Perhaps the last, decadent phase of social democracy is autarky

Or Sarkoautarky.  There is an enormous need to blame anyone but the real culprits in the looting of rich nations.  And I suspect that many of them will go through an Argentina phase of demagoguery, confiscation and violence before they become poor enough to wake up.

Some people call it muddling through and that is true:  through a man made catastrophe.  Hattip Marginal Revolution.

Sarkozy struck a strident new tone in a Sunday rally.

He threatened to pull France out of the Schengen open borders agreement and demanded the European Union adopt measures to fight cheap imports, warning that France might otherwise pass a unilateral “Buy French” law.

“I want a Europe that protects its citizens. I no longer want this savage competition,” he declared to a cheering crowd. “I have lost none of my will to act, my will to make things change, my belief in the genius of France.”