France held a presidential election this weekend. It was a democratic election with a higher turnout than U.S. elections. The French did not engage in voter suppression. By all accounts, the election was run fairly and the count was accurate.
A Socialist was elected. A real live Socialist, Mr. Hollande, beat the incumbent Mr. Sarkozy. I initially thought this might create cognitive dissonance among the Tea Party whackjobs who call Obama a socialist, but I don't think so. I doubt if they could locate France on a map and are probably unaware that France even had an election.
The good news is that France may abandon the austerity program pushed by Chancellor Merkel that is driving Europe deeper and deeper into recession. About time.
Spain also reversed course on austerity. In addition the IMF chief called for looser monetary policy to drive European growth. All in all it was a good economic day!
ReplyDeleteBy all accounts when one looks at what is happening in Europe with all those austerity moves we know that its a failed program.
ReplyDeletePres. Obama has made all the right moves.
Just look at our unemployment rates of 8% as opposed to Europe levels of 10% plus.
It is amazing to see that, in a time of crisis, people move to the left. Is it because they don't trust the right during a crisis? I don't know?!!? But probably!
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