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Paris Burning: Luxury Stores Looted and Burned in Latest Yellow Vest Uprising

Summary:
Once again Paris is burning in Yellow Vest protests. This is the worst round of rioting yet. I am saddened by the latest round of Yellow Vest protests in France. To top it off, Trump is practically gloating over them. Rioters looted and torched shops and businesses on the famed Champs-Elysees avenue in Paris on Saturday, on the 18th weekend of French "yellow vest" protests, characterised by a sharp increase in violence after weeks of dwindling turnout. President Emmanuel Macron cut short a skiing trip in the Pyrenees to return to Paris for a crisis meeting, as hooded protesters went on the rampage in Paris, leaving a trail of destruction in the touristic heart of the city. The police appeared overrun as protesters swarmed the Champs-Elysees, vandalising and later setting fire to Fouquet's

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Once again Paris is burning in Yellow Vest protests. This is the worst round of rioting yet.

I am saddened by the latest round of Yellow Vest protests in France. To top it off, Trump is practically gloating over them.

Rioters looted and torched shops and businesses on the famed Champs-Elysees avenue in Paris on Saturday, on the 18th weekend of French "yellow vest" protests, characterised by a sharp increase in violence after weeks of dwindling turnout.

President Emmanuel Macron cut short a skiing trip in the Pyrenees to return to Paris for a crisis meeting, as hooded protesters went on the rampage in Paris, leaving a trail of destruction in the touristic heart of the city.

The police appeared overrun as protesters swarmed the Champs-Elysees, vandalising and later setting fire to Fouquet's brasserie, a favourite hangout of the rich and famous for the past century -- as well as luxury handbag store Longchamp, a bank, another restaurant and several news stands.

The rioters also looted several clothing stores and set fire to barricades in scenes reminiscent of the worst yellow-vest riots in Paris in December. Saturday's protests were markedly more violent than in recent weeks. Police said close to 240 people were arrested, while prosecutors said more than 100 had been taken into custody.

The bank set alight was on the ground floor of an apartment building, and fire firefighters had to quickly evacuate the residents, including a nine-month-old baby.

French Protesters Riot in Paris, Accuse Macron of “Hot Air”

French yellow vest protesters set life-threatening fires, smashed up luxury stores in Paris and clashed with police Saturday in the 18th straight weekend of demonstrations against President Emmanuel Macron. Large plumes of smoke rose above the rioting on Paris’ landmark Champs-Elysees avenue, and a mother and her child were just barely saved from a building blaze.

Cobblestones flew in the air and smoke from fires set by protesters mingled with clouds of tear gas sprayed by police, as tensions continued for hours along the Champs-Elysees. By dusk, as the demonstrators had dispersed, the famed avenue was a blackened expanse.

The resurgent violence comes at a watershed moment for a movement, which had been fizzling in recent weeks, and at the end of a two-month-long national debate called by Macron that protesters say failed to answer their demands for economic justice.

One arson fire targeted a bank near the Champs-Elysees on the ground floor of a seven-story residential building. A mother and her child had to be rescued just as the fire threatened to engulf their floor, Paris’ fire service told The Associated Press. Eleven people in the building, including two firefighters, sustained light injuries.

A 43-year-old German factory worker who identified himself only as Peter had traveled to Paris to show solidarity with yellow vest protesters. Standing Saturday outside the burned-out bank, he said he agreed with the destruction, calling banks “the biggest problem in the world.”

Riots for 18 Weeks

What kind of twisted mind agrees with violent protests that threatens innocent persons including babies?

I really thought the worst of these protests were over.

For those new to the story, these riots started 18 weeks ago in response to Macron's ill-advised gas tax hike to save the planet from CO2.

In recent weeks the crowds diminished from hundreds of thousands to the low tens of thousands. The violence tapered off as well, until today.

This is inexcusable, and so is gloating about it.

I am totally disgusted. Condolences and best wishes to those hurt by these unjustified actions.

Mike "Mish" Shedlock

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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