Christine Lagarde, France’s Minister of Finance, recently sounded a LOT more like Ronald Reagan than Jaques Chirac.
Last week, when addressing a Council on Foreign Relations gathering in New York City, she was asked, by an American, if the current global credit crisis “indicates a failure of Capitalism so deep, that even in its current regulated form, it cannot work,” she responded with, “Well, there are really only two economic models, Capitalism (the market-based economy) and Communism (the command economy) and history has proven that one of those, Communism (the command economy), cannot work. It fails in regard to undervaluing capital investment, underestimating and misunderstanding consumer demand and ultimately, it does a very poor job of making people happy, which is government’s primary function – the well-being of the people.”
WoW! While I disagree with Ms. Lagarde's "only two economic models," given that between the free market and the command economy is the regulated market economy, which has become the standard for Western industrial nations today. Still, it seems that at least SOME French are more economically literate than far too MANY Americans!
Last week, when addressing a Council on Foreign Relations gathering in New York City, she was asked, by an American, if the current global credit crisis “indicates a failure of Capitalism so deep, that even in its current regulated form, it cannot work,” she responded with, “Well, there are really only two economic models, Capitalism (the market-based economy) and Communism (the command economy) and history has proven that one of those, Communism (the command economy), cannot work. It fails in regard to undervaluing capital investment, underestimating and misunderstanding consumer demand and ultimately, it does a very poor job of making people happy, which is government’s primary function – the well-being of the people.”
WoW! While I disagree with Ms. Lagarde's "only two economic models," given that between the free market and the command economy is the regulated market economy, which has become the standard for Western industrial nations today. Still, it seems that at least SOME French are more economically literate than far too MANY Americans!
6 comments:
I guess even a blind squirrel finds a nut once and a while. Love those frogs.
When was the last time you heard an American politician running for national office utter the word communism or socialism? While Democrats like Obama deny they are Socialists, Republicans deny that such Democrats are Socialist or even have Socialist leanings by their silence.
It's insulting when you think about it. Obama talks about "everyday folk" and how HE will to give 95% of Americans a tx cut. That is going to be some feat since about 33% of Americans pay no taxes at all.
Obama never comes out and says what he means unless some smuck named "Joe" lures it out of him and he blurts "spread the wealth around." After that, the news media smears "Joe" because of what he had the nerve to ask while giving Obama yet another pass. Worst of all, no one in the GOP points out that what Obama said he wants to do is exactly what Chavez, Castro, and Stalin did with wealth.
It's amazing and refreshing to hear someone from France speaking so frankly about the philosophies behind the two economic policies being presented to Americans in this election season. What's scary is that you are right in your assessment of Americans and their lack of knowledge about such things. I guess the French are right when they talk about those "stupid Americans."
Whoa! McCain steps up!
http://news.yahoo.com/s/ap/20081018/ap_on_el_pr/mccain
Roadhouse: Your finding a nut reference makes me think of Jesse Jackson when he talks about Obama.
I'm happy to give her credit when it's due Roady.
What was disturbing to me, was an "American" asking if the current over-regulation of the credit market signalled the demise of Capitalism in such a gleeful manner.
There are a fair amount of Americans who don't have respect for the things that made America what it is.
"When was the last time you heard an American politician running for national office utter the word communism or socialism?" (Joe Sloane)
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You don't hear that at all, Joe, because to even mention socialism/communism is to be accused of "Red baiting," by the brain-dead diddlers on the Left.
Joe the Plumber has a chance to remake this election....if McCain can pick up and carry that theme.
So far, it looks a little too heavy for the Senator from Arizona.
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