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Monday, May 07, 2012

Economic Education

So France had their election and they got rid of Sarkozy ... and replaced him with a SOCIALIST who has declared that the rich are the enemy ...

They say that the vast majority of the rich are looking at jumping the Themas river and going over to England to avoid the taxes which are about to descend upon them ....

the Euro - that currency that every the claimed would save the economies over there because people wouldn't have to worry about exchanging money - the Euro took a big hit right away ...

"Euro Zone" {the countries which use the Euro} Debt-to-GDP ratio rose to 87.2% IN 2011 - up from 85.3% in 2010 {well that's really not too bad - when its around 100% is when they usually start to panic}

so while this new government over there is looking at "blaming" the rich for all the troubles that government gave them, they have shot themselves in the foot by making the rich poorer!

America really needs to pay attention though - because the policies which they are about to chain the rich over there are very similar to those that the Democrats want to do here to our corporations and top 5% {I know they say 1%, but who are they kidding}

France has the second largest economy that uses the Euro - so as they run up their debt the lower the value of the Euro .... they will take all the other nations with it as well

France has an unemployment rate of 10% {they figure theirs slightly differently, we would be above that} - a 13 year high rate

France recently had a downgrade of their S&P rating (used to be AAA) because of the debt problem .... now they are going to add to it - they have been stuck in the big government spending/big debt cycle for over an entire generation (20 years) ...

the US has added $5.5 trillion in the last 3 1/2 yrs with slow growth ... now they are talking taxing our way out and spending even more - the USA is in danger of going down the same path as France & Greece

France, Germany, Italy, and Spain account for over 75% of the Euro Zones GDP ...

there is a prediction of a drop in the stock market today on the news of the new socialist government ... I think they will find many larger businesses looking to flee - but where will they go? after all most of Europe has gone socialist whether they say they are or not ... they won't come to the USA because we are corporation unfriendly ... they won't go to Greece ...

oh that is another post, about Greece!

France will bear watching - and Germany as well - as Europe becomes more hostile to those which have worked for it and those that want to work as little as possible.

sorry - its the way I perceive it.

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