I don’t know if anyone in NY has noticed, but a generational revolt in France has wiped out all of what had been the major parties and their politicians. A brand new party with a 39-year-old leader is in charge.
Where is our Macron?
The good thing about France is that everyone of a given age is in the same boat, with national health insurance and pensions. You don’t have the executive/financial class voting itself more and more money at the expense of shareholders with federal government bailouts behind them, while members of politically powerful public employee unions get one or more year in retirement for each year worked with limited expectations while on the job. As most people get less and less.
The bad news is that even in France Generation Greed promised itself more than it was willing to pay for, even at France’s world-leading tax rates. And then tried to make up for it by shifting cost to the generations to follow. While older generations have guaranteed jobs regardless of performance, younger generations are stuck in the “informal” labor market earning far less with no guarantees of anything and no credits for national insurance schemes.
It seems as though in France, unlike the U.S. and U.K., Generation Greed was unable to limit the choice of candidate and party to its own members promising, first and foremost, to protect its own benefits while lying about what younger Generations are in fact facing. Our choices were another Bush, another Clinton, Bernie (raise Social Security for today’s recipients as much as executive pay with borrowed money) Sanders and Donald (Brexit) Trump. Every political party and every politician here is in favor of continuing to rob the future form those born later as long and as much as possible, with consequences now emerging on the subway. And no one here pays attention to elections for Congress and state legislature — except the special interests.
I’ll be posting less for a couple of weeks waiting for more data to come in and be explained, and then compile it.