Devaluation Thread Continued

[French jurist]

Indeed, not bad for being penniless in 1945 to wealth in 1960. How did the French do that?

Thanks to those bloody Americans (for a part)

http://en.wikipedia.org/wiki/Trente_Glorieuses

 

[Joe]

Thanks to those bloody Americans (for a part)

http://en.wikipedia....ente_Glorieuses

What was France exporting to gain all those dollars? Wine?, Renaults? Haute Couture?

 

[Matt84]

We all know that politicians print money to goose the economy prior to their elections. But when you look at the origins of fiat money/money printing it often got its biggest push from financing wars. Both Britain and Germany went off of the gold standard in order to finance WWI. What was the point of WWI by the way?

Remember when Bush was asked what the people should do to support the Iraq war effort:, he replied, "go out shopping!". Yes you can support the war effort by buying Chinese goods with freshly printed fiat currency back by bonds bought by the Chinese...

You have to give W some credit. I would never, ever, imagine FDR saying to the American public, through the radio, at evening, "we have decided that the best way to end this economic crisis is to massively Invade Europe, confiscate the British Empire, and use your taxes to finance Russian supremacy over the Eastern Hemisphere!"

If you change the discourse a little bit it to shine light over how exactly invading Europe made Americans rich would sound very ugly, much like this:

Indeed, not bad for being penniless in 1945 to wealth in 1960. How did the French do that?

By selling German coal to Germany using free German labor?

 

[Matt84]

Both Britain and Germany went off of the gold standard in order to finance WWI. What was the point of WWI by the way?

I don't know. I believe nobody does. The Fed was created in 1913. The war in Europe began in 1914 after a fluke, and it rapidly evolved into a tiring stalemate. The stalemate was resolved in 1917 only when the Americans, for no clear reason (something about a ship or the Balfour declaration?), intervened.

 

[dennisr]

Just a little love.
De Gaulle got my respect when he walked down Pennsylvania Ave at Kennedy's Funeral. Shocked everyone. He was a very complex man. Wounded I think three time in WW I, prisoner of war too.

 

[French jurist]

What was France exporting to gain all those dollars? Wine?, Renaults? Haute Couture?

Situation was quite different from what it is today.

Only for the luxury market (based on my own research during my university time + when I worked in a French auction house):
France had been the number 1 (all segments included) for the luxury/Art world since the mid 17th century (Louis XIV) until the 1950s. Of course some other countries excelled in some sectors (Italy for Sculpture, Painting & Music), but France could really be considered as a giant (shared the Empire title with UK anyway, and to some extent with Spain although Spain was already on the down path).

Just an example: the auction house of Antoine Ader (Paris) was generating revenues higher than those of Christie's or Sothebys in the 1950s. 50 years later, cumulating the revenues of all 400 auction houses in France could hardly reach those of Christie's or Sothebys.
The greatest Art collectors would come to France back in the 1950s, so that would benefit the Haute Couture, the fancy hotels & restaurants and all those luxury markets.

More globally, this wealthy period was due to construction & industry, and the services sector too for some part (which has since become the major source of wealth like in other countries).

France is going down rapidly now. What will happen to our "confettis of a past Empire" (France has territories everywhere, even 4 territories in Jerusalem although with a weird status)? For how long will France remain a permanent member of the Security Council? Should France's voice (which has more than often been independent) remain to be heard? Urgent reforms (not neoliberal ones) need to be put in place, starting from "above" (limiting the number of members of the Parliament & Senators = imagine the US with 2100 Senators & 3462 members of the Parliament?! That's what we have right now in proportion... That would be hilarious if that was not so shameful)

 

[Matt84]

They promise you the stars... you should demand the Sun!

 

[French jurist]

Just a little love.
De Gaulle got my respect when he walked down Pennsylvania Ave at Kennedy's Funeral. Shocked everyone. He was a very complex man. Wounded I think three time in WW I, prisoner of war too.

Oh yes, other times, other mentalities.
1 or 2 of his sons joined the military forces too, and he insisted that they would fight on the first line.

Check also how well the newspaper articles were written in the 1950s press (with no spellcheck tool, etc.). Our modern journalists are pure jokes (many of them can't even write a 1000 words text without spelling mistakes, I guess this is valid in many countries).

For the French presidential elections (2017), we can expect again to see the Extreme Right reaching the 2nd turn. I don't think Marine Le Pen can get elected but she's quite smart. If she gets elected, there's going to be a civil war in France (otherwise we'll break alliances with the US to side with Russia, etc. Although Russia has historically been a traditional ally of France, I prefer the Americans to the Russians, by far, despite what's happening in the US since the 1980s).

 

[Matt84]

''United the French are invincible"
that's another catchy motto
Can Sarkozy come back and get the votes that would otherwise go to Marine?

 

[Pensador]

Situation was quite different from what it is today.

Only for the luxury market (based on my own research during my university time + when I worked in a French auction house):
France had been the number 1 (all segments included) for the luxury/Art world since the mid 17th century (Louis XIV) until the 1950s. Of course some other countries excelled in some sectors (Italy for Sculpture, Painting & Music), but France could really be considered as a giant (shared the Empire title with UK anyway, and to some extent with Spain although Spain was already on the down path).

Just an example: the auction house of Antoine Ader (Paris) was generating revenues higher than those of Christie's or Sothebys in the 1950s. 50 years later, cumulating the revenues of all 400 auction houses in France could hardly reach those of Christie's or Sothebys.
The greatest Art collectors would come to France back in the 1950s, so that would benefit the Haute Couture, the fancy hotels & restaurants and all those luxury markets.

More globally, this wealthy period was due to construction & industry, and the services sector too for some part (which has since become the major source of wealth like in other countries).

France is going down rapidly now. What will happen to our "confettis of a past Empire" (France has territories everywhere, even 4 territories in Jerusalem although with a weird status)? For how long will France remain a permanent member of the Security Council? Should France's voice (which has more than often been independent) remain to be heard? Urgent reforms (not neoliberal ones) need to be put in place, starting from "above" (limiting the number of members of the Parliament & Senators = imagine the US with 2100 Senators & 3462 members of the Parliament?! That's what we have right now in proportion... That would be hilarious if that was not so shameful)

I have heard rumors of the well off getting out of France as fast as they can. Seems they just are not down with that Socialist guy that got caught cheating on his wife.