THE FRENCH OBAMA
If you want to know the likely result of France’s presidential election runoff 10 days from now (May 7), just look at how the markets responded. The euro and the French markets both jumped dramatically.
And this has nothing to do with the underlying strength of the sclerotic, unionized, statist, overtaxed, unproductive French economy or, indeed, with the future of the doomed euro.
It was simply a case of the status quo breathing a sigh of relief that it was going to be business as usual, after all: Emmanuel Macron, the de facto Establishment candidate is now pretty much a shoo-in for the French presidency; his rival, Marine Le Pen doesn’t stand a prayer – of that the Establishment will make sure.
That is, Emmanuel Macron is going to win this presidency because it was decided long ago by France’s Establishment that he was the least-worst option of the candidates available.
The fact that he is a hollow man – a slippery, snake-oil-salesman with a winning smile and nice suits – who will do almost nothing seriously to address France’s massive social and economic problems is a help, not a hindrance.
Emmanuel Macron, you see, is the left-leaning French Establishment’s Manchurian Candidate – the French Obama. The parallels will astound you.















