[USFRIENDINVICTORIA]

"France has unveiled the toughest austerity measures since World War Two despite the looming danger of a double-dip recession, vowing to slash borrowing by €65bn over the next five years in a last-ditch effort to save the country's AAA rating."

See the logical fallacy? Saying "despite ..." is begging the question. It assumes that the proposition (that "stimulus", not "austerity" is the right policy) has already been proven -- when it most certainly has not been proven. Quite the opposite.

This is nothing more than mindless parroting* of ersatz Keynesism. (I say "ersatz", because even Keynes would not be calling for more deficit spending, to "cure" the problem caused by large deficits. The threat of a double-dip recession comes from uncertainty created by the overhanging debt load, which is about to crash down upon us. (* "parroting" was not intended as a slur on you bruinbirdman)

[RetiredArmy]

All the time welcoming more and more and more muslins to invade their nation. They are as stupid as we are on allowing low lifes into the nation.

[Mariner]

bookmark

[familyop]

European ownership of US debt surges 56%: BIS
France 24 ^ | 7/27/2011 | AFP Posted on Wed 27 Jul 2011 12:39:32 AM UTC by bruinbirdman

Excerpt:
"French banks meanwhile also have significant exposure to Italian state debt, holding about 45 percent of the country's public debt, according to BIS data which only includes figures from 24, mostly large economies."

[familyop]

From the same post (link in comment above),...

"Their French counterparts were close behind, lending 31 percent of Greek state debt.

French banks hold 30 percent of Spanish public debt..."