Saturday, December 8, 2018

FRANCE FIASCO SPEAKS SOMETHING ELSE CAN YOU HEAR IT PART 1


Government across the world should understand that whimsical policies will not be accepted by the people. The 2008 recession and post that one lesson which has been learned by any generation of any age is that how and where the crisis is happening and which policies are governing the same. Reforms do not need sacrifices. This is the wrong myth developed by the capitalist mind. Many strategies can be developed to create new growth momentum provided complex trade deals and economic ties are cut out. The major concern for the society across the globe is the learning and the message being given post-2008 recession about providing a proper living standard.

You create austerity policies and expect people to suffer. You don’t cut down on expenses and you increase taxes and expect people to accept are now old traditions. People are now more connected and more knowledgeable than what it was in the last 10 or 15 years. Smartphone and technology have changed the landscape of connectivity. I am sitting in India is supporting those who have come up on the street against the France policy of increasing taxes on fuel.

 The world is yet to come out of the 2008 crisis although cooked economic numbers and stock market strength are not the real growth post-2008. Most of the economies are struggling with growth and sustainable growth has become a dream.  Post-2008 Economic policies malice has led to a revolt within the next generation. They are unemployed and unemployment never gives a good standard of living.

The ILO unemployment rate for metropolitan France was 9.1%, unchanged from the second quarter. The youth unemployment rate, which applies to the 15-24 year-olds, also increased to 20.6% from 20.2% in the previous quarter. If one digs further into the economic data of France one will find that the top 20 percent of the population earns nearly five times as much as the bottom 20 percent.

You cut taxes for the rich to make them richer and you tax the poor for paying the gap. France has done the same thing. The recent tax cut policy of France has led to €3.2 billion, or $3.6 billion of less amount of revenue the state received this year. France has a value-added tax of 20 percent on most goods and services. Over this tax, you impose more tax on a particular product or asset which is going to impact the society is bound to face a revolt.

Declining living standards and eroding purchasing power have now turned into a violent revolt. People will not accept whimsical policy burdens impacting the life of the citizens. When easy economic policies and steps can be accepted to safeguard the citizens then why cruel policies are taken into account.

The median monthly income of France is about 1700 euros or $1,930. France is the third biggest economy in Europe after Britain and Germany but its economic growth is very slow. Large numbers of permanent jobs were wiped out, especially in rural and former industrial areas. New jobs numbers which are being cheered by the readers are only temporary or contractual jobs and have nothing permanent in the same. This weak job market leads to more pain for having a healthy family and living standard. The promises by a political party are at risk now. The Britain Referendum speaks enough that any government can be thrown and people will not accept any policy which is detrimental to the citizen’s growth.

The point is clear that economic growth is not above the citizen’s growth. If the society does now grow and delve into more pain in the long term then imbalances and revolt are bound to come. Remember that in the last 10 years many every citizen of every age has gone through mixed phases of life and hence taking them granted for accepting any policy which will impact their life is now a page of history.


In many countries, the tax structure for the wealth is designed in such a way that they only become rich every year whereas the middle class of the society delves into below middle class or poverty line. Society imbalances are now becoming wider and each day its getting widening that now it’s going to beyond control of any government.

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