Mish's Global Economic Trend Analysis |
Posted: 17 Nov 2012 05:13 PM PST Mainstream media offers little on the stunning collapse of real estate sales in France, notably Paris and Ile-de-France. Via Google translate, please consider Real Estate November 2012: figures for the month. Here are a few translate-unedited snips. 2012 will remain a very bad year for real estate professionals. In this comprehensive figures on the property market in November 2012, discover the sharp decline in real estate sales in Paris and Ile-de-France.Blazing Stupidity Hiking the VAT in face of falling demand is blazing stupidity. Apparently a VAT hike is an expectation rather than a done deal, but given other examples of stunning stupidity from France, including tax hikes and the Economically Insane Proposal: "Make Layoffs So Expensive For Companies That It's Not Worth It" one should expect no less from French president Francois Hollande. For more examples of things about to wreck France, please consider "Google Law" Yet Another Warped Policy by Hollande; Government Motors French Style Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
Posted: 17 Nov 2012 09:56 AM PST Today's case of the "pot calling the kettle is black" comes from IMF chief Christine Lagarde in a warning to Brussels nannycrats and the ECB Greek deal should be "rooted in reality" An agreement among Greece's international creditors on reducing its large debt pile should be "rooted in reality and not in wishful thinking," the head of the International Monetary Fund said ahead of a tense meeting with European leaders. Objectives in Conflict The problem for the IMF, Germany, the nannycrats in Brussels, ECB, and Greece is the "objective" of keeping Greece in the eurozone is one of the things destroying Greece. It is wishful thinking that Greece is going to stay in the eurozone. I am all for a large dose of "reality" but the objectives of the Troika and the nannycrats in Brussels does not permit reality. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
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