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Ignorant damn stupid……

The far-right has won the French general election, so far.

The result? The euro has gone up in value and the French stock exchange has increased in value by 2.5 per cent, according to the Guardian. What does this say? I suggest three things.

First, business loves the far-right. They know it exists to benefit them.

Second, the far-right loves big business. Even more than neoliberalism, it exists to serve their interests.

Markets are forward looking. It’s been obvious that the national front were going to do well in this election. So, markets reacted. When the results came in they did less well than expected. Markets then rose in releif that the national front isn’t going to have as much power as previously thought.

Man’s a fuckin’ idiot.

7 thoughts on “Ignorant damn stupid……”

  1. The far right, as epitomised by the Nazis, were the National Socialist German Workers’ Party. Business and socialism do not mix well.

  2. He obviously hasn’t been attending the numerous diversity seminars that are compulsory across almost every sector of private industry – I’d say anyone saying anything that could be deemed remotely ‘Far right’ even in a private capacity would be very fortunate to keep their job.

    I’ll have whatever he has been consuming though as its clearly powerful stuff

  3. Markets are strange beasts though. Very often you’ll get a move yet nothing whatever has changed. It’s just the way things are looked at has changed. And that can be by a very small number of people. The amount of transactions in any market at any time are tiny fraction of all possible transactions. If there were any transactions at all. Market prices, by definition, are trades that haven’t happened. It may simply be that traders have changed their bids/offers without getting a response.

  4. Ducky McDuckface

    The CAC is only 40 stocks, big, international firms.

    And the CAC is still off from early/mid June, when the Euro elections were held, and Macron called the election for the Assembly.

  5. As per one of Tims previous articles, the market has reacted positively to a lower probability of National Socialism completely wrecking the French economy.

  6. As near as I can tell, the RN got about a third of the votes. And Le Pen has been sidling to the left to attempt to make her party more palatable to the electorate. As usual, the ones who are doing all the rioting and burning appear to be the leftists who deem that they have a divine right to rule.

    It doesn’t seem to me that anything startling is likely to happen.

  7. Keith Hewson says:
    July 1 2024 at 8:34 am
    The French public have had enough of being patronised and ignored by the French left wing and this is the result. And you decide to double down!! The left clearly suffer from a complete lack of awareness.!!…

    Richard Murphy says:
    July 1 2024 at 8:53 am
    Since when were the left in power in France?

    Total drivel from you

    tony says:
    July 1 2024 at 11:22 am
    @ Keith Hewson

    I’m sure you are aware of the Pinochet regime’s relationships with the Chicago Boys, and their massive corporate programme of privatisation and deregulation. Over 30,000 people were ‘disappeared’ during their involvement.

    Perhaps you even understand that the present mess in Russia originated with the USA instigated and mismanaged ‘shock therapy’ regime from 1992 which caused a 50% fall in GDP and worsened inflation.

    Neither of these are down to the ‘left’ at all, but represent extreme forms of corporate neoliberalism.

    I would only agree that factionalism within the French Left has ill served the unity of French Socialism for a few decades now.

    Presented without comment – what an utter, utter buffoon – at least he admitted he knew nothing about Japan

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