This is a brief translation of what Claude Imbert, famous journalist with French "Le Point" had to say in his "Et pourtant, it tourne !" editorial a couple of weeks ago : 1 - The US is busy fighting the "axis of evil", and is ready to fight the whole world in order to complete its mission, in what is regarded as another form of nazism. 2 - The US forms a strategic alliance with Russia to confront the rising Chinese monster. 3 - Europe should get united headed by the old French-German couple. 4 - England and Italy should stop sticking to the US and unite with the rest of Europe because only that unity could give Europe its well deserved international power. 5 - France with its historical ties with the Islamic world (especially in North Africa) could succeed in what the US has failed to achieve : Deal with the Islamic world, through assisting Islamic reformists. In addition, Marie Bordet, another famous journalist with "Le Point", clearly favored a stronger Euro against the Dollar long before it happened. She sounded pretty organized and proud to state her reasons : 1 - Corporate Corruption in the US. 2 - 450 Billion Dollars deficit in the US Balance of payment. 3 - Lack of confidence in American Capitalism. And yet, she was very careful not to declare victory, at least until European countries start showing some healthy GDP numbers, and their markets start heading up. Our bleeding equity markets are only making them happy, especially when european markets are recently diverging in trend. I'm HORRIFIED that if George W Bush remains in power for two more years, that NIGHTMARE will become an inevitable reality
I think the main thing to realize is that the europeans wish they still ruled the world, and many still have fantasies of regaining their former glory. In the words of an american redneck, "it ain't gonna happen".
stay cool Bono And if you think Europe is happy with declining US markets you are WRONG. The main problem in Europe is too much socialism.
1 - The US is busy fighting the "axis of evil", and is ready to fight the whole world in order to complete its mission, in what is regarded as another form of nazism. You gotta love the French! For decades they've leached off the security the US provides and now have the nerve to question the very means by which it provides it. 2 - The US forms a strategic alliance with Russia to confront the rising Chinese monster. Chinese "monster"? Hardly. More what I'd call the Chinese "experiment". With its inexorable shift towards free markets, China one day may well enjoy all the benefits of a free economy, without some of the less desirable aspects of laissez faire capitalism. 3 - Europe should get united headed by the old French-German couple. The old couple that have been at each other's throats for the past, what, few centuries? And for what particular purpose? To satisfy the French need to appear important perhaps? 4 - England and Italy should stop sticking to the US and unite with the rest of Europe because only that unity could give Europe its well deserved international power. International power for what purpose? To oppose the "evil" US? 5 - France with its historical ties with the Islamic world (especially in North Africa) could succeed in what the US has failed to achieve : Deal with the Islamic world, through assisting Islamic reformists. Which historical ties? The decades of French colonialism? Or the fact that Muslims comrpise 10% of the French population? Assisting Islamic reformists via what means? Diplomacy? Short of re-writing explicitly stated rules of the Koran, I don't see how that could possibly work. Especially given the current climate of rising fundamentalism. And isn't it America's aim to replace fundamentalist regimes with moderates also? In addition, Marie Bordet, another famous journalist with "Le Point", clearly favored a stronger Euro against the Dollar long before it happened. She sounded pretty organized and proud to state her reasons : 1 - Corporate Corruption in the US. What a joke! US corporations are light years ahead of their French counterparts in corporate disclosure! 2 - 450 Billion Dollars deficit in the US Balance of payment. No argument there (that I'm aware of). 3 - Lack of confidence in American Capitalism. And what's a better alternative? French Socialism? And yet, she was very careful not to declare victory, at least until European countries start showing some healthy GDP numbers, and their markets start heading up. "Victory", as she (or you) seems define it, is a very narrow, short sighted viewpoint. We are ALL in this together. ALL citizens of EARTH. If we're to leave this world a better place we need CO-OPERATION, not gloating over petty political "victories". Our bleeding equity markets are only making them happy, especially when european markets are recently diverging in trend. I hardly need to address this stupidity...
Let's not panic over the words of a couple of French journalists. This would be like the rest of the world listening to our extremists (Can you imagine Jerry Falwell in France? Or, "pick one" from the left side for our more consertive friends). We are all working towards a global econonomy whether we want to admit it or not. The stronger euro is fine, it would be nice to have more than one currency to feel comfortable with (actually a stabilizing factor, in my opinion). The idea of reuniting old allies for some sort of "evil" plan could only work if the global community allowed it, and as long as we have free trade partners, making money, the trend will continue. I'm hoping we (the U.S.) will focus more on our own internal concerns, get the economy going, and "clean up our act" (which we seem to be doing) regarding our "scandals"...and set a higher example of how business should be run....and by doing so, eliminate some of the negative propaganda (the fodder) being dissemiated by such journalists. Don
Daniel_m, Now I'm happy George W Bush is President of the United States. Obviously, he ain't the most stupid yet. I take it all back
Bono, Don't make me have to put you on ignore. I am more than willing to engage in intelligent discussion - even willing to take personal insults if my remarks are sufficiently inflammatory - but just responding by calling me "stupid" is pretty lame.
daniel, I did not say you're stupid ... your logic is ... or else what got me in there ? I was just translating an article .... daniel, stock markets reflect economies ... don't u know that ? How about discussing why you find this stupid - and hence make it an intellectual discussion - instead of just saying so ? ...
This is an article from a leftist newspaper, and leftist over here is really leftist by US political standards. It just represent the views of the authors, it doesn't reflect much the actual opinions of the Europeans. 1 - The US is busy fighting the "axis of evil", and is ready to fight the whole world in order to complete its mission, in what is regarded as another form of nazism. >typical leftist propaganda 2 - The US forms a strategic alliance with Russia to confront the rising Chinese monster. >Actually, Russia has been planned for integration in the EU since 97. Chirac reelection will speed that and more serious guidelines should be established this week between the French and the Russian. 3 - Europe should get united headed by the old French-German couple. >Right 4 - England and Italy should stop sticking to the US and unite with the rest of Europe because only that unity could give Europe its well deserved international power. >Couple of leftist rantings 5 - France with its historical ties with the Islamic world (especially in North Africa) could succeed in what the US has failed to achieve : Deal with the Islamic world, through assisting Islamic reformists. >Pure bullshit, pure leftist propanga. I'd really like to cmment this, but some guys expressing themselves over the internet on this topic are now in jail, thanks to a commie law. In addition, Marie Bordet, another famous pinko journalist with "Le Point", clearly favored a stronger Euro against the Dollar long before it happened. She sounded pretty organized and proud to state her reasons : 1 - Corporate Corruption in the US. What a joke! US corporations are light years ahead of their French counterparts in corporate disclosure! >Completely false. The accounting is regulated and corporations closely watched by the IRS equivalents. No pro forma accounting. 2 - 450 Billion Dollars deficit in the US Balance of payment. No argument there (that I'm aware of). >Plus the Euro is partly backed by gold, the dollar is purely speculative. 3 - Lack of confidence in American Capitalism. And what's a better alternative? French Socialism? >Capitalism has been so socialized here that it does not work anymore in France. It is nearly impossible to run an individual business. Those who get the profits are not those taking the risks, it simply does not work. Like Don said, the only thing we can be sure about is the raging globalization trend and the necessity for capital markets. So let's just trade them and dont worry about the rest. OHLC