In response to the question: “is France a lagging indicator?”
If you actually read through the French socialist party’s policies you will
see that they were committed to the same form of political suicide as the
rest of the social democrats in the West. More of the same half asssed
Keynesianism peppered with an adoration for an insensitive and overly
bureaucratic elite and then lightly salted with a wink to the environment
and immigrants. All those who argued neoliberalism was a purely Anglo
phenomena must be feeling a little heavier today.
So yes France is a lagging indicator. Interesting that their cousins in
Quebec lurched right a couple of months ago. Now we can all sit back and
watch as ECB opens the spigots full bore and capital starts investing at a
rapid pace. I am sure it will be vindication of Neoliberal policy three years from
now. Problem is, the Anglos may just be well into sewers by then
and we may all get to watch the spectacle of the French and German’s
performing a rearguard defence of neoliberalism. Fortress America versus
Liberal Europe. Get the popcorn.