Lesson for Cameron from Sarkozy defeat

[Gromit]

France has rejected a Conservative Austerity Government. A weak economy and rising unemployment just like here has been ditched by the French people. A desperate lurch to court the far right failed miserably.

Many are urging Cameron down the same path. That can only lead to failure. The British Coalition Government has to listen and not resign a generation of young people to long unemployment. The Coalition must go for growth and not let us wallow in a double dip recession.

Can Cameron Survive? Will the Coalition run the full term? Will they learn the lessons from France?

[argorstran]

Le Monde est foutu , pas seulement l'Europe !

[DTCwordfan]

Tout a fait, argorstran, je sui en plein accord.

[DTCwordfan]

suis

[DTCwordfan]

peut-être les pronostics pour la fin du monde cette année sont exacts, certainement dans un esprit économique

[Gromit]

DTCrosswordfan.
I will not pretend to know anything about French Politics. But Hollande was ahead in the polls since January so I was just following the petcieved wisdom. I would not be prepared to bet on English Elections nevermind French ones, luckily for you.

[DaisyNonna]

Is a double dip recession also known as a dead cat bounce? Often wondered. Sounds much more serious. First one sounds like one is restricted to only one scoop of ice cream.

[DTCwordfan]

No response (pas commentaire) from (de) M Béarnaise, notre résident socialiste. Je suis vraiment surpris. Quel dommage.

[DTCwordfan]

we crossed over.....but what is the bet for major economic fall out in the Eurozone this week and M. Cameron's prudence on reducing our exorbitant debt level seen as prudent, before a slow but gradual let-off of the economic acceleration brake.

[Gromit]

The markets will be more concerned about the change in Greece rather than the change in France. The markets will not be spooked by Hollande.

You seem unaware that Cameron is borrowing and spending more that Brown did in his last year. Prudence was claimed by someone else just before a fall.

Cameron will be more pre-occupied by trying to stem a civil war in his own party during the next few weeks.

[DTCwordfan]

wrong there, the markets are on edge, Gromit; there was a major French bond sale last week (@ 3 to 4% viz the UK rate of 2) and it scraped through; the markeit is extremely nervous as (i) the high level of debt to GDP and (ii) that no one has tackled (inc Sarcastic) the long standing legacy of French regional and givernment bureaucracy which dwarfs ours...........

[DTCwordfan]

(excuse the typos! - its working in two languages)

[joggerjayne]

OMG, the Frogs have elected the Trots.

Well, that's the Euro buggered for another five years, then.

[boxtops]

Succintly put, JJ :-)

[DTCwordfan]

thank you for that astute conclusion, JJ, I fear you are right, except that the Euro is sunk within 3 months. I guess there is hope for a Phoenix - and it will underpin the common sense of debt reduction by our own government - combined with our own control of the currency

[seadogg]

Hi Daisy, a dead cat bouce is usually a short term recovery following a falling bear market. A double dip recession happens when the rate of the market's recovery is not sustained and the economy slides back into recession,. In the case of our economy the disposible income of the majority of people is not sufficient to stimulate a demand led recovery, and the people with the brass are not prepared to spend anyway

[DaisyNonna]

Thankyou seadogg. Not that I am much the wiser. Should I hoard or squander?

[jno]

depends how reliable your income is, DaisyNonna. And how much. I'd be inclined to buy up candles as the lamps go out over Europe. (Though actually I'm spend spend spending as usual.)

[seadogg]

Our "duty" is to spend and give the economy some stimulus through what Keynes called the Multiplier. I am afraid that the sensible option may be to keep more in cash in Fixed Term Investments and keep a good spread of stocks and shares.

[DTCwordfan]

the latter in short term holdings in the US, and for less risk, Australian and Far East equities.

[HowardKennitby]

The French have made a choice. Whether there is a lesson we shall have to see.
Personally I am with Zhou Enlai when asked about whether the French revolution was a good idea replied "It is too soon to say."