Skip to comments.France ‘heading back into slump’ (take note, Obama)
Posted on 11/09/2012 8:05:33 AM PST by RoosterRedux
France, the second-biggest economy in the struggling eurozone, is set to tip back into recession by the end of the year, its central bank warned today.
The Bank of France predicts the French economy will shrink by 0.1% in the final quarter of 2012, following a similar decline between July and September, putting the nation back into a technical recession.
President Francois Hollandes government predicts 0.3% growth this year and is counting on a 0.8% advance in 2013, although gloomier forecasts from the European Commission published this week predict France will grow at just half that rate next year.
The latest blow for France came after a bigger-than-expected slide for its industrial sector in September as output fell 2.7% over the month.
(Excerpt) Read more at standard.co.uk ...
“Slump” is what The Won wants.
But only as a prelude to absolute collapse.
Sorry for screaming...but I feel so much better now.
They elected Robespierre
what did they expect?
Would have posted this one but we can't post Bloomberg (even by way of SF Gate, I presume).
Elections have consequences.
“Back into slump” is precisely Obama’s goal.
People need to believe Rush Limbaugh: despite Obama’s rhetoric on election night, the newly re-elected Keynesian HATES this nation. HATES it.
Frank Marshall Davis instilled that hatred into the young Obama, and it has never gone away.
Amazing to me the voters didn’t see it. Public schools have done the job Marx would have liked to accomplish.
The French commies have to raise the income tax on the “rich” to 90% percent. 75% isn’t enough./s
Slump? What slump? You can’t believe your own LYING EYES, you might be a RASSISS, or sumpin!
France is just getting even with all those evil rich people, who have been screwing the workers for YEARS!
-Signed, The Mainstream Media
(Now don’t bug me while I get in to this Limo, prol. I have a White House Party to go to!)
>>>>President Francois Hollandes government predicts 0.3% growth this year and is counting on a 0.8% advance in 2013, although gloomier forecasts from the European Commission published this week predict France will grow at just half that rate next year.
There’s no getting around “Hauser’s Law”: government will always get an X% slice of its country’s GDP wealth-pie. Higher taxes do not change the “X%”; they simply shrink the overall size of the GDP wealth-pie. France will never eliminate its deficits by raising taxes.
>>>>A downbeat survey of manufacturing business managers also warned of declining investment spending next year, and far smaller growth in investment this year than previously estimated. Germany will also see stuttering growth over the winter although the nation should avoid a return to recession.
This is the classic “crowding out” effect: spending by government “crowds out” investment spending by private individuals, which is the source and life-blood of new job creation. It occurs because government spending is always on consumption in the case of France and Germany, a massively bloated “social safety net” redistributing money taken in taxes that COULD have been used by private individuals for investment and new job creation.
They obviously didn’t raise taxes high enough.