"Macron wants to indebt Europe and is being rebuffed by the Germans." Editorial by Charles SANNAT (Insolentiae.com)

Charles Sannat provided excellent explanations. For your information, I remind you that tomorrow I am at the IGR. The latest sample indicates the presence of two bacteria that are sensitive to broad-spectrum antibiotics, so this may be the solution to my little problem with my chin. In the meantime, I leave you in the hands of Charles Sannat (who is in great shape and sends his regards).

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Crazy Love,

eurobonds ia

My dear sassy, dear sassy,

Ah… our Mozart of finance, our great helmsman of debt, the little father of the people of Eurobonds has just spoken. For our grand posse of the most indebted European country, the time has come to indebt Europe by creating loans and therefore European debt. 1.2 trillion euros, just to see. To start with. To finance AI, innovation, and all the super cool and wonderful things, of course. And my name is Gertrude. It's an expression, I apologize to all our Gertrudes! Well, all this is economics of the worst kind, and in this broadcast, I certainly didn't mince words. You'll see!

What you need to understand is the political and economic philosophy that underlies Macron's proposal, and there are many who could have formulated the same one.

The complex administrative structure is not due to chance or incompetence.

I think it's been 50 years since we've been told learnedly that we need to reduce the administrative layers, and for 50 years it has been steadily thickening.

We have the State, the regions, then the departments, now the inter-municipal bodies, and finally our municipalities. You must understand that each level is allocated "resources" through one or more taxes. These tax "resources" create a borrowing capacity for each structure or level. To extend the game a little, you create a new level in the administrative maze. You give it 10 revenues. It can then borrow and spend 100. You have created leverage with debt.

The idea of the European system and Eurobonds is exactly the same logic. To create a "new tier" with a completely new borrowing capacity.

Macron has absolutely no intention of reducing spending!

The other lesson is that Macron doesn't want to cut spending. He prefers to dash ahead towards ever-increasing debt, trying to find every possible way to postpone the need for budgetary effort.

For the moment the Germans are against it, but it will end with an agreement where France will cede its atomic bomb and its seat at the UN to Europe and indirectly to Germany, thus completing the unraveling of what little sovereignty we still had left.

I'll tell you everything in this video.

It is already too late, but all is not lost.

Prepare yourselves !

Charles SANNAT

source: Insolentiae.com