SJ_Skyline

http://www.telegraph.co.uk/finance/1...t-farrage.html

It's a bit of a long read but quite insightful, not as sensationalist as the Mail's "London is the 5th largest French city" but a stark look at how Hollande's socialist policies have truly screwed the economy. The wealth creators continue to move abroad to avoid the punitive taxation leaving a burgeoning public sector with nothing to pay for it.

dpb

Depardieu left, but probably not for blighty if he's any sense lol

alcazar

iTrader: (2)

Been back a week from four weeks working over there. Every evening I made my tea and drank an aperitif while watching the topical news programme, 19-20, (it goes out from 1900 to 2000).

And every night was filled with strikes, factory closures, factory relocations abroad, factories downsizing and strikes.

Even the rural French think the country has had it...they expect to be the next Greece, Ireland or Spain, and, with true Gallic pessimism, feel that THEY won't get much sympathy because a) the others have had that, and b) theirs is mostly self-inflicted SINCE the crash

Time will tell.......

tony de wonderful

'Wealth creators'? Where did you even get that phrase? Ayn Rand? What you mean are wealth owners; capital is mobile.

tony de wonderful

Spain has started growing again last I checked and will probably emerge stronger after the austerity and property crisis. Unlike here in the UK they will have had a structural correction, we will be left with sky high property and massive debt; a dysfunctional 'financialised' economy.

SJ_Skyline

Can you cite evidence for your claims or is this just because your sociology tutor said so?

Dingdongler

It just goes to show that Socialism doesn't work. High, punitive and ideologically motivated taxes are generally disliked by most sane people and not just those that are affected by them.

That's why the inheritence tax is disliked even by those that won't be hit by it.

A tax system must be there to ensure a fair society and allow opportunities for all. When it becomes about punishing people it will always be counter productive and fail.

jonc

Hollands's economic policy is a preview of what Milliband wanted for Britain. Thank f*ck his party didn't get elected!

alcazar

iTrader: (2)

I have to agree.

The blame for the problem has been shifted, very craftily, first to the public sector, then to immigrants, and later to the poor and unemployed.

Meanwhile, the banks continue as ever.....

tony de wonderful

What sort of evidence do you want? Our property prices are well known, the debt that fuels them quite obvious logically, the size of our financial sector is no secret. Our houses are so expensive people can't afford them (right to buy, finding for lending, housing benefit).

tony de wonderful

Yeah that is my point in a nut shell. One problem we have is the size of the financial sector, plus the debt mountain it has created, this not only sucks capital out of the real economy, but is a 'cause' of systematic risk. Our 'solution' in the UK and US was to transfer risk onto the taxpayer, a kind of 'never never' solution which failed to tackle the problem per se. Indeed the fall of it might be inevitable if you view it all as a QE funded ponzi scheme.