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Monday
Nov122012

French Minister Whines: “Le French Bashing” Is Terrible

The jobs situation in France is turning into a private sector fiasco: temporary jobs, a good gauge for the direction of that fiasco, got whacked again. On the other hand, the public sector—huge, with central government outlays amounting to 56% of GDP—is a source of stability, albeit an expensive one.

Unemployment, which has been getting worse since May 2011, a year before Socialist François Hollande became President, is over 10% and youth unemployment over 25%. In many areas, such as the volatile suburbs north and east of Paris, it’s much worse. Jobs would help calm the waters. But that’s not going to happen anytime soon, apparently.

That gauge for future employment trends, temporary jobs, slumped 4% in September from August, and is down a dizzying 11.6% from September last year. It was spread across just about all industries, in line with the broad-based decline of the private sector [Worse Than The Infamous Lehman September: France’s Private Sector Gets Kicked Off A Cliff].

So it’s not surprising that the French would become disillusioned with their government, but the speed with which it happened is. President François Hollande is in a relentless slide. In November, only 41% of the French saw him favorably, down from 42% in October. That fate is normally reserved for presidents much later in their term; Nicolas Sarkozy was still levitating at 58% six months in his term. Hollande has become “unpopular,” with 53% of the French having turned against him. Prime Minister Jean-Marc Ayrault is on the road to political perdition: only 38% of the French still approve of him.

With approval ratings this low, the government is nervously trying to figure out how to reform the economy, from lowering employment taxes and charges in order to bring down the cost of labor to raising taxes in a myriad ways in order to keep the budget deficit from careening out of control. Even sacred cows are losing their sacredness. The tab for the benefits promised in prior decades is coming due—a nasty surprise in the middle of a debt crisis. It’s a tough time to be a Socialist President.

But what galls the government the most is the media’s focus on these issues, it seems. During a debate at an entrepreneur conference, Economy Minister Pierre Moscovici lashed out: he was troubled to “read in the papers that ‘exile begins, companies are fleeing,’“ he said about an issue that is becoming a fact of life. He lamented the barrage of attacks on the government’s economic policies that are “in vogue in France and abroad.” And he had a special rhetorical flourish: “Le French bashing is terrible.”

He shouldn’t blame the messenger. The government, and that includes him, has simply done a lousy job in “communicating.” It hasn’t even tried to inculcate the media with terms like green shoots that people might be seeing soon everywhere, and hope that people might be feeling, and change that they could believe in.

The playbook has been written. All the government needs to do is translate it into French. A year later, when green shoots has become a term of derision, the government might come up with something else. But at least for a while, as people are fanning out to look for these green shoots, the government would have some breathing room. And Hollande’s ratings might even tick up a bit. Hope is a powerful thing—the opium of the people, so to speak.

A kerfuffle erupted between France and Germany that both are trying to silence to death: it seeped out that the German Finance Minister broached an unprecedented topic with Germany’s Council of Economic Experts. Could they produce a reform concept for the troubled French economy? It revealed what terrorizes the German government. Read.... Germany’s Fear And Desperation.

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Reader Comments (5)

France businessplan has stopped to work a few years ago and they donot have a new one (are basically in denial that they need one as well).
Anyway their stuff looks heavily overpriced and only suported by the believe that there are always bigger idiots running around. However there appear to be that there are not many of those left. Bit of a race to see who holds the hot patato when the rest have left. We will likely soon know. My guess is that the German taxpayer (the one that always has to pay the bill as others willnot play with them otherwise) is the most likley candidate.
November 13, 2012 | Unregistered CommenterRik
The french are complaining? Tell me something new. The french are the most privilegded in the EU, receiving huge agriculture subsidies - now for decades!

How about bashing the Germans!
That would be something new - NOT. Everyone should read the british press, especially telegraph.co.uk, to get a lecture on that. Vicious lying propaganda, constantly bordering on racism. In other words: good old british stile.
November 13, 2012 | Unregistered Commenterwatchingthesuckinngmachine
How do you know that in a city you donot know you are in the right club? The answer is simple: hot girls. They are there it is a cool place, nobody there but only few retards you better move on.

How can we use this phenomenon for economic and political analysis?
I Just to give 2 examples (closer to this subject) from real life.
When could we really see that the power of the Chinese Army was in decline? When the potential Chinese A-list bribes didnot want to come home with a young officer anymore (and their parents also thought that marrying an officer was not a good idea), but with a businessman.
Roughly the same in Burma. When was it clear that the Burmese regime needed change and that shooting occasionally a few countrymen didnot do the job anymore? When the A-list potential bribes looked no longer for aspiring young officers.
So now we have established causality between the women surrounding a regime/government/ruling class or group let us have a look at France.

Therefor it is clear that the (especially visible) quality of the women as well as decline or rise in that quality-level are clear signs how a society looks at it government.
Sarko, some might find him a bit (or a lot) hyper, nearly everybody finds him irritating, my old mother find him a vulgar little man with a need to compensate, however on the issue of women things definitely looked better under him than under Hollande.
As a true analyst we should look at the explanations. I could only come up with that he might be gay. This would however mean the guys should look better, but a) there is absolutely no indication no indication for that and b) the guys look as crap as ever.

Therefor we can conclude that there is clear scientific proof that the Hollande regime is seriously in decline. I personally see it as the clearest short France sign (not the Sarko kind of short that is) we have seen so far.
November 13, 2012 | Unregistered CommenterRik
"government outlays amounting to 56% of GDP", and you say the problem with governments is they are poor at communicating?
November 13, 2012 | Unregistered CommenterMichael
The French right and left both have contempt for markets. Markets are alien, uncontrolled, irresponsible, anglosaxon. The French wish to legislate market sentiment. It can be quite humorous (see: Michel Barnier).
November 25, 2012 | Unregistered CommenterChris Mahoney

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