France slaps $7 billion Euro tax on the Rich, Corporations and Oil

[pcgeek11]

We all know the French are always right ... right?

 

[Atreus21]

A really nice recently immigrated Asian guy I befriended runs this meals on wheels wagon and stops by our shop during breaks and lunch hour. About three years ago he asked me how did Pres. Obama get elected when in fact he was a foreigner from Kenya. Incredulously, I asked him where did he hear that from. He pointed to his portable radio and said "Rush Limpah he say that, and he says Pres. Obama is going to take away everybody's guns. Can he do that? Because I like buy a gun so nobody rob me and take my lunch wagon."

I gave him a look that made him look fearfully confused and I realized at that moment that I was giving him that "you can't be that stupid" look, so I recovered and then realized I was at a loss for words thinking "holy crap, this propaganda shit really works. How do I explain to this guy in a few words that he's being lied to by a guy that sells lies for a living." I backed away and told him I didn't know what he was talking about, thinking it was impossible to convince him otherwise in a minute what he had been conditioned to, listening to crap radio for all those hours/days/months/years.

My wife is Asian. She's a reformed liberal. She now like listening to Rush Limpah.

We have successfully indoctrinated another hapless soul into our deadly cult.

 

[gingermeggs]

Hell?

No it's called "Monaco"

They have planned for this event with offshore bank accounts; the real trouble comes when they all try to get along living there, as they are pathological cheats, thieves, lairs, cucholers and murderers.....

 

[gingermeggs]

We all know the French are always right ... right?

If their debt to GDP is really only 90%, they could give the USA financial advise, absolutely right!

http://www.zerohedge.com/news/total-us-debt-soars-1015-gdp

http://www.usdebtclock.org/


If you want to feel a little better go look at the UK and Japans debt! seems you guys buy each other debt to legitimize your credit status- wonder when and how that all ends?

 

[Darwin333]

Uh, I'm disagreeing. The rich didn't cause the recession. Neither did the poor. You may not realize this, but events like the recession are not reducible to a class war.

I answered you, so answer me. By your reasoning, did the rich also cause 9/11? Does every accident have at it's basis the machinations of the evil rich?

The mistake that you are making is believing that this recession was caused by an "accident".

I won't go as far as saying that a group of people intended to cause a huge recession but they damn sure knew what they were doing and they knew that eventually it would come crashing down. Their hope was that they wouldn't be holding the bad when it did.

 

[PingviN]

Good for France.

 

[Sonikku]

The French are fools. What on Earth are they thinking taxing the struggling oil corporations? Times are so hard for them lately that we wisely stopped liberals from cutting 2 of the 7 billion dollars in tax payer money to repair their equipment for them. Don't you think if they had enough money to do that themselves that they wouldn't need our money? Idiots.

 

[Jhhnn]

Well, you said hoarding money was part of what caused the recession. I'd like you to specify if you know anything about that. If you were rich, how would you "hoard" money?

I'd get liquid & stay that way until things change, until demand provides me with a reason to risk in any investment vehicle beyond cash & govt bonds. I'd do the same wrt corporate entities I can influence or control.

Of course, when wealth is extremely concentrated, like today, not a whole lot of Americans need to do that to prevent demand from picking up, at all. They're essentially demanding "you first" from people who are deleveraging as a matter of necessity, paying off underwater mortgages, paying down debt, or going broke for lack of employment. The only way that demand will increase is either very slowly over time, as deleveraging occurs, or as wealth holders are caused to dis-save either through taxation, inflation, or negative real interest rates in a depressed economy. Increasing the money supply, as the Fed has done, is of limited effectiveness because it just gets soaked up as savings.

Cutting govt spending & raising interest rates simply causes them to save more because of ever decreasing demand, and the act of doing so further starves the economy of liquidity. It's the essence of Depression.

 

[tweaker2]

My wife is Asian. She's a reformed liberal. She now like listening to Rush Limpah.

We have successfully indoctrinated another hapless soul into our deadly cult.

Whatever floats your boat in your moat I quote.

 

[Pr0d1gy]

Guess who's really going to pay for this? Consumers when the prices increase due to higher operating costs.

The rules of Economics no longer apply. In America companies have sent millions of jobs overseas, cutting their operating costs to a fraction of what they were, yet the prices have only gone up and up....along with every CEO's paycheck/pension/etc.

 

[DucatiMonster696]

The rules of Economics no longer apply. In America companies have sent millions of jobs overseas, cutting their operating costs to a fraction of what they were, yet the prices have only gone up and up....along with every CEO's paycheck/pension/etc.

Rules of economics always apply and just because you have businesses reacting to lower cost of operation overseas via outsourcing does not mean that the rules and laws of economics do not apply when in fact the reaction of these businesses are very much in line with economic principals of supply vs demand of wages and competition. Even when government attempts sweep the role of prices in regards to reflecting real world costs of production of goods and services in the market under the rug the rules and laws of economics will always come back and bite them in the butt.

In addition the Fed has and is currently pursuing a policy devaluing the dollar which has caused value of our currency to be eaten by inflation so your second point is pretty much moot in the light of the Fed's monetary policy. Consequently this devaluing of our currency has caused some manufacturing firms to relocate back to the US but they have mostly done so in "Right to Work" states.