French President gets inspiration from his Hero: Mitterrand

France, is following the rest of Europe down the slippery slope of demagoguery and knee jerk reactivity governing.

If you've clicked on the above video, you've had a good laugh at the expense of both Electoral Campaigns and particularly at the Media and the pseudo-journalists who still think their personal opinion is actually factual news. If you are still scratching your head about that "New Flash" video Satire, then... there isn't much I can do to light your lantern or help you in any way. So for those of you who are still following, I'll go on with my rant about the new French Government.

Unemployment is at the highest it has been in decades in most European countries, and so is budget deficit. Greece is the more conspicuous case since it already went over the edge of the cliff and is in free fall. Italy is poised at the edge of the abyss looking down and trying not to tip over with Spain about to slam into its back followed by Portugal, Ireland and England.

France is in trouble also and well on its way down the slope behind England. Until last year it was desperately trying to stay put on top of the hill, firmly lashed to the German Oak tree. French President Francois Hollande, however must have been digging in the attic of the Palais de l'Elysee. He probably found his hero's Diary in an old Rosewood Presidential Desk discarded in the 90's. He is a loyal disciple of Mitterand, you'll have to give him that.

He recently announced that he's proposing to raise the Income taxes for the top echelon earners to 75%. Unfortunately he is not a very good student. He's the kind of student who takes action before he finishes reading the entire lesson and therefore misses the whole point of the exercise. He is a slow reader and is probably still reading the pages of the early 80's and has not yet passed 1983. This is the only plausible explanation I can come up with to explain why Hollande purposefully let go of the German Tree trunk keeping him and his country's economy relatively safe on the hill top. Not only that, but besides letting go, he is actually stepping on the Gas.

You see, by the end of 1983, Francois Mitterand did a complete U turn on the most drastic of his measures [i.e: "Carnet de Change" where every citizen leaving the country, for business or pleasure, had to declare how much funds s(he) was taking abroad. There was a quota per trip and a total per year assigned to each person, and that booklet was to be shown upon exit at the ports and airports and again upon re-entry to ensure that the "Flight of Capital" was kept to a minimum]. There were also new taxes instated, and existing ones raised [Wealth tax]. Needless to say there was a backfire of monumental proportions, economically and consequently politically. Tonton Mitterrand had to walk back a majority of these measures illico presto. That's what his disciple, the Current "Francois-in-charge" didn't get. Had he kept reading he would have avoided the whole headache by actually looking at the bigger picture and see what would actually jump-start the economy. Maybe he thinks there is a prize at the bottom of the precipice and wants to be the first one to get it. Well, if that's his goal, then he'll get it alright.

Didn't Einstein say: Folly is trying the same experiment multiple times expecting a different result? I guess, Hollande is not interested in anything German these days.