Inflation Won't Cure France

France Needs a "Thatcher Moment"

 But First a Depression

by Mike "Mish" Shedlock

It is amusing reading day in and day out the Keynesian cure for what ails Europe, especially France.

Consider France. Public spending amounts to 57% of French GDP, yet Keynesians want still more. The sad irony is that 100% would not be enough. In fact, it would make matters worse.

France suffers from too much government spending and too much government interference everywhere one looks.

Mike Shedlock argues that higher inflation won’t cure France’s economic problems, and that, with public spending already at 57% of French GDP, more will only make matters worse. France can only recover if it faces the looming crisis, and Shedlock shows how this time the country may be ready for change.

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Read more: globaleconomicanalysis.blogspot.co.uk