CNN: “U.S. to control up to 36% of Citi”
The United States has become France. Not the Soviet Union. Not the People’s Republic of China. Not Venezuela. But France, in which a corrupt-but-allegedly-technocratic political elite — the Chiracs and the Mitterands — manages giant state-dominated corporations, give out government grants to political parties (Mitterand), awards free rent in swanky Paris apartments to family members and friends (Chirac), and generally treats the state budget as a personal petty cash account.
But at least France has good food and wine. What do we get out of the deal?
No no Tom, not France yet…there are no strikes…NV
Well… it’s probably likely that the rest of the world gets a lot less of our warmaking over the next 50 years than over the previous 50. That’s not horrible at all.
So if the US is poorer because of a messed up economy and lots more political corruption, the rest of the world gets less war making? Maybe they get could get less war making in some other way?
I suspect that the negative impact on U.S. military adventurism will be minimal, and it might actually lead to more of it, because we seem to be headed toward protectionism, and protectionism is strongly correlated with military conflict.
Why do Americans always consider France as a basket case, socialist state? It really is not true.
The strikes are in the state industries, not private companies. The French state did not underwrite the majority of the mortgages (Freddie Mac and Fannie Mae) and has not nationalised its banks.
America subsidises its farmers as much as France, American Congressmen are even more corrupt than in France with the pork that they funnel to their home states and the education bills that contain bridge building plans. The corruption at the highest levels of the American Presidency and Congress over the past fifty years in addition to the non-payment of taxes of the past fifty days do not place America above France.
And we still have better food and wine.
(François Pérol aside.)
You make a strong case!!!
Still, France has a longer history of nationalized banks than the US, which is entering new territory. And with it will come almost certainly much, much greater entanglements of private and state enterprises, and with that strikes and all the rest.
(I do think that the level of personal corruption among the technocratic elite is a bit higher than in the U.S., given the petty corruption of Chirac and Mitterand. The top American politicians are certainly corrupt, in the classical sense of the term; I don’t think that they take money under the table, but they corrupt the Constitution, aggrandize themselves, and bully others.)
The food and wine comparison was never in doubt!
California makes some great wine. And it will still be around long after sharia law shuts down production in Bordeaux.
Otherwise, yeah. What Tom said.
“…and protectionism is strongly correlated with military conflict”.
T. Palmer
“When goods do not cross borders, soldiers will.”
F. Bastiat was
…The historical experience of the epoch of great wars and fascist dictatorships confirms the truth of these words. Protectionism and trade wars were one of causes of the German and Japanese expansion. Besides wars creates the conditions and circumstances for the implementation of various socialistic plans and schemes. Therefore the fears of such well-know thinkers as Bastiat and Tocqueville were approved…And we shouldn’t repeat the errors of our predecessor.
“…and protectionism is strongly correlated with military conflict”.
T. Palmer
“When goods do not cross borders, soldiers will.”
F. Bastiat was
…The historical experience of the epoch of great wars and fascist dictatorships confirms the truth of these words. Protectionism and trade wars were one of causes of the German and Japanese expansion. Besides wars creates the conditions and circumstances for the implementation of various socialistic plans and schemes. Therefore the fears of such well-know thinkers as Bastiat and Tocqueville were approved…And we shouldn’t repeat the errors of our predecessors.
I’m sorry for my previous repeat. I wanted to correct my comment, but I couldn’t, because I didn’t find this option at your blog.
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And I want to add one link. http://www.newsweek.com/id/183663
“In many ways our economy already resembles a European one. As boomers age and spending grows, we will become even more French”.
I think that both article, entitled as “We are all socialists now” and especially this quote are close to your note.
Jon Meacham and Evan Thomas present it as a trend of development. Although they suppose that it’s necessary to get the balance between America and France. But I don’t want and refuse to believe in the execution of their prognosis. I hope that America will become neither France nor the indefinite middle.