post subject: Is France the Bizarro America? |
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The aggressive style feeds the sense of injustice that has turned Sarkozy into a hate figure for opponents, mainly on the left, among teachers' unions, students and state sector workers. As we've seen here, many hold Sarkozy personally responsible for factory closures, unemployment and other ills.
The case for the prosecution has just been set out in a book-length diatribe by Fran�ois Bayrou, the centrist and would-be president who has become Sarkozy's most effective opponent. In Abus de Pouvoir (Abuse of Power), Bayrou says that Sarkozy has foisted on France an alien regime. He is violating the republic with and "an ideology which had never dared express itself in France unmasked, a model of society based on inequality," writes Bayrou
Eric Fottorino, editor of Le Monde, concluded today that Sarkozy's style rather than substance was his chief handicap -- "a style which has ended up irritating people after stirring curiosity and hope." France now expected action or Sarkozy risked being dismissed for "television Bonapartism in which the show of willpower wins over reality." |
http://timescorrespondents.typepad.com/charles_bremner/2009/05/two-years-into-the-sarkozy-era-.html
weird! something to think about  ! ! !
also on france; i quite like how "the french model" is enjoying its moment in the sun. the economic crisis hasn't hurt them nearly as badly as les anglo-saxons. of course when (..if?) the global recession/ depression gets over and done with, we can all expect france's growth rate to be far below the u.s, great britain, etc. but still, i can't help but wish this moment prolonged, as a proud vindicated france is an amusing thing to behold, even if it is just a little more so than usual. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sat May 09, 2009 6:38 am Post subject: Re: Is France the Bizarro America? |
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| ubermenzch wrote: |
! !
also on france; i quite like how "the french model" is enjoying its moment in the sun. the economic crisis hasn't hurt them nearly as badly as les anglo-saxons. |
They had harder to fall. An 8% unemployment rate - causing great concern in the US - is normal in France. |
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Sleepy in Seoul
Joined: 15 May 2004
Location: Going in ever decreasing circles until I eventually disappear up my own fundament - in NZ
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| Posted: Sat May 09, 2009 7:09 am Post subject: |
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| There is only one 'Bizarro America'. |
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Robot_Teacher
Joined: 18 Feb 2009
Location: Robotting Around the World
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| Posted: Sat May 09, 2009 7:18 am Post subject: |
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| Sleepy in Seoul wrote: |
| There is only one 'Bizarro America'. |
LMAO!!!! Polo rules. |
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ubermenzch
Joined: 09 Jun 2008
Location: bundang, south korea
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| Posted: Sat May 09, 2009 6:08 pm Post subject: Re: Is France the Bizarro America? |
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| mises wrote: |
| ubermenzch wrote: |
! !
also on france; i quite like how "the french model" is enjoying its moment in the sun. the economic crisis hasn't hurt them nearly as badly as les anglo-saxons. |
They had harder to fall. An 8% unemployment rate - causing great concern in the US - is normal in France. |
you're quite right.
here are some interesting facts i picked up from The Economist though.
-the government is set for a deficit of 6.2% in 2009, compared to 13.6% for the US and 9.8% for Britain.
-the french government hasn't had to rescue one bank from collapse, let alone nationalise one.
-the income gap between the top 10% and the bottom 10% is far smaller than in Britain or America.
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France�s big banks may have lost plenty of money, but they have certainly performed better than their British or American peers, and most are still in profit. One reason is tighter regulation. Take the mortgage market. French banks have generally been far more wary about lending to homebuyers. In 2007 French mortgage debt represented only 35% of GDP, according to the European Mortgage Federation, less than in Germany (48%) and way off that in the housing-bubble economies of Britain (86%), Ireland (75%) and Spain (62%). French house prices did rise strongly. But the Bank of France argues that this was as much because of demographic growth, higher real disposable income and limited housing supply as speculative buying.
How far all this is due to regulation is hard to measure precisely. One leading French official reckons the answer is half thanks to a tradition of cautious borrowing, and half thanks to stricter rules. France applies tighter rules on bank capitalisation than international standards dictate. The regulator also recommends that banks should not make loans on which interest payments represent more than a third of the borrower�s income. Banks are under a legal obligation not to push borrowers into more debt than they can manage, and cases are regularly brought to court. So caution is built into the system. |
http://www.economist.com/displayStory.cfm?story_id=13610197
when it comes to economics, i'm pretty dumb. so i guess i don't really have an opinion as to whether 'the french model' has actually been vindicated or not, although i am interested in reading all of your opinions. but after so many years of france being looked down upon as globalizations retarded step-child, i celebrate what seems to me to be the appearance of a vindication. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sat May 09, 2009 8:53 pm Post subject: |
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| when it comes to economics, i'm pretty dumb. |
Don't feel bad about that. It is 90% smoke and mirrors.
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| so i guess i don't really have an opinion as to whether 'the french model' has actually been vindicated or not |
Me neither. Generally, I lean towards classical liberalism with some exceptions (single payer health care, etc). But would I rather be middle class in France or the US - all things equal? How about poor in Canada or poor in France? Rich? Really hard to say. |
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