In today’s extremely volatile circumstances France achieved a significant success. It sold a range of bonds at its lowest borrowing costs during the Euro era. No mean feat I would say.

Hollande has already begun reversing some of Sarkozy’s vicious austerity concerning pensions and is pushing for change in Merkel’s destructive recession inducing policies by at least insisting on a plan for growth which has been anathema to The Frau throughout.

Now lets go back to pre election France. What were we being told? If Hollande wins, the markets will turn on him, borrowing rates will soar and eventually all hell will break loose! Well it didn’t happen that way. And not because Hollande back peddled on his election pledges either. Quite the contrary. However what is the verdict from the dogmatic neoliberal free marketeers?

We are told by the Guardian today that “analysts” (high priests of dogma more likely) are worried that “record low yields could encourage Hollande to stick with a looser fiscal policy.” How terrible! How horrific! But isn’t the core belief that “Markets always know best”? Why suggest the markets are getting it wrong this time? Because their verdict has gone against your pet policies of screwing the people?

And at the same time, why are these champions of the Free Market so desperate for Central Bank intervention either in the Eurozone or the US? Surely, orthodox capitalism dictates that if a business, be this a shoe factory or a bank, fails, it should be allowed to go bust because those are the rules of the game.

But then what else do we need to realise that all this Nonsense Economics that is slowly but surely bringing the world economy to its knees is based on bigoted, vicious dogma and not any any notion of any kind of economics.