France is in a Bad Mood, Dumps Sarkozy

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Apparently the Socialist François Hollande has beaten incumbent Nicolas Sarkozy to become the next president of France. Does this demonstrate that the French, like so many in Europe, are tired of austerity politics and are in a mood for rebellion? Maybe. More than likely, though, it’s just the one zillionth data point demonstrating that when the economy sucks, incumbents are in big trouble. Sarkozy is merely the latest victim.