'They get one hour for breaks and lunch, talk for three hours and work for three. I told the French union workers this to their faces. They told me that's the French way!’
-Maurice Taylor, CEO Titan International
Socialism is a losing policy as it stops economies from growing. It also makes people lazy. The (2013) front cover of Le Point magazine translated to English reads in part, “Are the French Lazy?”
Yesterday, French President François Hollande dissolved his government as the nation continues to fall apart. This is the natural consequence of socialism- running out of other people’s money. How can the people of France ever get their economy to thrive when they work (by far) the least amount of hours of any industrialized nation?
In addition, government spending, as percentage of GDP, is out of control, pushing out private sector funds and resulting in a sense of entitlement.
This week, François Hollande came under fire from his finance minister for not spending enough money, rather than engaging in austerity. Yesterday, a new minister was announced, Emmanuel Macron, 36 years-old; not even old enough to remember the last budget surplus of 1974. In 2008, the Organization for Economic Co-Operation and Development (OECD) ranked France as the fifth largest economy, however, in six years; the country will be on the cusp of slipping out of the top ten based on purchasing power parity.
|Richest Nations in 2020||GDP|
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for November 26th, 2014 | John Ransom