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The number of people out of work in mainland France surged to 4,3 million in April of 2020

4,316,17 million people in mainland France is out of work in April this year, and that is the biggest increase in registered unemployment and the highest level since series began in January of 1996 amid the coronavirus epidemic.

Youth unemployment rate in France increased to 20,4 percent in March. 2,5 million aged 25 to 49 is out of work. 1,1 million over aged 50 or more is unemployed and that among young people went up by nearly 150 percent.

15 years ago, protesters in France took to the streets but they were a lot more different then today. Back then, most of them were people from the black community. Now, it is different. The protesters are not only black but white and they are in all ages.

The growth in France is very slow. GDP in France plummeted 5,4 percent in the first quarter of 2020, which means they have one foot in the recession area. A bad number in Q2 means they are officially in a recession.

France is the seventh largest economy in the world and the second largest in the Euro-Area. France has a large and diversified industrial and agricultural base which includes aircraft, military equipment, perfunes, pharmaceuticals, wine, beef and wheat production.

France is also the most visited country in the world with at least 82 million foreign tourists visiting France every year. 79 percent of their total GDP comes from service which is their biggest sector of the economy.

France is the second largest exporter of agricultural products in the world, and agriculture contributes 2 percent to their.GDP.

60 percent of people`s hard earned money went to the state of France 20 years ago, but now the slashed the rate to «only» 45 percent.

The corporate tax rate in France stands at 33,3 percent. Down from 50 percent in the early 80`s.

Something happened when Francois Mitterrand entered the scene. He was a French statesman who served as President of France from 1981 to 1995, the longest time in office in the history of France. As First Secretary of the Socialist Party, he was the first left-wing politician to assume the presidency under the fifth Republic.

Reflecting family influences, Mitterand started political life on the Catholic nationalist right.

He joined the Resistance and moved to the left, and held ministerial office several times under the Fourth Republic. Mitterand opposed de Gaulle`s establichment of the Fifth Republic.

Mitterand invited the Communist Party into his first government, which was a controversial decision at the time. In the event, the Communists were boxed in as junior partners and, rather than taking advantage, saw their support erode.

They left the cabinet in 1984. Early in his first term, Metterand followed a radical left-wing economic agenda, including nationalisation of key firms, but after two years, with the economy in crisis, he reversed course.

He pushed a socially liberal agenda with erforms such as the abolition of the death penalty, the 38-hour week, and the end of a government monopoly in radio and television broadcasting. His foreign and defense policies built on those of his Gaullist predecessors.

His partnership with German Chancellor Helmut Kohl advanced European integration via Maastricht Treaty, but he reluctantly accepted German reunification.

Beyond making the French left electable, Mitterand presided over the rise of the Socialist Party to dominance of the left, and the decline of the once-mighty Communist Party (as a share of the popular vote in the first presidential round, the Communists shrank from a peak of 21,27% in 1969 to 8,66% in 1995). Something happened.

It was a shift in May 1968.

In the beginning of May 1968, a period of civil unrest occurred throughout France, lasting some seven weeks and punctuated by demonstrations, general strikes, and the occupation of universities and factories.

At the height of events, which have since become known as May 68, the economy of France came to a halt.

The protests reached such a point that political leaders feared civil war or revolution. The national governement briefly ceased to function after President Charles de Gaulle secretly fled France to Germany at one point.

The protests spurred movements worldwide, with songs, imaginative graffiti, posters, and slogans. Some of the slogans was this; Je suis Marxiste (I`m a Marxist), Marx, Mao, Marcuse (also know as 3M), CRS = SS (CRS is the general reserve of the French police).

The unrest began with a series of student occupation protests against capitalism, consumerism, American imperialism and traditional institutions. Heavy police repression of the protesters led France`s trade union confederations to call for sympathy strikes, which spread far more quickly than expected to involve 11 million workers, more than 22% of the total population of France at the time.

The movement was characterized by spontaneous and decentralized wildcat disposition; this created a contrast and at times even conflict internally amongest the trade unions and the parties of the left. It was the largest general strike ever attempted in France, and the first nationwide general strike.

The student occupations and general strikes initiated across France were met with forceful confrontation by university administrators and police. The de Gaulle administration`s attempts to quell those strikes by police action only inflamed the situation further, leading to street battles with the police in the Latin Quarter, Paris.

However, by late May, the flow of eents changed.

The genelle accords concluded on 27 May, between the government, trade unions and employers, won significant wage gains for workers. A counter-demonstration organised by the Gaullist party on 29 May in central Paris gave De Gaulle the confidence to dissolve the National Assembly and call for parliamentary elections for 23 June 1968.

Violence evaporated almost as quickly as it arose. Workers went backk to their jobs, and when the elections were held in June, the Gaullists emerged stronger than before.

The events of May 1968 continue to influence French society. The period is considered a cultural, social and moral turning point in the history of the country. It is considered to be a social revolution, not a political one.

The French Communists and French Socialists formed an electoral alliance. Communists had long supported Socialist candidates in elections, but in the «February Declaration» the two parties agreed to attempt to form a joint government to replace President Charles de Gaulle and his Gaullist Party.

Personal Income Tax is one of the highest in France. About half of the hard working money is going straight to the state. On top of that, people in France must pay lots of money every single day if they drive a car on the road. They have toll roads in France.

If you drive from Boreaux to Paris, it costs 55,60 euros for Classes A and 85,60 euros for Classes B. The cost from Marseille to Paris will cost you 59,50 euros for Classes A and 93,70 euros for Classes B. The yellow vest proteters took control of the toll roads a year ago. The same protesters were also called anti-fuel protesters.

4,3 million people is out of work in France in April 2020. Personal Income Tax is 45% and it cost 93,70 euros (103,79 US Dollars) for Classes B to take a trip from Marseille to Paris. In addition; Many French households pay more in electicity than consumers elsewhere in Europe.

The growth in France is declining and a recession is imminent. So are a deep depression. France government debt to GDP is 98,1%. Cost of food in France increased 3,70% in April 2020 and that`s the highest food inflation rate since March 2012. The cost of living in France is rising.

In France, the welfare system make up for about 500 billion euros annually, or more than 30% of GDP. Unemployment benefits in France is minimum 28,86 euros per day, and maximum 245,04 euros per day.

France`s social programs is health care which is a system developed in 1945 and slowly became the EU`s most complicated. So is the Pension system, Family insurance system, the housing system, the education system and the unemployment insurance.

The recession is on Macron`s table. A business brain like Trump will cut the taxes, but people on the other side believe higher taxes and more expensive toll roads means more money to the state.

To contact the author of this story: Ket Garden at post@shinybull.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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The US unemployment go straight up while the pending home sales go straight down

China`s growth plummeted -6,8 YoY in Q1. The growth in the U.S is still on the right side, coming in at 0,3 percent YoY in Q1. But if you look at the quarter, the growth in China is down -9,8 percent, while the U.S growth is down -4,8 percent.

The annulized 4,8 percent drop in Q1 of 2020 markes the end of the longest period of expansion in America`s history. The drop is the steepest pace of contraction in GDP since the last quarter of 2008 (financial crisis).

The Covid-19 pandemic forced several states to impose lockdown measures in mid-March and that pushed millions of people out of work. The unemployment rate go straight up while the pending home sales go straight down.

Contracts to buy previously owned homes in the US dropped 16,3 percent YoY earlier in March this year, and that is the biggest annual decline since April 2011, amid the Covid-19 crisis. On a monthly basis, pending home sales went down 20,8 percent, which is the largest drop since May 2010.

Unfortunately, it seems like this is just the beginning.

The next quarter can be very ugly, while the unemployment rate can go straight up to Great Depression levels. The growth in the US can plunge more than 30 percent. If that is happening, what do you thing will happen to the pending home sales?

The numbers are expected to get even worse in April as the government surveyed businesses and housholds for the report in mid-March, before majority of people was under some form of a lockdown.

Trump`s economic adviser Kevin Hassett said unemployment in the US can soar to 17 percent. In March the unemployment rate was 4,4 percent in the US.

During the financial crisis, the US lost about 9 million jobs, but now the US is losing that many jobs about every 10 days, Hassett told ABC on Sunday.

This is sad, because all the jobs created since the Great Recession (2008) have been wiped out. So far, we are talking about 26 million and it can be worse. Hassett told ABC the unemployment will surge to levels not seen since the Grat Depression (1929).

During the Great Depression, about 15 million jobs were lost.

So, we know what`s coming. People without job and money will not buy a house.

Pending home contracts generally are seen as a forward-looking indicator of the health of the housing market because they become sales one to two months later. This summer holiday will be very special.

To contact the author of this story: Ket Garden at post@shinybull.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Maria Bartiromo warns against knee-jerk reactions to market selloff

This week started with a strong reaction on the stock market, but Maria Bartiromo warns against knee-jerk reactions to market selloff. Knee-jerk is an immediate unthinking emotional reaction produced by an event or statement to which the reacting person is highly sensitive; it`s origin is thus: from the tendency of the knee to jerk involuntarily when hit sharply, properly called the patellar reflex.

Apple can plunge because of the virus disaster in China, but not all the American blue chips are like Apple. Check your portfolio and find out what exposure your companies have. You don`t have to sell all your stock today, Maria said live on Fox on Monday.

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Former Reagan economist Art Laffer said it is the longest recovery in the U.S history, and it is all because of Trump

The Hate Trump Media Mob said Trump will never be a president. The day he was inaugurated, they said he was stupid becuase he wanted to cut taxes. They also said he can`t run the White House like a corporation.

But millions of people voted for Trump and it seems like the majority of the people did the right thing. 61% of the Americans say they are better off today than three years ago (Gallup). Trump made it easier for for ordinary people and corporations by cutting the taxes, and this is why the American economy is booming.

Barak Obama want some credit for it. «Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history,» he wrote in a tweet yesterday.

Former Reagan economist Art Laffer said it is the longest recovery in the U.S history, and it is all because of Trump.

Obama printed money but the recovery was very slow. When Trump entered the White House, things changed very fast. The difference between Obama and Trump is that Obama is a politician while Trump is an economist.

Trump is a businessman and he know how it works. In addition, he have support from economists like Steven Terner Mnuchin and Larry Kudlow. Mnuchin is an American investment banker and civil servant. He is also a former hedge fund manager and investor.

As Secretary of the Treasury, Mnuchin supported the tax reform of 2017 and advocated reducing corporate tax rates. He also supports a partial repeal of Dodd-Frank, citing the complexxity of the legislation.

Kudlow has also been in the game for a very long time. He is an American financial analyst and former TV host. He began his career as a junior financial analyst at the New York Federal Reserve. Later on, he jumped ove to Wall Street.

Kudlow joined the administration of Ronald Reagan as associate director for economics and planning in the Office of Management and Budget.

The U.S has strongest most durable economy in the world, Obama said during his 2016 State of the Union address. The job growth was strong under Obama. At that time, America has put more people to work than Europe, Japan, and all advanced economies combined, so Obama was correct.

I don`t care about left and right. For me they all on the same team. Let`s call it Team America.

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Nationalist party Sinn Fèin are celebrating a historic result in Ireland

The nationalist trend continues in Europe. Similar to the United States under president Trump. A poll on Friday last week revealed that Chancellor Angela Merkel`s party CDU dropped from 21,7 percent to «only» 12 percent. What a bombshell.

Only a few days later, we have a new bombshell. This time it is in Ireland were Sinn Fèin are celebrating a historic result. Sinn Fèin won 37 seats which is an increase of 14 on the 2016 election. Fianna Fàil lost 6 seats, but is the largest party with 38 seats. Only one more.

Image result for sinn fein

The IRA`s former political wing Sinn Fèin`s leader Mary Lou McDonald said the outcome was «something of a revolution in the ballot box». Sinn Fèin used to be a political wing of the Irish Republican Army (IRA), which fought for Irish unity during the decades-long sectarian conflict known as “the troubles.”

This election has been different from others and the main issues has been housing, healthcare and childcare. The answer to that is the nationalist party Sinn Fèin which is not a left-wing party but a nationalist party. A party more like a pragmatic party according to specialists.

This is a complicated phenomen because the party was changed to Sinn Fèin – The Worker`s Party in 1977 and then to the Workers’ Party in 1982. The party has been closely associated with the IRA. Natable organisations that derived from it include Democratic Left and the Irish Republic Socialist Party.

Before the split with the terrorist organisation IRA in 1969-1970, the Workers’ Party was a Marxist-Leninist political party. But the Marxist outlook became unpopular with many of the more traditionalist republicans, and the party/army leadership was criticised for failing to defend northern Catholic enclaves from loyalist attachs.

(These debates took place against the background of the violent beginning of what would become «The Troubles»).

Mr. Varadkar`s center-right party Fine Gael slumped in opinion polls amid crisis in housing and healthcare. They have been trading power for decades along with another center-right party Fianna Fail. A duopol that is now coming to an end.

Both center-right parties had ruled out an alliance with Sinn Fèin during the campaign, and Mr Varadkar said Sinn Fèin was «not a normal party.»

Sinn Fèin support a policy of «critical engagement with the EU», and have a «principled opposition» to a European superstate. It opposes an EU constitution because it would reduce the sovereignty of the member-states.

It also criticises the EU on grounds of neoliberalism. Sinn Fèin MEP Matt Carthy says the «European Union must become a cooperative union of nation states committed to working together on issus such as climate change, migration, trade, and using our common strengths to improve the lives of citizens.

If it does not, EU disintegration becomes a real possibility.

The phrase «Sinn Fèin» is Irish for «Ourselves» or «We Ourselves».The name is an assertion of Irish national soverignity and self-determination; i.e., the Irish people governing themselves, rather than being part of a political union with Great Britain (England, Scotland and Wales) under the Westminister Parliament.

Sinn Fèin is the largest Irish republican party, and a republican document of the early 1980`s stated: «Both Sinn Fèin and the IRA play different but converging roles in the war of national liberation. The Irish Republican Army wages an armed campaign….. Sinn Fèin maintains the propaganda war and is the public and political voice of the movement.

The British government stated in 2005 that «we had always said all the way through we believed that Sinn Fèin and the IRA were inextricably linked and that had obvious implications at leadership level.»

«This is not a protest vote», leader of Sinn Fèin Mary Lou McDonald said on national TV yesterday. Why people voted for Sinn Fèin is their deep dissatisfaction with the traditional big two parties in Ireland. What people ask for is an alternative party for government. Huh…sounds like AfD in Germany. Another alternative party.

The risk now is a destabilisation of the Good Friday Agreement. The Belfast Agreement is a pair of agreements signed on 10 April 1998 that ended most of the violence of the Troubles. A political conflict in Northern Ireland that had been going on since the 1960`s.

It was a peace agreement between the British and Irish governemtns, and most of the political parties in Northern Irealand, on how Northern Ireland should be governed.

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