Told you so: France is totally fucked from raising taxes on the wealthy.

How the hell can you maintain reasonable class distinctions in the face of crap like this?

Next thing ya know they'll be giving their workers all kinds of benefits out of the profits stolen from the rich.

Very well done!

This isn't a good thing for France... It means money is fleeing the private sector and investors are willing to take a small loss to protect against inflation.

sarcastic, you are 100% incorrect.

To wit, investors in French debt are so unafraid of the threat of inflation that they are willing to accept a zero or even negative rate of return. Investors actually are exposing themselves to the threat of inflation down the road but, like I say, they see no threat of inflation so are not too worried about it.

That's the rule.

Foreign countries can only be used as examples of good things when they involve right wing policies. That's been the gentleman's agreement for as long as I can remember. Ireland is an example of a great country when it comes to lowering the business tax rates, but never an example of high wages and unionization. But I think there's a rule someplace that says NOTHING that EVER happens in FRANCE is allowed to be good.

I'd K&R your post if I could.

In fact, everything in France is always soooo bad that Mittens was forced, FORCED I SAY, against his every wish, to pass up his opportunity to serve in Vietnam, in order to go to France as a missionary to help them out.

Do you think it was easy arguing with French existentialists armed with stale baguettes?

And don't even get me STARTED on the anti-American sentiments of The Paris Business Review!

http://www.parisbusinessreview.net/

For a few years now some very smart people such as Nicoole Foss at The Automatic Earth have been predicting deflation as our biggest worry.Quite frankly IMHO I believe Europe and the US are going to be screwed for a few years.at least.Japan has been in a deflationary trap for years.Regardless of one's political persuasion.........buckle up.

Each time....i think it's in my screen...grrrrrrrrrrrrrr

Locking yourself in at LOW rates in anticipation of inflation is, well, stupid.

Inflation causes a price drop in the bonds YOU hold and a corresponding rise in market yields (not your yield). You either sell at a loss or sit tight on your shitty yield.

You have it backward.

Don't make the job creators angry! They might, you know, stop creating jobs, or something!

in order to stop?

Don't make them angry!

really

I you!

(I wish all those massive egos intellects on my IL could express themselves so well...)

making the peonage pay for the follies of their betters.

they keep pulling this crap?

for Manny and for you, too!

austerity

They are screwing up everything!

Evidently borrowers are playing the Br'er Rabbit gambit.

Third-Way Manny you just get smarter and better informed every day, what would we do without you?

Sarkozy or anti-immigrant and anti-trade like Le Pen.

Hollande knows that high and progressive taxes provide for the safety net, health care and corporate regulaton that every citizen deserves.

Fausterity or F*cking Austerity,Beer for the masses.

It's the dreaded Francification of.... France!


Don't let it happen here.

er, as it were.

But you're right of course, sorry for laughing, France must get rid of its Socialist, Commie Government before it begins to look like Iceland! Which, btw, is reported to be in great shape and ready to pay off its IMF debt!! If that were to happen to France? Can you imagine?

Austerity Now! Austerity forever! And if you don't believe me, look at Greece!

And btw - executives in state-owned companies are not job creators.

unless you live somewhere that pays $1 per hour.

Could someone explain why someone would buy bonds that have negative yield? Doesn't that mean that when the bonds mature they are worth less than when they were purchased?

I'm no expert so that is just a guess.

Also, I assume the market is bidding up the bond prices which bids down the yield. In other words, more people chasing after those "safe" investments causes the yield to drop. Traders still make money speculating on the bond prices.

It comes close to retaining its value which is better than the risk of a substantial reduction.

And yes - sheer demand has pushed down the yield to a negative state.

The originator, in this case France , just kept dropping the rate until all they wanted to sell were sold. It just happened that it went negative before the sell out.

It's like comping a high roller in Vegas so that when that person DOES get in a jam and needs lots of money fast, they go to the bank or money lender they know in hopes of a good deal. THEN when the chips are down, the rates go up.

It's a win-win for the banks. People who don't need money pay back their loans quickly so that money can be back in circulation and loaned to others at higher rates to make up for the "loss" of profit. Backing a winner makes your bank look good and even if it's at a slightly negative rate of return.

Tig

the French government stands the best chance of still being when it's over. They'd rather have most of their money back on the other side than loose it all buying bonds from a government that will not survive the catastrophe.

"I told you so" is small comfort, but it 's all we got these days.

The way I see it, this is one level worse than burying your money in the ground because with this, you do not only suffer the loss from inflation but also the hit from negative interest rate. I could think of one reason and that am sure is not it, but some rich folk with very little self control is buying this bond to prevent him from blowing it all buying useless items.

Some stories are feel good, it makes no sense. Could anyone confirm this is not some type of adjustable rate bond (dont think something like that exists but this story is so weird that I wouldn't be surprised if something like this was in the mix) France is selling

Interest rates on deposits are historically low, fees and interest rates on loans from banks are much higher than what they pay depositors, and interest paid to depositors is much less than the real rate of inflation.

Yet people keep their money in bank accounts because, even though the banks are ripping off their depositors, most banks carry FDIC insurance or an equivalent, so there is some protection for people's assets.

Putting assets in government bonds would work the same way.

That's the interest I earned last year on a savings account that had an average of $8000 in it. Completely pathetic. There IS a $5 a month charge, though, to keep the account if you don't maintain minimum balance. Regular checking has a $10 a month charge if you drop below minimum, and has no interest. This bank could be charging me $15 a month. This is Wells Fargo and it's soon to become my previous bank.

Third-Way Manny

You're the best!

.. 3rdWay's Corporate Apologists along any moment to give you a complete tongue lashing for posting something that knocks their crappy, buttkissing ranks into the dirt.

Austerity, code for 1%er disdain for WE the People.

Is too "smart" to let bush tax cuts expire or, dread the thought, raising the taxes on the wealthy. Or, maybe, substitute the word "smart" with "paid for".

They've been helping keep America safe from democracy since 1984.


Thanks once again, Third Way Manny!

Well done.

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.immigration.gouv.fr%2Fspip.php%3Fpage%3Ddossiers_det_imm%26numrubrique%3D286%26numarticle%3D1858&act=url


The reasons and objectives of a new immigration policy professional

France has set a new immigration policy that allows both to control migration flows and to organize legal immigration.

Professional immigration under control must meet the needs of business and be adapted to the carrying capacity of France, given the changes in economic conditions

--------------------------------------------

Some of the work permits available are:

http://www.immigration.gouv.fr/IMG/pdf/immigrationprofessionnelle_etrangers_anglais.pdf

“Skills and Talents" permit

You have a project. The “Skills and Talents” permit,
valid for an initial period of three years and renewable thereafter, allows you to carry out any professional activity of your choice in connection with your project.

~ snip ~

The "Salaried" and “Temporary Worker" permit

Different residence permits can be issued opening up access to specific professions in France.
- The “Salaried” temporary residence permit
- The "Temporary Worker" residence permit
- A permit granted under a bilateral agreement.

The list of professions you can carry out in France can be consulted on: http://www.immigration.gouv.fr

~ snip ~

Medical Examination

Foreign nationals arriving in France as employees must present an endorsed employment contract and obtain a medical certificate from the ANAEM (Agence Nationale de l’Accueil des Étrangers et des Migrations).

~ snip ~

--------------------------------------------

From what I have read about emigration to countries such as Canada and France, it can be a challenge. First and foremost, you need to either have highly sought after skills, or be financially self sufficient. People such as myself really don't stand a chance of getting in.

Definitely for France, study the language, and try to find out what skills are required. Better yet, try to have a job lined up before starting the process. And finally, while they may be somewhat more civilized than us, there are still people who look down on foreign or guest workers, and can cause grief.

If this is what you really wish to do, good luck. Just be prepared for the red tape and delays and lawyers and all the other crap people must go through to change their country.

And a reminder this is a Liberal website.

No sarcasm thingy nessesary.

We're going to miss out on the riots and fires of a good population squeeze.

Third Way Manny is a sage at DU.

They did obscene things to him and returned him to earth as "Third Way Manny." The horror.

In other news:

The French Socialists timidly raise top marginal taxes on the wealthiest to 75%, not even approaching the 91% top marginal rate maintained under Republican American President Dwight David Eisenhower.

President Barack Obama swears that he will allow the top marginal tax rate for the wealthiest Americans to return to a deficit-eroding 39.6%. He doesn't mention Eisenhower. He also doesn't mention that this promise is redeemable only after the election; that the Republicans couldn't possibly take hostages at that time; and if they did take hostages, it's unimaginable that he would cave in to their demands.

Three lefts make a right.

I am filing a discrimination law suit.

Oh...oh, yeah...

nevermind

Just you wait and see.

wonderously.

If the tax cuts end for the bottom 80% or so, we go into another recession.

PS Obama will be unable with the obstructionist congress, to renegotiate the tax cuts for the bottom 80%.

on the way

C'est magnifique!

Vive la socialism!