alt Hacker NewsIn Europe governments make up such a big part of GDP now in some cases nearly half of it that it becomes silly to talk about the evil capitalist. We should be talking about the graft and poor spending of that money.
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> In Europe governments make up such a big part of GDP now in some cases nearly half of it ...
Oh more than half. In France it's 59% officially. And then there are the fake "private" companies that are actually owned by french-state apparatchiks and operating like the various state monopolies (like utility companies): so the real number is higher than 59%. France has probably more than 2/3rd of its GDP that is public spending. It's basically a planned economy.
A planned economy with the only expected result of a planned economy: the public debt of France is 115% of the GDP growing. Inflation is through the roof (you think gas prices are high in the US?). And they have zero clue as to how they're going to pay their empty promises of pensions to the aging population.
But what's really amazing in a country like France where 2/3rd of the GDP is public spending is this: publications constantly hammer the exact same message as in TFA: "We should tax the rich!". The french Piketty (who's btw never worked for a second in the private sector in his life: a pure product from the socialist french education system who's exceptionally good at creating state-lovers ever begging for more taxes) is mentioned in TFA.
2/3rd of the GDP being public spendings but instead of trying to get out of that planned economy the message hammered by all the media (who are either owned by the media of by the french-state apparatchiks) is: "Tax the rich".
The delicious irony of the 3 first of the only 5 companies France has in the Top 100 by market cap (and none in the Top 50) being three companies selling luxury goods and bringing money into France by selling luxury products outside of France is of course not lost on people.
There's LVMH, L'Oreal and Hermes exporting like mad luxury products and bringing in money from overseas into France and, instead of giving the people owning these companies medals, France explains that you should "tax the rich".
Yeah. But no. I just don't buy it.
I'd rather be poor in a capitalistic society than live as a slave in a planned communist economy.
"Better dead than red" FWIW too.
Well the article wasn’t speaking about Europe but Canada and America.
And if you read the article you will see his mention of the wealthy that are advocating for higher taxes/better wealth distribution and explicitly says that not all wealthy are The Enemy.