Tag Archives: Francois Hollande

Adieu France, So Long Stability

French Socialist President Francois Hollande’s newly elected government is planning to raise taxes on big companies while deterring businesses from engaging in layoffs by making that process more costly.

Hoping to nudge companies into investing rather than paying profits to shareholders, the government plans to impose a new 3% tax on dividends. Other plans include raising levies on capital gains, a special tax on banks and on energy companies, as well as imposition of government policies requiring the sale of profitable businesses in lieu of closure.

France’s Socialist government will dictate that it is illegal for a profitable, privately owned business to close its own doors.

So much for having the French people engaged in business activity. This less business-friendly government is going about the business of smothering France’s economy.

The prospects of trying to do business in France’s new economic environment resulted in margins tumbling, cash flow dwindling and orders collapsing. The uncertain outlook has postponed or cancelled investment and hiring.

Medef President Laurence Parisot told a news conference “The first source of financing for companies’ projects comes from private investors. Increasing tax on dividends runs the risk that private investors either invest less or elsewhere. We’ve had many meetings with the staff in ministries to explain what’s happening, but we are becoming deeply distressed. We fear a systematic strangling. Let’s be careful not to transform our country into a super-rigid enclave completely out of touch with the functioning of market economies as found everywhere else.” Parisot said.

Statistical data from the INSEE agency shows that business confidence fell in June to the lowest level since 2009, when France’s economy first showed signs of emerging from the nation’s worst post-war recession.

Hollande was elected last month after pledging to fight unemployment and revive growth. What he and his government are planning is not the way to go about achieving those goals. Attempting to resolve an economic dilemma that nanny state entitlement spending caused by destroying the tax base through imposition of business strangling regulations and taxes, while increasing the amount of spending done on entitlement programs is like trying to get a drunk sober by giving him a case of champagne. It’s going to have an effect opposite to the one desired. It is only going to make matters worse.

The way to balance a government budget is to stimulate private sector economic growth. That is what creates the tax base required to fund the government. Making it more difficult and more expensive to conduct business in the private sector is counter-productive to balancing any government budget.

By following economic policies similar to those Hollande plans for France, the United States is currently experiencing 1.8% economic growth. At this same point in President Ronald Reagan’s first term in office, his economic policies had stimulated the private sector U.S. economy to a 7.2% growth rate.

Can you say duh?

Both America and France could learn a thing or two from the economic policies of Ronald Reagan. In the case of the current White House occupant, that does not include hollow, unfounded, meaningless claims that you are much like President Reagan. It makes no difference whether those claims are made by you or your eager, obedient lapdogs in the institutionalized “progressive” left’s smear machine, referred to by your dumbed down, ill informed “progressive” congregation as the mainstream media.

France has the second biggest economy in the European Union. If this is the best the French can come up with, it is time to bid adieu to France and to European Union stability.

http://mjfellright.wordpress.com/2012/06/19/adieu-france-so-long-stability/

Fundraise and Fore! obama’s Answer to World Events

Israel issued warnings over security problems with Egypt. Militants from the Sinai Peninsula crossed over into southern Israel Monday and fired on a border security fence, killing one Israeli. The IDF moved tanks and other armed forces to the Israel-Egypt border in response to the attack. Egypt is on the offensive against Israel.

Egypt’s presidential election results lean towards victory for Mohammed Morsi, the radical Islamist Muslim Brotherhood candidate. Thanks at least in part to vocal White House support for the “Arab Spring”, which ushered the Muslim Brotherhood to Egypt’s presidency, Egypt is now likely to be more inclined towards acting offensively towards Israel.

Russia’s General Staff announced Russian Black Sea fleet warships may head for Syria, saying: “The Mediterranean Sea is a zone of the Black Sea Fleet responsibility. Hence, warships may go there in the case it is necessary to protect the Russian logistics base in Tartous, Syria”. Several warships, including large landing ships are ready for deployment. Russia supports Syria, an active agent for radical Ismanists in Iran, who also just happen to support the Muslim Brotherhood in Egypt. Russia exerts new influence in the Middle East while Russia’s President Vladimir Putin plays the White House like a fiddle.

The Euro survived over the weekend after a close call in Greek elections. Early market euphoria on Monday diminished when persistent uncertainty over the situation in Spain, Italy and other eurozone countries resurfaced. Despite Greece’s election result easing fears that the single currency will disintegrate, indications that Greece will run out of money in mid-July stalled initial market optimism. Multiple countries in Europe are now in economic decline after decades of following Socialist policies.

In France, Socialist President Francois Hollande was given a mandate to follow through with his tax-and-spend agenda when France’s Socialists won control of parliament on Sunday. Hollande now has the majority he needs to combat France’s debt crisis by following the very formula that created a debt crisis in France, Greece, Spain, Italy and the rest of the eurozone.

Meanwhile, in an address to the UN sustainability conference in Rio, Great Britain’s Prince Charles issued warnings about climate change. In a pre-recorded speech the Prince declared: “Catastrophic consequences of carrying on with ‘business-as-usual’ are bearing down on us faster than we think, already dragging many millions more people into poverty and dangerously weakening global food, water and energy security for the future”. The Prince then went on to say: “We do not have nearly enough knowledge on which to base the decisions that will be the best for the long term.” So, which is it? Either “we do not have nearly enough knowledge on which to base the decisions that will be the best for the long term” or we know enough to say “many millions more people” have to worry about poverty, food, water and energy security. You can’t have it both ways, “your majesty”.

In America, Al Gore cashed in on the hysteria he and his fellow climate change propagandists created when New York city Comptroller John Liu OK’d a $16.56 million contract with Generation Investment Management, the former vice president’s environmentally friendly investment firm. Generation Investment Management will help manage New York City pension funds to the tune of hundreds of millions of dollars. Given the track record of green energy capital investments, New York City pension funds are going to be another candidate for a taxpayer funded federal bailout. As with any investment management company, Generation Investment Management will earn their fees no matter what happens to the funds they invest. Apparently it pays to be a global warming alarmist. Perhaps Prince Charles fears the British Monarchy faces pending austerity measures and is just trying to get on the global warming gravy train.

Over the past three and a half years while current world events were taking shape, the White House has been spending money it does not have ala Socialist Europe. All the while enacting another big government socialist “entitlement” program to “nudge” Americans towards European style government dependency.

They championed bureaucratic violations of the free exercise of religion, using the presidential bully pulpit and complicit media lapdogs to convince uninformed voters that it was really a Republican attack on women’s healthcare.

Drones and unmanned airplanes began spying on private property in America’s heartland to ensure American Citizens are complicit with stifling new draconian EPA regulations. An EPA that is now attempting to redefine ditches as bodies of water in order to grant itself additional regulatory power.

Exceeding the Oval Office’s Constitutional and statutory authority to give work visas to a hand picked group of illegal aliens was deemed more important than creating a business friendly, jobs creating economic environment for American Citizens and legal immigrants.

This coming from an administration that pledged in 2008 that it would cut the federal deficit in half by the end of its first term. Instead, the size of the federal government, federal spending and the deficit are all at record high levels. The U.S. national debt has increased by over $5 trillion in less than four years, and after surviving WWI, the Great Depression, WWII, the economic disaster that was Jimmy Carter’s presidency and the global financial crash of 2008, the United States of America’s credit rating has been downgraded.

Insinuating his name into the online biographies of former Presidents and releasing a photo-montage of himself in his “private moments” became priorities, as did attending a record number of fund raising events and playing 100 rounds (and counting) of golf. Never mind that David Axelrod, his 2012 re-election campaign chief, called former President George W. Bush “out of touch” for playing golf while the country struggled with a bad economy.

That’s what his deep-pocketed out of touch with reality millionaire and billionaire Hollywood elite friends expect from their “cool” friend in the White House. To be truly “cool”, one must be seen as being above it all.

America and the world will be better off once the current Chief Executive of the United States begins spending his days playing golf full time as a former government employee.

God Save the Queen.

http://mjfellright.wordpress.com/2012/06/18/fundraise-and-fore-obamas-answer-to-world-events/

France goes [even more] Socialist

France’s new President Francois Hollande is a Socialist and his party is set to win the majority in the country’s legislature.

Bloomberg.com is reporting  that Hollande’s coup isn’t complete yet, but will be shortly:

Hollande will have to wait until the June 17 second round to know if he has an absolute majority or will need allies in parliament. In yesterday’s round, the Socialist Party and its Green and Left Front allies took 47.1 percent of the popular vote. Former President Nicolas Sarkozy’s Union for a Popular Movement and its allies got 35.4 percent.

Past Socialist-led French legislatures have made things like the 35-hour work-week a reality despite the leadership of Presidents like Jaque Chirac. Additional socialistic moves could see Frances ability to produce goods and services weakened even further which will make them even less viable in the global economy.

France’s socialism is the cause of their 13 year record joblessness, but due to the greed of a vocal majority, further socialistic reforms will likely occur which will leave the French economy in the hands of foreign governments, the new world order and fate.

France is on a glidepath similar to that of Greece. Shorter work weeks, earlier retirement, government control.. before long, their economy may also mirror the Mediterranean island’s nightmare.