France’s Hollande seeks 120 billion euro ‘growth pact’

June 18, 2012 by · Leave a Comment
Filed under: Global News 

I love the terminology used these days.    “Growth pact“, it makes you feel very happy and forward looking.   In reality, we have a “debt pact” and more issuing debt to solve a debt problem, that in the end will fail because basic math tells us this.   It is just another tax on the French citizens that they will pay for in higher rates and inflation over time.  Wages are stagnant (compared to real inflation) in most developed nations and have been this ways for decades.

The cost of livings goes up and if it isn’t offset then it is in reality a tax.  The same thing is happening in my country of America as well.   We keep borrowing and issuing debt, this will continue until we mortgage off America or the system crashes and the debt in a large large part is defaulted.   It looks like we will need to learn this lesson the hard way as well.  We continually believe the experts but fail to realize they have vested interested in keeping the status quo,  so they make sure everything we do is considered good and not doing it would be bad.

There is no free lunch, everything has a cost and the longer you put them off, the harder the medicine is when you need to take and the harsher the cure. I hope we wake up soon and start addressing this and get our priorities straight to we can turn over our society to the next generation with a brighter outlook.

Channel News Asia – French President Francois Hollande has proposed a 120 billion euro (US$152 billion) “growth pact” ahead of key talks with eurozone leaders, newspaper Le Journal du Dimanche reported on Sunday.
In a letter sent to fellow European leaders on Thursday, a copy of which the newspaper said it obtained, Hollande proposed a series of measures including a financial transaction tax and investment to boost job creation.

It was sent as Hollande prepares to embark on a series of talks where he aims to shift the focus of eurozone economic policy from austerity to growth, culminating in a European Union summit on June 28-29 in Brussels.

“Measures to effect rapid growth, to the tune of 120 billion euros, should be decided by the European Council as of June,” Hollande wrote in the 11-page document, entitled “A Pact for Growth in Europe.”

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