Is France the Next Time Bomb?

Spain, Portugal, Greece, Italy....we know those economies are wrecked and just waiting for the next round of riots, protests and lectures from the IMF and Germany about how irresponsible they were to spend all this money that they never had!!

But how about France?  Are they going to be the next place that requires a bail out from Germany and/or the IMF?

What happens when a boat is taking in water through a three foot wide hole and all you have is one bucket to bail out the boat?  At what point do you realize that the ship is going down no matter how fast you work your bucket...and even if you call Germany to bring their bucket, it simply won't help?

PARIS (AP) -- The sounds of raucous protest echo in the Presidential Palace, unemployment is rising to levels not seen in over a decade, and his country's economy has been called a potential time bomb at the heart of Europe.

                

Francois Hollande, among the most unpopular French leaders in modern history, remains calm.

                

Lacking the early-career charisma of President Barack Obama or the hard-nosed reputation of Germany's Angela Merkel, Hollande rose to power in the Socialist Party as a consensus-builder — someone who went out of his way to avoid confrontation. But the amiability that propelled him to the presidency a year ago is turning against Hollande, as poll after poll finds deep disappointment among many who believe he is incapable of the swift, determined choices needed to yank France out of a malaise he himself says threatens generations to come.

Economists say that France's predicament stems neither from the country's right or left, but from generations of benefits that few politicians are willing to take away. Hollande's predecessor, Nicolas Sarkozy, only half-heartedly tried to raise the work week from 35 hours, then pulled back even before strong opposition emerged.

Here;  http://news.yahoo.com/lonely-french-president-time-crisis-062456768.html

What???....you mean GENEROUS BENEFITS using borrowed money can become a problem for society??  Wow!!  That is an amazing discovery!

So with Medicare, Medicaid, Social Security, Food Stamps, Section 8 housing, Student Loans and about 20 other "benefits" being offered by the U.S. Government....all using borrowed money....how long will it be before the headlines around the world read, "Is America the Next Ticking Time Bomb?"

Friends, it WILL HAPPEN.  We simply don't know if it will happen in 6 months or 6 years.  It could be a slow fade and or it come like a flood...but make no mistake...our day IS coming.