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| The
Editorial page of the Webmaster (2) |
WARNING : On this website, I am trying to give balanced points
of view. BUT : as a Frenchman, I have my own strong personal
opinions. I don't know if they are representative but they are
mine. See also my resume.
Philippe ROCHEFORT
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Read Rochefort's "Diary of an old student" |
- Sub-prime : stupidity
and selfishness !
The sub-prime crisis is an
interesting example of stupidity and selfishness. As everyone
knows, American households do not save money : the rate of saving
of Americans is next to zero, when it's around 15% in France
and in this range everywhere else in Western countries. However,
the US society considers that :
- everyone can buy a house even if he/she cannot afford it :
they call it the American dream
- the Government
must not interfere in your personal life and prevent you from
doing irresponsible things : they call it freedom
Well, today it is a nightmare and it is not freedom in the USA.
All over Europe (and in France of course), you cannot buy a house
with a 100% credit and the bank regulators forbid loans to people
who are unlikely to pay it back (there are rules on minimum income,
etc...).
But the American society tolerates that millions of poor people,
fooled by irresponsible banks acting without any serious regulation,
lose their house and have their life destroyed. This is not freedom,
this is a stupid jungle.
In addition to that, a large part of the credit risk has been
transferred all over the world through structured finance vehicles.
This is not market economy : this is a rip-off and Europe has
to pay for America's irresponsible behavior. (Summer 2007) Back
to top of the page.
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- Socialized
medicine? Give me a break.
Sometimes the US political
debate looks totally unreal to an European. I just saw US presidential
candidate Rudy Giuliani saying " The American people do
not want socialized medicine " followed by Hillary Clinton
saying " We don't want bureaucrats to make decisions for
our health ". I can't believe it. Here in France, I can
choose my doctor (I am free). He gives me whatever treatment
seems appropriate (he is free). The Social Security system reimburses
60 to 70% of the cost and my private insurance covers above that
according to the choice I made (and the premium I paid). The
key-point : if the illness is serious or chronic, the SS reimbursement
is 100% (it's free!). An example ? Every six months I go to one
of the best hospitals in France for a cardiology check-up. I
am followed by the Head of Department. Last time, the cashier
apologized : they had been forced to raise the price they charge
and I had to pay now Euros 7,80 ($11). Except for fraud, the
SS system NEVER refuses to cover an expense. Everything is computerized
: no paperwork, no mean bureaucrat in the way, no letter to claim
a reimbursement, no lawyer, etc... It is against the law NOT
to be covered. However the system is efficient and globally,
the cost for health care in France is 30 to 40 % BELOW what it
is in the USA (and we live longer !). Where is the mean communist
state in all this ? (For once) which country is the most reasonable
and creates better life conditions for its citizens ? More on
health in France. (Winter 2008)
Back to top of the page.
- To be completed....
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To table
of contents
To my family website
and its genealogy pages
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For more on intercultural
differences, order Harriet Welty Rochefort's
books :
- "French Toast, An American in Paris Celebrates
The Maddening Mysteries of the French",
St.Martin's Press, New York, 1999
- "French Fried, The Culinary Capers of An American
in Paris", St.Martin's Press,
New York, 2001
More on Harriet's books (excerpts, upcoming
events, testimonials, etc..)
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