|'Let them eat cake, eh Barack?'|
Political comparison: Hollande issuing a New Year's Eve statement that promised to lower taxes at the very moment taxes were being hiked is akin to Barack Obama insisting, period, that Americans could keep their doctors and health insurance at the exact moment millions were losing both!
When a socialist politician who lives in the entitled class and who enjoys all of the trappings of wealth and power (i.e. multi-million dollar Hawaii vacations while tens of millions of Americans are living hand to mouth) speaks of understanding the pain of the commoners, check your wallets and assume that it is a lie!
From Mish's Global Economic Trend Analysis:
Vague Promises, Nonsensical Proposal
Hollande offers a "possibility" of lower taxes and labor charges IF businesses expand hiring and negotiate more with unions.
What business would accept that nonsensical proposal? Given the proposal was accompanied by an admission "taxes are too heavy, much too heavy", it's no wonder everyone was offended.
It's also no wonder France is going the opposite of the rest of the eurozone. But the rest of the eurozone is not out of the woods yet. No structural problems have been fixed anywhere.
Read the rest of the article here.