French public debt illegitimate to 59%!?!

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French public debt illegitimate to 59%!?!




by Christophe » 27/05/14, 16:51

Public debt: illegitimate at 59%

The Collective for a citizen audit of the debt published today its first report on the French public debt. It reveals that 59% of the public debt is illegitimate and calls into question the austerity policies.


Suite: http://www.politis.fr/Dette-publique-59 ... 27152.html
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by Ahmed » 27/05/14, 20:14

The composition of the debt is certainly open to criticism, the fact remains that it is structurally attached to the functioning of a modern state.

The ever more considerable scope of the powers of the states and the growing systemic complexity indeed lead to constantly increasing expenditure; expenditures that are less and less balanced by economic growth, ei , the part of the surplus value that the state can take for its functioning.

This is all the more true, since the state now takes on its own the "rotten" debts of private investments, which result from unsuccessful attempts to capitalize on capital.

The same phenomenon of indebtedness therefore manifests itself in both spheres, private and public.

The middle class, which has become useless for capital appreciation, finds itself in the crosshairs: with substantial income compared to the poorest, but lacking sufficient "power to act" compared to the upper classes, it is a target of choice for extractivism, ie., the possibility for the oligarchy to appropriate parts of a shrinking cake.
At the same time, these austerity policies, as already mentioned, aim to satisfy donors, since only new borrowing will help push back, even a little, the collapse of the system under the weight of its contradictions.
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by Christophe » 02/06/14, 23:50

Le Monde is talking about it ... to wake up the world?

http://www.lemonde.fr/idees/article/201 ... _3232.html
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by Christophe » 21/01/16, 01:23

A video to share:



This does not only concern Belgium, unfortunately ...
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Re: French public debt: illegitimate at 59%!?!




by moinsdewatt » 12/12/19, 02:20

Don't you have 100 balls?

France plans to raise 205 billion bonds on the markets in 2020

AFP • 11 / 12 / 2019

France still plans to raise 205 billion euros in medium and long-term bonds on the markets in 2020, a new record linked to an increasing financing need, Agence France Trésor (AFT) announced on Wednesday.

These issues reached 200 billion euros for the year 2019, which constituted a historic highest precedent.

................


read: https://www.boursorama.com/actualite-ec ... b8b8212727

It should be remembered that the French debt is 2375 billion euros.
http://www.oleocene.org/phpBB3/viewtopi ... 4#p2288634
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Re: French public debt: illegitimate at 59%!?!




by moinsdewatt » 02/01/22, 23:52

France: public debt rose to 116,3% of GDP at the end of September (Insee)

AFP • 17 / 12 / 2021

French public debt stood at 116,3% of gross domestic product (GDP) at the end of the third quarter of 2021, against 114,8% at the end of June, INSEE reported on Friday.

France's public debt, which has widened sharply since early 2020 due to the health crisis, peaked at the end of the first quarter of 2021 at 118,1% of GDP.

The government expects a public debt of 115,3% at the end of 2021, and wants to reduce the public debt to 113,5% in 2022, according to the budget forecasts for next year.

During the third quarter, public debt increased by 72,4 billion euros to reach 2.834,3 billion euros, that of the State having progressed 65,5 billion.

That of the various central administration organizations increased by 4,8 billion euros, mainly due to the debt of SNCF Réseau, which swelled by 4,3 billion euros.

Local public administrations contributed to the increase for 3 billion euros, an increase almost entirely due to the Société du Grand Paris (+1,5 billion) and Ile-de-France Mobilités (+1,4 billion).

Finally, the debt of social security administrations fell over the quarter by 0,9 billion.

The European Treaty of Maastricht of 1992 set a public debt limit at 60% of GDP, which France exceeded at the end of 2002, never to fall below it since.

At the end of 2019, before the Covid-19 crisis, French public debt stood at 97,6% of GDP.


https://www.boursorama.com/actualite-ec ... 8f471ab0a8
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Re: French public debt: illegitimate at 59%!?!




by humus » 03/01/22, 10:13

Do we really need shareholders? Shareholders run your life. Like the deities of modern times, they are those in whose name all sacrifices are requested of us. Budget cuts in our public services and our health system? It is to finance the abolition of the wealth tax, the implementation of the flat tax, tax exemptions and social contributions for private companies. The reductions of positions in your department, the freezing of your salary? It is to allow the shareholders, sorry to the "investors" to continue to support your factory!

Shareholders direct our political life, our economic life and the management of our work. Whether you are in a large company that counts Black Rock among its shareholders or a small one with a small boss who owns a small owner, your work will always be governed by this imperative: to remunerate the ownership of the means of production.

We all know it, but everyone is pretending: no large group slogan is "for the happiness of our shareholders" or "because our dividends are worth it". It is always a question of great services rendered to humanity, of a sense of a job well done, of a taste for innovation and science. But it remains Return On Equity, ROE for close friends, which governs the policy of all large French companies. The ROE is the profit divided by the funds invested in the company. And the standard in this area demanded by most shareholders is 15%. This is very high, and this explains why, in the management of private companies, nothing is left to chance, from the length of the handler's pee break to the productivity of the cashiers per minute.

Who are they, these divinities in whose name we must sacrifice our taxes and our working conditions? A priori it is neither you nor me. I can become one, in theory: by buying the shares of a company I become an individual shareholder, nicely called a “stock marketer”. But with limited means, I would have no role to play in the politics of this company. Moreover, the game is so little worth the candle there are half as many individual shareholders in the country as in the 1990s.

In the capital of large companies, you will find a majority of "institutional investors": that is to say companies whose object is to invest money on behalf of others and demand results. This is the case, for example, with Black Rock, which is not a bank but an asset manager: it places money on behalf of other institutions such as banks, pension funds, insurance companies, businesses… which themselves represent flesh and blood individuals. The largest asset manager in the world, Black Rock brews $ 7000 trillion, which is three times the amount of wealth produced each year in France. He is the 3rd investor in CAC 40 companies and can therefore dictate his management standards to companies, unlike me if I buy 300 euros in Total or Engie shares. In France, financial wealth is super concentrated: the richest 5% hold half of it.

Often, stock ownership is the old-fashioned way: an old and respectable family owns a very large number of businesses. This is the case with the Mulliez family, which owns brands that you probably go to: Auchan hypermarkets, Norauto equipment supplier, Décathlon stores but also the Leroy Merlin brand. In this DIY store chain, which posted a record profit in 2021, management offered during annual negotiations a 2% salary increase while inflation stood at 2.6%.
Because this is also what shareholders are: people who have an interest in seeing your income fall so that their dividends increase. It is in the very nature of capitalism, where capital and labor are separate and their interests clash. And this is what the employees of Leroy Merlin live in their flesh, who are currently on strike and blockade of warehouses to obtain a better share of the pie which the Mulliez is eating.

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Re: French public debt: illegitimate at 59%!?!




by GuyGadeboisTheBack » 03/01/22, 15:11

Besides, we should call them "shareholders" instead of shareholders, all this dung ... : Mrgreen:
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Re: French public debt: illegitimate at 59%!?!




by Exnihiloest » 03/01/22, 21:11

“Launched on September 15, 2021, the“ Together 2021 ”employee shareholding offer was approved by 64 subscribers in 000 countries. 'Orange at the end of 37. "

Ah shit, employee shareholders! But how are we, the anti-capitalist enthusiasts, going to manipulate employees to make them swallow our ideology?
: Lol:
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