And how will France get out of its debts? Not through a more productive private sector and a more frugal public one, but in a flood of ever-cheaper currency, courtesy of a pliant ECB. That’s something on which both Mr. Sarkozy and Mr. Hollande firmly agree. Inflation is the windy updraft the falling man often mistakes as a force more powerful than gravity.- Bret Stephens
If you are following Sarkozy, Mr. Hollande and Marine Le Pen in France’s Sunday election, you have become aware of of the electoral menu of quasi-fascism, quasi-Marxism, soft socialism and the bouillabaisse ideology of a failed and desperate country.
The unemployment rate in France is 62.8% and the debt to GDP ratio has risen from 59% a decade ago to 90% this year. It spends more than any other developed country (28.4%) of it’s GDP on welfare payments. Think of innovation? The last thing on France ‘s mind is producing a climate where a Steve Jobs or Mark Zukerberg could flourish.
Will the confused French voters turn out for this election? Possibly not. With too many choices it may simply become a C’est la vie moment.