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Paracelse

Bye Bye Euro

51 posts in this topic

France has a new pres who wants to tax "rich" people 75 %. Does he seriously thinks it's possible? And who is gonna benefit from it?

Europe was plunged into fresh economic chaos last night as France rejected austerity and elected a tax-and-spend socialist president.

Nicolas Sarkozy suffered a humiliating defeat at the hands of Francois Hollande, who ran on a platform of tearing up last December’s controversial deal to save the euro from oblivion.

The inexperienced Mr Hollande is now seeking talks with the European Central Bank and German Chancellor Angela Merkel to demand further borrowing to boost growth.

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Well, he seemed to achieve something that no UK Prime Mininster has done since 1931, and got more than 50% of the votes, so perhaps this is that rare thing, an actual and genuinely democratic choice .. Also, perhaps, the People are finally beginning to no longer believe that anything is a price worth paying to Save the Euro.

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Posted (edited)

Well, he seemed to achieve something that no UK Prime Mininster has done since 1931, and got more than 50% of the votes, so perhaps this is that rare thing, an actual and genuinely democratic choice .. Also, perhaps, the People are finally beginning to no longer believe that anything is a price worth paying to Save the Euro.

As far as the election goes 51.8 % of the voters elected NL, a dude without the clout nor the education to be a pres. His election is an open door to the extreme right wing of neo-nazi persuation which might be visible very soon at the next legislative elections in June. Furthermore, a change to the Fr'ench francs would only benefits the bank not the consumers. But of course that might go way above the head of those who voted for the socialist dude. I'm just an observer as I do not have the right to vote in France.

Question: wasn't the last socialist elect in UK Chamberlain, of WW2 Infamous notoriety????

Edited by Paracelse

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As far as the election goes 51.8 % of the voters elected NL, a dude without the clout nor the education to be a pres. His election is an open door to the extreme right wing of neo-nazi persuation which might be visible very soon at the next legislative elections in June. Furthermore, a change to the Fr'ench francs would only benefits the bank not the consumers. But of course that might go way above the head of those who voted for the socialist dude. I'm just an observer as I do not have the right to vote in France.

Question: wasn't the last socialist elect in UK Chamberlain, of WW2 Infamous notoriety????

Neville Chamberlain was a Conservative. His policy of appeasement, whatever else it may or may not have achieved, at the very least delayed the war by about 18 months, a crucial time in which the UK was able to massively build up its virtually non-existent air force, which later saved Britain in 1940.

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As far as the election goes 51.8 % of the voters elected NL, a dude without the clout nor the education to be a pres. His election is an open door to the extreme right wing of neo-nazi persuation which might be visible very soon at the next legislative elections in June. Furthermore, a change to the Fr'ench francs would only benefits the bank not the consumers. But of course that might go way above the head of those who voted for the socialist dude. I'm just an observer as I do not have the right to vote in France.

Question: wasn't the last socialist elect in UK Chamberlain, of WW2 Infamous notoriety????

Chamberlain Socialist? he was a Tory. I think (tony Blair doesn't count) the last Labour PM was Jim Callaghan in the 70s.

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Sorry about the Chamberlain thingy didn't think he was a conservative, got confused with the French government. Doesn't change what I say about NL. PS Holland the country is marked NL on cars so now I call the new French pres NL

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Is France going to be friends with us now ?..and stop illegals hitching lifts to G.B..or are we a French Annexe linked by the tunnel.We seem to just fumble along going from crisis to crisis,but at least there was some sense it not having the euro as currency (mickey mouse money).and now we have the Blair witch saying that he would like to be back,and William Hague pretending to be Churchill,what a bloody mess,but who have we to put it right ? Bring back Tommy Cooper ha ha.

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It has to be said. If this 75% tax on amounts above 1 million euros (that's how I heard it told, only for amounts above) then I am pretty sure Fox News will be renaming their favorite fried food "Freedom Fries" again :whistle:

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Posted (edited)

Is France going to be friends with us now ?..and stop illegals hitching lifts to G.B..or are we a French Annexe linked by the tunnel.We seem to just fumble along going from crisis to crisis,but at least there was some sense it not having the euro as currency (mickey mouse money).and now we have the Blair witch saying that he would like to be back,and William Hague pretending to be Churchill,what a bloody mess,but who have we to put it right ? Bring back Tommy Cooper ha ha.

French people can't be friends with anyone otherwise they wouldn't be French :P.... as far as immigration goes it might be a good thing for people on the other side of the chunnel... the illegals will stay in France and get money for free.

It has to be said. If this 75% tax on amounts above 1 million euros (that's how I heard it told, only for amounts above) then I am pretty sure Fox News will be renaming their favorite fried food "Freedom Fries" again :whistle:

Well Fox gnuzz will only say the French are fried :P and yes NL said he will tax people who are making over 1 million euros a year 75% but if he does I'm sure that by the day it's done he will have his own money in the wold of chocolate......Zwizerland

Edited by Paracelse

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The world markets certainly seem a tad upset over the news.

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THERE'S an idea....TAX the SWISS!!!!! They have no army and are pacifists, the lot! :w00t:

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The world markets certainly seem a tad upset over the news.

Euro lost 10 cents between last night and this morning...

THERE'S an idea....TAX the SWISS!!!!! They have no army and are pacifists, the lot! :w00t:

Do you think our worldwide fearless leaders would do that??? They wouldn't have a place to hide their dough :P:whistle:

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bye bye euro, - France is rocking the boat but the newly elected government in Greece might just sink it. whatever happens its not going to end well. problems in Spain and Italy havent gone away.

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Posted (edited)

Well, he seemed to achieve something that no UK Prime Mininster has done since 1931, and got more than 50% of the votes,

That's only because France has got a different electoral system than Britain, not because Hollande is somehow more popular than any recent British PM.

Britain has a simple FPTP electoral system, meaning whichever party gets the most seats in Parliament (and a majority of the seats) wins, no matter what percentage of votes they won. As long as they get enough votes to have the majority of Parliamentary seats then they win.

The French electoral system is different. They have to keep going through different rounds of voting until one candidate gets over 50%. So one candidate ALWAYS gets over 50% of the vote.

So in the first round of voting in this French election, none of the candidates received over 50% of the vote, so the top two of the first round - Sarkozy and Hollande - went to the second round.

This meant that one of the candidates HAD to get over 50% of the votes in the second round, and that was Hollande.

It's interesting to note that in the first round of voting, Hollande got a paltry 28.63% of the votes and Sarkozy got 27.18% of the votes so you could argue that, in this respect, both candidates did worse than any recent British election-winner.

Edited by TheLastLazyGun

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Posted (edited)

bye bye euro, - France is rocking the boat but the newly elected government in Greece might just sink it. whatever happens its not going to end well. problems in Spain and Italy havent gone away.

This is what happen when elected officials give away money they don't have in the first place,

Edited by Paracelse

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Posted (edited)

This is what happen when elected officials give away money they don't have in the first place,

That's why the Labour Government got Britain into so much debt - they spent money we didn't have.

Of course, the only solution to get a country out of debt is to impose austerity measures, not carry on spending as both Hollande and the British Labour Party desire.

As Osborne said, if you are in debt on your credit card the way to get rid of that debt is not to carry on spending more money on it.

I think an election of a Left Wing socialist president is going to be disastrous for France and the Eurozone.

Edited by TheLastLazyGun

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That's why the Labour Government got Britain into so much debt - they spent money we didn't have.

Of course, the only solution to get a country out of debt is to impose austerity measures, not carry on spending as both Hollande and the British Labour Party desire.

As Osborne said, if you are in debt on your credit card the way to get rid of that debt is not to carry on spending more money on it.

I think an election of a Left Wing socialist president is going to be disastrous for France and the Eurozone.

Well said, we've seen what happen to Greece, Spain Portugal.... as I wrote earlier the French are fried and so is EU

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France has a new pres who wants to tax "rich" people 75 %. Does he seriously thinks it's possible? And who is gonna benefit from it?

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Seeing as us Brits have reduced our top rate the rich will flock to the UK

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That's why the Labour Government got Britain into so much debt - they spent money we didn't have.

Of course, the only solution to get a country out of debt is to impose austerity measures, not carry on spending as both Hollande and the British Labour Party desire.

As Osborne said, if you are in debt on your credit card the way to get rid of that debt is not to carry on spending more money on it.

I think an election of a Left Wing socialist president is going to be disastrous for France and the Eurozone.

Actually its an increase in money supply, increase in spending and lower taxes that get you out of a bad recession.

Neither the left or the right have the correct answer because they try to apply a just the left or a just the right plaster to the economy. Quantitive easy is required to reduce inflation right the way down (0-0.5%), the government needs to freeze all public sector wages and reduce the amount of state employees, its needs to privatise as much of the state as possible, the savings in tax payers money should be used to decimate income tax and corporate tax, the government needs to create new businesses with lots of jobs for the unemployed such as building dams, reclaiming land from the sea, building underground systems in major cities.

If all else falls we need to go invade someone and take their gold.

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ho hum... wish I had $1 for every time that was said in the last 10 years and did not happen. But I guess if you keep on saying it long enough it eventually will, latest then when substituted for the Worldo.

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Spend, spend, spend. Doesn't matter if you haven't got it just keep spending.

When I grew up I was taught by my parents and Grandparents getting into debt was bad thing.

Over the last 20 years people seem to have been taught the complete opposite. Nowadays people take out unserviceable mortgages, buy ridiculously expensive motors on credit and spend ruthlessly on credit cards. I suppose as they have no idea about managing their own budgets how can we expect them to see that countries constantly spending more money than they have is actually a bad thing.

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Posted (edited)

Spend, spend, spend. Doesn't matter if you haven't got it just keep spending.

When I grew up I was taught by my parents and Grandparents getting into debt was bad thing.

Over the last 20 years people seem to have been taught the complete opposite. Nowadays people take out unserviceable mortgages, buy ridiculously expensive motors on credit and spend ruthlessly on credit cards. I suppose as they have no idea about managing their own budgets how can we expect them to see that countries constantly spending more money than they have is actually a bad thing.

The problem isnt peoples credit cards.

During recessions the government is supposed to increase the money supply, reduce taxes and increase spending. During a boom the government is supposed to reduce the money supply, raise taxes and reduce spending, The reason for this is an economy oscilates between boom and recession. The measures increase growth or dampen it down to smooth out the oscilations.

The problem is people dont like a reduction in spending during boom periods. They start asking why public spending on things like the NHS is being reduced when the economy is doing well? Politicians want to remain popular so they dont act to cool down the economy. The result is a growth bubble which when it pops leaves us in a bad recession.

Edited by Mr Right Wing

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The point that everyone always forgets is - none of it actually exists. All Economic Systems are purely what some organisation has decided is how the world works, and since that's what they tell the world, the world believes them. The whole point of Credit is that it doesn't exist - it's all hypothetical. (Or, another word for it, Imaginary). The whole system is literally ludicruous; the EU Central Bank generously loans so many Billions to somewhere; out of sheer generosity? No, because the currency system is so creaky that the whole thing might collapse about their ears if that country drags it down; so then that country now owes billions once again (plus a no doubt generous [for the Central Bank] rate of interest) back to the central bank. They're right back to exactly where they were before, in fact worse off, since they now owe more. No one has gained anything, except the Central bank. But everyone just goes along with this, because That's how the World is.

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Something tells me we're gonna have a lot of rich French businessmen moving to London very soon.

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Something tells me we're gonna have a lot of rich French businessmen moving to London very soon.

If you would have said to the Caimans I could agree, but why would they want to jump out of the pan into the fire?

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