The Appeal of Lavish Spending

François Hollande’s colorful campaign did succeed; he was elected President of France. His campaign song that, in journalist Barclay Shoemaker's words, “wantonly promotes lavish consumption and ostentatious spending at a time when Europe faces a huge debt crisis” must have found appeal among the French, more so than the somber aspects of rational thinking and tightening the belt.

Perhaps the French reflect the attitude of the Greek and the Spanish who seem to feel entitled—or has it become an ingrained habit—to enjoy the good life and avoid paying taxes.

Hollande’s success could also be ascribed to a notion that might be rather pleasing to the French: Let those Germans work a bit harder and support us too. Why not? They’re bailing out the Greek and the Spaniards. Why not add us to their list. And next year the Italians.

Greece and Spain suffer from rampant unemployment, especially among young people.

Oddly enough, Germany faced the same problem some 80 years earlier. Inflation had destroyed the currency and 33% of the population was unemployed and starving.  Their only hope was an unknown rabble-rouser who passionately promised work and bread for all.

When he got into power, he kept his promises; before long, unemployment had disappeared; people were building roads, working in ammunition factories and marching in his—Hitler’s—army. It was too late to turn the clock back. The rest is history, but a history so violent we need to be most vigilant never to repeat it.

It’s easy to look at Europe and see the writing on the wall. It allows us to ignore our own problematic situation, and our debt that is unmatched in human history. Yet, we keep printing money and promising everything to everyone, because elections are coming up.

What is going to happen after the elections? Serious inflation?

We’re told that there's no inflation.

Really? The figures must be based on Chinese government-supported products and electronic gadgets that have come down in price, not on daily necessities, such as food and gas. And we’re urged to spend, spend, spend to keep the economy going. I gringe when I think of how much our taxes will be raised after the election!

Here’s a thought. Maybe we should keep our house in order, spend less, live simply and gratefully within our means, and focus on enjoying our family and friends and that most precious and fleeting Gift of Life.

Happy Mother’s Day.

Rosi McIntosh