|An Uncommitted Socialist|
Guy Sorman writes May 6 from City Journal:
The French have just confirmed their political creativity. In other Western democracies, a presidential election leads to the clear-cut victory of one candidate over another, along with the endorsement of a more or less predictable program. Not so in France. On April 22, the elections’ first round, French voters were free to choose from among ten contenders, including Trotskyists, radical ecologists, and a representative of America’s Lyndon Larouche cult. In the second round, concluded Sunday among the two remaining challengers, voters rejected incumbent president Nicolas Sarkozy in favor of Socialist François Hollande. Now Hollande, the nation’s new president, faces a much less forgiving “electorate”: the financial markets, which will determine whether he can save France from a Greek scenario of default and bankruptcy.
Read more here.
- PAUL SINGER: Developed countries are hopelessly and utterly insolvent
- How TARP Created Trump
- U.S. household incomes slip, poverty rate holds in 2014
- St Louis Fed official: No evidence QE boosted economy
- 2015: Why's the Oil Price Collapsing? Answer: $8+ Trillion Carry Trade
- GUNDLACH: The Consensus Is Wrong — Interest Rates Could Sink To Levels We Haven't Seen In Decades
- Rapid fall in oil prices may portend global recession
- Ruble Rout Accelerates as Russia's Central Bank Stands Aside
- For 90% Of Americans: There Has Been No Recovery
- Fed Exit a Blue Pill?
- The dollar's 70-year dominance is coming to an end
- Why Piketty's Wealth Data Are Worthless
- Stiglitz: 'Very uncomfortable' with stock levels
- A Recovery Stymied by Redistribution
- Behind the Productivity Plunge: Fewer Startups