Yippee, other people’s money is flowing!

Posted on May 2, 2022



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Here it is: now that Emmanuel Macron has been successfully re -elected thanks to his great popularity (even his plasticity), most of the problems are gone and everything is better. In fact, it’s more than well, it’s even inflamed and we can already see it in numbers that seem-conveniently-after this electoral stage is pretty feverish.

Thus, according to an initial estimate published this Friday by INSEE, France is showing disrespectful zero growth (yes, 0%) that is lower than its previous forecasts (not yet too insane at 0.3%). For the Institute of National Statistics, this very good result is largely due to the decline in household consumption against the background of inflation that is beginning to notice, while pushing a little the idea that the war in Ukraine will have an impact on production. of France because that’s all. In passing, we could not help but notice timing diabolical of this statistical discovery, a few days after the election and a few days before the important revaluations of the first of May.

But the conclusion could hardly be clearer: despite the indescribable intellectual power of the entire range of government geniuses that has plagued the past twenty -four months, it has not been possible to carry out the recovery of growth in the past. years. we remember – at 7%. Some naughty will remember that this number is even more impressive after the sharp recession in 2020 of 8%…

Moreover, the most teasing would be to note that a 7% growth may not equal the 8% hole observed previously. Clearly, France is far from having caught on and if he has a little professional conscience, Bruno Le Maire, the current man in charge of this historically poor performance, will feed his gonads on the salad; fortunately he was ashamed at such a young age, he had no hesitation in tickling them dullly thinking of his superb extraordinary intelligence with which he had long oppressed the Republic. The ministerial reshuffle may temporarily remove it, even if we are not too optimistic of French policy in this area.

Given the fact, this figure is pretty catastrophic when you study it a bit: INSEE suggests that the result is explained by a known decline in household consumption that includes – and not all in a confusing way, far from it – that there will be some tension small moments over the next few months. In numbers, this decrease is 2.5% for food consumption and 1.6% for energy consumption, which have gradually become unaffordable thanks to good government and European maneuvers, which are wondering if their goal is not necessarily to achieve this exact result.

If so, we can only applaud: green growth is working and at this speed, next winter will be cold in French homes.

Simultaneously with this growth flamboyant lethargic, we will inevitably notice some small, unnecessarily positive signs that will usually require a certain sobriety in terms of spending and major medium and long -term public plans.

Thus, the crossing of short and long rates rarely indicates only a stable good economic health, as well as the current increase in borrowing rates, especially in the French 10-year OAT, and logically, that in real estate rates. .

We can rejoice (quickly) in the loss of aberrant debt in negative amounts while keeping in mind that this means a fairly noticeable increase in the amount of this debt for the French State.

All therefore contributes to wondering if the future is no more rocky than expected for Macron and his great team. And while this trend clearly refers to a busy period that will require strict public finances … the State of France chooses, in complete relaxation, to reopen the doors of the money of others: Therefore, May of the Day is the opportunity to “upgrade” things and things thanks to the efforts of the French, who always work for good politics but do not fill stomachs.

In fact, in an economy where almost everything is planned and decided from above by government authorities that benefit from infused science and a fairly impressive history of success, so it was decided that – especially – the minimum wage was will increase by 34 euros per month. This is more or less a reflection of a finely calculated inflation of 2.65%, and it is clearly nonsense competition, not only because the wage level in question is related to the lowest class most modest in the country. , whose main share of their consumption is founded on housing, food and energy and inflation in these three areas is higher than this rikikis of 2.65%, in essence Hacked calculated to ensure good people. And still in this pure political -style exercise, notice the increase in family allowances, RSA and other social assistance, always in the guise of an inflation relationship that is further reduced by small INSEE calculations on dubious grounds .

Honestly, it’s all a silly bargain: it’s clear that for those who benefit from them, these increases are just handouts bordering on insult.

On the other hand, for the French people who supply them (either through taxes and contributions or through VAT on steep increases in prices), the increase in State costs becomes unbearable, and the pompoms are not on the hook when you remember them. the ones who supply these distributions of free money from others are more or less its recipients, the difference (there is always one) that goes into the myriad chrome pipes of the State administrative apparatus and its countless beneficiaries, more innumerable like some. , to live happily and full stomach, live well hidden.

All this can only lead to an exacerbation of the current explosion of public debts: in France, in one way or another, everyone lives in an unreliable fiction where they live with others and in Dupond and Dupont to Tintin and his moon rocket, and believes that by holding tight to each other, they can avoid a painful fall.

We understand that this system will not last long.

But as there is no politician, no party, no program mentions it … It is harder to fall.


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