BEC

Trying to make the numbers work and getting it wrong 99% of the time

Jan 14

Douchebag Festival #1

François Fillon, the brilliant prime minister of France, was all over the economical press today with a marvelous announcement: the country’s growth next year will be TWICE the last prediction. You get the message: it will DOUBLE. Great. Celebrate Bonnes Gens! Crisis is over, future is bright, government is powerful.

Alas for this neat PR trick from Matignon (the prime minister’s residence for our non-french readers, a classic château in the heart of Paris with gold adorned ceilings, we told you, crisis is over), one must be reminded that below +2% growth, France does not create jobs. Unfortunately, the initial prediction was 0,75% and the new one is thus an incredibly high 1,5%. It just means that France is not in recession but we’re still in a deep economic crisis. Thank you for the news, François.

I’d like to add that nowaday, there is a clear trend from French politicians to change forecasts often and loud. Each time, the predicted number is closer to the actual result. May I advise to our politicians to issue forecasts after the release of the actual number. They will make less mistakes.