Incense? Not really. It amuses us that, even though contadicted by reams of historical evidence, the French think they can still make IT work. France will keep her model, because her people want it.
And we'll continue to watch France commit slow motion suicide
You think you are seeing France commit suicide.
The French think the Americans are in a frenzied debt-driven bubble that will burst and spread around a lot of misery.
France as a whole does not want to embrace that model, and won't. The lack of leverage means that French business and industry grows at a slower rate on the upside. It also means that it does not fall nearly as far on the downside.
Peugeot, Citroen, Renault are not exciting industries rolling up the massive profits like Ford and GM once were. On the other hand, they have not posted the knee-buckling losses or careened towards bankruptcy either. They are boring, profitable industries. A comparison between GM and Peugeot, or between United Airlines and Air France, or between Alcatel and Lucent, gives a good idea of the difference between the French and the American model. The French would not care to swap in any of those sectors.