When Venezuela recently became the latest in a long line of socialist failures one would have thought that politicians and advocates around the world would have learned from the bitter experience of its impoverished people.
How the late socialist tyrant Hugo Chavez aided by his successor, Nicholas Maduro, wrecked the economy of resource rich Venezuela should have acted as a salutary warning about how not to run an economy. Obviously the French socialists led by Francois Hollande were not paying attention, neither were the French people and now they are paying the price for their folly and greed.
The collapse of the French economy was inevitable the moment Francois Hollande was elected President on an unashamedly socialist ticket. The French people allowed themselves to be seduced by promises of increased welfare benefits, extended entitlements, shorter working hours, longer holidays, bigger pensions and the rest of the usual 'free stuff' - all paid for by taxing the 'rich'.
Along with cheating on his children and various mistresses, Hollande's name is synonymous with seventy five percent tax rates and a visceral hatred of the 'rich'. The fact that he is rich himself doesn't seem to register, but then again it never does with champagne socialists as the British can attest with a gang of their own, led by Red Ed Miliband and his former leader Tony Blair.
Another take on champagne socialists here.
The collapse of the French economy and the resignation of the entire government is a testament to the failure of socialist policies and France joins other ignominious failures such as the Soviet Union, China, North Korea, Cuba, Greece South Africa, Zimbabwe etc. To this list can be added Great Britain when under the Labour governments of Wilson/Callaghan and Blair/Brown.
As was widely predicted, there was an exodus of talent and capital from the country led by the high profile defection actor Gerard Depardeu to Russia.
London, even with its penal levels of taxation, is home to the biggest population of expatriate French people who have chosen exile over living in Hollande's France.
His remedy to cure France's economic problems didn't get off to a very good start with Hollande's appointment of another socialist Prime Minister to replace the former one. In an attempt at justification, it was explained that Manuel Valls is a 'right wing' socialist' whatever that means. (Presumably that makes the former Prime Minister, Jean-Marc Ayrault, a 'left wing' socialist)
On his painful return to earth and economic reality, Hollande's proposed cure for his own disastrous handling of the economy, which has seen unemployment rocket to record levels, includes, "lowering employers costs to spur job creation".
Just having to utter those blasphemous capitalists words must have been a painful experience for Hollande and it didn't get any easier. He also promised to "lower taxes, cut government spending and rethink the thirty five hour working week". Ouch! That must really have hurt.
In addition to these very un-socialist measures he is also begging indulgence from the EU bureaucrats with respect to France's EU commitments. This in itself is an admission that EU membership is an economic liability and a job killer, but I digress.
It is not only President Hollande and the French people who failed to learn about the socialist failures that have engulfed countries around the world from Venezuela to Zimbabwe, the British Labour party and its followers are no better. They are proposing the same disastrous policies of 'free stuff' paid for by the 'rich' to this very day.
The Labour Party leader, Red Ed Miliband was first out of the blocks congratulating Hollande on his election and lauding his economic policies. At this point Red Ed has made no comment about the economic collapse in France or the resignation of the Hollande government.
The fact that Red Ed is a life long Marxist is now accepted and that would explain his dedication to the socialist cause, but if anyone was under the impression that this mindless dedication is confined to the intellectually challenged, the emotionally retarded or the pimpled adolescents that frequent the student union bars, then they would be wrong.
Ed Balls, is one of the privileged elite who was expensively educated at an exclusive private school before going up to Oxford University. In line with the rest of the new cross party political order he gained a first class degree in Philosophy, Politics and Economics. Following this he won a Kennedy scholarship to Harvard University where he specialized in economics. They don't come more qualified in economics than Ed Balls.
One has to be incredibly good at economics to quote as Balls did, "the post neo-classical endogenous growth theory".
For the uninitiated, the British Shadow Chancellor of the Exchequer and senior Labour party figure, Ed Balls, is more than just the economic kamikaze pilot who, together with the misogynist Gordon Brown, crashed the British economy, he is also a bully and an insufferable ignoramus.
There are a multitude of contentious issues that surround this champagne socialist that clearly demonstrate just what a malignant piece of work he is.
Despite being as far removed as possible from the working class, and what to him are the great unwashed, his dedication to the socialist ideology that wrecked the British economy is absolute.
There is his inability to acknowledge, let alone apologise for, crashing the British economy and plunging millions of hard working families and pensioners into poverty.
There is his inability to acknowledge that there is any alternative whatsoever to the economic policies that have failed disastrously in France and Venezuela etc.
There is his willingness to participate in practices that would be considered as corruption outside of the cesspit of British politics that fixed it for him and his wife to enter Parliament representing neighbouring constituencies.
Then there is his willingness to push the boundaries of propriety in order for the British taxpayer to finance their champagne socialist lifestyle.
Ed Balls passes himself off as a champion of the poor and the downtrodden who, he claims, are victims of the dispassionate 'rich'. What he fails to mention that he his rich and privileged himself. He is also a member of the sinister Bilderberg group of elite global activists who, without a care for his carbon footprint, has used the very unsocialist private jet of convicted felon Conrad Black for his personal transportation.
While working as editor of the Financial Times he was 'spotted' and groomed for high political office by person or persons unknown. He was given a manufactured position by the resident Labour Party loony Gordon Brown and 'parked' in the Smith Institute while a 'safe' seat was arranged for his entry into Parliament.
It is worth noting that:
a) The Smith Institute was a fake charity which according to many commentators was nothing other than a slush fund for Gordon Browns political aspirations. While waiting for his 'safe' seat Balls still had to bring home the bacon, so the Smith Institute paid him the princely sum of eighty nine thousand pounds for just two essays. Nice work if you can get it.
b) A 'safe' seat is one where the people mindlessly vote for party regardless of the damage it does to their own well being. The unscrupulous political class take full advantage of this collective stupidity to dump on the electorate a person who will follow the party agenda rather than represent the people.
After his manufactured entry into Parliament Ed Balls worked in the Treasury plotting the transformation of the British economy from a successful one into a catastrophic socialist one. When the Labour party won power in 1997 Gordon Brown was the Chancellor, so he Balls was appointed as the Minister for Children, Schools and Families - once there he set about wrecking the education system.
He instigated 'all must have prizes', grade inflation and made looking after every little bastard's self esteem a priority. He succeeded in churning out a generation of children who possessed high academic qualifications but who were barely literate and unable to master basic arithmetic.
It was working as Gordon Brown's boot boy and in his position as the Labour party's economic guru that Balls did the most damage.
In good old socialist fashion, they raised taxes and took spending to a whole new level; they fire hosed money into the black hole of unreformed public services, including the NHS, schools and welfare entitlements.
They expanded the government and its army of compliant bureaucrats that still blights the lives of the British people to this day.
They raised old taxes and instituted over one hundred new ones. Using fiscal drag they pushed more hard working people into the forty percent tax band than ever before.
Around forty two thousand pounds forces people into the forty percent tax bracket - when National Insurance contributions are taken into account, working class people are taxed at a punishing fifty two percent. Perhaps this is where Hollande got his ideas from.
They sold tons of Great Britain's gold reserves at a knock down price costing the taxpayer some four billion pounds.
They gave away Great Britain's rebate to the European Union, almost doubling taxpayers contributions for nothing in exchange.
They forced solvent banks to rescue insolvent ones causing both to crash.
The list of incompetence goes on and on but to cut to the chase, Balls, Brown, Miliband and the gang, increased taxes, spending and borrowing to record levels at the top of the economic cycle resulting in economic collapse, near bankruptcy and insurmountable debt.
It is sad to say that they, and the British people, have learned nothing from previous socialist failures. If the opinion polls are accurate, a general election held tomorrow would return the Labour party to office with Red Ed as Prime Minister and Ed Balls as Chancellor of the Exchequer, at which point it will be game over and the experience of the French people will be a tea party by comparison.
To end on a lighter note - The Labour party end their annual conference with the traditional singing of the communist anthem, The Red Flag.
I thought it would be fun to see Red Ed lead his party giving us a rendition. I came upon the lyrics and I think readers will find the second verse very apt considering recent events in France:
"Look around the Frenchman loves its blaze
The sturdy German chants its praise
In Moscow's vaults its hymns are sung
Chicago swells the surging throng"
Watch Red Ed doing his communist father proud, enjoy and feel free to laugh out loud, its hilarious.
Another excellent post on the French debacle by The Mellow Jihadi