Thursday, September 27, 2007

Why The EU is NOT going to Work!

".....The euro has risen to a record high against the U.S. dollar and its appreciation against the greenback, yen and Chinese yuan is causing French President Nicolas Sarkozy to foam at the mouth. His grand plan to revive the French economy with pump-priming tax cuts is being undermined by a strong currency and high Euro interest rates...."
From The Globe and The Times UK

While the Euro central bank fiddles with interest rates trying to fight the economic problems of the last century ........... France's new leaders are being stymied in their efforts to stimulate their own national economy through tax cuts.

The poisoned pill of debt left by the socialists who have dominated the French for the last 30 years is being augmented by the policies of the central European Governments' financial bureaucracy.

If France had control of it's own economy it could lower interest rates ... which would provide the dual benefit of reducing debt load and generating more tax revenue through economic stimulus. Not to mention a lower currency would help promote exports and improve trade balances. Simultaneously providing room to offer the tax breaks that are needed for the longer term health of the economy.

Unfortunately , France has submitted it's economy's control to the will of the EU.

How many times does the world have to witness the stupidity of bureaucratic meddling backed by socialist proponents of state controlled economy before people in general say "Enough!" ??

*** On The Home Front***
PM Harper made this announcement today:

From CP :

"TORONTO - Ottawa reduced the national debt last year by $14 billion, shaving $750 million off its annual interest payments, Prime Minister Stephen Harper said Thursday.

The savings will be passed along to taxpayers in the form of continued cuts to personal income taxes, he said."

Bloody Right! And thanks Steve .......


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