Europe is so modern they're throwing things into reverse.
The French politician who said Indian steel company ArcelorMittal should leave the country has told CNBC that his government is only acting like U.S. President Barack Obama.
Industry Minister Arnaud Montebourg, a member of the governing Socialist party, caused controversy last week when he said that the Indian company, which employs close to 20,000 people in France, should leave after it said it would have to close down a factory.
The French government announced on Thursday that it could nationalize the factory in question, with backing from an unnamed businessman.
The news raised the specter of the nationalizations of the early 1980s, which were instigated by Hollande’s predecessor Francois Mitterrand.
Montebourg told CNBC after a meeting with trade unions in Paris: “Barack Obama's nationalized. The Germans are nationalizing. All countries are nationalizing. I've also noticed the British nationalized 6 banks.”
Montebourg brushed off comparisons with that era. He said: “It's a very good sign to send out (to investors). Nationalizing is a very modern step to take. Especially when you not only nationalize losses but profits as well, when you make public/private partnerships. This is our strategy.
Just an aside but the U.S. taxpayers stand to lose tens of billions of dollars as things currently stand from our most ballyhooed nationalization effort: the government-engineered bankruptcy cramdowns of Chrysler and General Motors.
Yeah, that whole nationalization trend in Europe back in the 30s worked out pretty well, didn't it? Oh, but you say, to use the term this guy does, Europe is too "modern" to let some monster like Mussolini or Hitler come to power. Perhaps, but the framework for gross abuses of power against the individual and society as a whole via a supra-legal public-private complex would be firmly entrenched serving at the behest of an unaccountable political class.
We see it here as there are no fewer than 40 lawsuits being brought against the Obama administration on the grounds of religious liberty being infringed upon by the public-private fascist union of the largest health insurers bound to the federal government which was made possible by the Affordable Care Act, or, ObamaCare.
What power you grant the federal government to grant you "rights" is the same power by which the government can take away actual rights.
"Nationalization": It was the "modern" thing to do back in the 30s.