LONDON   The French are taking to the streets…again.   Unions are upset about planned hikes in the retirement age there as well as other austerity moves.

We’re told the numbers protesting are down from the last time they did this (two weeks ago!).  Then, authorities put the figure at 1.1 million nationwide. 

But we’re also told disruption to services courtesy a parallel strike is greater.  At least half of train, subway and air travel has been affected.  Schools and other government offices have also been closed.  

The measures, which would raise the minimum retirement age from a pretty youthful 60 to 62, and full pension age from 65 to 67, were passed by the lower house of the French parliament earlier this month.  They’re set to go to the upper house next month.

It’s not just the French who are acting up.  All across Europe folks are upset about austerity moves.

In Greece truck drivers angry about liberalization were chanting “Thieves! Thieves!” this week in Athens. In Germany, the Czech Republic,  Poland and Romania they were also showing anger.  A big Europe-wide  protest is set for next week

So far, the demonstrations have been generally peaceful, but there has been violence in the past, in Greece for example.

A leading London economic analyst tells us these protests, however, are just postponing the inevitable. “The longer they protest now, the longer they’ll suffer in the future,” says Howard Wheeldon of BGC Securities.  “They’re going to price themselves right out of the economy.”

A big concern, though, not just of protestors but economists, is the deep austerity cuts, which should “bite” in the  next several months, could “bite” into a struggling recovery.

Europe saw growth following recession earlier this year but that’s already slowing.   Some even talk of  a “double dip” recession if the cuts happen now.

According to Wheeldon, government austerity “…will not make the economy any better,” but “…borrowing  had gotten out of hand and Europe had to bite the bullet.”

All of this noise and anger is maybe a little taste of what’s ahead for the US, as we look at slashing our own debt and deficits.