Monday, April 23, 2012

Elections In France - The Same Story As In The US

The Presidential election in France is looking very much like the Presidential election in the US, only the roles are reversed.   Current Right of Center President Nicolas Sarkozy is being challenged by in experieced Socialist Francois Hollande.   Hollande, like Socialist President Obama, is singing the exact same song; Deficit spending, Stimulus Plan to create jobs, More Regulations on business, Class Warfare, Higher taxes on the "rich", and radical environmentalism.   This very same program is the basis for Obama's failed Presidency; yet Hollande has apparently not learned that lesson.  Of course, France like the US is facing bankruptcy because they too have a National Debt, to support cradle to grave social programs, that are unsustainable. 

Yet, Francois Hollande, like Obama, wants to spend even more.   The fact that there are riots in the streets of Greece does not seem to impact Hollande as he continues to push for France to increase government spending and debt.   Nicolas Sarkozy is the Mitt Romney in this story; a center right politician trying to get spending under control to prevent the bankruptcy of their nation.  In the next few weeks, these two candidates will face each other in the final round of their elections.  Hollande, the Socialist, is favored because the French do not want to give up all their "free" government services, short work week, long vacations and early retirements.  These are all the things that make France uncompetitive in a global market.

If Francois Hollande wins, it will be the first time a Socialist has been elected to the Presidency of France in 17 years because Socialist Schemes have never led to prosperity in France.  But, the French apparently have short memories.  More important, it will spell big trouble for Europe.   The Dutch government just fell because it refuses to accept austerity to deal with its National Debt.   Spain is officially in Recession.  The Germans that are bankrolling many of these European countries are insisting on austerity, rather than more deficit spending; their model which over the years has made them an economic power house.  The German people do not want to pay for all the social programs in these other countries and rightfully so. 

If Francois Hollande is elected in France, there is a pretty good chance that France's credit rating will be downgraded further.  Markets around the world are already responding to this possibility.  This will result in higher cost for France to borrow money to fund government services.   And, this will put France on a collision course with Germany that it cannot withstand.   He who has the gold makes the rules.   The Germans have the gold and they will insist on making the rules.   If elected, Hollande will immediately get a wake up call from Angela Merkel, Germany's Prime Minister, who is supporting Sarkozy as the experienced, grown up in the race. 

There are direct parallels with our situation in the US.   President Obama is a Socialist, the same as Francois Hollande.   That is clear.  Neither Obama nor Hollande have the experience to be President of their countries.  That is also clear.  By the end of Obama's first term in office, he will add about $5 Trillion to US National Debt with no end in sight.  It is this Blogger's contention that Obama intends to cause the bankruptcy of the United States in order to transform our nation into a Socialist country.  Obama is a one world guy.   It clearly does not bother Obama that bankruptcy would threaten our national sovereignty.  Obviously, if Obama was concerned, he would not be insisting on annual trillion dollar deficits to take care of his PEEP's.

Watch what happens in France in the next few weeks.  If Francois Hollande, the Socialist is elected, there will be chaos in France and in Europe.   France and Germany must be on the same page in order for the Euro to survive.   That will not be the case if Francois Hollande is elected.  Hopefully, common sense will prevail in France; but don't count on it.   We will see the same story if Socialist President Obama is reelected.   The United States credit rating has already been downgraded under Obama's watch.  If our current level of National Debt continues, the US too will see a further downgrade of our credit rating.  We have to make Obama a one term President in 2012 to prevent the bankruptcy of the United States.   There is no other way.

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