We're Getting Close To A Real Freakout About France...

In the last several days, the chatter about the dismal situation in France has grown much louder.

Today’s PMI reading doesn’t help. In case you missed it, it was a cliff dive. See the blue line.


Then of course there was Hollande’s new soak-the-rich austerity budget that has people wondering whether all the rich will flee, undermining the whole thing. In fairness to Hollande, the “cut benefits to the poor” austerity budgets of other countries haven’t exactly worked wonders either.

Ambrose Evans-Pritchard declares: Another domino falls as Hollande pushes France into depression.

Meanwhile, even Roubini declared that the situation in France was getting more and more grim, and that even social unrest was starting to be a worry.

Deteriorating data, a President whose popularity is on the decline, a tax slap at the elites… here we go.

SEE ALSO: A complete guide to today’s weak PMI numbers >

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