To the horror of 'progressives' the world over, the governments of France and Zimbabwe have demonstrated within hours of each other that geographic location is irrelevant when it comes to the economic facts of life.
Both countries have proved that government control of the economy, i.e. socialism, always ends in bankruptcy and economic hardship for those outside the political class.
Despite government friendly media whores in both countries the truth has found a way out.
Zimbabwe, as the informed people of the world are aware, is run by the Western approved socialist madman 'Butcher Bob' Mugabe. This is the tyrant responsible for turning the mineral rich breadbasket of Africa into an impoverished hell hole of starvation, disease and bloodshed.
As the world is also aware 'Butcher Bob' has the habit of murdering anyone who criticises his misrule therefore Zimbabwean Finance Minister, Tendai Biti put his life on the line when he confirmed to the world that after paying the civil servants, the country only has $217 (two hundred and seventeen) in the bank.
He added that the people in the briefing room probably had more money in their wallets than the country had in the bank.
This disaster is a direct result of 'Butcher Bob' Mugabe's 'progressive' policy of redistribution of wealth; mainly land, from the job and wealth creators to the poor without any concern for whether they had the skills to manage such enterprises.
Also, as is typical of 'progressives', Mugabe also redistributed wealth to his cronies, donors and political supporters. (Does that remind my American friends of anyone?)
Simultaneously in Paris, the French Employment Secretary, Michael Sopin, echoed Tendai Biti by announcing that the French state is bankrupt. The French State still exists, he is quoted as saying, but it is bankrupt.
Sopin goes on to say that the tax and spend policies of President Hollande's socialist government are not working.
The government spin machine and the supine French media have gone into overdrive in an attempt to limit the damage.
In an echo of the Obama spin machine, President Hollande's apologists have tried to blame the previous administration of Sarkozy. (It worked for Obama so why not give it a try)
The most pathetic response must go to French Finance Minister Pierre Moscovici who claimed that Sopin had misspoken and what he had meant to say was that "the fiscal situation is worrying" .
That statement is taking socialist imbecility to levels previously unexplored in all written history.
As the informed people of the world predicted when Hollande was elected, his promises to raise taxes and increase entitlement benefits would lead to financial collapse and bankruptcy but being a socialist he refused to listen.
Hollande in common with all socialists is so addicted to his ideology that he is incapable of rational thought.
Despite all the warnings and empirical evidence that his socialist policies would make France's perilous economic situation infinitely worse, Hollande fulfilled his promises to increase taxes including a 75% tax on the 'rich' and to extend unfunded entitlements.
As predicted, inward capital investment dried up together with tax revenue. Upper income tax payers led by film mogul and entrepreneur Gerard Depardieu jumped ship to more tax efficient countries.
The response to this economic disaster is pure socialist stupidity.
Hollande plans to cut government spending by $51 billion and increase taxes by $20 billion.
(The French national debt is fast approaching $1 trillion)
No politician induced crisis would be complete without a suggestion from the loony Greens. The Environment Minister, Delphine Batto is going to help solve this crisis by switching off the lights.
Not only will this save money, Batto is quoted as saying, but it will cut down on light pollution and improve the nation's sleep patterns. I don't know why Hollande didn't think of this before.
The lessons to be learned by the intellectually challenged 'progressives' of the world is that socialist induced bankruptcy and poverty is not confined to African dictatorships like Zimbabwe as I'm sure the people of Greece, Ireland, Spain and now France can confirm.