Economic crisis: France: 1 - Rest of the world: 0

[SwordsMaster]

So the french win. Again. They already have lower heart failure and obesity rates, nicer beaches, nicer women with sexier accents, and nicer food and wine, and now also they are also ahead by what they do not have: an economic crisis.

Unlike Britain, the US and many other countries, France appears to be weathering the credit crunch storm in reasonable shape.

Considering France is the world's 6th economy, with the 1st, 3rd, and 5th rapidly crumbling, and the second treading very carefully, France's 1% growth doesn't sound so terrible, and her secret plan for world domination might just succeed. If Russia doesn't invade someone else, that is. But it probably won't be France.

So what do our resident orgahs think of credit spending and hamburgers as opposed to debit spending with Chateau Laffite?

[Kadagar_AV]

Allons enfants de la Patrie, Le jour de gloire est arrivé !

[Oleander Ardens]

While Germany will suffering from slowing global demand it is far more competitive than other big European nations like Great Britain, Spain, France and Italy. So I add some good bavarian weisswurst to the baguette

[gaelic cowboy]

While Germany will suffering from slowing global demand it is far more competitive than other big European nations like Great Britain, Spain, France and Italy. So I add some good bavarian weisswurst to the baguette

I would say that Germany will suffer in medium term due to drop off in demand for its cars and also a significant drop in high tech machinery sales this is obvious to us all but they are two of german strengths which will bounce back.

[gaelic cowboy]

If you believe France is not in economic crisis due to this crunch then thats your right but its not correct in the slightest. French companies are among the big guns in globalisation in Europe. France does very well out of globalisation but its not a popular subject to the common man on the street too much rhetoric about job losses and mcjobs etc etc.

The French still believe they somehow either need to stay apart from the world or that they are apart for the rest of the world at least in ecomonic terms. But a quick scan shows Societe General BNP Paribas just to name two that are global in size and exposed to this problem plus as we all know one of them just barely got away with a financial fraud on a massive scale. More like a nil all draw if you ask me.

[SwordsMaster]

If you believe France is not in economic crisis due to this crunch then thats your right but its not correct in the slightest. French companies are among the big guns in globalisation in Europe. France does very well out of globalisation but its not a popular subject to the common man on the street too much rhetoric about job losses and mcjobs etc etc. The French still believe they somehow either need to stay apart from the world or that they are apart for the rest of the world at least in ecomonic terms. But a quick scan shows Societe General BNP Paribas just to name two that are global in size and exposed to this problem plus as we all know one of them just barely got away with a financial fraud on a massive scale. More like a nil all draw if you ask me.

Well, from what I understand from the unpunctuated blob, your point is exactly what? That globalisation is good? That french denial of globalisation is bad? That french companies haven't been affected by the global crisis as much, which we already know?

The credit crunch has affected european finances less that US finances anyway, exception made of the UK, and France even less that Europe in general.

So I don't see your point at all. France's ability to not depend on globalisation is a good thing in the current crisis, as is also the fact that french banks do not lend money easily and therefore don't have liquidity and leveraging problems as do others.

[gaelic cowboy]

Well, from what I understand from the unpunctuated blob, your point is exactly what? That globalisation is good? That french denial of globalisation is bad? That french companies haven't been affected by the global crisis as much, which we already know?

The credit crunch has affected european finances less that US finances anyway, exception made of the UK, and France even less that Europe in general.

So I don't see your point at all. France's ability to not depend on globalisation is a good thing in the current crisis, as is also the fact that french banks do not lend money easily and therefore don't have liquidity and leveraging problems as do others.

I am not an english professor never said I was you will have to excuse my writing and comprhension but I just broke it up into two sections.
Apollogies for the unreadable nature of the post I dont really post musch these days anymore and I was never very up in the rules of posting.
I never said been in or out of globalisationsaid itself was good or bad I said France is affected by this crisis like it or not pretend or not it is even if its only indirectly by lower demand for french products.

France according to my post actually does depend on globalisation a huge amount French companies are global obviously and interconnected to the world trade system a drop in demand on a global scale affects France. French banks may not have lent but conversely there is no money to borrow either which is just as bad.

[SwordsMaster]

I am not an english professor never said I was you will have to excuse my writing and comprhension.
I never said it was good or bad I said France is affected by this crisis like it or not pretend or not it is even if its only indirectly by lower demand for french products.
France according to my post actually does depend on globalisation a huge amount French companies are global obviously and interconnected to the world trade system a drop in demand on a global scale affects France. French banks may not have lent but conversely there is no money to borrow either which is just as bad.

Well, of course France will be affected by the lower demand in french products. I agree. But what you have to consider is that France's exports to UK and US are only 14% of the total with almost half of the exports going to african nations, which means also that banking is a relatively minor part of France's customer base. You also must take into account that french banks operating in the US will get a piece of that bailout package Bernarke is still trying to push through, so I can see how France can escape the crisis relatively unscathed.

The problem lies not in the fact that french companies are global, but rather with whom exactly they have business. I think the french economy will suffer more from the high oil prices than it will from the mortgage and credit crunch.

But that's just my armchair economics.

[Jolt]

Allons enfants de la Patrie, Le jour de gloire est arrivé !

Il faudra un long, long moment jusqu'à que ce jour arrive.

[Louis VI the Fat]

Me so ashamed.

What Osama bin Laden would like to, but couldn't do... we've done to ourselves.

No need to be ashamed, just be sure to vote Democrat this time.

All systems have their advantages and disadvantages. The world has cried the end of American before. In the eighties, the Japanse model was going to wipe the American model off the map. Then America re-invented itself into the most dynamc economy and changed the world by an information technology revolution of unbelievable global impact.

No need to panic.

All countries have their strengths and weaknesses. France has some serious social problems, and some luggish economical ones too. What we do not have, is a Vegas economy. So this is one storm we'll weather out. We'll feel the effects only indirectly. (Like the Anglos plunging the world into a recession, or the Chinese pushing the 'off' button. Or emerging powers capitalising on the fall of the Anglo world system or )

[HoreTore]

No crisis here either. We profit from when the oil goes up We also have a ton of money stored away, so we can probably buy your country in a year or so

KukriKhan: don't worry, I'll hire you as my maid.

Laffite?

Female genitals?

[KukriKhan]

No crisis here either. We profit from when the oil goes up We also have a ton of money stored away, so we can probably buy your country in a year or so

KukriKhan: don't worry, I'll hire you as my maid.

I do have tons of experience mopping floors. But I ain't wearing the heels & apron, dude. A little dignity, please. :)

No need to be ashamed, just be sure to vote Democrat this time.

LOL. Unless something miraculous happens in the next 5 weeks to change my mind, I'll probably file yet another third-party protest (yea, I know: throwaway) vote. I haven't gotten my ballot yet to see which yay-hoo will get my nod.

[HoreTore]

I do have tons of experience mopping floors. But I ain't wearing the heels & apron, dude. A little dignity, please. :)

SILENCE, UNDERLING!!

[KukriKhan]

SILENCE, UNDERLING!!

Yassah, Massah.

[SwordsMaster]

Female genitals?

Sorry. Misspelled.

I believe most economies that have sensible borrowing policies and regulations will weather the crisis with little drama.

[Oleander Ardens]

While Germany itself is not as weak as other countries, Hypo Real Estate, a company in the DAX with a solid balance sheet is in free fall. It makes profit but a small subunit in Ireland can no longer operate because the specific credit markets are frozen. It got a lifeline credit by German Banks. In one day a -60% slump. A real run on the bank.

[JR-]

it may just take longer for things to get ugly in europe, with no way to fix it:
http://blogs.telegraph.co.uk/angela_...ke_a_tea_party

[Kralizec]

It used to be mostly quiet in the Nether regions until recently. One large Dutch/Belgian bank (Fortis) is on the verge of collapse because they overtook another bank (ABN Amro) shortly before anyone knew something was about to go wrong, and they agreed to gradually pay an enormous sum of money.

[_Tristan_]

Frankly, to the man on the streets of Paris (or any French city for that matter), things aren't so bright... There exists a pervasive glumness due to the rising costs of housing, higher credit rates, and the fact that everything is more and more costly day by day...

So it is nice to see that others think we French are doing well