Posted Sep 28, 2012 by Martin Armstrong
France’s richest man Bernard Arnault is called an asshole by the left-wing French Newspaper Libération as Arnauld seeks Belgian nationality before introduction of 75% tax by the French Government.
Governments are hunting down the rich like animals chasing capital offshore and destroying the world economy in a single bound. Even if they confiscated all the wealth of the “rich” to pay the bankers, they will not solve the problem. There is no sense of long-term reform or just how government intends to restore the economy. Unemployment among the youth is soaring everywhere. Even in the United States, those freshly out of school are finding jobs scarce. Most smart kids realize that they have to become self-employed to make a living. The smartest have left Greece and unrest is the only means of releasing frustration. Without serious economic reform to address the long-term systemic problems of a failed “socialistic” state that is collapsing in the West precisely as did Communism in 1989, we are likely to see the conclusion of this Marxist experiment by 2016.